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Ordinance 413 - Form of Water Bond28 ORDINANCE NO. 413 AN ORDINANCE FIXING AND DETEPIUNING THE FOPIT OF BOND AND COUPON:' FOR THE ISSUE OF ONE. HUNDRED TEN THOUSAND DOLLAR REFUNDING WATER BONDS OF THE CITY OF KALISPELL, OF THE ISSUE OF JULY 1st, 19f18. WHEREAS, heretofore, to -wit: on the 17thday of February, 1928, the City Council of the City of Kalispell duly and regularly passed and approved Ordin- ance No. 409 being '!an ordinance providing for the re-. funding of Water Bonds of the City of Kalispell, Montana, by an issue of one hundred ten thousand dollar refunding water bonds and directing notice of sale thereof, pro- viding a form of notice and providing for a levy of an annual tax to pay installments of interest and principal of said bonds." AND WHEREAS, pursuant to the provision of said Ordinance bids were received by the said city of Kalispell, on the 26th day of March, 1928, at which time the sale of said proposed bonds was by the City. Council of the City of Kalispell duly and regularly awarded to the State Board of Land 6ommissioners of the State of Montana upon the amortization plan. AND WHEREAS, it is provided by the said Ordinance. No. 409 that the entire issue shall be put into four bonds in the amount of $25,000each, and one addition- al bond in the amount of $10,000. NOW THEREFORE: BE IT ORDAINED 7Y THE CITY COUNCIL OF THE CITY OF KALISPELL: SECTION 1. That the form of each of said $25,00-bonds and coupons attached thereto shall be as follows: $25 , 000. 00 UNITED STATES OF A1_EFTCA STATE 017 1iONTANTA COUNTY CF FLATHEAD THE CITY OF KRLISPET,L R E T' TT N D I N C; C I T Y 2 0 N D Amortization Plan Series of 1928 The City of Kalispell in the County of Flat- head, State of Montana, for value received d'dknowledges itself indebted and hereby promises to pay to the bearer the principal sum of TWENTY r IVE THOUSAND DOLLARS in forty semi-anhUal installments after the date herein, together with interest on the portion of the said princi- pal sum remaining from time to time unpaid at the rate of 4-4111, per annum, interest and installments on principal being payable semi-annually on the 1st day of January and the lst day of July of each year upon the presenta- tion and surrender as they severally become due of the annexed coupons, numbered from one to forty inclusive, thirty nine of which are for the sum of $904.05 each and the last one of which is for the sum of $933.86; the amounts of principal and interest payable on such dates respectively, being the amounts as shown by the schedule on the reverse hereof. Both principal and interest here- of are payable in lawful money of the United States of America at the office of the State Treasurer in the City of Helena, Montana, or, at the option of the holder, at 285 the fiscal agency for the State of Montana in the City of New York. 'or the prompt paymenC hereof, both prin- cipal and interest as the same become due, the full faith and credit of the said city are hereby irrevo- cably pledged. The City of Kalispell reserves the right to redeem this bond at any time at the option of the said City of Kalispell and prior to the maturity thereof. ' This bond is issued by the said City of Kalispell under the authority and in full compliance with Section 5288 of the Revised Codes of Montana of 1921 and acts amendatory thereof and supplementary thereto and Chapter 38 of the Laws of Montana of 1923 for the pur- pose of providing fund s to pay a like amount of out- standing redeemable or optional bonds of the said city. It is hereby