Page:1889 Territory of Dakota Session Laws.djvu/118

Rh day aetually and necessarily employed in such capacity, to be paid upon the warrant of such board of county commissioners.

§ 6. .] All bonds issued pursuant to and under the provisions of this act, shall be in denominations of not less than one hundred (100) dollars and not more than one thousand (1,000) dollars, shall bear the date of their issue, shall be made payable to purchaser or bearer and become due in not less than ten and not more than twenty years from their date and shall bear interest at the rate of not exceeding seven per cent per annum, payable annually with coupons attached for each interest payment. The bonds and each coupon shall be signed by the chairman of the board of county commissioners and shall be attested by the county clerk or auditor. The seal of the county shall be affixed to each bond but not to the coupons, and said bonds shall each contain a recital in substantially the following words: ‘Issued in pursuance of an act of the Eighteenth Legislative Assembly of the Territory of Dakota entitled an act authorizing and empowering organized counties of Dakota to erect county buildings for court house and jail purposes and to issue and dispose of bonds to provide funds to pay therefor, and to provide for the payment of the principal and interest of such bonds.” Said bonds shall be printed, engraved or lithographed on good bond paper; said bonds may be made payable anywhere in the United States; shall be sold by the board of county commissioners at not less than their par value and the proceeds applied solely to the payment of the indebtedness incurred in the erection of court house or jail or both, and purchase of site therefor. Said bonds or any of them shallnot be sold until after having been duly advertised at least once a week for four consecutive weeks in one of the leading newspapers published at the seat of government, Territory of Dakota, aud for the same length of time at any other point deemed advisable by said board of county commissioners. The proceeds of the sale of said bonds shall be deposited in the treasury of said county, to be paid out by the county treasurer of said county on order of said board of county commissioners. The county treasurer of said county shall give an additional bond to the said board of county commissioners in double the amount of the bonds so issued and sold, and shall receive ач compensation for the receiving and disbursing of all funds arising from the sale of said bonds one per centum of the par value of said bonds, and the compensation herein provided for shall be in lieu of all other commissions allowed him by law.

§ 7. .] The board of county commissioners shall levy each year upon the taxable property of the county a sufficient tax to pay the interest on said bonds as the same accrues and a reasonable time before maturity, sufficient tax to provide a sinking fund for the payment of the bonds when they mature.

§ 8. .] When said bonds and the several coupons thereto attached mature it shall be the duty of the county treasurer