Ordinance 297 - Water Supply BondsM
0 'R D I T,i A T! C B 110, 297.
(Introduced by Aldermaui EucIcinE-,harn)
AN ORDITTAITC7, TO PROVIDE OR THE IS,"MANCE OF b'P�175,0.,Cc
PONDS OT71" CITY GT' KALTc;7rj,, i�,CR HE 7IM1103E OF Q IDAHO
PURCHAS1340, 717, ',.'!A"7,R 1UPPLY A,�I) SYST77 OF 7TT7,
AM) 1,101,�TANA PW� ' 4M COTYPAIITY, TY -,s!,D TTIR,�kmTl 1"iTiml "7j,�T7M IS N01,7
' ' N 'ITAVTS, 9'O(',-1',MT1�R
RE'lVC, ST3PPT,11'3) TO SAID �'ITY AIND ITS I MA�-
WITIT Z-U,ll 1?70P-1,1TY hlOt UMM IN COTTIFiCTIOIT I "
IM-MITVITTI, AND FOR
11H711 PURPOSR 01, 11WKITIG 7717i�ITJ M� ,C75SA13-Y '7PAIRS AMP
FOR "'IEw AT TTPT TRIMING, 'STA-1011 AT -JD A TjE'Vr -RE';7PRVOIR
FOR SAID W.AT7R SYST71i,:
W117-MAS, on .August 26tri, 1913, Ordinance Jro, P92 of the
ordinances of acid City of Kalisnell, entitled: "An ordinance
providing for the holding of a special election uT)on the question
of whetTtev or not the indebtedness of the, City of Xalispel-1,
Montana, shall be increased over and nbovc, the three per cent
('3 per cents limit fixed by 1ctvs, 1,,y the issivance, of water bonds
' to t' ' " E, amount of One Hundred Seventy-five Thousand Dollars
to be ia�-,.ed for the -our-pose of purchasinr the water
syste7� now in use ,-.Lnc3 opera ion in ' they city of Kalispell,
z,ont,Ma, bar and throL:wh li.,,hich water may be, supplied 'to said city
,and its inhal-it.ants, �vr)d a water sLipply together :with
such property both real. and personal, as is now, ottned by the
Idaho and :Montana Pourer Company, the present owners of
said water system, both real and Per,-,On�l, as viill be necessary
for t-iie operation of s@-idl system; iNhj-ch water system, w4tex,.
Em
suprly and PrOT)e-ftY, thr, P-lid city o,,,,in and control and de-
vote t?°ie revenue:-, derived therefrom to the T)aymernt of the, debt
incurred t7-ierpfor for tlle rurpose of certain neceosary
rer-airs and nrovidinLr for new equipment at t'ne T)um1ArH,, station
:and
nd ne v resb�,.rvo_ - for Systerft", was
aiC anecam cctve; nd
a special election was duly notified anti h�116 orl
t 4e 26,t_',s day of 1913, ,is, P-r°ovidedl by said Crdina.nce
Sao, 292, calling the sa.-ne, Yml by law for holdj_rE, municipal
electioiiz in said city, and sadd c,lection was duly canvaazeld
and tac returns duly mlide; and,
TPMT+As, a, majority of tore votes cast at the said election.
vqei,e In favor of tie proposition to increase, the indebtedness of
the city of Kalisj,,ell, Montana, ovev and above t3he three T)er
cent (3 per cent) limit fixod by law, by the issuance of water
bonds of said city to the ar,110tint of (?ne !TurdrCd Sevcnty-five
Thousand Dollars ($1'75,CCC.CC) to be used, for the purpose of
eta cFae3isa a w,,ttcr sy'stpm, now in use ,and operation in the city
Cif' 'Kali°apcll, T�'ontana, 'by and throtic , h whiolh W,,itfr ma", be a'Up-
plied to said cit", its inhiatit,,iints, ujid accl-ui.ring a, w,itex
supply together with such property both real -.ind
noA,v owned by the Nort.1ler,n Idaio and 11ontana Fouver Company, the
rretient m.,;ners of said m-Lter syqtc.,,%, and -l. part of gaid vir_)Aer
system, as be neeecmr,,; for the operatlioa) of said ;,Ystem,
which s,-_tid system, water Pupply pan(!. property, said city sI1.111
own and, control and devote the derived the:tefrorl to
the ray')t of t,`- del't incurred therefor and for the Tmirpoce
of making certain rene�nary rej:air`, and providing for new
quipment at tie pun.rinf.,- station L,?,rjd, a new reeE,>rvoir for said
syste,.n.
