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Council :;Minutes
?ulaski, Virginia
July Ord, 19`9
the Council of the Torn of Pul~~srii,Vir~,inia, net
in c;U~OUrn_lent Of SpeClc~s. SeSS10:1, c tile. rerUlur f''t1.nT
place 121 S~.id '~04`arl, &t Five O ~ ClOCk !~. _.l. itilE :1e, tln~, 4'JaS
called to order and t!-acre ti~ere prese4Tt i? . o:. C~lfee, Mayor,
it the Chair, a.nd t:ie f'ollo;~rin~ nG.1ed. Cou~zcilMen: rhos . J.
',r`allner, ~ . h. Ce~.~~le, r.. i'. £.skriugi;, J. i;. aunts, i
. L.
J~~:nes, G. C. mall, L. i.. ~rhitesell, nd r. :i. Bushono.
tibsent, IVone.
Council~a~:.n x. T. Es'~ri:' ~ e :novel tn~, t the
resolution entitled,
:": ''Ft~50~UTI0N providi~~,~ for the issu-
'-~' ance of 1;;:40,000 ,yYG tf. r~~aorks Re unairg
"~" Bonds of the 10'+TTl o, i'ulGski, Pulaski
~ County, Virginia., ~:.a pr~victin~,: for
the levy of c.. tG.x to pa,y tl•_e s~rne,"
v~hich was introduced on June ;9th, l:`~9, nova be placed
upon its final adoption, v°ahicn va~.s sEconled by Councilu~lan
Thos. J. bu`a.llnor. lifter due conslaer'~itlorl, the iri~yor put
the ouestion, Gnd the roll being called on the rnation, the
follovring voted:
byes: Thos. J. '~ua11n~T-, ~ . t .~e~ ~~le, ~:. T.
Eskrid~•~e, J. E. Luntw, y'. L. J~.iiES, ~:. C. riGll, L. E. •'
. 'r~izitesell, and h. :;I. Lushong.
i`1ays, IJone.
'~Gnereupor~ the -~ayor dECl~.red s~:id ~~otion duly
carried.
On motion and vote tl:c-,__leetir~~-; ud~our•Tied.
,,
Ir.~•or __
~_tte~t:
_ ~ ~~~~
Tovan Clerk.
7~
Council :~inutes Cont.
Pulaski, Virgina , July ~, 199
RESOLliTI0I~1 providing for the issu-
ance o14,u0,000 '~~<_ter~rorks Refunding
Eo~Zds of theoti~~ri cf Pulaski,
Pul~.ski County,~irg,inia, and pro-
viding f'or the leti y of" U tu~_ to pay
the same.
,: ~ ;, ~:
tiyHEnLt~S, the Tovrn of Pulaski, Virginia, did heretofore,
under date of July 1, 1949, cause to be issued its 'ratertivorks
Bonds in the sum of X40,000, bearing interest at the rate
of Five Per Cent (5~) per annum, due July 1, 19:9, nusbered
one to forty inclusive, of ~1000.C0 deno,nination, and all
of said bonds are novr outstanding and unpaid, and there are
no funds available for pay;~ent of same; and
6'~HE3LtiS, said Tovrn dee>as it advisable and necess~:ry
for -the best interests of said Tov,n thezt all of s~~.id bonds
be refunded by the issue of refunding bonds bearing a
lovrer rate of interest, thus effecting a substantial saving to
said Tovrn and preserving the financial credit and integrity
thereof; and
~h~fiERE~iS, said outstanding V~ater~rJOrks Bonds of sd..id
Town are valid and legally binding obligations of said Tovrn
and there has never been any litigation concerning the
validity of said bonds, nor is any such litigation _~~eiiding
or threatened, and said Tovrn has alvrays paid the interest on
said bonds promptly vdhen the same beca:;ie due; and
~'~~~iERE~~S ,it is to t~ze best interests of s~:id
Tovrn that said bonds in the amount of ,;;40,000 to be refunded
by the issaunce of a like :mount of u'~~.tervrorks Refunding
Bonds of s~.id Tovrn, bearing G lovrer rr.te of interest;
NOb'V. Tiii;~tLFOR~;, Be It resolved by theTov~n Council
of the Tovrn of Pulaski, Pulaski County, Virginia, as follovrs:
Section 1. Th~_t t~~ere c.re hereby aut~~orized to
be issued negotiable coupon bonds of the 'iovrn of Pul~.sl~i,
Pulaski County, Virgini:~, in the aggregate princi~~al amount
of w40,000, each of vrhich shall be designated as a ~~'~"rGter~,rorks
Refunding Bond, ~~ for the purpose of refunding a like principal
amount of houtstanding indebtedness of s~~id To~~rn referred to
in the preamble hereof.
