Marietta daily leader. (Marietta, Ohio) 1895-1906, 1900-03-02
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 Refunding of the
Principal of the Outstanding Bonds
of Said City, Bearing Date October
1st. 1889. 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 Of. 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. 1883, ISSUED
and sold its certain negotiable coupon
bonds amounting to $90,000.00 in the
aggregate bearing date on the 1st day
of October, A. D. 1SS9 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
$4,000 and 100000, being eighty
bonds of the denomination OF $4,000
each, ard 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 It's
said option to pay the principal of said
bonds. and to redeem and refund said
bonds:
Now, therefore, be it resolved by the
City Council of the City of Marietta,
Ohio, as follows:
Section l. That said bonds dated
October /, 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 q 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-
funding the principal of said bends
there be issued and sold the negotiable
coupon bonds of said City Of Marietta
to be known as "Waterworks Refund
inc Bonds" for the aggregate amour
cf ninety thousand dollars, bearing
date January 1st, A. d. 1900, and pay
able to bearer at agency of said City
tcwit: The National Park Bank, II
the City of Nav York, in the State o
New York, on the first day of Januar!
A. d. 1920, in good and lawful none!
O fthe United States of America, bear
ing interest from date at the rate o
three and one-half per centum per an
mum, payable in like money. on tn
first days of July and January salt
bonds to be one hundred and eighty il
number and OF the denomination C
FIVE hundred dollars each.
Section 8. Said bonds shall be sign
ed by the Mayor and by the City Cler
of said City. and shall have affixe
thereon the seal of said City, and shal
have interest coupons attached there
to. fer the interest to become du
thereon, upon which shall be litho
graphed or engraved the fac simil
signature of said City Clerk.
Section 4. Said bonds shall be sol
as provided by law, and the proceed
thereof shall be applied in paymen
and redemption of said bonds date
October 1st, 1899, hereinbefore men
toned and for no other purpose.
Section 5. Said bonds to be issue
and sold as provided in this resclutio
shall be legal and binding obligation
of the City Of Marietta, Ohio, and tn
full faith and credit, and all the res
; and personal property of said City, ar
hereby pledged for the redemption
the same. The Clerk of said City
!, hereby authorized and instructed I
advertise said bonds for sale accord
, ing to law.
| Section 6. This resolution sha
take effect and be in force from an
, after the earliest period allowed b
law
Passed February 7th, 1900.
B. +. WOOD,
President of City Council