The Birmingham age-herald., 1921-05-14

An ordinance providing for the is-
 suance of bonds of the City of
 Birmingham in the amount of two hundred and twenty five thou
 sand (S225,000) dollars for the pur- pose of paying outstanding con-
 tractors estimates for public i'm prOvements.
 Whereas, the assessments for the cost of improvements under Improvement Ordinance No. 924-C were made final more than thirty days prior to the en- actment of this ordinance, and the bal | ance of the cost of said improvements remains unpaid, as evidenced by cer- tain outstanding contractors estimates, and,
 Whereas, for the purpose of provid- ing means to pay for the part of the work remaining unpaid it is necessary to issue and sell bonds of the City of Birmingham in respect of the improve ments made under the said Improve ment Ordinance to an amount sufficient | to pay the cost of said improvements after deducting the amount paid by l property owners, the said bonds aggre- gating the amount of Two Hundred Twenty-Five Thousand ($225O0o.00) Dol lars.
 Now. Therefore. be it ordained by | l ham as follows:
 Section l. City Public Improvement Bonds of the City of Birmingham to the aggregate principal amount of Two Hundred Twenty five Thousand ($225,- 100000 Dollars shall be issued in one series, which series shall be numbered to correspond to the Improvement Dr. dinance under which the said improve ments were made. The said bonds shaii | ha, rJ +;-x~ oeT r,xrn T I ($o0000) Dollars each and the numbers of the said series and the numbers of the bonds of said series and the aggre- l gate amount of said bonds in said series shall be as follows:
 SERIES BOND NUMBERS AMOUNT 924-C to 450 inclusive s225, ,0O0. .O0
 The numbers of the above bonds are inclusive. Said bonds shall be issued to pay for the unpaid part of the cost of the said improvements. The said bonds shall be dated June 6. 1921, and shall bear interest at the rate of seven per centum C per cent) per an- mum. payable semi-annually at the 1 Hanover National Bank, in New York City, on the sixth days of December and June of each year; provided, however. that not exceeding one-fifth in amount of said bonds shall be redeemable by the City of Birmingham in numerical order before maturity on June 6, 1923, 1 and similar number of bonds on the sirth day of June in each year there after by paying to the holder or hold CTS thereof as bonus d sum equal to | onc-half the annual interest on the bonds redeemed. notice of redemption to be given prescribed in the form of bond hereinafter provided.
 l Sec. 2. The said bonds shall be issued under the corporate seal of the City of | D..---- H. x .l L 1- 4pons shall be signed by the President of the Commission of the City of Bir- mingham Alabama. and the City Comptroller. the said City Comptroller ,ein" ey-officio Trea surer of the City of Birmingham, but the signatures upon the said coupons shall be by the litho- graphed or engraved fac-simile sigma lures of the said President and Comp troller, which fac-simile signatures are hereby adopted as sufficient and au- | thentic execution of said coupons. Ina provision shall be and is hereby made for the registration of the said bonds ir the name of the owner or holder there of, and the said Ctmptroller Is hereby authorized and empowered to registe' the sad bonds in the name of tn, owner, both as to principal and interest or only as to principal in the manner and form hereinafter prescribed. Int form of the said bonds shall be sub stantially as follows:
 UNITED STATES OF AMERICA
 STATE OF ALABAMA
 CITY OF BIRMINGHAM
 CITY PUBLIC IMPROVEMENT COLI .lNo.- SERIES ss4-c 5000
 The City of Birmingham. in the Stat of Alabama. for value received hereb, promises to pay to bearer the sum Q Five Hundred Dollars on the sixth da, of June, 1881, with interest thereon the rate of seven per centum per an hum. payable semi-annually on th' sixth days of December and June il each year on the surrender of the re