Webster City freeman. [volume] (Webster City, Hamilton County, Iowa) 1884-1946, 1914-12-29
SUPERVISORS
PROCEEDINGS

.Ie cost in Mcclure drainage ditch
Visors of Hamilton county, Iowa,
find that the estimated cost of such
improvement is greater than should
be levied in one year upon the lands
benefited, and that bonds should be
issued for all that part of said i'm
provGnent not paid in cash, and
that5 bonds running seven years,
betting six per cent semi-annual in
crest and one-fifth OF the principal
each year commencing December
LIST, 1917, is hereby authorized.
Be it further resolved, by the
board of supervisors of Hamilton
county, Iowa, that there be levied in
Mcclure drainage district No. 141,
sum that will equal 20 per cent of
the principal commencing with year
1916 and six per cent annual inter-
est on the amount remaining unpaid
from year to year for the next sew
en- years hereafter.
And the county auditor is here
by authorized and instructed to
make the necessary levies from
year to year to carry out this reso-
luton.
The following resolution was pre-
sented and it was moved and sec
onded that same be adopted:
Whereas, March 5th, 1913, the
board of supervisors Of Hamilton
county, Iowa, did locate Mcclure
a drainage district No. 141 in said
county, and
Whereas, the cost and expense OF
location and cost of construction of
said drainage district has been ap-
portioned to the said lands in said
drainage district in the aggregate
sum of $9,2900O, and
Whereas, special assessments in
the aggregate amount OF $7,S53.00
have been paid in full, Except as
sessments for public roads,, and
Whereas, the board of supervis-
srs of Hamilton county, Iowa, has
heretofore determined that the esti-
mated cost of reclamation and i'm
ProYement of said district of land is
greater than should be levied and
collected in single year.
Now therefore, be it resolved by
the board of supervisors Of Hamil-
ton county, Iowa, that drainage
bonds of said county be issued in
the sum Of $1,437.OO for the benefit
Of Mcclure drainage district No.
al. Said issue shall consist of l
bond of the denomination of $237,
and bonds of the denomination of
5000 each, to be numbered consecu-
lively from l upward, dated Decem-
Der LIST, 1914, and shall mature as
follows: $237 due and payable on
December LIST, 1917; $500 due
and payable on December
LIST, 1918; $500 due and payable
On December LIST, 1919; $500 due
and payable on December LIST, 1920;
and $500 due and payable on De-
cember LIST, 1921.
Said bonds shall bear interest at
the rate of six per cent per annum,
payable semi-annually on the first
day of December and June of each
year, the several installments of in
terest to be evidenced by coupons at
tached to said bonds, and both prin
oipal and interest shall be payable
at the Office of the treasurer of said
county, in Webster City, Iowa. Said
bonds shall be signed by the chair
man of said board of supervisors
and attested by the county auditor,
with the county seal attached, and
said interest coupons shall have
printed thereon fac-simile of the
signature of said auditor. The
chairman Of said board and county
auditor are hereby authorized and
directed to execute said bonds,
therein pledging the faith Of said
county to assess, levy and collect
the taxes necessary on the lands
benefited for the prompt payment OF
both principal and interest thereof
at maturity and when executed and
registered by the treasurer of said
county, to deliver the same to the
Security Savings Bank & Trust
Company of Toledo, Ohio, upon the
compliance of said purchaser with
the terms of contract entered into
for the sale of said bonds.
Form of Bond.
UNITED STATES OF AMERICA
STATE OF IOWA,
HAMILTON COUNTY,
DRAINAGE BOND.
e. 5000.
Know all men by these presents: