Carbon County news., 1936-06-19

. WHEREAS, the City of Red Lodge
in Carbon County, Montana, has here
tofore issued and has now outstanding
indebtedness described as follows:
$4,000 Funding Bond, dated Jul!
. \ LIST, 1929, bearing interest at th'
rate of 5h% per annun, mum
nv bered ! due July 1st, 1949, being
Nd part of a. total authorized issue
MA: Of $34,000.00; and
WHEREAS, all of said above de-
scribed bonded Indebtedness was duly
and legally issued and has been .anC
is now the legal obligation of the SAID
City Of Req Lodge, for the prompt
payment Of the principal of and in.
terest on which the full faith anG
credit of said City are pledged, anG
none of said bonded Indebtedness has
ever been adjudicated to be invalid
ana no litigation is now pending OF
threatened, ana never has been had
questioning in any manner the vail
ld1ty OF any of said Indebtedness OF
the power of the said City of Red
Lodge to incur the same and issue
bonds in evidence thereof: and
WHEREAS, it is now possible for
the City of Red Lodge to issue and
outstanding bon d indebtedness,
which Refunding Bonds will bear in
terest at the rate of 40 per annum,
thus effecting very substantial saw
ing to the City of Red Lodge; and
u WHEREAS, there is no money in
the treasury of said City available for
payment Of the principal of said
bonded Indebtedness, and it is ac-
cordingly desirable and to the best
interests of said City to issue it's 40
Refunding Bonds to pay same; and
WHEREAS, said outstanding bond
ed debt has been duly called for pay
ment, all in the manner and form as
by law required:
Is hereby resolved by the Council of
the City of Red Lodge, Carbon Coun-
ty, Montana, as follows:
Section /. That for the purpose of
refunding $4,000 outstanding bonded
Indebtedness of the City of Red Lodge,
hereinabove described in the pre-
amble to this resolution, there are
hereby authorized and there shall be
issued the negotiable Refnndfng
the sum of $4,000, dated July 1, 1886,
in the denomination of $1,000 each,
numbered from to 26 inclusive, due
serially in numerical order $1,000 on
July 4 in each of the years 1887 to
1912 inclusive, and $4,000 on July l
in each Of the years 1943 to 1852 in
on said bonds shall be payable in law
ful money of the United States of
America, at the office of the City
Treasurer, in the City Of Red Lodge,
Section 2. That said Refundfng
Bonds shall be signed by the Mayor
Of the City Of Red Lodge and by the
by the City Clerk, with the corporate
seal of said City thereunto affixed,
and the oupons attached to said
bonds shall be signed by the Mayor
and Treasurer and attested by the
City Clerk, by their respective fac
simiie signatures. which officials, by
adopt as and for their own proper
signatures their respective facsimile
signatures appearing upon each OF
said coupons.
Section 5. That said bonds and
coupons and certificate of registration
shall be in substantially the following
tFoRM OF BoND)e
UNITED STATES OF AMERICA
STATE OF MONTANA
COUNTY OF CARBON
CITY OF RED LODGE
REFUNDING BOND
KNOW ALL MEN BY These THESE
That the City of Red
Lodge, in Carbon County, Montana,
/ duly incorporated and existing
corporation of the State Of
Montana, for value received acknowl- |
edges itself indebted and hereby |
promises to pay to the bearer hereof
iS..'.~, "' with interest on said sum from |
he date hereof until paid at the rate |
# Four Per Cent (4%) per annum' |
payable January /, 1887, and semi AN.
lually thereafter on the first days OF |
January and July in each year. upon |
,resentation and surrender of the in
crest coupons attached hereto, as |
hey severally mature. Both principal |
# and interest upon this bond are |
payable in lawful money of the |
United States of America, at the |
pffice of the City Treasurer, In the
Iity of Red Lodge, Montana. For the
,rompt payment of this bond, both |
principal and interest, as the same
,ecome due, and for the levy of taxes
therefore, the full faith and
redit and resources of said City OF
aed Lodge are hereby irrevocably
lledged.
This bond is issued by the City
f Red Lodge in conformity with ana
ion and Statutes of the State of Mon
ana, particularly Chapter 100 Of the
session Laws of the Legislative As
embly of the State of Montana, 1881,
nd all other laws thereunto enabl-
ng, and as authorized by a resolution
4 the City Council Of saiG City duly
dopted, approved, recorded and pub
Ished for the purpose of refunding q
Ike par principal amount of bonded
of said City heretofore
n all respects legally issued and con-
tituting legal, valid ana olndng
Indebtedness of said City, all as de-
cribed in that certain resolution pur-
uant to. which these bonds were
And it is hereby certified and re-
tied and represented that all acts,
onditions and things require by the
and Laws of the State
f Montana to be done precedent TO
nd in the issuance of this bond ana
he issue of which it forms a part:
nd precedent te2and in the issue OF
1lich it forms apart, and precedent
o and in the issue of the indebted
ess hereby refunded, We're ana nave
cen properly done, happened and
cen performed in due time, form
nd manner as by law required; that
he Indebtedness hereby refu@nded @ ts.s Was |
valid, subsisting and legal obl1gatlon
f said City of Red Lodge; and that
he total Indebtedness of said City,
1cluding this bond, does not now, ana
i'd not at the time of the incurring
( the indebtedness hereby refunded,
such indebtedness, exceed any
institutional or statutory limitation;
nd that due provision has been made
Dr. the levy and collection Of an an
ual tax sufficient to pay the interest
ereon and the principal hereof as
m TESTIMONY WHEREOF. the
ity of Red Lodge, Carbon County,
Iontana, has caused this bond to be