Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1903-02-12
Ordinance Number 70

An Ordinance in relation to the issue of Bridge
Bonds of the city of Grand Rapids, Wisconsin,
to the amount of sixteen thousand dollars, and
providing TOR the payment thereof
The Common Council of the City of Grand
Rapids, Wisconsin, do ordain as follows:-
SECTION That the Bridge Bonds of the city
of Grand Rapids to the amount of sixteen
thousand dollars heretofore duly authorized by
the electors of the said city at an election
legally called and held therein on April.1, 1902
shall be issued in denominations of one thou
SAND dollars each under date of January 1, 1905
and the interest shall be evidenced by semi
annual interest coupons of S175O each payable
on the first day of July and of January, except
the last coupon due January 81 at the maturity
of each bond shall be for $3.50, Both principal
ana interest OF the said bonds shall be made
payable at the office ofthe Royal Trust Company,
Chicago, Ill.
SECTION 2. The said bonds and interest
coupons shall be substantially of the following
form, subject to the necessary variations to
numbers, maturities, etc.
No. l Bond No " 100000
United States of America
State of Wisconsin, County OF Wood.
City of Grand Rapids Bridge Bond.
Know all men by these presents, that the city
of Grand Rapids, Wisconsin, is justly indebted,
and for value received hereby promises to pay
to the bearer on the thirty first day of January
1918 the principal sum Of one thousand dollars,
with interest thereon at the rate of three and
one half per cent per annum, payable semi
January, as evidenced by and on the presenta-
ton and surrendera of the annexed interest
/
Both principal and interest hereof are payable
at the office of the Royal Trust Company,
Chicago, Ill.
This bond is one of series of sixteen bonds
of the same Gate and amount, aggregating
$4,000, issued for the purpose of building new
steel bridge across the Wisconsin river in said
city. 1t is hereby recited and certified that the
issue hereof has been authorized by the electors
of said city voting at an election legally called
and held therein, that legal provision has been
made tor the levy and collection of an annual
fip1
and principal hereof as the same becomes due,
that all acts, conditions and things required or
| proper to be done precedent to or i'll the
! issuance of this bond have been legally had,
| done, and performed, and that that amount OF
this bond, together with all the other indebted
ness of the said city does not exceed any
statutory, constitutional or other legal limita-
| ton thereon. For the payment of the principal
and interest here of the full faith credit and
resources of the said city are irrevocably
| pledged.
| In witness whereof of the said city of Grand
Rapids, has caused this bond to be signed by its
mayor and clerk under its corporate seal, and
signed with the Autographed signature of the
! said clerk, as of the date of the first day OF
January, A. ID. 1908.
! (SeaD NEUTRALITY-SUSPICIOUS.. Mayor
No. l Coupon No. y ST.. sc
On July l, 1908, the city of Grand Rapids
Wisconsin, will pay to the bearer ut the office OF
! the Royal Trust Company, Chicago, III. seven
teen dollars and fifty cents ior the interest on its
bridge bond dated January l 1903 and num-
! bered- .................... Clerk
| All other OF said bonds are payable on January
! 81 as follows: No. in 1914, No in 1915, No.
| in 1916, No 5 in 1917. No. in 1918. No. in 1919
! No. S in 1920, No. in 1921 and numbers 10 to IL
| Inclusive in 1922.
! SECTION s. There is hereby authorized and
directed to be levied on ali of the taxable
property OF the said city tor the year 1908 and
each and every year thereafter while the said
| bonds or any portion thereof are out standing
and unpaid, sufficient annual tax 10 provide
| for and meet the payment of the interest and
principal of the said bonds as and when the
same becomes due and payable, and it is hereby
made the duty of the proper officers each year
| TO see 20 the levy and collection of the said
taxes sufficient in amount for such purpose and
/ TO the application of the said taxes 10 the pay
ment of the interest and principal of the said
bonds.
SECTION 4. This ordinance shall be considered
| as supplemental to Ordinance No. 50 heretofore
passed by the common council, and shall take
! effect and be in full force from and after its
passage and publication.
| Approved February 5, 1908.
Attest: VI. G. GORDON, w. Z. WHEELAN,
CLERK Mayor