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Newspaper
Sidney Telegraph
Location
Sidney, Nebraska, United States of America
Date
Jul 24, 1925
Page
4
The Mayor and City Council of Sidney Nebraska meet July 17 1925 to authorize the refunding of outstanding electric light bonds totaling 70000 and water bonds totaling 99000 dated 1920 without sinking fund funds, issue 169000 of five percent refunding bonds dated October 1 1925 to retire all principal by October 1 1940, with public notice for objections due August 12 1925.
The City of Sidney Nebraska approves a proposal from Western Securities for refunding Electric Light Bonds of 70000 dollars and Water Bonds of 900000 dollars issued Oct 1 1920 and due Oct 1 1940 6 percent interest and confirms notices and affidavits of publication and posting prior to council action approved by majority vote with no nay votes and official proceedings recorded.
The Mayor and Council of Sidney Nebraska declare unpaid bonds of 169000 dollars. Electric Light Bonds amount 70000 dollars dated October 1 1920 due October 1 1925 with 6 percent interest, issued by Ordinance No 181 approved September 22 1920.
The document records a bid acceptance by Fred E. Stephens on behalf of the City of psidner, with a good faith deposit of 2000 dollars and a premium of 23 Hay amounting to 82 800 dollars. The Western Securities Co and Omaha Neder Ry are involved, with Thomas Burrehy as vice president, and the undersigned agree to the offer under its stipulations and conditions.
The city council introduced Ordinance No 190 authorizing the issuance of refunding bonds totaling 169000 dollars and providing for levy and collection of taxes. After first and second readings the measure passed to third reading with all present voting yea, and was declared duly passed and adopted with signatures affixed.
Ordinance 196 authorizes issue of 169000 dollars in Refunding Bonds at 5 percent, due October 1, 1945, to retire outstanding Electric Light and Water bonds from 1920 1925. Notice published in Enterprise and Telegraph with objections period. no objections filed. Bonds dated October 1 1925, signed by Mayor and City Clerk with city seal.
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