Iron County news. [volume] (Hurley, Wis.) 1913-1950, 1922-08-05

inhabitants. and it has been found
and determined that the cost thereof
Is to be paid for by said city in the
sum Of Fifty Five Thousand Dollars
$3.50, 100000; and
WHEREAS, The Ironwood & Bes-
scmer Railway & Light Company a
corporation. now owns and IS operat-
ing a WaterWorks SYSTEM in said city,
and furnishing water for the use Of
said city and its inhabitants; and
WHEREAS, the said lronwoOd &
Bessemer Railway & Light Company
IS willing to sell its said waterworks
plant, consisting Of water mains, by
drants, water meters, stand pipe,
leases, sements, real estate, fran
chisee, and other equipment;
now, THEREFORE, the common
council Of said city Of Hurley, do Or
dam as follows:
Section l. That the city Of Hurley,
Iron County, Wisconsin, shall and does
hereby determine 20 purchase and ac-
quirc from the said lronwood & Bes-
senior Railway & Light Company, its
successors or assigns, the said water
works ystem rs above described.
Section 2. That, for the purpose Of
providing funds to pay the cost of
the purchase Of said Waterworks sys-
TEN, and for the equipment thereof
ln the erection Of engine house, en-
gincs. pumps, water mains, reservoirs.
and other reasonable facilities for fire
protection. and the furnishing Of wa
ter to said city and its inhabitants,
to the extent that said cost is to be
paid for by sand city, there be borrow
ed upon the credit Of said city the
sum Of Fifty Five Thousand Dollars
$50, 0O0.00l, and that bonds be issued
therefor.
Section 3. That said bonds be de-
signated Waterworks Bonds, be dated
October lst, 1922, be of the denomina-
tion Of $4,000, numbered from one
Cd To one hundred ten (l10), and ma
tute ~ numerical order $2750.00 on
October lst, Of each Of the years
1923 70 1912 That said bonds bear
interest at the rate Of five per cent
per annum, payable April list, 1923.
and scmi-anuually thereafter on the
LIST day of October and April of each
year; that said bonds be signed by the
Mayor and sealed with the corporate
seal Of said city, attested by the city
clerk thereof and that the interest
upon SAID bonds be evidenced by cou-
pons thereto attached, maturing on
the several days when such interest
natures, and that such coupons be
signed by the Mayor and City Clerk
by their respective fac simile sigma
lures, and said officers shall by the
g@pettfio 3f .-gfl barl- rle,.t -. -. i
Tor their own proper respective sig
natures their respective fac smile sig
natures appearing on said coupons
that said bonds and coupons be pay
able at Central Trust Company OF
Chicago. Chicago, Illinois.
And it is hereby certified and re
cited that the value of all taxable
property in the said city of Hurley
according 10 each of the last pre-
ceding valuations thereof was as fol
lows:
For the year 19t7.......$9 0l ,375. OO
For the year l9lS........1 1859, 74S.00
For the year l9l9........1,3l1,65 3. 00
For the year .3.22S, 895. 00
For the year 1851 .658. 0C
and that the average of such values
| is $2076, 665.00
And it is further recited and certi-
fed that the amount of all bonded in.
debteducss Of said city of Hurley is
S27,50o. and the amount thereof in
outstanding bonds previously issued
by said city for the acquiring of wa
10 works system TO be paid for by said
| city rs nothing; and further. that a
bond issue is now pending in said city
for am additional amount Of $4,000
for street improvements, but no bonds
therefor have yet been issued, and if
same are issued they will bear date
July lst 1922
Section L. That said bonds and cou-
pons be IN substantially the following
form;
form Of Bond)
| UNITED STATES or AMERICA.
STATE OF WISCONSIN.