Belding banner. (Belding, Mich.) 1889-1918, 1905-04-13
OLD COUNCIL OUT
The New City Fathers are In-Big
Bunch of Business Transacted.
BONDING ORDINANCE WAS PASSED
Change In Seats Took Place Monday
Night-Mayor Bricker's Inaugural
Address.

The common council under the admin.
straton Of Mayor Robert M. Wilson ad
journed sine die Monday evening after (;
brief session. The outgoing aldermen
were M. J. Demorest, VIM. E. Clark, anC
A. L. Spencer.
On retiring from his seat as mayor Mr.
Wilson made short speech to the coun-
cilmen thanking them for the courtesy
shown him at all times and for the
hearty support they had accorded him
Their relations, he said, had been very
pleasant He dropped in several bits ot
good advice to the incoming council rela-
tive to the important work they had in
hand bonding the city for waterworks
Alderman M. j. Demorest also made
remarks and spoke of the pleasant rela-
tions he had sustained with the brother
councilmen for the past three years and
although there had been differences of
opinion at times, he held no i'll will toward
any.
Just before adjourning to allow the new
council to convene, City Clerk Moulton
passed around the salary check to each
being the munificent sum of S25 for the
years labor
The new aldermen are Geo. E. Stout,
Geo. Putnam and E. E. Chapple, all good
men for the city. Mayor w, F. Brcker
called to order and after roll call read his
address published below
The bonds of City Clerk w. E. Fisher
Treasurer w. Lee Cusser and Justice Of
the Peace Geo. W. Moulton, were ap-
proved
Allen Wells was granted the privilege
of sprnkling the streets for year Sew
eral pettion1 for street grading and side
walk buildiGg were referred to the proper
committeesl The park cormiss on sub
rnIt.ed IL tpoft t,r .s,e4 past 5ps&s aAps
asked for an appropriation of $500 for
the coming year which ashabled for a
week. Liquor bonds Of A. ]. Jonas, Ar
thur Hochradel and Dennis Hayes were
presented and referred to the ways and
means committee.
Considerable discussion was had on
the adoption of the ordinance for bonding
the city in the sum of S65,ooo partic-
ularly as to the interest rate and the
time of payment. The mayor stated that
it was up to the council to say on what
date the bonds should be issued, the
length of time they were to run and sthe
rate of interest they should be placed at.
He hoped for prompt action in the mat
ter and favored their running thirty years
and thought if the date Of payment was
extended that length of time at a rate Ct
four per cent interest the city would be
able to secure better terms from invest
ment companies and the bonds could be
sold at a premium of S 500.
Ex-Mayor Wilson said he thought the
bonds could be sold at three and one
half per cent without doubt; that he had
received phone from Toledo firm re-
garding them, whom he told that they
would probably draw interest at three
per cent The company thought that
was pretty low figure but said that
they would have man here to bid on
them and be present at the council at its
next meeting.
Alderman Chapple was in favor of
low rate of interest but thought the city
should reserve the privilege Of beginning
payment on whole or part Of the bonds
after twenty years. He didn't favor the
idea Of having large sinking fund accu-
mulate and be laying around as tempta-
ton to grafters. 1t would be better to
liquidate some of the principal.
At Alderman Smiths suggestion the
date Of issue was fixed on August /, 'o5.
The ordinance was passed with the
rate of interest placed at 81 per cent to
run thirty years from Aug. l. 'o5. and
the clerk instructed to advertise for bids
to be in by May 5th.
The Mayors Inaugural