The river press. [volume] (Fort Benton, Mont.) 1880-current, 1914-07-22
Ordinance No. SO

Benton, Montana. for the purpose If
car>trUt:ias, purchasing or Obtaininy
al electric ish, plant for the city and
nroyiaiue a method OF taxation for
the payment II ame
Re ii ordained by the City Council
OF the CIT, Of FOR: Benton. Montana:
Sact,oy /. The qualified electors of
the City ot Fort Benton. Montana, hay
ms at an election called for that Dur.
nose. decided to sell seventeen thous-
ana dollars tSl- 100000 of the bonds
Of said city for the purpose of Great
ine Il fund with which to construct.
purchase or obtain al electric light
plant for the city, the denomination
OF SAID bonds is hereby declared to
he in the sun OF FIVE hundred dollars
$500 90 each.
Section .. The form Of said bonds
is hereby declared to be as follows:
United States of America. State of
Montana. Number --,. $4,000
City ot Fort Renton, City Electric
Light Plant Fund,
Know all men by these presents.
that the City Of Fort Benton. in the
county OF Chouteau and state OF Mon
taua, Acknowledges itself to owe. II
for value received hereby promises to
pa to bearer the sum CT Five II
a-aa dollars on July LIST. 1884. or at
ANY time before said date on or after
Iuly 1St. 1925. at the option of said
city. together with interest on said
1900 g---- 49, 11.- ln-,Nf until mold
at the rate of five and one-half per
cantunl, per annuIn payable seminar
ually on the first day Of January and
July in each year, upon the presenta-
ton and surrender Of the. interest
coupons hereto attached. as they sew
orally become due.
Both principal and interest payable
i'll lawful money Of the United States
Of America. al the Office Of the City
Treasurer Of Fort Benton, in Fort
Benton. Montana. or. at the option OF
the purchaser hereof. and upon writ
ten notice TO said Treasurer. in New
York City. New York. at such bank
said City Treasurer, and for the
prompt payment of this bond, with
interest as aforesaid, at maturity, the
full faith. credit and resources of said
City of Fort Benton are hereby ire
yocably pledged.
This bond is issued by said City of
Fort Benton for the purpose of pro-
vio;ng funds with which to construct,
purchase or obtain an electric light
plant for said city, and this bond is
issued in accordance with the cleo
ton held in said city to determine
whether the bonds OF said city in the
sum of Seventeen Thousand dollars
should be sold for the purpose of Gre
atirg said fund. which said election
was determined in favor of the sale
CT said bonds and is issued pursuant
to and in full compliance with the
PROVISIONS of the laws of the State Of
Montana.
And it is hereby certified and recit.
ed, that all acts, conditions and things
required by the Constitution and
Laws of the State of Montana to be
done precedent to and in the issuance
OF this bond, have been properly done,
happened and been performed in reg.
ular ond due form and time, as re.
CURED by law. and that the total in.
%debtedness of said City of Fort Ben
ton. including this bond, does not eX'
iced any Constitutional or Statutory
limitation.
In witness whereof, the said City
of Fort Benton has caused it's cOrpOr'
ave seal to be hereto affixed and this
bono to be signed by it's Mayor and
it's City Clerk, and the coupons there.
of in photographic Or engraved fac
smile of the signatures OF said May.
or and City Clerk, which Autograph
or engraving is hereby authorized,
and the date of this bond to be regis.
tered by said City Clerk at Fort Ben
ton, Montana, the seventeenth day of
August, 1914.
F.. E. STRANAHAN. City Mayor,
Attest, John f. Murphy, City Clerk
Section 3. That there is hereby
created a fund to be known as the
Electric Light Plant Bonds Sinking
Fund.
Section 4. That there shall be lev.
led each year and paid into said fund,
a sufficient tax for the purpose of
paying the interest on said bonds and
one-twentieth of the principal there.
Of, or such portion thereof as may be
necessary to make up a deficiency
after applying the annual net earnings
of said plant to such payments.
Section 5. All ordinances and parts
of ordinances in conflict with this or
dinance are hereby repealed.
Passed by the City Council and ap'
proved by the Mayor this fifteenth
day of July, 1914.
+. f. STRANAHAN, City Mayor
Attest: John +. Murphy, City Clerk,