certified and recited that all acts, conditions and things required to hapen, exist and be performed, precedent to and in the issuance of this bond, have happened, exist and have been performed in due time, form and manner as required by the laws and con- stitution of Montana; that the total indebtedness of the said city, including this bond, does not exceed, and that the total indebtedness of the said city at the creation of the debt refunded hereby including the said debt, did not then exceed, any constitutional or statu- tory limitation thereon; and that provision has been made for the levy and collection of a direct annual tax upon all taxable property within the said city su'ficient tp pay the principal and interest of this bond asthe same fall due. IN =NES7 the City of Kalispell, ' Montana, has c.qused this bond to be signed by its Mayor and City Clerk, and.the corporate seal of the said city to be hereto affixed, and the annexed coupons to be executed with the signatures of its said officers and this bond to be dated the 1st day of July, 1928. THE CITY OP KALISPELL, MONTANA. (Seal) Mayor City Ulerk. ( C O U P O N) Coupon No. 1 $934.05 On the lst day of January, 1929, the City of Kalispell, Montana, will pal to bearer at the office ' of the State Treasurer in Helena, Montana, or at the option of the holder at the fiscal agency for the State of Montana, in the City of New York, the sum of Dollars for six months' interest then due on the unpaid portion of the principal of the bond to which this coupon is attached, and Dollars for the semi-annual installment on print pa then payable upon the said bend, bean^ its refunding bond, series of 1928, dated July 1st, 192.8. T= CITY 07 KI.LISPELL, PiONTAATA. Mayor City Clerl_ W A1,11ORTIZATION Sr'ITMULE OF PAY11EE]TS 025,000.002 20 Years, 4-'.' Interest Payable Semi -Annually : Total : Coupon: : of Each: No. Dates of Payments: Paym't Applied: Applied: Bal. on on : of Prin. Interest: Prin. : UnDaid 1 Jan. 1st, 1929 934.05 531.25 402.80 ,-.,"'T0 2 Jul. 1st, 1929 934.05 522.69 411.36 24185.84 3 Jan. 1st, 1930 934.05 513.95 420.10 23:765.74 4 Jul. 1st, 1930 934.05 505.02 429.03 23336.71 5 Jan. 1st, 1931 934.05 495.91 438.14 22:896.57 6 Jul. 1st, 1931 934005 486.59 447.46 22,451.11 7 Jan. lst, 1932 934.05 477.09 456.96 219994.15 8 Jul. 1st, 1932 934.05 467.38 466.67 21,527.48 9 Jan. 1st, 1933 934.05 457.46 476.59 211050.89 10 Jul. 1st, 1933 934.05 447.33 486.72 209564.17 11 Jan. 1st, 1934 934.05 436.99 497.06 201067.11 12 Jul. 1st, 1934 934.05 426.43 507.62 199559.49 13 Jan. lst 1935 934.05 415.64 518.41 191041.08 14 Jul. 1st,, 1935 934.05 404.62 529.43 181511.65 15 Jan. 1st, 1936 934.05 393.37 540.68 179970.97 16 Jul. lst 1936 934.05 381.88 552.17 17,418.80 17 Jan. lst,, 1937 934.05 370.15 563.90 169854.90 18 Jul. 1st, 1937 934.05 358.17 575.88 16,279.02 19 Jan. 1st, 1938 934.05 345.93 588.12 151690.90 20 Jul. 1st, 1938 934.05 333.43 600.62 15090.28 21 Jan. 1st, 1939 934.05 320.67 613.38 14:476.90 22 Jul. lst, 1939 934.05 307.63 626.12 132850.48 23 Jan. 1st, 1940 934.05 294.32 639.73 132210.75 24 Jul. 1st, 1940 934.05 280.73 653.32 12,557.43 25 Jan. 1st, 1941 934.05 266.85 667.20 11,890.23 26 Jul. 1st, 1941 934.05 252.67 681.38 112208.85 27, Jan. 1st, 1942 934.05 238.19 695.86 101512.99 28 Jul. 1st, 1942 934.05 223.40 710.65 9802.34 29 Jan. 1st, 1943 934.05 208.30 725.75 9:076.59 30 Jul. lst, 1943 934.05 192.88 741.17 89335.42 31 Jan. 1st, 1944 934.05 177.13 756.92 79578.50 32 Jul. 1st, 1944 934.05 161.04 773.01 69805.49 33 Jan. lst, 1945 934.05 144.62 789.43 69016.06 34 Jul. 1st, 1945 934.05 127.84 806.21 5209.85 35 Jan. lst 1946 934.05 110.71 823.34 4:386.51 36 Jul. lst; 1946 934.05 93.21 840.84 31545.67 37 Jan. 1st, 1947 93,1.05 75.35 858.70 21686.97 38 Jul. 1st, 1947 93C.05 57.10 876.95 1,810.02 39 Jan. lst, 1948 934.05 38.46 895.59 914.43 40 Jul. 1st, 1948 9371.86 19.43 91,_.43_ Naulht__ Totals 37361.91 12361.81 25000.00 581,731.54 SECTION 2. That the form of said10,000 bond and coupons attached thereto shall be Ps follo-ats: ?