The newspaper., 1906-03-16
An Ordinance.

PioNC anu ltDtlI lllt eltCUElC
plant and system now in operation
in said town; and in the event of a
failure to purchase the same, to con-
struct an electric light plant and
system, for the generation and trans
mission of electricity for illuminat-
ing and power purposes to be for
ever owned, managed and operated
by said town, and to contract an in
debtedness in behalf of said town,
by the issuance of It's bonds in the
sum of four thousand seven hum
dred dollars (S4,7OO,) for such pur-
pose, and to submit the question of
such approval and authorization to
the voters OF said town, who are
taxpayers under the law.
Be it Ordained by the Board OF
trustees OF the town OF Paonia:
Section l. That said town of Pa
onia is hereby authorized to create
an Indebtedness in order to raise
money for the purchase, improve
ment and repair, or the construction
OF, an electric light plant or system,
ehhN supply Ah5 vi Seiit W" IL anu It's
inhabitants with electricity for H.
Eliminating or power purposes, by
the issuance of it's bonds in the sum
OF four thousand hundred dol
lars, (S4, ZOO redeemable in ten years
and absolutely due and payable in
fifteen years from date of issuance,
which said bonds shall be in such
form and bear such rate of interest
as may be determined by the Board
of trustees.
Section ,. The Board of Trustees
shall sell and dispose of so much of
said bonds as is necessary to raise
the sum OF 81, 700, which said sum the
said Board of trustees shall tender
to Jesse W. Beezley in exchange for
good and sufficient deed or deeds
OF conveyance from him, the said
Jesse W. Beezley, to said town, ofau
his electric light plant and system
and property free and clear from any
and all liens, membranes of every
kind and character, which said con-
veyance shall be accompanied by a
lClliCl anu ltltbSt Vi dlN
and all rights, claims and demands
that he may have against said town
and upon receipt of such deed of
conveyance and such surrender and
release, the Board of Trustees shall
pay to the said Jesse W. Beezley the
said sum of S4,7OO.
Section 3. In the event of the ac-
ceptance by the said Jesse W. Beez-
ley of such tender and offer, and
the purchase by the town of said
electric light plant and system, as
provided in the foregoing section,
the balance of said issue of bonds, or
SO much thereof as the Board of
Trustees may deem necessary, shall
be sold for the purpose of raising
money with which to improve and
repair, or add to said electric light
plant and system so purchased.
Section 1. In the event of the re-
fusal of the said Jesse w. Beezley to
accept such tender and offer, and
make such deed of conveyance, and
surrender and release, then the
WnOle OF SAID issue OF DOnQS, or SO
much thereof as the Board of Trus.
tees may deem necessary, shall be
sold and disposed of, for the pur-
pose of raising money with which to
construct an electric light, power
plant and system, to be owned,
managed and operated by said
town, the construction of the same
to be under the exclusive control OF
the Board of Trustees, and the said
Board Of Trustees is hereby author
lied to proceed with the construc-
ton OF such electric light, power
plant and system.
Section 5. This Ordinance and the
proposition herein contained shall be
submitted at the general election for
town officers to be held on the first
Tuesday of April, A. d. 1906, to the
voters OF the town who are tax
payers under the law, for their ap-
proval or disapproval, in the manner
provided by law. Those voting for
the approval thereof, shall have
written or printed on their ballots
the words, For Municipal Owner