The Logan Republican. [volume] (Logan, Utah) 1902-1924, 1904-06-11
An Ordinance.

Al NJ S>AAAOAASS>
Providing for the issue of bonds of the
City of Logan to the amount of $l2,-
900 for the purpose of providing funds
for the completion of the Municipal
Electric Lighting works of said city:
BE it ordained by the City Council
of Logan City, Utah:
Section l. That for the purpose of
providing funds wherewith to complete
the Municipal Electric Lighting works
of said city, there shall be borrowed
on the credit of said city the sum of
$4,000, and to evidence such loan
there is hereby ordered issued the ne
gotiable interest bearing bonds of said
city to said amount. Said bonds shall
be designated as Electric Light Com
pletion Bonds" shall be twelve Q2)
in number, numbered from to IL in
elusive, and of the denomination Of
one thousand dollars (sl,OOO) each,
shall bear date of June 1st, 1904; shall
become due and payable on June lst,
1924 or at any time before said date
after the expiration of ten (lO) years
from their date at the option of said
city; shall bear interest from their
date until paid at the rate of five (5)
per centum per annum, payable semi
annually on the lst days of December
and June in each wear, which interest
payments to the date OF the maturity
of the principal shall be evidenced by
proper coupons attached to each bond
and both principal and interest shall
be payable in gold coin Of the United
States of America of the present stan
dard of weight and tineness, at the
banking house of Rudolph Kley bolte &
Co. in New York City, N. Y.
Section 2. That each of said bonds
shall be signed bv the Mavor and at
tested by the city recorder of the city
of Logan City, and impressed with
the corporate seal of said city, and
each of the interested coupons shall
be executed by the engraved or litho.
graphed FAC SMILE signatures of said
Mayor and City Recorder, and such of.
ticers are hereby authorized and di'
rected to SO execute the said bonds
and coupons for and in behalf of sale
city.
Section }. That each of said bond.
and each of the interest coupons there
to attached shall be i'm substantially
the following forms respectively, to
wit
UNITED STATES OF AMERICA
STATE OF UTAH County of each,
CITY OF LOGAN CITY
Electric Light Completion Bond
No....... $1,000
Know all men by these presents
That the City of Logan City, mum
cipal corporation, in the County o
Cache and State Of Utah, acknowl
edges itself to owe, and, for value re
ceived, hereby promises to pay T.
bearer the sum Of One thousand Dol
lars on the first day of June A. II
1924, or at any time before said dat
after the expiration of ten (lO) year
from the date hereof, at the option 0
said city, together with interest OF
said sum from the date hereof unit
paid, at the rate Of five per centun
per annum, payable semi-annually OF
. the first DAYS of December and Inn
in each year, in accordance with an,
upon presentation and surrender o
the interest coupons hereto attaches
as they seyerally become due, bot
principal and interest payable in gol,
coin OF the United States OF Americ
of the present standard Of weight AM
tineness, at the banking house o
Rudolph Kleybolte & Co. in New
York City, New York. And for TIN
prompt payment of this bond, will
interest as aforesaid, at maturity, tn
full faith and credit of said city ar
hereby irreyocably pledged
I This bond is issued 10 evidence al
debtednesS incurred by said city 70
the purpose OF providing a portion
of the funds required TO erect works
TO be owned and controlled by sal,
city, for supplying said city will
artificial lights, in accordanc
with more than a majority yot