The Providence news. (Providence [R.I.]) 1891-1906, 1895-04-15

THE CITY OF PROVIDENCE.

CHAPTER sse
An Ordinance Providing for the Issuing Of Sewer
(Approved April s. issS.)
II Is ordained by the City Council Of the City Of
Providence as follows;
the bonds Of .aa city 70 sa an nc %
the sum Of eight hundred thousand dollars, under
iss Of the public laws, passed By tho deDsrs
Assembly at the January session, A. ID. 1879, and
esasssi Assembly q, its May session. a D. issS and
Chapter si2 Of the Public Laws passed by the Gen.
tledxn act in sSendnsns IN Of fs' an &C, % entitled an
act In amendment OF chapter ass OF the public
act su,horising the City OF Providsace i to Il issue
sewer bonds and to establish a sinking fund tor
me redemption thereof passed at the january ses-
sHc. Q. The city treasurer, acting under the di.
dispose Of such bonds whenever and at such prices
ana In such amounts, as SAID committee
the proceeds arising from the sale Of said bonds
ana sad proceeds shall be applied for the purpose
statutes. and for no other purpose.
SIC T. Upon the sale OF said bonds or any part
therefor. issue or cause to be issued, uSdsr tbs
corporate name and seal Of the City OF Providence,
as sas Ss , II
accordance with such purchase or purchases In
be at the time hereinafter named with interest az
the rate OF four per centum per annum, payable
semi annually on the hrst days OF NAV and No.
yem5er in each year, after the date thereof, with
interest warrants annexed to each bond for the
beyeral sums OF interest, to become due semi
annually as aforesaid, or In registered bonds as
SEC T. The principal Of said bonds shall be pay
able on the first day of May In the year nineteen
hundred and twenty Ave, and both principal and
interest shall be paid in gold coin Of the United
States Of America equal 10 the present standard Of
hneness and weight at the National City
Bank of New York, and ali premiums or surplus
may be received from the sale thereof, shall be ir-
Teyoeaol pledged, aud appropriated to sinking
fund for the redemption Of said bonds.
SEC. o. Said bonds shall be signed by the mayor
and eountersigned by the city treasurer. and regis
tered by the citv clerk who shalt certify the regis
try OF each boud and the certificate OF the city
clerk that said bonds have been duly regstered BY
him shall be conclusive eyidc nee that sai
bonds have been issued and sold under the direc-
tion OF the committee finance. The intero 4
warrants OF coupons shall be signed by the city
SEC. g. The holders OF said coupon bonds may
Mt any time exchange the same for the registered
bonds.
the hrst days of May and November In each year.
detach from ali bonds at said date fss ed the
coupons on said bonds then matured, and shall
cause the same 10 be destroyed and shall report in
after said dates pectively al their proceedings
under this section until oil said bonds are Issued
and whenever any OF said coupon bonds are sur.
rendered for exchange said treasurer shall cancel
said bonds so surrendeTet by writing or stamping
upon the same the word cancelled" together with
his Official signature and the date Of such surren-
rendered, upon said surrender shall be delivered
to said committee finance, whJ shall cause the
said coupons TO be burned.
SEC. T. The C;ty Council shall annually appro-
pirate the sum of hfteen thousand dol ars for the
redemption OF said bonds at maturity, together
with sum sufficient 10 pay the semi-annual inter-
est thereon as such interest becomes due.
sEc Q. All ordinances and parts Of ordinances
| Inconsistent herewith are hereby repealed.