The Washburn times. [volume] (Washburn, Wis.) 1896-1976, 1905-10-12

and discharge the principal thereof within
twenty years from the time of the issue OF said
bonds.
Section g. The bonds hereinafter referred
to shall be in form substantially as follows:
FORM OF BOND.
No. 100000
United States Of America, City Of Wash
burn, Bayfield, County, State OF Wisconsin.
FUNDING BOND.
KNOW ALL MEN BY THESE PRESENTS, That
the city Of Washburn, in the county of Bayfield,,
and State of Wisconsin. acknowledges itself
indebted and promises to pay to the bearer one
thousand (S1OOOOO dollars in gold coin of the
United States of America, at the present stand
ard Of weight and fneness, for value received,
twenty years from the date hereof at Illinois
Trust and Savings Bank in the city of Chicago,
Illinois, with interest thereon at the rate OF tive
cent per annum, payable semi annually. IN like
gold coin on the first days OF May and Novem-
Der in each year at the said Illinois Trust and
Saving Bank in the city of Chicago Illinois, upon
presentation and surrender of the annexed cou-
pons as they severally become due.
The city of Washburn may at it's option, at
the end of each year, pay two 81 OF this series
of bonds beginning with number one, and pay
ing them consecutively in the order of their
numbers, until all are paid
This bond is issued by the common council
of the said city of Washburn, for the purpose Of
paying the valid unpaid judgment Indebtedness
agrnst the city of Washburn, and under and by
virtue of, and in full compliance and conformity
with the provisions of chapter 81 of the laws
Wisconsin, for the year 1905, which said chap
&c cd s. An Of
of the statutes Of 1898, as subsequently amend
ed for the funding and refunding of city debt,
and which said act was approved June Z, 1905,
and published June Z, 1905 and under pursuant
to and in all respectsin full conformity with the
provisions of an ordinance adopted by vote in
favor of the same by more than three-f ourths of
all the members of said common council elect,
said vote having been taken at a regular meet
ing more than week after the proposed
ordinance had been published in the official pa
pers of the city which ordinance was 50 adopted
on the 10th day of October, A. ID 1905, ana IS
in all respects in conformity with the provisions
of Chapter I'll of the laws of wisconsin for the
year 1905, aforesaid, and provided for the
funding of said Judgment Indebtedness and it
is hereby certified that all the requirements of
law have been fully complied with by the proper
officers in the issuing of this bond.
It is further certified that this issue of
bonds has been duly authorized bya vote of more
than three-fourths of all the members Of the said
common council elect, at a regular meeting
more than one week after the said ordinance
had been published in the official papers of said
city and on the 10th day of October, A.
d. 1905 and the total indebtness Of the
city of washburn including these bonds, does
not exceed the limit prescribed by the constitu-
ton of the State of wisconsin, and that all the
provisions required by the constitution and
laws of wisconsin have been duly complied
with.
The bonds of this issue are comprised in
one series, designated from one to forty inclu-
sive, each bond of the denomination Of one
thousand dollars ($lOO0.00), and the total issue
of forty thousand dollars, and this bond is one
of said series, issued for the payment of said
valid, existing, unpaid judgments against said
city Of Washburn.
The faith and credit of said city of Wash
burn, in Bayfield, county, in the state of Wiscon-
sin, hereby pledged for the punctual pay
mentof the principal and interest Of this bond.
In TESTIMONY WHEREOF. the city of Wash
bnrn, in the county Of Bayfield,, in the state of