AUTHORIZING THE CITY OF WATERBURY TO ISSUE FUNDING BONDS. Resolved by this Assembly: SECTION 1. That the City of Waterbury be and it is hereby authorized to issue bonds under the corporate name and seal of said city, to be signed by its Mayor, and countersigned by its clerk, to the amount of one hundred thousand dollars, bearing a rate of interest not exceeding four per centum per annum. Said bonds shall bear date July first, 1899. and shall be for the amount of one thousand dollars each. and it may be stipulated therein that the principal and interest shall be payable in gold of the present standard of weight and fineness. Of said bonds there shall become due and payable on the first day of July, 1905, the amount of ten thousand dollars, and on the first day of each succeeding July thereafter, the amount of ten thousand dollars shall become due and payable until the final amount of ten thousand dollars becomes due and payable on the first day of July, 1914. SEC. 2. Said bonds shall be known and called the Funding Bonds of the City of Waterbury. The Board of Aldermen of said city shall prescribe the form of said bonds, determine the place and manner of payment, and fix the date and rate of interest they shall bear, not exceeding four per centum per annum; and shall, at least thirty days before the date of issue, advertise for proposals or bids for said bonds to the amount of one hundred thousand dollars, said proposals to be under seal and opened in public by said Board of Aldermen at some time and place by it appointed. No bids shall at any time be accepted for less than par, or the face value of said bonds and the accrued interest thereon. SEC. 3. Said bonds, when so executed, issued, and delivered, shall be obligatory on said city and the inhabitants thereof, in the same manner and to the same extent as debts lawfully contracted by municipal corporations in this State, according to the tenor and purport of the same. SEC. 4. Proceeds derived from the sale of said bonds shall be paid to and received by the Treasurer of said city, and shall be expended only for the purpose of paying, canceling and retiring the floating debt of the said City of Waterbury, as the same existed on the first day of January, 1899, together with accrued interest on the same at the date of payment, cancellation, and retiring of said debt. Approved May 11, 1899. AUTHORIZING THE CITY OF WATERBURY TO ISSUE STORM WATER DRAINAGE BONDS. Resolved by this Assembly: SECTION I. That the City of Waterbury be and it is hereby authorized to issue bonds under the corporate name and seal of said city, to be signed by its Mayor and countersigned by its clerk, to an amount not exceeding one hundred thousand dollars in the whole, and bearing a rate of interest not exceeding three and one-half per centum per annum. Said bonds shall bear date January 1, 1901, and shall be for the amount of one thousand dollars each, and it may be stipulated therein that the principal and interest shall be payable in gold of the present standard and fineness. The principal of said bonds shall be payable twenty years from the date thereof, and both the principal and interest thereon shall be payable at such place as the Board of Aldermen of said city shall designate. SEC. 2. Said bonds shall be known and called Storm Water Drainage Bonds of the City of Waterbury. The Board of Aldermen of said city shall designate the amount of such bonds that said city shall issue, not exceeding in the whole the sum of one hundred thousand dollars, prescribe the form of said bonds, determine the place and manner of payment, and fix the rate of interest they shall bear, not exceeding three and one-half per centum per annum, payable semi-annually; and shall, at least thirty days before the date of issue, advertise for proposals or bids for such portion of said bonds as it shall have before that time designated to be issued at such date; said proposals to be under seal and opened in public by said Board of Aldermen at some time and place by it appointed. No bid shall at any time be accepted at less than par, or the face value of said bonds and the accrued interest thereon. |