1979 Dana City Miscellaneous Documents (Water Revenue Bond, Series 1979, Specimen)
Dublin Core
Title
1979 Dana City Miscellaneous Documents (Water Revenue Bond, Series 1979, Specimen)
Subject
water revenue bond; Series 1979; R-1; specimen; bond; water system; Municipal Utility; Farmers Home Administration; FmHA; 5 percent; $60,500; $3,588; sinking fund; water rates; Chapter 384; News Banknote Co.; City Treasurer
Description
Specimen of the City of Dana's $60,500 Water Revenue Bond, Series 1979, number R-1, at 5% interest. Interest only was due July 1, 1980 and 1981, then installments of $3,588 every July 1 from 1982 until a final payment by July 1, 2019, with the bond callable from July 1, 1992. It is payable only from net water utility revenues, and the city covenants to keep rates sufficient for operations and a sinking fund. The registration panel names the United States of America, Farmers Home Administration. Stamped SPECIMEN and neither dated nor signed; filed by its series year. Two sides.
Creator
City of Dana, Iowa
Source
City of Dana, Iowa
Publisher
City of Dana, Iowa
Date
1979
Contributor
City of Dana, Iowa
Format
Printed specimen bond on a single legal-size sheet, both sides
Language
American English
Type
Public government records
Coverage
Dana, Greene County, Iowa
Text Item Type Metadata
Text
[Specimen bond on a single legal-size sheet, printed on both sides. "SPECIMEN" is stamped in red on the signature lines. The bond is never dated or signed.]
[page 1: face of the bond, inside an engraved border with an eagle]
R-1
$60,500 $60,500
UNITED STATES OF AMERICA
STATE OF IOWA
COUNTY OF GREENE
City of Dana
WATER REVENUE BOND
SERIES 1979
KNOW ALL MEN BY THESE PRESENTS: That the City of Dana in the County of Greene, State of Iowa, for value received, hereby promises to pay to the registered holder hereof, his legal representatives or registered assigns, upon presentation hereof at the office of the Treasurer of said City, out of the net revenues hereinafter described, the principal amount of
SIXTY THOUSAND FIVE HUNDRED DOLLARS
($60,500.00)
together with interest on said amount from the date hereof, until paid at the rate of
Five Per Cent (5%)
per annum, payable as follows:
Interest only shall be payable on July 1, 1980 and July 1, 1981, and thereafter principal of and interest on the bond shall become due in installments of $3,588 on July 1, 1982, and annually thereafter on July 1 until the principal and interest are fully paid, except that the final installments of the entire balance of principal and interest, if not sooner paid, shall become due and payable on July 1, 2019.
All principal due after July 1, 1992, will be subject to call prior to maturity in whole or from time to time in part, in inverse order on July 1, 1992, and on any interest payment date thereafter at the option of the Issuer, upon terms of par plus accrued interest to date of call.
Every payment made on any indebtedness evidenced by this Bond shall be first applied to accrued interest and then to principal.
Such principal and interest being payable by check or draft mailed to the registered holder at his address appearing on the registration book of the City, or if not so paid by check or draft, at the office of the Treasurer. Payment of principal and interest on this bond are payable at the office of the Treasurer in any coin or currency which, on the date of payment of said principal and interest, is legal tender for the payment of public and private debts.
Final payment shall be payable upon presentation and surrender of this bond at the office of the City Treasurer.
This bond is issued by the City pursuant to and in strict compliance with Chapter 384, City Code of Iowa, and in compliance with all other applicable provisions of the Constitution and laws of the State of Iowa, and in conformity with a Resolution of the Council of said City duly passed and approved, entitled "A RESOLUTION AUTHORIZING AND PROVIDING FOR THE ISSUANCE OF A $60,500 WATER REVENUE BOND, SERIES 1979, OF THE CITY OF DANA, IOWA, UNDER THE PROVISIONS OF THE CITY CODE OF IOWA, AND PROVIDING FOR A METHOD OF PAYMENT OF SAID BOND."
For a more complete statement of the basis upon which this revenue bond has been issued and additional revenue bonds ranking on a parity therewith may be issued, a description of the source of payment of all such bonds and a statement of the rights and duties of the City, the rights of the holders of revenue bonds and the modification thereof, reference is made to said Resolution. This bond is issued for the purpose of extensions to the Municipal Utility of said City and/or providing funds to refund presently outstanding revenue obligations, together with accrued interest computed to date hereof, heretofore issued to defray costs of the project.
Installments of principal and interest may be called for payment prior to maturity in whole, or in part in inverse order, on July 1, 1992, and on any payment date thereafter at the option of the City at the price of par plus accrued interest to the date of payment. All installments are subject to payment prior to maturity in whole, or from time to time in part in inverse order on any date, on terms of par and accrued interest to the date of payment, only from the unused proceeds of the issue of this bond remaining in the Construction Account created by the Bond Resolution after the construction of the project has been finally completed, accepted and paid for and/or from the proceeds of government grants received in respect of the project, as provided in said Resolution. Notice of prepayment of this bond or any installment of principal and interest shall be given by registered mail deposited in the United States mail not less than thirty days prior to prepayment date, postage prepaid, to the registered owner of this bond, at the address of such owner as shown on the Treasurer's registration book.
