The citizen-Republican. (Scotland, Bon Homme County, S.D.) 1???-19??, 1920-02-19
ORDINANCE NO. 42.-C.

| ORDINANCE NO. 42.-C.
An Ordnance Providing for the Is
suance of Bonds of the City of
Scotland. South Dakota, in the
Sum of Thirty Thousand Dollars
$3.50, OOO) for the purpose of Ex-
tending the Water Mains of Said
City End Providing for the Lew of
an Annual Tax to Pay the Principal
and Interest Thereon and Declar-
Ing an En- Urgency.
WHEREAS at an election duly
called and held on the Goth day of
September 1919. more than major.
ity of the qualified electors of the
City of Scotland South Dakota, vot-
| ed in favor of the issuance of the
bonds of said City to the extent of
Thirty Thousand Dollars $3.50, OOO)
for thepurpoae of extending the water
| mains of said City,
NOW THEREFORE, Be it OR.
DAINED by the City of Scotland.
South Dakota.
Section /. That for the nurnose of
extending the water mains of the
1 City of Scotland, South Dakota. there
shall be and there are hereby ordered
and directed to be iasued the negotia-
BILE coupon bonds of said City in the
sum of Thirty Thousand Dollars $3.50.
| .OOO That said bonds shall be thir
| ty (3O) in number numbered from
one (l) to thirty (30), 10th inclusive,
and shall be of the denomination of
One Thousand Dollars each, shall be
dated March l, 1920 and shall ma
ture as to principal on the fret day
of March, 1910, but the right shall
| be reserved to the City to prepay two
| ~ of said bonds in the order of their
number, lowest numbers first on the
first day Of March IN each of the
years 1880 to 1889, inclusive, or on
any interest payment date thereafter.
Said bonds ahall bear interest at the
rate of Five Percent per annum pay
able semi annually on tbs first DAYS
of September and March in each year
and shall have interest coupons at
tached for each installment of inter.
est, and both principal and interest
shall be payable at the First National
Bank in the City of St. Paul, Mime.
sofa.
Section 2. Said tonds and coupons
snail be in substantially the follow.
ing form with the necessary variation
) as to numbers and prepayment priv.
leges. which said form is hereby ap.
proved and adopted:
No. ,....... $1,000
{ UNITED STATES OF AMERICA
ATE OF SOUTH DAKOTA.
COUNTY OF BON HoMME, CITY
OF SCOTLAND WATERWORKs
BONDS.
} KNOW ALL MEN BY THESE
PRESENTS, That the City of Scot.
land in the County of Bon Homme.
State of South Dakota, acknowledges
itself to owe, and, for value received,
hereby promises to pay to bearer
ONE THOUSAND DOLLARS
Isl, 0On) lawful money of the United
States Of America on the first day of
March. 1910. with interest thereon
at the rate of Five Percent per an.
nun payable semi annually on the
first days Of September and siarch in
each year upon presentation and SUR
render of the annexed interest coupon
/ as they severally become due, both
principal and interest being payable
at the First National Bank in the CITY
Of ST. Paul, Minnesota.
The City reserves the right to pre-
/ pay this bind on March 1, 49,, or
on any interest payment date there-
after by first giving thirty (3O) days
written notice Of its intention SO to
do to the bank at which the same is
PAYABLE.
For the prompt payment of the
/ principal and interest of this bond at
maturity. the full faith, credit and
resources of said City Of Scotland.
South Dakota. are irrevocably pledge
ed.
This bond is Issued BY the City Of
Scotland. South Dakota. for the pur-
pose Of extending its water mains
pursuant to favorable vote of more
than q majoritv Of the qualified cleo.
tore Of eaid City at an election duly
and legally called and held for that
purpose and purslisnt to resolutions,
ordinances and proceedings Of the City
tsss;ae; loff said City City duly passsi and
,ldopted and js authorized by and is
sued IL full compliance With tho eoa.