The Ward County independent. [volume] (Minot, Ward County, N.D.) 1902-1965, 1921-05-19
ORDINANCE no. IS

NORTH DAKOTA or IT'S NEGOTI-
ABLE BONDS IN THE SUM OF TWO
HUNDRED THOUSAND DOLLARS
R nhSAs ai s ~ ood E 90 1VsTA An
FIFTEEN AND TWENTY YEARS
FROM DATE OF ISSUANCE, BEAR
ING INTEREST AT THE RATE OF
SIN PER CENT (66) PER ANNUM,
THE PURPOSE OF PURCHASING
ADDITIONAL PARK LAND. THE
ERECTION OF A DAM, SWIMMING
POOL. BATH HOUSE AND OTHER
PERMANENT IMPROVEMENTS OF
GENERAL LINES OUTLINED IN
COMMITTEES REPORT FILED. AC-
CEPTED AND ADOPTED BY THE
BOARD ON THE 9Th DAY OF
PART OF THE PARK SYSTEM OF
SAID PARK DISTRICT; PRESCRIBE
= ING A GENERAL FROM FOR SAID
SUE. AS WELL AS THE LEVY1NG
OF A TAX FOR THE PAYMENT
THEREOF.
BE IT ENACTED by the park commits
sioners of the Park District of the
City of Minot. North Dakota, as fol-
lows, to-wit:
SECTION /. That the Park District
of the City Of Minot, North Dakota is
sue the negotiable bonds of said Park
District. in the aggregate sum of Two
Hundred Thousand Dollars, either the
bonds themselves or the proceeds there
of to be used for the purpose of puls-
chasing additional Park property, the
erecting. building and paying for per-
manent improvements as follows, to-
wit: concrete dam across the Mouse
River, bath house, swimming pool and
equipment. Oak Park Station h use an
imal house, steel and canvas around
.ly ft,,fr .i,,ly 1,,s,
play ground equipment, lighting system,
bear den. boat landings, rustic shelter,
bridges. painting, equiping tourists
camps, water works extension, provid-
ing of trees. walks. toboggan slides,
cleaning and clearing grounds, all. in
a general way, as contained in report
of committee adopted in April. 9Th, 1929,
with such changes and additions as
may be determined upon by vote OF
the board, hereafter, all this in Accord
mittee reports and other record acts Of
the board heretofore or hereafter made
and in accordance with the statutes of
the State Of North Dakota.
four hundred in number and shall be
in denomination of five hundred dollars
each, numbered serially- from Il" to
400, both inclusive and each of said
and one-fourth of them shall be payable
May LIST, 1926, one-fourth of them May
1st, 1881. one-fourth May 1st, 1896, and
! one-fourth May LIST. 1871. and shall bear
interest at the rate Of six percent (6%)
, per annum. payable semi-annually, on the
LIST day Of November and May of each year
which interest shall be evidenced by in
terest coupons attached to each bond,
and both principal and interest shall be
payable in lawful money of the United
States OF America. at the office Of the
Treasurer of the Park District Of the
City of Minot, North Dakota, or at the
City National Bank of New York. at the
option Of the holder. on the giving Of
payment through New York is desired.
SECTION III. The bonds of each Of
the four series herein provided for shall
DE oe Oh the same me- form except as TO time
able to bearer and shall specify the pur-
pose for which they are issued in gem
eral terms; that they are issued pursuant
to the statutory law of the State Of
shall certify that all formalities Of law
as to time, manner of issuance, etc,
have been complied with that for the
prompt payment of each bond. both
credit and resources Of, Park District
of the City of Minot are irrevocably
pledged and that provision has been
!. made for the collection of an annual
tax on al the taxable property in said
Park District sufficient to pay the prin-
cipal and interest of each and all of said
bonds when and as they shall become
due and payable. Said bonds shall be
signed by the president or vice-president
Of this Board. countersigned by it's clerk
and shall have affixed thereby the cor
| porate seal of the Park Board Interest
coupons representing all interest to fall
due on the bonds shall be attached to
each bond. these to be executed by
printing or lithographing thereon, the
fac smile Of said president or vice.
| president and clerk.
| SECTION Nv. That the interest to
| fall due on said bonds shall be payable
semi-annually, said method of payment
being considered for the best interests
Of the Park Board.
SECTION v. The President or Vice.
President Of the Board Of Park Commits.
sioners Of the Park District Of the City
of Minot, North Dakota, and the CLERK
Of this board are hereby authorized and
directed to respectively sign and coun'
tersign such bonds in accordance will
| the terms Of this ordinance, and tt
i affix the corporate seal thereto and IL
| the execution of the interest coupons at
tached to said bonds. the fac simil'
signatures Of the president Or vice
| president and Park Board Clerk may b
printed or Autographed, and the sait
! bonds and coupons, when 80 executed
4 shall be delivered to the Treasurer Of
. the said Park Board, who shall certif.
to the legality Of the issue and max
proper registration Of each Of said bond
and the said Park Board Treasurer