The Red Cloud chief., 1901-04-26
An Ordinance.

Authorizing the issuing Of certain water re.
funding bonds Of the city Of Red Cloud Ne.
braska, 10 the amount Of S25 OlOnO for the rur-
pose OF rcfunding Mt lower rate OF interest Ger.
tain outstanding water bonds OF the said City OF
Red Cloud.
Whereas. Tho City OF Red Cloud has now on
standing certain bonds denominated water
bonds in the amount Of S25 0J0 10 legally issued
aud being the binding and subsistiDg 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 Ms fol-
lows: Twenty Ave thousand dollars six per cent
water bonds, dated June list, 1887 optional for
payment June lat, lss2; and, whereas said
bonds can be refunded at lower rate Of inter.
! est and thereby large saving effected to the
City of Red Cloud therefore,
BE IL ordained by the mayor and council oi
the City OF Red Cloud, Nebraska;
Section 1: That for the purpose OF refundine
| the water bonds mentioned In the preamble oi
this ORDINANCE st lower rate o. interest inter. shs
Cloud are hereby authorized and directed to
issue nifty water refunding bonds OF the City OF
Red Cloud. Nebraska, each OF the denomina
| tion Of Five hundred d1llars, dated the lSt day
Of June, 1891, and bearing interest evidenced by
coupons at the rate OF four and one half pei
cent per annum, payable annually on the First
| day of June in each year, and both principal
and interest on said bonds shall DO payable al
| the Fiscal Agency OF the state Of Nebraska In
| the City Of New York in the State OF New York
! Snid bonds shall be- enumerated from One tC
! lifty inclusive. and shall be signed by the
MAY, aud nttested by the City Clerk Of tile
! Guy ui Rod Cluud, NrbrHokn, aud the coupons
attached to sHid bonds may he executed by the
engraved signatures Of sutd Mayor and City
CLERK.
m, said bonds shall become dut und payable
On the tist dnv OF June. 1921, nul the said bonds
shall rcsrry" the right or option OF the CITY OF
/ Rcd Cloud, Ncbruska. TO pay the same at any
timc after ten years from and after the hrst day
/ OF Juno 10 l.
] igst lu ~ n follow
/ form:
No ....... The state Of Nebraska, s5l0
City Of Red Cloud.
| Water refundng bond 5000.
| Know all men by these presents, That the
| Guy of Red Cloud in Webster county, State o.
! Mbrasku. acknowledges itself indebted auC
bonded 10 the bearer hereofin the sum OF Five
Hundred dollars lawful money OF the Unitct
States, which said city promises to pay to tn,
holder hereo! on the first day OF June, 1921 IA
the state Fiscal Agency Of the State Of Nebras
ka in the CITY OF New York, in the State - New
| York, with interest thereon at the rate OF fou
and one.hah per cent per annum payablo an
nually at the same place, on the first day
June OF each year on the presentation aud sur
render as the same may become due, of the at
tached interest coupons.
For the prompt pa, ment of this bond, and tn
interest thereon. the fun faith. credit an
resources of the City of Red cloud are hereb
irrevocably pledged. The City of Red Clou
reserves the right or option to pay this bond 4
any time after ten years from the date hereof.
| his bond II one OF II series of like tenor y
sued for the purpose of refunding certain GU
standing legally issued. bonded Indebtedness {
the city OF Red cloud under the authority {
Chapter fourteen OF the Complied statutes {
Nebraska for the wear 1892 ana OF nh ordinGn'
duly passed by the city Council of said CITY
| Red Cloud.
Il Is hereby certified and rerited that nll act
! conditions nud things required to bc done pre-
edent To and in the suing ~ this bond hay
been dsne ana PERFORMED In regular and dt
, form Hs required by law. that the indchtrdne
refunded into this bond was and Is n hindii
and subsisting Obligation of the city OF Rt
G. oud. Nebraska. aud that the total indebte
ness of Snid CITY. including this bond. does y
exceed the statutory or constitutional limit
ton.
In testimony whereof the City Council OF Il
, City of Red Cloud Nebraska. has caused III
bond to be signed by the Mayor. atested by Il
CLERK. and the corporate seal to be hereun
aiixed this lst day sf June, 1871.
: ATTEST: