HomeMy WebLinkAboutOrdinance No. 187
GWIXA11FCX ]m, aZ
W"MIZIY4 2= ZMMTIGX s 1"WC5 AXD MLIVARY aF
CMW IN PAMMI M W TW AND WWV '1 a IF
91=AL DX'SMCT me. 991 OF =3 CITY ON
3MMAaAs i AND PMIBMSe TOIM.19 MQUIYAZIOR
Aim MA"J TY RAM ®p 0902 8006.
• AC.. an ft" 3* 191 he City Council of the city
df &Wol, sonteaa« pa" a",, flay ads tee posolation po « 164
ow"Ung Cpseial 1proremsmt D1e4tiet Boo 29 of said City
.4f Lsmrel? for the 'pwloise of emettucting a rive (I) foot
± nes.ate sidewalk and oomorete ourb in said City and District.
WJMRZi, it. Is provided is the resolutions oardiaa?aeea
wd proceedings heretofore passed sed hed by said MY
Uaaeil 10 e0awee44M .arlth the creation of said ppeeial
a t 311,94*1 t that.. at for said weirk a" . eve-
amats mall be. =A; !',, a3 o ome nt 31194siot Do?
U. U& Issued assiftd °:? Istridt; "I of rthich hrre fatly
ap sr lpem boas "&, oardisaaces hear.eteforo
=116d'ead adop b ' paid City Council, sand from the -
tsas Of the aeetL of eaid Gity Cowacils reference is
of whloh is herel , 4wesely made;
mr rya.
Wi i't' GMAXIM by I= CITY CQIIYCIL Cf .M
MIT Qa LALTM.o !'ANAI
M 1. 'dhat ter the purpose of providing the
e1?oee®swry ids. with whieh to pay ter the work said rove-
?rps 4a ?s1pl Zore+aoat pistriet No., 29. of the City_
4! ly del wat?a we laoludi?rg ea. AW, S le ponses sand al.
In*, demtalso Ahseo she?1.1 ,be oss+m?tdd sad issued
t9W b1e oars undo of ssrii Ap lmd Vement istOct
?p , In the i*oi
T-q- 3&.0:5 sous of
e , oa e o s.
d ooaseestively frem
IT; both ia01-seive. laid bomde. si?aa.1 be rodeemble
a 4t sa. of olio city, .at- my ., them are funds to the
,,:pia said /???: .adyie# ]ts. 29 fot the rede?aptian
;Ahoseof« ?aeh !t eai# tis An shell Uir interest at the
ft1o 6t sit per. deat per anows from the date of its
edtertiss, interest payable annually on laanary let of
d ,web Y"T • iii iatsarost eospeasr in the torm herainatter
pro?riied? shall be attaeh4 to oaoh. of said beads* ftid bonds
i. be is"Malp dgterl attd d•? ? ?? tip" to time an
soy be wid ioproi?esents
aeewreo?.
In solo pistrldt, as, the we* progresses.
SECTION 2, That the denomination of each bond issued
is payment for the work and improvements in said Special
Improvemont District Ro. 29 be, and the same is hereby fixed
At the sum of One Hundred Dollars ($100.00); provided, how-
ever, that the last Uosd to be so issued shall tae in such
sins as shall represent the balance due for said work and
Improvements less than One Hundred Dollars ($100,00)o
SRCT101 30 That the maturity date and time of pay-
ment of each and all of said bends shall be the let day
of Anuary, 1929,E subject, however, to redemption as pro-
vided in the fern of bond in this ordinance hereinafter
contained.
MOTION 4. That each of said bonds shall be sub-
stantially in the following form:
N
lumber
United States of America
State of Fontana
CITY OF LAU=
OPRCIAL WROV T DISTRICT NO. 29
Dollars
D 0 R D
Sir per cent, payable annually
issued by the City of Laurel$ Montana
TIM MAOMOR 01 TIM CITY Oa LAUD, UDNTANA, will
t , or bearer,
the er o ae r no rs as author-
iced by Resolution No. 164 as passed on the 3rd
day of gune., 19190 creating special Improvement
District To, 29 for the construction of the improve-
meats and the work performed as authorised by said
Resolution to be done in said district, and all
laws, resolutions and ordinances relating thereto,
In payment of the contract in accordance therewith.