77: " I T 0 T I 1_7 D .1, Y T 1 F-,,' C I T Y r. C) U?11 C 11, C, TP 1 ", I 111 C I T Y 0 P Its L I S PE L L :
section 1 That b unJe, of tlae City of Kalit,,ijja,
in the surll- of,' One Hundred and Seventy-five Thotisand Dollars
(05,COC,CO) f0l' tile pui'po,,F� of purenasing the water system now
in iasc rtn Cl o'Peration it' t"le city of Kalispell, by and
th.rouj'' %,hich water may r)e SUPpli0d to eiid city and its inhabi-
tzalts, and acq_uirl�11 a viater euY,ply together with such'projj(�rty
bot'a real and per,,,or ial, as i;'. now owned by the Rorthcrn Idaho
and ,Aontana Power Company, the pre-_ent owners of said water
sy6te.rr, 1.otb real and personal, a.8 will. bc neeee,-!,qry for the
ope-nn.tion of' an(l for Vne -rYurpo-e of making certain
1110cer'saxy repairs and pravidini; for new equipment at the pimp-
ing station and a nev:, reServOi-0 for said system, which said oys-
terr and qupr)ly ,aid city shall own and control and devote the
revenues derived therefrom to the payment of the debt incurred
the ref or, That said bonds shall be One 11undred Se-venty-five
(175) in num-,r, and be,.t- num�,,ero from 1 to 1755, britk-.. inelueive;
that said bondq shall be design -tilted "Water Bonds" and shrr11 be,
of the denor,,.ination of One Thousand Dollarp, Pach and
t,v, shall. 1,P raYable i,� x-,ol.d ruin of the TJnited States
of ATIerica of the rresenl, stz),ndard weiglit auid finene,;u. Said
bonds Tear interest at the, rate,of five, per
an num triers ahall be Fin)mi-nrnual interest coalprdns attached,
interest -,)' -iyabl(� in lawful =ney of the United
Stn.te7, of Amerion; and onicl bonds oh, -ill, be dja.ted thEi ist day
of July, 1915, and shall be redeemaIe -and payal-,le as follo,,vs,
Twenty-five Thousunc! f02,5,000,00) of said bonds,
numbered from one to "5 bot} incLu, ves, shall Lo, redeeinable
on and after the first Mly or Jujy, shall be Paid
on July lrt, 1923;
Forty Thotasand Doll4irs of said I.,ondq mvaber(-.A
froin 26 to 6,5 both. ireltzsivp, sliall'he redeeizi;,w.ble on _4nd after
t'P firs L day of July, 11,�2,`,, and shall be paid Oil July 13t, 11d28,
One Hun,�red Ten Thoi,isand DQ11,,,tx,,, (4G110,CCCXC`j of sai(" bonds,
rrurnrercd fa; -or:, 66 to 2 75 both irscltia. ivs shall -be redeemable on
and, rafter lac firF,,t day Of July,, and ,,hall to pa.id on the
firEA day oS July,
Section 2. Said bonds sl.iall be in subet,,;,ntiully° the follow-
ing form:
"IJNIT,'b'D S`'ATF'S 07 AMIPRICA, STATT OF CITY OF
laLISPTIML.
71 A T N R B 0 N T),
Interest Five (5) percent Payable Serni-annually.
No, . , . . , ,
$1,00C.00
For value receive, the City of Kalispell, a municipal
coryaoratiOn orpanized and existing, under the laws of the
State of i1dontanzi, hereby acknowledges it -,cif indebted and
promises to pay to the bearer on the first day of July, 19
One Th,>usand DoKaTn in Gold Coin of the United StLLtes cad
Am,crica, of t,ne Tre;-,.,ent standard weigkt and finene,,,-)s, with
intoros', thrpreon, in money of the United States at the,
rate of five -rer centum per ennum, payable semi -,annually,
Jt.3,nivary I -nd July 1, on rre,,ac-,atution and surrender of the
coupolin hereto attached a-, tlh.ey re:-,,pectivcly hecorric due, both
principal and interest teing payable at the office of the
City Treaoure- in th�l city of 'Kalispell, or at tine option of
th,c holder at "bank in the Ci ty of York, State of New
York, to be deni�.gi-x.ted by the said City Treasurer.
T.'rie Cit-y of Kalispell, L',ontanzi, the niaker of this bond,
rer,erveu the rig,"it to redeem, this Lond on and after the first
day of July, 19 , by paying, t1al a �e principnd accrued int-
erebt, ana in G&Wthc`sR;e shall to -alled in red
emption
before maturi Ly, a t.h.irty (ZC) days' notice��---kcluired by law
b sllaal-1 'Le:suchand .,,,hon :such notice ilas, eleln regularly and
properly �Piven and t'hc owner or holder of this bond fails to
pre ,,, -en t t.ai �,, i and for redempti on, the sanie shall to -Lear
intere,--t from nand after Vric date so fixed for rede.,,riptiQn.
