The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1932-12-27

sinking fund, amounting to $6,500.00
being the balance collected for bond
issue now retired, $5,000,0O to the sal
airy fund, 10000 to the general fund.
Roll cali: Swanson, aye; Solder. aye;
Moynier, aye; Fricke, aye; Chairman
| Will, aye.
| Moved by Commissioner Solder, Sec
onded by Commissioner Swanson that:
WHEREAS, upon the request OF the
/ Governor of North Dakota and In ac-
| cordance with the resolution OF the
Reconstruction Finance Corporation
there has been made available to the
! county of Burleigh the sum OF $S,--
| 10000, of the funds and monies Of
| said corporation, for the purpose OF
loan for relief and work relief and
for relieving the hardship resulting
from unemployment in said county:
1T is RESOLVED that said County
of Burleigh shall issue it's Certificates
of Indebtedness which shall be at once
duly executed and registered as fol-
lows:
Certificate No. !, dated as of De-
! cember "a, 1882, payable to bearer in
the sum of $4,050.00 on the gath day
of December, 1882, with interest at
the rate of three percent tS%) per
nually on the cath day of June and
December in each year:
Certificate No. 2, dated as of De-
cember "a, 1882, payable to bearer In
the sum of $4,050.000 on the Gath day
of December, 1882, with interest at
annum from date, payable semi-an-
nually on the 21st day Of June and
December in each year.
And Resolved, that each Of said Ger
tificates of Indebtedness shall be de-
livered to the Reconstruction Finance
Corporation, upon payment to the
county treasurer of this county Of the
principal amount thereof.
And Resolved that, in the event the
principal amount of said Certificates
of Indebtedness, of either of the same,
is not paid to said county treasurer
at the Federal Reserve Bank in Min
neapols, Minnesota until after the
date of said certificates, or certificate.
the holder and purchaser of said GER
tificate may endorse thereon language
in effect and substance as follows:
Interest on the within certificate
from the date thereof to this........day
of.............-..-, 49,. is hereby waived;
and when the first instalment Of in
terest upon said certificates of in
debtedness or certificate of indebted
holder of said certificates or certifi-
cate, interest shall be computed only
from the date when payment for the
same is actually made to the county
treasurer through the Federal Re.
serve Bank in Minneapolis. Minne-
of said certificates or certificate for
the payment of the first instalment
OF interest; the intention hereof being
that the purchaser of said certifi.
Gates shall pay for said certificates
the face or principal amount of same
without interest and receive, on said
loan, interest only from the date Of
the purchase of said certificates;
And Resolved that the chairman or
acting chairman of this board shall
make, execute and deliver to the Re-
construction Finance Corporation the
form furnished by said Corporation
which agreement provides among 9TH
er things, that the county shall use
the said funds exclusively for tho
relief of restitution in the county.
And Further Resolved, as a basis
for the completion of the proposed
loan by the said Reconstruction FL
nance Corporation as follows:
FIRST: That all acts, conditions
and things required by the laws and
constitution of the State Of North Da-
kota to be done precedent to and in
the issuance of each of said certifi-
Gates of indebtedness have been prop.
erly done, have happened and have
been performed in regular and due
form and done as required by law and
that the total Indebtedness of said
county as taxing district, including
each Of said Certificates Of Indebted
ness, does not exceed any statutory
or constitutional limitation or restric.
ton upon the power of said county to
issue the same in the manner and for
the purposes herein stated.
SECOND: That the loan to said
county represented or evidenced by
said certificate or certificates OF in
debtedness is made for the purpose of
providing a fund for relief and work
relief and for relieving the hardship
resulting from unemployment in said
county.
THIRD: That no liability, including
said Certificates of Indebtedness, for
the purpose above stated is or has
been incurred in excess of appropria.
ton heretofore made for such pur-
pose in the final budget adopted by
said county, and that a tax has been
levied or taxes already levied suffi-
cient to create a fund to repay and
retire said Certificates Of Indebted
ness together with all outstanding
certificates and charges payable from
the same fund or funds.
FOURTH: That the indebtedness
and obligations of said county includ-
ing said Certificates of indebtedness.
do not exceed five percent (6%) Of the
assessed value of the taxable property
in said county and that the facts and
figures in this respect are as follows:
Burleigh County valua-
tons ,997,592.00
Outstanding bonds .:-..-..-.-- 250.000.00
Outstanding Certificates
of Indebtedness ......... 66,367.OO
Uncollected tax for 1927
to 1881 inclusive ........... 276,32S.0O
Tax levied for 1892 uncol-
lected ...-...-..-......-..-.......... 7ss.1os.oo
Total outstanding tax....$ 1,173,437.0O
FIFTH: That no LITIGATION il
threatened or pending questioning the
organization or boundaries of said