Gilpin observer., 1914-02-19
AN ORDINANCE.
Submitting the Question of Fund
ing the Floating Debt of the


eral Assembly of the state of Colo
rado, Approved April 9Th, A. d. 1913
entitled An Act to Amend an Act
entitled An Act to Incorporate the
City OF Central, Approved March II,
A. D. 1854, so as to authorize the
funding of $5O,OOO.OO of tie floating
debt OF said City of Central, and to
provide for the payment of the prin-
cfpal and interest thereon" The
City OF Central. in Gilpin County,
Colorado, was authorized to issue the
coupon bonds of said City in amount
not to exceed the sum Of fifty thous-
and dollars, for the purpose of fund
ing the floating Indebtedness of said
City; no bond to be of denomina-
ton OF less than one hundred dol
lars, and if for greater sum, then,
for some multiple of said sum; pay
able at the pleasure of said City at
any time after ten years after their
date, and payable absolutely fifteen
years after their date, to draw in
terest at rate not to exceed five
per cent per annum from the date of
their delivery; the interest payable
semi-annually, on the first days of
June and December of each year,
upon the presentation of the proper
coupons therefor; the corporate au-
thorities of said City to prescribe the
form of said bonds and coupons; and
provided that the said bonds shall
not be issued or authorized until the
question of issuing the same shall
have been submitted to a vote of
such qualified electors Of said City
OF Central, as shall, in the year next
preceding have paid a property tax
therein; and majority of those vot-
ing on the question by ballot deposit
ed in a box especially provided for
that purpose. shall have voted in
favor of issuing the said bonds, and
further provided that such vote may
be taken at any General Election for
City Officers, or may be at spec
ial election called for that purpose,
ten days public notice shall be CIV
en- of such election; Therefore;
BE it Ordained by the City Coun-
Gil Of the City of Central;
Section 1. That the question of
issuing bonds by said City of Central.
to the amount of Fifty thousand dol
lars. for the purpose of funding the
floating debt of said City. represent
ed by the warrants of said city, issu
ed for the Indebtedness of said City,
now outstanding, beginning with the
oldest of said warrants, then those
following consecutively, to the said
amount including the accrued inter-
est thereon, to the date of the issu-
ance and delivery of said bonds, and
to provide for the payment of the
principal and interest thereon; no
bond to be of a less denomination
than one hundred dollars. and if for
a greater sum, then for some multi
pie of that sum; payable at the pleas
ure of the said City. at any time af-
ter ten years after their date and
payable absolutely fifteen years after
their date, to draw interest at the
rate of not to exceed five per cent
delivery. the interest to be payable
semi-annually on the first days of
June and December of each year; the
City Authorities of the said City to
prescribe the form of said bonds and
coupons.
Be and the same is hereby sub
mitted to the vote of the qualified
electors of the said City of Central, at
the General Election to be held in
said City on Tuesday, the seventh
day of April, A. D. 1914, and the
Mayor of said City is hereby authoriz
ed and instructed to give ten days
public notice of the said election.
Section 2. That no elector of the
said City, shall vote on said ques-
tion. unless he shall. in the year
next preceding. have paid property
tax therein, and all ballots cast on
said question shall be deposited in a
ballot box especially provided for
that purpose.
Section 3. The voting places shall
be the same as. are used for said
General City Election for City Off
GERS.
Section I. That each qualified
elector voting at said election desir-
Gus Of voting for or against said
proposition shall vote by ballot. on
which shall be printed or written the
words For Funding the floating debt
of said City and issuing bonds. or
Against funding the floating debt
of said City and issuing bonds.
Section 5. This Ordinance shall
take affaCt and ha In force from and