HomeMy Public PortalAboutMinutes - 9/18/1950.�.
1 �4
Sept 18 1950
Council met at 8:00 P.D�7. on this date pursuant to a Resolution
passed by the Town Council on Sept 5th 1950.
Mayor Vahlffiing pre siding and the f of ]-owing cothncilmen
pre sent -
Jerry Spieker- Herman B Hook- D D Huisman - J E Riekena
absent- J T Riekena.
The Clerk announced. that there were no written objections
filed to the proposed. Resolution.
Councilman Spieker introduced the fol.l.rnving RESOLUTIONT,
entitled" RESOLUTION ADOPTII�IG THE PROPOSED RESOLUTION TO TAKE ACTION
TO AUTHORIZE THE ISSUANCE OF NINE THOUSAND (�k9000.) DOLLARS
GEZIERAL OBLIGATION STREET IMPP�OVEh1ET�?T BONDS AND AUTHORI CE THE
COUNCIL TO PROVIDE BY RESOLUTION FOR THE LEVYING OF AN AnrnrUAL
TAX TO PAY THE PRINCIPAL AND INTEREST OF SAID BONDS" and
moved its adoption, motion seconded by cotinci.lman D D Huisman
On Roil call..-
Ayes- Hook- Huisman- Spieker- J E Riekena
mays- none- absent J T Riekena;
"'a.yor Vahlsing declared Reso�ution wonted.
Mayor Vahlsing then announced that this was the, time and plc_
previousl advertised for receiving bids for the sale of Nine
Thousand �Q000.) Do�7-ars General Obligation Street Improvement
Bonds of the Town d Well sburg, I otva .
The following bidders were Aresent anc? made offers or
oven bids for said. Bonds; bid
Peoples Savings Bank- !Dell sburg Iowa �x��e 2� plus
a �25.00 p remium.
T�ir Vop^le- n.Rarshall-town Ia. bid 2'9� bus �20.00
The Clerk having recorded the best Open bid., and. as there were
no sealed bids filed. with the Clerk, and. the matter being
considered by the Council, Councilman J E Riekena introduced
a Resolution entitled, " Resolution accepting bids for the Sale
of Bonds" and moved. its adoption, Councilman H B Hook seconded
the motion,
On Roll Call-
Ayes- H B Hook- D D Huisman- J E Riekena Jerry Spieker-
1\iays - none Absent J T Riekena.
Mayor declared Resolution adopted.
Councilman H B Hook introduced. a Resolution entitled;
"Resolution providing for assessment and levying an annual
tax on all the taxable property liable therefor in the Town of
Wellsburg, Iowa, to pay the interest on and. principal of DTITTE
THOUSAND ��9000.) DOLI,AP.S General. Obligation �m�ada Street
Improvement Bonds " and. moved its adoption; Seconded by
Councilman D D Huisman.
On Rol1Ca11
Ayes- Hook- Huiaman- Spieker- J E Riekena.
ItTays-none Absent J T Riekena.
� nRaror declared Resolution du�,y adopted.
0 Councilman H B Hook introdueed an Ordinance entitled,
�� "AN ORDINANCE PROVIDIPIG FOR EHE FORP�7 AI`TD ISSUANCE OF NINE
THOUSAND(�9000.00) T'OLLARS GENERAL OBLIGATION STREET Ir,'IPRO��E�,�ENT
BONGS FOR THE PUF.POSE OF PAYIAiG THE COST OF REPAIR AND
SURFACINGOF STREETS?PARTS OF STREETS AND ALLEYS" and moved its
adoption,
S��id Ordinance was read b,y the Clerk, which constituted
the first reading of said Ordinance.
C®uncilma.n H B Hook moved that the rule requireing an
ORDINANCE to be read on three seperate and. dirferent days be
dispensed with. Seconded. b,y councilman J E Riekena.
On Ro�_1 Call-
Ayes- Hook- Huisman- Spieker- J E Riekena-
Na,ys- none absent J T Riekena.
Ma.,yor Vahlsing declared motion carried..
Councila¢man Hook Moved that the Ordinance be now
adopted, seconded by councilman J Spieker.
ON Roll Call.
Ayes- Hook Huisman- Spieker- J TE Riekena
Nays- none absent J T Riekena.
