The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1907-02-08

Summit street from Cassidy street to
Shorb street in the amount of $4,000
due. October 1st 1906; interest nve per
Bonds. Nos. g and 4 for the Improve
ment Of West Ninth street by paving
from Market street to High streei, eacn
S3l2OOO, due January 1st 1896 and 1870
respectively; interest five per cent
Boz Bonds Nos yo; s. snd 4 for the improve
from Market street to High street eacI
in the sum of 90 making q total of
2Oo aps st 1soe sHd 1907
Bond No, 4 for the IMPROVEMENT of
West North street from shorb street to
January lst 1867; interest iive per cent.
Bond No. for the Improvement of
South Cherry street by paving from
wayne res Chicago Railroad G .'fDufg IN TIE sum m
Of $4,000 due January 1st, 1897; interest
Bond No. 3 for the Improvement of
Piedmont street by paving from Tenth
street TO Tuscarawas. street, also from
Fourth street to North street in the
sum of $10oO.OO, due July 1st, 1906; inter-
est four and one-half per cent.
Maple avenue from the Wheeling s.
line in the sum Of 100000, due August
18th na,ds 1895 Nintegest Mn gest fye per cent
provement of East Lake street for the
construction of a sewer from Mahoning
street 10 the east corporation line in the
$4,000, due August gust i5th' 1905 and md 1876 ~
respectively; interest five per cent.
Bond No, 22S6 for the Improvement of
West North street from Cassidy street
| to Shorb street in the sum OF 1922 so,
due September 18th, 1906; interest FIVE per
| cent.
Bond No. 224l for the Improvement of
North Court street by paving from
Fourth street to North street in the
sum of $7OOo0, due September 18th, 1905;
HNyn Hnf
! That the total amount of said indebt-
edness is Fifty-nine Thousand Three
| Hundred and Thirty-two and 45-1oo DoI-
lars ($59, ,882.45); that it is hereby deter
mined that it is for the best interest of
the City of Canton that said. indebted
ness shall be refunded.
! Sec. 2. That it is hereby determined
and declared by Council that the indebt-
edness referred, to in Section one of this
t. Tbres the Of ng
two and 45-1OO Dollars 1889, 332. 45) ls an
| existing valid and binding obligation of
said City of Canton, Ohio.
Sec. g. To provide means to extend the
! time Of payment of said Indebtedness,
which from it's limits of taxation, the
city OF Canton is unable to pay at ma
turity, and as heretofore determined 1t
| appears to the Council of the City of
Canton to be for the best interest of said
city that the same shall be refunded,
there shall be issued the bonds of the
| City Of Canton to an aggregate amount
of Fifty-nine Thousand Three Hundred
|
| 332. 49,, which said bonds shall be in the
denomination of One Thousand Dollars
($1,GOO.OO) each for ffty-eight (5S bonds,
Thirty-two and 45-1OO Dollars (S1332 45)
for the other bond, ana numbered con-
@ @sec9tlyely from one to fifty nine, all
Kountze Brothers of New York City,
or at the office of the City Treasurer In
bearing interest at the rate of four per
cent per annum, payable semi-annuaiiY,
at at + the e. said i PLACES Al Of said bonds
run for period of ten years from date.
Sec a. Said bonds shall express upon
their face the purpose for which they
pursuance of this resolution and in pur-
suance of Section 270l of the Revised
Statutes of Ohio; that they shall be pre-
pared. issued and delivered under the
direction of the Finance Committee of
| the City Council and the City Auditor;
they shall be signed by the Mayor Of
sealed with the corporate seal of said
city, and interest coupons attached to
SAID bonds shall be executed by the city
shall have his signature printed or lith-
ographed thereon
| Sec. 5. Said bonds shall be first Of
fered at par and accrued interest to the
Trustees of the Sinking Fund in their
official capacity, and if the Sinking Fund
said bonds, then said bonds not so taken
shall be advertised for public sale and
sold in the manner provided by law. but
not for less than their par value and
accrued interest. The proceeds of the
sale of said bonds, except the accrued
interest thereon, shall be used for the
Indebtedness aforesaid in the particular
form in which the same is herein above
described, and for no other purpose. The
premiums and interest accrued, received
from such sale shall be transferred to
the Trustees of the Sinking Fund to be
applied by them in manner provided by
law.
Sec. G. This resolution shall take
effect and be in force from and after
the earliest period allowed by law.
Passed Jan. 2S 1907.
GEORGE H. LEGGETT,
President Of the Council.
c. G. LLOYD, Clerk of the Council.
Approced Jan. 80, 1907
BY A. r. TURNBULL, Mayor.
| Published in the Canton Morning News