The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1911-08-02
SPECIAL SESSION
ON BOND MATTER
COUNCIL WILL CONSIDER IMPORT.
ANT MATTER-BOND TO COVER
DEBT AND CARRY ON
STREET WORK.

Some time during the present month
the Laurium village council will hold
Il special meeting for the purpose OF
considering carefully the proposition
to bond the village for $4,000 or,
possibly, $4,000, the money TINS raised
to be used in defraying the floating
Indebtedness of the village. the $4,000
in bonds now held by the banks and
TO cover the deficit of $500 in the
sinking and interest fund. The float
ing Indebtedness amounts to about
I$14,5O0. The village attorney, a. f..
Petermann, is preparing the necessary
legal formaltics and the board will
hold its special meeting as soon as
he is ready to make a report The
council will prepare To submit the mat
ter to the taxpayers at a special elect
ion, the cost of which will be but
slight, as the board members will sit
on the election board at no added
expense to the town. Thirty thousand
dollars will take care of the floating
Indebtedness, the outstanding bonds
and the sinking fund deficit but mon
ey is also urgently needed with which
to carry on street and other improve
ment work, which must now be halted
because of lack of funds. New walks,
more pavements and extension of the
pond water mains for fire protect
ion are needed.
According to a report on the village
evening by G. w. McWanc. auditor
for the a. L. Preston Co, which has
just completed installing "A new and
up to- date system of bookkeeping and
accounting in the village offices, the
present five-mill tax will be sufficient
to take care of these bonds, the bonded
Indebtedness and the current expenses,
II ordinary economy is exercised.
Collect Old Bills.
The board has decided, however. to
get i'm all of the accounts due the
village as rapidly as possible i'm order
that il will not be necessary to borrow
more money before the bonding pro-
position can be put through. The
brewing companies selling liquor at
residences I'm the village viii be com
PEELED at once To pay the retail fee
of $500 each. The Ioughton County
Traction co. will be presented with n
bill for an amount claimed due the
village for the companys portion of
the street cleaning expense and some
thing like $4,000 due the town for
meters from water consumers and
property holders will be collected
There is also outstanding about $1,000
due for water rents, these accounts be-
ing six months old and over.
The water proposition is one that is
botherlng the village considerably at
present. 1t is stated that the water
department is running $3.50 behind
monthly in it's operating department.
The old regulations are rather out OF
date since meters were installed on
many of the services i'm the village
and the water committee will meet tho
president and clerk OF TUG NlIase 'nlh
evening To draw up new set OF rules.
These will be presented to the board
at the coming special meeting. 1t Is
probable that 1t will he found necessary
to increase the water rate to 30 or 30
cents per thousand gallons in order
to take care Of the operating expenses,
the cost Of repairing mains. making ne
ccssary extensions. etc. In the past
these deficits have been supplied out
of the general fund, and have had
considerable to do with causing the
deficit I'm that fund
There are many accounts due the
village in other departments. too, that
arc 10 be collected up as rapidly as
possible.
Extend Tax Warrant.
The council last evening decided 10