The Washburn times. [volume] (Washburn, Wis.) 1896-1976, 1916-08-17

Public Works received and opened bids
submitted for the construction OF such
sewer. and,
WHEREAS. the said Board of Public
Works duly reported to the Common
Council of said City that upon the open
ing Of said bids it was found that X.
Mierswa & Sons of Ocento Falls. Wis.
were the lowest bidders for the doing of
said work and the construction of said
storm water sewer; and
WHEREAS, the Common Council
of said City of Washburn in said
State of Wisconsin did on the first
day of August, 1916, confirm said
report and did order that contract
be executed on behalf of said City
with said R. Mierswa & Sons. of
Oconto Falls, Wis. for the construc-
ton of said sewer for the sum of
Twenty-One Hundred Fifty and
5000 Dollars ($215O.52), and
WHEREA S, the said Comma
Council did at the same time deter
mine that the cost of the construction
of said sewer should be paid by said
city of Washburn at large, and
WHEREAS, it is necessary to
issue bonds of said City for the pay
ment of the cost of the construction
of said sewer; and
WHEREAS, certain street i'm
provements, which are to be paid for
by the City at large, have been duly
authorized and are now under con-
struction;
THEREFORE,, the Common Council
of the City of Washburn, Wisconsin,
do Ordain as follows:
Section L. That the City of Wash
burn issue one series of negotiable
the authority conferred upon cities by
Section 925-133 of the Statutes of Wis
cOnsin and acts amendatory thereof
and supplemental thereto; that said
bonds shall be known and described
as "Sewer and Street Improvement
Bonds of the City of Washburn, State
of Wisconsin," and to accomplish this
object the Mayor and Clerk of said
city are hereby directed to cause to be
printed bonds of said City of Wash
burn in substantially the form herein
after set forth.
Section 2. The total amount of the
bonds to be issued shall be of the
face value of Seven Thousand Dollars
($7,000.00), and the denomination
thereof shall be One Thousand Dollars
($1, 000.00).
Section 3. The first of said bonds
shall be due and payable March LIST,
1917, and one of said bonds shall be
due and payable on the first day of
March of each succeeding year, and
the place of payment of the principal
and interest shall be Bayfield, County
Bank, Washburn, Wisconsin, and the
rate of interest shall be six per cent.
60 per annum, payable semiannually
on the first day of March and Septem-
Der in each year. Each installment
of interest until maturity of said bonds
to be represented by coupons attached
to each of said bonds, each coupon
to be numbered consecutively and also
to bear the number of the bond to
which it is attached and to be subStan-
TALLY in the form hereinafter set forth,
with necessary variations as to num-
bers and dates.
Section 4. Each of said bonds shall
be consequently numbered from one
Cd to seven CD inclusive, and signed
by the Mayor and Clerk of said City
of Washburn, and sealed with the cor
porate seal of said City, and each
coupon attached thereto shall be sign
ed by the Mayor and Clerk OF said
City.
Section 5. The said bonds and the
coupons attached thereto shall be sub
stantially in the following form, save
as to necessary variations aforesaid.
(FOrm of Bond
No. $1,O0O.OO
UNITED STATES OF AMERICA
State of Wisconsin
County of Bayfield,
City of Washburn.
Sewer and Street Improvement Bond
KNOW ALL MEN BY THESE PRES
ENTS, That the City of Washburn in
the county of Bayfield,, State OF Wis
consin, acknowledges itself indebted
to and for value received promises to
pay to bearer
One Thousand Dollars
in lawful money of the United States