The true northerner. [volume] (Paw Paw, Mich.) 1855-1920, 1907-09-20
Council Proceedings.
Ordinance No. 54

An ORDINANCE authorizing the is.
sue OF water works bonds to the amount
of twenty thousand dollars (S20,OOO) 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 Tor the time and in the manner
required OJ law, more than two thirds
of the voters voted in favor OF the issue
of the water works bonds of the village
of Paw Paw, Michigan, to the amount oil
twenty thousand dollars; Therefore,
THE VILLAGE OF PAW PAW oRDAINs:
Section / That the President and
Clerk of thu village OF Paw Paw are here
by authorized and directed to have pre-
pared aud to execute under the seal OF
the Village of Paw Paw Water Works
Bonds - the amount Of Twenty Thous-
and Dollars authorized at said election
of August 3ls,, 1871. 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 go, 900 in
amount thereof becoming due on the lst
day of September in each OF the years
1894 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
tional Bank in the City OF Chicago,
State of Illinois.
Section 2 The said bonds hereto au.
thorized shall be in substantially the
following form:
No. $1,000
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 owe, 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 lst 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 redeemabe at the option of the
village of Paw Paw at any time after
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 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.
quired to be done precedent to and in
the issuing of this bond have been done
happened and been performed in regular
and due form as req uired by law, and that
the total indebtedness of the village OF
Paw Paw, including this bond does not
exceed the statutory or constitutional
limitations.
In testimony whereof, the village coun-
Gil of the village of Paw Paw, Michigan
have caused this bond to be signed 10y
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.