The newspaper., 1906-06-22
Ordinance No. ~.

nose Of f. 'purChnsing, improving and repairing
the Electric Light Plant and system now III
operation in said town, and III the event oi u
fniIure to purchase the same, to construct an
Electric Light Plant and system Tor the geherr
alton and Transmission oi for s,id town,
and be forever owned, managed ana operateu
by said town. =. ,,
WHEREAS Il majority of the voters OF said
town of Paonia. who were taxpayers under the
law, voting OH the question: at All elsctioii uuiS
called for the purpose of taking said sote, ana a.
duly held in said Town on Tuesday, the ID day
of April. A. D. 1906, by vote approved the erec.
tion and construction yre by the isht and Power
Plant for said town, or the purchase, improve,
ment and repair of the Electric Light Plant ana
the event of a failure to purchase the same, to
construct an Electric Light Plant and system
'ity for Illuminating and power purposes, to be
forever owned, managed and operated by said
town, the funds for which were 10 De hnSd oS
said town, to the amount of four thousand
seven hundred dollars, (s4.7oo) and,
trustees of said town to issue said bonds as in
ctructed by said vote in order to obtain funds
i'f RF III If po9RF poRDAISEp By THE BoARO OF TRUs-
TEES OF THE TOWN OF PA0NlA, CoLoKADo:
Section 1. That the town OF Paonia; ooloraoo; @ o;
four thousand seven hundred dollars, tSi,.9o,)
for the purpose OF the purchase or construction
of an Electric Light Plant and system for sara
town, and DO thereby contract an Indebtedness
i'll said amount for sai purposes ,;.. =.
2, That said bonds snail CONSIST u
nine bonds of five hundred dollars $500 each,
designated "series A., and numbered from one
to nine inclusive, and two bonds OF one nun,
dred dollars (slOO) each, designated series b,
and numbered ten and eleven, they shali oe
dated July l. 1906, and be absolutely due ana
payable fifteen years after the date thereof
and be redeemable at the option of said town
ten years after the date thereof at the once
of the town treasurer in said town. e, ines ,'ay
shall bear interest ut the rate OF six t6) per
cent per annum, payable semi annually, on lhe
first days of July and January in each year nntll
: 4, tfNttrV fran
said or at the banking house of kountze Broth
ers in the city and state of New York at the op-
tached and both principal and interest shall be
paid in gold coin of the United states oil Amer
lea of the present standard OF weight and hne-
ness
Section 8. That said bonds shall be sealed
with the corporate seal of said town. signed by
the mayor, and attested by the clerk and re
corded and countersigned by the treasurer OF
said town. Each of said bonds shall have at-
tached thereto thirty coupons numbered from
one to thirty inclusive, each representing a
semi-annual installment of interest upon the
bond to which it is attached and securing the
payment of interest 1t accrues, which said
coupons shall bear the signature OF the treas
urer of said town and the number of the bond to
which they are attached. Said coupons, when
so made, executed and delivered as part of said
bonds shall be the legal Obligations oil saiu
town, securing the payment OF said lhterest III
the hands of all persons to whom they may law
Section l. That the form of said bonds and
coupons shall be substan TALLY follows, to VIII
UNITED STATES OF AMERICA.
',,''.' TOWN OF PAoNIA, o.,s
GOLD ELECTRIC LIGHT BONDS.
Series ....-...
THE TOWN OF PAoN!A, in the County Of
acknowledges itself to owe and hereby promises
to pay to the bearer hereof,....... - .-....
dollars in gold coin of the United States of
America of the present standard of weight and
fineness on the first day of July, A. D. 1921, at
the office of the town treasurer In said town of
(6) per cent per annum, PAYABLE semi annually,
in like gold coin, on tn first days of July and
January; at the 20 office Of the % town treasurer r
Brothers in the city and state of New York, U. S.
A, at the option of the holder, upon presenta
ton and surrender of the annexed coupons as
they severally become due.
The said town, however, reserves the right to
pay this bond at any time after the first day of
July, A. D. 1916.
This bond is issued by the said town OF Pao-
mia for the purpose OF the purchase OF or the
construction OF Electric Light Plant and
System, In persuance of an Ordinance OF said
town duly adopted. published and made law
of said town prior to the issuance hereof and
under, by virtue of and in full conformity with
the Constitution of the state of Colorado and
thereof. entitled ''An Act in Relation to NUM-
cipal Corporations, approved April 4, A. ID. 1877,
and all amendments thereof.
And it is hereby certified that the purchase or
construction of said Electric Light Plant and
System and the issuance hereof were duly ap.
proved by the vote of a majority of the voters of
q.
voting on the question at an election duly called
and held in said town according to law prior to
the issuance of this bond: that all conditions re
quired to exist and things required to be done
precedent TO ana in the issuance of this bond to
render the same lawful and valid did exist and
have been properly done and performed In reg
ular and due time, form and manner re-
qulre by law: that the total debt of said town,
including that of this bond does not exceed any
limit of Indebtedness prescribed by the consti-
tuition or laws of the state of Colorado, and that
said Ordinance provides for the levying OF tax
sufficient to pay the annual interest on this
bond and to extinguish the principal thereof
within the time limited for the same to run, and
contains such other provisions as are requiI ed
by law.
PaoEia, has caused this bond to be sealed with
its corporate seal. signed by its mayor, attested
by its clerk and recorder, ana counter signed by
Its treasurer, this. day of A. d..
1906
OBSERVATION-DISCLOSURES. --.....,.- .,....---+....-
Mayor.
Town Clerk and Recorder.
CoUNTERsIGNED:
Town Treasurer.
FORM OF COUPON.
on the first day of .l..... o.. .. ....... $50.
A. D lg .. for value received, the town of Pa
onia, in the county OF Delta, and state of Colo
RADIO. will pay the bearer .... .. ..-.........
dollars in gold coin of the United States of
America, at the office of the town treasurer in
said town Of Paonia at the Banking house of
Kountze Brothers in the city and state of New
York. U. ). A., Mt the option of the holder. be
ing six months interest on its Electric Light
Bond No. .-.. .....
Town Treasurer. .... .............. ......
Section That said bonds he sold aorordi n @