The Portland daily press., 1882-01-27
MISCELLANEOUS
PROPOSALS
WATER BONDS.

THE FARMERS LOAN AND TRUST COMPANY,
26 Exchange place, in the city of New YORK, uutil
noon of Monday, the sixth day OF February 1857,
for the purchase of any portion or all of five
hundred thousand dollars of the First Mortgage
Six Per Cent Tgentyye Years Snkng fg Water Tang
Works Company, to aid in provl1lng the means ior
the construction of system of Water Works In the
city of Council Bluffs, Iowa.
PAYMENT for all bonds allotted must be made dir
ect to THE FARMERS LOAN AND TRUST COM
PANY by whom the entire proceeds OF all the
bonds will be held trust and paid over to the con-
tractors from time to time during the construction
of the Water Works, which to be completed and
put into operation on or before January "a, 1858
The bonds are in denominations of one thousand
dollars each; are payable twenty-five years from
October LIST, 1885, bear interest at the rate OF SIX
per cent, per annum; have Seml-annu coupons
attached PAYABLE the first days OF April ana Oc-
tober in each year, and both principal and interest
are payable in United States gold coin in the city
| of New York.
PAYMENT of the principal and interest of the bonds
is secured by first mortgage conveying in trust. to
The Farmers Loan and Trust Company (of the city
of New York;. LIST. The entire system OF Water
Works of the company, cons tructed and to be con-
structed and all its property, both real and person
al, of whatsoever kind and nature, acquired and to
Council Bluffs, Iowa. I'd The Charter and Fran
chise, and the Contract with the city Of Council
Bluffs. Sd. The Income and Revenues derived
from water rents for acaer to be supplied for tacenty-
fire gears under special contract to the city Of
Council Bluffs and for water supplied to consumers
for domestic, business, manufacturing, railroad and
| other purposes 4th. The Sinking Fund sufficient
to pay off and retire all of the bonds on or before
| their maturity.
| The company is incorporated, under the laws of
the State of Iowa, with capital stock OF seven hun
dred and fifty thousand dollars for the purpose of
| introducing supply of water from the Missouri
River into the city of Council Bluffs Iowa. and has
the sole and erctatsive right and privilege under
special charter and franchise granted by the city
to lay water pipes, operate water works. and supply
the city and its inhabitants with water Tor nre pro-
lection, for manufacturing purposes, and Tor do
nestle uses.
The city contains a population OF about 10000
inhabitants 1t is the eastern terminus of the Union
Pacific Railway, on whose transfer grounds, cover
ing about thousand acres within the city limits,
are located the large Union Depot, Hotel, Grain
Elevator and Stock Yards. Seven other railroads
centre the city from the north. east and south,
Onaha; the Chicago and Northwestern, the Chic
ago Milwaukee Sand St Paul; the Chicago, Rock
and Quincy; the Wabash, st. Louis and Pacific,
and the Kansas City. St Joseph and Council Bluffs
Gated between two and three miles from the centre
of the city.
By the provisions of the contract with the city of
Council Bluffs the Company is to receive minimum
of tscenty thousand datlars yearly TOR period
of ttcent- gears for water to be supplied to the
city for fire protection and municipal purposes, and
this amount is to be increased from time to time
hereafter additional hydrants are required. The
validity of the contract has recently been uDani
mously affirmed by the Supreme Court of the State
of Iowa.
The net revenue from water rents for water to be
supplied to consumers for domestic business,
featuring railroad and other purposes, and to the
city for fire protection and municipal purposes tits
estimated win amount to the sum of S92 500 yearly
The interest aud sinking fund charges will amount
to the sum of SAC, ,25O yearly.
Proposals should be endorsed proposals for
Water Bonds and should be enclosed in an enyel-
epe addressed to the Council Bluffs City Water
of 1nrGsT sTlNon
and Trust Company, 26 Exchange Place New York.
Each proposal should state the amount of bonds
required and the price the bidder is willing to pay
for each bond of one Thousand dollars the accrued
interest of which must be added thereto and should
be accompanied by check or certificate of deposit
payable to the order of The Farmers Loan and
Trust Company for a sum equal to ten per cent. of
the amount OF the bid.
February, 1882, at the Office of The Farmers Loan
and Trust Company. and the allotment will be made
and due notice thereof sent to the successful bid
ders Immediately thereafter. Checks and certlh-
Gates of deposit received from unsuccessful bidders
will at the same time be returned by the Trust
Company. The remaining ninety per cent: OF tho
purchase money the bonds allotted together with
the accrued interest thereon will be due and paya
bic to The Farmers Loan and Trust Company with
in sixty DAYS thereafter Upon the receipt of each
final payment. the Trust Company will deliver the
bonds pertaining thereto to the purchaser or to his
order.
The right is reserved reject any and all bids not
deemed for the best interest of the Company.
Blank proposals, also pamphlets containing copies
of the Articles of Incorporation Charter, Franchise
Contract with the city of Council Bluffs Report of
the Engineer, and Mortgage can be obtained on
application to THE FARMERS' LOAN AND
Trust COMPANY, 26 Exchange Place; MEssRs.
SEWELI. Il PIERCE, ATTORNEYS AND COUNSEL
LoRs Ar-LAw, 2O6 Broadway: j. B. MCGEORGE,
20 Broad Street, the office of the Council Bluffs
City Water Works Company, 80 Broadway, New
York.
By order of the Board of Directors.
j. HARVEY DEMAREST, SECRETARY.
jan25 DIT