The Washburn times. [volume] (Washburn, Wis.) 1896-1976, 1917-11-22


sand (SlS,eCOl Dollars for the Pur-
pose o. Paying tie Cost Of City'S
Share Of Certain Street improvements
in said City.
VIII sREAS, it is deemed neces-
sary ty the Common Council of the
city of Washburn, to provide for the
paving of West Bayfield, street in
said city; and
WHEREAS, the Common Council
has adopted plans for said improve
nent and has determined that por-
ton of the cost of the same shall be
,prne by the city at large; and
WHEREAS, the amount of the
City's share of the cost of said i'm
provemeut is SIS, 1000, and in order
to provide for. the payment of the
same, it is necessary that bonds of
the city be issued;
NOW, THEREFORE, The Com
mon Council of the City. of Wash
burn. Wisconsin, do ordain as
follows:
Section L: That for the purpose
of providing funds to pay the city's
portion of the cost of the construct
ion of said street improvement, there
shall be, and there are hereby
authorized to be issued negotiable
coupon bonds of the city of Washburn
in the aggregate amount of eighteen
thousand dollars ($lS, ooo.) Said
bonds shall be known and described
as Street improvement Bonds,
shall be dated November LIST, 1917,
and shall consist of thirty-six (36)
bonds. OF Five Hundred Dollars
($50O) each, numbered one CD to
thirty-six (36) both inclusive, and
shall become due and payable as
follows: $1,000 of said bonds, num-
bers one (l) and two (2), on No
vember lst, 1919, and $1,000 of said
bonds of the next succeeding num-
bers on November LIST, of each year
thereafter, to and including the year
1886. Said bonds shall bear interest
at the rate of five per centum { 5 per
cent? per annum, payable semi.annu-
ally on the First day of May and
First day of November of each year,
which interest to date of maturity of
the bonds shall be evidenced by
proper coupons attached to each of
said bonds, and both principal and
shall'b made payable at the
& Commercial National
Bank in the City of Chicago, Illinois.
Section Q: Said bonds shall be
signed by the Mayor and counter
signed by the City Clerk and sealed
with the corporate seal of said City,
and the coupons thereto attached,
shall be executed by the engraved
facsimile signature of said officers,
and said bonds shall then be delivered
to the City Treasurer to be by him
delivered to the purchasers thereof
on payment of the purchase price
therefor. Said bonds and coupons,
shall be in substantial
ly the following forms:
(FORM OF BOND)
United States of America
State of Wisconsin
County iof Bayfield,
City of Washburn
Street Improvement Bond
No. ...... S......
Know all men by these presents,
That the City of Washburn, in the
County of Bayfield,, State of Wiscon-
sin, acknowledges itself indebted and
for value received, hereby promises
to paw to bearer on the First day of
November, A. D. 49,, the princi-
pal sum of Five Hundred Dollars
(S5OO.0O,) together with interest
thereon from the date hereof until
paid at the rate of five per centum
6 per cent? per annum. payable
semi-annually on the First day of
May and November of each year,
upon presentation aud surrender of
heNannexed interest coupons "a they
severally become due; both principal
and interest payable in lawful money
Of the United States of America at
the Continental and Commercial
National Bank in the City ofChicago,
Illinois.
This Bond is issued by the Com
mon Council of the City of Wash