The Red Cloud chief., 1901-05-03
An Ordinance.

Authorizing the issuing off, certain water 70.
funding bonds Of the city OF He'd Cloud. Ne
braska, to the amount OF S26 900 W for the pur-
pose OF refunding at lower rate o. interest Ger.
Whereas, The City Of Red Cloud has now ou..
standing certain bonds denominated water
bonds. In the amount Of s25 OO0 OO legally issued
and being the binding and subsisting obliga-
tions Of the said City Of Red Cloud In the
amount Of Sl5 900 90 all OF which bonds are sub.
ject to payment at the option Of the City OF Red
Cloud Nebraska, which said bonds are as fol-
lows Twenty Ave thousand dollars six per cent
water bonds, dated June LIST. 1887, optional for
payment June Ist, 1892; and, whereas said
bonds can be refunded ut lower rate of inter.
est and thereby n large saving effected to the
City of Red Cloud, therefore,
80 It ordained by the mayor and council OF
the City OF Red Cloud, Nebraska:
section l: That for the purpose OF refunding
the water bonds mentioned in the preamble OF
this ordinance at lower rate OF interest, the
Mayor and City Clerk OF the said City of Red
Cloud are hereby authorized and directed to
issue fifty water reiunding bonds OF the City of
Red Cloud. Nebraska, each OF the denomina-
ton Of Five hundred dollars, dated the lst day
OF June. 1901, aud bearing interest evidenced by
coupons at the rate OF four and one half per
cent per annum, payable annually on the First
and interest on said bonds shall be payable at
the Fiscal Agency OF the state OF Nebraska In
the City Of New York in the State Of New York
Said bonds shall be enumerated from One to
Mayor aud attested by the city Clerk Of the
City Of He'd Cloud, Nebraska, and the coupons
attached to said bonds may be executed by the
Clerk.
The said bonds shall become due and payable
on the irst day OF June, 1921. and the said bonds
Red Cloud. Nebraska. to pay the same at any
time after ten wears from and aftor the first day
Section q. The bonds herein authorized to be
aba ha N n a n ha ui,e
form
No ...... The State OF Nebraska, $500
City OF Red Cloud.
Water refunding bond 5000.
Know all men by these presents, That the
City OF Rcd Cloud In Webster county, State OF
Nebraska, acknowledges itself indebted and
bonded to the bearer hereofin the sum OF Five
Hundred dollars. lawful money Of the United
States. which said city promises to pay to the
holder hereof on the first day OF June, 1921 lat
the state Fiscal Agency OF the State Of Nebras.
ka In the City OF New York, in the State Of New
York. with interest thereon at the rate Of four
and one'half per cent per annum payable an.
nually at the same place, on the first day OF
June Of each year. on the presentation and sur.
render as the same may become due, OF the at
tached interest coupors.
For the prompt pa, ment OF this bond. and the
resources OF the City Of Red Cloud are hereby
! irrevocably pledged. The City Of Red Cloud
reserves the right or option to pay this bond al
any time after ten years from the date hereof
This bond Is one OF series OF like tenor is
| sued for the purpose of refunding certain out
standing legally issued, bonded Indebtedness OF
| the City OF Red Cloud, under the authority OF
Chapter fourteen OF the Compiled Statutes o
Nebraska for the year 1899, and OF an ordinance
duly passed by The City Council Of said City Of
Red Cloud
II Is hereby certified and recited that all acts
| conditions aud things required to be done prec
edent To and in the i'suing OF this bond hav,
| been done and performed In regular and du,
| form as required by law. that the Indebtedness
| refunded into this bond was and H. bndinI
and subsisting obligation OF the City of RED
| Cioud, Nebraska, and that the total indebted
ness of said city, including this bond, does no
| exceed the statutory or constitutional limita
| ton.
In testimony whereof the City Council of th
| City OF Red Cloud, Nebraska. has caused thi
| bond to be signed by the Mayor attested by tn,
| Clerk, and the corporate seal to be hereunt,
affixed this LIST day OF June, 1871.
| Attest: