The Arvada enterprise., 1915-09-30

| Town Treasurer.
Section 5. That when said bonds
have been duly executed as aforesaid:
the entire amount or so many thereof
as may be necessary to raise tunuS tof
the extension of said waterworks sNs-
tenn. shall be delivered to the purchaS-
er thereof. and said bonds and the
funds raised thereby shall be applied
solely to the purpose aforesaid. OF the
construction of waterworks for fire
and domestic purposes within and for
said town, but the purchaser of said
bonds shall in no manner be RESPONSE
bic for the application or disposal by
said town or any of its officers of any
Of the funds derived from the sale
thereof.
Section t. The interest falling due
on said bonds April |, 1916 and october
l. 1916. shall be paid out of the general
revenue fund of the town. and for the
purpose of rcimbursing said general
fund for said two tnStallments of IN
tCrost and to meet the interest accru-
ing on the said bonds after october |.
1916. promptly and as the same ac-
crues. and FOR the purpose of creating
sinking fund for the ultimate payment
and redemption of the said bonds. there
shall be levied on all the taxable prop
crty in said town. in addition to all
other taxes. direct annual taxes In the
following amounts and at the follow
ing times, to-wit:
In the year 1916, n tax sufficient
dollars ,S60O) for interest
In each of the years 1917, 1918
and 1918, a tax sufficient to produc"
the sum of three hundred dollars
$4,000 for interest
In each of the years 1920 to 1929
inclusive. a tax sufficient to pro-
ducc the sum of eight hundred dol
lara $500 being three hundred
dollars ,S3OO) for interest and five
hundred dollars $4,000 for princi-
pal.
And said taxes. when collected. shall
be applied solely to the purpose OF the
payment of the said interest and the
principal of said bonds, respectively.
and for no other purpose whatever. un-
til the Indebtedness so contracted, un-
der this ordinance. both principal and
interest. shall have been fully paid,
satisfied and discharged, but nothing
herein contained shall be so construed
as to prevent said town from applying
any other funds that may be in the
town treasury and available for that
purpose to the payment Of said inter
st or principal, as the same respect
lively mature, and the levy or levics
herein provided for may thereupon to
that extent be diminished. and upon
the payment of the principal of any of
the bonds issued hereunder, in said
manner. or by the use of the sinking
fund herein provided for. the levy or
lcvicS herein provided for the payment
Of interest may to the extent of the
! interest on the bonds so paid be di
minished.
And the sums hcreinbefore provided
for to meet the interest on said bonds,
and to discharge the principal thereof
= hen due. are hereby appropriated for
that purpose. and said amount for each
ear shall also be included in the an
nuaI appropriation bills passed by the
board of trustees Of said town in each
year respectively.
Section 5. 1t shall he the duty of
the board of trustees o said town. an
|
provided by law for levying other town
taxes. if such action shall be necessary
to "ffectuate the provisions of this or
tinanCc. to ratify and carry out the
provisions hereof with reference to the
lowing ana collection of taxes and
rhnll require the officers OF and for
r'id town to levy, extend and collect
nch taxes in the manner provided by
Nv Tor the purpose of creating n fund
| for the payment Of the principal of
| aid bonds and interest thereon, and
| such taxes. when collected, shall be
| Kept Tor and applied only to the pay
| mont of the interest and principal of
| said bonds as hcroinbcforc specified
| Section 6. All ordinances bylaws
| and regulations of the town of Arvada
| In conflict with this ordinance are here
| by repealed.
| Section Z This ordinance shall be
| and remain irrcpcnlUblc until said
bonds and the interest thereon shall
| hav" been FUZZY paid, satisfied and dis
| charged. as herein provided
Section :. This ordinance. lmmcd-
| lately on its final passage. shall be re-
| corded in the town book Of ordinances
| Kept Tor that purpose, authenticated by
| tn" signatures of the mayor and clerk
and shall he published in The Arvada
| Enterprise. newspaper published and
| ~ general circulation in said town
nd shall be in fun force and effect
| 49, fHvs after such publication
| Section .. The board Of trustees here
| %. i"'s ana declares that the extension