The Birmingham age-herald., 1916-07-24

The numbers of the above bonds are inclusive Said bonds shall be issued to pay for the unpaid part of the cost of the said improvements respectively The said bonds shall be dated August 1, 1916 and shall bear interest at the rate of 51a per centum per annum, payable semi annually at the Hanover National bank in New York city, on the first days of February and August in each year, pro- vided, however, that the bonds of each of said series shall be redeemable by the city of Birmingham in numerical order before maturity in the following manner:
 One bond and such additional number of bonds of each series, as together with said bond shall not exceed in the aggre- gate one-fifth part of such series on the first day of August, 1918, and similar number of bonds on the first day of August of each year thereafter by pay ing to the holder or holders thereof, as a bonus, sum equal to one-half of the annual interest on the bonds redeemed. notice of redemption to be given as pre- scribed in the form of bond hereinafter provided
 Sec. 2. The said bonds shall be issued under the corporate seal of the city of Birmingham, and both bonds and coupons shall be signed by the president of the commission of the city of Birmingham, Ala. and the city comptroller, the said city comptroller being OK officio treasurer of the city of Birmingham, but the sig natures upon the said coupons shall be by the Autographed or engraved fac- simle signatures of the said president and comptroller, which facsimile sig natures are hereby adopted as a suffi- cient and authentic execution of said coupons That provision shall be and is hereby made for the registration of the said bonds in the name of the owner or holder thereof, and the said comptroller is hereby authorized and empowered to register the said bonds in the name of the owner, both as to principal and interest, or only as to principal, in the manner and form hereinafter prescribed. The form of the said bonds shall be substan- italy as follows:
 UNITED STATES OF AMERICA, STATE
 OF ALABAMA. CITY OF BIRMING-
 HAM
 CITY PUBLIC IMPROVEMENT COLE
 BOND.
 SERIES. .......
 The city of Birmingham, in the state of Alabama, for value received, hereby promises to pay to the bearer the sum of $500 on the 1st day of August, 1926. with interest thereon, at the rate of 51a per centum per annum, payable semi-annualiy on the 1st days of February and August III edcn year, Ol lHc uIIcilucT Ol tI6 To- spective interest coupons hereto attached as they severally mature, both principal and interest being payable in gold coin of the United States of the present stand ard of weight and fineness, at the office of the Hanover National bank in the city P of New York, N. Y.
 This bond can be registered, the regis tration to be certified hereon by the city comptroller and Is subject to successive registrations or transfers at the option of the holder. The coupons may be sep arated from this bond and surrendered to the city comptroller for cancellation, ir which case the interest will be paid to the registered holder or order.
 This bond is one of series of bonds of like date, denomination and tenor az. gregating ...................... dollars, and numbered consecutively from one to ...... inclusive The city of Birmingham re- serves the right to redeem said series including this bond. in numerical order, before maturity, in the following man. ner:
 One bond of said series and such addi- tional number of bonds as. together witf said bond, shall not exceed in the aggre- gate one-ffth part of such series, or the 1st day of August, 1918, and a similar number of bonds on the 1st day of Au- gust in each year thereafter. by paying to the holder or holders thereof as . bonus a sum equal to one-half the annual interest on the bonds redeemed. and the