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HomeMy WebLinkAboutOrdinances - n/a - 07/13/1911 - Issuing Bonds (2)AT' ORDII;ATTCE
PROVIDI'TG FOR THE ISSUE OF LIUT,TICIPAL BOITDS OF THE VILLAGE. OF I,=C H:E MM,
TO THE 1,11OU1�1T OF 1'iTTE THOUS111D (9,000) DOLLARS A17D PROVIDING FOR THE
CO �LECTIOTT OF A TAX TO PAY THE INT'?REST THEREON YJTD THE PRI,,TCIP �,L TIiT„�.EOF;
BE IT ORDAINED BY THE PRLSIDENT !JTD ]TARD OF TRUST' ES OF THE VILL^,.G^ OF
LIC H!_TTRY:
Section 1. Thsat for the purpose of providing funds for the
construction and erection of a Village Hall in the Village of P.icHenry,
Illinois, there shall_ be borrowed on the credit of said village the'sum of
Hine `£houaand (9,000) Dollars, and to evidence such 1_aan there shall_ be and
is hereby ordered and directed to be issued the negotiable coupon bonds of
said village to said amount. Said bonds shall be designated as Municipal
bonds of 1911; shall be eighteen (18) in number, numbered from one (1) to
eighteen (18), inclusive, and of the denomination of Fife Hundred (500)
Dollars each; shall bear date of September 1, 1911, and shall become due and
payable as follows, to -wit:
Bonds No. 1 and 2 on July 1, 1913:
.Bonds T�To. 3 and 4 on July 1 , 1914.
Bonds No. 5 and G- on July, 11 1�15.
Bonds TIT . 7 and 8 on July 1, 116. -
Bonds No. 9 and 10 on July 1, 1917.
Bonds No: 11 and 19, on July 1, 1918:
Bonds No: 13 and 14 on July 1, 111)19:
Bonds TTo: 15 and 16 on July 1, 1920s
Bonds No. 17 and 18 on July 19 1921=
Said bonds shell bear interest from and after their dl-.te at the
rate of five (5) per cent per annum, payable semi-annually on the first days
of January and Jul; of each year, which interest payments shall be evidenced
by proper coupons attached to each bond, and both the principal -rd interest
able in the la;rfttl money of the United States of America at the
shall_ be pay
office of the treasurer of said village.
,.
Q
-"-- y---�- Section 2. That each of said bonds and each of the interest coupons
M
thereto attached shall be in substantially the follo:�ri.ng forms respects
to -wit:
UNITED STATES OF _J__,_LICA.
STATE OF I LLINOI S COUT?TY OF
VILLAGE OF i.TC HENRY.
N o . $50(
1,,IUNICIPII BO£IDS OF 1911.
Know all men by 41 ese presents, that the Ville.ge of 7,0H
in the County of 1'. cHenry and State of Illinois, achnoviledges it eif
and for value received hereby promises to pay the bearer the sum o-.
Hundred (500) Dollars on the first day of July, 19together :iith
interest thereon on said sum from the date thereof until paid, at t__.
five (5) per cent per annum, payable semi-annually on the first da
January and July in each ,year upon presentation and surrender of the
coupons hereto attached as they severally become due, both principal nu
interest payable in lawful money of the United States of America a.t the off
of the treasury of said village, and for the prompt payment of this bond
with interest as aforesaid at maturity the full faith, credit and resources
of said village are hereby irrevocably pledged.
This bond may be redeemed by the Village of '"cHonry on July 1,
1913, or any interest paying period thereafter, providing notice of such
intention to so redeem said bond shall be published in the I',TcHenry Plaindealer,
a newspaper of general circulation published in the Village of ',17eHenry, for
at least thirty (30) days prior to said interest paying period,and the pay-,_ent
o-f the principal and accrued interest to said time of redemption.
