The Delta independent., 1912-07-05
ORDINANCE NO. 4, 1912.

AMOUNT OF TEN THOUSAND DOL
FUNDING BONDs.'' FOR THE PUR-
POSE OF REFUNDING SAID INDEBT-
County of Delta. has now outstanding a
city bonded indebtedness in the aggre-
COO oO). due and payable on the first day
OF July: A. D. 1912, and
WHEREAS. by resolution. duly .adopts
May. A. D.l 1912. the city council of
CO, declared that subject to the APP
tiOtl to be held therein on Tue day. the
Of oS'H said % City. T to be be denominated @ e oc ,se
funding Bonds" should be issued, the
same TO be exchanged dollar for dollar
of said city of Delta. Colorado. at not
less than their face value, and the pro-
pespS purpose cor Of paying and % redeemins @ * said aid
the hrst day Of July. A. D. 1872, in &C;
Assembly of the state of Colorado, an
proved April 80. 1901. entitled An Act
to Enable Cities and Towns of the
State, whether Incorporated under Gen
cIal Law or under Special Charter to
refund their bonded indebtedness which
has matured or may hereafter mature,
or has may hereafter become paya-
BILE at the option of said City or Town
by issuing Relunding Bonds providing
the principal and interest and reg
istration thereof, and repeating Chapter
11O of the Session Laws, 1890, and all
conflicting Acts" and
WHEREAS. by said resolution approx
ed and adopted the seventh day of
May. A. ID. 1912. the said City Council
cf the said City of Delta did deter
mine that the amount of said refund
ing bonds to be issued as aforesaid
should be ten thousand dollars, and
WHEREAS. a Gel tificate of such de-
termination and finding has heretofore
ords Of said City council. and
WHEREAS. by Ordinance No. 3,
Series of 1912, entitled An ORDINANCE
question of refunding water bonds of
the City indebtedness to the vote of
the qualified electors of said city, who
ing election therefor" said special
election to be held on the 18th day of
funding ten thousand dollars $50. .0OOJ
of said water works bonds be submit
ted
Said Ordinance was introduced. read
and ordered published on the seventh
day of May. a. ID. 1912. and passed
ana adopted on the twenty-hT day OF
Nav a. u. 1912. after having been du-
ly published more than ten days prior
to the adoption of the same and duly
law Of said Citv.
1he. question of refunding the said
first day of July. y. d. 1912, was. in fun
conformity with law. submitted to the
qualified electors of the said City OF
Delta at special election held in said
city Tuesday. the 18th day of June.
WilEREAS. by resolution, duly adopt
ed and approved the seventh day OF
Iay. 4; y; 1912. the city Council OF
that said election resulted in favor of
rofunding ten thousand dollars $50. .ooo)
water works bonds. due and payable
ne hrst day of July. a. ID. 1912. OF the
city of Delta.
, Now, THEREFoRE, Be it ordained
by said Council Of said City OF Delta.
SECTION l.
That negotiable interest bearing cou-
pom bonds in the name of the city OF
to the bonds to be refunded as hereto
lore determined by said Council. to- |
Iit; In the aggregate Am amount % OF ten
purpose of refunding city water works
lords. due and payable the first day
SECTION u.
said city OF Lelta be, and they are |
hereby authorized and directed to have |
coupon bonds of said City in the aggre-
gate amount OF ten thousand dollars
SECTION III.
That the said refunding bonds shall
bear date of the first day of july. a. -. |
1912. shall be payable at the option of
IHe lily lJtltd ten years dIter date,
and shall be absolutely due and pay
able twenty years from date thereof.
and shall consist OF twenty bonds In the
denomination of Five Hundred Dollars
$500. OO) each. numbered consecutively
from one to twenty. both numbers in
elusive.
The interest shall be payable semi
mt ally at the rate OF hye and half
t5ls) per cent per annum on the first
Jnly IN each year at the oihce OF the
CITY Treasurer in Delta. Colorado. or at
tie banking house of T.. u. Rollins &
States of America, at the option of the
holders of the interest coupons evidenc-
ing said interest. Said bonds shall be
signed by tie mayor of said city, at
signed by the city treasurer. and shall
bear the seal Of the said city. and the
coupons thereto annexed representing
the semi annual interest thereon shall
inal or by ithograph signature: and the
said bonds shall be registered by the
state auditor In a book bound and kept
by him for that purpose. and when said
bonds shall be so signed and registered
by the state auditor OF the state OF
Colorado. the legality thereof shall not be
open to contest by said CITY of Delta
or any person for or on behalf OF the
said city of Delta for any reason what
ever.
That the said bonds and coupons
thereto annexed shall be in substantially
the following form:
United States of America,
state of Colorado. County of Delta.
REFUNDING BONDS.
No.-------- $500 90
The city OF Delta. In the county OF
Delta. and state of Colorado, hereby
acknowledges itself indebted and prom
ises to pay to the bearer five hundred
dollars ts50000). lawful money Of the
United States OF America, for value
ceived. redeemable at the pleasure OF
said city after ten years. and absolutely
due and payable twenty years from the
date hereof at the office of the city
IIeaSuIer In the CItY of Deltn. Delta