`79
Council ~Iinuts Cont. Pulaski, Virginia, Jul;T ;~:, 19`9
Section ~. That said ~~'~~ ter~~ror~.s Rcfun? ing Fsorlds be
numbered fro.n 1 to 40, both numbers i:~cluded, be of the denon-:
ination of x.1,000 each, be dated July 1, 19.9, and _~~~ture
serially ~;~,,000 on Jul;r 1 ir. e~.c'_~ of t~.e ycUrs 1940 to 1959
inclusive.
Section 5. Tllat suciz bonus sh_~11 bear irtErest at the ,
rate of T:~o and One-HGlf Per Cent (~ ~;') per annum, payable
semi-annually on the first days of July and January in etch
year; that interest on s~.id bonus be savicAenced by proper
coupons attached to each of said bOt1i::~:; a.nd th~.t both principal
Gnd interest be pay«ble dt ~heChase i~~_ tion~_i isank of tine
~~' City of iJe~w~ York, in the City of I~1e:~: ~"ork, NF~~zr~ York.
~:!`:
~~
~C Section 4. That such bongs and ccupons be in substun-
d
tiall~~ the ~follocfring form:
(r OI~d OIL` BOND)
UTVI'1'1a STATES OF' r.~.il_TCti
CO~I~~IUV';~'EtiLT~i Or VITiGIiIA
COUTITY 01!' PUL~.SI~I
TO'~~ld 01.E PuLtiSi~I
V'lIr TtiT~'~IO1~S nLr uTdi.~IlJi.i i~OIvD
Nunber
~1, 000. '
K~O~u 1a1~L idETV 3Y THE~~E P%B~~Bi~'i'~~: i'hat the 1'o~rn of Pul~.sDfi,
ili the County of Pulaski and Co.n:aon~°~e_Llth of Virginia, for value
received proilises to pay bearer the su:n of One Thousand Dol-
lars (;,1,000) on the first dad, of July,-, 19 , ~.nd to pay
interest on said sun from the date he'°eof until paid at the
rate of T,~ro Gnd One-Half Per Cent (~,z ~j per a_nnun, payable
semi-annually on tine first days of Ju.~y and January in each
year, on presentation and surrender o~' the interest coupons
hereto attached. Both principal and interest ~.re payable
in lavrf'ul money of the dnited States :;f timericU at the Chase
TJatior~al Bank of theCity of iVec; York, in theCity of Nevi York,
NeP~ York.
~;
~~
Council ;~inutes Cont. P ala ski, Virginia, July ~, 199
This bond is issued by theTo~°m of Pulaski pursuant to
and in strict co~~pliance vrith the provisions of Section X090-b
et seq., VirginiaCode of
and supplernentay thereto
the Council of s«id Tovrn
1~~9, for the purpose of
and binning bonded indeb
196, and x.11 lays a.mei~u~ tort' thereof
and in conformity to a resolution of
duly passed apd apy~roved on July ord.
refunding a like amount of leg~:l, v~;lid
tedness of s~:i~iTo~rn.
and it is hereby certified and recited that all acts,
conditions and things reuired by the lays and Constitution of
the Co~mmonvrealth ofVirginia to be done precedent to and in the
issue of this bond and precedent to a..Zd in the incurring of the
indebtedness hereby refunded 'nave been yoroperly done, happened
and been performed in regul~.r and due .corm anti time as re:~uired
by lavr; that the f~:ith, credit, resources ~.nd ul1 of the taxable
property in said Town are irrevoca~.ly pledged for tze prompt
payment of the principal anu i}Merest Zereof as t'ie s~...:ne become
due; anti that the total indebtedness o.' s~{id Tovrn, i~lcluding
tn.is bond, does not nova, and did not ~ ~ the time of incurring
the indebtedness hereby refunded, incl zding, s~.id indcbteancss, •
exceed any constitution~:.l or sty:tutory y~rovisions or ~.i::~.ittions of
indebtedness, taxation or other y:ise.
