The Virginia enterprise. [volume] (Virginia, St. Louis County, Minn.) 1893-19??, 1913-02-07

ncSO4uI1Ou determining 10 issue
$450,00O.00, water and light bonds,
and providing for the form, issu-
ance and sale thereof.
By Alderman McGhee:
Resolved, by the city council of
the city of Virginia, that
Whereas, the electors of the city
/ of Virginia, at an election duly held
on the 18th day of December, 1912,
declared in favor of the issuance of
the bonds of said city in the sum of
four hundred fifty thousand dollars
($45O,000.0O) for the purpose of
purchasing the electric light and
water plant then and now owned by
the Virginia Electric Power & Wa
ter Company in the city of Virginia;
and
Whereas, the city of Virginia and
| the city council of the city of Vir-
ginia desires to issue the bonds of
said city in said amount of $780,
100000 and to dispose of the same
and to use the same and the proceeds
thereof for the purpose of purchas-
ing the electric light and water plant
of said Virginia Electric Power &
Water Company aforesaid;
Resolved, that the city of Virginia
and the city council of the city Of
Virginia hereby determines to issue
| the bonds of said city in the amount
of four hundred fifty thousand dol
lars ($450,0O0.00); that the said
bonds shall be of the denomination
of one thousand dollars each, and
shall be payable at the American
Exchange National Bank of the city
of New York; that they shall be pay
able to bearer, and shall become
due and payable, according to the
determination of this council to be
made after the receipt of the bids
hereinafter provided for, either
three hundred thousand dollars
| ($300,000.00) thereof on March 1st,
1928, and $150,000.0O thereof on
March LIST, 1928, or the entire is
sue thereof on March LIST, 1923, or
the entire issue thereof on March
LIST, 1928; or serially $20,OOO.O0
thereof on each March 1st, 1914 and
March LIST, 1915, $25,O00O0 there
of on each March LIST, 1916 and
March 1, 1917, $4,000 thereof on
each March LIST, 1918, March 1st,
1919 and March LIST, 1920, $685.
10000 thereof on each March LIST,
1921, March /, 1922, March l, 1928,
March 1, 1924, March i, 1925 and
March /, 1925, and $4,000 thereof
1928; they shall draw interest, to be
represented by coupons attached to
said bonds, at the rate of five 60
per cent per annum payable semi
annually on the first days of March
and September of each year at the
American Exchange National Bank
of the city of New York;
Resolved further, that said bonds
and coupons shall be substantially
in the following form, with the
blanks properly filled in accordance
| with this resolution;
United States of America. State
of Minnesota.
Water and light bond of the city
| of Virginia.
No. ........ 100000
Know all men by these presents,
that the city of Virginia, in the state
OF Minnesota, acknowledges itself to
be indebted, and hereby promises to
! pay, to the bearer the sum of one
! thousand dollars, in gold coin of the
United States of America of the
present standard of weight and fine
ness, at the American Exchange Ma
tional Bank of the city of New York,
on the first day of March, A. D.
49,, with interest thereon at the
rate of five 60 per cent per annum,
payable semi-annuallX in like gold
coin on the first days of March and
September in each year at said bank
on the presentation and surrender of
the interest coupons hereto annexed
as they severally become due
This bond is one of a series of
bonds of the same date in the ag-
gregate sum of $450,O00.0O, issued
| by virtue of the authority conferred
by the charter of the city of Vir-
ginia and the laws of the state of
Minnesota.
And it is hereby certified and re-
cited that all acts, conditions and
things required to be done precedent
to, and in issuance of, this bond have
been properly done, happened and
performed in regular and due time,
form and manner, as required by
law, and the full faith and credit of
the city of Virginia are hereby
pledged for the punctual payment Of
the principal and interest of this
bond.
In witness whereof, the city of
! Virginia has caused this bond and
the coupons attached hereto to be
signed by its mayor, sealed with it's
seal, and attested by it's clerk, the
first day of March, A. D. 1913.
Mayor.
Attest:
City Clerk"
The coupons shall be substantially
in the following form, with the
blanks properly filled in accordance
with this resolution:
City of Virginia, Minnesota, will
pay to the bearer $500, in gold
coin, at the American Exchange Ma
tional Bank of the city of New York,
on the first day Of. .........,1 49,.
being six months interest then due
! on it's water and light bond, dated
March 1, 1913, and numbered. 80.
- City Clerk
= Resolved further, that the city
clerk is hereby authorized and d.
rected to cause a notice to be pub
lished in the official newspaper of the
civ If sViruini 50 81 - esloa az fwicn con-