Yerington times. [volume] (Yerington, Nev.) 1907-1932, 1912-06-22

r9ND II ri yIr N oTr ~ ~ rsT EN- ny
| SIN THOUSAND DoLLARS FOR THE
PPTRP az oF rToRSSiiE HWTp sYS
| BENEFIT OF IT'S INHABITANTS.
| Whereas, 1t is deemed necessary by the
| of adequate system OF sanitary sewers for
sanitary and health purposes; and
Whereas. Plans and specifications for the
OF sne system bs OF
| gineer, and have been approved by the City
Council and file with the City
Clerk and
! Whereas, The estimated cost of the con
struction of said system Of sanitary
is Twenty-Six Thousand Dollars $26.O0O),
and it is the judgment of the City Council
vided for by the issuance OF bonds of the
Now. THEREFojRE. BE IT RESOLVED.
by the City Council of the City OF Yering-
ton, Nevada, that for the purpose at provid.
ing Tor 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 amount
of twenty Six Thousand Dollars (s26,0O0) to
be known and designated Sanitary Sewer
Bonds Said bonds shall be of the denomi.
nation Of 81 900 each shall be numbered to
| 20. inclusive; shall be dated 1912,
and shall mature and become redeemabe as
follows:
Bonds numbered / to 49, inclusive, shall
| mature Is years after cate; with the option
Bonds numbered IA to 20, 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 60 per cent? per annum
payable semi annually. and shall have
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
and revenue shall be placed by the Treas
sIs 'h sEDn sK'noi fuSb 5S which
shall be used solely for the payment Of the
principal and interest Of said bonds.
t sns,r DC s p,oc.ue " .ne hore.s,er ,aseed
that for the years 1912 to 1926. both inclu-
sive, and as many years subsequent thereto
ally levied and collected special tax to
make provision for the payment of the prn
cipa and interest of said $4,000 bonds suf
iicient in amount to raise the sum Of sl.s6o
sinking fund to pay the 5000 bonds pay
able in Is years. and in addition thereto, for
the years 1927 to 1911, 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
$4,000 as a sinking fund to pay the princi
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 ''Yerington Times" a 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. if 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
luton duly seconded by Councilman
Crowninshied and upon roll call the vote
thereon as follows:
Yeas Crowninshield. Hanson, Knierim and
Henderson
Councilmen.
Nays-None
Whereupon the Mayor declared the reso
luton adopted.
STATE OF NEVADA &C
County of Lyon.
/, T.. II. Nntacre, City Clerk of the city OF
Ierington. in the county and State aforesaid.
hereby certify that the above and foregoing
OF proceedings and resolution adopted by the
City Council OF said City at meeting held on
the goth day OF May, 1912, the same being
regular meetino of said Council, far as the
relate to the issuance of Sanitary Sewer
Bonds.
WITNESS my hand and the seal of said
City. this 10Th day of May, A. D. 1912.
+. II. WHITACRE,
(Seal) City Clerk