The Leavenworth weekly times. [volume] (Leavenworth, Kan.) 1870-1880, 1878-01-24
TO BE RE.sGNDED.
The S250.0o0 in Missouri River
Railroad Bonds, Considered
BY the City Council
Last Might.
Thirty-Five Gents on the Dollar to
be the Amount fixed to be
paid with rate Of Sew
en- per Cent Interest.

The regular meeting Of the CITY Council
| took place last night at the court house with
| Mayor Umnethun presiding and the follow
ing Councilmen present: MeSsrs. Fem,
| KrezdOrn. Pryzby iowicz Shoemaker, Sar-
| gent. Smith and O'Brien, a. Absent, J. W.
! SpratIey, %. The reading Of the minutes
| were on motion dispensed with and several
! bills were rad and referred to the proper
| committees. -Four applications for liquor Ii
| cense were pres nled and accepted.
| Clark & Co, bankers surrendered their con-
tract as custodians of the city funds and new
contract was concluded with the German b. nix
the rate OF interest TO be paid u the city being
four per cent. ON all deposits. The rate for
| merry pa d WAS SIX per cent.
An ordinance granting W. 4, Hau- certain
privileges on the levee. relative 10 moving
frame house to place designated between
Cherokee and Delaware was defeated,
| the vote being four ~ -, and three hayes.
Til. most import ut business Of the evening
was next introduced and discussed. II con-
sisted IN tine taking up of the matter of the
MISSOURI RIVER RAILROAD BONDS
now outstanding, 10 the value 4 S-JpCD9. A.
There have bes n some paTts"- ..g r.u :. .!Iu.
To take ten year bonds. b-aring7 y 4 cent on
the dollar. IL was finally the unanimous
feeling of the council That all the ind bf. l.
Hess IN THAI dircct!on- could b. disDoS- -
ia the same manner. hence the following
an tiOn passed 10y the following vote: Ayes
absent 4. The ordinance reads a. follows:
sTHE ORDINANCE
No. $50
An ordinance for the refunding of all matur-
ed and maturing bonds ISSUED ON account
of any rasIoad company, including accrued
interest amt Judgments Rendered iUcr' ON.
IL" II ordained By The NrsOr dad LotDicidHen Of
Use Guy ej Lr1reHscOTiE:
SLCTIOSl. InaI under ana IN pursuance
OF the provisions ot AN act OF the legislature
OF The state OF Kansas, entitled AN act 10
enable cities of the nr>t class 10 refund G rLaiu
iHdeBIl i-.c>> therein specified" approved
VI rc!I Il \. d., lS.I, ana iJE iI.c purpose OF
'unuIn- all the iaaIuTed and maturing
bonds OF =, d city, issued on account OF any
Sub>CTl pt!On 10 the capital stock oil the Mis-
souri, River Railroad Company inc uding al
ACQUIRED interest ind juugneut ~ lIered on
any such bonds md interest, by issuing new
UDnd> Of the said city IL fulI payment there
for, that tie Mayor and CIiy Clerk OF The
sad Cry are her by auILprized under lii.
SAID act and the provisions Of this
uruinaEre 10 issue bonds for the
purIo>.. aforesaid TO the holder OF
any such ind bIednesS III the dcnDnina' ions
OF two hundred dollars, i've hunured tiDl-
lar o. NJ. aIc Thousand dollar, is occ;tS,D On
may 9, are The same TO b. n interest al
tue IA 81 seven Der crutum per annun,
payable >smI-annGalIy On the nr>t days OF
January ana july ~ "s.''. ar, WIN proper
coupons attached Ifier, s-iId bonds 10 be- |
signed by tie Mayor an ely i X, Hn' a. /
tested D. the sal Of The titE- ~. lIe cpupO..~
need be signed by the Cay Clerk only, iIu 4
obligations shall be payable yrirn pfiirril:,I
and interest at the Office of The GIty frea- |
SuIcr.
SEXTON .. That said bonds snaIl be is |
SEED la Iuii payment OF SAID outs sHdin = nD- /
legations and Indebtedness, IN sccar,.sIc. !
with the determination ana resolution .Ier.-
toiprc adopted, a follows, lO-wIt: SIcn new |
bonds to be issued in full payment and salts |
ia"sion OF amy, ana all such Indebtedness,
Whenever Requested by any holder thereof, \
upon The delivery OF the evidence oT SJl rh an
debiedne~> 10 the Clerk, and tn execution |
Of Release and cancellation Of amy |
Judgment thereon. Saii bonds 10 be Issued Ia /
such holder of iudrbi eun">s 10 the amount oI /
thriy-fiye $50 cents ON the dollar al the To al
am unt Of such bona or Judgment and the |
accrued Interest thereon.
SECTION ). That IA the payment and re- /
funding vi said Indebtedness aforesaid, /
aad upon the terms and specifications herein |
before stated, said refGndIng bonds shall b. |
issued in different series, payable a. follows,
to-wil: Ten thuu-stnd dollars on the lirNi daV |
of July, \. -. lnS1, and the same amount on
the iir>i day Of July in each year thereafieT,
until the IaSt are dae ana pay able.
SECTION l. The CI;y CLERK shall kcepa rec
ord oi aii bonds issued under the provisions
oi tai> set. showing The date, number ana
amount thereof, Ia whom and on what ac-
count issued. and shall make entry on
The record Of every bond refunded, of lis |
Ifaymen by the issue of "A new bond under
Tins act, and shall writ. in "a plain manner
the wsTds Paid ia lu!!" ACROSS the lac OF
ach bond ana coupon - paid and refunded,
a. the time and b,.ipr,. the issue of the ney.
bond, therefor, and shall die and preserve |
bonds and coupons 80 paid, as cancelled OBJ
legations of the city.
SEXTON }. Thai il is hereby made the du-
~ al the City Council IN each year To provide
a Suiiiciun lund tO lay the Interest accI uing
an said bonds and also the principal OF the |
same, according Ia the tenor theresa, by levy |
ln= and collecting IN each year, a TAX suih-
c4ent for that puIIO
SECTION q. T:i> Ordinance shall take effect
ana Dr IN fore from and after its approval |
and publication. \ proved 'nuary 10Th, A.
II 1855. GFu. IMMITIIUN. Mayor. |
Attest A: FREED. NJ. SPAULDING. city Clerk
After the transaction OF some other bu>i-
ines, the council adjourned.