The Birmingham age-herald., 1913-11-25
ordinnnce No. 1aa-C

An Ordinance providing for the is
ss@ suanee nee of bonds to the amount of
outstanding contractors estimates for
public improvements.
WHEREAS, the assessments for the
cost OF improvements made under Inn
provement Ordinance No. 447, New
Series, of the City of Birmingham have
been made final on the End day of
Septem Der, 1913 and the balance of the
cost of said improvements remains un-
paid as evidenced by certain outstand-
ing contractors estimates and, where
as, for the purpose of providing means
to pay for the part of the work remain
ing unpaid, it Is necessary to issue and
sell S9nds to tie e n amoHnt Of s1Soo9;qe. go
DAINEED, 0E by HhepRnE the Board of Of commis- mis-
sioners of the City of Birmingham as
Of Birmingham to the aggregate prin-
cipal amount of $75,0O0.00 of the de-
nomination of $500 each and number
issued to pay for said unpaid part of
said improvements. The said bonds
shall run for 10 years and shall bear
annum, payable annually at The Hon
over National Bank in New York City,
he that they shall be
paying the holders thereof as a bonus
sum equal to half the annual interest
the corporate seal of the City of Bir-
ming ham, and both bonds and coupons
shall be signed by the President of the
BOu1Q OF commissioners ana Ine Illy
Comptroller. The form of said bonds
shall be substantially as follows. to- wit:
UNITED STATES OF AMERICA
No. State of Alabama $4,000
City of Birmingham
City Public Improvement Bond
Series 447
of Alabama. for value received hereby
promises to pay the bearer the sum Of
December, 1928, with interest thereon
at the rate of 5 per cent per annum,
payable annually to the bearer of the
respeetivei ,i interest COUPONS attached on
est being payable In gold coin of the
of weight and fineness at the office of
The Hanover National Bank in the City
of New York. This bond is one of
series of, bonds of like date. denomin-
alton and tenor aggregating s75.0O0.00,
and numbered consecutively from ] to
150, inclusive. The City of Birmingham
before maturity upon any interest date
by paying to the holder thereof as
bonus sum equal to one half the an.
Birmingham shall give public notice
Of its intention to redeem this bond be
fore such ,aa interest date by pnblcation
weeks in a daily newspaper published
In Birmingham, Ala, said notice to con-
tain description rS of this hnnd bond n by
1903 and 1410 Of the Code of Alabama
1907, and of an Ordinance Of the City
of birmingham duly passed, approved
and published
This bond is issued for the purpose
of providing funds for the payment of
certain improvements made under
Improvement Ordinance No. 447. new
SERIES
And it is hereby recited that every
requirement of the constitution and of
the laws of Alabama relating to the issue
hereof, has been duly complied with.
that the funds arising from the parti-
cular assessments on account of said
improvements are sacredly and irrevoc-
ably pledged for the payment of the
principal and interest OF this bond and
that this bond is Within every debt and
other limit prescribed by the constitul
tion or laws of the State of Alabama.
The full faith and credit Of the said
City of Birmingham are hereby pledged
for the prompt. .~vment OF the princi-
pal and interest hereof
In witness whereof the said City of
Birmingham has caused its seal to be
hereto affixed and this bond to be
signed by the President of the Board of
Commissioners and the City Comptrol-
Ter, this 1st day of December, 1913,