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HomeMy WebLinkAbout5319-12.22.1922 RESOLUTION NC. A RESOLUTION AUTHORIZING AND DIRECTING THE MAYOR AND CITY CLERK OF TEE CITY OF WATERLOO, IOWA, TO EXECUTE AND DE- LIVER STREET IMPROVEMENT BONDS OR TEE COST OF IMPROVING, BY THE CONSTRUCTION OF SIDEWALKS ON THE FOLLOWING STREETS IN TEL CITY OF WATERLOO, IOWA, WHICH COST HAS BEEN ASSESSED AGAINST PRIVATE PROPERTY ABUTTING, AS REQUIRED BY LAW, AND WHICH WORK AS DONE UNDER ONE CER- TAIN OETRACT YJITH C. A. SHEPHERD & SON, DATED AUGUST 8,1922. BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF WATERLuO, I OWA: That the Mayor and City Clerk of Waterloo, Iowa, be and they are hereby authorized and directed to issue, execute and deliver Street Improvement Bonds under the pro- visions of Chapter 8, Title V, of the Code of Iowa,and acts amendatory and supplemental thereto, for the aggregate sum of 0 ,92r ,14 Dollars, to pay the cob(' uf the construction of sidewalks which has already been assessed, according to law, against the privately owned property abutting on certain parts of the following streets in the City of Waterloo, Iowa, viz : On the Northwest side of Duryea Street acros the C. R. I. & Y. R. R. and the W. C. F. & N. R.R. righs of way, On the Northwest side of Black Hawk Road from the Southwest side of Falls Avenue to the North line of Downing Street , On the East side of Fletcher Avenue from Third Street to the alley North of Home Park Boulevard, On the North side of Home Park Boulevard, begin- ning 60 feet East of Fletcher Avenue to Michigan Avenue, On the Northwest side of Vaughn Street from Westfield Avenue to the C . R. I. & E. R. R. main track, On the West side of Knoll Avenue, from Fa ls Avenue to Downing Street, On the North side of Baltimore Street from 43 feet East of the East line of Sullivan Avenue to a point 269 feet East of the East line of Sullivan Avenue; 53)9 also from a point about 373 feet East of the East line of Sullivan Avenue to a point about 389 feet East of the East line of Sullivan Avenue, On the Southeast side of West Third Street in front of Lot 6, Block 6, Whitney and Sedgwick' s Addition, On the Southeasterly side of West Third Street , from a point about 71 feet North of the North- east corner of Baltimore Street to a point about 140 feet North ofMBaltimore Street, On the North side of Reber Avenue, from a point about 93 feet East of the East line of Clough Street , to a point about 168 feet East of the East line of Clough Street , On the Southwest side of Baltimore Street from the Northwest line of West Second Street to a point 44 feet Northwest of the Northwest line of West Second Street, On the West side of Columbia Circle from the North line of Lot 102 to the South line of Lot 101, Kingbard Hill, On the Northwest side of West Second Street from the Southwest line of Baltimore Street to a point about Fifteen ( 15) feet Southwest of the South- west liras of Baltimore Street. said sidewalks having been built under one certain contract between the City of Waterloo, Iowa , and C. A. Shepherd & Son, dated the 8th day of August, 1922. Said bonds shall be issued in nine series, and in denominations and payable as follows: SERIES 1924 Bond No. 1 in the sum of 127 .14 , due Llay 1,1924. Bond No. 2, in the sum of sioq ,00, due May 1st, 1924. Bond No . 3 in the sum of 1$100 .00 , due may 1st, 19'24. SERIES 1925 Bond No._ in the sum. of $ 100.00 , due May 1,1925. Bond No . 5 in the sum of : 100 .00, due May 1 , 1925. Bond No . 6 in the sum of $100.00, due May 1 , 1925. -3. SE±IES 1926 Bond No. 7 in the sum of 0 100 .00 , due May 1,1926. Bond No. 8 in the sum of ; 100.00 , due May 1, 1926. Bond No. 9 in the sum of 0100.00 , cue may 1, 1926. SERIES 1927 Bond No. 2 in the sum of 100.00 , due May 1,1927 Bond No . 11 in the sum of $100.00 , due May 1, 1927. Bond No. 12 in the su.m of $100.00, due May 1, 1927. SBaT S 1928 Bond No. :-.- in the sum of 100.00 0.00 , due May 1,1928 Bond. No. 14 in the sum of 100.00, due may 1, 1928. Bond No . 15 in the sum of $100.00, due may 1, 1928. SERIES 1929 Bond No. 767, in the sum of 100.00 , due May 1,1929, Bond No. 17 in the sum of $100.00, due May 1, 1929. Bond No. 18 in the sum of 0.00.00, due May 1, 1929. 3M -4- SERIES 1930 Bond. No. in the sun of $ 100.00 , due May 1,1930. Bond No. 20 in the sum of 4100 .00 , due May 1, 1930. Bond. No. 21 in the sum of $100.00, due May 1, 1930. SERIES 1931 Bond No. 22 in the sum of t 100.00 ,due May 1,1931 . Bond No . 23 in the sum of < 100 .G0, due May 1, 1931. Bond No . 24 in the sum of 100 .00, due Hay 1, 1931. Bond No . 