No preview available
HomeMy WebLinkAboutOrdinances - n/a - 09/01/1911 - Issuing BondsAll OI�l�IP?�'�I10E PROVIDIP?G FOI? TLTT ISSUE OF T:UP?ICTP.AL BOP?DS OF TII', �TILLaGE OF l:c HEA'P�Y TO ^1HE At.IOL'P!T OF P1II�?E THOUSANB (9000) �OLL��S AP1D PROVIhII''G F0� THE COLLECT IOI'�l OF A TAX TO PAY THL+' IP1TEnEST TH ILr01`1 AT_'IIJ THE PI'�IP�1CIPi�,I, THLRL�OF. Br IT OP�I)AIt�?nD FY THI P�tiESIDEI�IT �'LI�1D BO�ItiD OF ^1Rt1STEES OF Tl?�' jTILLl�_GE OF p�„c FIEI`1h,Y: Section 1. That for the purpose of providin��; funds for the con- struction and erection of a Village Ilall in the Village of P;�1cHenry, County of 1,�1cHenry and State of Illinois, there shall. be borrov�ed on the credit of said village the sum of PZine Thousand (9000) Dollars and to evidence such loan 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 I91l; shall be eighteen (18) in number, num'oered from one (1) to eighteen (18) inclusive and of the denomin�.tion of Five Hundred (500) Do1_lars each; shall_ bear date of September 1 � 1911, and shall bocome due and payable as f o11o�Frs, to -writ Bonds P1o. 1 and 2 on July 1, 1913. Bonds P1o. Sand 4 on July 1, 1914. Bonds Alo. 5 and 6 mn July 1, �.915. Bonds r1o. 7 and 8 on July 1, I916. Bones P1o. 9 and 10 on July 1, 191_7.- __Bonds T�?o: 11 and 12 on July 1, 1�18: `Bonds P'o: 13 and 14 on Jule 1, 1919. Bonds Plo. 15 and 16 on July- 1, 19�0. Bor�cls PTo. 17 and 18 on Ju],,y 1, 1921. Said bonds sh,a.l]_ bear interest .from and after their d.�,te at the rate of five (5) per cent per' anntu�l� payrable semi-annually on the first day o � January and Jul,yt of each ,year, �,�Ihlch interest payments shall be evidenced by proffer coupons attached to each bond and both the principal and interest shall be r�ayable in i;he la.i�rful money of United States of America at the office of the treasurer of said village. Section 2. That each of said bonds and each of the interest coupons tlicreto attached shall be in substantially the fcllo!ving forms respectively, �o-!vit0 STATE GF ILLIPIGIS rho. UPTITED STATES OF AT:�IiJRICA COL'PTTY OF P,Ic Hi I?�Y VILLAGE OF T,��c HEP?Pi' I,'UP,IICIPAL BGP,I�S OF 1911. I�no� all men 'oy these presents, that the Village of P.TcHenry, in the County of hercHenr,y and State of Illinois, aclrnocJled�es itself to o;e, a.nd for value received hereby;;% promises to pay the bearer the sum of Five Hundred (500) Dollars on the first day of July, 1() , together !irith the interest, accrued thereon from the .date thereof until paid, at the rate of five (5) per cent per annum, payab7_e semi-annLtEll _ly on the first dayse of January and July in each. ,year upon presentation and surrender of the interest coupons hereto attached as they- severally becorle kj due, both principal and interest payable in lawful money of the Vnited States of America at the office of the treasurer of said village, and for the prompt payment of this bond withinterest as aforesaid at maturity the full faith, credit and resources of said village are hereby irrevocably pledged. This bonez is issued by said village for the purpose of providing funds for the construction and erection of a Village Hall in accordance !vith the provisions of an ordinance duly passed by its village board and in all respects in full compliance with the provisions of an act of the General Assembly of the State of Illinois entitled "An Act to Provide for the Incorporl.tion of Cities and Villages," approved April 10, 187, and all acts amendatory thereof or supplemental thereto, an,d it is hereby certified end recited that all aets,conclitions and things required by la!a and the Constitution of the State of Illinois to be precedent to and in },he issue of this bond have bean properly' done," happened and perforr_ed in reul �_r and due form and time as renuired b.y lair and that the total in- debtedness 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 �.11 othFr taxes on a1.1 of the taxable pro;�ert,y in said village sufficient to pay the interest hereon as the same accnues and to liquidate the principal hereof at maturity. In testimony- iThereof the said villarre of P?c Henry, by its village board, has caused its corporate seal to be hereto afTixed and this bond to be signed by its president and attested by its village clerk this first day- of September, 1J11, A�TIi,ST Village Clerk, FORM OF COUPON. Pres�der_t. On A. D. the Vi11 �.ge of I'�cHenry, in the County of l�scl?enr,y and State of Illinois, will pay to bearer the sum of Twelve (12) Dollars and Fifty (50) cents in lawful money of the United 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 1, 1911, No. President Attest: Villa.` e C1er1„ Section 3. That said bonds and interest coi.,pons shall be signed b,y the .President and attested by the signature of the Clerk of said village and the corpor<.te seal of said village shall be affixed to each of said bonds, but not to the interest coupons, and such officers are hereby authorised 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 board of trustees and the proceeds ��rived from their sa1_e shall be pl_acod in the village treasury in a special fund to be used solely for the purpose for �rhich said bonds recited they are being issued. Section 4. That for the purpose of providing the funds roquired to meet the interest on said bonds promptly when and as the same accrues and to liquidate the principal. thereof at their maturity, there is hereby levied on all the taxable property in said village, in addition to all ether taxes, the follo;Fring direct annual taxi to -grit: For the ,year 1912 a tax sufficient to produce the sum of $337.50 for interest. For the near 1913 a tax sufficient to produce the stun of $1450, being $450 for interest and $1000 for principal. For the year 1914 a tax sufficient to produce the sum of $1400, bei7�g $400 fnr interest and $1000 for principal,. For the ,year 1915 a tax sufficient to produce the sLtm of $1350, being $350 for interest and $1000 for principal. For the ,year 1916 a tax sufficient to produce the sum of $1300, being $300 for interest and $1000 for principal. For the year 1917 a tax sufficient to produce the sum of $1?50, being $2:�0 for interest and $1000 for principal_. For the year 1918 a tax sufficient to produce the sum of $L200� being $N00 for interest and $1000 for principal. 5 For the ,year 1919 a t,_:,.x sufficient to produce the sum of JP1150, being f for interest and 01000 fo-r principal. For the year 1920 a tax sufficient to produce the sur of o1100� being m100 for interest and m1000 for principal. For .:.he year 1921 a tax sufficient to produce the sum of �1050, being50 for interest and1000 for principal. And a certified copy of this ordinance is hereby ordered filed with the County Clerk of 1;'Cllenry County, Illinois, who shall in e.q-.ch of:,paid ,years from 1912 to 19�1, both inclusive ascertain the rate per centum to produce the aggrege-te tax herainabove levied for such year un��_ extend the same for collection upon the tax roll of said village in connection ith the taxes levied for general village purposes in such year anA such annual tax shall be collected by the s?.icl officer at the same time anA in the same manner in each of said ,years as the taxes mf the village for (renera.l purposes for such year are collected, and ti�rhen collected shall be used solely for the purpose of paying the interest and principal of the bond herebsl authorized when and as the some mature. Section_ �. That this ordinance s.'nall be in full force and efFect from and after its passage and approval bar a majority of the legal voters of the Village of i'��eHenry voting at a special election to be called hereafter. PresicJ.ent i nTTEST: Village Cleriz. PASSED AI�P�OVE