Yerington times. [volume] (Yerington, Nev.) 1907-1932, 1912-05-25

BONDS OF THE CITY or YERING
TON IN THE AMOUNT OF TWENTY:
PURPOSE OF CONSTRGCTINC. 4 SYS,
TEN or SANITARY SEWERS IN AND
FOR sA!n CITY FOR THE USE AND
BENEFIT OF IT'S INHABITANTS.
Whereas, 1t is deemed necessary by the
City Council to provide for the construction
OF an adequate system OF sanitary sewers for
sanitary and health purposes; and
Whereas. Plans and specifications for the
construction of such system OF sanitary sew
ers have been prepared by {. II. Green. En-
gineer. and have been approved by the City
Council and ON file with the City
Clerk: and
Whereas. The estimated cost of the con
is Twenty Six Thousand Dollars (S26000),
and it is the judgment of the City Council
that payment for the should be pro
vded for by the issuance of bonds of the
Now. THEREF0RE. BE IT RESOLVED
by the City Council OF the City OF Iering
ton, Nevada, that for the purpose al provd
ing for the construction OF an adequate sys-
TEN of sanitary sewers in and for said city,
there shall be issued the negotiable coupon
bonds of said city in the aggregate amour,
of twenty Six Thousand Dollars ($26.000) to
be known and designated as Sanitary Sewer
Bonds Said bonds shall be of the denomi-
nation of S 900 each shall be numbered to
20. inclusive; shall be dated .... 1912,
and shall mature and become redeemable as
follows
Bonds numbered / to 10. inclusive shall
OF redemption after ten years from date
Bonds numbered IA to 26., inclusive, shall
mature 80 years after date, with the option
OF redemption after twenty years from date.
Said bonds shall bear interest at the rate
of six per centum 90 per cent? per annum;
payable mi-annually. and shall have cou-
pons attached for each installment of interest
Both principal and interest shall be made pay
able in lawful money OF the United States
of America at the National Bank OF Com
merce, 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
direct annual tax upon all the taxable prop
erty in the city and by the appropriation OF
the net revenues of the sanitary sewer system
for. that purpose and the proceeds Of said tax
apd H the shall aTSofGN N
SEWERS REDEMPTION Fl ND which
shall be used solely for the payment of the
principal and interest Of said bonds. -.
ing their issuance, to be hereafter passed,
that for the years 1912 to 1926, both inclu-
sive. and as many years subsequent thereto
as may be necessary, there shall be annu-
ally levied and collected special tax to
make provision for the payment of the prin-
cipal and interest OF said 100000 bonds sui
hcient in amount to raise the sum OF 81 500
for the interest thereon. and $S66.67 as
sinking fund to pay the 81 1000 bonds. pay
able in Is years. and IN addition thereto Tor
the years 1927 to l9+1 both inclusive and as
many years subsequent thereto as may be
necessary. there shall be levied and collected
the further sum- OF $3.50 for interest and
q
pal and interest on the $4,000 bonds payable
in 80 years
BE IT FURTHER RESOLVED. That
this resolution shall be. published in full in
the "Ierngton Times. newspaper pub
lished in the city for period OF at least four
weeks and at the first regular meeting OF the
City Council after the expiration of the period
Of such publication. il no petition shall have
been filed as provided by law praying for
special election in said city upon the ques-
ton whether not the proposed ordinance
shall be passed, the City Council will pro
coed to pass an ordinance for the issuance OF
said bonds in accordance with the provisions
of the foregoing resolution.
The motion to adopt the foregoing reso-
luton was duly seconded by Councilman
Crowninshield. and upon roll call the vote
thereon as follows:
Yeas rowninshield. Hanson, knierim and
Henderson.
Councmen.
Nays-None.
Whereupon the Mayor declared the reso-
luton adopted
STATE or NEVADA
County of Lyon. }
|, f. II. ntacre, City Clerk OF the city OF
hereby certify that the above and foregoing
is a full true and correct copy OF the record
Of proceedings and resolution adopted by the
City Council of said City at a meeting held
the goth day OF May, 1912 the same being
regular meetino of said Council. far the
same relate to the issuance of Sanitary Sewer
Bonds.
WITNESS my hand and the seal OF said
City. this 20th day of May, \, ID. 1912.
+. H. WHITAKER,
(SealD City Clerk.