HomeMy WebLinkAboutOrdinance 98- 170 Providing for Calling of Election for Submission of Bond Issue to Purchase City Water Works
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Ordlnanoe No. 170.
An ordmance providing for the call~
Ing of au ~l~ction for the purI-ose of
submitting ti,l' ,qUI stloD of, thl' clly of
Boz\Jm3D issuing till; bOllds of the said
city ill the sum of $165,000, the proceeds
from t'le sale lJf said bonds,to lJe used
to pu rchase the IV Itter plaut of the Boze.
mltn Water WOI ks Company, and to
exhmd and impr<1\'e saId Wall'r vlant.
lle It ord!linedb)'-th".City Council of
the city of Hoz\'man:
:Section 1. The cit.y Clerk Is herl'by.cli-
rected to give u(ltlce of.1I special t'lel'-
t\OIl to be h...ld Iu thll city ilf Bozemau
un tllll 4th !Iay of Octohllr, 18\18, aa pro
vldeu by Jaw, hiI' the purpos" of suu-
mlttiug to the taxpayers of said ciTy,
the que~tion of said city issuing bonos
upon. the cr\'dit of said city m Ihe sum
of $165,000, the procel'ds from Tbe sale
of said city bonds in the Sllln of $155,500,
to be nsed to purchase the wlttl'r 1.lallt
onhe B..zemali Water Works Cou'}Jltny,
aud the procl'eus from tho; sail< of sll.ld
bonas ill the SUlD nf $!l,5QP to bl! usea to
extend and improve said plant. At
said election th", ha11nt shallh.. pfllvirl-
edjp accvrdaoce with Jaw, and shltll
c,)utain the words, "llouds- Y ..~..' and
"Ronds"-'l.;o;" Thel'hctlou sllll11 ht!
COllduct~d, the rl'turns (Hade .1I1I1I can.
vassed as provided HI other city d~c-
tloos. '
I:lection 2. If the majority of the \'ot..s
cast at said election ahllll be Cllst ff)r
"llonds-Y~s." the city coupciJ shall, as
sonn as practicable therea,ft~r, gi ve', .no.
tlce by ItdvertlsHilelJt HI th" AV A:NT
COURIElt, /I weekly IJeWspa.per puulish
ed in tbe city of i::\nZI:lOllln; IInd also in
some newspaperpuulillhed ill the city
of New York, for a period of not ll'ssV
thall four weeks, to the elhlCt that the
city of Bozeman will s..1l tilt' bOllds
voted at such election (brll!lIy descr! b-
ingthem), lit public :luctlOn oit Ult less
tbau their pa I' value alld shall statf' the
time Whlln, and the plac", IVIll're snch
sllle shall take plaL'tl.
I:lection 3. Thatthe Ma)or lInd City
OJl'rk of tbe city of' Bozeman arl' bllr~by
authorized aud Instructf'd to sigo IIl1d
executll after the sale tberf'of, tlle saiel
city bonds to /In amollllt not to !'xc\'l'd
tile sum .of $165,000. The honds issu!'d
.l,Jy virtue of. this ordinance shall be
known as WATER WOltKS BONDS, "nd
shall be of denominations of one thou-
sand dollars each, as may be m,Ist de
sirable and practicllbh;, and shall bear
Interest at tbe rate of five per cent pf'r
annum. Interest payablo; s.eml.anDual.
ly. Said bonds sball have ltttacbed
seml.annulIl coupon notes for each in.
stallment of ill~erest; and t he bon'~$ and
coupons attfll,lbed tbereto shall each be
signed by the mayor and city clerk, In-
terest shall be made payable in tbe city
of New York, or at sllch other conven-
ient place as may be agrl'ed upon be.
tween the. treasurer and tbe party bold-
'\.
Ing said bonds. Eacb bond sball be
consecutively numbered ::Jeginnlng at
number one. , '
Section 4. (A tax of.... mills on the
dnllar shall be ]evled~aQh year upon
tbe t>xable property in said city for tile
purpose of paying the Interest 01,1 said
bonds so Issued IInrl to create a sinking
fund for their redemption until tile
same are paid in full anrl rede"llled.)
