The Bennington evening banner. (Bennington, Vt.) 19??-1961, 1915-01-16
VILLAGE ASKED TO
80" nnNOS F0R
new HOSPITAL.
Plan To Gel Hospital Quicker and
Save Interest
VILLAGE lNCURS NO RISK BV IT
Trustees Hear Plan and viii Pass 1t
Along to the Voters To Decide
For Themselves.

At a special meeting of the village
board of trustees Friday evening
there was submitted the draft of q
proposed bill to enable the village tc
assist the Henry w Putnam Mem
orial Hospital association to raise
funds with when to build the rropos
ed hospital building.
This bill. provides that the villa q
of Bennington may issue bends tC
the amount of $4,000.
The bill further provides that AN
arrangement in writing shall be made
between the village and the hospital
association whereby such amounts AS
are necessary to meet the bonds as
they mature and pay the interest
shall be deducted from the annual
net income OF the water system
which was given to the village by
Henry w. Putnam of San Diego, Cal,
two years ago.
The hospital association has taken
this course for the reason that mu-
nicipal bond, and especially a Yer
mont municipal bond. can be much
more easily sold than a bond that
could be issued by the association, al
though the association has a perman-
entity established income. The bonds
would be paid from the income of the
water system There is no possibili-
ty that the village would ever be re.
hx-t
In the absence of President A. f.
Hollister, Trustee Morrissey preseo-
cd at the meeting and there were
fresen itds tets .sAsa. Nvi.n, ktt-
chic. McGurn and Gunshannon. also
Clerk Hogan and Attorney Bennett
MIR. Bennett read the bill by sections
and it was discussed at length A
resolution introduced by Trustee
Ritchie that the clerk be instructed
to endorse the proposal to submit the
question to the voters without in any
way committing the trustees to the
question of bonding the village was
adopted.
The bill is as follows:
All ACT " cudbit lnt uldSt VI
Bennington to issue its bonds to aid
Henry w. Putnam Memorial Hospit-
al. in constructing its hospital
1t is hereby enacted by the general
assembly of the state of Vernon.
The Village of Bennington, a mu-
nicipal corporation chartered, orga-
nized and existing under and by vir-
tue of the laws of the State of Yer
mont, and located within the limits of
the township of Bennington in the
County of Bennington in said State
is hereby authorized and empowered
by a majority vote of the legal vot
ers of said Village who are present
and vote at a meeting duly called and
holden fer that purpose, to issue its
bonds to an amount, par value, not
to exceed Eighty Thousand Dollars
in the aggregate. with interest bear
ing coupons thereto attached, for the
object and purpose of raising fund,
by the SAFE thereof, and loaning the
proceeds of such sale to the Henry
w. Putnam Memorial Hospital a
corporation, charactered, organized
and existing under and by virtue of
Act. No. 401 of the Session Laws of
1912 entitled, "An Act to incorporate
Henry w. Putnam Memorial Hospit-
al approved December u, 1912 as
amended by Act No. of this
present Session, and having its office
and principal place of business at
said Village, to be used by it toward
building its hospital authorized by
said Acts, and son enabling it to com
plete the same in the near future.
And said bonds shall bear interest
not to exceed four per cent per
annum, payable semi annually, and |
shall be OF such denomination or de- |
and of such date as the |
trustees of said Village may deter !
mine. and shall be numbered conse- |
from one up, and shall be !
payable at such time or times, and at |
such places as said board of trustees |
may fix and determine. Said bonds |
shall each be signed by the trustees !
of said Village, and countersigned by |
its clark, and shall bear the seal Of |
the Village; but the coupons thereof |
shall be signed by the treasurer OF
said Village. or bear fac smile of |
his signature Each of said bonds |
shall contain on the face thereof
statement of the purpose for which
it is issued, and that it is one OF a
series of bonds issued under and 10y
virtue of the authority conferred byi