HomeMy Public PortalAboutMinutes - 2/21/1931Wellsburg, Iowa, February
The To:7n Council of the Town of " ,'ellsburg, in the County of
Grundy, State of Iona, met in_ ��- session on call of the "1,avor
at the tire and place designate n he following call, a copy of
which, signed by the Mayor, had been personally served on each member
of the Council a sufficient tire before said meeting, and service of
which had been duly accepted by each Member.
"ellsburg, Io a, Febru•-iry , 1931.
To .............................
Councilman,
1"ellsburg, Io.!a.
Dear Sir:
You are hereby notified that a meeting of the,Town Council
of the Town of "7ell�urg, in the County of Grundy, State of Iowa,, will
be held on the � _ day of February, 1931, at o'clock �. m.,
at the , Z1ellsburg; oo,a, within said
town, for the purpose of adopting a resolution amending a resolution
adopted by this Town Council on the / : './ day of January, 1931, pro-
viding for the issuance of $12,000 ,va er;;orks Bonds of said town, and
for the transaction of such other business as may come before the
meeting.
Respectfully,
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Mayor.
The moeting was eallod to order by the Mayor, and, the roll
being called, there were
Present, _ _1 ,f , Mayor, in the
chair, and the following namea members or tne ouncil:
Absent: bons,
Councilman introduced and read
gee-ept�is�e-'-'Apdpaxiee-. ®T a resolution amen ng a resolution
adopted by this Town Council on the day of January, 19311. pro-
viding for the issuance of �,'12,000 Waterworks Bonds of said town, and
moved its adoption, soconded by Councilman �• —i` -- �� ,.
and after due consideration thereof by the Council the Mayor put the -
question upon the adoption thereof, and, the roll being called, the
following named Councilmen voted
Aye
Nay: None.
"Whereupon the Mayor declared the resolution duly adopted as
follows:
RESOLUTION
HEREAS 0 On the day of January, 1931, this Town Coun-
cil of the Town of '-ellsbur►g %:a, did pass a resolution entitled
"Resolution toprovide for the issuance of �12,000 "'aterworks Bonds of
the Town of 17ellsburg, Iowa"; and
'-HEREAS, Section 1 of said resolution did provide that said
THE WHITE-PHILLIPS COMPANY, INC., INVESTMENT BANKERS, DAVENPORT, IOWA
Waterworks Bones shall bear interest at the rate of four and one-half
per eentum per annum; and
At the sale of said '"aterworks Bonds, held on the
17th day of February, 1931, said 7aterworks Bonds were sold to the
highest bidder at a price of not less than par and accrued interest
for bonds bearing interest at the rate of fotmr and one -quarter (41,%)
per eantum per annum; and
TH"j,REAS, It is deered advisable and for the best; interwis
of said ta.:n to amond said resolution gassed on the day of
January, 1931, in order to change the interest rate on said Waterworks
Bon,'s to four and one -quarter (4�%) per centum per annum; NOW TflrRF.-
FO RE
BE IT R7SOLV7P, By the Torn Council of the Toym of 717ellsburg,
in the County of Grundy, State of Iowa:
S
Section 1. That `'action 1 of a resolution entitled "Resolu-
tion to provide for the issuance of �12,000 '.'pater ":orks Bonds of the
Town of 'rellsburg, Grundy County, Iowa", which was passed and a nnroved
by this Torn Council on the 1.2<-.< day of January, 1931, be and the
same is hereby amended to read as follows:
"Section 1. That there are ' :^c`:y _ ::trnri2;;d to be issued
seventeen (17) negotiable '.'later "orks Bonds of said torn, numbered
consecutively from One (1) to seventeen (17), both numbers inclu-
sive, bonds numbered One (1) to Ten (10) inclusive to be of the
denomination of '`500 each and bonds numbered Eleven (11) to Seven-
teen (17) inclusive to be of the denomination of $1000 each, to be
dated the First day of February, 1931, bearing interest from and
after the date thereof until paid at the rate of Four and One -quar-
ter (416) Per Centum per annum, payable May 1, 1931, and sent -annu-
ally thereafter on the First days of May and November of each year,
such interest to be evidenced by negotiable coupons attached to each
bond, both principal and interest payable in lawful money of the
United States of Arerica at the office of the Town Treasurer in and
of the Town of '--ellsburg, Io;a, Said bonds shall become due and
payable in their numerical order as follows:
WO on November 1 of each of the years 1933 to 1942 inclusive; and
41000 on Fovember 1 of each of the years 1923 to 1949 inclusive."
Section 2. That all resolutions or parts of resolutions in
conflict herewith be and the same are hereby repealed.
Passed and approved February
Mayor*
Attest:
Town Clark.
( `! �.�T )
On motion and vote the council adjourned.
_O -2
own o rk—
(S7AL )
THE WHITE-PHILLIPS COMPANY, INC. INVESTMENT BANKERS. DAVENPORT. IOWA