Tbe city trausurer shall pay in lawful
money of tho; United :States on the first
day ot January or July (aOOOf(Ung to
which of tbese montlls comes Ilrst aft-er
the ISSUP) succeeding tbe issue or said
bonds, IInd ~..ml-annually tbereafter on
each llrat day of July and the Ilrst, day
of .Tanuary,and interest due on such
boods, ,upon presentation \l,t his office
o,f, Ihe"proper coupons, wbichshall sbow
the amount dUl',and the number nf the
bonds to Which thflY severally belon g;
but In case the holder oLeuch bonds
shall gi ve the tr!'aeurer notice In writ,
ing, that he Or th..y wish the bonds so
ho;ld by them, and tht; il1tl'rest, to be
Vaid in New York City, then such bonds
and coupons shall hH payable In New
York City at such bauk as shall be defJ--
igllMed by to", city tr"'a.surer il~l~.. all
bOllds anu coupons so paid shull be 're-
tl\rHl'd t,) the citycounoilat the next
month I)' me~ling and sllid bonds Ilnd
COllpO.IIS $flail be cllnc\'\lIeu in the man.
lI..r city warrallts arenow olUleellt'd.
~pdion 5. The bonds, tbe Issue of
. which ill h~rpin providl'rI tor, shall be
r..dp,..mahll' In tt;I' years and payable III
twenty yearR, and if at any time. after
ten years Ir<"n t.he. date oJ:, issuance of
saillbo'l1da tIIll sum in the sinklllg fund
sh;lllf'<l.ual or px('el'd one thousand dol-
l lfS fir". frllm time tf) time thereafter
w h~lIit IlllyocCnr, tht; city treasurer
shall cause ahotfce to be. pnblished in
IllIe lIew~pap"rjn thedty of Bozeman,
that he wiJl.witliillthirty d~ys from the
date of .such notil"" Iedl'em said amount
of bonds w IIlCll \lIay be pa) aule, giving
the IIIlmher th..r..vf, and CI1J]jng for
said hOllds in theiruumerical order. A
similar notice shall he givelluYlDail to
such ballk III the city of Nl'w York,. as
the treasurerha~design!ll~el HS thl' bank
at whiob saId honds IIllel interpst thl'n-
00 will tie paid, ana it at tht! l'Xplratioll
of thirty dllys the hold~r or holders of
Raid boods shall fail or neglect to pr~-
sent the samt; fill' payment, interest
shall ceaSH alld tbo; treasurer stJall be
ready at all times \0 redeem said bonds.
on presentation.
:Sectioll 6. Ordinances number 155,158
!llld 1Ii6 and ail ordinances alld parts of
ordinances In conlllct Ill'rewithare here-
by repealed. ,-
Section 7. This nrdinan,ce shall tak",
effeot from and attl'r its passage, liP:
proval and publication,
Passed, adopted !lnd approved tllis
18th day of August. 1898.
,TOHN V. llOGERT, Mayor.
GEO, D. PEME, City Glerk.
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UV\J",I U11 'U. j.'II.tllI. U"', .J..........J...... ....,.
Clerk of the city of llozernan arl'
authorized lllld instructrd to sig,
execnt8 after t4e sale Iherl'of, II!
citr bonds to fln 8mollHt not 10 C'
the sum of $165,000. The honds
:l;ly virtue of this ordinance sh State of JltIontana,
'known as WATER WORKS llOND~'
shall be of denominations of one 0 Y of Gallntin:
sand dollars each, as may be m. . .
sirable and practiCllbltl, and .sha H.. ..... . .. .. .. .......... ~. I,t first duly sworn,
interest at the rate of live per c( ,
annum. Interest payable s.emi-a deposes.and says that he is ............. . ;.... . .. ... of the
Iy. Said bonds shall havl' at
seml.annual coupon noll'S for en .J1V.J1NT COURIER, n Iveekly newspr.tper, publi.9hed at Bozeman, in
stallmellt of iI)~rest; and I he bOll
coupons att4ilhlld thereto shall E GI.tlll1,tin n1Jy, iri)he Strde oj" Mon.tnna:...ifJ<0 the......................................
~~~:Betds~~Ji~ee ':~o; ;8ny~~::yl~J~ ..:...........:.....~~........=~.......L.7Q........n.......
of New York, or at such other c .
lent place as may be agreed ur/ of which r(, copy ~,s.herhto ((ltac} "wrul. first plJ.,bli5hed in srdd news-
tween the'treasurer and the part: paper in its issue dnted...... .... ...:. ................-::tt2/189..1 and was
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JP!f~.il 011 Pal>>lllea1tlQl)..
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published in Nwlb .weeklV issue of. nid neW8paper for...
COfb98(\utive week,9, in the l'eJ!ular ru~d entire iMIU~ (If every number of
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each edition, completing the full peri,od of.......................,.. ....................................
days, the l"st publication bp'J in thp, iS81M dated .....~.H.....
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