Belding banner. (Belding, Mich.) 1889-1918, 1916-05-24
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Council Proceedings

lOFFICIAL)


five 90 of the most public places in
each of the wards of the city at least
two weeks before said election, held in
said city on the 3rd day Of April, 1916,
at which said election vote was dir
ected to be taken upon said PROPOSE
ton, such vote to be by ballot; and
WHEREAS, A majority of the cleo
tors, qualified and voting upon said
proposition at said, election, did vote
in favor thereof, and this council was
thereupon and thereby authorized to
raise said amount by loan, and issue
the bonds of said city therefor;
NOW, THEREFORE, The City of
Bedding. Hereby Ordains that, for the
purpose of improving certain streets
in and Of said city, thereby raised, by
loan, the sum of Twenty-Five Thous-
and Dollars ($25, 000) and that the
bonds of said city be issued therefor.
That such bonds be dated June 1, 1916,
be of the denomination of One Thous-
and Dollars, ($1,000) each, numbered
from ] to %, both numbers included,
to be due and payable in numerical
order, Five Thousand Dollars ($5,000)
on the first day of June i'm each of the
years, 1928, 1880, 1882, 1884, 1886,
and bear interest at the rate of four
and one-half per cent (411) per an
mum, payable semi-annually on the
first day of June and of December in
each year. That such bonds be sign
ed by and Mayor of said city and seal
ed with the corporate seal of said city,
and attested by the. city clerk thereof.
That interest accruing on said bonds
be evidenced by coupons thereto at
tached, and that such bonds be sign
by said Mayor and City Clerk, by their
fac simile signatures, which
officers shall, by the execution of said
bonds, adopt as and for their respec-
tive proper signatures their respective
fac simile signatures appearing on
shall be payable at the Banking House
of E. H. ROLLINS & SONS, in the
City of Chicago, Illinois.
That such bonds and coupons shall
be in substantially the following
form:
(Form of Bond)
UNITED STATES OF AMERICA
STATE OF MICHIGAN
COUNTY OF IONA
CITY OF BELDING
M p r OV Z NJ ENT BOND
KNOW ALL MEN BY THESE |
PRESENTS, That the City of Belding, /
in the County of Ionia, State of Mich |
igan, hereby acknowledges itself to
owe and for value received, promises
to pay TO bearer the sum of One Thou /
sand Dollars Isl ,000) in lawful money
of the United States, on the first day I
of June, 10. with interest thereon /
at the rate of four and one-half per /
cent (41a) per annum, from the date /
thereof until paid, payable semi-an- |
nually on the first day of June and of /
December of each year, on presenta- I
ton and surrender of the interest cou-
pons hereto attached as they several |
ly become due. Both principal hereof |
and interest hereon are hereby made I
payable at the Banking House of +. H. /
e. SONS, in the City of |
Chicago, Illinois,.
For the prompt payment of this /
bond, both principal and interest, at |
maturity, the full faith, credit and re-
sources of said city are hereby ire
vocably pledged,I This bond is is
sued by said city for the purpose of |
streets in and of said city,
and expense whereof is payable from |
the general funds of said city, in full |
with the Charter of said |
City, the same being Act No. 313 of |
the Local Acts off the legislature of |
the State of Michigan, passed at the |
regular session of 1893, as now
amended, and is authorized by a ma
jority vote of the electors voting on /
the question at the annual city cleo
ton, held in said city on the 3rd day
of April, 1916, and by resolutions
and an Ordinance duly and properly |
passed by the council of said city.
1t is hereby certified and recited /
that all acts, conditions and things /
required by law to exist or to be done I
precedent to and in the issuing of this /
bond did exist, have happened, been !
done and performed, in regular and |
due form and time, as required by 4
law; that the indebtedness of said city, |
including this bond, does not exceed /
any limitation imposed by law, and |
that this bond belong to the class /
of Indebtedness authorized by Section |
20 of Chapter 20 of said Charter of /
said City, and is payable from the in
terest and sinking fund of said city.
IN TESTIMONYnWH WHEREOF, Said
city, by its council, has caused this |
bond to be signed by its mayor and to /
be sealed with its corporate seal, at
Continued on Page Nine)