The Madison daily leader. [volume] (Madison, S.D.) 1890-current, 1919-07-22
NO. 22I

O1bDlNhNSE NJ. 81.
An Ordinance authorizing the issue
of Electric Light Bonds of the
city of Madison, South Dakota. to
the amount of one hundred thous-
and dollars $500, OOO) and pro-
viding for the payment thereof.
Be it Ordained by the Board of
Commissioners of the city of Madi-
son, South Dakota:
Section l.. That for the purpose
of enlarging, extending and lettering
the electric lighting system now own
ed by the city of Madison and pur-
suant to authorization in hat behalf
by the lawful electors of said city at
an election duly called and held in
said city ON the 18th day of May,
1919, there are hereby authorized to
be issued one hundred (100) Electric
Light Bonds of one thousand dollars
10000 each, dated the first day of
July, 1919, and bearing interest evil
denced by coupons at the rate of five
CD per centum per annum, payable
semi-annually. Said bonds shall be
numbered from / to 100, shall be-
come due July /, 1899, and be pay
able at the option of the city on and
after July /, 1929. Both principal
and interest of said bonds shall be
made payable at the Lake County
National bank in the city of Madison,
state of South Dakota.
Section 2. The bonds hereby au-
thorized shall be in substantially the
following form:
No. $500. $1,000
United States of America
State of South Dakota
City of Madison
Electric Light Bond
Know All Men by These Presents.
That the city of Madison, in the
county of Lake and state of South
Dakota. acknowledges to owe and for
value received hereby promises to- pay
to bearer One Thousand Dollars
81. 000) lawful money of the United
States of America on the first day of
July, 1899. with interest thereon
from the date hereof until paid at
the rate of five (5) per centum per
annum, payable sem%i-annually on
the first day of January and of July
in each year on presentation and sur
render of the annexed interest cou-
pons as they severally become Cue,
Both principal and interest of this
bond are hereby made payable 1T the
Lake County National bank in the
city of Madison, state of South Da-
kota.
This bond is redeemable It the OPP
tion of the city of Madison az any
time after July /. 1929, provided
thirty days previous notice in writ
ing of such option shall have frs.
been served on said Lake County
National bank.
This bond is one of a series of like
tenor, issued for the purpose of en-
larging, extending and lettering the
electric lighting system now owned
by the city of Madison and pursuant
to the authorization in hat behalf
by the lawful electors of said city al
an election duly called and held in
said city on the 18th day Of May,
1919. under the authority of the
Political Code of the state of South
Dakota.
And IL is hereby certified and re.
cited that all acts, conditions and
things required to be done precedent
to and in the issuing of this bond
have been done. happened and beer
performed in regular and due form
as required by law, and that the
total Indebtedness of the city of Mad.
ison. including this bond, does moi
exceed the statutory or constitutional.
limitations.
In Testimony Whereof, the Boart
of Commissioners of the city OF Mad
ison. South Dakota, has caused thi
bond to be sealed with the corporal,
seal. signed by the Mayor and at
tested by the City Auditor, and hai
caused the annexed interest coupons
to be signed with the facsimils sig
natures of the said officers this frs
day OF July. 1919.
Attest: Mayor.