P,Zayor Vahlsing declared motion carried and the Ordinance
duly and legally adopted. and thereupon signed. the Ordinanc e
and vas attester' b,y the Cleb]�,
There being no other busin s c c 1 d�ournec�
-- --- --- - -Clerk -- - - -- yor
0$DINANCE N0. 11�
approved. The registration of any
Town Treasurer• in the following
An ordinance providing for the
of the said bonds shall not affect
form: )
form and issuance of nine thou-
the negotiability of the coupons at-
TOWN TREASURER'S
sand ($9,000.00) dollars general
tached to said bonds but such cou-
CERTIFICATE
obligation street improvement
Pons shall continue transferrable by
State Of Iowa
bonds for the purpose of paying
delivery.
cryounty of Grundy
the costs of repairing and sun-
Section III. The general obliga-
Town OY Wellsburg
facing of certailt streets, parts of
tion street improvement bonds here-
SS:
Streets and alleys.
by authorized shall be in form sub-
Tlris bond duly and properly ro-
WHEREAS, the Town oY Wells- �
stantially as follows:
gistered In my office as of the ____
burg in the County of Grundy,
(Form of Bond)
day of ______________, 19 ______,
State of Iowa, for a municipal tor- �
United States of America
________----------
poration, duly incorporated, organ-,
State of Iowa
� Treasurer of Town o1
ized and existing under and by
County of Grundy
Wellsburg, Iowa
virtue of the general laws and
Town of Wellsburg
Section IV. The bonds hereby au-
Conatitution of the State of Iowa, �
General Obligation Street Improve-
thorized shall each be signed by
and;
ment Bond:
the mayor and attested by the clerk
WHEREAS, said Town pursuant
No. __________________ $ 1000.00
with the seal of the Town affixed
to attd in strict compliance with all
The Town of Wellsbttt•g, in the
and the interest coupons attached
the laws applicable to said Town,
state of Iowa, for value received
,thereto shall be executed with the
has lawfully ordered and contract- j
promises to pay to bearer, or i1 this
aignatut•e of the Town Clerk or a
ed for the repairing and sur[acing I
bond be registered, as to owner-
pacaimile thereof and when so exe-
ot certain streets, parts of streets .ship,
to the registered holder there-icuted
said bonds shall be delivered
and alleys in said Town, previous-
of, the sum of On Thousand ($1000.-Ito
the Town Treasurer and shall be
iy improved by grading and surfac-
00) Dollars lawful money of the
I I,y him registered and delivered to
ing, and otherwise improved in the
United States of America on the lat
the Peoples Savings Bank of Wells -
manner authorized by Chapter 39I
day of ____________, 19 ______
burg, Iowa, the purchaser thereof
of the Code of Iowa for• 1950, the
with interest on said sum frorn the
� and the sale of said bonds to said
cost thereof to be paid at fife gen-
date het•eof until paid at the rate
purchaser is hereby ratified and
eral expense of said Town, and it
of ____________ per cent pet• an-
confirmed.
is now necessary to make definite
nttnt payable on the 1st day of May.
Section V. All actions takon as
provisions relative to the payment
1951 and semiannually thereafter
required by Section 76.2 of the
for. the repairing and surfacing of
on the first day of May and Novem-
Code of Towa, 1950, providing for
such certain streets, parts of streets
her in each year, upon preaentat-
� the annual levy oY a tax upon all
and alleys and such provision has
ion and surrender of the coupons
taxable property within said town
not previously been made �
as they severally become due, both
liable therefor, in addition to the
THEREFORE, BE IT ORDAINED, �
principal and interest being payable
levies authorized for other purposes,
by the Council of the Town of
at fife office of the treasurer in fife
sufficient to pay the interest on
Wellsburg, Iowa:
Town of Wellsburg, Iowa.
