The Glasgow courier. [volume] (Glasgow, Mont.) 1913-current, 1915-07-23

"JO. sou C.1y " 0AAeXOWs or
P. E. KENT.
Attest; . Mayor.
- City Clerk.
ORDINANCE NO. ISL
AN ORDINANCE CALLING AND
AUTHORIZING THE HOLDING OF
A SPECIAL ELECTION WITHIN
AND FOR THE CITY OF CLAS.
COW, MONTANA, ON MONDAY
THE FOURTH DAY OF OCTOBER
1915, FOR THE PURPOSE OF AS.
OBTAINING THE WILL OF THE
QUALIFIED ELECTORS OF SAID
CITY OF GLASGOW. AS TO WIFE.
THEIR OR NOT THE CITY OF
GLASGOW SHALL CONTRACT AN
INDEBTEDNESS IN THE SUM OF
EIGHTEEN THOUSAND DOLLARS
ISIS, 1000 0) AND ISSUE BONDS OF
SAID CITY IN SAID SUM FOR THE
PURPOSE OF RAISING FUNDS 70
ENLARGE AND IMPROVE THE
ELECTRIC LIGHT PLANT OF SAID
CITY OF GLASGOW:
WHEREAS, The Mayor and Council
of the City of Glasgow find and deem
it necessary to enlarge and improve
the electric light plant of said CITY
of Glasgow.
AND WHEREAS, The present FL.
ectric Light Plant is Inadequate to
supply the electricity needed bv the
consumers in the said city of Glasgow
for power and lighting purposes.
AND WHEREAS, 1t has been deter
mined by the said Mayor and said
Council that to obtain the funds re.
quired for the purposes aforesaid it
is necessary to incur an indebtedness
for and on behalf of said city in the
sum of Eighteen Thousand Dollars
($18,O00.0 O); that the total assessed
valuation of the taxable property OF
said city of Glasgow as ascertained
by the last assessment for state and
county taxes is the sum of Nine Hun
dred and thirty-five thousand five hun
dred and fourteen Dollars 1895, 514) ;
THAT said city of Glasgow is indebt-
ed at this time in the sum of SO, 900. 90
incurred for the purpose of acquiring
and constructing an Electric Light
Plant for said city of Glasgow; and
in the sum of $4,000 incurred for the
purpose of securing and constructing
a water plant, water system and water
supply for said city of Glasgow; and
that said indebtedness in the sum of
$5O, 900 90, incurred as aforesaid for
the purpose of securing and construct
ing a water plant, water system and
water supply for said city of Glas-
gov, is wholly within the ten per
cent limit over and above the three
per cent limit as prescribed by subdi-
vision Ga Of section $3.50 of the re-
vised codes of Montana; and that no
part of said Indebtedness in the sum
of $50,000.00, incurred as aforesaid
for the purpose of securing and con-
structing a water plant, water system
and water supply for the city of Glas-
gov. is within or constitutes any part
of the three per cent limit of indebt-
edness mentioned in subdivision Ga of
section 3259 of the revised codes of
Montana; and that said indebtedness
in the sum of $50, 100000, incurred for
the purpose of securing and construct
ing a water plant, water system and
water supply for said city of Glasgow,
and no part thereof in any way effects
the said three per cent limit of indebt-
edness; and that the foregoing con
stitutes all of the Indebtedness of the
said city of Glasgow at this time: and
that the aggregate of said indebted
ness and proposed Indebtedness in the
sum of Eighteen Thousand Dollars
($18,O0O.) necessary to enlarge and
improve said Electric Light Plant is
less than thirteen per cent of the as
sessed valuation above mentioned: and
that the now existing indebtedness of
said city of Glasgow and said propos-
ed Indebtedness in the sum of Eight
cen Thousand Dollars ISIS yO00.) neces-
sary to enlarge and improve said Elec-
trio Light Plant is not in excess in the
aggregate, exclusive of said indebted
ness incurred for the purpose Of Sc
curing and constructing a water plant.
water system and water supply FOR
SAID CITY OF GLASGOW. of the
three per cent limit of Indebtedness
prescribed by section $3.50 of tine re-
vised codes of Montana.
AND WHEREAS. to procure the
said sum of Eighteen Thousand Dol
lars 100000 for the purpose af-
oresaid, it is necessary to issue and
sell bonds of said city of Glasgow
in that amount in denominations of
One Hundred Dollars ($1OO) each or
multiples thereof payable in not to
exceed twenty years from the issu-
ance thereof and redeemable in such
time and manner a may be provided
for Nv. ordinance to be hereafter pass
ed and approved, prescribing their is
suance and the form thereof, and to
bear interest at a rate not to exceed
six per cent per annun, payable semi
annually,