Yerington times. [volume] (Yerington, Nev.) 1907-1932, 1911-09-16
RESOLUTION TO BOND CITY
TO INSTALL MUNICIPAL
WATER SYSTEM

,.,.,,, ,,rton- DOWNING FOR THE ISSU-
ANcE OF NEGOTIABLE COUPON BONDS
oE ruF CITY OF YFRINGTON IN The
AMOUNT OF THIRTNSlN hou SAM PAM.
DOLLARS FOR THE PURPOSE Or OoN-
STRUGGLING A WATERWoRko SFo y VI
TO SUPPLY SAID CITY AND ll9 NiiA"
ITANTS WITH WATER.
vurREAs 1t is deemed necessary by the
CITY Council to provide Tor the CONSTRUCTION Vi
am adequate waterworks system to supply the
civ of Yerington and Its inhabitants with water
and ,
WHEREAS. plans and specifications for the
construction of such waterworks system nave
been prepared by {. IL. Green. Engineer. ana
have been approved by the City Council, ana are
now on file with the City Clerk; and
WHEREAS The estimated cost OF the con
struction f said waterworks system Is lhlIty-
six Thousand Dollars 10000, and II Is the
Judgment OF the City Council that payment Tor
The same should be provided Tor by the issh-
arce of bonds of the city i'll that amount; now
therefore.
BE IT RESOLVED, by the City Council OF the
CITY OF Yerngton. Nevada, that tor the purpose
OF providing for the construction OF an adequate
waterworks system i'll ana for said city, there
shall be issued the negotiable coupon bonds OF
said city in the aggregate amount OF Ihlrty-oiN
Thousand Dollars $50 Qnq@- to be known and
I
bonds shall be of the denomination OF $1,000
each; shall be numbered TO 90, inclusive; shall
be dated September /, 1911, and snail mature
and become redeemable As follows: Bonds mum
beers I to rs inclusive, snail mature IS years
after date. with the option OF redemption after
ten wears from date; and bonds numbers 10 to 80,
inclusive shall mature 90 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 tor
each installnent of interest, Both puncipa
and interest shall be made payable i'll lawfu
money OF the United States OF America, at the
National Bank of Commerce. i'll the city and
state of New York. Payment OF the principal
and interest of said bonds shall be provided for
bv the levy of a direct annual tax upon all the
taxable property i'll the city, and by the appfo-
priation OF the net revenues of the waterworks
system tor that purpose, and the proceeds OF
said tax and revenues shall be placed by the
Treasurer in the 'Yerngton Redemption Fund 10
which shall be used solely tor the payment OF
the principal and interest of said bonds.
BE IT FURTHER RESOLVED that this resolution
shall be published in full in the YERINGroN
TIMES. a newspaper published in the city, for a
period of four weeks: and at the fl Il regular
meeting OF the Council after the expiration ct
the period of such publication, II no petition
shall have been filed. as provided by law, pray
ing for special election III 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 Councilmen Lamberson, Hanson, Knie-
rim, Crowuinshield.
Nays-None.
Absent-None, +. W. FAIRBANKS,
Attest: Mayor.
T.. II. WHITACRE, Clerk.
STATE OF NEVADA.
County of Lyon.
l. T.. II. Whitacre, City Clerk OF the city
of Yerington. in the county and state Aforesaid,
hereby certify that the above Is a full true aud
correct copy of a resolution adopted by the city
Council OF sad City at a meeting held on the rtth
day OF August. 1911. the same being regular
meeting OF said Council
Witness my hand and the seal of said City
seal this I4th day OF August. 1911.
f.. II. WHIrACRE, City CLERK.