The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1901-06-03

ally, the same to be evidenced by in
terest coupons attached to each scrip
warrant eyidencing said scrip and
the principal and interest of such
scrip shall be payable at the office of
the city treasurer of the city Of Guth-
rie. Oklahoma territory. such scrip re-
citing that 1t is ISSUED under the pro
visions Of Chapter s Of the Session
Laws Of Oklahoma territory Of 1901,
being an act entitled "An Act Author
izing Cities to Issue Scrip approved
February q, 1901, and shall be sold
at not less than par, and said scrip
shall be made payable to bearer
Sec. 3. There is hereby created for
the said city of Guthrie and the hold
ers of said scrip a special fund to be
called "Clty of Guthrie Water Works
Scrip Fund" and the city of Guthrie
shall at the time for making the levies
of the annual taxes for said city, levy
by ordinance taxes sufficient tc pay
the full payments falling due on such
scrip each year and the semi-annual
interest on all such scrip, and the
taxes for said fund shall be collected
and paid into the city treasury as
other taxes are collected, and the city
treasurer of said city shall on pre-
sentation of said scrip ard Ike inter
est coupons thereon pay the same as
they mature, tc the holder of such
scrip out of the special fund raised by
said annual levy of said special taxes
and said scrip shall be payable only
out of the fund to be raised by said
annual levy of said taxes, and in order
to raise a sufficient fund in order to
pay said scrip and the coupons attacG.
ed as they become due it is hereby
provided that said annual levy shall
| be a sufficient amount of levy upon
! the taxable property of said city as
shown by the last assessment for ter
ritorial and county taxes to raise the
| amount annually falling due. and to re-
cove delinquencies there shall be
lded to said sum annually thirty
per cent for delinquent taxes, and if
Che amount collected on such leyles is
not sufficient to pay the amount due
and coming due for any year the de-
! felt with interest shall be included in
and added TO the amount to be levied
to pay the amount of principal and in
terest on such scrip coming due the
next year. and it is hereby made the
duty of the mayor. city clerk, city
councilmen and city treasurer Of the
city of Guthrie to fully perform and
carry out the provisions of this ordi-
nance, and said assessment and collec-
tlon Of taxes Tor said special fund
shall be continued from year to year
until said scrip and coupons thereon
are fully paid.
Sec. A. That the city clerk Of the
city of Guthrie is hereby directed to
advertise in the official city paper for
the sale of said scrip to be sold to the
highest bidder for cash at not less
than par for the period Of FIVE days,
said bids to be opened by the council
at eight o'clock p. IN. on the evening
of June z, 1901, and the mayor and
city council reserve the right to re-
ject any and all bids.
Sec 5. The proceeds of said scrip
when sold shall be paid to the city
treasurer and the said treasurer shall
pay out the same in such installments
as may be hereafter ordered by the
mayor and councilmen, provided nc
money shall be paid out by the trees
urer unless upon sworn statements fol
work done or material furnished fol
the purpose of drilling and sinking
prospect wells for the purpose Of Oh
tanning and endeavoring to obtain ar
tesian or other waters to supply said
city with water, and said money shall
be used only for such purposes
Sec. g. Ordinance Number 479 ant
, all ordinances and parts Of ordinan
ces in conflict herewith are hereby
} repealed,
{ Sec. Z This ordinance shall be in
: force from and after its passage, ap
( proval and publication in the Guthrie
! Daily Leader Of said city OF Guthrie.
! Approved this lst day Of June, 1901
j. E. Ball,
: tSEAL.l Mayor.
. Attest. Alfred S. Dewitt City Clerk