Ladysmith news-budget. [volume] (Ladysmith, Rusk County, Wis.) 1907-1927, 1922-07-14
THE COUNCIL-CITY OF LADY
SMITH

r. j. Coon:
RESOLVED BY THE COUNCIL
OF THE CITY OF LADYSMITH that
the following resolution known as the
| initial resolution for the issuance of
street Improvement bonds of the City
of Ladysmith to the amount of $780,
900, dated June l. 1922, be offered and
read at this adjourned regular meeting
of the Council of the City of Lady
smith and after such meeting that it
shall be published in the official paper
of the City of Ladysmith in it's issues
of July IA, 1922 and July p, 1922, and
that said resolution for such bond is
sue shall be voted on by the Council
at it's regular meeting to be held on
| the first day of August, 1922.
r. J. COON,
Councilman.
RESOLUTION
A resolution authorizing the issu-
ance of street improvement bonds of
the city of Ladysmith, Wisconsin, to
the amount of $35,0O0.00 and provid-
ing for the levy of an annual tax for
the payment of the principal and in
terest thereof
BE 1T RESOLVED by the Council
of the city of Ladysmith in the county
of Rusk and State of Wisconsin, as
follows:
Section /. That for the purpose of
enabling the said city of Ladysmith
to pay for certain street improvements,
the cost of which has been made a gen.
eral city charge, and for the further
purpose of creating a temporary fund
out of which to advance the cost of
! paving streets in anticipation of the
collection by the city treasurer of the
special assessments made to pay the
cost thereof, there is hereby author
| lied to be issued by the said city ne
gotiable coupon bonds in the aggre-
gate amount of Thirty-fve Thousand
Dollars 1885, 100000, to be designated
Getty of Ladysmith Street Improve
ment Bonds, consisting of thirty-five
bonds of 100000 each, which said
bonds shall be dated the first day of
June 1922, and bear interest evidenced
one-half per cent (51a%o) per. annum,
the first installment of interest to be-
come due and payable on June l, 1923,
and thereafter interest shall be payable
semi-annually on the first day of June
and on the first day of December of
each year Both principal and inter-
est of said bonds shall be made payable
| at the Office of the treasurer of the
| city of Ladysmith Wisconsin, and each
of said bonds shall bear on it's face the
name "City of Ladysmith Street I'm
prOvement Bond" a statement Of the
value of all of the taxable property in
| the city of Ladysmith according to
each of the last preceding five assess
ments thereof for state and county
| taxes; and the further statements that
| the average of such value is So, S35, 467.
co. that the aggregate amount of the
existing bonded Indebtedness of the
said city including this issue is $751;
| 10000, that the amount of outstanding
bonds previously issued by the said
city for the same purpose is 100000,
and that a direct annual irrcpealable
| tax has been levied by the said city
| sufficient to pay the interest thereon
when it falls due, and also to pay and
discharge the principal thereof at ma
turity. Said bonds shall be payable
to bearer and shall be consecutively
numbered beginning with No 1 and
ending with No. 50. Three Of said
bonds shall become due on the first
day of June in each Of the years 1927
F, to 1886 both inclusive, and five of said
bonds shall become due on the first
day of June 1897, and shall be paid
in order commencing with the lowest
serial number.
orized shall be in substantially the
following form:
No. 100000
UNITED STATES OF AMERICA
State of Wisconsin
CITY OF LADYSMITH
Street Improvement Bond
/ KNOW ALL MEN BY THESE
PRESENTS, that the City of Lady
smith, in the county of Rusk, in the
state of Wisconsin, acknowledges
that it owes, and for value received,
hereby promises to pay to bearer One
Thousand Dollars ($1OO0.O0), lawful
money of the United States Of Amer
| lea, on the first day of June 19------,
with interest thereon from the date
| hereof at the rate of five and one-half
per cent (55%) per annum payable
on the first day of June 1923, and semi