The Providence news. (Providence [R.I.]) 1891-1906, 1893-02-21
THE CITY OF PROVIDENCE.
CHAPTER CDXLv.
An Ordinance providing for the Issuing OF Sewer
Bonds.

CHAPTER CDXLV
An Ordinance providing for the Issuing OF Sewer
tApproved February 4. 1881
1t is ordained by the City Council of the City Of
Providence as follows;
Section ]. The City OF Providence will issue the
bonds OF said city TO an amount not exceeding the
sum of Ave hundred thousand dollars, under and
public laws passed by the general smbly az the
January session, A. D. 1873. rnd chapter 3ss OF the
May session. A. D., 1889, and chapter eis Of the
aolle laws. PISSED py the general assemby at It's
amendment OF an act entitled an act in amend
ment OF chapter ts3 OF the public laws. entitled
City OF Providence TO issue sewer bonds and to es
tablish sinking iund for the redemption thereof
passed at the January session. To-
rection OF ibe committee finance, shall sell and
and in such amounts. as sad commiItee shall de-
termine; and said treasurer shall receive the pro-
proceeds shall be applied for the purpose named IN
said chapters i33 3sl and 9i2 OF the statutes a1d
Sec. 3. Upon the sale Of said bonds or any part
ereof, said city treasurer shall upon the payment
ate name and seal of the City OF Providence t. the
pf said bonds Of TIE City OF ProyidSnee in aesord
nGe Mn N @ea Rnrenase Fl
the time hereinafter named with Interest at the
rate OF four fsr oentnm , per annum, PAYABLE SENT
each year. after the date Thereon, with Interest
warrants annexed to each bond for the several
OF interest,", 10 become uue semi annually
Aforesaid, o. In registered bonds as hereinafter
provided.
SEE. A. The principal Of said bonds shall bc pay
able the first day OF ADrl, I'm the year nine cen
hundred and twenty-thrte. AID both prime pal and
in crest shall be paid In gold coin OF the United
States of America equal TO the pres ent standard OF
fineness and weight at the National City Bank OF
New York. and al pemiums or surplus over and
r. ,iyed from the sale thereof shat be irrevocably
ID eIged, and appropriated TO "a sinking fund for
the redemption OF said bonds
Sec. s. Said bonds shall be signed by the mayor
and countcrsigned ny the city treasurer, and reg
istersd by the city clerk, who shall certify ths
registry of each bono; and the Certincaie OF the
city clerk that said bonds have been duly regis
tere by him shall be conclusive evidence that
said ponds have been issued and sod under tho
direction OF the committee on finance. The inter-
est warrants or coupons shall be signed by the
city Or asuIer only,
at any time exchange the same for the registered
bonds.
See T. The said committee on finance shall on
the first days OF April ana October In each year, de-
tich from all bonGs not az s,d dates issued, the
coupons said bonds then ma urea. aud shall
cause he same to be destroyed. and shall report la
writing 20 the city council. at IT'S next meeting.
under this section, until all said bonds are issued
aud whenever any Of said COupJn bonds are sur
rendered for exchange said treasurer shall cancel
said bonds so surrendered by writing or stamping
his official signature and the date OF such sur
render. and the coupons on all Sail bonds sur
rendered. upon said surrender shall be delivered
Ia said committee on h,tance, who snail cause tho
said coupons To be burned.
See S The city Council shall annually appro-
pirate the sum OF ten thOu-and dollars for the re-
dempton OF said bonds al maturity together with
n sum sufficient 10 pay the semi-annna interest
thereon n such interet becomes due.
Sec -. AZ ordinances and parts Of ordinances
inconsistent herewith are hereby repealed.