Audubon County journal. (Exira, Iowa) 1884-1993, 1920-10-21
Ordinance No. So

Il
An Ordinance providing for the
issuance of $4,000 Water Works
Bonds.
WHEREAS, The Town of Ext
"a, i'll the County of Audubon,
State of Iowa, is municipal cor
poration duly organized and exist
ing under and by virtue of the laws
and Constitution OF the State of
Iowa; and
WHEREAS, the Council of said
Town, heretofore, pursuant to Sec
tions 13O6-b ct seq. Of the Supple
ment to the Code of Iowa, 1918,
and to a legal and suitable petition
in accordance Herewith, signed by
a majority of the qualified electors
of said Town, did legally call an
election, fixing the time and place
thereof, and did legally submit
thereat to the voters of said Town
to be by them voted upon, the
proposition of issuing bonds of said
Town in the sum of Six Thousand
[S6,OOO] to procure the necessary
funds to erect, extend and improve
the water works system; and did
provide for legal, sufficient, and
timely notice of said election and
the time, place and purpose there
of; and
WHEREAS, Said election was
legally held and conducted on the
Twenty-sixth day of July, 1920,
from eight o'clock A. NJ, until sew
en- o'clock P. NJ, pursuant to said
call and to said legal and sufficient
notice, duly given for four full
weeks by publication once each
week in a newspaper published in
said Town, in strict compliance with
law and the orders Of said Council;
and a majority of the qualified
electors of said Town, voting there
at, voted in favor Of the aforesaid
proposition, the affirmative vote on
said proposition being equal to a
majority of all persons who voted
at the last preceding municipal cleo
ton of said Town; and said propos-
ition was duly adopted; and
WHEREAS, None Of the bonds
in the aggregate amount Of Six
Thousand Dollars [$6,000l thus le-
gally authorized by aforesaid petit
ton and aforesaid election, have
yet been issued; it is therefore
ORDAINED, By the Towr
Council of the Town of Extra, Iowa
Section l, That there are here
by authorized to be issued Twelve
[l2] negotiable Water Works Bond:
Of said Town of Five Hundred Dol
lars each, numbered consecutivel,
from One III to Twelve III bott
numbers inclusive, to be dated tn
First day of September, 1920, t
bear interest from and after tn
date thereof until paid, at the rat,
of Six per centum 1921 per annum
payable semi-annually on the FRS
days of March and September il
each year, such interest to be evi
denced by negotiable coupons at
tached to each bond; both princi
pal and interest payable in Lawful
money of the United States 0
America, at the Banking House Q
Geo. M. Bechtel & Company, il
the City of Davenport, State Q
Iowa. Said bonds shall becom
due and payable on the First da
Of September, 1928.
Section 2. The bonds hereb
authorized shall be in form and re
citals substantially as follows:
No. (Form Of Bond $50
United States of America
State of Iowa, County Of Audubon
Town of Extra, Water Works Bono
The Town of Extra, in the Stat
of Iowa, for value received, prom
Uses to pay to bearer Five Hundre
Dollars, lawful money Of the I'm
ted States of America, on the Firs
day Of September, 1928, with il
terest on said sum from the dat
hereof until paid, at the rate of ST
per centum per annum, payab
semi-annually on the First days {
March and September, in eac
year, upon presentation and SUI
render of the interest coupons her.
to attached; both principal an
interest payable at the Bankir
House of Geo. M. Bechtel & Con
pany, in the City Of Davenport
State of Iowa.
This bond is one of a series
bonds issued by the Town OF Exir
pursuant to and in strict COMP
ance with the provisions of Sc
tions l306-b ct seq. of the Suppl
4 L L.