The Providence news. (Providence [R.I.]) 1891-1906, 1897-03-13
CHAPTER 773.
An Ordinance for Issuing Water Loan FOR
the City Of Providence.

approved March 2. 1917
IL Is ordained by the City Council of the CITY
OF Providence as follows: a.,
SECTION j. The city OF Providence VIII
issue bonds OF said city 10 the amount or TWO
hundred aud fifty thousand dollars, under ann
py virtue or the provisions OF Chapter lxp OF
s'lld Public Laws passed March z, lsyj, being
m hgt IN amendment of and in addition 10
Shapter GAO OF said Public Laws passed March
Is 1865, entitled IAN Act for Supplying the
civ Of Providence with Pure Water
SEC. :. The City Treasurer, acting under
the direction Of the Joint Standing Committee
on Finance, shall sell and dispose OF such
bonds; bonds; and said Treasurer shall receive the
proceeds arising frCm the sale OF said bonds,
and said proceeds shall be applied for the pu1r-
SO named In said Chapters OF the Pubic
Laws, and for no other purpose.
SE,. s. Upon the sale OF said bonds, said
city Treasurer shall, upon payment therefor,
ISSUE or cause 10 be issued, under the corpo-
rate name and seal OF the City of Providence,
TO the person or persons purchasing the same,
an amount Of said bonds Of the City OF Provi-
dence IN accordance with such purchase or
purchases in equal amounts of one thousand
dollars each, payable at the time hereinafter
named, with interest at the rate of four per
centum per annum, payable semi-annually on
the first days ~ April and October in each
year after the date thereof with interest war
rants annexed 10 each bond for the several
sums OF interest, 20 become due semi annually
after provided.
SEC. 4. The principal Of said bonds shall
be payable ON the first day OF April in the
both principal and interest shall be paid in gold
coin OF the United States of America, equal TO
the present standard OF fineness and weight
at the National City Bank of New York, and
all premiums or surplus over and above the
par value Of said bonds which may be received
from the sale thereof shall be- irreyocably
pledged and appropriated 20 Sinking Fund
for the redemption Of said bonds.
SEC. B. Said bonds shall be signed by the
Mayor and couDtersigned by the City
Treasurer and registered by the City Clerk,
who shall certify the registry OF each bond /;
and the certificate of the City Clerk that said
bonds have been registered by him shall be
conclusive evidence ihat said bonds have been
issued and sold rs hereinbcforo provided. The
interest warrants or coupons shall be signed
by the Citv Treasurer only.
SEC. 4. The holders OF said coupon bonds
may at any time exchange the same for regis
tered bonds, pay able at The Office OF the City
Treasurer.
SEC. Z. Whenever any OF said coupon bonds
are surrendered for exchange said Treasurer
shall cancel said bonds so surrendered by writ
ing or stamping upon the same the word
cancelled, Z" together with his official sigma
ture and the date of such surrender, and the
coupons on all said bonds so surrendered, upon
said surrender shall be delivered TO said Com.
mitteo ON Finance, who shall cause the said
coupons 10 he burned.
SEC. 3. The City Council shall annually APP
propriate n sum sufficient To pay the semi
annual interest on said bonds as such interest
becomes due.
SEC. 8. All ordinances and parts Of ordi-
nances inconsistent herewith are hereby re
pealed.