The Owosso times. (Owosso, Mich.) 1897-1926, 1909-09-10

order said Improvement made, and
Whereas, this Council did by proper resolu.
ton. In accordance with the statutes In such
| case made and provided, levy special assess.
ment upon all the lands constituting the speci.
| al assessment district, and did give notice OF
| an opportunity for Directing 70 said special
| whereas. said Council did correct and COD.
hrm said special assessments as levied and did
by proper resolution passed at q properly call.
| ed meeting OF said Council on the 10th day OF
August 1908, determine, authorize and order
| the bonds OF said City of OwosSo in the sum OF
Twenty Thousand Dollars to be issued payable
| from the taxes received from the special
assessment upon the district established by
| this Council for the paving of Washington
| street from Mason street TO Oliver street and
| Oliver street from Second street to Dewey
| street; said bonds TO be each OF the deDomina.
tion OF One Thousand Dollars and to bear in.
terest at the rate OF not exceeding five per
cent per annum.
Whereas, the Council did by proper resolu.
ton pass at a properly called meeting of the
SAID council on the sixteenth day of August
1903 determine, authorize and order the bonds
1I tne sad CITY OF owosso in the sum OF Fifteen
OF paying part OF the expenses of the paving
OF washington street in the said city of Owosso
stpna Mason drn street TO Oliver street and Oliver
be borne by said City: Said bonds to be each
| OF the denomination of One Thousand Dollars
and to bear interest at the rate OF not exceed
Ing five per cent per annum.
Now, Therefore, Belt resolved,
list. That the Common Council OF the City Of
Owosso issue Twenty Thousand Dollars Of
bonds OF said City OF Owosso to be payable
from the taxes received from the special assess
| ments levied upon the District heretofore
established by this Council for the paving OF
washington street from Mason street to Oliver
street and Oliver street from Second street to
Dewey street, said bonds to be each OF the
denomination OF One Thousand Dollars num-
pereo from one TO twenty consecutively and in
clusively, to be dated September 18th, 1909.
become follows.
Five Thousand Dollars on the 18th day OF Nov
ember 1910 and Five Thousand Dollars on the
until all of said bonds have been paid to wit:
up to and including the 18th day OF November
1913; with interest thereon at the rate OF five
per cent per annum, payable semi. annually on
the 18th days OF May and November OF each
year, beginning with the 18th day OF May. 1910,
both principal and interest OF said bonds to be
Michigan and said interest to be evidenced
by coupons to be signed and countersigned
respectively by the Autographed or printed
signatures OF the Mayor and Clerk OF said City.
and
Be 1t Further Resolved that the Mayor and
Clerk OF said City OF Owosso be, and they ar
hereby authorized and directed to sign and
countersign respectively execute and issue
said bonds in conformity with the above speci
icatioLs, and that upon the due and legal
execution OF said bonds, the Treasurer be, and
he hereby is authorized and directed to deliver
said bonus to the Citizens Savings Bank OF
Owosso, Michigan, the purchasers thereof,
upon receipt OF the purchase price therefor,
and
Be 1t Further Resolved, that the Special
Assessment Bonds and coupons may be in
substantially the following form towit:
UNITED STATES OF AMERICA,
STATE OF MICHIGAN,
COUNTY OF SHIAwASSEE.
CITY OF OwOsso, SPECIAL ASSESSMENT
PAVING BOND.
Know All Men BY These Presents, That
the City OF Owosso, County OF Shiawassee and
state OF Michigan, hereby acknowledges itself
Justly Indebted and for value received promises
10 pay to the bearer the rum OF One Thousand
Dollars in lawful money OF the United States
OF America on the 18th day OF November, 49,
at the Citizen's Savings Bank, Owosso, Michi-
gan,'wtth interest thereon at the rate OF five
per cent per annum payable semi annually on
the 10Th days of May and November OF each
year from the date hereof, beginning with the
10Th day OF May, 1910, at said Citizens Savings
Bank, Owosso, Michigan, upon presentation
and surrender OF the proper interest coupons
hereto annexed as they severally become due
And the full faith and credit of said City of
OwoSso are hereby irrevocably pledged to paw
this bond and the interest thereon as the same
falls due out OF the special assessments levied
by the Common Council of said City OF Owosso
FOR the purpose OF paying for the public i'm.
provement hereinafter described, when said
special assessments are collected.
This bond is one of series OF twenty bonds
OF ike date and tenor, except as TO date OF
maturity, issued under and in pursuance of
Act No. 2l5 OF the Public Acts OF the State OF
provide for the Incorporation OF cities OF the
fourth class" and all acts amendatory thereof
and supplemental thereto, and was authorized
by proper resolutions OF the Council passed
under and in accordance with said above Act
No. 2l5.
This issue of bonds is for the purpose of rails
ing moneys by loan in anticipation of the
receipts from special assessments levied for
the purpose OF defrayng part OF the costs of
paving Oliver street from Second street TO
Dewey street and Washington Street from
nj ason street to Oliver street, all in said City
OF Owosso. And this bond and the interest |
thereon is payable out of said special assess |
ments, when the same are collected by said |
City OF OwossO, and said City OF Owosso here
by pledges It's full faith and credit promptly |
to collect said special assessments as the |
same fall due.
1t is hereby certified and recited that all |
acts, conditions and things required to be done |
precedent to and In the issuance of said bonds, |
Ia order to make them binding and valid |
obligations OF said City of Owosso, have been
done, happened and performed in regular and |
due form as required by law, and that the |
total Indebtedness of said City, including this
Issue of bonds does not exceed any statutory
or constitutional limitation.
In Witness Whereof, the Mayor and Clerk
Of the City of Owosso, County OF Shawassee
and State OF Michigan, have by the order and
direction of the Common Council of said City
officially hereunto subscribed the corporate
name OF said City OF OwOsso, affixed the cor.
oorate seal thereof, and executed this bond
his 10Th day OF September A. ID. 1909.
City OF Owosso, Shiawassee County, Mich.
yan,