The Beaver herald. [volume] (Beaver, O.T. [Okla.]) 1895-1923, 1916-11-16
ouDINANcn No. a..


ORDINANCE NO. 2t-A
An ordinance relating to the calling
aud holding Of an election in the town
ot Beaver, Oklahoma. for the purpose
of submitting to the qualified property
taxpaying voters of said town the ques.
tion of the issuance of the bonds of
said town In the sum of 100000 for
the purpose of raising funds with
which To- extend and equip the present
electric light plant of said town, now
owned ana controlled exclusively by
said town, said extension and equip-
ment TO be likewise owned and con,
trolled exclusively by said town, ana
also Tor the purpose OF submitting to
the qual llhed property taxpaying voters
of said town. the question OF the issu-
ance OF bonds of said town in the sum
Of Si1O00.0O, for tho purpose OF raising
funds with which TO extend and equip
the present waterworks system of said
town. now owned and controlled ex-
clusively by said town, said extension
and eauipment TO be likewise owned
ana controlled exclusively by said
town: and levy and collect an annual
tax upon all the taxable property in
said town. sufficient to pay the interest
on and the principal OF said bonds. and
fixing the necessary details In the rnat-
ter and declaring an emergency.
Whereas, IL Is deemed advisable and
construct and equip extensions to its
Electric Light Plant. the cost OF which
Is estimated at 100000; and
Whereas. Il tx deemed advisable and
construct and equip extensions to its
Waterworks System, the cost of which
is estimated at Sl7.O00o0; and
Whereas, there are no funds in tho
town treasury available for said pur-
poses. aud power Is granted said town
by the Constitution aud Laws of Okla.
homa for the Issuance OF bonds for
said purposes, provided the samo Is au-
thorized by the qualified property tax
paying electors OF said town at an eiec-
ton held for said purposes; now. there's
fore
he Il Ordained by the Board OF Trus.
tees OF the Incorporated Town of Beav-
er. Heavier County. Oklahoma:
Section I. That the President of the
Board OF Trustees of the Town of Beav-
er. Oklahoma. be and he Is hereby
authorized and directed to call a spe-
cial election to be held in said town on
tho nth day OF December. 1916. for the
pa pose of submitting to the qualified
property taxpaying electors of said
town. the following propositions;
PRoPosITIoN NO. /
shall the Town OF Beaver, Beaver
County. Oklahoma. incur an indebted-
ness by issuing its negotiable coupon
bonds In the aggregate principal sum
of 100000. to provide funds for tho
purpose of constructing and equipping
extensions to it's Electric Light Plant
now owned and controlled exclusively
by said town. said extensions ana
equipment TO ,be likewise owned and
controlled exclusively by said towns
and to levy and collect an annual tay
in addition to all other taxes upon all
the taxable property in said town, sut-
| ficient to pay the interest on said bonds
as II fails due. and also to constitute a
sinking fund for the payment of the
principal thereof when due. said bonds
to bear interest at the rate OF six per
cent per annum, payable semi-annuaiiy
and to become due within twenty Ave
years from their dateg''
PROPOSITION NO. 2
shall the Town of Beaver, Beaver
| County. Oklahoma. incur an indebted
ness by issuing it's negotiable coupon
bonds IN the aggregate principal sum
Of si7,o0o.oo to proxide funds for tho
| extensions to it's Waterworks System
now owned and controlled exclusively
| by said town, said extensions and
| equipment to be likewise ownod and
| controlled exclusively by said town.
and to levy and collect an annual tax In
/ addition to all other taxes upon all the
taxable property In said town, sufficient
to pay the interest on said bonds as II
| falls due. and also to constitute a sink
| ing fund for the payment Of the prin-
aa fssrs9f AZ Rfs lhs fs " six per- cent?
| per annum, payable semi-annually and
| to become due within twenty-five years
from their date?"
Section 2. That such call for spe-
cial election shall be made by procia-
nation signed by the President of ths
Board OF Trustees, attested by the
Town Clerk with the corporate seal of
said town attached, and shall set forth
the propositions to be voted upon and
of the polling places, the hours of op-
ening and closing the polls and the
| names ofthe officers who shall conduct
the election. The returns of said cleo
tion E-all oe made and the results
canvassed as In such cases provided by
law.
Section 3, That for the preservation
of the public health, peace and safety,
an emergency is hereby declared to ex-
list, by reason whereof this Ordinance
shall be in fu.i force and effect immedi-
n(t uuA n nd
approval.
Passed and approved this Sth lay OF
November. 1916.
r. III. LOoFBOURROw,
President, Board of Trustees.
Attest: CLAUDE T. SMITH.
(SeaD Town Clerk.