This bond is transferable, as provided in the aforesaid Resolution only upon the registration books of the City kept for that purpose by the Treasurer, upon presentation of this bond to such Treasurer together with a written instrument of transfer satisfactory to such Treasurer duly executed by the registered holder or his duly authorized attorney, whereupon such transfer shall be similarly endorsed hereon.
Said City and the City Officers may treat the person in whose name this bond is registered as the absolute owner hereof for the purpose of receiving payment thereof and for all other purposes and shall not be affected by any notice to the contrary whether principal on this bond be overdue or not.
This bond, together with any additional bonds which may be hereafter issued and outstanding from time to time, on a parity, as provided in the Bond Resolution of which notice is hereby given and is hereby made a part hereof, are payable from and secured by a pledge of the net revenues of said Utility, said net revenues being defined by said Resolution as the gross earnings of said Utility after deduction of current expenses as defined in said Resolution. There has heretofore been established by ordinance of the City and the City hereby covenants and agrees that it will maintain just and equitable rates or charges for the use of and service rendered by said Utility in each year for the payment of the proper and reasonable expenses of operation and maintenance of said Utility and for the establishment of a sufficient sinking fund to meet the principal of and interest on this bond, as the same become due. This bond is not payable in any manner by taxation and under no circumstances shall the City be in any manner liable by reason of the failure of said net earnings to be sufficient for the payment hereof.
IN TESTIMONY WHEREOF, said City by its Council has caused this bond to be signed by its Mayor and attested by its Clerk, with the City seal affixed, all this [the printed sentence stops here; no date follows]
ATTEST: SPECIMEN, Clerk
SPECIMEN, Mayor
(c) NEWS BANKNOTE CO., BAYARD, IA.
[page 2: reverse of the sheet, printed in three panels. "SPECIMEN" is stamped in red across the panels.]
[Center panel, inside an engraved border]
R-1
UNITED STATES OF AMERICA
STATE OF IOWA
County of Greene
CITY OF DANA
WATER REVENUE BOND
Series 1979
$60,500
5%
DUE
July 1, 1982 to 2019
inclusive
Optional July 1, 1992
INTEREST PAYABLE
Annually July 1
PRINCIPAL AND INTEREST PAYABLE
to
THE REGISTERED HOLDER
or
at the office of
THE CITY TREASURER
Dana, Iowa
(c) NEWS BANKNOTE CO., BAYARD, IA.
[Left panel, turned sideways on the sheet]
REGISTRATION OF OWNERSHIP
DATE OF REGISTRATION | IN WHOSE NAME REGISTERED: UNITED STATES OF AMERICA, FARMERS HOME ADMINISTRATION | SIGNATURE OF CITY TREASURER
[the rows are blank apart from the SPECIMEN stamps]
[Right panel, turned sideways on the sheet]
CITY TREASURER'S CERTIFICATE
This bond has been duly and properly registered in my office as of
SPECIMEN
City Treasurer of Dana, Iowa
[page 1: face of the bond, inside an engraved border with an eagle]
R-1
$60,500 $60,500
UNITED STATES OF AMERICA
STATE OF IOWA
COUNTY OF GREENE
City of Dana
WATER REVENUE BOND
SERIES 1979
KNOW ALL MEN BY THESE PRESENTS: That the City of Dana in the County of Greene, State of Iowa, for value received, hereby promises to pay to the registered holder hereof, his legal representatives or registered assigns, upon presentation hereof at the office of the Treasurer of said City, out of the net revenues hereinafter described, the principal amount of
SIXTY THOUSAND FIVE HUNDRED DOLLARS
($60,500.00)
together with interest on said amount from the date hereof, until paid at the rate of
Five Per Cent (5%)
per annum, payable as follows:
Interest only shall be payable on July 1, 1980 and July 1, 1981, and thereafter principal of and interest on the bond shall become due in installments of $3,588 on July 1, 1982, and annually thereafter on July 1 until the principal and interest are fully paid, except that the final installments of the entire balance of principal and interest, if not sooner paid, shall become due and payable on July 1, 2019.
All principal due after July 1, 1992, will be subject to call prior to maturity in whole or from time to time in part, in inverse order on July 1, 1992, and on any interest payment date thereafter at the option of the Issuer, upon terms of par plus accrued interest to date of call.
Every payment made on any indebtedness evidenced by this Bond shall be first applied to accrued interest and then to principal.
Such principal and interest being payable by check or draft mailed to the registered holder at his address appearing on the registration book of the City, or if not so paid by check or draft, at the office of the Treasurer. Payment of principal and interest on this bond are payable at the office of the Treasurer in any coin or currency which, on the date of payment of said principal and interest, is legal tender for the payment of public and private debts.
Final payment shall be payable upon presentation and surrender of this bond at the office of the City Treasurer.
