River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1922-05-04
RESOLUTIONS


Whereas the South Fork Bridge on
Main street in the City of River Falls,
is unsafe and has been condemned,
and it will cost in the neighborhood
of $4,000 to temporarily repair said
bridge, and such expenditure of
money would only be temporary and
the City would be obliged to build
new bridge at said point within a few
years, and from estimates made, a
new bridge can be erected for $4,000
and it would be to the best interest of
said City to provide funds to erect a
new permanent bridge on said South
Fork
Be it Resolved by the Common
Council of the City of River Falls,
Thatathe City of River Falls do is
sue its negotiable Corporate Bonds
for the purpose of constructing
bridge across the South Fork of the
Kinnickinnic river on Main street in
said city and the approaches thereto,
such bonds to be issued to the amount
of $4,000 in denominations of Five
hundred dollars each, bearing interest
at the rate of six per cent per an
mum, payable semi-annually at the of
flee Of the City Treasurer on the 1st
day of February and August of each
year; such bonds to bear date August
1st 1922, and to be known and desig-
mated as City Bridge Bonds, and have
attached thereto interest coupons,
such bonds to be numbered from one
to sixteen, and to become due and
payable as follows.
Bond Nos. one to two inclusive Feb.
1st 1923.
Bond Nos. three to four inclusive
February 1st 1924.
Bond Nos. five to six inclusive Feb.
1st 1925.
Bond Nos. seven to eight inclusive
Feb. 1st 1926.
Bond Nos. nine to ten inclusive
Feb 1st 1927.
Bond Nos. eleven to twelve inclus-
i've Feb. 1st 1928.
Bond Nos. thirteen to fourteen IN
elusive Feb. 1st 1929.
Bond Nos. fifteen to sixteen in
elusive Feb. 1st 1850.
That the aggregate amount of all
bonded indebtedness of said City is
100000
The value of al taxable property
in the City of River Falls according
to each of the five last preceding
valuations are as follows. For the
year 1921 $2,547 $4,000. For the
year 1920 $2,465, $4,000. For the
year 1919 $4,000, $4,000: For the year
1918, 81, 1898, $500: That the average
of said five years valuation is ST.
113,86o.00.
Such bonds shall show on their face
the amount of the Indebtedness of
the City of River Falls and the
amount Of the assessment of the tax
able property therein for each of the
five years next preceding the date OF
their issue and the average amount
thereof.
Said bonds shall be issued in the
name of the City of River Falls, pay
able to bearer, by the Mayor and City
Clerk of said City and its corporate
seal affixed thereto, such bonds shall
not be sold for less than their par
value and accrued interest, and shall
be sold and disposed of under the di-
rection of the Common Council of
said City.
Such bonds shall recite the fact
that direct annual irrepealable tax
has been levied by the City of River
Falls sufficient to Pay the interest
when it falls due, and also to pay and
discharge the principal at maturity.
To provide for the payment of sa.ss
bonds and the interest thereof as the
same may become due, direct annual
tax is hereby levied upon all the tax
able property real and personal of the
City of River Falls, in addition to all
ether taxes sufficient to pay when
due, interest, semi-annually to grow
due upon said bonds and also to pay
and discharge the principal thereof
by the time the same shall become
due.
F. v. Williams, City Clerk