The Holly chieftain., 1921-09-29
ORDINANCE NO. %.

ORDINANCE NO. 90.
AN ORDINANCE TO CONTRACT
AN INDEBTEDNESS on BEHALF
OF THE TOWN OF HOLLY, COL
ORADO, AND UPON THE CRED
1T THEREOF BY ISSUING NE
GOTIABLE COUPON BONDS OF
SAID TOWN TO THE AMOUNT
OF TWENTY-FIVE THOUSAND
DOLLARS tS25.00O, FOR THE
CONSTRUCTION AND EXTEN-
SION AND IMPROVEMENT OF A
SRSTEM OF WATERWORKE
FOR FIRE AND DOMESTIC PUR-
POSES, PRESCRIBING THE
FORM OF SAIDB ONDS AND
PROVIDING FOR THE LEyYING
OF TAgES TO PAY THE PRINCI-
PAL THEREOF AND INTEREST
THEREON.
WHEREAS, under the authority OF
the constitution and the laws OF
the State Cf { Colorado, as heretofore
and noy in forge. and the requisite
approving vote of majority OF the
properly qualiled voters OF the
Town of Holly, who were taxpayers
under the law heretofore duly had
and taken in full compliance with
all constitutional and statutory re-
uuircmnts, at special municipal
election held in and for said Town
of Holly on Tuesday, the 9Th day OF
June A. d. 1908. the Town of Holly
had the power, and the town board
OF Trustees thereof were duly auth.
orized to and did erect system OF
watelworks for fire and domestic
purposes, and said town OF Holly
thereafter and now owns, operates
and maintains said system OF wat
erWorks for the purpose OF supply
ing said town and its inhabitants
with water for fire and domestic
purposes: and,
WHEREAS, by the reason OF the
growth of the town of Holly, the
present water system Is Inadequate
for the said town and the inhab'
tants thereof, and it is necessary
TO erect and construct additions, ex.
tensions and improvements to said
water system in order to supply the
said town and the inhabitants with
a proper and adequate supply OF
water for fire and domestic pur-
poses; and,
WHEREAS, in the opinion OF the
Board of Trustees OF said ToWn OF
Holly, it is necessary to provide the
additions, extensions and improve
ments to said waterworks system
in order to properly safeguard the
health of the people and for the
general public welfare, and there
are not sufficient funds in the
treasury of said town to provide
for the said necessary additions. e1-
tensions and improvements, said
board of trustees deems it advis-
able and necessary that the sum oil
twenty-five Thousand Dollars 1925.
OOO) should be expended for the
purpose aforesaid, and it is necess-
airy in order to obtain said funds
to issue the negotiable coupon
bonds of said town in the aggregate
amount of Twenty-Five Thousand
Dollars tS25,000) as hereinafter set
forth:
NOW, THEREFORE, BE 1T OR
DAINED BY THE BOARD OF
TRUSTEES OF THE TOWN OF
HOLLY. COLORADO:
Section l. That the system of
waterworks for fire and domestic
purposes now owned, managed and
operated by the town of Holly be
improved, enlarged and extended so
that the town may have an ade.
quate supply of water for fire and
domestic purposes in accordance
with the plans and specifications
adopted. or hereafter to be adopt
ed by the Board of Trustees of said
town; and that for the purpose of
providing funds for the extension
and improvements of said water
works system as originally eontem-
plated and authorized by Ordin-
ance No. as of the Town of Holly,
adopted and approved on the Goth
day of July, A. d. 1908; the said
town shall issue it's negotiable cou-
pom bonds in the aggregate amount
of Twenty-Five Thousand Dollars
ts25,O00- to be designated Holly
Waterworks Extension Bonds Ser
les of 1921" consisting of twenty
five (25) bonds in the denomination
of One Thousand Dollars $1,000
each. Dayable in the lawful money