The Wisconsin tobacco reporter. (Edgerton, Wis.) 1877-1950, 1920-09-24
Ordinance No. LA.

An ordinance authorizing the issue of bonds
of the City of Edgerton, Rock County, Wis.
consin, IN the sum OF Fitty-tWo Hundred
Dollars ($5200OO) and amending, an ordinance
adopted on the 10th day of February, 1920.
WHEREAS an ordinance was duly adopted
by the Common Council of the City of Edger-
ton, the 10th day of February, 1920, being
Ordinance No. JOG, providing for the ELS issuance
of Fifty-two Hundred Dollars ($5200.0O of
bonds of said city for the purpose of pur-
chasing the property of the Edgerton Driving
Park Association in said City of Edgerton,
to be used for park purposes, and providing a
form for said bonds and levying tax for the
purpose of paying the principal and interest
thereof; and
WHEREAS a proposition for their issue
for the special purpose thereof has been sub
mitted to the people of said city and duly
adopted by majority voting thereon in ac-
cordance with Sec. 943 Wisconsin Statutes;
and
WHEREAS the said ordinance provides
that said bonds shall bear interest at the
rate of FIVE per cent. $50 per annum and
shall not be sold for less than their face
WHEREAS because of present conditions
it is found impossible to sell the said bonds
at par unless the interest rate thereof be
increased to six per cent. (63o); and
WHEREAS said bonds are to be issued in
compliance with Sections 925-133 and 943 of
the Wisconsin Statutes instead of Sections
926-11 and 943 of said statutes as recited in
said previous ordinance;
WHEREFORE the Common Council of the
City of Edgerton do ordain follows
Sec. L. That said ordinance be and the
! same hereby is amended to read follows:
That for the purpose of purchasing the prop
erty of the Edgerton Driving Park Associa-
ton in said City of Edgerton, to be used for
park purposes, there be and hereby is author
nicipal bonds to the amount of Fifty-two Hun
dred Dollars ($5200.0O. Said bonds shall be
consecutively numbered from / to IL. Bonds
numbered /, 2, 3, 4, 5, 6, 7, 8, g and 10 shall
he n der natl Of Hrp6
Dollars 10000, and bond No. II shall be in
the denomination of Two Hundred Dollars
($20o.00) The said bonds shall bear date as
of the End day of August, 1920, and shall be
signed by the mayor and city clerk and at
tested by the corporate seal of the City OF
Edgerton, and shall be issued in all respects
Sections 925-l33 and 943 of the Wisconsin
Statutes. The bonds shall bear interest at
the rate of six per cent. (6?o) per annum,
payable at the office of the city treasurer OF
August and February in each year, as evil
denced by interest coupons attached to each
of said bonds. The bonds shall be payable
at the office of the city treasurer, Edgerton.
Bond No shall be payable February O.
1880,
Bond No. shall be payable February q
1884,
Bond No. 3 shall be payable February g.
1882,
Bond No. shall be payable February g.
1855,
Bond No 5 shall be payable February g.
1884,
Bond No. shall be payable February g.
1885,
Bond No shall be payable February q
1886, I'LL.
Bond No. shall be payable February q
1887,
Bond No. 9 shall be payable February q
1888,
Bond No 10 shall be payable February g.
1889,
Bond No II shall be payable February q
1910
Sec. 2. For the purpose of providing fol-
the payment of principal and interest said
bonds and when the same shall become
due there is hereby levied on all the. taxable
property of the City of Edgerton, in addition
to all other taxes, tax sufficient to pay
the various instalments of principal and in.
terest as they severally become due.
Sec. 3. Said bonds shall be substantially
the following form, to-wit:
United States of America
State of Wisconsin, County of Rock, City Of
Edgerton,
City Park Bonds, 1920.
KNOW ALL MEN BY THESE PRESENTS
that the City Of Edgerton in the County Of
Rock in the State of Wisconsin, acknowledg
es itself to owe, and for value received
promises to pay to the bearer the End
day of February, 10, the sum of