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iursday,Jun©7;1958 THE McHENHY PLAINDEALER McHenry Plaindealer Phone 170 - 171 Published every Thursday at "McHenry, 111., by, the McHenry Publishing Company, Inc. : NATIONAL EDITORIAL hSocSTsN W. BURFEINDT, Gen'l. Manager ADELE FROEHLICH, Editor SUBSCRIPTION RATE In McHenry County 1 Year 53.00 6 Months 51.75 3 Months $li00 Outside McHtmry County 1 Year . .. $3.50 6 Months •. $2.00 3 Months $1.25 P R E S S IfSt f BssociflTian / Entered as second-class matter at the post office at McHenry, Illinois, under the act of May 8, 1879. miiiiiii ,A LEGAL "xi in Miiiiiiiiiiinii n inn i niiin nun it tit AN ORDINANCE providing for the issue of $160,000 Sewer Im- Sovement Refunding Bonds of e City of McHenry, McHenry County, Illinois, and describing details of issue. WHEREAS, this City of McHenry, McHenry Countyy-Illinois. has outstanding an issue of its ,J>evver Improvement Bonds in °^he principal sum of $160,000, dated May 1, 1956, numbered from 1 through 160, of $1,000 denomination, and the holders thereof have consented to exchange said bonds for refunding bonds of said City, on a basis of par for par, to permit said City to retire said bonds at an earlier date,- which is hereby determined to be for the financial benefit and advantage of Said City and its taxpayers; and WHEREAS, this City Council is authorized to issue its refunding bonds for said purpose: NOW, THERFORE, Be It Ordained by the City Council of the City of McHenry, McHenry County, Illinois, as follows: Section 1. That all recitals of fact contained in the preambles hereto are hereby determined and declared .to be true and complete. Section 2. That there be borrowed by and for and on behalf of said City and principal sum of $160,000, for the purpose of refunding a like principal amount of Sewer Improvement Bonds of said City as hereinabove recited in the preambles of this ordinance. That to evidence said loan negotiable interest coupon bonds of said City be issued in the principal amount of $160,000. Said bonds shall be designated "Sewer Improvement Refunding Bonds" and shall be dated June 1, 1956, be numbered from 1 through 160, of $1,000 denomination, and shall mature serially on January 1 in each of the years and in amounts as follows: $10,000 - 1958 through 1961 $15,000 - 1962 through 1969 Said bonds shall bear interest at the rate of Two and Threefourths Per Cent (2%%) per annum. which such interest shall be payable July 1, 1957 and semi-annually thereafter on the first day of January and July in each year until paid, which interest payments to date of maturity of principal shall be evidence by proper interest coupons attached to each bond and maturing on the dates herein provided, and both principal of and interest on said bonds shall be payable in lawful money of the United States of America at the American National Bank and Trust Company^ of Chicago, Chicago, Illinois. The seal of said City shall be affixed to eacn of said bonds, and said bonds shall be signed by the Ma.vor and attested by the City Clerk of said City, and Said coupons shall be signed and attested by said officials, respectively, by their facsimile signatures, and said officials by the execution of said bonds shall adopt as and for their own respective proper signatures their respective facsimile signatures appearing on said coupons. Section 3. That the bonds hereby authorized shall be subject to registration as to principal in the name of the' holder upon the books of the City Treasurer, such registration to be evidenced by notation of said' City Treasurer upon the back of such bonds so registered. No bond so registered shall be subject to transfer except u^on such books and similarly noted on the back of the bond so registered, unless the last registration shall have been to bearer. Such registration of any of said bonds shall not, however, affect the negotiability of the coupons attached to said bond,s, but suck coupons sh&ll continue transferable by delivery merely. Section 4. That each of ° said bonds and each of the interest coupons to be thereto attached shall be in substantially the following form: (Form of Bond) UNITED STATES OF AMERICA STATE OF ILLINOIS COUNTY OF McHENRY CITY OF McHENRY SEWER IMPROVEMENT REFUNpiNG BOND Number $1,000 • KNOW ALL MEN BY THESE PRESENTS that the City of McHenry, McHenry County, Illinois, hereby acknowledges itself to owe, and for value received hereby promises to pay, to bearer, or if registered to the registered