The Wolf Point herald. (Wolf Point, Mont.) 1913-1940, 1928-09-14

A"
NO. 1852

TON AND DELIVERY BY
THE CITY OF WOLF POINT
IN ROOSEVELT COUNTY,
MONTANA, OF ITS NEGOTI
ABLE COUPON BONDS IN
THE AGGREGATE AMOUNT
OF FIFTY ONE THOUSAND
DOLLARS (s51, 0O0.) BEARING
INTEREST AT THE RATE OF
FIVE AND ONE QUARTER
PER CENTUM (5A Ga PER
ANNUM, PAYABLE SEMI-AN-
NUALLY, TO BE DENOMIN-
ATED 'REFUNDING CITY
BONDS FOR THE PURPOSE
OF REFUNDING A LIKE
AMOUNT OF REDEEMABLE,
OPTIONAL, AND OUTSTAND-
ING BONDED INDEBTEDNESS
OF SAID CITY, CONSISTING
OF SEVENTEEN THOUSAND
DOLLARS s17,OO0.) WATER
BONDS, DATED MARCH /,
1917, NINE THOUSAND DOL
LARS $4,000 WATER MAIN
EXTENSION BONDS, DATED
SEPTEMBER /, A. D. 1918, AND
TWENTY FIVE THOUSAND
DOLLARS (S25, 000.) SEWER
BONDS, DATED SEPTEMBER
/, A. D. 1918; PRESCRIBING
THE FORM OF SAID BONDS,
FIXING THE DATE AND DIES
IGNATING THE DENOMINA-
TION THEREOF, RATE OF
INTEREST, MATURITY AND
PLACE OF PAYMENT OF
SAID BONDS, PROVIDING
FOR THE LEVY OF A DIRECT
ANNUAL AID VALOREM TAX
UPON ALL OF THE TAXABLE
PROPERTY IN SAID CITY IN f,
ADDITION TO ALL OTHER
TAXES, SUFFICIENT TO PAY
THE INTEREST ACCRUING
ON SAID BONDS PROMPTLY
WHEN AND AS THE SAME
BECOMES DUE, AND ALSO
TO CONSTITUTE A SINKING
FUND SUFFICIENT TO PAY
THE PRINCIPAL THEREOF
AT THE TIME OF THEIR
MATURITY; REPEATING ALL
ORDINANCES, RESOLUTIONS
OR ORDERS OR PARTS
THEREOF IN CONFLICT
HEREWITH AND DECLAR-
ING AN EMERGENCY:
Whereas, the City of Wolf Point
the County of Roosevelt in the
tate of Montana has heretofore
isued negotiable coupon bonds :
esignated Seventeen Thousand /
(S17, 000.) Water Bonds, 5
ated March 1, 1917, absolutely !
and payable March 1, 1897, {
ut redeemable at the option of I
aid city on Or after March 1, 1927, i
caring interest at the rate of 6
er cent per annum, payable semi {
nnually, comprised of Thirty I
our bonds, numbered consecutive +
from / to "a, both inclusive, of r
he denomination of Five Hundred :
o1lars (S500.) each; and Nine o
thousand Dollars $4,000 Water 7
ain Extension Bonds. dated Sep
mber 1. 1918, absolutely due and h
September 1. 1888, but re- i
at the option of said G
ity on or after September 1, 1928, c
interest at the rate of 6 /,
er cent per mum. payable semi n
inually, comprised of Eighteen n
,nds numbered consecutively =
ON / to IS. both inclusive, of :,
e denomination of $500. each; q
Id Twenty Five Thousand Dol E;
rs 1928, 000.) Sewer Bonds. dated n
,ptember 1, 1918, absolutely due II
ID payable September 1, 1898, n
it redeemable at the option of :,
id City on or after September 1,
%, bearing intrest at the rate of >
per cent per annum, payable
mi-annually, comprised of Fifty =
nds numbered consecutively
1m / to so. both inclusive, of the =
nomination of Five Hundred
,llars ($500.) each. Interest :
on said bonds has always
omptly been paid as it matured -
d no question has ever been :.
Ised in respect of the validity of =
Id bonds: and
all of said bonds above -
scribed are now redeemable,
and outstanding, and II
ere is not sufficient money to
! credit of said City applicable ~
the payment of any of said
nds; and 20
Whereas, in the judgment of the oe
y Council, to levy and collect a 20
for the purpose of paying any
said bonds would be a hardship -
| a burden to said city; and
Whereas, the Council deems it o.
Dedient and necessary in order
enhance, preserve and maintain %
credit of said, to issue, in ac-
dance with the laws of the 90
tie of Montana, negotiable cou-
bonds to be denominated RE -
ding City Bonds" in the aggre-
e principal sum of Fifty One ~,
,usand Dollars 1851, 000), bear