HomeMy WebLinkAbout168aWHEREAS, by Section 3 of Ordinance No. 1083, entitled "An Ordinance
Providing for the Issuing of Public Way Bonds of the City of Pueblo, State of Colorado, and
Prescribing the Manner of Issuing Such Bonds and Ordering the Submission of the Question of
Issuing Such Bonds to the Qualified Tax Paying Electors of the City of Pueblo, t the General
Election on November 8th, 1921 and Providing the Manner of Such General Election ", passed
the 29th day of August, 1921, it is provided that the bonds therein authorized may be sold in
whole or in part, if, as and when the Council of Pueblo shall determine by resolution, and
WHEREAS, Seventy -Five Thousand ( $75,000.00) Dollars of said bonds, at par
value, are, unissued, and
WHEREAS, it is necessary to sell such unissued bonds, as the proceeds thereof
are needed for the purposes for which such bonds were authorized to be issued, and
WHEREAS, the City of Pueblo has sufficient funds on hand to purchase such
unissued Public Way Bonds, and such purchase of said bonds by the City, would be of more
advantage and a greater economy and more profitable to the City than to advertise and sell said
bonds on the public market, .
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF PUEBLO: That
a necessity exists for the issuance and disposal of $75,000.00 of Public Way Bonds authorized
to be issued in order that funds may be obtained by Pueblo which are needed for the purposes
for which such bonds were authorized, and
BE IT FURTHER RESOLVED that it would be to the best interests and benefit of
the City of Pueblo, and more economical and profitable to the City of Pueblo, if the City
purchases said bonds still remaining unissued, at their par value of $75,000.00 and
BE IT FURTHER RESOLVED BY THE COUNCIL OF PUEBLO that the money
required for the uses as specified in the said ordinance and through the vote of the qualified tax
paying electors of Pueblo be obtained through the immediate issuance and disposal of the
balance of the unissued Public Way Bonds, at their par value, amounting to $75,000.00, to the
City of Pueblo.
Introduced December 22, 1924
By John Jackson