The true northerner. [volume] (Paw Paw, Mich.) 1855-1920, 1907-09-06
Council Proceedings.
Ordinance No. ga

An ORDINANCE authorizing the is
sue of water works bonds To the amount
of twenty thousand dollars (S2O,0OO) of
the village of Paw Paw, Michigan;
WHEREAS, at an election duly called
and held in the village Of Paw Paw,
Michigan. on the 3lst day of August,
1907, after notice thereof had been duly
given for the time and in the manner
required by law, more than two.thlrds
OF the voters voted in favor of the issue
of the water works bonds of the village
of Paw Paw, Michigan, to the amount OF
twenty thousand dollars; Therefore,
THE VILLAGE OF PAW PAW oRDAINs:
Section L. That the President and
Clerk OF the village of Paw Paw are here
by authorized and directed to have pre-
pared aud 10 execute uuder the seal OF
the Village OF Paw Paw Water Works
Bonds to the amount Of Twenty Thous-
and Dollars authorized al SAID election
of August 3lst, 1907 Said issue OF
bonds shall consist of twenty (2O) bonds
of One Thousand Dollars Isl 900 each,
dated the LIST day of September, 1907,
and Five Thousand Dollars 80, 600 in
amount thereof becoming due on the LIST
day of September in each of the years
1884 to 1897, both inclusive, which said
bonds shall bear interest, evidenced by
coupons, at the rate of five per centum
per annum, payable semi annually, and
both principal and interest of said bonds
shall be made payable at the First Ma
tiona Bank in the City OF Chicago,
State of Illinois.
Section 2. The said bonds herein au-
thorized shall be in substantially the
following form:
No sl,OOO.
UNITED STATES OF AMERICA, STATE OF
MICHIGAN, VILLAGE OF Paw Paw, WATER
WORKS BOND, PAYABLE FROM THE INTER
EST AND SINKING FUND.
Know all men by these presents, that
the village of Paw Paw, In the county OF
Van Buren, and state OF Michigan, ac-
knowledges to owH, and for value re-
ceived hereby promises to pay to bearer
one thousand dollars $1,000 lawful
money of the United States of America
on the LIST day of September, = with
interest thereon from the date hereof at
the rate of five per centum per annum,pay-
able semi-annually on presentation and
surrender of the annexed interest cou-
pons as they severally become due. This
bond is redeemable at the option OF the
village OF L dW dW az any lihO nitCi
September /, 1922.
Both principal and interest of this
bond are hereby made payable at the
First National bank In the city OF Chi
cago, state of Illinois, and for the prompt
payment of this bond, and the interest
thereon. the full faith, credit and re-
sources of the village of Paw Paw are
hereby irrevocably pledged.
This bond is one of a series OF like
tenor, issued for the purpose Of provid-
ing for the cost of constructing the wa
ter works system of the village of Paw
Paw under the authority of chapter 81
of the Compiled Laws of Michigan, and
of an election duly called and held In
said village on the 3lst day Of August,
1907.
And it is hereby certified and recited
that all acts. conditions and things re
CURED to be done precedent to and IN
the issuing of this bond have been done,
) happened and been performed in reg ular
and due form as equired by law, and that
the total Indebtedness of the village of
Paw Paw, including this bond does not
exceed the statutory or constitutional
limitations
10 testimony whereof, the village coun-
y ell of the village OF Paw Paw, Michigan
have caused this bond to be signed by
the president, attested by the clerk, with
the corporate seal hereto affixed, and the
interest coupons hereto attached to be
executed with the fac simile signature
of said officers this lst day of September
1907.