Cañon City record., 1911-05-18
ORDINANCE NO. Z.
Series 1911

I -
in the state of Colorado, of its ne
gotiable coupon bonds in the aggre-
| gate amount Of sixty thousand dol
| lars, TO be denominated "Refunding
| Bonds, Tor the purpose of redeem
ing Ike amount of the outstanding
-Refunding Water Bonds. of said
city, dated March 16, 1896.
WHEREAS. The City of Canon City.
In the County of Fremont and State
OF Colorado. has heretofore issued its
negotiable coupon bonds, designated
City OF Canon City Refunding Water
Bonds. bearing date the sixteenth
day of March. 1896. absolutely due
and payable on the sixteenth day
OF March, A. ID. 1926, and redeemable
at the pleasure of said city at any
time after the sixteenth day of March,
A. D. 1911. and bearing interest at the
rate of six percentum per annum. pay
able semi-annually on the sixteenth
day OF September and the sixteenth
day OF March, in each year; and,
WHEREAS, The said City of Canon
City had not on said sixteenth day of
March, A. D. 1911, does not now have,
and will not have funds in the treas
ury Of said city available for the re-
demption OF such bonds; and.
WHEREAS. By a resolution duly
adopted on the twentieth day of Feb
ruary. A. D. 1911. the city council of
said city OF Canon City determined to
issue, In accordance with the laws of
the State of Colorado, new bonds to
be denominated "Refunding Bonds"
the same to be exchanged or sold as
directed by the city council of said
City of Canon City, and the proceeds
thereof applied only for the purpose
OF paying and redeeming the afore-
said outstanding bonds, the amount
OF bonds SO determined upon to be
issued as aforesaid being the sum of
sixty thousand dollars, a certificate
of such determination having been
heretofore duly made and entered in
and upon the records of said city; and,
WHEREAS, By Ordinance No. l,
Series OF 1911, entitled. AN ordinance
providing for the submission to vote
OF the duly qualified electors of the
City of Canon City AT the general cleo
ton of municipal officers to be held
in said city on Tuesday, the fourth
day of April. A. d. 1911. the question
OF refunding city Indebtedness adopt
ed and approved March 6. 1911. and
duly published and made a law OF
said city. the question OF issuing said
refuuding bonds aforesaid was. in
accordance with law. submitted to
vote OF the duly qualified electors of
said City OF Canon City at the general
election Of municipal officers held in
said city on Tuesday. the fourth day
OF April. A. d. 1911. and.
WHEREAS, Upon canvassinE the
vote cast at said election. IL appeared
that majority of all the votes cast
was for refunding said Indebtedness:
and.
WHEREAS. BY a resolution duly
adopted on the first day of May, A. ID.
1871. the city council of the City of
Canon City duly declared that said
election resulted in favor OF refund
ing said city Indebtedness; Now.
therefore,
BE 1T ORDAINED by the city coun-
ell OF the City of Canon City, Colo
RADIO:
Section j. That refunding bonds in
the name Of the City of Canon City be
ISSUED in the aggregate amount of
sixty thousand dollars. for the pur-
pose Of paying and redeeming the out
standing unpaid. payable. lawful and
valid rounding water bonds OF the
city OF Canon City In the like acgre-
gate amount of sixty thousand dollars.
issued and dated the sixteenth day OF
March. A. u. 1896.
s1NNAANA AaA AAlf All AAtl N
OF said City of Canon City be and
they are hereby authorized and di-
rected TO have prepared the nesotia-
Bile coupon bonds OF said city in the
said aggregate amount OF sixty thou
sand dollars
Section ;. That said refunding bonds
shall bear date the first day Of May.
A. D. 1911. shall be payable at the
option Of the city after ten years,
shall be absolutely due and payable
, twenty years from the date thereof,
and shall consist OF sixty bonds in
the denomination OF ore thousand dol
lars each. numbered consecutively
from one to sixty. both numbers in
elusive The interest upon said bonds
shall he payable semi-annally at the
rate Of five perceutum per annum on
the first day of November and the first
day of May in each year. at the Office
OF the city treasurer In Canon City,
Colorado. or at the banking house of
Kountze Brothers. in the City of New
York. az the option of the holder OF
the interest coupons eyidcncing said
interest Both principal and interest
shall be payable in gold coin of the
United States OF America OF the pres
ent standard OF weight and fneness.
| Said bonds shall be signed by the
mayor OF the city. attested by the
city clerk and countersigned by the
city treasurer. and shall bear the seal
OF the city; and tho coupons thereto
attached. representing tho semi-an-
nual interest thereon shall be signed
i by the city treasurer by his fac
simiie signature. and when SO signed
shall be taken as the valid obligation
of said city evidencing said interest
Section 4. That the said bonds and the
coupons there TO attached shall be in
substantially the following form:
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