, 1884-03-16
CHAPTER Ia.
Ehpypnne ~City-Bonds.

ANAcr authorizing the City IF Cheyenne to Issue bonds for the purpose of
works and sewerage, and to extend the present waters system n said city
BE it enacted by the Council and House Of Representatives of the
Territory Of WyOpng
SECTION l. That the mayor and city council of the
city of Cheyenne are hereby authorized, for the purpose
of funding the existing floating Indebtedness of the city,
ION account of water works and sewerage, and to extend
the present water system in said city, by vote of the city
council, to issue coupon bonds of said city, which shall
be numbered from one, upwards, and said bonds shall be
of the denomination Of five hundred dollars each, pay
able in twenty-five years from the date of issue, redeem
able at the pleasure of said city after five years, and shall
bear interest at n rate not exceeding seven per cent. per
anuum, payable annually on the first day of January, in
each year, the principal and interest payable in lawful
money of the United States of America, at the Office of
the city treasurer of the said city of Cheyenne, and at
such other place or places as shall be designated by the
city council of said city. Said bonds shall be signed by
the mayor and countersigned by the city clerk and city
treasurer of said city, and may be sold and disposed Of
to an amount sufficient to fund the existing floating
Indebtedness of said city, on account of water works and
sewerage, and to extend the present water system in said
city, as the mayor and city council may determine the
wants of the city and its inhabitants demand, for the
year 1884; not, however, to exceed the sum of ~sixty-five
thousand dollars: Prorded, That said bonds shall not be
sold for less than n~inetyIive per centum of their par
value, and no greater amount of said bonds shall be
issued than may be found necessary for the purposes
herein specified.
SEC. ,. The city treasurer of said city shall keep q
book in which shall be registered all of said bonds,
showing the number of each bond, the date of issue, to
whom issued, amount, date of redemption and payment
of interest, which book shall be open to any and all per-
sons desiring to examine the same during business hours.
SEC. g, All of the taxable property of said city is
hereby pledged for the payment of the said bonds, prin-
cipal and interest, and there shall be annually levied and
collected on all the taxable property, real, personal and
mixed, within said city, a sufficient tax to pay the inter
est on said bonds, us the same becomes due, aud to
redeem said bonds, as provided in this act; which tax
shall be levied and collected in the same manner as other
taxes of said city Prorided, hO1cerer, That said tax shall
be paid in cash, and shall be known as the g water and
sewerage bond tax, and shall be used for the payment
of interest and principal of bonds issued under this act,
and for no other purpose.
SEC. 4. The said city of Cheyenne shall, each year
from the sixth to the tenth year, both inclusive, after the
issue of said bonds, redeem at least one-twentieth of all
the bonds issued each year from the eleventh to the
fifteenth year, both inclusive, after the issue of said
bonds, the said city shall redeem at least one-fheenth of all
the bonds outstanding; each year from the sixteenth to
the twentieth year, both inclusive, after the issue of
said bonds, the said city shall redeem at least one-tenth
of all the bonds outstanding each year from the TWEEN
ty-irst to the twentytifth years, both inclusive, the said
city shall redeem at least one-fifth of all the bonds out
standing at the commencement of the last named period.
The bonds shall be redeemed in the order of their issue
SEC. 5. 1t shall be the duty of the city treasurer, as
rapidly as the coupons representing the interest on said
bonds are paid, to cause the word g paid to be cut in
the same, and as rapidly as the said bonds are paid shall
cause the word "paid" to be cut in the body of the
bond.
SEC. 6. The city treasurer of the said city of Chey-
enne shall be the custodian of all moneys arising from
the sale OF bonds, under this act, and he shall give such