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HomeMy WebLinkAbout5537-12.20.1923 RE S OL UT I OT NO. 5537 A RESOLUlION AUTHORIZING AND DIRECTING THE ivAYOR „II CITY CLERK OP ThE CITY OP WATERLOO, IOWAO_ EXECUTE TO Aim DELIVER SEWER 3ONDS TO TEE DEARBORN CONSTRUCTION COIM P 1 Y FOR CERTAIN SEWERS LAID BY IT ON THE STREETS OF THE CITY AUL ASSES r:L TO ABUTTING PROPERTY OWNERS. BE IT RESOLVED BY THE CITY COUNCIL OP TIE CITY OF WATERLOO, IOWA: That the -D a.yor and City Clerk of `.::ater1oo , Iowa, be ana they are hereby authorized ana directed to issue, execute and deliver sewer bonds ander the provisions of Chapter 8, Title V of the Code of Iowa, and acts a lend tort' and supplemental thereto , for the aggregate sum of y 20 ,1: 4.46 , to oay the cost of certain sewers which has already been assessed according to law against tie privfJtely owned property abutting on the following parts of streets and avenues: _la 8" sewer on oertch Avenue extending from the center line of Denver street to the center line of Kimball Avenue. A 12" sewer on Kimball Avenue extending from the manhole on .der tch Avenue to the center l in e of Mitchell ilvenue. A 8" sewer on Kimball _venue extending from the manhole on 3ertch Avenue to a point 180 feet north. A 12" sewer on forest Avenue extending from the Dryun Sewer to the manhole in West Ninth Street . 8" sewer onenver street extending from the end of the present sewer about 280 feet northwest of the manhole in 'Jest Second street , to the sewer on dullivan street . A 15" sewer on Jaltimore street e tending from the end of the sewer which is about 180 feet south of the center line of Eureka Street to the center line of Cornwall _;_venue. A 15" sewer on _`rospec t Blvd.. extending from the manhole in Berkshire Road to the city limits. An 8►T sewer on Columbia treet, extending from the r .nhole on Conger street to a point 200 feet north. A 10" sewer on -11enwood ;street extending from the eenter line of Linden Avenue to a point 90 feet west of the west line of steely Street . Said sewers having been laid under a certsin con- tract between the City of I`.aterloo , Io E,, and the _Jeaa:r'born Construction Company entered into the 16th day of April, 1923. • said bonds shall be issued in rr,.i.ne series , and in denomination and payable as follows: Series 1925 Bond No. 29 in the sum of • 134 .46 due kay 1st , 1✓25 pond No. 30 in the sum of 50C-O.00 cue May 1st , 1925 Bond No. 31 in the s u m of ; 500 .0 0 due May 1st, 1925 Bond No. 32 in the sum of •Tx30O.00 cue May 1st , 1925 Bond No. 33 in the sum of 4500.00 due Lay 1st , 1925 Bond No. 34 in the sum o_ . 50 C .00 due May 1st , 1925 Boned: No . 35 in the sum of 500.00 due laay 1st , 1925 • Bona No. 36 in the sum of ;„,500.00 due May 1st, 1925 2 553 Seri es 1926 Bond iv o. 37 in the s um of *500.00 cue Lay let , 1926 Bolo. No. in the sum of 500.00 due hay let, 1926 Bond No. 3cr in the sum of ; 500.00 cue day let , 1926 Bond No. ltD in tr_e sum of 500.00 clue hay 1st, 1926 series 1927 Bona. No. 4/ in the sum of -:500.00 due i.ay 1st , 1927 one Ho. Li-a/ in the sum of it500.00 due .i , 1st , 19927 Bond No. 23 in t sum of v500.00 due i a ; 1st , 1 i27 Bond No. OL in the sum of 50 0.0 0 due May let, 1927 Series 1928 Bond No. 46' in the sum of -?500 .0u cue i,iay 1st , 1928 Bone No. b in the sum of y500.00 due tLay 1st , 1928 Bond No. IF7 in the sum of ,t 500.00 due May 1st , 1928 Bond No. (4 in t rle sum of v600.00 due Lay let , 1928 series 1929 Bono No. 41 in the sum of . 500.00 due May lit , 1929 Bona No. d in the sum of s>500.00 cue Lay let , lt.i2,9 Bond N o. 61 in the sum of ip 500.0 0 due a y 1st , 1929 Bona. Tvo. in the sum of ; 500.00 due Lay let , 1929 series 1930 Bond No. S3 in the sum of w500.00 due hay 1st , 1930 Bona No. St in the sum of 500.00 due i-ay 1st , 1330. Bond No. 3S/ in the sum of %?500 .00 due 'day 1st , 1930 Bond No. 3 6 in the sum of e 500.00 due ay let, 1930 So i fes 1931 Bono. No. fl in the sum of Q500.00 cue May let , 1931 Bond No. S'I in the sum of - 500.00 due Lay let , 1931 Bond No. 6 6f in the sum of 500.00 cue May let , 1931 Bond No. b0 in the sum of ; 500.00 due ay let , 1931 3 55-3 3] IS 1932 Bond Do. 61 in tee sum of ; 500.00 cue Day let , 1932 Bond No. 62 in the sum of <?500.00 cue i.,ay 1st , 1932 Bond Do . 63 in the sum of 450C .00 cue Day 1st , 1932 Bond No. 64 in the sum of ; 500.00 due Day 1st , 1932 _,.