Charlevoix county herald., 1918-03-01

Adjourned regular meeting OF the
City Commission, held at the commits
sion rooms, Tuesday evening, Feb. 26
Meeting was called to order by Mayor
Cross. Present-Cross, Gidley and
Crowell. Absent-None.
The following resolution was offered
by Commissioner Crowell, who moved
its adoption; seconed by Commissioner
Gidley:
Whereas certain typographical errors
appear in Section nineteen of Article
eleven of the Charter, rendering its
intent and meaning obscure, and
Whereas il is deemed advisable by
this commission that there be incor-
porated into the charter the authority
and powers granted by Section 1907 OF
the Compiled laws OF 1916. as amended
by Act 232 of the Public Acts OF 1917,
relative to the right of city to acquire,
own, purchase, construct or operate
public utilities, and to raise money for
the purpose of acquiring, owning, pur-
chasing, constructing or operating such
public utility, Therefore
Resolved. That section nineteen OF
article eleven of the charter be amend
ed by divided said section into two
sec<ions te-be called sections nineteen
an Nineteen a, and as amended be
madgto read as follows:
Sec. l9. In case OF fire or flood, or
other pubiic calamity the commission
may borrow for the relief OF the inhab-
itants OF the city and for the preserva-
ton OF municipal property, a sum not
exceeding one fourth OF one per cent OF
the assessed value of the real and per-
sonal property in the city, due in not
more than three years.
Sec. l9a. For any loans lawfully
made the bonds of the city may be
issued, bearing legal rate of interest.
A record showing the dates, numbers
and amounts of all bonds issued, and
when due, shall be kept by the city
clerk. WheH deemed necessary by the
commission to extend the time OF pay
ment new bonds may be issued in place
of former bonds, falling due in such
manner as merely to change but not to
increase the Indebtedness OF the city.
Each bond shall show upon its face the
class of Indebtedness TO which it
belongs and from what funds it is pay.
able. No bonds shall be issued without
providing sinking fund to pay them
at maturity; Provided, That no sinking
fund shall be required in the case Of
serial bonds which shall fall due annu-
ally; And Provided Further, That upon
the issuing of any mortgage bonds to
acquire, own, purchase, construct, or
operate any public utility beyond the
general limits of bonded Indebtedness
In .shis charter, or by law prescribed,
pd secured only upon the property
s1d revenues OF such public utility, that
there shall be created sinking fund
by setting aside such percentage OF the
net or gross earnings OF the public
utility as may be deemed sufficient for
the payment Of the mortgage bonds at
maturity.
Further Resolved, That there be
added to chapter twelve az OF the
charter of the city ten new sections, to
be known as sections seventeen QD,
eiohteen l8). nineteen 19), twenty
(2O), twenty-one (2D, twenty-five (22)
twenty-three (23), twenty-four ga
twenty-five (25), and twenty-six f26)
said zktions to read as follows;
SO. II shall be lawful for the city
to acquire, own, purchase, construct,
or operate, either independently OF, or
In connection with the water works OF
the city, either within or without the
city, any public utility and works for
the operation of the same, for the pur.
pose OF supplying the city and its in
habitants, or either, with gas, electric
or other lights, water, or any necessary
public commodity, al such times and on
such terms as hereinafter provided.
Sec. IS. Whenever the city commits
sion shall, by resolution, declare that i
is expedient for such city to acquire
6wn, purchase, construct, or operate
Spy public utility for the supplying o
lie city and Its inhabitants, or either