Yerington times. [volume] (Yerington, Nev.) 1907-1932, 1911-08-26
RESOLUTION TO BOND CITY
TO INSTALL MUNICIPAL
WATER SYSTEM

RESOLUTION PROVIDING FOR THF IsSU-
ANCE or NEGOTIABLE COUPON BONDS
OF THE CITY OF NFRtNGTON IN THE
AMOUNT OF THIRTY SIX THOUSAND
DOLLARS FOR THE PURPOSE OF CON
srRUCTGNG A WArERWORKs sISrFM
TO SUPPLY SAID CITY AND lis iNuAB=
ITANrs WITH WATER.
WHEREAS II is deemed necessary by the
CITY Council to provide for the construction OF
an adequate waterworkS system TO supply the
CITY OF Yeriugton and Its inhabitants with water,
and
WHEREAS Plans and specifications for the
construction OF such waterworkS system have
been prepared by c. II, Green. Engineer. aud
nave been approved 10y the City Council, aud are
now on file with the City clerk aud
WHEREAS, The estimated cost OF the con
struction f said waterwork- system is Thirty
six thousand Dollars lsg6,aooI. aud IL is the
Judgment OF the CITY Council that payment tor
the same should be provided Tor 10y the i-su-
auce of bonds of the city in that amount, now
therefore.
BE IT RESOLVED, by the City Council OF the
City OF NerugtOu. Nevada. that tor the purpose
I OF providing Tor the construction of an adequate
waterworks system in and for said city. there
shall be issued the negotiable coupon bonds Of
said city in the aggregate amount ct Thirty Six
Thousand I3.lars $50 ooul 20 be known and
designated as "Waterworks Bonds said
bonds shall be OF the denomination OF $1,000
each, shall he numbered to Co. inclusive, shall
/ he dated September D.. 1871, and shall mature
and become redeemabe as follows: Bonds uuH-
bers { TO rs, inclusive, shall mature Is year,,
. after date, with the option OF redemption after
ten years from date; and bonds numbers Iq tu So,
inclusive, shall mature 81 years after date, with
the option of redemption after 20 year. from
date. said bonds shall bear interest at the rate
of six Per Centum per amuuIu. PAYABLE semi
. and shall
each installmeut of interest Both principal
and interest shall be made payable ~ lav ful
money OF the United states OF America at the
/ National Bank Of Commerce. in the city aud
state OF New York. Payment of the principal
and interest of said bonds shall be provided for
by the levy of a direct annual tax upon all the
taxable property in the city, and by the appro-
priation OF the net revenue, OF the watcrworks
system for that purpose aud the proceed, of
said tax and revenues shall be placed by the
Treasurer in the 'Yerngton Redemption Fund g."
which shall be used solely for the payment OF
the principal and interest of said bonds
BE If FURTHER RESOLVED that this resolution
shall be published in iull ia the YERtNGroN
TIMES a newspaper published in the CITY Ton IA
period OF four weeks: aud at the INST regular
meeting OF the Council after the expiration of
the period OF such publication, il no petition
snail have been hled, as provided by law pray
ing Tor special election M said city upon the
question whether or not the proposed ordinance
shall be passed, the City Council will proceed tu
pass an ordinance Tor 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 I.amherson Hanson. Enie-
rim, Crowuiusheld.
Nays None.
Attest Mayor.