HomeMy WebLinkAbout~Master - Providing for the Issuance of $41,500 City Building Bonds 4
',—Bonds Nos. 1 to 10 both numbers in A_MES, I01 4
elusive $5 000, at an interest paying On the first day of ... ... .....
CRDI'�ANCP ' O. 2 i j y 19..,, ,the Treasurer of the City of
period on or after the first day of July,
n
Ali. Ordinance providing for the is. 19p0, Allies, Iowa, will pay to bearer, -_
ance of $41,500 city building bonds. , TWELVE DOLLARS AND FIFTY
11'hcreas, The City of Anies, in the Bonds Nos. 11 to 20, both numbers
inclusive, $5,000, at any .interest pay- CENTS, at the banking house of Geo,
county of Story, state of Iowa, now is. ing period on or after the first day of _I. Bechtel & Company, Davenport,
<nid was at the time of the happenings Iuly, 1925, and Iowa, for semi-annual interest on its
hereinafter mentioned, a City of the Bonds Nos. '1 to 30, both numbers city building bond, dated July 1, 1915 i
second class, duly organized and exist inclusive, 55,000, at any interest pay• No
ing under and by virtue of the laws me
and constitution of the state of Iowa; 1 ng period on or after the first dayJuly, 1930. + Clerk of the City of Ames
and Sec. 2. The bonds hereby authorizc:,l Sec. 3. The Mayor and Clerk of said
Whereas, The City Council of said ; shall be in form substantially as fol- City be and are hereby authorized, em-
City heretofore, in pursuance of sec lows, exept that the words "or at the powered and directed to have prepared
c
tions 741-j, et seq., of the Supplement option said City before-last named the blank bonds in accordance with
to the Code of Iowa, 1901, as amended,t this ordinance. Said bonds shall be
approved contracts, complying with the 1 date at any interest paying period oii
or after the first day of July, 19,.," signed by the _Iayor and attested by
taw in all respects, for the erection ofe shall be omitted from bonds Nos. 31 to the city clerk, with the seal of the
a city building, and legally called au-- 83, both numbers inclusive. city affixed. The interest coupons
election and submitted thereat, to thee (Form of Bond) thereto attached shall be executed with
voters of said City, to be by them voteda UNITED STAPES OF AMF.RICA, the fac simile signature of the cit;,
upon, the proposition of adopting said a, clerk. Said bonds shall then be issue
contracts, and provided for legal suf_ STATE OF IO`OF COUNTY OF
r STORI', CITY OF AMES, CITY and delivered to the purchaser there-
ficient, and timely notice of said elec-•- f of, and thep roceeds thereof shall be
BUILDING BOND.
Lion; and e The City of Ames, in the State of immediately applied in paymfrnt :or
Whereas, At said election legally 3 Tovsa for value received, promises to I said city building.
ineltl and conducted on the 17th day of f pays to bearer,FIVE HUNDRED DOL-I Sec. 4. In pursuance of sections ?11-
_Iay, 1915, pursuant to thirty clear r ARS, lawful money of the United j, et seq., of the Supplement to the
days' legal and sufficient notice of said Code of Iowa, 1913, as amended, there
States of America, on the first clay of ,
election and of the time, purpose and i-I July, 1M. 5, or at the option of said is hereby levied and assessed and there
voting precincts and respective polling;i City before last named date at any in- shall be collected a direct tax of three
ptaces thereof, dull given I public i I terest paying period on or after the mills on the dollar upon all the taxable
tion once each week, all in conformity-i first day;of July, 19..; with interest property within said city, for current
with law and the orders of said coun,I oil said sum from the date hereof until; year, and a tax of three mills for each
ell, a majority of thev oters of said;i paid, at the rate of five per centum` succeeding year until both principal
City, voting thereat voted in favor of per annuni, payable semi-annually on I and interest of the indebtedness evi- ;
said proposition, which was duly car- th
l e first days of January and July in denced by the bonds hereby author-
ried; and each year, upon presentation and sur- !zed are fully paid and discharged;
Whereas, The Council of said City,' render of the interest coupons hereto this section to confirm and reaffirm all
heretofore, by an ordinance duly attached. Both principal and interest actions heretofore taken, consistent '
passed, approved, and published, en- payable at the banking house of Geo. herewith, in regard to such levies.
