The Holly chieftain., 1908-07-24
Ordinance No. S--Continued

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tured corrors. shall be destroyed.
when pa :, o'~rther with the unma-
Sec. :. A-4sus said town shall have
completed To- construction OF sneh
waterworh5, s.e same shall be operat-
ed and managed oy said town, and
all water taxes, rents, and rates Tor
water furnished and used thereirom
shall be directly collected by SAID
town in such manner as shall be pro-
vided by ordinance, and the proceeds
OF said taxes, rates and rents, TO
pether with all income thereirom, IN
Guiding the plumbing and tapping OF
mains and laying and connecting sup
DIV pipes thereto, shall be used frst
10 defray the running expenses oil
such waterworks and to keep the
same in repair; second, for extending
the mains thereof and making I'M
provements and additions to said sys-
TEN OF waterworks whenever, in the
opinion of the Board OF Trustees OF
said town, such extension, improve
ments and additions shall be neces-
sary and expedient, and shall have
been ordered by a majority vote "i
all the members OF the said Board
of Trustees. and the balance OF said
income from said waterworks Tor
paying the running expenses, repairs,
extensions, improvements and add'-
tons shall constitute innd to pay
the principal and interest OF said
bonds.
Sec. 8. The Board of Trustees OF
the Town of Holly shall annually levy
or cause to be levied, and devote TO
the payment of the interest on this
bonded debt a tax upon all taxable
property within the corporate limits
Of the town of Holly, sufficient to pay
the semi-annual interest on all OF said
bonds outstanding, or so much as
shall be necessary, if any, after the
income from said waterworks shall
have been used as provided herein
for that purpose, and after nine years
from the first day OF July, 1908. there
shall be annually levied upon all tax
able property within the corporate
limits of said town of Holly, such
tax as shall create yearly fund
equal to twenty per cent OF the whole
amount of such bonds issued, if any
shall be necessary after using said
fund from the income accumulate
from said waterworks. which fund
shall be called the redemption fund;
and all taxes for interest on sad
bonds, and for the redemption OF said
bonds, shall be. paid in cash only and
shall be kept by the town treasurer
as a special fund and shall be used
in payment of interest on such bonds
and for the redemption of such bonds
only, and such taxes shall be levied
and collected as other taxes.
Sec. g. After the construction OF
said waterworks, the tapping OF
mains thereof for the purpose OF at
taching supply pipes thereto and the
laying of such supply pipes. digging
to the sidewalk and placing stops
therein whenever the same shall be
required shall be done only by the
employees OF the town engaged for
that purpose; and the proceeds there
of shall be treated as income from
said waterworks and devoted to the
interest and redemption funds as
hereinbefore provided; and no cor
tract shall be made with, or permis.
sion given to any person or company.
or CORPORATION, to tap said mains or
lay said supply pipes or to run or
operate said waterworks otherwise
than as herein provided.
Sec. 10. This ordinance shall be
and remain irrepealable until said
bonds and the interest thereon shall
have been fully paid as herein pro
vided.
Sec. II. This ordinance Immediate
ly upon its passage, shall be recorded
in the book of Ordinances of sal:
town kept for that purpose, authen-
ticated by the signatures of the Nav
or and Clerk, and shall be published
in The Holly Chieftain, and shall be
in full force and effect five days after
said publication.
Adopted and approved this 2oth
day of July A. D. 1908.
JOSEPH S. McMURTRY,
Mayor.
Attest: ROBERT /. ARNESON,