Idaho Springs siftings., 1903-02-07
Proposed Ordinance Pub
lished to Comply With
the State Law.
AN ORDINANCE

Providing for the contraction of an in
debtedness upon the credit of the city of
Idaho Springs, Colorado, by the issuance
of the negotiable coupon bonds of said
city for the purpose of erecting city hall
within the corporate limits of said city
for municipal purposes.
BE it ordained by the city council of the
city of Iaaho Springs, Colorado.
Section 1. That, for the purpose of
erecting and constructing within the cor
porate limits of the city of Idaho Springs
for municipal purposes a city hall, an in
debtedness of said city of Idaho Springs
upon the credit of said city is hereby
authorized to be contracted, not exceed
ing the sum of fifteen thousand dollars
ISIS ,ooo) by the issuance of negotiable
coupon bonds of said city as hereinafter
provided.
Section ?. Said bonds shall consist of
thirty bonds of the denomination of five
hundred dollars (S5Oo) each, to be num-
bered from No. I to No. 80, both num-
bers inclusive; shall be redeemable at the
option of said city ten years after the
date thereof, and shall be and become abb
solutely due and payable fifteen years
after the date thereof. he said bonds
may be made payable to the purchaser or
bearer thereof; shall bear date the 2nd
day of April A. d. 1908; shall bear inter
est at the rate of five per cent. per annum,
said interest to be payable semi-annually
on the 2nd day of October and the end
day of April of each year, at the office of
the Treasurer of said city of Idaho
Springs, or at the Western National Bank
of New York ity, or at the Merchants
and Miners National Bank of Idaho
Springs, in the city of Idaho Springs, in
C1ao,- Craatr ot,1 afA
U. S. A, at the option of the holder or
holders thereof. Such seni-annual inter
est shall be evidenced by interest coupons
annexed to each of said bonds, each of
which coupons shall evidence one such
payment to be made of semi annual inter-
est on one of such bonds and any such
interest upon any such bond shall be
paid at the place aforesaid upon the sur
render of any such coupons when they
shall become due. Said coupons shall be
numbered from No. to No. 80, inclusive,
and bear the date and number of the
bond to which they are attached.
Section 3. That said bonds and each
of them shall be signed by the Mayor,
attested by the City Clerk and Recorder
and countersigned by the Treasurer of
the said city of Idaho Springs in their Of
fetal capacity and have attached thereto
the corporate seal OF the said city. Each
and every one of said coupons shall be
signed by the Treasurer of said city in
his official capacity by original or litho-
graph signature, and the said coupons,
respective, shall, when so signed and law
fully issued and delivered as a part of
said bonds, be considered and the same
are hereby declared to be the proper or
iginal promise of said city securing the
payment of said interest in the hands of
all persons to whom they may come.
Section a. Said bonds shall be issued
only for the purpose of the erection and
construction of said city hall as herein
provided, but the purchaser or purchasers
of said bonds shall in no manner be res
ponsible for the application by the said
city or any of its officers of the said bonds
to the purpose other than that for which
they are issued.