Butte semi-weekly miner. [volume] (Butte, Mont.) 1886-1890, 1888-06-02

Iotai OOl
| Thus it will be seen that we shall requir
at least SD, ,705 in excess of our stated re
sources to meet our requirements, and
probably $25, 900 would not be an over
estimate.
The claims upon our Treasury are ur
gent, and your committee recommend
| that the Council request OF the County
Clerk that an immediate levy O
TX mills be made. In this regard the stat
| utes provide that this may be done at any
time previous to September LIST. The Re
vised Statutes further provide (page 69) in
Section of IAN Act to Enable Cities and
Towns to incur indebtedness that any
incorporated city or town in the Territory
OF Montana, having an assessed valuation
OF twelve hundred thousand dollars OF
over, ia hereby authorized to submit to the
qualified electors of such city or town the
question whether coupon bonds shall be
issued on the credit OF such city or town to
an amount not exceeding two (2) per cent.
OF its assessed valuation for the purpose
OF constructing water works, public build
iugs, street grades, bridges, sewers, or other
public improvements. s.sz--,r-.-,
Section 2 OF said act provides for twenty
days notice Of such election, and defines
the nature of such notice. that ballots shal
that such election shall be conducted, re-
turned and canvassed in all respects as
other city elections.
Section of said act describes the meth
cd OF Issue and sale OF such bonds.
Section OF said act states that the
bonds authorized to be issued by this act
shall be in such form as the City Council
shall direct, and shall be of the denomin-
alton OF five hundred and one thousaud
dollars each. and that said bonds shall be
signed by the Mayor and City Clerk. Each
bond at thedate OF its issue shall be regis
tered by the City Clerk AMI shall be sold at
not less than par value and draw interest
at the rate of per centum per annum,
payable semi-an1ually. The money thus
obtained shall at once be paid into the
city treasury and applied to the purposes
determined by the City Council.
Section Of said act says: - tag to be
fixed by ordinance shall be fixed each year
for the purpose OF paying interess on such
bonds SO as to create sinking fund for
their redemption
Section 6 OF said act states that such
bonds shall be redeemable in fveyears and
payable in twenty years.
Section OF said act constitutes the
Mayor, City Clerk and City Treasurer, Com
VI oAiO WINNING uha dAu uCuhSS
the method OF paying interest and redemp.
ton OF bonds, and further, for the loaning
OF surplus funds.
Now, your Honor and Gentlemen OF the
Council. having made comprehensive
statement OF our known requirements, and
the specific nature OF our resources, / par
tieularly desire to call attention to the
grave responsibilities resting upon our
shoulders. Our only duty is to she people
whom we represent. and the manner in
which we discharge that duty will affect the
evil. commercial and financial interests oil
every individual within our limits. Either
Butte shall rank as q prosperous, progress
siVe city, or she shall stand last in the rut
pf sluggishness. and her people will suffer for
lOr uur failure TO do our whole dut
The opportunity is here. and If We pc
lorm cur parts honestly, eonscientiousl
and faithfully and still fail to re Give tn