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Culbertson council records retirement of water bonds and schedules debt payments
Summary
Minutes show the council burned the original $39,500 Water Works bonds in March 1929, authorized payment of interest on refunding bonds, and later instructed the treasurer to pay a matured $1,000 water bond with interest in November 1929.
The Culbertson Town Council’s 1929 minutes record multiple formal actions concerning the town’s water works debt. At the March 4, 1929 meeting the City Treasurer produced the original issue of Water Works bonds totaling $39,500; the minutes state those original bonds “were burned in the presence of the Council and Mayor.” The same meeting authorized the town treasurer to draw a check for $92.16 to pay interest due to Heath, Schlessman & Co. on refunding bonds.
Later in the year, at the November 4, 1929 meeting, the council instructed the treasurer to pay matured $1,000 water bonds and the aggregate interest due of $1,036.48. The minutes record that direction following a motion and vote. These entries appear alongside routine monthly approvals of bills and do not include detailed redemption schedules or bondholder lists in the transcripted minutes.
Taken together, the recorded actions show the council taking administrative steps to execute refunding arrangements (destruction of original bonds where appropriate) and to fund the retirement of matured obligations. The minutes do not include bond indentures or certified payoff statements; municipal staff would maintain those documents outside the transcripted meeting text.
