Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1908-09-03

mission of said city. All Of said op-
tionS and said offer of the CentraIia
Pulp & Water Power Company are
here presented and made part of
this offer TO the city.
The Grand Rapids Improvement
ASsGciatian proposes to issue bends of
one hundred $500 dollars each. bear
ing interest at the rate of six per cent
per annUm payable semi-annually for
the purchase of said above described
property and hereby offers to the CITY
of Grand Rapids to convey its equity
in said property to the city, subject
to said outstanding bonds for the sum
CT one hundred fifty $3.50 dollars,
which sum covers the expenses of the
company in obtaining said property.
The stockholders of said company
have already met and voted unani-
mously authorizing the secretary to
submit this offer to the council.
Signed
Grand Rapids improvement Co."
The following resolution was pre-
Sented and by unanimous vote, the
Clerk calling the roll. adopted.
WHEREAS, it is DESTROYS that the
City Of Grand Rapids should obtain
without further delay and preserve
for the benefit of all of the people
within said city the beautiful scenery
and benefits Of the river front of the
Wisconsin River in said city below the
wagon bridge on Grand Avenue, and
WHEREAS, a corporation known as
the Grand Rapids Improvement AS
ISOLATION has been organized for the
improvement and welfare of said CITY
and has obtained for the benefit of
said city options upon and the right
to purchase all of the lots bordering
on the east bank of said river from
Lot Block 3 to Lot 4 Block Z of
Neeves First and Second Additions
to the City of Grand Rapids and up
on all OF the west bank of said river
from Grand Avenue to the south line
of the Commercial Hotel property
owned by P. Mulroy, except So feet
owned by Harvey Gee and used for
saloon purposes, and except the prop
erty known as the Saul Preston prop
erty used for wagon and blacksmith
shop, and has also obtained assurance
of a conveyance of about 81 acres from
the Central1a Pulp & Water Power
| Company upon the West bank of said
river, including three islands in said
river, which options and descriptions
have been presented to the council at
| this meeting, and
WHEREAS, said Company has voted
to accept said options and to pur-
chase said property and TO issue
bonds for the purchase price thereof,
which bonds are to be a lien upon
said property, and
WHEREAS, said Grand Rapids I'm
provement Association has and does
now offer in writing to convey the
equity owned by it in said property,
subject to said outstanding bonds, to
said city for park purposes for the
sum of One Hundred Fifty (S15O) Dol
lars, which sum covers the expenses
of obtaining said property.3
RESOLVED: That the City of Grand
| Rapids does hereby accept said offer
of said Grand Rapids Improvement
| Association.
| BE IT FURTHER RESOLVED that the
Mayor and Clerk Of said city deliver
to said Association an order upon the
| City Treasurer for said sum of One
, Hundred Fifty (S150) Dollars when
! the title to said property shall have
been transferred to said city for park
purposes and said transfer shall have
been approved by the City Attorney"
| A communication was received
foom the Electric g Water Company
to the effect that said Company now
has an outstanding indebtness of about
$150000 90 and that it is necessary to
expend about $150OO0U more in the
matter Of repairs and extensions and
requesting the Council to guarantee
! the interest on $50, 100000 with the
bonds to cover the present outstand-
| ing Indebtedness and the estimated
cost of the new expenditure. The
matter was, on motion, referred to
the City Attorney and action thereon
deferred until the regular meeting of
the Council, pending the City Attor-
ney's opinion.
ON motion, the Council adjourned.
G.. E. BOLEs. L. POMAINVILLE.
Clerk Mayor