Gilpin observer., 1915-01-28
BILL TO FUND
BLACK HAWK DEBT

duced in the senate the following
bill, funding the debt of Black Hawk.
The bill has passed the senate on
third reading:
BE it enacted by the General AS
sembly OF the State of Colorado:
Section l. That an Act entitled
IAN Act to Incorporate the City OF
Black Hawk" Approved March 11th,
A. d. 1864, be and the same is here
by amended as follows: That from
and after the passage Of this act,
the City Council of the City of
and authority to levy and collect tax
es for city purposes upon all the
taxable property, real, personal and
mixed, except as hereinafter pro-
vided, within the limits of the said
City OF Black Hawk, not exceeding
one and one-half percentum per an
mum, upon the assessed value OF tie
property thereof; and may enforce
the payment thereof in any manner
that may be prescribed by ordinance.
not repugnant to the Constitution of
the United States or the Constitution
of the State of Colorado.
Section 2. That the corporate
authorities of the City of Black Hawk
any person, persons or corporation.
holding registered warrants or over
due bonds of the said City of Black
| Hawk being the Oldest. OF such war
ants of overdue bonds and issued
for the debts of said city, and those
following consecuti cely to the an oun t
including the accrued interest there
on, provided in this act, coupon
bonds of the said City of Black Hawk
in lieu thereof, to the amount equal
to the face value of such warrants or
overdue bonds and accrued interest
thereon, to the date of the issuance
and delivery of such bonds therefor.
section 3. The corporate author
shall also lave the right to sell any
of the said bonds to any person or
corporation, but none of the said
bonds shall be sold except for cash
commissions of sale; and TIE mon
eys arising from the sale of such
bonds shall be used forthwith in re-
deeming the outstanding registered
warrants or overdue bonds of said
city, described in Section | hereof,
and for no other purpose; Provided,
that no sale Of the said bonds shall
be made within thirty days after the
same are issued. during which time
any holder of outstanding warrants
or overdue bonds of the said city of
the description above mentioned may
exchange them at par with accrued
interest thereon for bonds at par, and
notice by publication in the official
newspaper of said city be made dur
ing the said thirty days, of the op-
portunity to make such exchange and
such exchange may be made after the
expiration of the said thirty days at
any time prior to the sale of such
bonds
mo officer OF the said city shall
receive any compensation or commits
sion for the sale of the said bonds
or for the handling of the money re-
ceived therefor, or for any clerical
work done in connection Herewith.
Section 4. No bond stall be of
denomination less than one hun
dred dollars, and if ,ssued for
greater amount, then fer some null
tlple of that sum. Said londs shall
draw interest at rate not exceed
ing six per centum per arnum from
the date OF their delivery said in
terest shall be made payable semi
annually On the first days of June
and December of each year, upon
presentation of the proper coupons
therefor. Said bonds and interest
coupons shall be payable at the Of
exchange and express charges to be
paid by the said city.
The principal of the said bonds
shall be payable at the pleasure of
the said city ten years after their
date, and payable absolutely twenty
years after their date; Provided, that
the whole amount Of bonds issued
under this act shall not exceed the
sum of thirty thousand dollars.
Section 5. The bonds issued as
provided in this act shall be signed
by the Mayor and attested by the
City Clerk Of said city, and shall
bear the seal of said city upon each
bond, and shall be numbered and reg
istered by the City Clerk in a book
to be kept by him for that purpose
in the order in which they are issued
each bond shall state on its face