The Glenwood post., 1922-11-23
ORDINANCE NO. 8, SERIES OF 1922

AN ORDINANCE TO CONTRACT AN
lNDLBTEpN Ess ON BEHALF OF
THE CITY OF GLENWOOD
SPRINGS, COLORADO, AND UP
ON THE CREDIT THEREOF, BY
ISSUING BONDS OF SAID CITY
TO THE AMOUNT OF SEVENTY,
FIVE THOUSA AND DOLLARS
($75, 5,O00.0o), FOR THE CONSTRUC-
TION, IMPROVEMENT AND EX-
TENSION OF WARTERWORKS
FOR FIRE AND DOMESTIC PUR-
POSES, OWNED BY SAID CITY,
PRESCRIBING THE FORM OF
SAID BONDS, AND PROVIDING
FOR THE LEvY1NG OF TAXES
TO PAY THE SAME.
Whereas, The City Council of the
City of Glenwood Springs, Colorado,
did on the 23rd day of April, A.
D. 1914, enter into contract with The
Glenwood Light and Water Company
to purchase from said Company the
water system owned and operated by
said Company in said City, and did
thereafter authorize the issuance and
sale of negotiable coupon bonds of said
City to raise funds with which to pur-
chase sa plant, which said plant is
now owned and operated by said City
for fire, domestic and other municipal
purposes; and,
Whereas, Owing to the growth of the
City the present system is inadequate
for the needs OIL the City and its in
habitants, there being an immediate
necess ty for extensions and improve
ments to the said water system; and,
Whereas, There are rot sufficient
funds in the treasury of said City to
provide for necessary additions. exten-
sions and improvements to said water
works system, and the City Council
issue add tional coupon bonds of the
said City to supply the said City and
its inhabitants with water, as herein
after set forth; now, therefore,
BE 1T ORDAINED BY THE CITY
COUNCIL OF THE CITY OF GLEN
WOOD SPRINGS, COLORADO:
Section /. That for the purpose of
sa d City supply the said City and
struction, and extension of its system
of water works, the City of Gler
Springs shall issue its negotiable
coupon bonds in the aggregate amount
of Seventy-five Thousand Dollars
t$75,0 100000, consisting of seventy y-five
(75) bonds in the denomination of One
Thousand Dollars $1,000.00) each,
payable in lawful money of the I'm ted
States and bearing interest from and
after the first day of October, A. d.
1922, at the rate of four and three
quarters per centum (4A%) per an
mum, payable semi-annually on The LIST
day of April and the lst day of Octo-
ber, in each year, as evidenced by cou-
pons attached to said bonds. Sa- d
bonds shall be numbered in regular and
consecutive order, commencing with
number one az nd shall be absolutely
due and payable on the lst day of Oc-
tober, A. ID. 1887; SAID bonds and the
coupons attached thereto shall be pay
able at the banking house of Kountzc
Broth, RS, in the City OF New York, U.
S. A., said bonds shall bear date the
1st day of October, A. u. 1922, and
shall be gned by the Mayor, attested
! by the City Clerk under the official
seal of said City, countersigned by the
City Treasurer, and shall be recorded
in book to be kept by the sad City
Clerk for that purpose; all coupons at
tached to sand bonds shall bear the
original or fac-simile signature of The
Treasurer of sad City.
+. Section 2. Said bonds and the cou'
pons thereto attached shall be in sub
stantially the following form:
form of Bond)
UNITED STATES OF AMERICA,
STATE OF COLORADO,
Garfield County,