The Ordway new era., 1917-03-23

Whereas. the Town of Ordway, in
the County of Crowley and State Of
Colorado, has heretofore issued and
there are now outstanding and un-
paid, its negotiable coupon bonds as
fellows:
Thirty-five hundred dollars t$35,-
OO) Town of Ordway water bonds,
dated November l, 1902, due and
payable November I. 1917, optional
November /. 1912.
Forty thousand dollars (s40,000)
Town of Ordway water bonds, dated
April 90. 1907, due and payable April
20. 1922, redeemable April 20. 1917.
Eleven thousand five hundred dol
lars ts11 .50O) Town Of Ordway wa
ter extension bonds, 1915 Series A,
dated November /, 1916, due and
payable November /, 1881, optional
any time after date
Said Indebtedness above referred
to in all aggregating the total amount
of fifty-fve thousand dollars (S55,-
Oo0l outstanding bonds due and un-
paid. and now optional, or about to
become optional for redemption; and,
Whereas. there are and will be no
funds in the treasury of said Town
available for the redemption of said
bonds, or any part thereof; and,
Whereas, by resolution duly ad-
opted on the 18th day of March. A. d.
1917, the board of trustees of the
Town of Ordway determined to issue,
in accordance with the laws of the
State of Colorado. new bonds to be
denominated Refunding Bonds. the
same to be exchanged dollar for dol
lar for the bonds to be refunded, or
to be sold at the option of the Town !;
I tl,,a l. i I
upon to be issued as aforesaid, being
the sum of fifty-five thousand dollars
($55 5,0O0); the certificate of such de-
termination having been heretofore
duly made and entered in and upon
the records of said Town as required
by law: and,
Whereas, the board of trustees has
heretofore determined that said re-
funding bonds so to be issued in the
aggregate amount of 'fifty-five thous-
and dollars t$55,000) shall be sold or
exchanged dollar for dollar, for the
bonds to be refunded, and said board
of trustees believes 1t to be their duty
to issue said refunding bonds and
cause the same to be sold or exchang-
ed for the bonds to be refunded as
aforesaid, as and in che manner pro-
vided by law;
No"' hel eloIe, Dc II oTud1Ieu. Dy
the board of trustees of the Town OF
Ordway, in the State of Colorado:
Section l.. That by virtue and In
pursuance of an act OF the General
Assembly of the State OF Colorado
| entitled: IAN Act to enable cities and
towns to refund their bonded indebt.
edness," approved April 12. 1915
and appearing as Chapter 165 of the
Session Laws of Colorado, 1915, there
| shall be issued bonds of said Town OF
Ordway, to be denominated Refund.
ing Bonds, to the amount of fifty-five
thousand dollars ($55.0OO) for the
purpose of refunding the outstanding
bonded Indebtedness Of said Town
now or soon to be optional for re.
demption.
Section 2. That the Mayor and
Town Clerk and Recorder of said
hereby authorized and directed tc
have prepared the negotiable coupon
refunding bonds of the Town in the
said aggregate amount of fifty-five
thousand dollars ($55,000.)
Section 8. That said bonds hereby
authorized shall be negotiable II
form, payable to bearer, shall beal
date the LIST day Of May, A. D. 1917
shall bear interest at the rate Of five
co per centum per annum, payable
semi-annually on the first days OF
May and November In each year;
shall consivt Of one hundred ten
i(110) bonds, numbered consecutive.
~ from one a. to one hundred ter
| (110), both inclusive, in the demon.
ination Of Five Hundred DollerI
($600) EACH. seid bonds shall M.
ture n equal annual fnsta1imente n
provided ~ law, the flrpt fnStalfmeni
leQhslstime c8 bon11 uunbered fro1
~. e7s 81 49, e ~ Ss, aassIssiys. e.