The Providence news. (Providence [R.I.]) 1891-1906, 1893-02-20

An ord nance for Issuing a Water Loan for the
city OF Providence,
tApproved Feb. 4, 1923
II Is Ordained by the City Council of the city of
froyid nee as follows:
Section L. The City Of Providence will issue th
bon bonds 80 OF SAD city TO an amount not exceeding he
bars, under and by virtue OF the provisions OF
chapter 5Zs Of the Public Laws OF The state Of
hhUle Island aud Providence Plantations, passed
April ~ lSid and ehaptsr S75 OF said Pub c l. ws
Laws passed April 30 1891, All OF said acts 6eing
In amendment OF and IN addition to chapter 90 Of
An Act for supplying ths CITY OF Providence with
Sec. 2. The city trea su rer. acting under the
direction Of, the Joint standi c,mmittee, on
finance. sha sell and dis OF such bonds when
said committee shall determine; and said treas
nrer 81 shall reeve eS the proceeds arising from the
Pied pn f9G The p1rPose @ FAMED IN IN saa chap ers
see @ Upon the sae e of .aid Sonds any part
thereof. said city treasurer shall, upon payment
thereto issue cause 10 be issued under the COR
porate name and seal OF the city Of Providence, to
the person or persons, purchasing the SSam, an
accordance with such purchase or purchases,
In equal amounts Of one thousand dollars each
est AT the rate OF four per centum per annum pay
able semi annually. on the first days OF April and
October in each year, after the da.e thereof, with
interest warrants annexed 70 each bond for the
ally as Aforesaid, or In registered bonds as Lerein-
Secl The principal OF said bonds shall be pay
able the first day OF April IN the year nineteen
hundred and twenty three and 10 principal and
interest shall be paid in gold coin OF the United
states OF America, equal to the present standard OF
nneness and weight at the National city Bank OF
above the par value of said bonds which may be
received from the sale thereof shah be irrevo cab y
pledged and appropriated TO sinking fund for the
redemption OF said bonds.
See s. said bonds shall be signed by the mayor
and counter Igned by the city treasurer, aud reg
i-tered by the city clerk who shall certify the
registry OF each bond; and the certificate OF the
city clerk that said DO IDS have been duly regis
tered by him shall be conclusive evidence that said
bonds have been issued and sold under the direc-
| tion Of the committee on finance. The Interest
| warrants or coupons shall be signed by the city
| treasurer only.
Sec. q. The holders of said cou on bonds may al
any time exchange the same for registered bonus
| payable at ghs Office OF the city treasurer.
Sec. Z: Tue SAID commit ee on finance shall, on
tach from all bonds not at said dates issued, the
| coupons said bonds then matured, and shall
cause tee same TO be destroyed and shall report In
writing the city council AT its next meeting after
| said dates respectively, all their proceeding
| under this section, until all said bonds are
snrrendered Tor exchange said Ircasier shall can
Gel said bonds 30 surrenderej by writing or stamp
| ing upon the same the word cancelled together
with MS official signature and the date OF such sur.
render ana the coupons on all said bonds so sur
rendered upon said surrender, shall be delivered
TO sad committee on intnce, who shall cause tn,
| said coupons 10 be burned.
sec =. The City Council shall annually appro
| pirate a sum suiiiceut 10 pay the semi-annual In
terest on said bonds such interest becomes due.
See o. All ordinances and parts OF ordinance,
| inconsistent herewith are hereby repealed,
Witness WILLIAM f. CLARKE.
f2O-3t City Clerk