Idaho Springs siftings., 1904-07-09
PROPOSED ORDINANCE.
Published to comply with the State law.
AN ORDINANCE

Providing for the contraction OF an in3eeetedness
upon the ered, of thu city Of Idaho Springs Colorado
BY the ISSUANCE OF negotiable coupon bonds of said
CITY Tor the purpose Of supplying said city with water
foI irrigation and other municipal purposes. by the
CONSTRUCTION OF Ia suitable system therefor:
Be- II ordained by city council OF the city of Idaho
Springs, Colotado;
Section l. That. for the purpose OF supplying the
saa sly OF Idaho Springs with water. through grav-
ity pressure. foT irrig alton ani oher municipal pur-
poses through the Construction of contus, canals
ani a9uetlets to. in and through said city
as may be necessary to supply said city
with water. through gravity pressure. iniebt-
ness 81 saii ciiy OF Idaho Springs the credit of
SAID cis Is hereby authorized to be contracted. not
exeeeaiag the principal sum of Seventy hve Thou
sani Dnllars. by the Issuance of negotiable coupon
eonis OF saii eity of Idaho Springs as hereinafter
provided
Se,'6on ? Sad bonds shall consist of one hum
dred sui nifty bonds of the denomination OF Five
huniIet Dollars each, 10 be numbered from No. to
no. ip, roth numbers Inclusive; shall be re3eemahie
at the option of SAID city ten years after the daie
thereof and shall be and become absolutely due and
payseie fifteen years after the date thereof. The
sad bonds shall be made payable 10 the bearer
thereof shall bear date of the ist day of
SePiemeer. A, D. 1904: shall bear in,eres, at
the rate of hve per cenium per annum. said
Interest to be payable semi annually on the 1st
day OF March and the ist day OF September OF
each year at the Office of the treasurer OF said city Of
Idaho Springs. or at the barking house of knniI
Brothers in the city Of New York. at the option of
the holier or holders thereof. Such semi snnuai in
tefesi shall be evidenced by interest coupons an
nesed 10 each uf sai bonds. each of which coupons
shall eVi ience such payment 10 he maie of semi
annual interest on one OF such tonis. and any such
nteTes any such bond shall be paid at the place
aforesaid upon The surrender of any such coupons
When they shall become due. SAID coupons shall be
Numbered from No to No. ~. Inclusive. aud bear
the daie aud number of The bond to which they are
ATTACHED
Seeion J. Sad bonds and each of them, shall be
signei hy the mayor. auesei BY the cry clerk. AMI
counters red BY the city OF SAID city Of
lisho Springs, IN their ofheai capacity. and have
| thereto attached the corporate seal OF said CITY
Each aHd every Of said coupons shall be signed by
The city treasurer Of SAID city. In his oiteia eapaey
By otginsl OF li'hogtaph signature, and the SAID
fuils Issued and delivered part of sai bonis. be
considered ani the same are hereby declared TO be
the pfoper odgina promise Of saii eiiv securing The
payment Of sal1 interest in the hands Of all persons
Seet1ns 4 The said bonds shall be sold on such
5nt conditions the SAID city COUNCIL may by
resolution direct. but not fof less Than par net 10
sail city and shall be issued only for the purpose OF
the construction OF suitable system for supplying
the ssli city " laaho Springs with water herein
proyiiei. bet the purchaser OF purchasers OF said
bonds shall In no manner be responsible Tor the ap.
rleauon b. sai city OF any OF rs oneer> OF the sai
bonds the proceeds thereof To purpose other
than that for which they are issued
section 5. II shall be the duty of the City
Council. si the same time and in the same man
ner nov fixed by law for levying other taxes TO
annually levy and collect a special TAX upon the
taxable property situate within the limits OF said
city uihcient to pay the annual interest OH said
bonds semi annually as 1t shall become due. and.
In the A. d 1909 and annually thereafter, 10
levy and collect = special tax upon the taxable
property situate within the limits of said city
sufficient In the aggregate to extineush the prin-
cipsl of said bonds sat the maturity thereof. which
taxes providing for the . incipsl and interest OF
said bonds shall be levied and collected by the
same officers and 10 the same msnner that other
city taxes are levied and collected, and " hen
collected the moneys raised thereby shall be
specially kept for and applied only Ia the pay.
ment Of the principal ana accrning interest OF
said bonds until the indehetednes- ~ said bonds,
both principal and interest. shall be fully paid,
satisfied aud discharged.
section @. 1t shall be the duty nf the city
Council Of said city annually. at Ihe time and iti
he manner provde.i for isvying other city tax
To rattfy and carry out the provisions tn .reof IN
reference to the lsyying OF taxes, and u require
the officers of said city TO levy, extend and collect
such taxes for the purp,se Of raisn funds for the
payment Of said bonds AT maturity. and the
Interest thereon 1t falls due, A. herein provide
such tsx xes when collected. shall Toe kept for and
applied only TO the psyment Of the principal and
Interest Of said bonds herein specified. All
bonds redeemed and coupons paid shall be can.
ceiled or destroyed as the said city Council af
oaid city Of idaho spr ngs shall direct. This
ordinance shall he irfepealabe until the indsbet-
xdness Aforesaid provided for herein shall have
bsen fully paid. satisfied and discharged as here
ssss,on !. This ordinance shall tase effect and
be In force amor its passage and approval and
ahes the expiration OF hse days after the last
publication thereof, n required by Law.
Passed by the City Council OF the city OF Idaho
Springs and approved this - day of -
d. 1914