The Colfax gazette. [volume] (Colfax, Wash.) 1893-1932, 1912-02-16
ORDINANCE NO. 400.

An Ordinance providing for refund
| ing $3O,000.00 of General Municipal
Bonds of the City of Colfax, Washing
| ton, and 100000 Of Water Bonds of
said City Of Colfax, said General Mu-
nicipal Bonds bearing date April 1st,
1892, and issued in pursuance of Ordi-
nance No. 106, passed by the City
Council on the 10th day of August,
1891, and said Water Bonds bearing
date April End, 1892, and issued in pur-
suance of Ordinance No. 104, passed by
said City Council on July 28th, 1891,
both expressly authorized by three
fifths majority of the voters Of said
City of ColfaX voting on said questions
at a special election duly held in said
City on September 18th, 1891, by the
issuance and exchange of $77,O00.OO of
refunding bonds; prescribing the form
of said bonds, and the manner and
method of exchange, fixing the time of
their payment and rate of interest; and
providing for the annual levy and col
lection of a tax sufficient to pay the
semi annual interest and the bonds as
they become due;
Whereas, the City of Colfax, Wash
ington, did, under date of April 1st,
1892, under and by virtue Of Ordinance
No. 106 passed by the City Council,
August 10th, 1891, pursuant to the di-
rection of three-fifths majority of the
voters of said City voting on said Ques-
ton at a special election duly and
legally held therein for said purpose on
the 19th-day Of September, 1891, issue
and sell its negotiable coupon bonds to
the number of 80 of the denomination
OF 100000 each, aggregating the sum
of 100000, due twenty years after
date and bearing six per cent interest
per annum, payable semi-annually, the
proceeds of which were issued for var
ious municipal purposes; and
Whereas, the said City of Colfax
Washington, did under date of April
End, 1892, under and by virtue of Ordi-
nance No. 104, passed by said City
Council on July 18th, 1891, pursuant to
the direction of a three-ffths majority
of the voters of said City voting on
said question at a special election duly
and legally held therein for said pur-
pose on the 18th day of September,
1891, issue and sell it's negotiable
coupon bonds to the number of AZ of
the denomination of 81 ,0O0. 90, each, ag-
gregating the sum of $47,000.0O. due
twenty years after date and bearing
six per cent interest per annum paw
able semi-annually, the proceeds of
which were issued for building
water works system for said City of
ColfaX, and
Whereas, all Of the above described
bonds will become due and payable on
the following dates. to-wit said Water
Bonds will become due and payable on
Apri! End, 1912, and said Bonds for
Municipal purposes will become due
and payable on April 1st, 1912, and
there is not now nor will there be on
April 1st or End, 1912, sufficient funds
in the City Treasury available for the
payment Of any of said bonds and
Whereas, 1t is considered expedient
and necessary to provide for the pay
ment and redemption Of all Of said
bonds at the date of their maturity
and
Whereas, such payment and redemp-
ton can be provided for by the issu-
ance Of refunding bonds; now, there
fore,
The City Council of the CITY of Col
fax do ordain as follows:
Section l. That the Mayor, Clerk and
Treasurer of said City of Colfax be
and they hereby are, authorized to
have engraved and Autographed, on
good bond paper, bonds Of the City of
Colfax to the amount of $4,000. 90
which bonds shall be issued as herein
after provided Said bonds for mu-
nicipal purposes shall bear date April
LIST, 1912, and said Water Bonds shall
bear date April End, 1912, shall be
payable twenty years after date, shall
pc IN denominations of one thousand
dollars each and shall bear interest not
exceeding six per centum, per annum.
payable semi annually; the interest on
said Municipal Bonds payable on
october lst and April LIST In each and
every year during said term, and the
interest on said Water Bonds nayahle
on october End and April End, in each
and every year during said term
ihlrty OF said bonds to be numbered
from one up, consecutively, and aggre-
eating the sum of thirty thousand dol
lars, shall be styled "Refunding Cen
eral Municipal Bonds of the City Of
Co!fax, Washington, Series "A of 1912,
and forty-seven of said bonds to he
numbered from one up, consecutiveIv
and aggregating forty seven thousand
dollars, shall be styled "Refundine
Water Bonds of the City Of Coifax
Washington, Series b. of 1912" There
shall be attached to each Of said bonds
coupons for the several semi-annuai
interest payments, and all of said
ponds, both principal and interest shall
be payable in gold coin of the United
States of America, of the present
standard of weight and fineness. at
the fiscal agency of the State of WASH
| lngton, in the City Of New York. or at
| the office of the City Treasurer Of Col
fax, at the option of the bearer there
OF. Said Bonds shall be signed by the
Mayor, countersigned by the Civ
Treasurer, and attested by the civ
Clerk under the seal of said CITY. Said
coupons shall be signed, countersiened
attested and sealed in the same man
ner, except that said signatures and
seals may be Autographed fac SMILES
or the originals Said coupons shall he
numbered from one upwards. and tbe
coupon on each bond shall be nunhara6
10 correspond to such bond. Such
bonds and coupons shall be substan-
| tally In the following forms, respec-