The weekly Oskaloosa herald. [volume] (Oskaloosa, Iowa) 1855-1885, 1873-06-26
ORDINANCE NO.

An ordinance providing for the issuing of City
Bonds for the purpose of providing Fire En-
CINE, &C., for the city.
SECT. L. Be it ordained by the City Council of
the city of Oskaloosa, Iowa, That for the pur-
pose Of paying for Fire Engine, contracted
for by said city, to be furnished by Cole Broth
err, of Pautucket, Rhode Island, and for the pur
pose of paying for hose contracted for with the
Gutta Percha and Rubber Manufacturing Com.
Pany Of New York City, for the use Of the Fire
said city are hereby authorized, empowered and
directed to execute and issue the bonds of the
city of Oskaloosa, to the amounts and payable at
the times hereinafter directed; that said bonds
shall be signed by tho Mayor and countersgned
by the Clerk with the corporate seal of said
cityIafxed thereunto; and which bonds shall bear
date of June LIST, 1873, and be made payable in
equal amounts in seven and ten years after date,
except those for hose which shalt be payable in
ten years after their date and issued in sums of not
| less than one hundred and fifty dollars. or over
| five hundred dollars each, and TO the amount, in
the aggregate o. forty Three t nsndred dollars
| as prescribed and provided in the written
contract with said Cole Brothers for said en-
iOT MaRgr agd
shall issue, in addition to the said 81 800, bonds
to the amount of 81, 800 and which shall be sued
in sums of $500 each and be made payable in ten
| years from their date, to the Gutta Percha and
Rubber Manufacturing Company, order, in
payment for said hose in pursuance to the con-
| tract with said company for the same; that all
of said bonds shall bear interest at the rate OF
ten per cent per annum, payable semi-snnually
at the Union National Bank in Chicago; that
each of said bonds shall have printed with and
following the body of the same, interest coupons
signed by the Mayor and attested by the Clerk
and sealed with the corporate seal OF said city
for the semi-annual interest on each of said
bonds. .
Sec 2. That for the redemption ano payment
of said bonds and interest coupons at maturity,
the city OF Oskaloosa hereby pledges its faith
and credit and the taxes levied and to be levied
and collected on all the property both real and
personal subject to and which may be subject to
taxation within said kcity. q. "a
Sec. 3. That hereafter at the time that the
other assessed taxes of said city are levied and
collected there shall be levied and collected in
addition thereto, SO long as any Of said bonds or
| coupons are outstanding and unpaid an annual
in said city subject TO taxation, sum sufficient
TO pay the interest for one year on all the out
standing bonds issued by authority OF this Ordi-
nance and remaining unpaid, which sum shall be
applied in payment of interest on said bonds,
and for no other purpose; and that at the usual
| time Of making such assessment Tor the year
next before the W ar that any OF said bonds shall
fall due, Cor sooner Ii the City Council shall
determine) there shall be levied and collected in
| the interest on said bonds an amount sufficient
to pay the full amount OF the principal of such of
said bonds as shall become due in that year, and
that the taxes SO levied and collected for the pay
ment OF said bonds ae they shall become due.
both as to principal and interest shall be sacred
set apart by said city for the purpose OF the pay
| ment OF eaid principal and interest, for the
| purchase by the city OF said bonds IL the City
Council by ordinance shall so direct: and that no
part Oh ealu TAX leVleu COileCJcu ever
| be applied to any other purpose whatever while
any part or portion OF said bonds or interest
coupons shall remain unpaid or unredeemed
Provided, that If the amount of tax SO levied and
| collected shall at any time exceed the amount OF
| unpaid and outstanding matured bonds and cou-
] pons, sucn excess may be appropriated to such
other lawful purpose pertaining TO the fire de-
partment as the City Council shail by ordinance
prescribe.
Sec. 4. 1t lie hereby made the duty of the City
Clerk TO keep a record of the amount date, and
| number of each bond issued under this ordi-
| nance. and the Mayor shall as soon as practical
| BILE place eaid bonds in the hands. of the City
| Treasurer for the purposes herein stated.
Sec. 5. That il shall be the duty of the Treas
rrer of said city as coon as he shall be advised
by resolution Of the City Council SO to do after
the said bonds are placed In his hands under this
ordinance TO apply the same in payment of the
debt contracted by the city for said Fire Engine
and said hose, in pursuance TO the several con-
tracts therefor heretofore entered into by said
city for said purposes.
Sec G. The Mayor shall cause the bonds pro
vided for by this ordinance TO be printed and
cons tructed as near practicable like those is-
sued by the city. under ordinance entitled, IAN
Ordinance providing for the issuing OF city ponds
''for the purpose OF providing additional secur-
'.ity againef fire and for purchasing street lamps,
gas posts, &C." published Nov. Is, 1879.
SEC I. This Ordinance to take effect and be In
force from and after its publication IN the weekly
Oskalooea HERALD, ana the Iowa Reform Le0deT.
City Clerk. Mayor.