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

inhabitants, and II has been found
and determined tina. the cost thereof
IS 10 be paid for By said city in the
sum Of Fifty Five Thousand Dollars
f$55,G0000l; and
WHEREAS, The Ironwood & Bes
scmer Railway & Light Company
corporation. now owns and is operat-
ing q WaterWorks system in said city,
and furnishing water for the use Of
said city and It's inhabitants; and
WHEREAS, the said IronwoOd &
Bcsemer Railway & Light Company
Is willing 20 sell it. said waterWorks
plant. consisting IF water mains, ny
dfants, water meters, stand pipe,
leases, easements, real estate, fran
chisee, and other equipment;
now, THEREFORE. the common
council Of aid city Of Hurley, do Or
dam as follows.
Section ] That the city Of Hurley,
Iron County, Wisconsin, shall and does
hereby determine to purchase and ac-
quire from the aid lronwood e. Bes-
emer Railway & Light Company, its
successors or assigns, the said water
works y8tem as above described.
Section 2. That, for the purpose Of
providing funds to pay the cost Of
the purchase of said waterwOrks sys-
tenn, and for the equipment thereof,
On the erect on Of engine house, en-
ginea, pumps, water mains, reservoirs,
and other reasonable facilities for fire
protection, and the furnishing Of wa
ter 10 said city and it's inhabitants,
10 the extent that said cost is to be
paid for by said city. there be borrow
cd upon the credit Of said city the
sum 81 Fifty Five Thousand Dollars
$55,0O000), and that bonds be issued
therefor
Section B. That said bonds be de-
slguated NaterWOrks Bonds, be dated
October LIST, 1922, be Of the denomina-
ton Of $4,000, numbered from one
Cd ~ one hundred ten (ll0D, and ma
tufc IN numerical order S2750.00 on
October LIST, Of each of the years
1923 20 1912, That said bonds bear
interest at the rate of five per cent
per aanum, payable April LIST, 1923.
and aemi-annually thereafter on the
lst day Of October and April of each
year; that said bonds be signed by the
Mayor and sealed with the corporate
seal Of said city, attested by the city
clerk thereof and that the interest
upon said bonds be evidenced by cou-
pons thereto attached, maturing on
he several days when such interest
natures, and that such coupons be
signed by the Mayor and City Clerk
Dy their respective fac simile sigma
lures, and said officers shall by the
execution of said bonds, adopt as and
for their own proper respective sig
natures their respective fac smile sig
natures appearing on said coupons;
that said bonds and coupons be pay
able at Central Trust Company Of
| Chicago. Chicago. Illinois.
And it is hereby certified and re-
cited that the value of all taxable
property in the said city of Hurley,
according 10 each of the last pre-
cedng valuations thereof was as fol-
! lows.
For the year 19t7........$ 90l 1915. 90
FOR the year l9lS.......1, 1853, las. 90
! For the year l9l9.........1 1911 ,653 90
For the year 1920. ........3 ,228, 1864
| For he year l92l...... 1851 ,658.00
and that the average of such values
Is $2.07S,G6500
And it Is further recited and certi-
fed that the amount Of all bonded in
| dcbtedncss Of said city of Hurley is
| S27,5o0, and the amount thereof in
| outstanding bonds previously issued
1 by said city for the acquiring of a wa
tcrWorks system TO be paid for by saiG
/ city Is nothing; aud further, that q
/ bond issue is now pending in said city
for an 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, 1872
Section a. That said bonds and cou-
nons be in substantially the following
forms
tForm Of Bond)
/ UNITED STATES OF AMERICA,
STATE OF WISCONSIN.