The Glenwood post., 1924-01-10

inclusive, TAX sufflcient to pro-
duce the sum of $3,712.5O, being
$3,O00,OO for principal and $712.50
for interest;
When collected said taxes shall be
kept by the Treasurer of said City in
a separate fund to be known and des-
ignated "Water Bonds, dated January
LIST, A. d. 1924, Interest and Sinking
Fund" and shall be applied solely to
the payment of the interest and prin.
cipal of said bonds, hereby authorized,
when due, so long az any Of said bonds
or interest coupons thereto appertain-
ing remain outstanding and unpaid, but
nothing herein contained shall be so
construed as to prevent the said City
from applying any other funds that
may be in the City Treasury and avail
able for the payment Of said interest
or principal, as the same respectively
mature, and the levy or levies herein
provided for may thereupon to that ex-
tent be diminished; and upon the pay
ment Of the principal of any of the
bonds issued hereunder in said manner,
or by the use Of the sinking fund here
in provided fory the levy or levies
herein provided for the payment Of
interest may to the extent of the inter
ent on the bonds so paid be dimin-
ished.
And the sums hereinbefore provided
for to meet the interest on said bonds
and to discharge the principal thereof
when due, are hereby appropriated for
that purpose, and said amount for each
year shall also be included in the an
nual appropriation bills passed by the
City Council Of said City in each year,
respectively.
Section 5. It shall be the duty Of
the City Council of said City, annually,
at the time and in the manner provid-
ed by law for levying other City taxes,
if such action shall be necessary to ef-
fectuate the provisions of this ordi-
nance, to ratify and carry out the pro-
visions hereof with reference to the
levying and collection of taxes; and
shall require the officers of and for
said City to levy, extend and collect
such taxes in the manner provided by
law for the purpose of creating a fund
for the payment of the principal of
said bonds as hereinbefore specified.
Section g. All ordinances, by-laws
and regulations of the City of Glen
wood Springs in conflict with this or.
dinance are hereby repealed.
Section 7. After said bonds are is
sued this ordinance shall be and re-
main irrepealable until said bonds and
the interest thereon shall have been
fully paid satisfied and discharged, as
herein provided.
Section s. That, whereas, the City
of Glenwood Springs is without wa
ter works system adequate to supply
the inhabitants thereof with water for
fire and domestic purposes, an emerg-
ency is hereby declared to exist and
this ordinance is necessary for the i'm
mediate preservation of the public
peace, health. and safety.
Section g. This ordinance, after its
introduction and reading, shall be pub
lished in full in The Glenwood Post, a
newspaper of general circulation pub
lished in the City of Glenwood Springs,
in its issue of January 10, 1924, and
after its final passage, shall be record
ed in a book kept for that purpose, be
authenticated by the signature of the
Mayor and City Clerk, shall be pub
lished in The Glenwood Post, news
paper published within the limits of the
City of Glenwood Springs, and shall
take effect and be in force upon the
expiration of five (5) days after it
has been so published. Il
Introduced, read and ordered pub
lished, this 9TH day of January, A. D.
1924.
PASSED, ADOPTED, SIGNED AND
APPROVED, this :. day of -. -. :,
A. D. ......
tSeaD Mayor.
-At'eSt'
C:Ax.