The Belding banner-news. (Belding, Mich.) 1918-1973, 1920-09-08

er0I laws OF the 4J0te. r.
Financial Provisions
Section IS. The tiacal.year of the
city shall begin January LIST Of each
| year.
Section 81. All property. either
real or personal, belonging to the
city, shall be carried in the name Of
the city Of Belding.
| The estimate.
Section 68. Not later than De-
cember 1st Of each year. the city
clerk shall submit to the city council
| an estimate Of the contemplated ex-
| penditures for the ensuing year, to-
gether with the estimated revenues
! for that year and such other informa-
| ton as the city council may require.
| Appropriation resolution.
| Section 50. On or before February
1st Of each year, the city council
shall take up, consider and pass, an
annual appropriation ordinance to
cover the expenditures for the ensu-
ing year.
Receipts.
Section 20. All moneys due, owing
or to be paid to the city shall be
paid to the city treasurer except as
herein otherwise provided.
Money not to be transferred from
one fund to another.
Section II. All money and taxes,
raised, loaned or appropriated for
the purpose Of any particular fund
shall be paid in and credited to such
fund and shall be applied only to the
purpose for which they were raised
and received. Moneys not received
or appropriated for any particular
fund shall be credited to the general
fund; money belonging to one fund
shall not be transferred to any other
fund, but any unused balances there
of shall revert into the general fund
at the close of the fiscal year. No
money shall. at any time, be trans
ferred from the cemetery trust fund
and sinking fund to any other fund.
Payments.
Section ". Payments by the city
shall be made only upon vouchers,
certified to by the head of the APP
propriate department or other divi-
sion of the city government and by
means of warrants on the city treas
urer, issued by the city clerk and
countersigned by the mayor.
Auditing.
Section 73. The council, shall, by
ordinance, provide for an adequate,
annual audit Of all books and ac-
counts relating to the finances of the
city, by certified public accountant
or other competent authority, who
shall render q signed report thereof
to the council.
Bonding
Limit.
Section "a. The bonded indebted
ness of the city shall not at any time
exceed five per cent $50 of the
real and personal property there ex-
elusive of the sinking fund and OF
bonds issued for public improve
ments in connection with which a
special assessment lis made to pay
therefor and which are charge on
such district. according to the assess
ed valuation thereof, unless such
limit shall be raised or lowered by
three-ffths $3.50 vote of the cleo
tors voting on the question at reg
ular or special election.
Vote required.
Section as. No bonds of the city,
other than emergency bonds, refund
ing bonds, special assessment bonds
and bonds that it is annually author
lied to pay, shall be issued unless
first approved by three-fifths (3-5)
vote of the electors voting thereon at
q general or special election, pro-
vided, however, that bonds outstand-
ing at the time this charter goes into
effect may be refunded by vote of
the council.
Bonds to be issued serially.
Section rs. All bonds of the city
shall be issued serially except as
otherwise provided in this charter
and the term of no bond shall exceed
the estimated life Of the improve
ment for which it shall be issued;
provided, that no bond shall run for |
a longer period than thirty 900 |
years. Payment of each issue of |
bonds, shall be provided for serially |
in such manner that the allotted |
The whole amount of interest then
due, shall amount to approximately
an equal sum each year of the life of |
in case such allotment shall produce
marked inequalities. in amounts, con-
previous issues of bonds,
ouSh diiouuts may VIC OtntTWiSt us
tributed so as to secure equality but
in no case to. prolong the life of the
bond beyond thirty (30) years.
Denomination of bonds.
Section ~. Bonds hereinafter. is
sued by the city may be issued in
denominations of twenty-five dollars
($25.00) or multiples thereof. All
bonds shall be signed by the mayor
and clerk.
Proceeds to be used for the pur-
pose for which issued.
Section IS. The proceeds of any
bond issue shall be paid to the city
treasurer, and credited to the fund
Tor which they were issued, and shall
not be used for any other purpose.
Council may borrow in anticipa-
ion Of assessments.
Section 70. If necessary to meet
he ordinary running expenses of the
,ity as provided for in the budget
he city council may morrow money
n anticipation of taxes to be collect
N r,oxro h1o not 1oto~ I'M