Ladysmith news-budget. [volume] (Ladysmith, Rusk County, Wis.) 1907-1927, 1915-05-21
PROPOSED ORDINANCE

IAN ORDINANCE AUTHORIZING
THE ISSUE OF THE SEWER Elk
TENSION BONDS OF THE CITY
OF LADYSMITH, WISCONSIN, TO
THE AMOUNT OF $4,000, AND
PROVIDING FOR THE PAYMENT
| THEREOF.
| The Council of the city of Lady
smith, DOES ORDAIN AS FOL-
Lows:
Section 1. That for the purpose
Of improving and extending the
sewer system in and for the city of
Ladysmith, Wisconsin,, there are
hereby authorized to be issued the
Sewer Extension Bonds of the city
of Ladysmith, to the amount of Ten
Thousand Dollars 1O,O00O0) consist
| ing of ten bonds of One Thousand
Dollars each ($1, 0O0.0O), which said
| bonds shall be dated the LIST day of
June, 1915, and bear interest evil
denced by coupons, at the rate of
| 5 per cent per annum, payable semi
annually. Both principal and inter
| est of said bonds shall be made pay
able at the office of the City Treas
| urer of the city of Ladysmith, Wis
consin. One of said bonds shall be-
come due on the LIST day of June
December in each of the years, 1924
to 1888, both inclusive
Section 2. The bonds hereby auth
orized shall be in substantially the
following form:
No. UNITED STATES OF
AMERICA, STATE OF WISCONSIN,
CITY OF LADYSMITH, SEWER Elk
TENSION BONDS, One thousand
dollars. 100000.
KNOW ALL MEN BY THESE
PRESENTS That the city of Lady
smith in the county of Rusk, and
state of Wisconsin, acknowledges to
owe and for value received, hereby
promises to pay to bearer One Thou
sand dollars, ($1,000.00), lawful mon
ey of the United States of America,
On the first day of June 49,. with
interest thereon from the date here
of at the rate of five 90 per centum
per annum, payable semi-annually on
the first day Of June and December
each year, on presentation and sur
render of the annexed interest cou-
pons as they severally become due.
Both principal and interest of this
bond are hereby made payable at
the office of the Treasurer of the
city of Ladysmith, Wisconsin.
This bond is one of a series of
like tenor, except maturity, issued
for the purpose Of extending and
improving the sewer system in and
for the city of Ladysmith, under the
authority of Section 925-133, of the
Statutes of Wisconsin for the year
1918, as amended, and of an ordi-
nance duly passed by the council of
said city.
1t is hereby certified and recited
that all acts, conditions and things
required to be done precedent to and
in the issuing of this Bond have
been done, happened and been per-
formed in regular and due form as
required by law; that direct an
nual tax has been duly levied upon
all the taxable property in the city
of Ladysmith, Wisconsin, sufficient
to pay the principal and interest |
of this Bond as they severally be- |
come due; and that the total indebt- |
edness Of said city, including this |
Bond does not exceed the statutory |
or constitutional limitations.
IN TESTIMONY WHEREOF the
council of the city of Ladysmith, |
Wisconsin, has caused this Bond to
be signed by the Mayor, attested by
the City Clerk with the corporate |
seal hereto affixed, and has caused |
the annexed interest coupons to be
executed with the fac-simile sigma
lures of said officers this first day
of June, 1915.