The principal and interest of this bond are payable
at the office of the city Treasurer of Laurel,
Montana. This bond bears interest at the rate of
six per cent (b%) per annum, from date of registration
of this bond as eapresaed herein, until the date
called for redemption by the City Treasurer, The
interest on this bond is payable annually on the
first day of January of each year,.unless paid
previous thereto and as expressed by the interest
coupons hereto attached, which bear the engraved
faosimile signature® of the Nayor and the City Clerk.
This bond is payable from the colieotion of a special
tam or assessment which is a lion against the real
estate within said Imp"Vemont District, as described
in said Resolution hereinbefore referred to. This
6004 is redeemable at the option of the City at any
time there are funds to the credit of said Special
IWrovemont District Bond for the redemption thereof,
and in the manor provided for the redemption of
the same, provided, however, that payment shall not
be made later than such a tine as will permit of the
levy of 10 annual consecutive tar levies after the
date of the issuance hereof.
IT 13 MWBY MTIFIND A1® AMCITMAs That all
things required to be dome precedent to the
Issuance of this bonds have been properly done,
.
sued and been performed in the manner prescribed
trThe laws of the State of Montana and the resolutions
and ordinances of the City of Laurels Montana,
relating to the issuance thereof.
Dated at L urels Xontana, this ?
day of 9 1919.
CITY OR LAM ML, WNTANA,
By Chas. Davis$ Mayor.
Attest:
Jas. H. Jordan$
City Clerk. "
SMCTICK 5. That the interest coupons to be attached
to sash of said toads shall be substantially in the follow-
ing fora;
"
Coupon No. .
an January lots 192 , The Treasurer of the
CITY OB LAl)M, lI"D1TAS[A, will pay to the bearer
the sum of six & no/100 Dollars at the office of
said Treasurer in Laurel, Montanan out of the funds
of special Improvement District No. 29s, being the
interest them due on Band No. in special
Improvement District po. 299 Wovided, however, if
said Bonds together with accrued interest thereon
to the date called for its redemption has heretofore
been paid under the option reserved in said bond,
them this Coupon shal1 be null and void.
Chas. Davis,
Mayor.
Jas. H. Jordan,
City Clerk.
$6.00 "
S=ioA 6. That each of said bonds shall be signed
by the Mayer and pity Clark of said City of Laurel and be
iWessed with the corporate seal of said City, and each
of sail interest c4upons,shall bear the engraved facsimile
signatures of said Mayor and City Clerk, and said officers
are hereby authorlsot and directed to cause said bonds and
coupons to be prepared and to execute the same for and on
behalf of said Special Improvement District Po. 299 in
accordance with the proceedings heretofore had in connection
with the creation of said District.
BNOTIOR ?• That a continuing direct annual tau, in
the form of a Special Assessment be, and the sane is hereby
levied upon alk the taxable real estate within the
boundaries of said Special Improvement District No. 29, in
said City of Laurel, in addition to all other taxes and
assessments thereon, which Special Assessment shall be in an
aaount suffieient to pay the interest on said bonds as the
same becomes due and to discharge the principal of said
bonds at the m6turity thereof.
SZCTIOIF?%8. That all money derived and received
from the collection of said 8ppeial Assessment shall be
deposited by the City Treasurer to the credit of Special
Improvement District P o. 29 of said City of Laurel, and
the same shall be paid out by the City Treasurer for no
purpose other than in payment of the principal and interest
of said bonds.
BDCTIOw 9. This ordinance shall take effect and
be in full force from and after the date of its passage and
approval. All ordinances and parts of ordinances in can-*
fliet or inconsistent with this ordinance are hereby
repealed.
Passed by the City Council and approved by the
Mayor this 5th day of .Au s 1919•
ATTEST: .Al, IL WAS.
city Clerk.
CUD. Davi 10 or.
-/7--