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HomeMy WebLinkAbout009 - 05/27/1907 - PROVIDING FOR THE CONTRACTING OF AN INDEBTEDNESS BY THE CITY IN THE SUM OF $47,080, FOR THE PURCHAS proposed Ordinance. Public notice is hereby given that the following ordinance was in- troduced, read and ordered printed, at a regular meeting of the city council of the city of Fort Collins, Colorado, held on the 15th day of April, A. D. 1007. City Clerk. Ordinance No. of the Series of IJO7. ,ui ordinance providing for the contracting of aii indebtedness by the City of Fort Collins, and upon the credit thereof by the issuance of the negotiable bonds of said city in the sum of forty-seven thous- ans and eigiity dollars ( $47080.00) , for tue purchase of land for the purpose of a public park. Whereas, at the regular election for officers of the city Of Fort Collins, held on the 2nd day of April, A. D. 1907, there was duly sub- mitted to the qualified electors of said city, the question of inc:ur- i,ig an indebtedness of forty-seven thousand and eighty dollars ( $47080.) and issuing bonds of said city for said amount in payment of the tract of land hereinafter described, for the purpose of a public park; and Whereas, at said election a majority of those voting upon said question voted in favor of incurring such fndebtedness and issuing such bonds; now therefore, BE IT ORDAINED BY THE CITY COUNCIL 02 THE. CITY OF FORT COLLINS, COLORADO: Section i. That under the direction and supervision of the com- mittee on finances there be issued the negotiable bonds of the city of Mort Collins, to the amount of forty seven thousand and eighty dollars ($47080.00) for the purpose of paying for the following described tract of land to be purchased by said city and used by the inhabitants thereof' for the purpose of a public park: viz , A portion of the east half of the southwest quarter of section 10 township 7 north, Yange 30 west, more particularly described as fol- lows, to wit : Commencing at a point 726. 1 feet south of the northwest L corner of the east half' of the southwest quarter of said section, thence running eas� 9 53 feet to the center line of Larimer County Canal No. 2; thence along the center line of said canal south, 14' 30' east, 300 feet ; south, 280 east, 574 feet ; south, 3° 3(f west , 450 feet ; south, 4204(Ywest , 350 feet ; south, 6030' west , 137 feet to a point 251. 1 feet north of the south line of said section; thence west and along the north line of the lands of Sarah Groh to the west line of the east half of the southwest quarter of said section; thence north to the place of beginning. Also commencing at a point 950 feet west and 570 feet south of the intersection of the center line of West atiountain avenue with the center line of S)g elds street ; thence south to the south side of section 10, township 7 north, range 6J west , J50 feet west of the southeast corner of said section 10; thence west and south- westerly along the section line and the center of the county road to the center of Larimer County Canal No. 2 : thence northwesterly along the center line of said canal to a point 570 feetsouth of the center line of West Mountain avenue extended west ; thence east to the place of beginning; both of said described tracts of land containing in the aggregate 106. 7 acres, more or less, and being in the county of Lari- mer and state of Colorado. Section 2. That said bonds shall bear interest at the rate of five per cent. per amium, payable semi-axuivally fit theca f the treasurer of said city,A and shall sealed with the corpora a seal of said city, signed by the mayor, attested by the city clerk and counter- signed by the treasurer of said city, and ,otherwise shall be in such form and denomination, and negotiated, registered and redeemed in such manner as the committee on finances shall direct. Said bonds shall be absolutely due and payable witiiin fifteen years after the date tnereof and shall be redeemable at the option of said city at any time after ten years from the date thereof'. Said bonds shall be duly executed and dated as soon as expedient after the adoption of this ordinance. Section 3. That there shall be levied an annual tax, in addi- tion to all other taxes, not to1exceed twelve mills on each dollar of valuation of taxable property within the city of Fort Collins, suffi- cient to pay the annual interest of said indebtedness and provide an annual sinking fund sufficient to extinguish the principal of said in- debtedness within fifteen years, but not less than ten years, from the date of the issuance of said bonds. Such tax, when collected, shall be applied only to the purpose of the redemption of said bonds. u� t�WIC,CAW, The foregoing ordinance was read and ordered printed at a regular meeting of the city council of the city of Fort Collins, Colorado, on the� _15th day of April, A.D. 1907, and was printed in the Fort Collins ` " � a weekly newspaper of general circulation published in said city on the17 day of April, A.D. 1907,' and was duly passed and adopted by said city council at tao regular meeting, thereof on the 2001h day of Iday, A.D. 1907,., Attest : - City Clerc.