This bond is one of spries of one hundred and selienty-
f ,ivc (1'?5) in numl-er, nun,cr:red con;,ecutively from. one (1) to
one hundred and -,Pventy-five (175), 'Loth inclusive, of the
denomination of one thousand dollars ($1000.Co) each, aggregat-
ing, ho. ts_mi of one hundredand seventy -fire t.1-iousand dollars
( 17 Or"C ) , i `!s-ued I or tae purpose. UIf ac'qui ring a --.vat,"— "."yrtem
and Supply, together with mach proj)erty both real and personal
as will be necessary for the operaLion of tirn.itd wa Lei- system,
to be o,.uned ,:and controlled by scaid city, and fur t."10 purpose
of .making certain necessary repairs and providing for new equip-
ment at the st.ation and a new Yoswwoir for slid sys&m,
unJer and in parsaance of a."Id in strict confofmity wits Vne
constitutim and laws of the State of Montuna, -nong
nUiers, Title III of Part IV of Vie Revised Codes of 1907, of
the State of Monhwa, and an Act of tho logisl-ati-Ve asse-,,-,bly
of said state entitled, "An Act relating to muaicipal Inle'r-,ited-
ness and repealiriv., Sections 497C, 49?1, 49-72, 4973, 4974, 4975,
4 97 6, 4977, 4978, 4C79, 493C, 41,181, of the Political Code af
the State of 11ontnialn as rypr"ed 1arc11 0, 1897, anJ
amendments thereof, and, pursuant to a vote of Maj(a,,i-Ly of
4 ,?,e e1ector2 of suid city vatiny; at said, qpeoial elec
-
blon duly Laid legally c-Uled, notified and held on the twenty-
sixtn oi septg.'n�,er, 1913, far that ID,,i�,pose,
i8 hereL,,y certified, recited and dec,!, -Lred Unat all act
elections, conditions and thin,,s required t,; law to exist,
happen and be performed precedent to and in the issuance of
Uds bond have WAS, happened and been I)Prforned in dwu . time,
form and manner as reqWned ly laily, and that 4,:,Lie total indebted-
ncso of the City of Ka--Llispell, iiclualing Mis bond does not
exoeed trio constitutional or st,,,Lttjtory iinitation, and tliat
provisions h,,vie teen duly made devoting the revenue derived
from said. water supply and sy,,,te[,,-. for pay.,.tent of this bond,
and to create as sin in,, fund for its redeription,
M
The full faith and credit of gaid city are hereby Pledged
for tl e punctual payment of t.,ae principal and intcre,,t of this
bond
IN ',!!IT!I7ISS 7T977"10F said City of KtLlispsIj his caIjsed t1ais
Iaon:.j to beg signed t;y its Mayor and its City Clerk and the cor-
ponoe seal or said SO to be Iffixrd 11(5rctO 1"Ll t_" coupons
on hip vnyjI, to Ire ej,qno.d -iith cane litlographic or engraved
fac_$ivile of the signature of said ',Iayor and City Clerk, and,
this I-ond to be dated the first day of July, 191,5.
My 0111, 1%Ili"ZWIL
sw I"
(SIAL)
y 0
MOM
City- cierl,:7—
ReFistered in tAe office olf the City Clerk thin,
da,31 of 19
The coapon,,7 of s,,,tid bonds in sast:antially the
f�'Llo'vLng forni,
" No. , . , .
425. CC
On the first day of Jult__the Ci ty of
Kalispell, Montana, promises to pay uo=Tmo7rat the office
of t'he City TrPasurer of said city, or at the option of the
hol,dor, at a bank in tale City of Now yorlt, State of Ifew York,
to be designated by the City Trca�,urer, Twenty-five. IT)CI-i-ars
in Monpy of t'e United Zt,-,jte: , being mont-ni5l
er,4, tlion due on itL> aYer 'rord, Lited July 19
DAY 0 r.
Section 3. The City o:r KzAAEspeil hereby os Ilgatoi�
itself to levy -_Lnd collect, annually in d"ae ti,,,rie, mpnner and
season, a tax upon all of the taxable property in said city
sufficient to pay the interest on said i)onds ,arid to create a
sinkirqg fund for their redkrITLPtio-", �.Imd the� city of Y'aligpe'll
also hereby devotea and pledges the revenue, derived from the
said water supply and system to low paymnnt of Mm principal
and interest Of 98,id bands, and tYie said taxes levied and col-
lected and the said revenues received 'ry tlie Treasurer of the
said city shall be used in -payment of the said interest and
principal of the said bonds and for no Ot?-Ier Pu),'P09e.
