Marietta daily leader. (Marietta, Ohio) 1895-1906, 1900-03-09
A Resolution,


For the Issue and Sale of Negotiable
Coupon Bonds of the City of Mari
eta, Ohio to Provide for the Re-
demptlon and Refundlng of the
Principal OF the Outstanding Bonds
OF Said City, Bearing Date October
LIST, 1882 Issued Under an Ordinance
Passed by the City Council of Said
City on September 10, 1889.
Whereas the City of Marietta, Ohio
under an Act of the General Assembly
OF the State CT Ohio, duly passed on
the 10th day of April, A. d. 1889, and
in pursuance of an ordinance passed
by the City Council of said City on the
10th day of September,A. ID. 1889, issued
and sold its certain negotiable coupon
bonds amounting to $90,00O0O in the
aggregate bearing date on the 1st day
OF October, A. d. 1885, the principal of
which was and is payable in the City
of New York, in not less than ten
years or more than thirty years from
the date thereof, at the option of the
City Council of said City, which bonds
were so issued in denomination of
s50000 and $1,000 90, being eighty
bonds of the denomination of $50000
each, and fifty bonds OF the denomin-
alton of 100000 each, which bonds
bear interest at the rate of Az per cent
per annum, payable semi-annually in
the city of New York and have inter-
est coupons thereto attached for the
payment of interest semi-annually on
the first days of April and October;
and
Whereas all of said bonds are now
outstanding, are existing, valid ond
binding obligations of said city, and
are, and since October 1st, A. ID. 1899,
have been, subject to be paid and re-
deemed and refunded by said City and
it's City Council, at the option OF said
City Council; and
Whereas, said City and its City
Council find that it is for the best in
terest of said City that said bonds be
paid, redeemed and refunded, and said
City Council desires to exercise its
said option to pay the principal of said
bonds, and to redeem and refund said
bonds
Now therefore, be 1t resolved by the
City Council of the City of Marietta,
Ohio, as follows:
Section l. That said bonds dated
October 1, 1889. amounting to ninety
thousand dollars in the aggregate. are
hereby determined and declared to be
existing, valid and binding obligations
of said City of Marietta.
Section 2. That the principal of
said bonds, amounting to ninety
thousand dollars, be refunded. That
to provide means with which to pay
the principal of said bonds and redeem
the same, and for the purpose of re-
the principal Of said bonds,
there be issued and sold the negotiable
coupon bonds of said City of Marietta,
to be known as "Waterworks Refund
ing Bonds" for the aggregate amount
Of ninety thousand dollars, bearing
date January 1st, A. d. 1900, and pay
able to bearer at agency of said City,
t0wit: The National Park Bank, in
the City of New York, in the State of
New York, on the first day of January
A. d. 1920, in good and lawful money
0 fthe United States of America, bear
ing interest from date at the rate of
three and one-half per centum per an
mum, payable in like money, on the
first days of July and January. said
number and OF the denomination Cf
five hundred dollars each.
Section 8. Said bonds shall be sign
ed by the Mayor and by the City Clerk
of said City, and shall have affixed
thereon the seal of said City, and shall
have interest coupons attached there
to, fer the interest to become due
upon which shall be litho-
graphed or engraved the fac simile
signature of said City Clerk.
Section 4. Said bonds shall be sold
rs provided by law, and the proceeds
hereof shall be applied in payment !
and redemption of said bonds dated
October 1st 1885, hereinbefore men
toned and for no other purpose.
Section 5. Said bonds to be issued
and sold as provided in this resolution
shall be legal and binding obligations
Of the City of Marietta Ohio, and the
full faith and credit, and all the real
and personal property of said City, are
hereby pledged for the redemption CT
the same. The Clerk of said City is
hereby authorized and instructed to
advertise said bonds for sale accord
ing to law.
Section 6. This resolution shall
take effect and be in force from and
after the earliest period allowed by
aw.
Passed February 7th, 1900.
B. f. WOOD,