Free trader-journal and Ottawa fair dealer. (Ottawa, Ill.) 1920-1927, 1922-07-18
AN ORDINANCE

Authorizing the issuance of Veg,
Courtney Street and Hit Street ana
Spring Street Hin Bonds To the
amount OF Twenty Thousand Dollars
t$2O.OOO.OO) and providing for the pay
ment thereof.
BE 1t Ordained by the Council OF
The CITY Of Ottawa, Illinois:
section /. That for the purpose of
constructing a concrete road way on
west Courtney Street and Hit Street
III the City Of Ottawa. Illinois. and
for the construction OF a brick pave.
| ment with a concrete base on what Is
known as the hill on Spring Street
IN the city of Ottawa, Illinois. there
are hereby authorized to be issued
| twenty t20) paving bonds of One
| Thousand Dollars (Sl00000) each,
each to be dated August LIST, 1922, each
! bearing interest evidenced by cOu.
! pons at the rate Of five ca per cen.
tum per annum, payable semiannual.
| ~. TWO Thousand Dollars ($2.000.0O)
in amount Of said bonds shall become
due on the first day of August of each
! of the years of 1923, 1924. 1925. 1926.
1927. 1923. 1929, 1890. 1891 and 1892
Section 2. The bonds hereby au-
! thorized shall be substantially in the
| following form:
! United States of America, State of
Illinois. City of Ottawa.
| M '',,..'........
West Courtney Street and Hit
Street and Spring Street Hill Bonds.
100000
Know all men by these presents
that the City of Ottawa in the Coun.
ty of La Sale and State of Illinois.
acknowledges to owe and for value
received hereby promises to pay
, to bearer One Thousand Dollars
($1,OO0.00) on the first day Of August,
49,, with interest thereon from the
date hereof at the rate of five CO..
per centum per annum. payable semi
annually on the first day of August
and of February in each year on pre-
sentation and surrender of the annex
interest coupons as they severally be-
come due. Both principal and in
terest Of this bond are hereby made
payable in gold coin of the United
States Of the present standard of
weight and fneness at the First Ma
tional Bank in the City of Chicago
Illinois.
1his bond is one of a series of like
tenor except maturity issued for the
purpose of constructing concrete
road way on West Courtney Street
and Hit street in the City of Otta-
wa. Illinois, and for the cJnstruH
ton Of brick pavement with Il con
crete base on what is known as the
hill on Spring street in the city Of OF
tawa. H.. under the authority of Chap
ter XXlV OF the Revised Statutes of
the State OF Illinois, and of an ordi- |
nance of the City of Ottawa duly pas
sed and is further authorized by an
election duly called and held.
It is hereby certified and recited
that all acts, conditions and things !
required to be done precedent to and |
in the issuing Of this bond have been /
done, happened and been performed |
in the regular and due form as re-
CURED by law, and that the total in
'debtedness of the City Of Ottawa. in. |
Guiding this bond does not exceed |
he statutory or constitutional limi-
tations.
In witness whereof the City of OF
tawa, Illinois, has caused this bond !
to be sealed with its corporate seal,
signed by it's mayor, attested by its
clerk, and has caused the annex in-I
terest coupons to be executed by the |
fac smile signatures of said officers !
this first day of August, 1922.
......,.......... .'''''.'
Mayor.
Attest:
City Clerk
COUPON.
On the first day Of August February, |
10. 49,, the City of Ottawa, Illinois, |
promises to pay to bearer ...,..,..
ACKNOWLEDGEMENTS. Dollars |
S........,....l in gold coin of the
United States at the First National |
Bank in the City of Chicago. Illinois,
for interest due that day on its West |
Courtney Street and Hit Street and
Spring Street Hill Bond dated. 80.
.................., 3D..
no. .............
..,...,........... ....''.'...'.'.' /
Mayor.
Attest:
.'....s. =.
City Clerk.
Section 8. That for the purpose of
providing for the payments of the
principal and interest of the bond
hereby authorized as they respective
~ become due there shall be, and
there is hereby levied and there's shall
be collected direct annual tax up
on all taxable property in the City of
Ottawa. Illinois. sufficient to produce
the following sums for the following
years.
For the year 1922 the sum of $3450.00
For the year 1923 the sum of S2S50.00.
For the year 1924 the sum of S2750.00,
For the year 1926 the sum of s2650.0e,