Marietta daily leader. (Marietta, Ohio) 1895-1906, 1899-06-02
An Ordinance,

Providing for the Issue and Sale of Ne
gotiable Coupon Bonds of the City
of Marietta, Ohio, to the Aggregate
Amount of Seventy Thousand Dol
lars for the Purpose of Erecting and
Constructing a Bridge Over and
Across the Muskingum River in Said
City.
Whereas, the voters of the City of
Marietta in pursuance of notice duly
given and published by the City Coun-
Gil of the City of Marietta,
Ohio, did on the Sd day of April,
"A. ID. 1899, vote to issue Sew
enty Thousand Dollars ($70,000) in
bonds for the purpose of erecting and
constructing a bridge over and across
the Muskingum River in said City;
and,
Whereas, more than two-thirds of
all the votes cast at said election were
in favor of issuing said bonds as re-
quired by law;
Therefore, Be it ordained by the
City CouncilSof the City of Marietta,
Ohio, as follows
Section /. That there be issued the
negotiable coupon bonds of said City
bearing date July /, 1899, for the ag-
gregate sum of Seventy Thousand
Dollars ($70O00)
Section 2. That said bonds shall be
known and designated as "Muskingum
River Bridge Bonds and shall be is
sued in denominations of $500 each,
and shall bear interest at the rate of 5
per centum per annum, from their
date, payable semi-annually; that the
principal and interest of said bonds
shall be payable in good and
| lawful money of the United States,
at the agency of said City in
the City of New York; that
said bonds shall be numbered con-
secutively from No. up to and includ-
ing No. l40, and shall be payable as
| follows, viz: Three of said bonds
shan be due and payable July 1, A. d.
1901, and three of said bonds each and
every six months there after, until all
OF said bonds and the interest thereon
shall have been fully paid.
Section 3. Said bonds shall be sign
ed by the Mayor and Clerk of said
City and shall he sealed with the cor
porate seal of said city; they shall
have interest coupons attached thereto
upon which shall be engraved or lith-
ographed the facsimile signature of
the Clerk of the City, said bonds may
be sold and disposed of by the Council
of the City from time to time as said
Council shall by resolution determine;
said bonds shall not be sold for less
than their par value with accrued in
terest
Section T. When said bonds or any
of them are sold the proceeds arising
from the sale or sales of said bonds
shall be placed in the treasury of said
City to the credit of what shall be
known as the Bridge Fund"
Section 5. That the proceeds arising
from the sale or sales of said bonds
shall be used in paying the cost and
expense of erecting and constructing
a bridge over and across the Musking-
um River in said City, including the
necessary approaches thereto and any
and all incidental expenses thereof.
Section g. That for the purpose Of
providing a fund sufficient to pay the
interest on any and all bonds issued
under said bond election, and the pro-
! visions of this ordinance, said City
Council shall provide Dy ordinance for
the annual levy of tax upon all the
taxable property of said City sufficient
to pay said interest and shall also
levy in addition thereto from time to
time, a tax upon all taxable property
of said city sufficient to redeem and
pay the bonds issued under the au-
thority of said bond election by their
maturity.
Section T. This ordinance shall take
effect and be in force from and after
the earliest period allowed by law.
Passed June l. 1899
b. f. WOOD,
President of Council.
CARL BECKER. CITY Clerk.