The Wahpeton times., 1914-09-03
ORDINANCE NO. 22

s0SSsSS. sSOs -
An Ordinance providing for the
issuance and sale of certain ne
gotiable bonds of the City of
Wahpeton, North Dakota, in the
sum of Twenty-one Thousand
Dollars 1921, ,00O.O0) for the pur-
pose of constructing Water
Works for the purpose of furn-
ishing a supply of water to the in
habitants of said city pursuant to
the vote of the legal voters Of
said City cast at a special election
held in said City on August 4th,
1914, and providing for the levy
of an annual tax to pay and dis
charge the Principal and interest
of such bonds:
said City on August 4th, 1914,
and providing for the levy of an
annual tax to pay and discharge
the Principal and interest of such
bonds:
BE 1T ORDAINED by the City
Council of the City of Wahpeton,
North Dakota,
Section (one)
The Mayor and City Auditor of
the City of Wahpeton. North Da-
kota, are hereby authorized and
empowered to execute in the name
of said city the negotiable bonds
of said City in the sum of Twenty
one Thousand Dollars 1921, 1,OO0.-
OO) payable in not more than
twenty years from the date OF the
issuance of said bonds and bear
ing interest at rate not to eX-
ceed six per cent per annum,
payable annually. the said bonds
shall be in the denominations OF
One Thousand Dollars (Si,000.-
OO) each and shall be numbered
from one (i) to twenty-one (21)
inclusive and shall have interest
coupons attached in the amount
of the annual interest thereon
and all of said bonds shall be
designated "City Water Works
Bonds" The said bonds are here.
by authorized and shall be issued
in compliance with and by virtue
of the power and authority vested
in the City Council of said City by
the legal voters of said city at a
Special Election held in and for
the said City on August 4th, 1914.
at which election the said legal
voters of said City did by ma
iority vote determine in favor OF
issuing said bonds and at which
and in which said Special Elec-
ton there were l72 votes cast in
favor of issuing said bonds and
II votes cast against the issuing
of said bonds.
Section (Two)
The Bonds authorized and de-
scribed in Section One of this
Ordinance shall be sold to the
person or persons who shall pay
the highest price therefor and
shall not be sold for less than
their par value and the money
and funds arising from such sale
as the proceeds of said bonds
shall be used for the purpose for
which the said bonds were auth
orized by the legal voters of said
city at the aforesaid election,
namely, for the purpose OF con-
structing water works for the
purpose of furnishing a supply
of water to the inhabitants OF the
said City of Wahpeton, North
Dakota.
Section (Three)
There is hereby levied upon all
of the property subject to taxa
tion in the said City of Wahpeton.
North Dakota. an annual tax OF
One Thousand Two Hundred and
sixty Dollars Isl, ,26O.00) each
year for the years 1915, 1916,
1917, 1918, 1919, 1920, 1921,
1922, 1923, 1924, 1925, 1926,
1927, 1928, 1929, 1880, 1884.
1882, 1888 andt934, respectively.
for the purpose of raising money
and funds to pay the annual in
terest on the bonds authorized
by this Ordinance as the same
shall become due and payable and
a further sum of OnA Thousand
and Fifty Dollars (Si,050.0O) is
hereby levied upon the said pro-
perty annually for each of the
said years herein specified to
create sinking fund to pay the
principal of said bonds when the
same becomes due and payable,
and the said levies of taxes here
in provided for shall be annually
certified to the County Auditor at
the same time and in the same
manner as the annual levy Of
taxes for other City purposes is
~.-l:a.I A. .o:l No,,nfx, Audit nr