The Marietta journal. (Marietta, Ga.) 1918-1944, 1920-10-22
The City Indebtedness
Some Interesting Recorded Facts
From Court and Council Files

the notes have been
the Frank scarboro Company
uesed that reprint the article last week and explain
the original
The article published last follows
The Policy give concerning the
city and affairs In of this policy The Journal
given Frank scabo Company for $48oOOoO which
city being sued Our readers will there
some $42 00O00 also in suit
following resolution adopted Navor and Council
November q, 1918.
Minutes
1918 After discussing $40 900 indebtedness Frank scabo
$1,000 owed hv tho oenera fnnd r will j. b h ~ nov % +h tho
interest the
public there available cash the
the holders
that the
these funds can then be applied to this $4,000 loan
Therefore, be resolved that all of the above $4,000 general fund.-
paving property
fund.- Council
follows for $4,000 each the $48OO which will be
December 3 1913 these Frank scarbo Company
for the and lieu of the old falling December
3s, 1918. Motion carried"
resolution quoted square paving Atlanta
property holder fund Legally there such thing
paving any other paving fund
After passing the above resolution the following resolution
adopted.
or the purpose of carrying out said adopted notion the following
resolution motion of Mr. Wallace seconded by Mr. Robertson
estate of Georgia. The City of Observation-Disclosures there is
temporary
Marietta, and
Whereas. a temporary
expenses of the City Government
therefor be t Resolved:
First That to temporary deficiency
hereby authorize
of the of Marietta negotiate
temporary loan for the Of $48oOO for the City upon the
possible said to be made with Bank Bankers
Company hereby said
payable the day March, 1919
resolution be the minutes of the Board
the regular held the 21st day of November 1918
provided renewal
the 100000 Indebtedness which 48 100000 indebted
referred and
deficiency the of the city We below
copy of the issued
We give below copy of the
Georgia Marietta, Ga November
Marietta, Georgia for value received,
promises order National Bank
New York. N Y, the of Six Thousand Dollars
$6OoOOO with all of coec
ton, including ten cent attorneys fees
pursuance by the
November 21st 918 and duly signed
by the Mayor and Clerk of said City, as required by law
hereby certified and recd that each act condition
thing required happened precedent
has been DONE has happened and has
t. 1i+ ihd NV low ond tho faith and credit Of the Cv of
hereby the punua of the
and interest of this note according to its terms
Whereof Georgia. has caused its
and Treasurer the
affixed and atested by the Clerk of the Board
this wentyfrst day Of November,
City of Marietta, Georgia
Attest: By Jim Brumby Mayor.
City of Marietta By Hugh A. Hill, Treasurer
SEAL By J. DaneI Chairman ofFmance
(sEALJ Clarence E. Power Clerk.
The Merchants Farmer Bank hereby certifes
the
FARMERS BANK,
E. G.. Gurey Cashier
Incorporated 1911
Ga
OPINION
To Whom Concern:
Marietta
November 1918 Thou
1919 advise opinion
valid and binding obligation of the said City of Marietta
Georgia GORDON b. GAM
Attorney the City of Marietta, Georgia.
In accordance with resolution eight notes for $6OOOOO
each issued and made payable to Frank oarooro OSms
sold by Frank Scaboro Company to the National