�a0, 000.00 ISTATETOTEMONNTA$AZRICA COUNTY OF FLATHEAD TIM CITY OF KALISPELL R E F U N D I N G C I T Y F O N D Amortization Plan Series of 1928 The City of I=alispell in the County of Flathead, State of bontana, for value received acknowledges itself indebted and hereby promises to pay to the bearer the principal sum of TEF THOUSAND DOLLARS 4 287 Y in forty semi-annual installments after the date herein, together with interest on the portion of the said prin- cipal sum remaining from time to time unpaid at the rate of 4-c%per annum, interest and installments on principal being payable semi-annually on the lst day of January end the 1st day of July of each year upon the presentation and surrender as they severally become due of the annexed coupons, numbered from one to forty.inclusiva,._thirty- nine of which are for the sum of j373.56; the amounts of ' principal and interest payable on such dates respectively being the amounts as shown by the schedule on the reverse hereof. Both principal and interest hereof are payable in lawful money of the United States of America at the office of the State Treasurer in the City of Helena, Montana, or, at the option of the holder, at the fiscal agency for the State of Montana in the City of New York. For the prompt payment hereof, both principal and inter- est as the same become due, the full faith and credit of the said city are hereby irrevocably pledged. The City of Kalispell reserves the right to redeem this fond at a-:y time at the option of the said' City of Kalispell and prior to the maturity thereof. This bond is issued by the said City of Kalispell under the authority and in full com liance with! Section 5-288 of the Revised Codes of Mon�ana of 1921 and acts amendatory thereof and su-)plementary thereto and Chapter 38 of the Laws of Montana of 1923 for the purpose of providing funds to pay a like amount of outstanding redeemable or optional bonds of the said city. It is hereby certified and recited that all acts-, conditions and things required to happen, exist and be performed, precedent to and in the issuance of this bond, have happened, exist and have been performed in due time, form and manner as required by the laws and constitution of Montana; that the total indebtedness of the%eTty, including this bond, does not exceed, and that the total indebtedness of the -aid city at the creation of the debt refunded hereby including the said debt, did riot then exceed, any constitutional or statutory limitation thereon; and that provision has been made for the levy and collection of a direct annual tax u_non all taxable property within the said. city sufficient to pay the principal and interest c.f this bond as the sane fall due. IN 7I'1T7,E' 7J17,7',3C-' the City of Kalispell, Montana, has caused this bond to be signed by its Mayor and City Clerks, and the corporate seal of the said city to b'e hereto affixed, and the enne-,ed coupons to be ex- ecuted with the si^natures of its said officers and this bond,to be dated the 1st day of July, 1928. T= CITY OF YP_LTI );LL, YC°7AT:A ' itiayo r y er . (Seal) Coupon No. 1. ',3073.62 On the 1st day of January, 