The Julesburg grit-advocate., 1918-12-05
ORDINANCE NO. I23

AN ORDINANCE TO CONTRACT
AN INDEBTEDNESS ON BEHALF
OF THE TOWN OF JULESBURG,
COLORADO, AND UPON THE.
CREDIT THEREOF, BY ISSUING
NEGOTIABLE COUPON BONDS OF
SAID TOWN TO THE AMOUNT OF
ONE HUNDRED THOUSAND DOL
LARS, FOR THE EXTENSION AND
IMPROVEMENT OF A SYSTEM OF
WATERWORkS FOR FIRE AND
DOMESTIC PURPOSES, PRESCkIB-
ING THE FORM OF SAID BONDS
AND PROVIDING FOR THE LEVY
ING OF TAXES TO PAY THE
PRINCIPAL THEREOF AND IN
TEREST THEREON.
WHEREAS, Under the authority
of the constitution and the laws Of
the state of Colorado, as heretofore
and now in force, and the requisite
| approving vote of majority of the
properly qualified voters of the Town
of Julcsburg, who were taxpayers un-
der the law, heretofore duly had and
taken in full compliance with al con
stitutional and statutory requirements
at \ special municipal election held
m and for said Town of Julesburg
on the 4th day of February. A. D..
1907. the Town of Julesburg had the
POWER, and the town board of trus-
tees thereof were duly authorized t
Z and did acquire in full conformity
with law a system of waterworks for
tire and domestic purposes, and sai.
Town of Julcsburr thereafter and now
owns and operates and maintains said
system of waterworks for the purpos.
Ct supplying said town ard its inhab-
itants with water for fire and domes-
tic purposes; ana
WHEREAS. BY Ordinance No. 70 OF
said Town of Julesburg, adopted and
approved on the 18th day Of Febru-
AIRY, A. ID. 1907, the Town of Jules
burg contracted an Indebtedness in
the aggregate amount of $37 100000 by
the issuance of the negotiable coupon
bonds of the town, for the purpose of
acquiring said waterworks system;
WHEREAS, In the opinion of the
Town board of trustees, it is neces-
sary to extend and enlarge the water
works system in the Town of Jules
burg, now owned and operated by said
town. the present system being mad
equate for the proper service of the
Inhabitants Of the town for fire and
domestic purposes; and
WHEREAS. It has been ascertain
ed by the board of trustees that the
extension and enlargement of said
system to meet the requirements of
the inhabitants of the town will ne
ccssitate the expenditure of One Hun
drod Thousand Dollars; and
WHEREAS. There are no funds in
the town treasury available for the
purpose Of extending and enlarging
said waterworks system, and it will be
necessary to borrow money in the sum
of One Hundred Thousand Dollars for
that purpose,
Now THEREFORE, BE IT OR
DAINED BY THE BOARD OF TRUS
TEES OF THE TOWN OF JULES
BURG, COLORADO:
Section L. That the system of wa
terworks for fire and domestic pur-
poses now owned. managed and OPP
Grated by the Town of Julesburg be
improped, enlarged and extended. so
that the town may have an adequate
supply of water for fire arid domestic
purposes in accordance with the plans
and specifications adopted or hercat-
ter to be adopted by the board Of trus-
tees of said town; and that for the
purpose of providing funds for the ex
tension and enlargement of SAID wat
erworks system as originally complet-
ed and authorized by Ordinance No.
10 of the Town of JulesbUrg, adopted
and approved on the 18th day of Feb
ruary, A. ID. 1907, the said town shall
issue its negotiable coupon bonds, in
the aggregate amount of One Hun
dred Thousand Dollars. to be desig-
mated "Julesburg Water Bonds. Ser
les of l919," consisting Of one hundred
bonds in the denomination of One
Thousand Dollars each, payable III law
full money of the United States OF
America, and bearing interest from
and after the 18th day of January, A.
d. 1919, at the rate of five and one
half per cent per annum, payable SEMI
annually on the 18th day of July and
the 18th day of January in each year,
the said bonds shall be numbered in
regular and consecutive order. com
mencing with bond numbered one a.
and shall be payable in the order of
their number on the 18th day of Jan
uary. A. d. 1884, but redcemabie at
any time after the 9Th day of Ianu-
ary, A. d. 1929. Said bonds, both
principal and interest. shall he pay
able at the office of the Town Treas
urer in Julesburg, Colorado, or at the
banking house of kountZe Brothers,
in the city of New York. U. S. A., at
the option of the holder. Said bonds
shall bear date the 18th day of Janu-
airy, A. D. 1919, and shall be signed
by the mayor, attested by the Town
Clerk under the official seal of said
town, countersigned by the Town
Treasurer, and shall be recorded in a
book to be kept by said town clerk
for that purpose. There shall be at
tached to each bond thirty coupons
numbered consecutively from one D
to thirty (30). both numbers inclusive,
each coupon representing the semi
annual installment of the interest on
each bond to which it is attached, and
securing the payment of the interest
as it accrues. and said coupons shall
bear the original or facsimile signature