Ordinance 1662 - Laserfiche WebLink

• . • , Averett voting at said election upon the proposition hereinbefore in this ordinance set forth, shall vote in favor of said proposition, thereupon, the system or plan, as the same is set out and described in Section 1 of this ordinance, to construct £hp- pipO'line herein des- cribed, at an estimated cost of six hundred thousand ( 600,000) dollars , including all engineering and legal expenses necessarily to be incurred in acquiring the same, and that the city of Averett pay for the same by the issuance of bonds, as provided in Section 3 of this ordinance, shall be and become adopted by the city of Averett. Section 7: That 'if said proposition, as hereinbefore set forth, be adopted and ratified by the voters of said city of Averett voting at said election, the city council of the city of Averett is hereby authorized to issue, for the purpose of providing a fund to pay for t a system or plan so adopted and ratified, as set forth in this ordinance, the general negotiable coupon bonds of the city of Averett in the sum of six hundred thousand ($600,000) dollars. Section 1r: The money derited from the sale of the bonds herein authorized, shall be drawn upon solely for the purpose of paying the cost and expenses of acquiring .and constructinuw a and sa . .ufiang the system or plan proposed by this ordinance, and of the cost and expenses connected therewith, and the surplus of the money, if any, from the sale of said bonds, over and above the total cost of said system or plan, shall be applied to the payment of said bonds and interest thereon, as the same may mature. Section Z: This ordinance shall take effect from and after its passage, approval, and due publication, in the manner and at the time provided by law. // q\Air Passed IIIN1 0l 1915 May. Attest „ EE: i ty erg• 1.1 1915 Published