The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1875-04-30
FRIDAY, APRIL 30, 1875.
CAN THE VILLAGE BORROW
MONEY.


If, as seems to be generally conceded,
the village has lost, for ayear at least, its
power to elect officers, by the failure to
choose between two and five o'clock We'd
nesday afternoon, the question of The le-
galty of the adjournment TO seven O'Clock
in the evening, and from that time until the
second Wednesday of May, is important
only in one respect-and then only as 1t
may be determined whether business neces-
sary to be transacted at the annual meeting
can be transacted at an adjourned meeting.
In other words, whether, by repeated adj
tournaments, the annual meeting can be con-
tinued during the year, so as TO render le-
gal any business transacted which is not
required to be done between certain hours
on given day. 1t is unquestionable that
taxes can be voted, and ether ordinary bus
mess transacted at special meeting, so
that nothing, 10 this respect, is lost by the
alleged illegally OF the annual meeting. A
delay of ten days, at the most, will enable
the village to legally raise all necessary
taxes and to transact ordinary and neces-
sarv business. But, without any fault of
the present board of trustees, the finances
of the village are in II deplorable condition.
The village now owes, or will in July, So
121.67 in village orders, and interest there
on; $4,000 in reservoir bonds So, 120.04
for interest thereon $1,000 at the savings
bank; amounting in all to the sum Of $2I,-
33l.71. Provision ought to be made for
the immediate payment of all this, save
perhaps the amount due to the savings
bank.
For The payment OF this sum of $24,-
24l.7l, we are liable 10 he called upon at
any time. For its payment, the faith of
HE village is pledged, and the property of
every poison residing in the village is liable
10 be taked on execution and sold for the
satisfaction of the whole or part thereof.
Our current expenses must, also, be pro-
vided for. 1t is id e to expect that the vii
lage will vote tax sufficient to pay the
whole amount. 1t ought not to Re asked or
expected SO To do. The credit of the vii
lage is good its bonds could I've easily ne
gotiated, but has t now the power TO Der-
row money or issue bonds That depends
upon the decision of the question whether
the adjourned village meeting is, in the
meaning of the law, the annual meeting
The whole power to borrow money is de-
rived from an act of the legislature, ap-
proved November 20, 1874, providing as
follows: "The village of Rutland may at
Tits next annual meeting, or at any special
meeting called for that purpose between
''now and then, by vote, authorize the
"board of trustees of said village to borrow
'money, not exceeding twenty-five thous-
''and dollars in amount, for the purpose OF
'paying the matured notes or ponds of said
''village, or such as shall hereafter mature
ISSUED on the first day Of July, A. d.
"IS6S, = and also any other matured
Indebtedness of said village" 1t is con-
coded that the village cannot borrow
money except under authority expressly
granted by the legislature, and the power,
SO granted, expires with the close of the
annual meeting this year Has our annual
meeting lapsed Was the adjournment il
legal or, if not, can the annual meeting be
extended, by adjournments, indefinitely
The village are more interested in these
questions than they are in the matter OF
the personel of officers.