Yerington times. [volume] (Yerington, Nev.) 1907-1932, 1911-09-02
RESOLUTION TO BOND CITY
TO INSTALL MUNICIPAL
WATER SYSTEM

RESOLUTION PROVIDING FOR THE ISSt-
ANCE OF NEGOTIABLE COUPON BONDS
OF THE CITY OF NFRINGTON IN THE
AMOUNT OF THIRTY SIX THOUSAND
DOLLARS FOR THE PURPOSE or con
STRUGGLING A WATERWORKS SYSTEM
To SUPPLY SAID CITY AND ITS lNHAB-
ITANTS WITH WATER.
WHEREAS 1t is deemed necessary 10y the
City Council to provide for the construction OF
an adequate waterworks system to supply the
City OF Yerington and Its inhabitants with water;
and
WHEREAS, Plans and specifications tor the
construction of such waterworks system nave
been prepared by {. H. Green. Engineer and
have been approved by the City Council and are
now file with the City CLERK and
WHEREAS, The estimated cost of the con
Struction t said waterworks system is Thirty
six Thousand Dollars $4,000, and it is the
Judgment OF the City Council that payment for
the same should be provided Tor by the issu-
auce of bonds OF the city in that amount now
therefore
BE IT RESOLVED, by the City Council OF the
City OF Nerington. Nevada that Tor the purpose
OF providing for the construction of an adequate
waterworks system in and Tor said city. there
shall he issued the negotiable coupon bonds OF
said city i'll tho aggregate amount OF Thirty SIX
Thousand Dollars $50 oool. to be known and
designated as "Waterworks Bonds. said
bonds shall be of the denomination OF $1,000
each; shall he numbered To o. inclusive; shall
/ be dated September l. 1911, and shall mature
! and become redeemable a. follows: Bond, mum
+ bers to rs, inclusive, shall mature IS years
after date, with the option OF redemption after
+ ten years from date; aud bonds numbers 10 to 90.
/ inclusive, shall mature 80 years after date, with
/ the option of redemption after 20 years from
! date said bonds shall bear interest at the rate
Of Six Per Centum per annum, payable semi
annually. and shall have coupons attached for
4 each l1mput a M
/ and interest shall be made payable in law fu
money OF the United states OF America, at the
[ National Bank of Commerce. in the city and
state of New York. Payment OF the principal
and interest of said bonds shall be provided for
by the levy of a direct annual tan upon an The
taxable property in the city, and 10y the appro-
pration OF the net revenues OF the watcrwork Ks
system Tor that purpose and the proceeds OF
said tax and revenues shall be placed by the
Treasurer in the 'Yerngton Redemption Fund %
which shall he used solely for the payment OF
the principal and interest OF said bonds.
BE IT FURTHER RESOLVED that this resolution
shall be published in full in the VERINoruN
TIMES a newspaper published III the city tor a
period of four weeks: and at the f 81 regular
meeting of the Council after the expiration OF
the period OF such publication, it no petition
shall have been filed, provided by law pray
ing tor special election said city upon the
question whether or not the proposed ordinance
shall be passed, the City Council will proceed to
pass an ordinance for the issuance OF said bonds
in accordance with the provisions OF the fore
going resolution
The above resolution was passed by the fol
lowing vote
Yeas councimen G.amberson Hanson. Knic.
rim, Crowninshield.
Nays-None.
I Ahsent-Noue, T. ". FAIRBANKS
Attest Mayor
Il. II. WHITACRE. CLERK.
No.,