This bond is issued by the City pursuant to and in strict compliance with Chapter 384, City Code of Iowa, and in compliance with all other applicable provisions of the Constitution and laws of the State of Iowa, and in conformity with a Resolution of the Council of said City duly passed and approved, entitled "A RESOLUTION AUTHORIZING AND PROVIDING FOR THE ISSUANCE OF A $60,500 WATER REVENUE BOND, SERIES 1979, OF THE CITY OF DANA, IOWA, UNDER THE PROVISIONS OF THE CITY CODE OF IOWA, AND PROVIDING FOR A METHOD OF PAYMENT OF SAID BOND."
For a more complete statement of the basis upon which this revenue bond has been issued and additional revenue bonds ranking on a parity therewith may be issued, a description of the source of payment of all such bonds and a statement of the rights and duties of the City, the rights of the holders of revenue bonds and the modification thereof, reference is made to said Resolution. This bond is issued for the purpose of extensions to the Municipal Utility of said City and/or providing funds to refund presently outstanding revenue obligations, together with accrued interest computed to date hereof, heretofore issued to defray costs of the project.
Installments of principal and interest may be called for payment prior to maturity in whole, or in part in inverse order, on July 1, 1992, and on any payment date thereafter at the option of the City at the price of par plus accrued interest to the date of payment. All installments are subject to payment prior to maturity in whole, or from time to time in part in inverse order on any date, on terms of par and accrued interest to the date of payment, only from the unused proceeds of the issue of this bond remaining in the Construction Account created by the Bond Resolution after the construction of the project has been finally completed, accepted and paid for and/or from the proceeds of government grants received in respect of the project, as provided in said Resolution. Notice of prepayment of this bond or any installment of principal and interest shall be given by registered mail deposited in the United States mail not less than thirty days prior to prepayment date, postage prepaid, to the registered owner of this bond, at the address of such owner as shown on the Treasurer's registration book.
This bond is transferable, as provided in the aforesaid Resolution only upon the registration books of the City kept for that purpose by the Treasurer, upon presentation of this bond to such Treasurer together with a written instrument of transfer satisfactory to such Treasurer duly executed by the registered holder or his duly authorized attorney, whereupon such transfer shall be similarly endorsed hereon.
Said City and the City Officers may treat the person in whose name this bond is registered as the absolute owner hereof for the purpose of receiving payment thereof and for all other purposes and shall not be affected by any notice to the contrary whether principal on this bond be overdue or not.
This bond, together with any additional bonds which may be hereafter issued and outstanding from time to time, on a parity, as provided in the Bond Resolution of which notice is hereby given and is hereby made a part hereof, are payable from and secured by a pledge of the net revenues of said Utility, said net revenues being defined by said Resolution as the gross earnings of said Utility after deduction of current expenses as defined in said Resolution. There has heretofore been established by ordinance of the City and the City hereby covenants and agrees that it will maintain just and equitable rates or charges for the use of and service rendered by said Utility in each year for the payment of the proper and reasonable expenses of operation and maintenance of said Utility and for the establishment of a sufficient sinking fund to meet the principal of and interest on this bond, as the same become due. This bond is not payable in any manner by taxation and under no circumstances shall the City be in any manner liable by reason of the failure of said net earnings to be sufficient for the payment hereof.
IN TESTIMONY WHEREOF, said City by its Council has caused this bond to be signed by its Mayor and attested by its Clerk, with the City seal affixed, all this [the printed sentence stops here; no date follows]
ATTEST: SPECIMEN, Clerk
SPECIMEN, Mayor
(c) NEWS BANKNOTE CO., BAYARD, IA.
[page 2: reverse of the sheet, printed in three panels. "SPECIMEN" is stamped in red across the panels.]
[Center panel, inside an engraved border]
R-1
UNITED STATES OF AMERICA
STATE OF IOWA
County of Greene
CITY OF DANA
WATER REVENUE BOND
Series 1979
$60,500
5%
DUE
July 1, 1982 to 2019
inclusive
Optional July 1, 1992
INTEREST PAYABLE
Annually July 1
PRINCIPAL AND INTEREST PAYABLE
to
THE REGISTERED HOLDER
or
at the office of
THE CITY TREASURER
Dana, Iowa
(c) NEWS BANKNOTE CO., BAYARD, IA.
[Left panel, turned sideways on the sheet]
REGISTRATION OF OWNERSHIP
DATE OF REGISTRATION | IN WHOSE NAME REGISTERED: UNITED STATES OF AMERICA, FARMERS HOME ADMINISTRATION | SIGNATURE OF CITY TREASURER
[the rows are blank apart from the SPECIMEN stamps]
[Right panel, turned sideways on the sheet]
CITY TREASURER'S CERTIFICATE
This bond has been duly and properly registered in my office as of
SPECIMEN
City Treasurer of Dana, Iowa
Files
Collection
Citation
City of Dana, Iowa, “1979 Dana City Miscellaneous Documents (Water Revenue Bond, Series 1979, Specimen),” Dana, Iowa - Historical Records, accessed November 7, 2026, https://records.danaia.gov/items/show/398.