Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1922-05-26

upon state bank stock and stock of trust
c%onpranie for the yeara!. 1920 1921 and
years 1878, 1890. 1921 and 1922. under
tiel.terms. of which: U) such stock
b be CLASSIFIED for assessment pur-
(which includes stocks OF ~p,erchandise,.
livestock ann MOST other personal prop.
erty); (e) the taxes upon suc,, bank
STOCK for those years, thus reduced. are
to be paid without interest or penalty:
anu, 80 the necessary reductions in as
sfssed valuations. abatements and re-
funds are to be authorized to carry into
payment of taxes upon the basis OF said
offer, and ~ at least one-half of the
amount due from each bank is to be paid
Immediately in cash and the balance
agreed unon, and #
Whereas. the said offer Of settlement
has been accepted by the state foNicials
valuations. attachments and refunds have
been approved by the tax commissioner
and u appears to be- to the public In
carried into effect, ON account OF. the
nroyisiens Of Chapter &C., Laws of the
Special Session Of 1919 which cxc,npts
the stock Of banks from taxation.
Now therefore. be it resolved. that the
shall apply for abatement of such taxes
under the terms Of the proposition sub
mitted by tho bankers association shall
VIC oiu dlS are nCIeOS a1aLeu 10 Inn ex-
tent and upon the terms and conditions
hereinafter Indicated, provided however.
that such banks and trust companies
shall shall uliy comfy Win the terms and
pay any and all amounts of axes due
upon such bank stock under the terms of
aid proposed settlement. it being the In
tent OF this resolution that. there shall
be no reduction Of assessed taluation
and no abatement Of taxes in whole or
n part except as the taxes upon the
stock Of such banks and trust c%ompanies
ment proposition Submitted bv the bank.
ers' association. AS TO banks not COM
plying Herewith. this board and the
to necessary legal proceedings TO assess,
levy and collect 4 just tax. ~,
BE it further resolved~that the amount
due from zach bank under the terms of
within twenty days after date of this,
resolution. = -
Re it further resolved. thai no formal
application for such abatement shall be
payment OF the entire amount to be paid
under such settlement shall be taken
and deemed to be Il sufficient applica-
ton for the benefit of the abatement Of
taxes and the settlement thereof under
the terms of this resolution.
Be 1T further resolved. that in any case
where payments have been made by i'm
the. shares OF stock Of such banks.. or it
is desired that, payments Ne made by in
diytduai stockholders under the terms of
this resolution, such individual payments
shall be in all things treated as part Of,
end as though made BY the institutions
as a WHOLE, and receipt shall be given
accordingly,
Be it further resolved, that no part Of
this resolution is intended to apply TO
any special assessment for local i'm
provemepts or to any kline of tax except
to the general property tax upon bank
stock. -
Be it further resolved, that the taxes
of such Of the various banks in the
county as shall apply for abatement nm
der the terms Of this resolution. shall
he reduced to the following fEures, the
amounts given as to each bang being the
aggresatc of the taxes for the years in
volved prior to 1929 as reduced under
the terms Of this resolution, the amoun
already paid by each bank. the amount,
il. any due from the Individual bank or
the amount Of the net refund due to the
bank, if any, after deduction from pay.
merts made of the amount of taxes due
upon bank stock as reduced under the
terms of this resolution:
f> Aggregate Of