The Bourbon news. [volume] (Paris, Ky.) 1895-19??, 1920-06-01
An Ordinance
PROVIDING FOR A BOND FORM
FOR THE $35yOO0.0O SCHOOL
IMPROVEMENT BONDS AND
Also PROVIDING FOR THE
LEVY OF A TAX FOR INTER-
EST AND SINKING FUND PUR-
POSES.

kentucky, that,
WHEREAS, by virtue of an ordi-
nance duly passed by this Council;
upon the 25th Gay of March, 1920,
Bonds were authorized to be issued
En the sum of S35,000.00, and
WHEREAS, said bonds have beef.
duly advertised for sale and have
Been sold, but not yet executed and
delivered,
THEREFORE BE IT ORDAINED:
Section THAT said bonds shall
De N substantially the following
form:
UNITED STATES OF AMERICA,
STATE OF KENTUCKY,
COUNTY OF BOURBON,
CITY OF PARIS.
1--WE (5%) PER CENT SCHOOL
IMPROVEMENT BOND.
no. 1. $500. 90
n gold coin of the present stand
ard Of weight and fineness of the
United States of America, with in
terest thereon at the rate of five
f5%) per cent. per annum, paya-
bic semi-annually on the first days
of May and November, of each year,
aRtil the payment of the principal
Eereof, upon presentation and sur
RENDER of the proper coupons there
E0r hereto attached. Both princi-
saI and interest hereof are payable
at the Bank of America in the City
OF New York.
This bond is one of a series of
seventy bonds of like denomination,
tenor and effect except as TO ma-
thrifty. numbered from one to sew
enty inclusive, aggregating $685.
900 90 i'm amount and is issued I'M
der the authority of the General
Laws of the State of Kentucky for
abe purpose of building and equip
ping additions to the City Schools
IF said city and by virtue of an Or
SiBance duly passed by the Council
sf said city upon the 25th day OF
March, 1920. the question of issu
ing these bonds having been duty
submitted to the qualified voters Of
said city at an election duly called
and held, at which election more
than two-thirds of the electors
voting thereat, voted in favor Of
the insurance hereof.
1t is hereby certified and recited
mat all acts. conditions and things
required by law tc be done pre-
cedent to and i'm the issuance here
OF have been done and have hap
yaeHed in accordance with the law.
That this issue OF bonds, together
with all other outstanding lndebt-
edness of said city is within every
solo+ nd 70
alton under the laws and conStItu-
ton of the State; that provision
aas been made for the levy and col
lection of an annual tax sufficient
g a,loUnt to pay the interest hereon
aus1 70 provide q sinking fund for
the rayment Of the principal hereof
at maturity; that the full faith,
credit and revenues and all real
and personal property o. said CITY
are hereby irrevocably pledged for
the prompt payment of this bond
zud interest as the s. me mature.
IN WITNESS WHEREOF, the
CITY of Paris. Bourbon County, Ken
1,,cky has caused this bond to be
signed by the Mayor and City Clerk
tSe seal of the city to be affixed and
rhe coupons TO bear the faclmlle
signature of said City Clerk at
Paris, Kentucky, this first day OF
May, 1920.
tsETL)
E. B. JANUARY. Mayor.
J. W. HAYDEN, City Clerk.
The coupons shall be in substan-
sally the following form.
COUPON.
NO. I. $12;5O
On the first day of November
fMay) 1920, the City of Paris,
Bourbon County. Kentucky, prom
tses to pay to bearer in gold coin OF
the United States Of America Or the
present standard OF weight and
ffneness. the sum of $3.50 at the |
Bank of America in the City OF New |
York. being six months Interest |
then due upon its School Improve
.nent Bond No. /, dated May 1.
1920.
J. w. HAYDEN. Clerk.
Section BE it further ordained 1
sb,,t there shall be and is hereby or
Jered levied upon the taxable prop
erty in the City OF Paris, direct,
annual tax sufficient In amount 10
nav the interest upon said lndebt-
edness as it becomes due. and to
provide a sinking fund to redeem
the principal thereof at maturity
Said tax shall be in the following
amounts i'm the following years
For the year 1920, the sum o.
So, 10000. i
For the wear 1921, the sum Of
$3,412.50. Il
For the year 1922, the sum. of
SO, 325.o0. 4
For the year 1925, the sum oi
s3,237.5G.
For the year 1924, the SUM oi
y3.150.00. i
Fer the year 1929, the sum OF
..
For the year 1926, the sum OIL
81. 975.e0.
For the year 1927, the sum OIL
81, $3.50. ..
For the year 1923, the sum oI
81 10000. =.
For the year 1929 the sum OF
e