The Delta independent., 1912-07-05
SECTION v.

/ That tile refunding bonds hereby
authorized to be ISSUED, or thr pr'crepS
purpose OF paying, iedeemlnH ahd -
iunaing the legal outstanding bonds
lie. elm provided to be refunded. nor
shah the bonds hereby authorized be Is
sued until the outstanding bonds to be
| refunded have been called in and can
celIed in an amount. equal to or In cN-
cess OF tie bonds issued, and for
no other purpose. and TO that end the
said bonos shah be sold by the Clty
u. to the city and the proceeds thereof
4sed in the payment Of said bonded In
debtedness to be refunded. or may eN-
change dollar for dollar the bonds here
By authorized. or any thereof. for bonds
of the said City OF Delta to be refunded
due and payable the INST day OF July.
a. -. 1912. as directed by the city coun-
ell. nor shall said refunding bonds here
by authorized be issued until all the
10 be refunded shall be paid
SECTION VI.
That notice by publication In an Of
fetal newspaper Of the city of Delta
weeks Immediately following the date
when this Ordinance shalt be In fun
parties whom 1t may concern that the
city OF Lelta will redeem and pay IN.
ten thousand dollar tle. .oog 90 bond
July a. ID. 1912. or viii exchange dol
- for dollar the said reiunding bonds
for bonds to be refunded. and that
tLe following form;
Public notice of the intention OF the
City OF Delta to redeem and pay bonds
oi the City OF Delta due and paynbie
tne hrst Gay OF July. n. -. 1912, or eN-
nange reiunding bonds dollar FOR dol
80 Whom 1t May Concern:
Public notice Is hereby given that
the ',ny OF Delta. in the state OF Col
orado. has authorized the issue of its
negotiable coupon Iefunding bonds In
the aggI egate amount OF ten thousand
dollars for the purpose OF refunding
.ne amount OF bonds due and payable
at SAID iefunding bonus viii be ex-
| changed dollar for dollar or sold and
tne proceeds thereof used for the re; re,
payable the nrst oay Of July. y. u.
1912.
that after "A period OF twenty days
.Iom the last publication of this notice
said bonds; due and payable the FIRST
draw interest. and that said bonds due
and payable Il & A. D' .Iid 81 all be pre- pre-
city Of Delta. Colorado. for payment or
! exchange.
Dated at Delta. Colorado. the----day
city Treasurer.
| First publicn tlon----------
Second publication
SECTION VII.
That when issued the refunding
bonds hereby authorized shall be duly
| registered by the city clerk IN "A DOvk kept
for tfat purDose. noting the date. op-
ional and maturity dates. interest pay
ing periods and representative Interest
and principal bonds. and the treasurer
| shall keep a liks register and shall en-
ter therein the date of said bonds. the
terest and inter est paying periods. Said
bonds hereby authorized shall be execut
ed and delivered from time to time on
| " so fast as like principal amount Of
said bonds due and payable the first day
OF July. a. y. 1912. liz presented for
ner that no increase in the debt of the
| city OF Delta shall at anv time result
therefrom. and said bonded indebted
ness refunded shall thcreupon be i'm
mediately cancelled In an amount equal
to or in excess of the refunding bonds
| so Issued. and the report or reports OF
| the proceedings In the execution and de-
livery of the refunding bonds hereby
dcbtedness thus refunded shall be made
to the city council by said treasurer.
SECTION VII.
For the half-vearly interest accruing
ON refundng bonds actually issued and
delivered hereunder the said council
shall levy annually and cause to be
charge such interest and for the ulti-
mate redemption OF said bonds they
the date Of such issuance such taxes
upon the taxable property In said city
as VIII create a yearly fund equal to
said bonds issued. which fund shall be
called the redemption fund: and all
taxes for interest on and for the redemD-
ton Of said bonds shall be paid In
| cash only and shall be kept by the
| city treasurer as n special fund to be
used In the payment of interest and for
the redemption of said bonds only: and
said taxes shall be levied and collected
ms other city taxes are levied and col
| lected.
SECTION TX.
II shall be the duty of the city treas
urer from the commencement of the
earliest maturity period of said refund
| Ing bonds, and when there are sufficient
| funds In his hands to the credit OF the
| redemption fund. to pay In fun tho