The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1917-07-12
ORDINANCE No. e7s

AN ORDINANCE DEFINING THE
PROCEDURE MING
STREET IMPROVEMENT BONDS
or THE CITY OF ARDMORE, Ok
LAHO8IA. PRESCRIBING THE
PORN or SUCH BONDS AND IN
TEREST COUPONS. AND THE
DUTY or MAYOR. THE CITY
CLERK. AND THE CITY TREAS
URER THEREIN
BE IT ORDAINED BY THE BOARD
OF COMMISSIONERS OF THE CITY
OF ARDMORE. OKLAHOMA
Section /. All street improvements
done performed and constructed in the
City Of Ardmore. Oklahoma, under the
authority and b. virtue Of Section One
Oi0f Article Eleven tlu Of the charter CT
the City Of Ardmore. Oklahoma, adopt
ei by the qualified voters OF said city
a. special election held on November
II. 1905. and approved by the governor
on January Z. 1909. and remaining IN
miI. shall be paid for By and with
street Improvement bonds. issued by the
c.ty Of Arimore, Oklahoma, as herein
HH.Ia Aa'H aA-HAAAa1A A-aa EANl'Ha
benefited by such Improvements; pro-
vfiei. however. that the Board Of Com
riissl1r-rs 0f the city Of Arimore. Ok
lah0ma. may. by resolution approved
by the mayor. make sale Of such bonds.
at not less than par. and with the pro-
ceeis thereof pay Tor such street i'm
provements.
Section Street Improvement bonds
of The City ~ Arim1re Oklahoma. shall
he basel upon q special assessment lev
lsi against the lots. tracts and parcels
cf land % such street Improvement dis
rri-t b=nef,ei thereby. and shall bels
the number Of such street improvement
district. ana shall De in denominations
o- not less than fifty dollars $4,000 and
u1t -1-e than fve hunsrei dollars
$500 1fl Each bond of every street
Der -5gemeat district shall De number
ei c1usecuuveiy beginning with one
-. Each bond shall be payable 20 bear
eraai shall bear interest at the rate %.
SIX per cent pe- annum payable Ar
ruI.y. and shall BE- due and payable
nn ~ before ten wears from the date OF
srch bond. az the fiscal agency Of the
state ~ Oklahoma in the City % Neg
Tj-s New York provided. however
th1t if ans time during the life OF SAID
h1rf. tla state 0f Oklsh0-ns shall hay.
no fiscal agent in ssii city Of New YorS
then and in that event. said bon 5
shall De- payable st the office Of the c.
treasurer Of the City Of Arimore. a
Ardnors. Oklahoma
s.cu1- O. The interest on all stree
iuurovement bonds of the City o. Arr
more. Oklahoma. sAau be Tepresentei
byc7urors. and shan be attached 20 sal
boyd The first coupon shall BE- for al
mount calcuiatsi upon the face. OF IA
b1hI 20 six per cent per sannum. bu
fos The time from the date Of said bon
% he first day Of October. follOwinl
al other coupons shall be for III
srnsunt Of six per cent OF the amour
OF said bond. except the last coupol
which shan be for an amount al III
rate q six per cant per annum fror
October l. next preceding the maturit
OF saii bond 70 the maturity Of sal
bonf. The coupons on each street IN
p-ovement bond shall be numbered col
secutirely beginning with number on
section L All street improvement
bonds o. the City % Arinore, Okiah
ma shau BE- signed by the mayor. a
tested D. the city clerk. ana impress
with the seal of the City OF Ardmor
Oklahoma. prOyided. however. the s;
natures Of the mayor and city clerk. a.
the impress OF the seal Of the City
Arimore. Oklahoma, may be lithograp
II on the coupons
Section :. Every street improyemei
boai of the City OF ArdmOre. Oklahom
shall show upon its face that all q
acts. conditions and things necessary
b. done 10 secure the prompt payrnel
Of said bonds and interest will be don
ana that the faith. credit revenue al
property OF the street Improvement d
trict ~ assessed for the payment
irresocab,y pledged for the carrying o.
Of each and every stipulation there
contained. and that said bond and
terest l. payable only from such speci
assessments and shall in no case ;
come a general obligation OF the CT
Of Arim0re Oklahoma
SECTION 6. Each street improveme
b1li Of the City OF Ardmore. oklahonl
shall be Ia form, and shall contain
cit.b in substance as follows.
UNITED STATES OF AMERICA
STATE OF OKLAHOMA
CITY OF ARDMORE.
SO u -
STREET IMPROVEMENT BOND
SERIES Mo-.
Know AL Men BY These Present
That the City OF ArdmOre. Oklahom
a feIs Organized municipal corporate
-. - nkIa Nnrr