Morning journal and courier., 1882-01-24
finartial, PROPOSALS
 FOR WATER BONDS.

Sealed proposals will be received at the office of l THE FARMERS LOAN AND TRUST COMPANY, 26
 Exchange Place, in the city of New York, until noon
 of Monday the 9th day of February 1s82 for the pur
 chase any portion, all of five hundred thousand
 dollars of First Mortgage Six Per Cent. Twenty 1 hve Years Sinking Fund Gold Bonds. issued by the Council Bluffs City Waterworks Company, to aid in
 providing the for the construction of system Of Waterworks in the city of Council Bluffs, Iowa. Payment for all bonds allotted must be made direct to THE FARMERS LOAN AND TRUST COMPANY,
 by whom the entire proceeds of all the bonds will be held in trust and paid to the contractors from time to time during the construction of the Water works, which to be completed and put into oper- 1 ation on before January A, 1883.
 The bonds are in denominations of one thousand dollars each payable twenty-five years from De- tober 1s 1881 bear interest at the rate of six per cent. per have senli-annual coupons attach ed payable the first days of April and October in year; and both principal and interest paya- ble in United States gold coin in the city of New York.
 Payment of tho principal and interest of the bonds is secured by first mortgage conveying in trust to The Farmers Loan and Trust Company Cor the city of New York; 1st The entire system of Waterworks of the Company constructed and to be constructed and all it's property both real and personal of what
 kind and nature, acquired and to be acquired in connection herewith in the city of Council Bluffs Iowa. 2d. The Charter and Franchise, and the Contract with city of Council Bluffs. 3d. The Income and Revenues derived from water rents, for s0ater to be supplied for ttcenty0e years "7der se- caz contract to the city of Council BL3, and for water supplied to for domestic business, manu featuring, railroad and other purposes 4th. The Sinking Fund sufficient to pay of and retire all of the bonds on or before their maturity
 > The company is incorporated, under the laws or the State of Iowa. with capital stock of hun dred and fifty thousand dollars the purpose of in trOduc1nR supply Of water rom the hI1SSOur1 into the city of Council Bluffs, Iowa. and has the sole end ercsaue riqht and privilege, under special char ter and franchise granted by the city, to lay water pipes, operate waterworks, and supply the city and its inhabitants with water for fire protection for manufacturing purposes and domestic
 The city contains population of about 10000 in habitants It is the eastern terminus of the Union Pacific railway, whose transfer grounds, covering about thousand acres within the city limits are located the large Union Depot Hotel, Grain Elevator and Stock Yards. Seven other railroads centre in the city from the north east and south namely The Chicago, St. Paul, Minneapolis and Omaha; the Chi and St. Paul. the Chicago, Rock Island and Pacific the Chicago, Burlington and Quincy; the Wabash, Louis and Pacific, and the Kansas City, St. Joseph and Council Bluffs railroads. The State Deaf and Dumb Asylum is located between two and three miles By the provisions of the contract with the city of Council Bluffs the Company is to receive fSnlnlu, of t1osny uonsand doars yearly tor period Gf t,oey gears for water to be supplied to the city amount s to be fcreased rom tfne to tino iereaftes as additional hydrants required The validity of the contract has recently been unanimously affirmed by the Supreme Court of the S4ate of Iowa. The neg revenue from water rents for water to be supplied to consumers for domestic, business, manu- featuring, railroad and other purposes, and to the city for fire protection and municipal pur oses 1t IS estimated will amount testhe of S92,6OO yearly The interest and sinking fund charges amount will to the of $40, ,25O yearly.
 Proposals should be endorsed NProposa's for Water Bonds" and should be enclosed In an envelope ad- dressed to the Council Bluffs City Watsrworks Gem. pany, st the office of The Farmers Loan 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 bond of thousand dollars the accrued interest of which must be added thereto, and should be accompanied by check certificate of deposit, payable to the order of The Farmers Loan and Trust Company, for sum equal to ten per cent. Of the amount of the bid
 Bids will be opened Monday, the 9th day of Feb ruary, 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 bidders i'm
 post from unsuccessful bidders will at the same time be returned by the Trust Company. The remaining ninety per cent of the purchase money on the bonds allotted together with the accrued interest Loan aud Trust Company within sixty days there after. 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 to reject and all bids rot 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 Blus, Report of the Engineer, and Mortgage can be obtained on ap- plication to THE FARMERS LOAN AND TRUST COMPANY, 2e Exchange Place MEssRs. SEWELL x PIERCE, ATTORNEYS AND CoUNsELLoRs-Ar Ar-LAw, 2O6 Broadway; J. B. MCGEORGE,' 20 Broad Street; or at the office of the Council Bluffs City Waterworks Company, s5 Broadway. New York.
 By order of the Board of Directors.
 J. HERvEY DEMAREST, SECRETARY.