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Resolved: That the City Attorney be and is hereby
requested to prepare proper ordinance for the refunding of
all outstanding city bonds, except those secured by mortgage
on the water works plant, and to report the same at the
next meeting of this council.

RESOLVED: That said refunding bond sall bear four
per cent interest, and be redeemable at the option of the City
after five years.

RESOLVED: That the holders of all existing bonds,
except said bonds secured by mortgage on the water works
plant, shall have the right ot depostit same with the City
Auditor and receive in exchange therefor refunding bonds for
the same amount as the bonds so deposited, and also receive
from the City Treasurer all the interest due on existing bonds
up to the date of said refunding bonds.

RESOLVED: That the City Attorney be and is also
requested and directed to prepare proper refunding bonds and that the City Auditor be required to ascertain the cost of
engraving same and report to the next meeting of the Council.

RESOLVED: That all of said bonds shall be of one series
and that said ordinance provide for the levy of taxes
to pay interest and create a sinking fund on said bonds.

M. A. Spoonts
J. F. Henderson
R. H. Tucker
Finance Committee