HomeMy WebLinkAboutOrdinance 97- 155 Providing for Special Election to Vote on City Assuming Debt of Water Works Company
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ORDINANCE NO. 131S. stallmllnt ()f1ntere,t;and thll bondll and
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An ordinance providing for the call- coupons attacbed tbereto shall each b~
Ing of an election for th~ purpose of signed by the mayor and the city .clerk. ,
submitting the qUl'stion of. the City of l~terest shal\,be mllllie payable 10 the \
Bozeman allsumlng the bonded Inde City of New 1; ork or at sucb other COil'
eduesl'l of the JJozeman Wate?--Worlls ,elllent ~ all lllfy,bewreed upon
company In the lIum of $104,000,00. and between the trea&Urer and the party
issuing the bonds of tbe said city of owning or boldin( said bonds. Each,
Bozeman In the sum of $56,000.00, tbe bond Sb~ll be consecutively num..
oceeds from tbe said sale prof said be~ed. beginning at number one. I
bonds to be nlled to purcbltse the wa.ter . SEOTION 4.-(A..t~,Of -- mill\!
plant of tbe Bozem.an Water Work~ ,shall be levied ~~ ar upon tbe tax. ,.f:: !."
company anll to extend aRd improve ablA pro"perty In said city for the pllf-
said water plant. pOlle of paying the interest on saicl ,
Be It ordained by the City Council of bonds so Issued. and upou bonded in.
the City of Bozeman: debt4ldnes/lo ~ said' B~man"'\Water
SEOTION 1.- Tbe city clerk Is hereby W ol'kll comp~ $liereby aSllumed ~Dd to
directed to give notice of a spec~1 elec- crea~ a ~Inkmg fund for thelll redeml)'
tlon to be held in the City orB zeman tlon until tbe same are paid In fUl'!', aull
on the 16th day of November~ 1897, as redeemed). The city treasurer shan
provided by law. for the purpose of ~ay In lawful mouey of the Unite.1 l
submitting to the tax payers of said States o.n the fir.st dny of J.anuary next
city. the question of said city assuming suc~lledmg the Issul:l,-,f ~"id h...nila and
tbe bonded indebtednl'8s of tn" Boze. Aeml.annually thereattl:lr uU ""ell lir,t,
man Water Works company ifrt,he sumay of July andtbe first d#,o(Jltu.
of $104,000,00. drawing interest at tbe uary, the I>>terest due on SU"h,.-,,~Qnds.
rate of 6 per cent per annum,payablll upon presentatIOn at bla. offic!,\,pt;thl!
semi-annually, said bonds bearing date proper efilnpons wblcb sball sb(lwthl<
Feb. I, 1890, payable Feb. 1, 1900, and amou,nt due and tbe Humber of tbe
due Feb. 1, 1910: aDd issuing bonds bou~s to which they severally belong; ., ','
upon the credit of said clty In the sum but m case the bolder of sucb bonds
of $56,000.00, the proceeds fro.m tbe sale ISh~,Hglve the city treasurer nGtlee In
of said bond' to the amount of $51". i wlntlng tbat he or they wish tbe boods
, 500.00 to be used to purchase tbe water '1O".he~d by them and tbe Interest to be
plant of the Bozeman Water Works paUi1111 .New York City at such bank as
company and the proceeds from the shall be deshl"nated by. the city treas-
sale of said bonds In tbesum of 1'.500.00 nrer. 31ld all bonds and coupons so
to be used to extend and Illlprove said paid shall be returned' to the city
water plant. At said election tbe bal- council at tbe next !:D,ontbly meeting " .
lots sballbe provided in accordance and said bonds al1d'q\lUP~lI sb~l be
wltb law, and sball contain the words cancelled tn, tbe mail'ooJ ~1'ty'wilrraDts
..Honds'-Yes....and "Honds-No". Tb~ are now e-IlDcelled.",' ". .i. '. i';
election shall be conducted. the returns SECTION !i.-The bolide tbe,'ili8ue of
made and canvassed, as provided In whlcb Is h!r.eln Jllovlded"~rsball be
other city elections. redeemable In ten years and"p~tabre in
SECTION 2.-If the majority of the twenty years;and if at any tlmeafiilrt8u
votes cast at said election shall be cast years from the date of Issuaneeof said
for "Honds--Yes", tbe city council bonds the sum In the sinking fund
shall, as soon aspractlcable thereafter, shall equal or exceed I1ne thousanq.
give notice by advertisement In the dollars, or from time to time therea(
,A.v ANT COURIER, a weekly newspaper ter when It may occur tbe city treai.
published In tbe City of Bozeman and urer shall cause a notice to be published ' ..
also In some newspaper publlsh~d In In one newspaper In th& city of Boze.
the City of New York, fora period of man.tbat. he will witbln thirty days ~.
not lells than tour weeks, to tbe effect. fr?m the date;of such notice redeem
that the City of Bozeman will sell the said amount of bonds wblchmay be
bonds 'l"oted at lIucb election (briefly payable. givi?g the n11'T1hl't tbereof,
describing them), atpubhc auction at preference hemg glvl'lI Lo the oldest Is-
not less than their par value. and shall sue. A similar notice shit11lleglveu
state tbe time wben and the place by mall to lIucb bank ip,;~lieOity of
where such sale shall take place. New York as the treasurer bli6 deslg-
SEOTlON B.-That tbe mayor and the--. nated as tbe bank at wblcbllajd bonds
ctty clerk of the City of Bozeman ar& ~anQ..lnterest thereon will be paid, and "
hereby autborized and Instructed to If at tbe'Il"l)I.atloD 0.1 thlrt} days the
sigQ aud execute after tbe sale bhereof, holde\')'ol'holders,of'lIa1d' bond'l'Ihall fliU
the sald city bonds to an amou1\t not to or Deli1ect to present tbe same for'
exceed the SUIll of $5IiliOOO.OO. Tbe ,payment. Interest shall cease, Bud th..
bonds Issued, by virtue of this ordinance ,treasurer shall be ready at alHlmed t& ;
sball be klolOWQ as Wat~ Works Bonds :redeem said bonds on presenta.tion.
and sball be or;'!.eno~natwns of OD~ i SEOTION 6.-~'l'hl&- ord.4nai'ICe shall
tbousand dollars llaell, as may be most : take effect from oodi. after Its passage
desirable and practicable. and shall bear ; and appro"al.
interest atthe rate of six per cent per Passed, adopted and approved this
.annum. Interest payable, semi.annu- 21st day of October, 1897.
ally. Said' bonds sball have attached J. V. BOGERT
semi-annual coupon notes for each in. GEO. D. PEASE. M~YOr.
City Clerk.
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~)f' whioh I/, copy i8 hereto Itltavhed.,wa'~~fl,.sl< pltbl~[,hed in S'l,idr:eW,8. "
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paper ill its i88U/!. dnt('.(i----~.----...'..'.,~"1J.89~...--.'.' ..,an...d was :
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published in tIl,oh wel;k1y is~ue of snirl newspa;per ti)~',,--, .,"" ; _,____
oOMe(!utive week.<;. in the reju1nr rHU'!.. entir/! iSS!Le of' e~er,y 11,utnberol
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eachedi tion, comp/ etinff the full periorl of-.....::...:-Lm..,....."C';'m....'..........-....."...
days. the last pub1icldion being in thIJ issue dated,. md!J{e.,t-d.~:.~_:-:
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