� the bonds hereby authorized as artd
Section 1. That in pursuance of
This bond is issued by the Town
when the same become due and
Section 396.22 of the code of Iowa
of Wellsburg, Iowa, pursuant to and
� also to make adequate provision for
for 1950, there is hereby author-
in strict compliance with Chapters
the payment oY the principal of said
ized to be issued Nine Thousand
23.76 and Section 396.22 of the
I bonds at their maturity, is hereby
($9,000.00) Dollars of General Obli-
Code of Iowa, 1950, and in con-
� ratified and confirmed and the
gation Street Improvement Bonds
for-mity with an ordinance of the
money arising from such levy shall
oP the Town of Wellabw•g, Iowa,
Council of said Town, duly passed,
� he used for the payment of said
nutnbered consecutively in Humeri-
approved and published for the pun-
rnterest and bonds and for no other
cal order from one (1) to nine (9 ),
pose of defraying the coat of re-
purpose whatever, all as more par•
I
both numbers inclusive, in denom-
pairing and surfacing of certain
titularly provided in a resolution
inations of One Thousand ($1,000.-
streets, parts of streets and alleyslduly
passed and approved by the
00) Dollars each. All of said bonds
in said Town,
(Council of said Town upon the lgth
shall be dated the first day of
This bond shall pass by delivery
111 day of September•, 1980, entitled,
October, 1950, and bearing interest
unless it has been registered iu the'
•RESOLUTION TO PROVIDE FOR
from and after said date until paid
name of the owner on the books of
� THE ASSESSMENT AND LEVY OF
at the rate of 2 t/2 per cent per an-
the treasurer of said Town and evi-
AN ANNUAL TAX ON THE' TAR-
num, payable on the iirat day et
Bence of such registration endorsed
ABLE PROPERTY L I A B L E
May, 1951 and semiannually there-
on the back tltet•eof. Thereafter no
THEREFOR, IN THE TOWN OF
after on the first day of November .transfer
of this bond shall be valid
WELLSBURG, IOWA, TO PAY THE
and May in each year until all �
unless made on said treasurer's
INTEREST ON AND PRINCIPAL
are paid, such interest to be evi-
books and similarly noted thereon,•OF
NINE THOUSAND ($9.000.00)
dented by negotiable coupons at-
unless the last registration shall
� DOLLARS GENERAL OBLIGATION
tached to each of said bonds; both
have been to bearer, in which case
� STREET IMPROVEMENT BONDS.'
principal and interest being paid in �
transfer by delivery shall be restor-
� Section VI. The interest falling
lawfully money of the United ,
ed. The registration of this bond
� due during the year• 1961 and the
States of America at the office o[
shall not effect the negotiability
� interest or principal or both of them
the Treasurer in the Town of Wells- �
thereof.
falling due to said year 1951 or in
burg, State of Iowa.
AND IT IS HEREBY CERTIFIED
j any aubsegtrent year or years shall
Said bonds shall become due and
in numerical �
AND RECITED:
That all acts, conditions and things
l if necessary, be paid promptly Prom
;the
payable order as
follows: �
requisite according to the laws and
current funds of said Town on
I hand in advance of the collection
Bond No. 1—$1000.00 ii
—November 1, 1961
Bond No. 2—$1000.00
—May 1, 19,62
Bond No. 3—$1000.00
—November• 1, 1962
Bond No. 4—$1000.00
—May 1, 1953
Bond No. 5_$1000,00
—November 1, 1l+63
Bond No. 6—$1000.00
—May 1, 1954
Bond No. 7—$1000.00
—November L, 1954
Bond No. S—$1000.00
—May 1, 1965
Boud No. 9—$1000.00
—November 1, 19b6
Section II. That upon presenta-
tion at the office of the treasurer
of the the Town of Wellsburg, Iowa,
of any of said honda the same may
be registered as to the ownership
or principal of said bonds in the
name of the owner on the books of
the treasurer, said registration to
be noted on the reverse aide of said
bond by the treasurer and there-
after the principal of such register-
ed bond shall be payable only to
the registered holder thereof, his
legal repr•esent.ative or assigns.
Such registered bond shall be trans-
ferred to another registered owner
or back to bearer only upon presen-
tation to the treasurer of the Town
of Wellsburg, Iowa, with the legal
assignment duly acknowledged or
constitution of the State of Iowa to of taxes levied therefor and when
be done and performed precedent to�gaid taxes shall have been collected
and in the lawful issue of this bond, � reimbut•aement shall be made tc
were and have been done and per- ,such current funds in the sum or
formed as required by law and i sums thus advanced therefrom.
that the total indebtedness of said gection VII. Ail ordinances of
Town, including this bond, does not resolutions or parts thereof in con•
exceed the constitutional or atat- flict with this ordinance shall 'be
tttory limitations. and the same are hereby repealed.
IN TESTIMONY WHEREOF, said I Section VIII. This ordnance
Town by its Council has caused this :shall be in force and effect frorn
bond to be signed by its mayor and �
attested by its clerk with the aeall
of said Town affixed as oP the
------day oY------------,1960.I
Mayor of the Town of Wells-
burg, Iowa �
ATTEST;
Clerk of the Town of I
WELLSBURG
(Form of Coupon)
No. -------------- $----------,
�-------------• 19 _
the Treasurer of the Town of Wells-
burg, Iowa, will pay to bearer, ___
Dollars at the office of the Treasur-
er, Wellsburg, Iowa, for semiannual ,
interest then due on its General Ob-
ligation Street Improvement bond, �,
number ________, dated ________, �
] 9-----------------��.....�.wr.r
Clerk of the Town
of Wellsburg, Iowa
(On the back of each bond shall
be endorsed the certificate o1 the
:r
CHl
� --- I
/CHEVROLET,
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