owner hereof, the sum of One Thousand Dollars ($1,000) in lawful money of the United States of America on the first day of January, 19 , together with interest on said sum from the date hereof Until paid, at the rate of Two and Threefourths Per Cent (2 %r/r) per annum, payable July 1, 1957. and semi-annually thereafter on the first day of January and July in each year, which such interest until the maturity of this bond is payable upon presentation and surrender of the interest coupons hereto attached as they severally become due and payable. Both principal hereof and interest hereon are payable at the American National Bank and Trust Company of Chicago, Chicago, Illinois. For the prompt payment of this bond, both principal and interest, as aforesaid, at maturity, the full faith, credit and resources of said City are hereby irrevocably pledged. This bond is issued by said City for the purpose of refunding a' like principal amount of its Sewer Improvement Bonds now outstanding and unpaid, pursuant to and in all respects in compliance with the Revised Cities and Villages Act, and all laws amendatory thereof and supplementary thereto, and pursuant to an ordinance duly adopted by the City Council of •said City and published, in all respects as by law required. And it is hereby certified and recited that all acts, conditions and things required by the Constitution and laws of the State of Illinois to exist, or to be done, precedent to and in the issuance of this bond, and of the bond refunded hereby, have existed and have been properly done, happened and been performed in regular ahd due form an<^ time as required by law; thatythe indebtedness of said City, inducting this bond, does not exceed any constitutional 6r statutory limitation; and that provision has been made for the collection of a direct annual tax, in addition to all other taxes, on all the taxable property in said City to pay the interest hereon as the same falls due, and also to pay and discharge the principal hereof at maturity. This bond is subject \to registration as to principar in the name of the holder upon the books of the Treasurer of said City, such registration being noted hereon by said Treasurer, after which no transfer hereof, except upon such books and similarly noted hereon, shall be valid unless the last registration shall have been to bearer. Registration of this bond shall not j affect the negotiability of the interest coupons hereto attached, I which coupons shall Continue ne- j gOtiable by delivery merely, notwithstanding registration hereof, j IN WITNESS WHEREOF, j the said City of McHenry, Mc-j Henry County, Illinois, by its I City Council, has caused the! corporate seal of said City to be hereto affixed, and this bohd "to be signed by the Mayor and j attested by its City Clerk, and j the coupons hereto attached to be signed and attested by said j officers, respectively, by their f facsimile signatures, and said i officers do by the execution ( (hereof adopt as and for their i respective signatures their fac- j simile signatures appearing on I said coupons, all as of the first ' day of June, 1956. . j that day on its Sewer Improvement Refunding Bond, dated June 1, 1956, numbered (facsimile signature) Mayor Attest: (facsimile signature) City Clerk (Form of Registration) Name of Signature Registered of City Date Owner Treasurer Section 5. That for the purpose of providing for funds required to pay the interest on said bonds promptly when and as the same falls due and to pay and discharge the principal thereof at maturity, there be and there is hereby levied upon all the taxable property within said City in each year while any of said bonds are outstanding, a direct annua] tax sufficient for that purpose, without limitation as to rate or amount, and that there be and there is hereby levied upon all of the taxable property in said City, in addition to all other taxes, the following direct annual tax in each of the years and in amounts as follows: Year Amount* for of Levy Principal & Interest 1956 $16,967.00 1957 14,125.00 1958 13,850.00 Pigi Flvn 1959 1960 1961 1962 13,575.00 18,300.00 17,886.50 17,475.00 1963 17,062.50 1964 16)650.00 1965 16,237.50 1966 15,825.00 1967 15,412.50 That principal of or interest on said bonds falling due at any time when there are insufficient funds on hand to pay the same from the proceeds of the bond and interest taxes hereinabove levied be paid promptly when due from current funds on hand in advancement of the collection