19t=9, the City of ''alispell, Montana, the State Treasurer of the holder at th Montana, in the Cit e ,,ill p-.y to bearer in Helena, i .,:ontana, fiscc.l--gency for at the offs ce of or at the option the State of y of New York, the sum of 1 288 Dollars for six months' inter- est then due on the unpaid portion of the principal of the bond to which this coupon is attached, and Dollars for the semi-annual in- s a men on pi-incipal then payable upon the said bond, being its refunding bond, series of 1928, dated July lst, 1928. THE CITY OF KALISPELL, MONTANA. Mayor City Clerk AMORTIZATION SCHEiDULE OF PAYMENTS ,$10,000.00, 20 Years, Qlo Interest Payable Semi -Annually Coupon No. : Total . Applied App;fed: Bal. : of each : on :of Prin. Dates of -PaT-ments: Paym't : Interest: Prin: Unpaid 1 Jan. 1st, 1929 373.62 212.50 161.12 9,838.88 2 Jul. 1st2 1929 373.62 209.08 164.54 9_9674.34 3 Jan. 1st, 1930 373.62 205.58 168.04 92506.30 4 Jul. lst, 1930 373.62 202.01 171.61 9,334.69 5 Jan. 1st, 1931 373.62 198.38 175.26 99159.43 6 Jul. 1st, 1931 373.62 194.64 178.93 8,980.45 7 Jan. 1st, 1932 373.62 190.83 182.79 8,797.66. 8 Jul. 1st, 1932 .773.62 186.95 186.67 a 610.99 9 Jan. 1st, 1933 377.62 182.98 190.64 8:420.35 10 Jul. 1st, 1933 373.62 178.93 194.69 89225.66 11 Jan. 1st, 1934 373.62 174.80 198.82 82026.84 12 Jul. 1st, 1934 373.62 170.57 203.05 79823.79 13 Jan. 1st, 1975 373.62 166.26 207.36 7,616.43 14 Jul. lst, 1935 373.62 161.85 211.77 7,404.66 15 Jan. 1st, 1936 373.62 157.35 216.27 70188.39 16 Jul. lst, 1936 373.22 152.75 220.87 61967.52 17 Jan. 1st, 1937 373.62 148.06 225.56 62741.96 18 Jul. 1st, 1937 373.62 143.27 230.35 6,5ll.61 19 Jan. 1st, 1938 373.62 138.37 235.25 6276.36 20 Jul. lst, 1938 373.62 133.37 240.25 6:036.11 21 Jan. 1st, 1989 373.62 128.27 245.35 5,790.76 22 Jul. 1st3 1939 373.62 123.05 250.57 5,540.19 23 Jan. 1st, 1940 373.62 117.73 255.89 59284.30 24 Jul. 1st, 1940 373.62 112.29 261.33 5022.97 25 Jan. 1st, 1941 373.62 106.74 266.88 4:756.09 26 Jul. 1st, 1941 373.62 101.07 272.55 49483.54 27 Jan. 1st, 1942 37".62 95.28 278.34 4205.20 28 Jul. lst, 1942 373.62 89.36 264.26 3:920.94 29 Jan. 1st, 1943 373.62 83.32 290.30 39630.64 30 Jul. lst, 1943 373,62 77.15 296.47 3 334.17 31 Jan. 1st, 1944 373.62 70.85 302.77 3;031,40 32 Jul. 1st, 1944 373.62 64.42 309.20 29722.20 33 Jan. 1st, 1945 373.62 57.85 315.77 29406.43 34 Jul. 1st, 1945 373.62 51.14 322.48 22083.95 35 Jan. let, 1946 373.62 44.28 329.34 1754.61 36 Jul. 1st, 1946 373.62 39.29 336.33 1:418.28 37 Jan, 1st, 1947 373.62 30.14 343.48 1,074.80 38 Jul. 1st, 1947 373.62 22.84 350.78 724.02 39 Jan. lst, 1948 373.62 15.39 358.23 365.79 40 Jul. 1st, 1948 373.56 7.77 365.79 Naught Totals 14,944 •74 4944.74 10000.00 SECTION 3. That all Ordinances in conflict with this Ordinance are hereby repealed. SECTION 4. This Ordinance shall be in full force and effect thirty days from and after its passage by the Council and approval by the Mayor. Passed by the City Council of the City of Kalispell, Montana, this 9th day of April, 1928. Approved by the Mayor of the City of Kalispell, 11ontana this 9th day of April, 1928. 289 i e ayor Attest, C. E. TreY.ell y er State of Montana ) County of Flathead City of Kalispell ss I, C. E. Trekell, Clerk of the City of Kalispell, Montana, do hereby certify that on the loth day of April, 1928, I posted a copy of the foregoing Ordinance in my office and that the same remained posted for a period of five days thereafter, and that the above is a full copy of the said Ordinance as passed by the City Council. Dated this 25th day of JJune, 1928. G Q��pv Ciiy erF.