La Junta tribune., 1908-11-14

ptotutTs III tue city OF view IoTh-
being six months interest on Swink
gold coin of the United States of
c. A. REYNOLDS,
Town Treasurer.
Section 3 That said bonds shall
be sold as. soon after their issue
ss practicable and delivered by the
, town treasurer TO the purchaser
thereof, and the proceeds thereof
shall be- used for the purpose OF erect
ing and constructing system OF
ga,erworks to supply said town with
water for fire and domestic and
other purposes.
Section 6. Whenever the said
Town OF Swink shall elect TO pay any
of said bonds after December LIST,
1918. aud before the same are a So
lutely due according to the terms
thereof. the clerk and recorder of
. said town snail cause 10 be published
for at least four successive weeks
In weekly newspaper published III
the Town OF Swink, and also in the
Commercial and Financial Chronicle
OF the City of New York. a notice
specifying the number or numbers of
the bonds proposed to be called in
and paid and the date OF such pro-
posed payment. and the interest on
such bonds $50 called shall cease six
ty days after the first pub ication of
such notice: and the tonds so called
In upon their surrender shall be paid
by said town. and when paid. togeth.
er with the unmatured coupons, shall
be destroyed
Section 4 After said town shall
have completed the construction of
such waterworks. the same shall be
operated and managed by said town.
and all water taxes, rents,and rates
for water furnished and used there
from shall be directly collected by
said town in such manner as snail
be provided by ordinance. and the
proceeds of said taxes. rates and
rents, together with all income there
from, including the plumbing and tap
ping OF mains and laying and connect
ing supply pipes thereto. shall lie us
ed first to dcfray the running ex-
penses of such waterworks ana 10
keep the same In repair: second
for extending the mains thereof
and making improvements and addi-
tions to said system of waterworks
whenever, in the opinion OF the
Board of Trustees OF said town,
such extension, improvements and ad'
ditious shall be necessary. and eN-
pedient, and shall nave been ordered
by "A majority vote of al the mem
bers of the said Board OF Trustees.
aid the balance of said income from
said waterworks for paying the run
ming expenses, repairs. extensions,
improvements and additions shall con-
stitute fund to pay the principal
and interest of said bonds.
Section s. The Board of Trustees
of the Town OF Swink shall annually
levy or cause to be levied. and de-
vote to the payment OF the Interest
on this bonded debt, tax upon all
taxable property within the corporate
limits of the town of Swink. suffici-
ent TO pay the semi-annual interest
on all OF said bonds outstanding. or
SO much as shall be necessary. IL
any, after the income from said wa
terworks shall have been used as
provided herein for that purpose. and
after nine years from the first day
Of December 1908. there shall be annu-
ally levied upon all taxa~le proper
ty within the corporate limits OF
said town of Swink, such tax as
shall create yearly fund equal to
twenty per cent OF the whole amount
of such bonds issued. II any shall
be necessary after using said fund
from the income accumulated from
said waterworks, which fund shall be
called the redemption fund; and all
taxes for interest ON said 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 OH such bonds
and for the redemption OF such bonds
only, and such taxes shall be levied
and collected as other taxes.
Section g. II shall be the duty OF
the town trustees OF said town an
pual v at the time and in the manner
provided by law for levying other
town taxes. II such action shall be
necessary to effectuate the provisions
OF this ordinance, to ratify and carry
out the provisions hereof with ref
erence to the levying and collection
of taxes, and to require the officers
of and for said town to levy. extend
and collect such taxes in the manner
provided by law for the purpose
OF creating fund for the payment
OF the interest and the principal OF
said bonds as the same shall ac-
crue and mature, and said taxes
when collected shall be kept for
and applied only to the payment OF
the interest and principal of said
bonds as hereintef specified.
Section 10. After the construction
OF said waterworks, the tapping of
mains thereof for the purpose OF
attaching supply pipes thereto. ana
the laying Of such supply pipes, dig
ging OF trenches therefor from tne
main 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 here
/ ipbefore provided; and no contract
shall be made with.or permission CIV