of said taxes, and. when said taxes shall have been so collected, reimbursement shall be n^ade to the said funds in the amount thus advanced. ^ That forthwith upon the approval of this ordinance a copy hereof, certified by the City Clerk of said City, which certificate shall recite that this ordinance has been passed by the City Council of said City, and published, shall be filed with the County Clerk of McHenry County, and said County Clerk shall in and for each of the years 1956 through 1967 ascertain the rate per cent required to produce the aggregate bond and interest tax hereinbefore levied in each of said years, respectively, against the taxable property within said City, and extend the same for collection on the tax books, without limitation as "to rate or amount, in connection with other taxes levied in each of said years, respectively, in and by said City, and in each of said years such annual bond and interest tax shall be collected by said City in like manner as taxes for general 'Corporate purposes for each of said years are collected, and when collected such bond and interest taxes shall be used solely for the purpose of paying the principal of and the interest upon the bonds hereinbefore described when same mature. When the refunding bonds herein authorized shall have been delived and the bonds to be refunded thereby simultaneously cancelled, there shall be filed with the County Clerk of McHenry County a certificate of the Mayor and City Clerk in evidence thereof and it shall thereupon be the duty of Said County Clerk to abate the taxes heretofore levied for the. payment of said bonds so cancelled. [ Section 6. That said refunding I bonds shall be delivered to j Ballman & Main, of Chicago, Illinois, in exchange for and upon the simultaneous surrender and cancellation of the $160,000 Sewer Improvement Bonds of this City; *on a basis of par for par, as described in the preambles hereto, go that at m ihoment of time will the indebtedness-' of said City be Increased in any manner whatsoever by the issue of said refunding bona 1 Section 7. That all ordinances, resolutions and orders, or parts thereof, in conflict with the pro* visions of this ordinance be ami the same are hereby repealed. Passed June 4, 1956. Ayes: Antonson, Brown, Dixon, Gausden, Kausd. . Nays: None. " a Approved: June 4, 1956. GEO. P. FREUND. Mayor Attest: EARL R. WALSH, City Clerk Published June 7th, 1956, in The McHenry Plaindealer, ' Mc- ; Henry, Illinois. Recorded: June 4th, 1956. EARL R. WALSH, City Clerk Insured Savings: Savings Invested in Crystal Lake Savings and I>aaa Association are lasmed hy the Federal Savings asa<fi IXMUB Insurance Corp., and earn 2 y% p©r cettt plus yt per cent estit. 88-tf Lend Uncle sam Tour Dollars Buy U.S. Savings Bonds A t t e s t : Mayor City Clerk (Form of Coupon) Number $ On the first day of , 19 , the City of McHenry, McHenry County, Illinois, will pay to bearer Dollars ($ ) in lawful money of the United States of America at the American National Bank and Trust Company of Chicago, Chicago, Illinois, for interest due A. S. BLAKE MOTORS McHENRY, ILL. Tower Grill H®@D EATIMf? On Route 120 in Lakemoor Between Volo and McHenry TAKE ADVANTAGE OF OUR CARRY OUT SERVICE FOR THE UNEXPECTED GUESTS. EVENING SNACKS, OR A READY TO EAT DINNER. Open Sun., Tues.. Wed. & Thurs. 'til 1:00 A.M. Fri. & Sat. 'til 3:00 A.M. - Closed all dav Monday JUST PHONE McHENRY 161 CARRY OUT PRICES French Fried Chicken (one half) .... . $1.45 Chicken Special "Leg An' Thi" large 95 Bar-B-Q Ribs $1.45 French Fried Jumbo Shrimp $1.45 French Fried Shrimps, Special 95 Packaged Piping Hot with Golden Brown French Fries Cole Slaw, Bread and Butter. Hamburgers, Pure Beef .25 or Six for $1.25 FULL FOUNTAIN Counter Service and Dining Room AIR CONDITIONED DON'T FORGET... Our 50th ANNIVERSARY CELEBRATION SALE is still going on. (June I through June 10) Be sure to stop in and get your free souvenir. Also, try your luck in our big "Treasure Chest Contest". VYCITAL'S Hardware 1S2 S. Green St. Phone 98 Sheei Metal Shop McHenry, HL % $ SUMMER BOWLERS • - Something NEW in Mixed Leagues 2 NITES - Wednesdays & Fridays - Starting - Wednesday, June 13 - 8 p.m. - A L S O 'TEEN-AGE Starts Tuesday, Ju Large Trophies To The Winners. Friday, Jane 15 - 8 p.m. LEAGUE 1 2th - 7 p. m. AIR - CONDITIONED McHENRY RECREATION ONE BLOCK M0RTH OF HIWAY 120 AT EAST END OF OLD BRIDGE TELEPHONE McHENRY 9850 Call for "Joe" between 6:00 p.m. and 8:00 p.m. Daily to be sure you get in.