HomeMy WebLinkAbout85aVM.FMAS, there is now outstanding a bonded indebtedness
of t_r_e City of Pueblo amounting to one hundred and thirty
thousand dollars (:130,000.00) contracted in supplying water
to that portion of the said City lying north of the Arkansas
River, which bonded indebtedness is evidenced by one hundred
and thirty (130) bonds of the denomination of one thousand
dollars (41,000.00) each, dated the
day of
A. D. , and due and payable
the day of
and,
A. D.
viHEREAS, all of which bonds were issued by the said City
of rueblo pursuant to ordinance passed at the request of the
Trustees of the Pueblo Water ?corks pursuant to Article, XI, of
the Articles of Consolidation of said city; and,
WhIEREAS, there are not any funds in the treasury of said
City of Pueblo available for the payment of said bonds; and,
'MEREAS, the Council of Pueblo has, at the request of the
Trustees of the Pueblo Water ;forks, submitted the question of
refunding said indebtedness and of issuing refunding bonds
therefor in the sum of one hundred and thirty thousand dollars
(4130,000.00) , at a regular election of the officers of said
City, to a vote of 'such qualified electors of the City
Pueblo residing in that portion of said City lying North of
the Arkansas iiiver, as had paid, in the year next preceding
said election, a property tax therein, which said election
was held on the 4th day of November, A.D.' 1919, and at which
eledtion a Majority of those voting upon the question, by ballot
deposited in a separate ballot box, voted in favor of said
refunding; now, therefore, be it
RESOLVED, by the said Trustees of the pueblo Water Works
that the Council of Pueblo be, and it is hereby requested,
2
pursuant to Article XI of the Articles of Consolidation of
said City and the Statute in such case made and ?)rovided,
to pass an irrepealable ordinance providing for the issue
of refunding bonds in the sum of one hundred and thirty
thousand dollars (4130,000.00) for the objects above stated,
said bonds to be issued in the name of the said city of
Pueblo for the use and purposes set forth which said ordinance
shall be irrepeaiable, until. the indebtedness therein pro-
vided for shall be fully paid, and shall provide for the
levy of taxes, upon the taxable property situate in that
portion of the city of Pueblo lying north of the ,;rkansas
niver, for the payment of the interest on said bonds as the
sa:e shall become due, and for the payment of the principal
of said bonds within the time limited for such bonds to run,
and shall provide further that upon the negotiation and st.le
of said refunding bonds, the proceeds shall be forthviith and
only applied to the payment of the principal of the bonded
debt so to be refunded, but purchasers of the refunding bonds
shall not be held responsible for any misapplication of the
funds derived from the sale of said bonds.
That said ordinance shall, in substance, provide further
as follows:
Said bonds shall be entitled "tefunding Water Bonds ",
and shall be in the denomination of one thousand dollars
(41,000.00) each. That the term of said bonds shall be for
the period of fifteen (15) years from the day of
A. D. bearing interest at
four and one -half percent per annum; payable semi- annually
on the days of and
the principal of said bonds being payable fifteen years after
date. That said bonds shall be signed by the Cor=.ie.sioners
f
of Pueblo and attested by the Clerk of said Jity; the intexest
-3-►
coupons of said bonds shall be signed by said Clerk or by
his fac- simile engraved signature.
That said bonds shall contain an express recital that
they are issued for the purpose of refunding outstanding
water bonds of the said City of Pueblo issued for an indebted-
ness contracted in supplying crater to that portion of the
said City lying i4orth of the Jlirkansas hiver.
That the entire expense of printing and .:egotiating said
bonds, and all other ex_)enses incident thereto, shall be borne
by the ` rustees of the yueblo later t.,orks
1 hat said bonds when issued, shall be negotiated by said
Trustees and the proceeds thereof applied by said Trustees for
the purpose hereinbefore set forth, and said ordinance shall
also provide the doing, and causing to be done all things
necessary and proper for the creation of a valid indebtedness
as aforesaid.
TRUSTEES OF THE PUEBLO WATER WORKS