The times. (Owosso, Mich.) 1882-1897, 1888-06-15
WHOLE NO. 4S8

s. A. Crane, @ 90
l.. p Gilbert, 3 rs
John 7. Martin, nightwatch. 900
VIM. Barresford, !" % 90
George Clark, cleaning JAIL 90
T. j. Horsman, Board of Review, 2 90
G. A. Baldwin, Z" 90
M. q. Whited, sprinkling Main st. 12 90
Ed Martin, city teamster, 8 90
George Beake. 9 90
John T. WClverton, A 45
S. Davis, labor, u 25
Aid. Robbins presented u receipt from
Nj. l.. Stewart & Co. to s. A. Crane,
Street Commissioner, for $31.8 .84, which
was accepted and ordered placed on file.
The Street Commissioner made regular
weekly report which was accepted and
ordered placed on file.
The Committee on Finance reported
favorablY on the above accounts as pre-.
sented, the report was accepted, unani.
nous consent was given and the accounts
allowed, ayes 8, nays o.
Aid. Fitzpatrick presented the following
resolution, then moved the suspension of
rule 20, which was carried by the follow
ing vote: Ayes, Frieseke, Holmes, Keyte,
Fitzpatrick. Wells and Wolyerton-6.
Nays, Gould and Robbins-2.
Aid. Frieseke moved the adoption of
the resolution, which motion prevailed by
the following vote: Ayes, Aid. Frleseke,
Holmes, Keyte, Fitzpatrick, Wells and
Wolverton-6. Nays. Aid. Gould and
Robbius-2
WHEREAS The following resolutions
were on the 18th day of October, 1886,
duly passed by the Common Council of
the city of Owosso, viz:
ReSoived, By the Common Council of the city of
Owosso that there be borrowed on the faith and
credit of said city such sum sans of money as
may be sufficient and necessary, not exceeding in
all the of Forty Thousand Dollars, to purchase
and be expended in the purchase of and payment
for machinery, apparatus and contrivances adapt
ed to the extinguishment of fires in said city, and
to be expended in the purchase and construction of
and payment for works, engines, machinery and
apparatus for supplying said city with water for
the extingnishment of fires. and for other purposes
and that the bonds of said city be issued in the
sum and TO the amount Of such loan made payable
to the person or persons from whom such money
Is received or their order, to become due and paya
BILE In not less than ten or more than twenty-five
years, at the option and call of said Council from
and after the date OF the issuing of such bonds with
interest thereon, at not to exceed the rate OF five
per cent per annum, payable annually; and
further
Resolved, That such bonds be issued only at such
times in sums made payable, negotiated, and the
money thereby received disposed OF and expended
as and In the manner TO be hereafter directed and
determined by said Common Council in Accord
ance with and subject to the directions and limita-
tons hereinbefore expressed, and further
ResoiOed, That all sums OF msney, so as afore-
said loaned and borrowed also all sums of income
or revenue derived from or received by said city
nIIhi IL in,p ante
any part or portion thereof, when so as aforesaid
purchased built and constructed, shall be kept and
ana continued In Fund" separate and distinct
from the other funds of said city, to be known and
designated as the water Works. Fund" and such
money or any part thereof shall not be used, ap-
piled, laid out or expended for any purpose other
than as hereinbefore mentioned, and the contin-
uance and maintenance of the same and the pay
ment of said debt and the interest thereof when
further
Resoived, That the question of borrowing money
and the issuing OF bonds therefor as In the manner
and for the purposes aforesaid be and the same is
hereby submitted to the voters of said city to be
by them voted upon at the general election to be
held upon Tuesday, the second day of November,
A. d. 1886, and that the inspectors of elections of
| the several wards of said city prepare suitable
boxes for the reception Of ballots for against
said Loan" and the borrowing of money and
for the purposes aforesaid and have the pres
ent at the respective voting places in said city on
said day, and each person voting for such loan and
| borrowing money as and for the purposes afore-
ten or printed on his ballot the Words Loan of not
| to exceed forty thousand dollars for waterworks;"
| YES, and each person voting against said loan
ana borrowing money as and for the purposes
aforesaid, shall have written printed or partly
| written or printed on his ballot the words oLoan
OF not TO exceed forty thousand dollars for water
| works." "No." Such ballot shall in all respects
be canvassed and returns thereof made at the time
| and In the manner, and the result thereof deter
mined as of the election Of city officers of said city
and notice of these resolutions and of the submis-
sion oil the questions as aforesaid to the voters of
said city shall be given by posting written print
ed copies OF these resolutions in at least three Of
least six days previous to said election, also by
publication of these resolutions in weekly news.
paper published In said city at least once before
| the day of such election.
WHEREAS, The legal voters of said city
did, on the said Cd day OF November,
A. d. 1886, at an election held on said day
in pursuance of said resolution determine
the question in favor of issuing said bonds
| for the purposes and in the manner named
In said resolutions. Now therefore be it
RseoLced, By the Common Council of the
| city OF Owosso, That the bonds of the city
| of Owosso TO the amount of forty thousand
| dollars, in denominations of five thousand
| dollars each and numbering consecutively
| from / to 3, be issued by the Mayor and
Clerk of said city to be countersigned by
| the auditor thereof, for the purposes and
in accordance with said resolution above
| set forth.
Resolced, Further that said bonds be
made payable twenty five years from the
date thereof, with interest payable annual
ly at the rate OF per cent per annum.
| Procided, Said bonds shall be due ani
payable after ten years from the date of
the same at the option of said city, by
| giving written notice to the Cashier OF the
Bank where said bonds are made payable
designating the number OF the bond to be
paid one year prior 10 the time Of intended
payment and the deposit of the amount of
any such bond with the interest thereon
with the bank where made payable after
one year from the time of giving said
notice shall be deemed legal tender of
the payment thereof and and no further
interest shall accrue or he payable thereon.
ResoiUed, Further that the Mayor he and
/ "a .y.xr. IL 40 coll oas1 In