The Holly chieftain., 1920-12-23
ORDINANCE NO %.

ORDINANCE NO 90.
IN ORDINANCE TO CONTRACT
AN INDEBTEDNESS On. BEHALF
OF THE TOWN OF HOLLY, COL
OR ADO. AND UPON THE CRED
1T THEREOF BY ISSUING Ne
GOTIABIE COUPON BONDS ON
TOWN TO THE AMOUNT OF
TWENTY THOUSAND DOLLARS
ts2o.GD0Di FOR THE CONSTRU UCT-
lON. EXTENSION : AND I'M.
= PROvEMENT OF A SYSTEM OF
WATERWORKS FOR FIRE AND
DOMESTIC PURPOSES. PRE-
ffPIRING THE FORM OF SAID
BONDS AND PROVIDING FOR
THE LENYIN(i OF TAXES TO
PAY THE PRINCIPAL THERE
OF AND INTEREST THEREON:
WHEREAS under the authority of
he constitution and the laws OF tho
state OF Colorado as heretofore and
now in force and the REQUISITE an
PROVING vote of majority of the
properly qualified voters Of the
town Of Holly. who wore taynavers
under the law heretofore duly had
and taken in fnIl compliance with
all constitutional and sfatutOrv re
uuirements at a snecial plltnicinal
election held in and for said town o.
Holly on Tuesday the 9th dav Of
June A. D. 1908. the town Of Holly
hnd the power and the town board
Of Trustees thereof wcre duly alth,
orizcd 10 and did ercct system OF
Watcrworks for fire and domestic
nrrpocns and said town OF Holly
ftanrnoffrs X,.,
and maintains said system of water
works for the n,'rnosc 81 s,lnnlvinp
s2id town and its inhabitantS with
water 10" fire and domestic nur-
noses: and,
WIfER FtS. By .r,.ason Of the Frow'l,
~ t!an town of Holly tho nresent
wafer sesterr is Inadequate for thn
s"il Tn,r', fnd til" inhabitants there
: cf and u is nnnesearv to orect and
construct a,iditinns, extensions and
improvements to said water SvStfn
:. in order to suEply the said town
and thn Inhabitants with a. prone,
and ADEQUATE supply of water for
fire and domestic purposes: and.
WHEREAS In the opinion Of the
Board ot Trustees Gf said Town OF
Haliv. II is necessary tn provide the
additions. extensions and improve
mcnts to said watelworkS system III
order properiy to safeguard the
health nf the peonlc and for the
general public welfare and there
are not sufficient funds in the treas
l,iv Of said town to provide, for the
said necessary additions extensions
and improvements. said board OF
trustees deems it advisable and
necessary that the sum of Twenty
Thousand Dollars $50 900 should be
expended for thr DtWposes aforesaid
ard it IS Necessary IN order to oh
tain said f,ines to isa,,e tie ncgot
iable coupon bonds Of said town in
the aggregate anlnInt of Twenty
Thousand Dollars ls2O,00o1 as here
inafter set forth.
NOW, TIL HEREFORE. BE. TT OR
DA1NED RY TIE, BOARD OF
TRUSTEES OF THE TOWN or
HOLLY, COLORADO:
Section I. That the system OF
WaterWorks for fire and domestic
purposes now owned. managed ard
and operated by the town OF Holly
be improved, enlarged and extended,
50 that the town may have an ade-
auate supply Of water for fire and
domestic purposes in accordance
with the plans and specifications
adonted or hereafter to be adopted
'fy tile Board OF Trustees OF said
town. and that for the purpose Of
providing funds for the cxtenson
and Improvement of said waterworlt
system as originally contemplated
and authorized by Ordinance No. As
OF, the Town OF Holly. adopted and
approved on the goth day of July,
A. D. l;,9s the said town shall issue
its negotiable coupon bonds in the
aggregate amount OF Twenty T1aous-
ind Dollars t$20,O00l to be designat-
ed Holly Waterworks Extension
Bonds, Series of 1927 consisting of
twenty t20l bonds in the denomina.
tisn of One Thousand Dollars t$l0G0a
each payable in lawful money Of
the United States OF America. and
bearing interest from and after the
First day of January. A. d. 1921, at
the rate OF six per centum l6Tsl per
annnm, ravably semi-annually on
the lst day of July and the lst day
OF January in each year The said
bonds shall be numbered in regular
and consecutive order, commencing
with bond numbered one, and shall
be redeemable in the order of their
number on the lst day of January.
A. y. 1881 and absolutely due and
payable on the 1st day of January,
A. ID. 1896 Said bonds. both princi-