The Glasgow courier. [volume] (Glasgow, Mont.) 1913-current, 1917-08-24

cent. limit, as provided by law: and.
WHEREAS, In compliance with
the laws of the State of Montana
to municipal corporations. il
is necessary for the City Council q
the CITY Of Glasgow to prescribe the
form of said bonds:
NOW. THEREFOR, BE 1T OR
DAINED by the Council of the CITY
of Glasgow, Montana:
Section 1. That the mayor and CITY
clerk of the City of GLASGOW. be. and
thew are hereby, authorized and d.
rected to prepare and execute Under
the seal of the City of Glasgow. sixty
seven (67) sewer bonds of said citv.
numbered from 1 to 81 consecutiyeiv
and both inclusive, of the denomina-
tion of One Hundred (SlOO.OO) DOL
lars each. dated the first dav Of
State Of Montana
City of Glasgow
Interest 5h per cent. per annum,
payable in gold coin December 1st and
June 1st, at the office of the City
Treasurer Of Glasgow, Montana, or at
the Kountze Bros, Bankers, New
York City.
BONDS redeemable December 1st,
1927; payable December lst, 1887.
Section 8. The City of Glasgow
hereby obligates itself, annually, in
due time, manner and season, to levy
a tax upon all taxable property in
said city sufficient to pay the interest
upon said bonds and to provide a
sinking fund for the payment of the
principal at maturity.
Section 4. That an emergency ex-
lists and this ordinance shall take eff
feet and be in full force on and after
it's passage and approval. and that
said emergency exists in this, to-wit:
That the present sewerage system of
the City Of Glasgow is inadequate for
the immediate needs Of the City of
Glasgow and it's inhabitants, and it is
necessary to commence the construc-
ton and installation thereof at the
earliest possible date in order to COM
plete the same prior to the winter sea-
son of 1917; and that such improve
ments are Immediately necessary for
the preservation of the health and
safety of the inhabitants of the City
of Glasgow.
Passed by the City Council of the
City of Glasgow and approved by the
December, 1917, and payable twenty
(2O) years thereafter, and reserving
to the said City of Glasgow the option
to pay and redeem said bonds after
ten years from the date thereof, which
said bonds to bear interest evidenced
by coupons attached thereto, at the
rate of not to exceed six per centum
per annum, to-wit: at the rate of five
and one-half (5h) per centum per
annum, payable semi-annually, and
both interest and principal of said
bonds shall be payable at the office
of the City Treasurer of the City of
Glasgow, or, at the option of the
holder, at the Kountze Bros, Bankers,
New York City, State of New York;
the bonds and coupons attached must
be signed by the mayor and the City
Clerk Of said City Of Glasgow, and
the date of issue must be registered
by the clerk; provided, that the litho-
graphic or engraved fac smile sigma
ture of the mayor and the city clerk
may be affixed to the coupon only,
when so recited in the bond.
Section 2. The bonds authorized
by this Ordinance shall be substantial
ly in the following form:
The United States of America,
State of Montana
City of Glasgow
No.~ $4,000
City of Glasgow.
Sewer 5k per cent. Gold Bond. Inter-
est Payable Semi-annually
KNOW ALI MEN BY THESE
PRESENTS: That the Cit yof Glas-
gov in the County of Valley and State
of Montana, acknowledges to owe and
is legally indebted, for value received,
and hereby promises to pay to bearer
One Hundred ($100.00) Dollars on the
first day of December, 1887, with in
terest thereon from the date hereof
at the rate of 5R per cent. per an
mum, payable semi-annually IN the
presentation and surrender of the an
nexed interest coupon as they several
ly become DUE Both interest and
principal are hereby made payable at
the office of the City Treasurer of
the City of Glasgow, in Valley County,
Montana; or, at the option of the
holder, at the Kountze Bros, Bankers,
in the city and state of New York.
The principal and interest of this
bond r hereby made payable in gold
coin of the United States, of or equal
to the present standard of weight and
fineness. The City of Glasgow reserv-
es the right and option to redeem this
bond at any time after the first day
of December, 1927, by payment Of
the principal and interest in full to
the date of redemption; provided, that
the City of Glasgow shall give not
less than thirty days notice in writing
at tho n1aco whore this hond ic nav
able of it's intention to so redeem.
THIS BOND is one of a series Of
like tender, issued for the purpose of
constructing a sewerage system for
the City Of Glasgow, to-wit: con-
structing and installing a central
sewerage pumping unit in order to
prevent sewerage from backing up into
the Easements and cellars in said city
during high water periods, under and
by virtue of the Constitution and
Laws of the State of Montana and of
an election duly called and held in the
City of Glasgow on the 9Th day of
August, 1917, and it is hereby certi-
fed and recited that all acts, condi-
tons and things required to be done
precedent to and in the issuance of
this bond have been done and per-
formed in regular and due form as
required by law, and that the total in
%debtedness of said City of Glasgow,
including this bond, does not exceed
the constitutional or statutory limita-
ton.
MY OAvn --l