25 in the sum of 100 .00 , due May 1, 1931. SERIES 1932 Bond No. 26 in the sum of 100.00 ,due May 1,1932. Bond No . 27 in the sum of -4100 .00, due May 1, 1�32 . Bond No. 28 in the sum of $100.00, due May 1 , 1932 .. Bond No. 29 in the sum of 100 .00, due Hay 1 , 1932. • Said bonds shall bear interest at the rate of six ( 6) per cent per annum, payable annually, from the 2bth day of September,1922, and said bonds shall be registered as by law provided, and delivered to the said C. A. Shepherd & Son, for ani in part payment of the work done under said contract above stated and described. '531 The City City of Waterlco assumes no other obligation in regard to the payment of said bonds, except that sufficient valid assessments have been made against private property abng the line of said improvements as provided by law, and to hold the proceeds from such assessments for the payment of said bonds and the interest thereon, and to apply the money re- ceived, from said assessments in payment of said bonds and interest ana for no her purpose until said bonds and the in- terest thereon are fully paid. Said bonds shall be in form substantially as shown by Section 843 of the Code of Iowa, be dated September 26,1922, payable at the office of the City Treasurer of the City of Waterloo, Iowa, and said bonds, coupons and certi- ficate of registration thereon shall be in substantially the following form: (Form of Bond) No. STATE OF IOWA CITY OF WATERLOO STREET IMPROVES BOND SERIES CITY OF WATERLOO, in the State of Iowa, promises to low , as hereinafter stated, to the bearer hereof, on the first day of May , the sum of Dollars with interest thereon at the rate of six f6Fper cent per annum, payable annually, on the presentation and surrender of the interest coupons hereto attached. Both principal 5.3n. -6- and interest of this bond are payable at the office of the City Treasurer, Waterloo, Iowa . TI bond is issued by the City of Waterloo under and by virtue of Chapter Eight , of Title Five of the Code of Iowa, and the resolution of the City Council of said City, duly passed on the 22 day of December , 1922. This bond is one of a series of bonds of like tenor and date and in amounts and with maturities as specified in the resolution printed on the back hereof, and, issuea for the purpose of defraying part of the cost of constructing sidewalks on certain streets and avenues in the City of Waterloo, Iowa, as described, in said resolution, which cost is payable by the assessable property along said im- provements, as provided by law, and is made by law and resolution of said City Council a lien on all said property by special assessments payable in ten annual instalments, with interest on all deferred payments from. SeJtember 25 1922 , at the rate of six per cent per annum, and this cnd is payable only out of the street improvement fund created by the collection of said special tax, and said fund can be used for no other purpose, The right is reserved by said City to pay this bond before maturity out of said special fund upon giving thirty days' notice by mail to the owner in whose name this bond is registered of its intention so to do. And it is hereby certified and recited that all the acts, conditions and things required to be done, precedent to and in the issuing of this series of bonds, have been done , happened mad performed, in regular 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 Wateiloo is hereby irrevocably pledged. IN TESTIMONY WHEREOF, the City of Waterloo, by its City Council, has caused this bond to be signed by its Mayor and countersigned by its City Clerk, with the seal of said City affixed as of the 25 day of September ,1922. Mayor City Clerk (Form of Coupon) Coupon No. On the first day of May ,19 the City Of Waterloo, Iowa , promises to pay to bearer, as provided in said bond, the sum of Dollars, at the office of the City Treasurer of the City of Waterloo, being one year' s 'Iii460V50, interest due that day on its Street Improvement Bond No. 53161 -7- dated September 25 , 1922 Mayor Countersigned: city Clerk. (Form of Registration certificate) This bond duly and properly register- ed in my office as of the day of 19 . City Treasurer. It is hereby made the duty of the Treasurer of the City of Waterloo to apply the funds received by him from said special assessments in payment of the bonds authorized by this resolution, and issued by virtue hereof, and the payment of interest thereon until said bonds and interest are paid in full. Adopted and approved this 1922. Mayor ATTEEM . ity Qierk.