Page:1887 Compiled Laws of Dakota Territory.pdf/170

County Officers shall receive the same pay allowed by law as when in the performance of their ordinary official duties.

§ 554. The amount of indebtedness of a county organized under this act, as ascertained by the two boards of county commissioners in compliance with the provisions of preceding sections of this act, shall be paid to the county from which it segregates, in the bonds of the new county thus segregated, as hereinafter provided.

§ 555. Such bonds shall be dated on the first day of January or July, from which the outstanding indebtedness of the original county is calculated as provided for in section 546; shall be issued for a period corresponding with the time or terms on which the obligations of the original county become due and payable; shall be payable at the same place and shall bear the same rate of interest as the obligations of the original county, said commissioners taking care to classify the liquidating bonds, issuing a due proportion of each in proportion to each of the original county obligations bearing different rates of interest and places of payment; and said original county shall have authority to exchange such bonds for an equal amount of obligations of its own of the same class.

§ 556. The county treasurer of a county issuing bonds under the provisions of this act shall provide himself with a book to be called the "bond register," wherein he shall note the number and denomination of each bond issued by his county, the date of issue, when and where payable, with such other facts as the county commissioners of his county shall direct, which bond register when completed shall be deposited with the clerk of the county commissioners of his county and shall be and remain a part of the records of the same.

§ 557. The board of county commissioners of a county organized under this act are hereby empowered and directed to issue such liquidating bonds in denominations as may be required by the old county, not to exceed one thousand dollars each, and deliver the same to the county clerk of the old county, who shall receipt therefor, attaching the seal of his office to such receipts, and the county clerk of a county organized under this act shall enter such receipts at large upon the records of the county commissioners and note the same in the bond register of his county.

§ 558. The board of county commissioners of a county issuing bonds under the provisions of this act shall for each year after the date of issue of such bonds, levy and cause to be collected a tax sufficient to pay the interest on said bonds as it shall become due, and also such sinking funds as shall correspond with the laws under which the bonds of the original county were issued, sufficient to redeem said bonds at maturity; and as fast as such sinking fund shall become available they shall redeem such bonds in the manner provided for redeeming the bonds of the original county; provided, however, that public notice shall be given by such board of county commissioners in a newspaper, if one be published within their county, setting forth that certain bonds, giving their number and otherwise describing them, will be redeemed by their county, and naming the date of such redemption.

§ 559. The money collected for the payment of the interest or principal of such" bonds shall not be used for any other

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