The Owosso times. (Owosso, Mich.) 1897-1926, 1918-03-01
Resolution No. l1i5.

The following resolution was presented and
M: Rosevear moved the adoption of the reso-
luton which motion prevailed ayes, Hans
com. Rosevear, Wright.
Resolution No. IlIe.
WHEREAS. indebtedness of the City of
Owosso, represented by bonds to the amount
OF Fifteen Thousand Dollars (S15, 100000,
dated March 2, 1908. become due aud pay able
March O. 1918. and
WHEREAS, it is deemed necessary by this
Commission to extend the time of payment
Of said Indebtedness, and to issue new bonds
therefor, in such manner to change the
time of payment. but not to increase the in
debtedness of said city:
Owosso isuse its negotiable coupon bonds in
the sum of Fifteen Thousand Dollars ($15, 000.-
00) for the purpose of extending the time Of
payment of the Indebtedness represented by
outstanding bonds of said city, falling due
March 2, 1918 In such manner a. merely
of said city. Said bonds shall be fifteen Q5)
in number. numbered from to 10, inclusive,
and of the denomination of 100000 each !;
shall be dated March 2, 1913, and shall
ination o t.t00 shall fail due March 1919,
two of said bonds shall fall due March 2 1891,
two OF said bonds shall fall cue March 2, 1920.
TWO Of said bonds shall fall due Marsh 2, 1872
two Of said bonds shall fall due March 2. 1923.
two OF said bonds shall fall due March O. Ie24
two OF SAID bonds shall fall due March 2 1872 SS.
and shall bear interest az the rate of i've per
cent per annum payable on March 2 and Sep
est payable at tbs Oitizsns' savings Bank
OF Owosso, Michigan. the inter
est 80 date of maturity being represented
byScoupons bearing the printed or lithograph-
BE 1T FURTHER RESOLVED: That the
Mayor and City Clerk be. and are hereby,
directed to sign and execute said bonds and
deliver the same to the City Treasurer, and
4l-A L. sAxr ha and 10 hAEa hxT
directed to issue and deliver the same to
The Cltizeens' Savings Back Of
Owosso, Michigan. The purchasers
thereof when the bonds OF the a'ore aid issue Of
March 2, 1903. shall be suTreDoeredand cane lied
SO that the Indebtedness of said City shall at
no time be increased
BE 1T FURTHER RESOLVED: That the
said bonds and coupons shall be in substan-
TALLY the following form, to-wit:
UNITED STATES OF AMERICA
STATE OF MICHIGAN
COUNTY OF sHIAwAssEE
CITY OF OwoSSo REFUNDING BONDS
No. 100000
BE 1T KNOWN that the City of Owosso, in
the County of Shiawassee and State of Mich
iran acknowledges itself to owe, and for
value received hereby promises to pay to
bearer One Thousand Dollars, in lawful
money of the United state. on the second Gay
OF March, A. u. 1919. u920. 1871, 1922, 1928,
1924 1925. i926) together win In
terest thereon from the date hereof at the
rate of five per cent per annum, payable
semi annually on the 2ud day tf March and
Sep ember Ia EACH year on present tion ana
surrender of the annexed interest coupons els
they severay become due, both principal and
interest PAYABLE at the Ctizens' Savings Bank
of the Citv OF Uwosso, STATE
of Michigan, and for the prompt payment of
the principal and interest of this bond at
maturity. out Of the Interest and Sinking
of said City are hereby pledged
This bond is one of a series Of fifteen bonds
of like date and tenor issued for the purpose
of refunding and extending the time OF pay
of Owosso, represented by outstanding bonds
of like amount, and is issued under and in
pursuance of the Charter of the City of
by the electors of said City at an election held
November s, 1918, and amendments thereto
lawfully adopted.
Il is hereby certified and recited that all
acts, conditions and things required TO lie
done and to exist precedent to and in the
issuance of this series of bonds have been
done and exist in due form and time as re-
quired by law, that the indebtedness OF said
City, including this issue of bonds, is not
in excess of any constitutional. statutory or
charter limitation, and that the indebtedness
of said City is not increased by the issue
hereof, and that the former bonds of said
City, the time of payment Of which which,. Is
hereby extended, and are an existing.
valid and binding obligation Of said City.
IN WITNESS WHEREOF the City of
Owosso has caused its corporate seal to be
hereto affixed and these presents to be signed
by its Mayor and City Clerk. In its behalf
as OF the and day of March. .9iS.
Crrv OF owossO