Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1909-08-19
PROPOSED ORDINANCE NO.
G. E. BOLEs,
City Clerk.

An Ordinance Directing the Issue Of Fund.
ing OF General City Indebtedness Bonds oil
the City of Grand Rapids, Wisconsin. to
the Amount of $4,000 and Providing for
the Payment Thereof.
The Common Council of the City
of Grand Rapids, Wisconsin do or
dain as follows:
Section 1. That the funding of
general city Indebtedness bonds of
the city of Grand Rapids, Wiscon-
sin, to the amount of 100000 duly
authorized by Section 925-133 of the
| Wisconsin Statutes shall be issued
in denominations of $1,000 each, ex-
! cept the last bond of this series
which shall be for the sum of $21,-
900, all under date of September 10,
1909, and the interest shall be evil
denced by semi-annual interest cou-
pons of $4,000 each payable on the
18th day of September and the 18th
day of March of each year. Both
principal and interest of the said
bonds shall be made payable at the
office Of the city treasurer in the
city of Grand Rapids, Wood County,
Wisconsin, and at the option of the
holder in exchange on Milwaukee,
Chicago or New York.
Section 2 The said bonds and in
terest coupons shall be substantially
of the following form subject to
the necessary variations as to num-
bers, maturities, etc.
STATE OF WISCONSIN
County of Wood
No. 1. $1,000.
CITY OF GRAND RAPIDS
Funding of general city indebted
ness bonds.
KNOW ALL MEN BY THESE
PRESENTS, That the city of Grand
Rapids, Wood County, Wisconsin, is
justly indebted and for value re-
ceived hereby promises to pay to
the bearer on the 18th day of Feb
ruary, 1920, the principal sum of
81 900 with interest thereon at the
rate of four per cent per annum,
payable semi-annually on the 18th
days of March and September as
evidenced by and on the presentation
and surrender of the annexed interest
coupons as they severally become
due. Both principal and interest
hereof are payable at the office of
the city treasurer in the city of
Grand Rapids, Wood County, Wiscon-
sin, and at the option of the holder
in exchange on Milwaukee, Chicago
or New York.
This bond is one of a series Of
ten bonds of the same date and
amount aggregating 100000, issued
for the purpose of funding the gen
eral CITY Indebtedness of The said
city Of Grand Rapids
1t is hereby recited and certified
that the issue hereof is duly auth
orized by Section 925-133 of the Wis
consin Statutes and by a three
fourths vote of all the members of
the Common Council elect at a reg
ular meeting after due publication of
the proposed ordinance authorizing
the same in the official paper of
said city; that legal provision has
been made for the levy ana collec-
ton of an annual tax sufficient to
meet the payment of the interest
and principal hereof as the same be-
comes due; that all acts, conditions
and things required or proper to be
done precedent to or in the issuance
of this bond have been legally had,
| done and performed, and that the
amount of this bond together with
all the other Indebtedness of said
city of Grand Rapids does not ex-
coed any statutory, constitutional, or
other legal limitation thereon. For
| the payment Of principal and interest
hereof the full faith, credit and re-
sources of the said city are hereby
| irrevocably pledged.
In witness whereof the said city
of Grand Rapids has caused this bono
to be signed by its Mayor and Clerk
under it's Corporate Seal and the in
terest coupons hereto attached to
be signed with the Autograph sigma
ture of said Clerk as of the date
of the 18th day of September, 1909