The Owosso times. (Owosso, Mich.) 1897-1926, 1905-10-13

An ordinance authorizing the Issuing of fif-
teen thousand dollars of reiunding bonds of the
city OF Owosso, Shiawassee county. state of
Whe cas- 1t is deemed necessary by the COM
mon coui cl of tile city of Owosso to extend the
payment OF fifteen one thousand dollar general
Improvement bonds of said city falling due j ne
81. 1905. and issue new bonds In the place of the
former ones falling due in such a manner as to
Grange the Anne OF payment but not to Increase
the liability OF the city OF Owosso,
The City of Owoss osordans-
Section L, That the City IF Owosso shall issue
It's negotiable coupon bonds In the sum OF fif-
pose of extending the time of payment of for
mer. bonds falling due June 80, 1905, in such u
manner astomerely change but not to increase
the Indebtedness OF said city Said bonds shall
-be- 1fveeff1 in numbeh numbered from one to
= fifteen inclusive and Of the denomination Of enc
thousand dollars each. and shall be dated Octo
Der 2, 1906, and shall fall due October 2, A. D.,
1917, shall bear interest at percent per annum,
payable semi-annually on the I'd day # April
interest to be payable at the Chase National
Bank Of New York, state of New York. Said
interest to date of maturity to be evidenced by
detachable coupons to be attached to each of
said bonds.
Section 2. That the proper officers of said
city be and are hereby directed to issue, execute
sign and cOuntersign said bonds in conformity
with the above specifications That each bond
shall show on Its face the class of indebtedness
to (Which 1t belongs and from what fund 1t is pay
able and that upon due and legal execution of
said bonds the city treasurer be and is hereby
authorized and directed to deliver said bonds
to the purchaser or purchasers thereof from
said city of Owosso upon receiving payment
therefor. providing that said bonds shall be de-
livered only as the General Improvement bonds
the time of payment which fell due June 30, 1905
In an equal amount of said refunding bonds,
shall be cancelled and paid so that the Indebted
ness of the said city of Owosso shall not be at
any time Increased,
hereby Authorized shall be in substantially the
following form, to-wit:-
United States of America, state of Michigan.
county OF Shiawasssee, S s.
City of Owosso refundlng bonds.
No.. $1,000.
BE known that the city of Owosso in the
county of Shlawassee and state of Michigan
acknowledges itself to owe and for value re-
ceyed hereby promises to pay to bearer, one
Thousand dollars on the I'd day of October. nine
teen hundred seventeen (1SlO together with
interest on said sum from the date hereof until
paid at the rate OF four per cent per annum pay.
able semi-annually on the I'd day OF April and
october In each year upon presentation and
surrender Of the annexed tnteres r coupons as
interest payable in lawful money OF the United
States of America at the Chase National Bank
the prompt payment Of this bond both princi-
pal and interest at maturity the fun faith and
credit Of said CT y are irrvocably pledged.
This bond is Issued by the city OF Owosso for
of a IKE amount of former bonds falling due by
virtue and In pursuance OF the authority con,
nsS II ssS q 70 q Gse q Michigan
.an Act TO provide for the Incorporation OF
cities Of the fourth class approved May 27ih,
1882 and all acts ammendatory and supple
mental thereto.
And ft is hereby certified that every re.
oufrement OF law has been duly compiled
with IN the issue hereof and that the FORMER
bonds falling due, the time OF payment OF
Which is hereby extended were valid and
binding obligati ons OF the city OF Owosso
and that the indebtedness q ths cry Ha, was
ana that this bond and the Londs extended
are within every debt and other limit pre-.
scribed by law This bond and the 1nte and
bond fund OF said city.
In witness whereof the city Of Owosso has
caused It's corporate seal to be hereto amxeo
and these pre;sea' Sy the city Clerk in its
behalf, this End day OF october A. Do, i"O0'
STANLEY e. PARK MaLor
Countersigned and Registered
FRED EDWARDS,
City Clerk
5000 on the second day OF ApIiI my y,
Shiawassee and state of Michigan VIII pay
bearer twenty dollars at Chase NatIcnn,
betng the sixth months interest on It's re-
funding bonds OF Oct. 2nd' i"o' Movor
City Clerk
rach counon TO bear on its face In red
f,yures the number corresponding TO ths
n1nbers OF the bond to which 1t Is attached
and the coupons TO be numnered IRON on'
sec a That all ordinances or PARTS OF
ordinances In conflict with the provisions
OF this ordinance be and the same are mere
by repealed.
secs That this ordinance shall be In full
force and effect from and after the date oi
its passage and publication u.,,.,
r~.u.oxetooad