I~~ TE,~1L.i0IJY '~'~~ir/REOr, the s~.id Tovrn, by itsCouncil,
has caused t'_~iis bond to be signed by its ~+1~_J°or ~.~nu ~:ttested b~:
its Clerk, vri th the seal of s~Aid Tovrn ~.tt~.ched, and talc coupons
hereto attached to be executed vrith thf facsimile signatures of
said off'ici~~ls, and s,-~id =~ayor ~:nd Clel°k do, by the execution of this
bond, each adopt as and for his o~~:n orc~per signature his fa.csi~~=1e
signature appearing or: each:. of said coupons, x:11 the First
day of July, 199.
:Zayor of the To~;~~n of Pulaski, Pul~~ski
County, Virlni4.
fittest:
Clerk of the Tovrn of Pulsski,Pulaski
County, Virginia..
Coancil _~Iinutes Cont.
(FOh:~1 OF COUPOPI)
iva. ~~~Er
p=-Y to
L'oll~:r
19.
in the
on its
~~
Pa~ _. ski, v ir~i~lya, July ~ , ~~~9
4r
t1e To!-;n of 1°~~;1€: ski, P-~1.-~'~i =oi~,~t;,r, `vir_~ir~iu, ::ill
b e ~ r e r __ --- - -- ---- - ------ -----y-
~ ~;~ _--) Oil tlE _~1T'st ~..;~" OI --
_, at The Gnuse 14€:tio.!€:l ~_ rk~ of t'.~e C it;;r of i~3e': York,
City of Ide~~:~ fork, i~1~~~~: Yor:~, i .~r interF~ st dui t~_r t day
~,~~.ter~rorks I=.el"anczin~ ~onc~, ~_ ~.ECi Jule 1, 199, nu.ube!~c-
€.yor of the `~.'o1Y1 of Pulu~ki,Pul~-~i
CoutZty, '~ irgini~.
~~
Attest:
~~
Clefk o1' ttiieoL:n of Pul€.ski,Pulaski
County , Vir~~•inia.
Section 5. Taut such bon.l:,. s~all ~e signed by the
«uyor and atteste-d by the To~rdn Clerti, -:•'_it:~: tr.e Seal of the Torn
affixed, ana tTie interest coupons at',~.c~!ed tl!ereto s:~.!ull be
executed by staid :.iayor ~.nd'io~.m Clcrk by their r: al~ec.•tive
facsil:~ile sugnatures.
Section 6. That the ~~~~uter orks .ie~tuno.in,T ponds ',.erPby
a uthoriseci be executed ~: ~, c l:~ei~l j~~ o~, -:. _lc:d a:. _ o.~n u~ t~.r tti!e
ado:~tion of this resolution as .icy bF ~r:u be ti!ereu~,on
delivEred to the purc'r!;~.sers thereon', Caarles ti. Rinsch &
Corap~ny, Inc., and G.SJOClc~tE'S, ut th{ Trice of p€r and ~.cerued!
interest G.nd .greed pre:iiu:n of ~,~C6.~.'0, Gnd th~~t si.l1ult~ne„~ts1y
:~,itT~ t'r!e delivery of Sciu. ~~n'unuing ;_on.s tT!e ~~€.ter~,~orks pond;s
of said Torn d€~ted July 1, 1909, Us l~.ie!~tiiied i~~ the pre~_~n'o~,
of t_~is resolution and ~~erel~y Gut~~orized• to to rey'!~nded, shs.l~'
be n€:id and canceled, so tr!~.t t:~e inc;ebted__e s o~ solo 'I'o~~^Jn
s~.€.11 r;ot be incre~~sed for orie .~o.~ent of t.i~ne.
Section 7. Ti.Gt for t~~.e pur ~~ose o~~ ~~rovi dine the
nunds re iuired to ~~::J, t~1~ inte7°est or; :.~..iu 'co:}is pro:-~?~t1; 4r`her
~~
€;.nd :;.s t'_ne s~:ne 1-,lls due, end t.o ~~.;~ ~,~,.. ~ is~h~rge the
}~ri_~cipal t:lereof ~.t maturity, it is ~.Ereb~r orc.~ered that
tTie necess~.ry tux on all the t4x~._lale ~~::~o;port;;~ i;1 s~ i~-: To~~~m ~'
~`
be an:~aal.ly levied end entered. 1 or collet ;,ion on tree tax book
in connection vvitz other t~.~:es levied iri ec ch of suci! years