Section The City Clerk is hereby atithorized and direct_
e (i t, o ,j-,Te g -1
notice Q adveHising in Enme nevqspaner pu't, i�,hed in
the City of Kalispell also in sorm nev'spar)er PLII.Iishcd in the
City of New York, State of New York, for a k�ccjod of not less
than foar Tueelcu, to tne effect that the City of Kalispell will
sell $175,�ICC,CCI af said toads, to -wit, honde numbered one (11
to on:� hundred seventy-five (1175), both inclusive, briefly do-
scri,oinm them, at pullic aictibn, and statinr t',ie tinie 7,,vhen and
the place 7fqere oacn sale ,vill tak(, place, and that said bonds
will Ire sold to highest bidder offsrin,r, t,ne xir cst price
for tbera. Said notice shall be in qubotartially on following
form;
"NOTIC.P1 O"P Or 1�Wns.
NOTICE IS HRI�.EE'y that the City of Kalispell,
Montal I na, will, on the, ...... day of ............. 1913, at
t=-,'e-,Lve o'clock, noon, sell. at public aucti.on It the Council
�aaibers in the City Eia,ll of' said City of Xal.iopel.l, to ti-le
bidder offprinr7 the iisflriest price for them, 4175,00C.CCI, of
gold 'Londs, said bonds to be known and designated as "Water
Bonds", the money der.-tved frora the sale of sari.bonds to be.
1,13ed CXc2:,11-'ivPly for t-le T>-Url)ooe of' procurinz a water su>pjjly
and systefa said
for sd city, to be owned a"rid controlled by
said city -Lnd the revennes, derived therefrom to be Ipplied tip -
on the indebtedness inourred therefor.
Said bonds AIL be of the denomination of One, ,rhous.,And
Dollays each, d,,ilted July Ist, 1913, a -id be redperna-ble
and payable as foi t:
-lows t 0--,,qi
Twenty-five Thout and Dollars of said bonds,
nuril)ered from one to 25 both ine"Dusive, shall oe redeemable
on and after tfio firF>t clay OfDaly, 192C. Land sh,all be paid
on July Ist, 1923;
Forty Th�ou-,,-Ind Dollars. ($4(),CC0.00) of said bonds numbered
from 26 to 65 botlo, iilclosi-,re, shall be rpdentaable on and after
t1hio first day of July, 19P,3 and shall be paid on jilly 1,, , t, l 9,28.
One Hundred Teti Thouoand ($110,000.00) of oilid
bonds;, num"hered 66 to 175, both, -ilnclusive, shall be redoel-aable
J
on and after t'nl �- j.rat iJ,-,jy of, july, ,arid shall be V--Ad on
the 1'1(°s-t daY Of' July, 1933, all of, said Lond'e to I - -,ear inter-
ecst tine rate of five per centum per allrium, intere-�t payable
on January 1, and July l of each year at the
office of tile City Treasurer of X,11is pell, Von-,Ti,na, or, at the
option of the holder, at so,,ae bank to i,o-e by the
City Treasarpp, in 14ew York City.
All partier, desiring to bid will be required to deposit
vi i tr l. t !ie City of Paid City, t.-Ie, time set for the
sale of slid bonds, an unconditional certified check in the,
al'aOunt of Five Thougand Dollars ($5,CCGI.Co), payable to the
order of 'Robert Pauline as gayar, as _1 ,T ty I P
t;L� a, te of good faith,
and no bids will be -eceived at than par and ,,i,ccrued int-
erest from the d,-
),.t(- of i-lon(iF, ljntil. tr1f.
n . are taken and paid
for, The City reserves t?-ie rig,�'it to reject any or all bid.,3.
By order Of' t"iP City Coun(,il,
City Clerk,
Dated. 1213,
Date of first nul,licatdon.--,1913,
Section 5. Said bond„, ,,hall be Eoll at not less than
par value, and t1,10, mone,,,, arising from the sale of said bonds
shall 'Le paid into the City trcavi1-.,y and applied anly to the
71 -'n o '1-� bands _Ind such tonds "when
a -rP o F'� 1,1 f �) r are issued,
',�) -Ir del J , e red to the purchaser
d(ily red and executed sh�ill be
thereof upon payaient of the purcl lase price thtref oar, und tile,
recei7ct of tile, city treasurer to"the onrc-iuser chull be a full
-aCqUittarlC�' for Said pu:Ichase price, and t,,-ic � irs,,hae�er 2hall
not be bound to see t;a --tpplic,,ition of tlie- 1),,archzo3e money
by th,:a city.
Ila-qBed by tie City Colincil this 6 day of ortQ1,rr, 1913.
Approved by the ILIiyor thL- F, day of-Notolher, 1913.
Yz,,%ro r
City Clerk.