The Carbon County news. [volume] (Red Lodge, Mont.) 1924-1931, 1930-11-27
Official Proceedings Of the
Board Of County Commissioners

WHEREAS, The Board of County
Commissioners has determined that
Refunding Bonds in the aggregate
principal amount of So, goo can be en-
changed at par and accrued interest
for said old $1,000 Fund Bonds, dated
February 10, 1921, said Refunding
Bonds to bear interest at the rate OF
5ee per annum, payable semi-annu-
ally, and
WHEREAS, arrangements have been
made for the exchange of said Refund
ing Bonds for the said old tie bonds
with the understanding that said Re
funding Bonds bear interest at the
rate of Sc per annum, and
WHEREAS, the issuance of Refund
ing Bonds in the aggregate principal
amount of $50 600 will effect saving
in yearly interest payment; and
WHEREAS, it is determined that
the issuance of said Refunding Bonds
in the aggregate principal amount of
$4,000 is advisable and necessaryi
and
WHEREAS. it is now the duty of
this Board to issue and exchange said
Refunding Bonds;
NOW, THEREFORE,, BE IT RE
SOLVED AND ORDERED, BY the
board of county commissioners of
Carbon County, Montana:
l. That negotiable coupon bonds in
the name of the county to be known
as Reminding Bonds,r shall be is
sued in the sum of Fffty-two Thou
sand Dollars (s52 .000) for the purpose
of paying, redeeming and refunding
a like amount of legal outstanding
bonds of the county, dated February
Is, 1921.
2. That the chairman of said board
of county commissioners is authorized
and empowered to have prepared cou.
pom bonds of the county of Carbon IN
said amount of Fifty-two Thousand
Dollars, (S52000);
8. That such bonds shall bear date
the First day of January. A. d. 1881,
due and payable serially Twenty five
Hundred (S2500) on January LIST in
each of the years 1882 to 1947 inclu-
sive and Three Thousand Dollars
(s9000) on January list in each of the
years 194S to 1861 inclusive; said bonds
shall be of the denominations of One
Thousand Dollars each, numbered
from one to fifty-two inclusive. Said
bonds shall bear interest at the rate
Of five per cent (5%), which interest
shall be payable on the first day of
July and the first day of January in
each year. Both principal and inter-
est when due shall be payable at the
office of the County Treasurer,
4. That said bonds shall be signed
by the chairman of the board of Coun-
ty Commissioners and the county
treasurer and be countersigned by
the county clerk, and shall bear the
seal of the county; the coupons there
to annexed shall bear the fac-simile
signatures of the said chairman, treas
urer and county clerk, and when so
executed shall be deemed the valid
and binding obligations of the coun-
ty as evideneeing the interest upon
said bonds.
5. That the said bonds and the
coupons thereto attached shall be in
substantially the following form:
UNITED STATES OF AMERICA
STATE OF MONTANA
COUNTY OF CARBON
REFUNDING BOND
The County of Carbon in the State
of Montana acknowledges itself in
debted and promises to pay to bearer
ONE THOUSAND DOLLARS
on the first day of January, A. d. 19-.-
| together with interest thereon at the
rate of five per centum (5%) per an
! mum payable semi-annualy on the
| first day of July and the first day OF
January in each year, both principal
and interest being payable at the Of
| flee of the County Treasurer of the
said County in Red Lodge, Montana
upon the presentation and surrender
of this bond and the annexed cou-
|
This bond is issued by the Board oil
County Commissioners Of the said
! County of Carbon for the purpose
! of paying, redeeming and refundine
a like amount of legal outstanding
bonded Indebtedness of said County
in strict conformity with the consti-
| tuition of the state of Montana, tbs
provisions of Part 4, Chapter 10, Re
vised Codes of Montana, 1921, and al
other laws thereunto enabling. And il
is hereby recited that all require
ments of law have been fully complied
with by the proper officers in the is
suance of this bond.
1t is further certified, recited and
warranted that all acts conditions
and things necessary to be done and
| to exist precedent to and in the Is
suance of this bond, were done and
/ performed, and did exist in due time
| form and manner as required by law
prior to the issuance thereof, and that
| the Indebtedness evidenced by this
! bond does not exceed any limitation
prescribed by the constitution or laws
+, of the State of Montana, and that pro
| vision has been made for the levy OF
tax to pay the interest on and the
| principal of this bond as they res
pectively mature.
The full faith and credit of the
| County of Carbon are hereby pledged
! for the punctual payment of the prin-
| cipal of and the interest on this bond
| IN TESTIMONY WHEREOF tho
board of county commissioners of said
county of Carbon has caused this bono
to be signed by its chairman, anu
| treasurer, to be counterSigned by the
| county clerk under the seal of the
county, and the coupons hereto at
| tached to be signed with the fac
simile signatures of said officers this
| first day of January, A. d. 1881.
| L.. E. Gard
Chairman of Board Of
| County Commissioners
G. A. Nordstrom