}, IES 1933 Bond No. 65 in the sum of 4500 .00 cue 11a.y 1st , 1933 Bond No. 66 in the sum of w500.00 due May 1st , 1933 Bond No. 67 in the sum of 500.00 due .y let , 1933 Bond No. 68 in the sum of 500.00 due lay 1st , 1933 Bond No. 69 in the sum of 500.00 cue Day 1st , 1933 :aid bonds shall bear interest at the rate of 6% per annum payable annually on the 1st day of oiay in each year bekin.ning Lay let , 1925 from the 12th day ofovember, 1923, shall be registered as provided by law, and shall be delivered: to the Dearborn Construction Company in payment of the work done under the contract hereinbefore referred to. The City of Waterloo assumes no other obligations in re- gerd to the payment of said bonds except that sufficient valid. assessments nave been made against private property aloe- the line of said improvement as provided by law, and to hold the proceeds from such assessment for the payment of said bonds and the interest thereon, and to apply the _3oney received from said assessments in payment of said bonds and interest and for other purpose until said bonds and. the interest thereon are fully paid:. ,Da id bonds shall be in form substantially as shown by Sect ion 843 of the Code of Iowa, shall be date a. the 12th day of November, 1923, payable at tale office of the City Treasurer o:f the City of ' aterloo , Iowa, and said bonc_s, coupons and certificate of reistration thereon shall be substantially the followin form: (Form of Bond) 5 k w4 if Act 4 '1 etate of Iowa City of aterloo Sever Bond. eris The City of v aterloo , in the State of Iowa, promises to pay as hereinafter stated, to the bearer hereof, on the 1st day of Joey, 19 , the sum of dollars with interest thereon at the rate of p r annum, payable annually on the prose:_tation nd.. surrender of the interest cou �ooy hereto attached.. :Both principal and interest of this bond are payable at tue office of the City 2reasurer, aterloo , Iowa. This pond is issued} by the City of 'aaterloo under ande by virtue of Chapter 8 of Title V of the Code of Iowa and tee resolution of the City Council of said city duly passed on the 26th day of Feb. 1923. This bond is one of a series of bonus of like tenor r nd date and in amounts and with maturities as specified in the resolution printed on the back hereof numbered from twenty-nine to sixty-nine in- clusive and issued for the purpose of defraying part of the costs of constructing sewers on certain streets and avenues in the City of haterloo Ioa a, as describe°, in said resolution, which cost is -payable 55317 L - by the assessable property abutting* said, improvement as _rovid_ed by law, and, is made by law and resolution of said City Council a lien on all of said property and by special assessments payable in ten annual installments v ith interest on all deferred Vie,yments from tine, 12th day of ITovember, 1923, at the rate of 6:j p: r annum, and this bond is payable only out of the sewer fund created by the c.o=.lection of said special tax and said fund o ,n Je used or no other purpose. The riprht is reserved by said City to pay this bond before maturity out of said special fund upon giving thirty days' notice by ail to the owner in whose name this oond is registered , of its intention o to do . And it is hereby certified an.d recited that all the acts, condi- tions and t nines required to be done , precedent to and in the issuing of this series of bonds, have been done , happened and performed , in regul _r and due form as required by said_ law and resolution; and for the assessment , collection and payment hereon of said special tax the full faith and diligence of said City; of v a terloo is hereby irrevocably pled gyred. IT`S TiiSTLIONY WHEREOF , the City of Waterloo oy its City Council , has caused this bond to be signed by its Liayor and countersigned by its City Clerk with the seal of said City affixed as of t ne 12th day of <ovember, 1923. lay or , City Cler , =F Coupon) of Coupon) o apon No. On the 1st day of hay, 19 , the City of Waterloo , Iowa, promises to day to bearer as provided in said bond the sum of 4 at the office of the City Treasurer o" the City of aterloo, on year' s in- terest rue that day on its sewer bore o. , dated the 12th day of ltiovem :er, 1933. layer, ( . oiii of ylegistration Certificate ) T . �� �, s Lly office th _ day This bone duly and pr�- erly re .l�tered in � o�� i�,e � of , 19 City Clerk It is hereby jnaoe the c uty the Treasurer off the City of aterloo, to apply the funcs received by him from said special assess lent s in pc.y- rent o ' the bonds authorized by this resolution and issuea.. by virtue hereof, and. the payment of interest thereon until said bonds and interest are paid in full. ' c o pt et anc -roved t his O day of q10. sz,,,,- , 1923 At s : > `� 117 ity_�'1e. .