Ordinance No. 141
Electric Light Ordinance
An ordinance authorizing the issuance of bonds of the City of Troy for the purpose of constructing and installing an electric light system in the City of Troy, Doniphan County, Kansas, and for the purpose of purchasing and erecting an electric line for transmitting and furnishing electricity for said electric light system.
Whereas, at an election heretofore held in the City of Troy, Doniphan County, Kansas, on the 24th day of March, 1910, a majority of the legal voters voting at said election voted in favor of the issuance of the bonds of said City to the amount of Fifteen Thousand Dollars ($15,000) for the purpose of purchasing, constructing, erecting and installing an electric light system in said City of Troy:
Now, therefore,
Be it ordained by the Mayor and Councilmen of the City of Troy, Doniphan County, Kansas:
Sec. I. That there be issued by the City of Troy, Doniphan County, Kansas, the bonds of said City in the sum of Fifteen Thousand Dollars ($15,000), which bonds shall be issued
July 15th, 1910, and bear interest at a rate not exceeding five (5) per cent per annum, as hereinafter provided, and which interest shall be payable semi-annually; that said bonds shall be payable in twenty (20) years from the date thereof, but with the option reserved by said City to pay one or more of said bonds at any interest-paying time after paying the lowest numbered bonds first, and thereafter paying the remaining lowest numbered bonds first.
Said bonds shall be issued in denominations of Five Hundred Dollars ($500.00) each, with interest coupons attached, and shall be payable at the fiscal agency of the State of Kansas, and said bonds shall be substantially in form as follows:
Know All Men by These Presents, that the City of Troy, Doniphan County, Kansas, acknowledges itself to be and for value received promises to pay to the bearer the sum of Five Hundred Dollars ($500.00) lawful money of the United States of America, on the fifteenth day of July, A.D. 1930, with interest thereon at the rate of ___ per cent per annum, payable semi-annually on the fifteenth day of July and on the fifteenth day of January of each and every year, and upon presentation and surrender of the annexed interest coupons as they severally become due.
Provided, however, that the said City of Troy, Kansas, hereby reserves the right and privilege of paying said bond at any interest-paying period, the lowest numbered bond being paid first.
Both principal and interest of this bond are hereby made payable at the fiscal agency of the State Treasurer of the State of Kansas, and for the prompt payment of this bond and the interest thereon at maturity thereof, the full faith, credit and resources of said City of Troy are hereby irrevocably pledged.
This bond is one of a series of thirty (30) issued for the purpose of purchasing, constructing, erecting and installing an electric light system in the City of Troy, Doniphan County, Kansas, under the authority conferred by the laws of the State of Kansas, and authorized by an election duly called and held in said City of Troy on the 24th day of March, 1910, in pursuance of Chapter 101 of the Laws of 1905 of the State of Kansas.
And it is hereby certified and recited that all acts, conditions and things required to be done precedent to and in the issuing of this bond have been done, have happened and have been performed in regular and due form as is required by law; and that the total indebtedness of the City of Troy, including this bond, does not exceed the legal and statutory limitations.
In testimony whereof, this bond has been signed by the Mayor of said City of Troy, countersigned by the City Clerk, with the corporate seal of said City hereto affixed, this ____ day of __________, A.D. 1910.
Countersigned:
L. O. Hathaway
City Clerk
O. E. Winger
Mayor
Sec. II. This ordinance shall take effect and be in full force from and after its publication in the Weekly Kansas Chief.
Passed and approved May 6, 1910.
(Seal)
O. E. Winger
Mayor
Attest:
L. O. Hathaway
City Clerk