The pioneer-review. [volume] (Philip, Haakon County, S.D.) 1920-current, 1922-05-25

kOn County, South Dakota.
Whereas, the Council of the City
Of Philip, Haakon County South
Dakota, at a meeting regularly
called and held in said City on
March q, 1922, by resolution duly
passed and adopted, provided for
submitting to the qualified electors
Of said City. at the annual election
to be held on April Is, 1922, after
due notice, by law required the
question Of issuing the bonds OF
said City in the amount of S25,Oo0
to be known rs Waterworks I'M
provement Bonds, said bonds to be
dated May /, 1922, become due May
/. 1912, and bear interest at the
rate of six per cent Is per cent?
per annum, payable semi-annually
for the purpose of constructing
improvements and extensions to
the Municipal Waterworks System
in said City; and
Whereas, notice of said election
stating the purpose for which SAID
bonds are to be issued and the a
mount and rate Of interest thereof
was duly published not less than
ten days before said election as
required by law; and
Whereas, said question was duly
and properly submitted at said ell
ection, and there did vote at said
election $40 electors Of said City,
of which said electors 221 did vote
in favor Of issuing the bonds afore-
said and ~ did vote against said
proposition, said 22l electors so
voting in favor of mourning the
said Indebtedness being majority
of the electors of said City voting
at said election which said vote has
been duly canvassed and declared
by the Council; and
Whereas. it is deemed necessary
to provide for constructing and
improving the Waterworks System
in and for said City and the pres
sent cost incident to such work Is
not less than the sum Of $4,000:
Now, Therefore. Be 1t Ordained
by the City of PHILIP. Haakon
County, South Dakota, as follows:
Section /. That for the purpose
Of constructing improvements and
extensions to the Municipal Wat
erworks System in said City there
be borrowed the sum of $4,000
and that the negotiable coupon
bonds Of said City be issued there
for.
Section 2. That said bonds be
dated May /. 1922. he of the de-
nomination Of $1,000 each, number
ed | to rs, both numbers included,
and be due and payable May |,
1912, that said bonds bear interest
at the rate Of six per cent go per
annum, payable on the first day
Of November. 1922, and seminar
nually thereafter on the first days
Of May and November Of each
year.That said bonds be signed BY
the Mayor Of said City and attest
ed by the Auditor thereof. with
the seal Of said City affixed, and
that interest acrruing upon sale
bonds be evidenced by coupons
thereto attached, maturing on the
several days when such interest
natures. and that such coupons
be signed by the fac smile sigma
ture of said Mayor and Auditor
and that said officials by the exc
cution Of said bonds, shall adopt
as and for their own proper sigma
lures their respective fac simile
signatures appearing on said cou.
pons. That said bonds and coupons
be payable at Continental & COM
Trust and Savings Bank, in the
City of Chicago, State Of Illinois
Section 3. That said bonds, cou.
pons and certificates Of registra-
ton be in substantially the follow.
ing forms, to-wit:
(FOrm Of BOnd)
UNITED STATES OF AMERICA
State Of South Dakota, County Of
Haakon. City Of Philip.
Waterworks Improvement Bond
No. ------ $1,000 .0(
KNOW ALL MEN BY THESE
PRESENTS: that the City of Phi
LID. Haakon County, South Dakota
acknowledges itself to owe and fol
value received hereby promises to
pay to bearer the sum Of One
Thousand $4,000 Dollars on the
first day Of May 1912. with interest
thereon at the rate of six per cent
(6 per annum from date hereof
until paid, payable November 1,
1922 and selni-annually thereafter
on the first days Of May and Nov
ember Of each year upon presenta-
tion and surrender Of the coupons
hereto attached as they severally
mature. Both principal hereof and
interest hereon are hereby made
payable ia lawful money Of the