The Barre daily times. (Barre, Vt.) 1897-1959, 1909-11-24
CANNOT ISSUE
WATER BONDS.
Under Reading Of Barre'S
City Charter
SAYS BONDING HOUSE
City Is Authorized to Bond for Only
S25o,ooo, and, Although 0ne-fifth Of
That Issue Has Been Retired,
Further Issue Isn't Allowed.

The special city meeting held at the
opera house last evening was almost a
record breaker for smallness Of attend
ance and duration. There We're only
about 25 present, and 80 minutes after
the meeting was called to order, the bust
ness for which It was called was com.
pleted and adjournment was in order.
II. w. Scott was elected moderator.
First on the warning for action was to
vote whether to rescind or modify a
vote taken at a meeting held April e,
1909, when II was voted to issue water
bonds for the purpose o. meeting the
expenses 81 building the new Orange
brook reservoir city Clerk Mackay ex-
planned that since the time the city was
authorized at the meeting 70 issue the
bonds, he had been in communication
with Ropes, Gray & Gorham Of Boston,
who are attorneys for the City Trust
company Of that city, and that IN the
opinion Of this firm il was not within
the limits Of the charter rights Of this
city to Issue more water bonds at the
present time. According 70 the charter,
the city is authorized to issue water
bonds to the amount Of S250,000, and
bonds TO this amount have already been
issued. Although $4,000 OF the bonds
issued have already been cancelled, in
the opinion Of the lawyers before men
toned, the city has no right under the
charter 70 issue more water bonds.
After this discussion, the QUESTION was
put. and the meeting voted unanimously
10 lay the matter on the table City
Clerk Mackav stated that % far the
expenses Of building the reservoir had
BEEN taken care Of BY general funds
The next article IN the warning was
Ia see whether the city would rescind
or modify its vote, taken a the meeting
held July 81 1909 wheu an issAe of bonds
Easns apth0gixAa fnz paYiug tha exRenses
III erecting the new schoolhouse "a CHnlp
street Again. City Clark Mackay arose
ii explanatiou and stated that the rea
son why this was put into the warning
was that after consultations with bond
experts he had been advised that the
present time was not an opportune one
for the floating Of bonds, owing TO the
stringency Of the money market.
All OF these experts, he said had adj
vised waiting until a little later, when
the money market should be easier. Ac-
cordinQly, q motion was made that the
vote Of the previous meeting be rescind
cd.
The following resolution was then
read BY Alderman Alexander;
Resolved. That the vote Of The city
passed az the meeting Of July 9. 1909,
authorizing the issue Of bonds for the
purpose Of paving for the hand required
10 erect a new school building at Camp
street and the erection Of school
building thereon, be amended SO far as
necessary to comply with the following
particulars: Tho mayor, chairman Of
the finance committee and city treasurer
shall issue and sell school bonds Of the
city to the total amount Of $4,000,
dated sept. i. 1000, for 81 900 each, ma.
turing i've each year. on Sept | of the
years 1912 to 1910, inclusive, with inter
est Al the rate OF four per cent per
annum, the coupons to be payable March
and September L ait the Office Of the
city treasurer none Of said bonds shall
be obligatory without the autheuticat-
ing certificate of the City Trust com
pany of Boston endorsed thereon. All
other particulars as to the form and Isl
suance and sale Of said bonds shall be
determined by the mayor, chairman Of
the finance committee and city treas.
urer. Said bonds may be sold at public
or private sale
Resolved, further, That the mayor,
chairman Of the finance committee and
city treasurer are hereby authorized to
prepare, execute and sell the temporary
nots or notes Of the city TO the total
amount Of $4,000, in anticipation Of.
the issuance of said school bonds such
notes to be signed by the mayor chair.
man Of the finance committee and city
treasurer, to be dated December 1909.
and to mature not more than three
months from that date, and to he paid
lat Or before the issuance Of said school
bonds, and ont of the proceeds Of the
sale of said bonds"
After some discussion, this resolution
was adopted as read the vote being Ie
TO : in favor Of its adoption.
The matter Of Al bill for S33l0 for
horse hire which City Engineer Reed
paid for transportation to the new reser-
voir at different times was brought up.
It was explained that Mayor Robins
refused to siau the warrant for it's paw
ment, rot thinking II in bis power to
do so The meeting passed a vofe in-
structing the mayor to sign a warrant
for the payment Of the bill The meet
ing was then adjourned.