Rogue River courier. (Grants Pass, Or.) 1886-1927, 1913-12-05
ORDINANCE No. 600

An ordinance authorizing the is
suance of 100000, municipal bonds
of the City of Grants Pass. Oregon.
for the purpose of paying the cost
OF railroad to be built by the City
OF Grants Pass within and with
out its boundaries, for the bena-
fit and use of its inhabitants and for
profit providing for the levy of spe-
cial taxes for the payment of the
principal and interest of said bonds.
The City of Grants Pass ordains as
follows
Section /. That there be issued
the negotiable coupon bonds of said
City OF Grants Pass in the aggregate
amount of 100000, consisting of
two hundred bonds of 81 900 each,
numbered to 200, both inclusive,
which said bonds shall bear date of
November /. 1913, and carry interest
at the rate of six per centum per an
mum, payable semi-annually on the
first days of May and November Of
each year, such interest to be evil
denced by coupons to be attached to
said bonds, both principal and inter-
est to be payable in gold coin of the
United States of the present standard
OF weight and tinenass, at the Fiscal
Agency of the State of Oregon in the
City of New York, State of New
York; which said bonds shall mature
and be payable on the first day Of
November, 1888, with the right re-
served to said city of redeeming all
or any of said bonds on November /,
1928, or on any interest payment
date thereafter, provided thirty days
before the date Of such redemption
notice thereof shall have been filed
at the said place of payment and
published in at least one daily news
paper published in the City of New
York.
Section 2. That said bonds shall
be signed by the Mayor of said city
and countersigned by the Auditor
and Police Judge thereof. and the
corporate seal shall be thereto at
tached; and the said interest coupons
shall be signed by the said officers,
whose signatures upon such coupons
may be fac-similes of the originals;
said bonds and coupons shall be in
substantially the following form:
UNITED STATES OF AMERICA
81 100000 No.
State of Oregon, County of Josephine,
City of Grants Pass
Municipal Bond.
Know All Men BY These Presents,
that the City of Grants Pass, in the
County of Josephine. and State of
Oregon, is Justly indebted and for
value received hereby promises to
pay to the bearer on the first day
of November, 1888, the principal sum
of
One Thousand Dollars
with interest thereon at the rate
of six per centum per annum, pay
able semi-annually on the first days
of May and November in each year,
upon the presentation and surrender
of the annexed interest coupons as
they severally become due. Both
principal and interest of this bond
are payable in gold coin of the
United States of the present standard
of weight and fineness at the Fiscal
Agency of the State of Oregon, in
the City of New York, and State of
New York. For the prompt payment
hereof, both principal and interest
as the same become due, the full
faith, credit and resources of said
city are hereby irrevocably pledged.
This bond is one of an issue of
two hundred bonds of like date, tenor
and amount, aggregating 5000, 900,
and is issued for the purpose of pro-
viding for the payment Of the cost of
improvements constructed for the
benefit and use of the inhabitants Of
the said city and for profit, under the
authority of and in full compliance
with the laws of the State of Oregon
and the charter of said city, and in
particular Chapter 2S3 of the Laws
of Oregon of 1913, and Article X. of
the charter Of said city adopted by
vote of the qualified voters of said
city on October %, 1913, and an
ordinance duly adopted by the Com
mon Council thereof. 1t is hereby
certified and recited that all acts,
conditions and things required to
exist or be done precedent to and
in the issuance of this bond by the
laws and constitution of said state
have duly happened and been per-
formed; that provision has been
made for the levy and collection of
direct annual tax upon all the
taxable property within said city suf-
fcient to pay the interest and Drin-
cipal Of this bond as the same shall
become due; and that the total in
debtedness of said city, including
this bond does not exceed any con-
or statutory limitation.
This bond may be redeemed on
November / 1928, or any interest
payment date thereafter. provided
thirty days before the date OF such
notice thereof shall have
been filed at the said place Of pay
ment and published in at least one
daily newspaper published in the City
of New York
In Witness Whereof, said City Of
Grants Pass has caused this bond
to be signed by its Mayor and coun-
tersigned by its Auditor and Police
Judge under its corporate seal, and
the interest coupons hereto attach
ed to be signed with the fac smile