This bond is issued by said village for the -ourpose of providing
funds for the construction and erection of a Village Hall in said village in
accordance with the provisions of an ordinance duly passed by its :aillage
3
board and in all respects in full compliance ,,;ith the provisions of an
act of the General Assembly of the State of Illinois, entitled "An Act to
Provide for the Incorporation of Cities and Villages," approved April 101
and all acts amendatory thereof or supplemental to said act, and it
1572,
is hereby certified and recited that all acts, conditions and things reqLlired
by lair and the Constitution of the State of Illinois to be done precedent to
and in the issue of this bond hav-e been properly done, happened and been
performed in regular and due form and time, as required by la;; that the
total indebtedness of said village, including this bond, does not exceed any
constitutional or statutory limitation and that provision has been made for the
collection of a direct annual tax in addition to all other taxes on all of
the taxable property in said village, sufficient to pay the interest hereon
as the same accrues and to liquidate the principal 'rlereof at mn.turity.
In Testimony ',dhereof the said Village of F1cIienry,its village
board has caused its corporate seal to be hereto affixed anal this bond to be
signed by its President and attested by its Village Clerk this first day of
September, A. D. 1911.
ATTEST:
Village Clerk.
On
FOMI OF COUPON.
A. D.
President.
$121.50
the Village of-:TcHenry,
in the County of P,,?cHenry and State of Illinois, gill pay to the bearer the
sum of T•.,elve W) Dollars and Fifty (50) Cents in lawful money of the Un_-ted
States of America at the office of the treasurer of said village for semi-
annual interest due that date on its municipal bonds of 1911, dated September
11 1911. 110.
ATTEST:
1T y� ,e UTeR.
President.
4
�uection 3.
That said bonds and interest coupons shall be signed
by the President and attested by the signature of the Olerl_ of said villa e
and the corporate seal of said villarre shall be a.ffixeJ to each of said fronds,
but not to the interest boupons, and such officers are hereby autiiorixed and
directed to execute said bonds and coupons for and."in behalf of said village.
Said bonds shall be sold by the finance committee of the village board and
r
the proceeds derived from their sale shall be placed_ in the vill_-F treasury
in a special fund to be used solely for the purpose for which said bonds
recited they are being issued.
Section 4. That for the purpose of providing the fund required to
i eet the interest on said bonds promptly rihen and as the same accrues and
to liquidate the principal thereof at their maturity there is hereby levied
on all of the taxable property in said village, in addition U all othor taxes,
the following direct annual tax, to-kii t: -
For the year 1912 a tax sufficient to produce the sum, of $600'.711,
for interest.
For the,year 1913 a tax sufficient to produce the sum of $1450.00,
being, UK'forL,interest and $1000 for principal..
For the year 1014 a tax sufficient to produce the sum of
being $400 for interest and $1000 for principal.
For the year 1915 a, tax sufficient to produce the sum of $1250.00,
being $350 for interest and $1000 for principal.
For the year 1916 a ta:: sufficient to produce the sum of $1300.00,
IDein;- $300 for interest and $1000 for principal.
Fo� the ,ream 1017 a tax sufficient to ?produce the sure of $150.0n,
being $250 for interest and $1000 for princ?pal •
For the year 1918 a tax sufficient to produce the sum of $11,2300.00,
being $200 for interest and. $1000 for principal.
For
the year
1919
a tax
sufficieno i
being
$150 for
interest
an,!
$1000
for principal.
For
L' ^
,ale . aar
"�
102
tax
to pi' o J1CA
SL1fflcl ent-
for
il�.terest
and1000
for l,, ir,c;_pa,l.
For
the year
1921
a tax
sufficient to produce
the sum of $1050.''�,
being
750 for
interest
and
$1000
for principal.
And a certified copy of this ordinance is hereby ordered filed
,:iith the County Clerk of McHenry County, I1_linois, Vrho shall in each of said
years from 1912 to 1921, both inclusive, ascertain the rate per centun:, to
produce the aggregate tax hereinabove levied for such yec.r and extend the
same for collection upon the tax roll of said village in connection ri the
taxes levied for general village purposes it such year, a.nd such annual tax
shall be collected by the said officer at the same time and_ in '-,he ti^rye
manner in each of said. years as the taxes of the village for gencr �.l 1_L�r po es'
for such ,year are collected, and Then collected shall be used solely for '�ii0
_purpose of paying the interect and principal of the bonds hereby authorized
:;lien and as the se.me ri-.ture.
Section 5. Thar this ordinance shall be in full force and effect -from
and after its passaje and pgproval by a majority of the legal voters tl-,e
Village of l;licHenry voting at a special election to be call d. hereafter.
APPRO71FD
President.
ATTEST
Village Clcrk.
I ASS /3