on each dollar of taxable property in said county to pay the interest upon the bonds authorized to be issued under the provisions of this act, and the ten per cent. bonds of said county, which sum shall constitute the interest fund of said county, and shall be applied by the treasurer of said county to the redemption of the interest coupons as the same shall become due and payable.

Third. To create a sinking fund for the final redemption of the bonds of Missoula county under the provisions of this act, and the ten per cent. bonds of said county as the same shall become due and payable, the board of county commissioners shall levy not less than one-fourth of one mill on each dollar of taxable property in said county for each fifteen thousand ($15,000) dollars of bonds of said county, which sum shall be paid to, and receipted by, the treasurer of the Territory, who, with the governor and auditor, shall invest the same, with the concurrence of a majority of the board of county commissioners of said county, as in their judgment will best answer the interests of said county and the objects thereof. Fourth. For Territorial purposes, three mills on the dollar. Fifth. For school purposes, four mills on the dollar, and no

more.

Sixth. For the payment of outstanding warrants on the contingent fund, not to exceed one-half mill on the dollar.

Seventh. For the payment of outstanding warrants on the road and bridge fund, not exceeding one-half mill on the dollar.

Eighth. For the payment of outstanding warrants on the poor fund, not exceeding one-half mill on the dollar.

Ninth. For the payment of outstanding warrants on the general fund, not exceeding one-half mill on the dollar.

Tenth. For the repair of that portion of the Mullan road lying between Medicine Tree hill and the west bank of the Big Blackfoot river, one mill on the dollar, and no more.

Eleventh. For the repair of that portion of the Bitter Root and Bannack wagon road lying between the mouth of Sleeping Child creek and the summit of the divide between the Bitter Root and Big Hole rivers, one mill on the dollar, and no more.

Sec. 8[7]. It is further provided that the per capita tax, and fifty per cent. of all licenses authorized by law, shall be placed to the credit of the current expense fund of said county, and the residue

of said license tax shall be placed to the credit of the general fund. Sec. 9[8]. It is hereby made the duty of the board of county commissioners of said county to require the treasurer-elect of said county, before entering upon the duties of his office, to execute a penal bond to the said board of county commissioners of said county, in a sum not less than the total revenues of said county for the preceding year, said bond to be approved by said board of county commissioners of said county at their regular March session of each year.

Sec. 10[9]. Sections numbered 1, 2, 3, 4, 5, 6, 7, 8 and 9, inclusive, of "An act in relation to the collection and disbursements of the revenue of Missoula county, and for other purposes,” approved February 16th, 1877, and all other acts, or parts of acts, in conflict with the provisions of this act, are hereby repealed.

Approved February 21, 1879.

AN ACT for the redemption of the funded debt of Gallatin county, Montana. Be it enacted by the Legislative Assembly of the Territory of Montana: Section 1. That the county commissioners of Gallatin county are hereby authorized and empowered to issue, on the credit of said county, coupon bonds to an amount sufficient to enable them to redeem all outstanding bonds of said county falling due in the years A. D. 1879, and A. D. 1880, which said bonds shall be redeemable at the pleasure of said county, after seven years from their date, and shall be dated at the time of their issue, and shall become due and payable fifteen years from their date; and the faith of the county of Gallatin is hereby pledged for the payment of the interest and the redemption of the principal of said bonds. Sec. 2. Said bonds shall be lithographed, and shall be of the denominations of fifty, one hundred, five hundred, and one thousand dollars each, and shall bear interest at a rate not exceeding eight per cent. per annum. They shall be in such form as the commissioners may direct, and they shall be signed by the chairman of the board of county commissioners, and the treasurer of said

county. They shall also be sealed with the county seal of said county, and countersigned by the clerk of said county. The coupons attached to the bonds shall be signed by the chairman of said board, the treasurer of the county, and the county clerk. Each bond issued shall be registered by the said county treasurer, in a book provided for that purpose, and such registration shall show the number, and amount of each bond, and when and to whom issued.

Sec. 3. When it shall appear to said board of county commissioners, at any regular meeting thereof, that there is not a sufficient sum in the sinking fund to meet any outstanding bonds maturing, and falling due, before their next regular session, they shall order a sale of a sufficient number of the bonds provided for in this act to meet such deficiency.

Sec. 4. Such sale of bonds shall be by public auction to the highest bidder for cash, but, for not less than their par value, and shall be made at the front door of the court house in said Gallatin county. Notice of the time and place of such sale shall be given by advertisement in one or more newspapers, published in this Territory, for a period of not less than four weeks prior to the time of such sale, and in like manner by giving notice in one or more weekly newspapers published in the city of New York, State of New York, for a period of not less than four weeks, said notice to be given in said weekly newspaper, or newspapers, sixty days prior to the time of such sale.