titled "Ordinance No. 270, An Ordi- If. Bechtel & Company, in the city of Sec. 5. Said taxes sliall e collected
nance providing for the levying and Davenport, state of Iowa. each year in the same time and ivan-
collection of a taf to be continued from This bond is one of a series of bonds ner as, and ,vith and in addition to all,
[year to year for a sinking fund for a issued by said city pursuant to and in taxes in and for said city, and when
city hall," has duly levied a tax of in strict compliance with the provi- collected shall be converted into a since
three mills on.the dollar upon all the sions of sections 741-j et seq., of the ing fund to be known as the "City
taxable property within said City for Supplement to the Code of Iowa, 1912, iBuilding Fund, Series 1915," %vhieli
the current year, and a like rate of tax shall be held separately and apart in 1
and in conformity with an ordinance ,
C for every succeeding year, to provide a. of the council of said city, duly passed, i trust for the payment of the principal
sinking fund for the payment for said approved, and published, for the pur- and interest of the indebtedness repro- r
!City-building, said tax to be contlnued. senled by the bonds hereby- authorized, t
annually until the entire amounts due pose of providing For payment for the ti
land shall be used for no other purpose
on said city building, both principal erection of a city building, in conform- I whatever.
and interest, are fully paid and dis- RY with contracts therefor, duly ap- I Sec. 6. Provisions to meet thr� re-
charged; and no obligations have as proved by the city council, and duly quirements of this ordinance hall he
yet been issued in anticipation of said adopted by a majority of the voters of included each year in tiie annual ap- ve
levies; and no other levies besides the said city, voting at an election legally propriations and tax levies; and said 1
aforesaid levies have ever been made called by said council,and legally held, City hereby- obligates itself annually,'
under section 741-j of the Supplement pursuant to legal, sufficient and timely in due time, manner, and season, to
dilly published.to the Code of Iowa, and there are no notice, perform and take all action authorized
:obligations of said City outstanding And it is hereby certified and re- or_-required by the laves and consti-(
(other than the aforesaid contracts) cited: That all acts, conditions, and tution of the state of Iowa to carry out
issued for city building purposes or things, required by the laws and con-under section 741-j of the Supplement the provisions of this ordinance' stitution of the state of Iowa to be and
,this ordinance shall be irrnce; and
to the Code or any other law of like' done precedent to and in the issue of effect; and this-bond, were and have been properly until both principal and interest of the �'► 1
Whereas, It is now deemed advisable' had, done, and performed in regular 'indebtedness evidenced by the bonds
and due form as required b law; that hereby authorized have been fully paid
fto confirm the levy of said taxes and y and discharged.
this bond and the interest thereon are Sec. 7. The City Clerk shall in due (�
issue bonds e the sum of $4 formed
pay-, payable from thep roceeds of a sut-
sableaid front the sinking fund formed by time, manner, and season certify to the U �h
said tales, in order to secure the funds ficient continuping sinking fund tax,
which has been duly levied on all the county auditor the taxes herein pro-
to pay suns due from said City on taxable property within said city, and vided for.
aforesaid contracts; it is therefore which is pledged solely for the pay- Sec.S. That all ordinances and r�so-
Ordained, by the City Council of the ment of the principal and interest of lutions or parts of ordinances and reso
City of Ames, Iowa: the indebtedness evidenced by said lutions, in conflict with this ordinance
Section 1. That there are hereby series of bonds, and which does not are lierey repealed. I
authorized to be issued eighty-three exceed the rate authorized b law; that Sec. 9. This ordinance shall take
(83) negotiable city building 'bonds of the faith, credit, and revenues, and all effect and be in force from and after
said City, 1 of five hundred dollars the real and personal property of said its passage and publication, as by stat-
i ($500) each, numbered consecutively ute provided.
from one (1) to eighty-three (83) both city are irrevocably pledged for the Passed July 7, 1915.
numbers inclusive, to be dated the first . collection and application of said tax :
each year, in YuIi payment of the rill- PARLEY SHELDON,
clay of July-, 1915, each bearing inter- p Attest:
a cipal and interest hereof: and that the y
est from and after the date thereof total indebtedness of said city, includ- A. B. _ AXWELL,
until paid, at the rate of five per cen- ink this bond, does not exceed the con- City Clerk.
tum per annuni, payable rm!-annu stiutioual or statutory limitations. This ordinance is hereby approved 1
ally on the first days of January and this 7tli day of Jl 1915
July, in each year, such interest to be In testimony whereof, said City, by uy, .
,r
its Council, has caused this bond (SEAL)
evidenced by negotiable coupons at-
tached to be:; igned by its Mayor, and at- PARLEY SIIELDO�I, ;
to •each bond; both principal fittest: _Mayor.
and interest to eb payable in lawful t'sted by its Clerk, with the Seal
of the Cite' affixed. as of the first A. B. til err. ELL,
money of the United Stair,: of America,: dily' vt Tul,• City (1erk.
It tliN bs kin hou> of Coo M. t ,h- 1)1,.
i Pribii.;hcd July 8, 11)15.
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