The Delta independent., 1911-05-19

WHEREAS. the city of Delta. in the county of
Delta and state of Colorado. has now outstanding
legal floating Indebtedness and legal warrants in
the aggregate amount of thirty thousand dollars;
and
WHEREAS. the said city Of Delta has not
funds in the treasury of said city available for
the redemption and payment of said indebted
ness and said warrants: and
WHEREAS, by n resolution duly adopted and
approved the twenty-eighth day of February.
y y. 1911. the CITY council of said city of Delta
declared that, subject to the approving vote Of
the duly qualified electors Of said city at the
general election to be held therein on Tuesday
the fourth day of april. A. ID. 1911. the bonds Of
said city. to be denominafed Funding Bonds
sold directed by the city council of -aid city of
Delta and The proceeds thereof to be applied
only 70, the purpose OF paying and redeeming
ard said outstanding legal warrants all in ar
cordarce with an act of the General Assembly Of
floating indebtedness and outstanding warrants
of cities ard towns ETC.: and
WHERE ,S, by said resolution adopted and
approved the twenty-eighth day OF February.
4. p. 1911: the said city conncil Of the city ~
Delta did determine that the amount Of such
funding bonds to be is-ued aforesaid should
be thirty thousand dollars and
WHEREAS. a certificate of such finding and
determination has heretofore been made and
entered upon the records of said city council;
and.
WHEREAS. by Ordinance No II. Series oi
1910. entitled. IAN Ordinance providing for the
-uhmission I" vote Of the duly qualified tax
paying electors Of the city Of Delta at the gen
eral election of municipal officers TO be held in
said city on. Tuesday. the fourth day Of ,pril
\ d. GIL. the question of funding legal floating
Indebtedness and outatandng legal wnrrants of
said city adopted and approved March u. 1911.
and duly published and made "A law of said city.
the question OF funfing legal floating indebted
ness and outstanding legal warrants Of said city
was, in accordance with law. submitted to n
woe of the duly qualified electors Of said city of
Delta at the general election of municipal
officers held In said city on Tuesday. the fourth
day Of April A. d. 1911; and,
WHEREAS. upon canva.sinR the vote cast at
said election, IT appeared that majority of all
the votes cast were in favor of finn ing; and,
WHEREAS. by resolution duly adopted and
approved the md day Of May. A. d. 1911, the cit,
council of the city Of Delta duly declared that
said election resulted in favor Of funding the
floating indebtedness and outstanding legal
warrants of the said city Of Delta Now there
fore,
RE 1T ORDAINED by the city council Of the
city of Delta, Colorado:
SECTION /. That negotiable, interest bearing
coupon bonds in the name Of the city Of Delta
be is-ned in amount equal to the floating in
ebtednese and outstanding warrants ms hereto
ere determined by the city council. to-wit, in
the aggregate amount of thirty thousand dollars.
for the purpose of funding the floating indebted
ness and outstanding legal warrants Of the city
of Delta.
SECTION g. That the mayor and clerk Of said
city of Delta be and they hereby authorized
and directed to have prepared the negotiable,
interest bearing coupon bonds of said city in
the said aggregate amount oil thirty thousand
dollars.
SECTION g. That said funding bonds shall
bear date the first day OF May, a. ID. 1911; shall
be payable at the option OF the city after ten
years; and shall be absolutely due and payable
hfteen years from the date thereof and shall
consist Of sixty bonds in the demon nation of
five hundred dollars each, numbered consecu-
lively from one to sixty both numbers inclusive.
The interest upon said bonds shall be payable
semi. annually at the rate of I'VE and one-half
per cent 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 Delta. Colorado or
at the banking house OF Kountze brothers. in
the city. of New York, u. S. A.. Mt the option Of
the holder Of the interest coupons. evidencing
said interest. Said bonds shall be signed by tho
mayor Of tine city. attested by the city clerk and
countersigned by the city treasurer. md shall
bear the seal Of the city; and the coupons there
to attached, representing the semi-ennual inter
est thereon, shall he signed by tn. city treasurer
by his engraved facsimile signature. and when
40 signed shall be taken to be the valid obliRn-
tions Of said city evidencing said interest.
SECTION 4. That the said bonds and the
coupons thereto attached shall be in substan-
TALLY the following form: