No. 72 Tax Levy upon Taxable Property

TOWN OF NEWELL

Ordinance 72

 

 An ordinance entitled “An ordinance providing for annual tax levy upon the taxable property within the City of Newell, Butte County, South Dakota, to pay the principal and interest upon water bonds of the City of Newell, to be issued as of the date of July 15, 1929”

 

BE IT ORDAINED by the City Commissioners of the City of Newell, Butte County, South Dakota:

 

SECTION 1.  That due steps having been taken pursuant to the statutes and the Constitution of the State of South Dakota for the issuance of Water Bonds of the City of Newell, Butte County , South Dakota, for the purpose of providing water for domesticuses and other purposes in said City, by a repair and replacement of the present water system, and the City Commissioners of said City of Newell, having by resolution dated the 10th day , of July 1929, authorized.the issuance of water bonds of the said City of Newell in the sum of $16000.00, in sixteen serial bonds of $1000 each with interest at 5% per annum, payable semi-annually, said bonds to be paid as follows:  Bond no.1 to be paid on the 15th day of July, 1931 and one bond on the 15th day of July of each year thereafter for fifteen consecutive years, each bond to bear interest from the 15th day of July 1929.

SECTION 2.  That there is hereby levied by the City Commissioners of the City of Newell, Butte County, South Dakota, an annual levy sufficient to pay the interest of said bonds as

the same shall mature and become due, as follows:

 

 For the year 1930,      $800.00

                                                  For the year 1931,     $1800.00

                                                  For the year 1932,     $1750.00   

                                                  For the year 1933,     $1700.00

                                                  For the year 1934,     $1650.00

                                                  For the year 1935,     $1600.00

                                                  For the year 1936,     $1550.00

                                                  For the year 1937,     $1500.00

                                                  For the year 1938,     $1450.00

                                                  For the year 1939,     $1400.00

                                                  For the year 1940,     $1350.00

                                                  For the year 1941,     $1300.00

                                                  For the year 1942,     $1250.00

                                                  For the year 1943,     $1200.00

                                                  For the year 1944,     $1150.00

                                                  For the year 1945,     $1100.00

                                                  For the year 1946,     $1050.00

 

SECTION 3.  The City Treasurer of the City of Newell is hereby required to pay on presentation said bonds and interest coupons as they mature, out of the funds levied for that purpose, as the same shall become due and payable.

 

SECTION 4.  That this Ordinance is necessary for the support of the municipal government and its existing public institutions and that the same shall be in full force and effect from and after the passage and publication thereof.

 

Approved: July 22, 1929.