Page:1887 Territory of Dakota Session Laws.pdf/340

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PENITENTIARY.

PENITENTIARY.

CHAPTER 117.

BISMARCK-AUTHORIZING 18SUE OF BONDS FOR PERMANENT IMPROVEMENTS AT BISMARCK PENITENTIARY.

AN ACT To Provide Funds for Making Permanent and Necessary Improvements at the Dakota Penitentiary, at Bismarck.

Be it Enacted by the Legislative Assembly of the Territory of Dakota:

§ 1. Bonds to be issued.] That for the purpose of providing funds to pay the costs of making necessary improvements at the Dakota Penitentiary at Bismarck, and for other purposes, to-wit: cell wing $25,000; furniture and fixtures for cell wing, $2,500; extension [of] yard wall, $1,500; the Territorial Treasurer is hereby authorized and empowered and it is made his duty, to prepare for issue $29,000 of Territorial bonds, running for a period of thirty years, and payable at the option of the Territory at any time after ten years from the date of the same, and bearing interest at the rate of not to exceed five per cent. per annum, with coupons attached, made payable semi-annually on the first day of July and January of each year, in denominations of not less than five hundred each; such bonds shall be executed for the Territory, and under the seal thereof, by the Governor and Treasurer, and shall be attested by the Secretary, and shall be negotiated by the Treasurer of the Territory.

§ 2. Proposals.] It shall be the duty of the Treasurer to receive sealed proposals for the purchase of said bonds, by giving notice for thirty days in two newspapers of general circulation, one of which shall be published in the Territory and the other in the city of New York, and the bonds shall be sold to the highest bidder for cash; Provided, however, that no bond shall be disposed of for less than par.

§ 3. Bond tax-sinking fund.] For the purpose of prompt payment of principal and interest of the bonds herein provided, there shall be levied by the Territorial Board of Equalization at the time the other taxes are levied and collected, in the same manner as other Territorial taxes are collected, such sums as shall be sufficient to pay such interest and exchange thereon, and after ten years from the first day of May, 1887, in addition thereto,

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