Cresco plain dealer. (Cresco, Howard County, Iowa) 1913-1945, 1918-07-26

exceeding 5000, duly organ
lied and existing under and by virtue
of the Laws and Constitution of the
State of Iowa, and in particular Chap
ter 2 of Title v of the Code of Iowa;
and
Whereas, Said City heretofore, pur-
suant to and in strict compliance with
all laws applicable to said City and
in particular the provisions Of Sec
tons ZIG a ct seq of Chapter of tt
tie V of the Code of Iowa, and all laws
amendatory thereof, or substantive
therefor or additional or supplement
tary thereto, lawfully ordered and
contracted for equipment for the Fire
Department of said City, the cost
thereof to be paid to the amount of
Six Thousand Dollars ($600O) from
the Fire Fund Tax to be levied on all
the property within said City, and it
is now advisable to make definite
provisions relative to payment for
said Fire Equipment, such provisions
having not yet been made; and
Whereas, Other than the contract
for. the aforesaid Fire Equipment,
said City has at no time heretofore
contracted or incurred any obliga-
ton payable from the taxes authorized
by Sections ZIG a ct seq Of the Sup
plement to the Code of Iowa, 1913, as
amended, and has at no time done
anything to prevent the collection and
application of such taxes (either for
the current year or for any future
year, as hereinafter provided; and
said taxes are entirely free for ap-
plication as provided in this Ordi-,
nance; it is therefore
ORDAINED, BY the City Council of
the City of Cresco, Iowa:
Section l. That-in pursuance of
Section ZIG a ct seq of the Supple
ment to the Code, 1913, as amended
there shall be and there is hereby
levied, and there shall be assessed
and collected, a direct tax of one and
one-half (1k) mills on the dollar up
on all the taxable property within
said City for the year 1918, for col
lection during the year 1919 (and all
action already taken by the Council
to that end is hereby reaffirmed) and
a direct annual tax of one and one
half (1k) mills on the dollar upon
all the taxable property within said
City for the year 1919 for collection
during the year 1920, and q direct
annual tax of one and one-half (1k)
mills on the dollar upon all taxable
property within said City for each Of
the eight (S) next succeeding consec-
utive years beginning with the levies
Of the year 1920 for collection during
the year 1921, and ending with the
levies of the year 1927 for collection
the year 1929.
Section 2. Said taxes shall be COL
lected each year in the same time
and manner, as with, and in addition
to all other taxes in and for said
City, and when so collected shall be
converted into q fund to be known
as the Fire Equipment Fund, which
is hereby pledged for and shall be
used only for the payment Of the
principal and interest Of the bonds
authorized to be issued;
and in said fund thus pledged there
shall be included annually all sums
which may be legally included under
the apportionment of millage tax
provided for by Section 1 of Chapter
6 Of the Laws Of the 34th Gen. As
sembly of Iowa.
Section 3. In anticipation of the
collection of the aforesaid taxes there
are hereby authorized to be issued
Twelve (12) negotiable Fire Fund
Bonds of said City, numbered con-
secutively from One Q) to Twelve
(12). both numbers inclusive, and in
the denomination of $500 each; said
bonds shall be dated the First day of
July, 1918, and shall bear interest
from and after the date thereof un-
til paid at the rate of Six per centum
&c 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
lawful money of the United States Of
America, at the Banking House of
Geo. M. Bechtel & Company, in the
City Of Davenport, State of Iowa:
Said bonds shall become due and
payable in their numerical order az
follows:
Bond No. $500, on the First day
of November, 1919;
Bond No. $500, on the First day
of November. 1920: