The Julesburg grit-advocate., 1911-02-23
Town Treasurer.

AV"u AA12oNA0I.
Section 3. That;said beads shalI be sold
as soon after their issue as practicable.
and delivered by the town treasurer to
the purchaser thereof, and the proceeds
thereof shall be used for the purpose of
constructing. extending and completing
the system of waterworks supplying
said town with water for fire and do
mestic and other purposes.
Section 4. That there be and there
hereby is levied upon each and every
dollar of valuation of the taxable prop
erty within said town Of Julesburg,
annually in addition to all other taxes,
q tax sufficient to pay the semi-annual
interest on all of said bonds outstand-
ing, and also after four years from
n arch l, A. D. 1911. tax sufficient
to produce one-fifth part Of the principal
of said bonds for the purpose of extin-
gushing the principal of said bonds
within ten (lO) years from the date of
said bonds and the taxing and collect
ing officers of said town are hereby au-
thorized and required to levy and cause
to be extended such taxes annually a
shall be necessary for purposes afore-
said, and due under this ordinance, and
the said taxes, when collected, shall be
applied only to- the payment of the
principal and interest of said bonds
respectively, and for no other purpose
whatever, until the indebtedness con-
tracted under this ordinance, both prin-
cipal and interest, shall be fully paid,
satisfied and discharged. Provided,
however, and it is hereby so ordered and
directed that the earnings from the
waterworks system Of said town, over
and above the cost of operating, main.
tanning and improving the same, shall
be placed IN the bond fund hereby and
by other ordinances of the town
created, to be applied to the pay
ment of the interest and prin-
cipal of the bonds hereby au-
thorized, as well as to the payment of
the interest and principal of the bonds
of the town heretofore issued and out
and provided further, that,
any surplus of such revenues over and
above the provisions hereby made and.
which are hereby required to be paid.
in any one year, may be placed. in. the
general fund and used in the payment
of the general expenses of the town;
and provided also, that in the case of
the payment in any one year into said
bond fund of any of the net revenues
of the said waterworks of said town
applicable to the payment of the bonds
herein provided for, interest and prin-
cipal as aforesaid, then and in that event,
the tax levy hereinbefore provided for
may for the next succeeding year be
reduced 80 as to raise only such an
amount necessary to meet the interest
On such bonds when and as the same
accrues, together with the sum herein
provided for necessary to extinguish
the principal of said bonds at maturity.
And the sums hereinbefore provided
for to meet the interest on said bonds
and to discharge the principal thereof
when due, are hereby appropriated for
that purpose and said amount for each
year shall also be included in the annual
appropriation bills passed by the board
of trustees of said town in each yeal
respectively.
Section 5. 1t shall be the duty OF
the board of trustees of said town, an
nually, at the time and in the manner
provided by law for levying other towr
taxes, if such action shall be necessary
to effectuate the provisions Of this or