Alma record. (Alma, Mich.) 1878-1928, 1917-09-06

by the records. the said Common Council
thereupon proceeded To canvass the votes and
determine the result of the special election
held on August 3lst. 1917, on the question of
the City of Alma borrowing the sum of
$40, 900 and issuing its bonds therefor. said
bonds To mature within 10 years from the
date Of issue and 20 bear interest at the rate
of not la exceed per cent per annum pay
able sem -annually, said sum of money to be
used exclusively for the purpose OF paying
the said City's share of the costs OF con-
struction of public pavcments in said City.
And whereas. the said Council has canvas
sed the votes east at said special election up
on the aforesaid proposition and from the re-
turns of the Board OF Election Inspectors of
the several wards of said City. now on file in
the office of the City Clerk hereby finds and
determines the result of said special election
10 be follows;
Total number Of votes cast in the said sew
cral wards. at said election. a. follows, 32l
Number of votes cast in favor OF said
bonding proposition, 2ss.
Total number Of votes cast against said
bonding proposition, ~
Majority in favor Of said bonding PROPOSE
ton. POI.
Total number of votes spoiled. 6.
And whereas. II appears from the said can
that the above proposition received the
necessary two-thirds majority vote of all the
qualified electors voting thereon ~ aid spec
ial election.
Now therefore. be it resolved that said
Common Council does hereby determine that
the said proposition to borrow tho said sum
ot SlO.NOO ana issue the hrntr OF halu Wy
therefor IN said sum FOR constructing public
pavcments in said City. set forth in said
resolution. was duly approved by the qualified
electors of said City AT said 'psca election.
Yeas, Aids knocrtzcr, Adams, Ogden.
Ward. Fullerton and Lake
Nays. none
The following resolution was offered by
Alderman Lake and supported by Alderman
Wheroas it has been determined by the
common council Of the City OF Alma, upon a
l. 80 Ia. .t.l L'Isg-
ton held August 81, 1917 that the following
propositions. respectively. 10 issue the bonds
of the said City, rs hereinafter set forth
have each and all. carried by more than the
necessary two-thirds majority OF all the votes
cast viz
Bonds to be issued in the sum Of 10000
lateral and sewer extensions bonds so-caled.
the proceeds to be used exclusively for the
purposes set forth in the resolution heretofore
adopted and OF record. said bonds 20 draw
interest at Five per cent per annum payable
scn'i-annualy said bonds to be in the sum of
81 900 each given for period of 20 years,
due al the rate Of 81 600 each year and such
bonds TO be sold at not less than their par
value. 20 be dated September !. 1917.
Bonds Ia be issued in the sum OF $4,000
paving bonds called. the proceeds 70 he
used exclusively for the purposes set forth
IN the resolution heretofore adopted, and of
record, said bonds 20 draw interest at Five
per cent per annum. payable semi-annually y,
said bonds 10 be in the sum Of $1,000 each,
given for period of 10 years. due AT the
rate Of 81 900 each year. such bonds 10 be sold
al not less than their par value. to be dated
September !. 1917.
Bond, to be issued i'm the of $4,000
extension water works system bonds. so-called
the proceeds 10 be used exclusively for the
purposes set forth in the resolution heretofore
adopted and of record. said bonds To draw in
terest AT the rate of five per cent per annum
payable semi-annually. said bonds to be IN
the sum Of 81 900 each. given for per
iod Of 20 years. such bonds 10 be sold at not
less than their par value. 10 be dated Sept
|. 1917.
Now therefore BE it resolved. that the
Nayor and the CITY Clerk of said City ar.
hereby directed and authorized 10 advertise
for the sale Of the several and rcspectiv,
issues OF said bonds and that the severa
bids TO be received up to and including tn,
llth day of September A. ID; 1917, at
o'clock in the afternoon of said day Certi
fled checks Of $1,000 each TO accompany eaef
bid on each issue as evidence of good faith
checks of unsuccessful bidders 10 be returned
and checks of successful bidders To be re
tanned as part payment purchase and de
livery Of said bonds respectively;
Adopted follows
The following resolution was offered b,
Alderman Adams and supported by Alderman
knoertZer.
