The evening herald. (Klamath Falls, Or.) 1906-1942, 1916-12-18

HE EVENING
sad powers and build and equip q
railroad for said city.
Section 2. That for the purpose Of
BORROWING money with which to build
ana equl - railroad within and with.
out ge boundaries OF the city for the
benefit and use Of the inhabitants
,hereof, and for profit. there shalt be
ana there are hereby authorized. or.
dered and directed to be Issued and
delivered to the purchasers thereof
The Following described bonds:
coupon bonds Of the city OF Klam.
h'h fnils. klamath County, Oregon,
70 be designated RAILROAD Bonds" 10
hn amount aggregating the principal
gum OF three hundred thousand dol.
lars G3OO,000). comprised OF 300
bonds. numbered from / to 300, incIu.
siv". or the denomination OF $1,000
each. dated December /, A. ID. 1915.
due and payable December !, A. -.
| l0l6. and optional for redemption by
, said city on and after December /.
A. ID. 1926. and bearing interest from
their date until paid at not exceeding
the rate of six per centum &c per cent?
per annum, payable semi-annually, on
The first days OF June and December.
respectively. In each year, both prIn-
clpaI thereof and interest thereon pay.
able In lawful money OF the United
States Of America at the fiscal agency
OF the state OF Oregon. In the city and
! state. OF New York. U. 8. A.
Section 3. That each Of said bonds
nnh Mt t..Az
thereto attached. except as to their
number and interest rate. shall be in
substantially the following form, to.
wit:
(FOrm OF Bond)
UNITED STATES OF AMERICA
State OF Oregon County of Klamath
CITY OF KLAMATH FALLS
No.. $1,000
RAILROAD BOND
Know All Men by These Presents,
That the City Of klamath Falls,
klamath County. Oregon, acknowl-
edges Itself to owe and for value re-
ceived hereby promises to pay to the
bearer hereof the principal sum of one
thousand dollars on December /. A. u.
1865. together with interest thereon
Mt the rate OF ........ per centum per an.
mum. payable semi-annually on the
first day OF June and December. re-
spectively. in each year. evidenced by
and upon the presentation and surren.
der of the interest coupons hereto at.
tached as they severally become due,
both principal and Interest hereby
made payable In lawful money Of the
United States of America at the fiscal
agency of the State OF Oregon, in the
City and State OF New York. y. s. A.
This bond IL issued by said city for
the purpose OF borrowing money to
pay the cost OF the construction and
equipment OF railroad TO run within
and without said city for the benefit
and Ises of the inhabitants thereof
and for profit. under. by virtue Of and
In all respects in full and strict com.
pliance with the constitution and laws
Of the State OF Oregon and Subd!vi.
sion n OF Section 81 OF the Charter
OF said city and an ordinance duly
adopted by the common council there
OF prior TO the issuance of this bond.
\ II is hereby certified, recited and
warranted that said CITY has been for
MANY years past and Is now a body
polite and corporate and a municipal
corporation duly organized. existing
and operating as city under and by
virtue Of the constitution and general
laws OF the State Of Oregon.
And II is hereby further certified.
recited aRd warranted that all things.
acts and conditions required by the
constitution and laws OF the State Of
Oregon and the charter and people Of
said city to exist and to happen and
be done and performed precedent to
and In the issuance Of this bond, In
order to constitute the same the valid
and binding obligation Of said city.
do exist and have happened and been
done and performed in regular and
due form and time: that the total in
debtedness Of said city. including this
bond. does not exceed any constitu-
! tional. statutory or charter limita-
tion; and that due provision has been
made for the levy. assessment and
collection of direct annual ad valOr-
EN- tax on all of the taxable property
OF the city, In addition to all other
taxes, sufficient to cleas fund to
pcy the interest accI Iing on this bond
when and as the same becomes due
which to discharge the principal here
of at maturiay.
The faith, credit and all Of the tax
able property of said city are hereby
irrevocably pledged for the punctual
payment OF the principal and interest
OF this bond, respectively. as the same
become due and are payable as afore-
said.
This bond is redeemable at the op-
ton of said city on and after Decem.
ber /, A. d. 1926.
IN TESTIMONY WHEREOF. The
i,y of klamath Falls. klamath Conn-
ty, Oregon. by its common council.
has caused this bond to be signed by
the mayor. attested by the police
Judge and sealed with the corporate
seal of said city and the attached In.
, terest coupons to be signed with the
engraved facsimile signature OF Its
said officers, this first day OF Decem'
ber, A, d. 1916. 80,
....................-........-..'... NAoyo'"
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