Indian chieftain. [volume] (Vinita, Indian Territory [Okla.]) 1882-1902, 1902-07-31
RESOLUTION.

kfsoOLOllON.
Whereas, Il Is necessary that the In
eorporated town Of Vinita should ar
range for buildings for school purposes;
and,
Whereas, under the authority Of the
Act Of Congress approved May 10, 1902
incorporated towns having population
oi two thousand or more are authorized
TO issue bonds and borrow money there
on to be used for such purposes: and,
Whereas. a eensrs Of the Incorporated
Town Of Vinita has been taken by W. G.
chaniberlin, a suitable person duly ap
pointed fer that purpose on the 18th day
Of June 1902 by the Honorable Joseph A.
Gill, Judge Of the United States court in
and for the northern district Of the In.
dian territory, whose sworn return to
said judge shows the number Of inhabi-
tants Of the. incorporated Town Of vinita
to be two thousand, seven hundred and
ten; aud,
Whereas, the total valuation Of the
taxable property in the incorporated
town Of Vinita as shown by the assess
ment for the year 1902 for the purpose Of
taxation Is one million eighty thousand
dollars; and,
Whereas, Twelve Thousand Dollars
will be ample and sufficient for the build
ing Of school houses in the incorporated
town Of Vinitn; aud,
Whereas, the interest on Twelve Thou.
sand Dollars at five per eentuni per an
mum could and would be more than H.
quidated by a tax Of FIVE mills upon the
dollar Of the valuation of taxable proper.
ty in the incorporated town Of Vinita as
aforesaid; and,
Whereas, the said incorporated tow4
Of Vinita is free from any debt obliga-
tion or liability Of any kind whatsoever
BE IT RESOLVED, by the
Council of the Incorporated town Of vi
nita that for the purpose Of building
school houses within and for the incor.
porated town of Vinita, the sum oI
Twelve Thousand Dollars should be ex
pended and in order TO procure said sun
Il is necessary that the incorporated
town of Viuita issue bonds for that pur
pose; therefore.
Be II Further Resolved, by the council
of the incorporated town Of Ninita, tha
under and in accordance with the Act o
Congress above referred to, the following
proposition be submitted to the lega
voters Of the Incorporated town OF Vini
Ia to be by them voted upon, on IN
twenty-ffth day Of August 1902, to wit
"Shall bonds of the Incorporated tow
Of Viuita be issued to be used for III
purpose OF building school houses with
in, and for the use of the inhabitants ol
: the incorporated town of Vinita; sal
, bonds to befissued In the principal sur
of twelve thousand dollars in denomins
|. tions to suit purchaser and to be nun
l bered from one upward, and to be know
as the Public School Building Bonds {
! the Incorporated town Of Vinita.
d The principal sum of said bonds to I
!, paid in twenty years from the date ,
issue, in lawfal money OF II
Q United States and from the date OF the
q issuance to bear interest ia like lawfl
q money Of the United States, said intere
payable semi annually at the rate OF
per centum per annum according TO Il
bid which shall be accepted by n
council Of the incorporated town Of v
u nita not TO exceed 1--WE per centum p
1. anuum, and the advertisement for BIZ
for said bonds shall state that bidde
are requested TO make proposals for fou
~ four and one-half and i've per cent bond
a preference being given TO the offer bea
ing the lowest rate Of interest again
the premium offered for bonds having
higher rate Of interest; said bonds to
signed by the Mayor aud countersign
by the Treasurer Of this municipality,
heir tfiicial capacity, and under seal
the town: to have coupons attached the
TO for interest accruing upon each bo
and each coupon shall be signed by I
- Mayor and cOuntersigued by the IRE
ar urer In their official capacity and attach
"A to each bond SO as to readily permit
- removal Of said coupons without mutil
oi ing the bond.
q. said bonds shall be sold by 1
council Of the Incorporated town Of
'n nita by an advertisement for sealed b
III. at such time and In such manner as
said council may deem to be TO the b
interest Of said tcwn with the right
reject any and all bids, provided howev
that the said council shall not
We or dispose of said bonds or any Of IA
ha at less than their par value.
That before the indebtness conle
plated by this resolution is incurred p
" vision will be made by the cour
Of the incorporated town Of Ninita
ordinance, which shall be irrepealal
n for an annual tax sufficient 10 pay
"a. interest on said bonds as the same Il
:" due, aud also provide for the paym
*, and discharge Of the principal ther
within twenty years from the date
contracting the same.
That the twenty-ffth day Of Aug
)il 1909 be and the same Is designated
~ set apart as a day upon which the qt
~ ton Of issuance Of the bonds as herr
Ak fore specified shall be voted upon BY
as, qualified V0lera Of the said incorpofa