City Of Alma. Gratot County. Michigan. OF
the 3lst day Of August. A. u. l9l1 the quail
fed electors OF said City. by vote OF NOR
than two-thirds ofthose voting at said cleo
ton did authorize the Common Council o
said City 10 borrow the sum of $4,000 ant
issue the bonds of said City therefor. for tn
purpose OF the cost OF the extension
Of the present water works system of sal
City. appears by the resolutions hereto
fore adopted
Now Therefore be il resolved by the sai
of Alma be- issued in the sum Of $4,000
said bonds 10 be each OF the denomination q
$1,000. numbered from one to seyenty-s''
September /. 1917. and 10 become due an
payable a. follows: each of said bonds %
the first day of September. 1887. with ntcre-
81. .,f b. rafn pf nor "A n
mum. payable semi-annually on the LIST da
Of March and of September OF each and ever
year from the date thereof, both principal an
interest To be payable at the
and said interest 20 be evidenced by coupon
70 be signed by the original or lithographe
or printed signatures of the Mayor and Cler
Of said City.
| BE il further resolved. that the Mayor an
Clerk be. and they are hereby authorized an
, directed 10 sign and countorsgn respectvei
and execute the above bonds in confOrmit
with said Specifications. and attach thereto Oh
{ corporate Seal of said city Of Alma and tina
upon the due and legal execution of said bono
the Mayor and Clerk be- and are hereby d
rectcd and authorized to deliver said execute
bonds TO the Treasurer of said City. who sha
deliver said bonds. hereafter directed
Y said Common Council TO the purchaser Their
= Of. upon the receipt Of the contract purchas
. price therefor, amounting To at least par an
T accrued interest.
r BE il further Resolved that the bonds an
i coupons shall be in substantially the follow
g ng form
f United States Of America
n State Of Michigan
County of Gratot
City of Alma
Water Bonds.
. Know All Men BY These Presents, that q
: City OF Alma. County OF Gratiot. and State
r. Michigan. n municipal corporation, herei
. acknowledges itself justly indebted and f
i value received promises 10 pay the bear
I hereof the sum Of 81 900 lawful money
: the United States of America. on the Fir
), day Of Scpbmber. A. ID 1881 at the
I with interest thereon until paid. at the ra
e OF Five per cent per annum. payable SEN
annually. on the First day Of March and Sc
tcmber Of each and every year from the da
!. hereof, at the said
n upon the presentation and surrender OF q
y proper interest coupons hereto attached.
J.. they sevcrally become due and for the prom
uaymcnt of the principal and interest Of n
bond and Of the series Of which II forms
n. part. the full faith. credit and resources
m said City of Alma are hereby irrcvocab
- pledged
This bond is one OF series Of IS bonds
like date and tenor. issued under. IN purs
lc ance Of and in conformity with the prov
ion. of law and was authorized by a vote
~ more than two. thirds Of the qualified electo
j. of said City. voting at a special election he
- therein. on the 3lst day of August A. ID. l9l
Is The series of bonds Of which this is one. h
le been authorized 10 be issued for the purpo
In of paying the cost of the extension OF
al present water works system of said City a
re is hereby declared 10 be tax exempt und
o. and in accordance with the provisions OF la
Mt The principal and interest of this bond. a
the series of which il forms n part. va
tn able out of the Interest and Sinking Fund
said City of Alma.
1t is hereby certified and recited that
n. acts. conditions and things required TO
Of done precedent to and in the issuance of -
he series Of bonds of which this is one, in ORD
I'd To make them valid and binding obligato
u Of said City of Alma. have happened a
SOL ttIur a