HomeMy Public PortalAboutMinutes - 2/3/1981279
Section 4. Each of said bonds and coupons shell be signed by
the
the Mayor of s,e,id To;r.i of ;ellsburg, and countersigned by the
To:.n Clerk of said Tovm, and. each of the said bonds shall bear
the corporate seal of s:.id Torn. after being so executed and recorded,
the said 7.onds shall be delivered to the Treasure of said To4mw
takin6 his receipt 'therefor.
Section 5. Sgid 'Treasurer of said Tovm shall deliver said
bonds to i=ichael Yc::lligott Company to be received b;, them
mart
at par plus accrued in:erost in men' of the a=o:.:.t due
on t_seir contract for se::er c^nstruction.
Section 6. That the payment of said bonds ,aid interest be and
'N'k wo....,,e.L.
is hereby secured by the assessments levied as aforesaid^ which assess—
ments are ap,rop iated exclusivel; to such payment and shah- be used
for no other purpose until each and all said bonds and interest are
paid.
Section 7. A resolution has beenop�+ea�ed at the same date as this
resolution anticipating that part of the assessment levied to pal- the
cost of see:er outlet and puritt�ying pl,7nt by the issuance of bonds
and the bonds hereby authorized, as to that part of the assessments
levied for the cost of such plant shall bave no priority by reason
of time of passage of same or the ti;_e of delivery of bonds.
Section 8. =-11 resolutions, or pasts of resolutions of ordirr noes
Ain conflict herewith be nd the same are hereby repealed.
I=assed and approved this 1st day of Bob , 1921 %
7.
Ylayor
Attest:
Toren Clerk.
i
7 �d'
N.L WpRO
IOHV WEIGHTON
WARD AND WEIGHTON
CONTRACTORS
DAVIDSON BLDG.
SIOUX CITY, IOWA re -by 7, 18`1.
AUTO PHONE 3676
BELL PHONE 863
rr Goo H. Geerdes. To.�n
Wellsburg. Ic -,
� Dear Sir; -
I took the natter of interest payments on th ecupcns
of Special Aseessment_Bonds up .with Bechtel & Cc and asked
them (whether they mould approve coupons payable: ;day & Nov of
each year instead of April -and October. Their attorney
holds that coupons must be payable April and October as
provided by law.
We will therefore, not change the resclution
as passed by the Council and I ai having the bonds printed
that way. If Mcrlligot and S-chanke Brant their bonds to read
contrary to the statute, it is up to them. The Town is not
Prejudiced in either event but Bechtel & Cc are very careful
o have the bonds strictly according to provisions of statute
authorizing the bonds.
7as glad to find the attitude of the Scharke w
attorney different to 'what I had expected to find him and
that the bank ',vill not be delayed in realizing upon the issue.
Thanking you for your co-operation, I am