Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1918-02-09
ORDINANCE. No.

ORDINANCE Ne. .-..''' '5'TN'
An Ordinance providing for tho issu-
ance Of Improvement Bonds In the
sum Of $4,000, and for the levying
OF taxes for the payment Of the prin-
cipal and interest thereof.
Whereas, The City OF Marshalltown.
in the County OF Marshall, State OF
Iowa, - city Of the first class, duly
Incorporated, organized, and existing
under and by virtue Of the general
laws and Constitution Of the State OF
Iowa, and has population Of more
than two thousand (2,00O): and
Whereas, In strict compliance with
the provisions Of Section $40 H ct
seq. Of the Supplemental Supplement
Of 1915 to tho Code Of Iowa. there have
been established within said City sew
eral paving districts for the purpose of
paving and improving main travelled
ways into and out Of said City; and
Whereas. Said improvements have
now been completed and it is necessary
to make provision for the payment OF
that portion Of the cost Of said I'M
provements not borne by the special
assessment levied against the lots and
tracts OF land embraced in said paving
District; and
Whereas, Said improvements will be
Of benefit to tho whole city and said
city may legally pay not more than
fifty per oentum of the total cost
Of said improvements by the levy Of
an annual tax upon the taxable prop
erty within said City, such levy not to
exceed one mill for any ono year; it is
therefore
Ordained, By the CITY Council Of the
City Of Marshalltown, Iowa,
Section 1. That there are hereby
authorized 70 be issued Twenty-four
(24) negotiable improvement Bonds Of
said City of Five Hundred Dollars
($50o) each. numbered consecutively
from one az to twenty-four (2D both
First day Of February. 1918, each bear
ing interest at the rate Of Six per GEN.
tum e per cent) per annum payable
semi annually on the First days Of
May and November In each year, such
interest to be evidenced by negotiable
coupons attached to each bond; both
principal and interest payable IN law
full money Of the United States Of
America, At tho Banking House Of Geo.
M. Bechtel q Company. In the City Of
Davenport. State Of Iowa. Said bonds
shall become due and payable IN their
numerical order as follows:
Bonds Nos. and 2, $1,000 on the
First day Of November, 1920.
Bonds Nos. 8, I and s, $1,000, on the
First day Of November. 1891.
Bonds Nos. 8, 7 and s, $780, on the
First day Of November, 1893.
Bonds Nos. 9, 10 and II, $500, on the
First day Of November, 1928.
Bonds Nos. ~. 10 and II, $500 on
the First day Of November, 1924.
Bonds Nos. 16. 1s and II. $500 on
the First DAY Of November 1928.
Bonds Nos. 10. 10 and 20, $500, on
the First day Of November 1926.
Bonds Nos. 81, %, 20 and "a $4,000,
on the First day Of November. 1897.
Section 2. The bonds hereby author
lied shall be in form and recitals sub
stantially a. follows,
Mo- (Form Of Bonds) $500
United States Of America. state Of
Iowa, County Of Marshall, City Of
Marshalltown, Improvement Bond.
Tho City Of Marshalltown, IN tho
State Of lows, for value received,
promises to pay to bearer Five Hun
bred Dollars, lawful money OF tho
United States Of America, on the First
day Of November. 49,. with interest
on said sum from the date hereof un-
til paid. 1t the rate Of Six per csntum
per annum. payable semi-annually ON
the First days Of May and November
IN each year. upon presentation and
surrender of the interest coupons
heretofore attached: both principal
and interest payable at tho Banking
House Of Geo. M. Bechtel & Company,
in the City Of Davenport State Of
Iowa.
This bond IL ono Of a series Of bonds
OF like tenor, except maturity, issued
by said City, pursuant to and in strict
compliance with the provisions and
requirements Of Section $40 het SEQ.
OF the Supplemental Supplement to the
Code Of Iowa, 1915, and in conformity
with an Ordinance duly adopted by the
Council Of said City, approved by the
Mayor, and published for the purpose
VI QdyuIl8 d pOIllOu OIL tho Cost OF
paving improvements within the city.
And it 10 hereby Certified and Re-
cited: That all acts. conditions and
things required by the laws and Con-
sAtution Of the State Of powa, to be
done. to happen, or to exist precedent
to and In tho issuance Of this bond,
have besn properly DONE happened and
existed IN regular and duo form and
time as required by law; that ade-
quate provision has been made for tho
collection Of q direct annual tax on all
the taxable property within said City
sufficient to pay the interest ON this
bond - It falls duo and tho principal
at maturity. for the prompt payment
Of which principal and interest the full
faith, credit, revenues and resources
and all the real and personal property Of
said city are hereby irrevocab1y pledged:
and that the total Indebtedness Of said
City, including this bond, does not ex-
coed the Constitutional or Statutory
limitations Of Indebtedness or taxation.
In Testimony Whereof. said City. by
its Council, has caused this bond to be
sealed with Its corporate Seal, signed
by its Mayor. and attested by its
Clerk and the coupons hereto attached
to be executed with the signatures Of
said officers at Marsha11to1yn iowa