Sec. 5. The treasurer of said county shall pay, in lawful money of the United States, at the expiration of six months from the date of the issue of each bond, the interest due thereon, and semiannually thereafter, upon presentation at his office of the proper coupon, which shall show the amount due, and the number of the bond to which it belonged. All coupons so paid shall be reported to the said commissioners at their first meeting thereafter. Should the holder, or holders, of said bonds to an amount of not less than one thousand dollars, give the said treasurer notice in writing that they desire the bonds so held by them, and the interest accruing thereon, to be paid at a designated national bank in the city of New York, then the said bonds and coupons so held by such person or persons, shall be payable at such bank in the city of

New York; otherwise said bonds and coupons shall be payable at the office of said treasurer.

Sec. 6. The proceeds of the sale of such bonds shall be paid into the county treasury of said county and shall be applied to the sinking fund.

Sec. 7. The treasurer shall register, in a book to be kept by him. for that purpose, all bonds redeemed by him, which book shall show the amount of the bond, its number and date, when and to whom issued, and when and from whom redeemed. Said treasurer shall also write across the face of said bond in red ink the word "Redeemed," with the date of such redemption, and shall subscribe his name thereto. He shall also cancel said bonds with a cancelling stamp.

Sec. 8. The county clerk shall receive, in full compensation for his services in making out and signing and affixing the county seal to the bonds and coupons, contemplated in this act, the sum of fifty cents for each bond issued, anything in the law regulating the fees of county clerks to the contrary notwithstanding.

Sec. 9. This act shall not be so construed as to entitle the county treasurer to any other or further compensation than he is now allowed by law.

Sec. 10. All acts, and parts of acts, in conflict with this act, are hereby repealed.

[The foregoing act, having been presented to the governor of Montana Territory, on the thirteenth day of February, 1879, for approval, and not having been returned by him to that House of the Legislative Assembly in which it originated within the time prescribed by section 1842, chap. 1, title XXIII, revised statues of the United States, has become a law without his approval.]

AN ACT to provide for the funding of the outstanding twelve per cent. bonds of Jefferson county, Montana Territory.

Be it enacted by the Legislative Assembly of the Territory of Montana : Section 1. That the commissioners of Jefferson county, Montana Territory, are hereby authorized and empowered to issue, on the credit of said county, coupon bonds to an amount not exceeding forty thousand dollars, or so much thereof as may be necessary, to redeem all of the outstanding twelve per cent. bonds heretofore issued by said county, together with the interest remaining unpaid

thereon, which bonds shall be redeemable at the pleasure of said county after five years from their date, and shall become due and payable twenty years from their date, and bear interest at a rate not exceeding ten per cent. per annum.

Sec. 2. The bonds authorized to be issued by this act shall be in such form as said commissioners may direct, and shall bear the signature of the chairman of the board of county commissioners of said county, and the Treasurer of said county, and shall be sealed with the county seal, and countersigned by the clerk of said county; and the coupons attached to said bonds shall be signed by the chairman of said board, the treasurer of said county, and the county clerk; and each bond issued shall be registered by the county treasurer, in a book provided for that purpose, and it shall show the number and amount of each bond, and to whom issued; and the said bonds shall be sold by said county commissioners, or their authorized agent, or agents, at not less than ninety-eight cents on the dollar of the face thereof as hereinafter provided.

Sec. 3. The said county commissioners shall, as soon as practicable after the passage of this act, give notice in not less than two weekly newspapers, published in this Territory, for a period of not less than four weeks, to the effect that said county commissioners will sell said bonds, (briefly describing the same) and stating the time when said sale shall take place. But said county commissioners may in their discretion at any time, and without previous notice, negotiate and sell said bonds at private sale if, in their opinion, the interest of said county is best subserved thereby : Provided, Said bonds shall not be sold at private sale for less than 98 per cent. All moneys arising from the sale of said bonds shall be paid into the treasury of said county to the credit of the sinking fund, and shall immediately thereafter be applied to the payment of the outstanding twelve per cent. bonds of said county and the unpaid interest thereon.

Sec. 4. All bonds authorized to be issued by this act shall be of the denomination of five hundred dollars, and the faith of said county of Jefferson is hereby pledged for the payment of the interest and the redemption of the principal of said bonds.

Sec. 5. The treasurer of said county shall pay in lawful money of the United States, at the expiration of six months from the date