Rocky Ford enterprise., 1899-05-25

TRACTION or AN IsDEnrEDNEss uPoN
m Fn.p. oGenn Ce%oI,.no, I % ny rms % issvASeg ' OF
Tus NEGOTIABLE COUPON BONDS or
SAID TowN. ron THE PUnpoSE or THE
SUppLY SAID Town WITH WATER YoH
FinE AND DOMESTIC PURPOSES.
De 1t OrdaIued by the board or Trustees OF the
Town OF Rocky Ford:
Section /. That for the purpose of tho con.
struction OF Water Works to supply the said
domestic PURPOSES, y bonded Indebtedness OF
said town OF Rocky Ford. upon the credit OF
said town. Is hereby authorized to be In
Cured and contracted, In the sum OF ten
thousand dollars tslU.OUD.UOJ. by the issuance
of tho negotiable coupon bonds OF said town
the principal oi. and interest on said bonds
shall be payable in lawful money OF tho
United States of America. ashcreinsftcr pro-
vided,
Section 9. Said bonds shall consist Of ten
uU) bonds OF tne denomination OF one thou
Number One ID to Number Ten uO) both
numbers inclusive: shall become due aud pay
nSs At .S s9s %. f" & bs
Hereof The said hcnds shall be pay,i;,
the aftecnih day, OF May. A. d., 1889: shall
bear Interest ut the rate of fivc ~ per cent
semi uuaIIy on the fifteenth day OF No
venbcr and the htteenth day OF May OF each
yenr. ~ the office of the Town Treasurer OF
house Of Komntze Broihers. OF and in the
city. county and state OF New York. y. .. A..
semtannuni interest shall be evidenced by
interest coupons annexed to each OF saio
boods, each OF which coupons shall evdeheo , 90
each OF such bonds, and such Interest UPON
each OF such bonds shnll be paid ut the place
| M they severully become due. Said coupons
| shall be numbered from Number one ID To
Number. Thirty 600 inclusive. ana D.ar ., tne
Section ). The said bonds, and each Of
| them. shall be signed by the Mayor, nttcsted
| by the Town Clerk and Recorder Of SAID town
and be counicrsIHncd by the Treasurer OF
said town. " their 9iiiG,a ,hnreiu fbs S cerpo
| rate seal of said town: and each ana every OF
| SAID coupons shall be signed ny ine ti trchsuLer
nul or Autographed signature. and said cou,
| pons shall respectively. when so Signed ana
eaMsideycd' and the SAME are hereby declared
to be the lawful and proper prisimai nunHu ~
tions of said town securing thc pnymens "
such interest In tho hands OF nii pcrsonS 10
to whom they may come. -.
| Section I. The interest nccruing on said
bonds shall be paid out of and from inc mon.
cys derived by said town from tho wafer
rentals OF Its said water works, which SAID
| rentals or 50 mach thereof Us may w hccSss,
sary are hereby appropriated and SET asiuo
| for such purpose. But in case the moneys
| derived from such rentals shall In any year
! Cr at any time not be sufficient to maintain
|
| nccriIcs and for the year in which II falls due
| then and In that event. tax shall be levied
upon each and every dollar OF valuation oi
the taxable property within said town. Tor the
year In which such deficiency occurs. TO be ei-
| fectunted ut the time of the lcvying OF other
town taxes. II tax suihcient 10 pny tne nss sS ~
| annual interest uccruing upon shid DOnds "
! IL falls due; until the said bonds are Iuiiy
| paid, satisfied and discharged; anu there Is
MS" "'',py ieS,S1 E,sc ,wp h thousand d6iais oyo
IN the ca a. ne -'"ripal Of the debt OF sa,a
| bonds within fifteen rs, years ..om
thereof, and the taxing nnd collecting officers
uuirci, to levy, eXteno and collect, such tax
| cs annually, as they shall become necessary
snnc only 10 the purposes in this ordinance
specified. until the said Indebtedness so con-
triicted under this ord shall be FULLY
paid. satisfied and discharged, both principal
and Interest.
This ordinance shall be irrepealable until
have been fully paid, satisfied and dis-
charged.
sectIonb. 1t shall be the duty OF the board
OF Trustees OF said town. at the time and in
town taxes. lf such action is necessary to ef-
fectunte the provisions of the Ordinance. to
ratify and carry out the provisions thereof In
reference TO the leyying of taxes and TO re.
a anirc cac' ths 9ecLs @ o, sag ,oWn % 70 Levy eHtena
nting fund for the payment OF said bonds
IT maturity: md the Interest thereon as IL
falls due. Said taxes when collected shall b0
kept for, and applied only TO. the payment OF
the Interest and principal of said bonds. ia
hcreinbeforc specified. All bonds redeemed.
and coupons paid. shall he cancelled or des.
troyed. as the said Board of Trustees OF said
town mny direct.
Scction6. That said bonds bc sold or dis
posed OF ut public or private sal" by tho
Bonrd of Trustees OF said town. on such
terms and at such price said board may
Judge best, and the proceeds thereof applied
70 the purpose for which said bonds are Is
sued.
Tho uurehaser mr. purc I'm aers NJ s,ll
directly or Indirectly be responsible for the
application. OF the moneys derived from tho
disposition or sale of the same.
Section ]. This ordinance shall take effect
and bc In force from and after its publica-
tiun us required by law.
Passed and approved. this 10Th day of May,
a. D., loo9
Attest: w. J. MCDONALD,
II. +. RUsHMER, Mayor.
Town Clerk and Recorder.