The Belding banner-news. (Belding, Mich.) 1918-1973, 1921-08-03

m. local time, of the 4th day of Aug
ust, A. d. 1921, for performing the
work and labor of excavating and
constructing the trunk line sewer on
the north side of Flat River in the
City Of Bedding in accordance with
the plans, profiles, specifications and
diagrams thereof on file in the office
of the City Clerk. The City Council
reserves the right to reject any and
all bids. No bid will be considered
unless accompanied by certified
check, draft or certificate of deposit
in the amount of at least per cent
Of the bid. The money to be forfeit
ed to the city in the event the sue
cessful bidder refuses or neglects to
enter into contract in accordance
Herewith. Parties to whom the con-
tract is awarded will be required to
enter into bond running to the city
with suret es to be approved by the
City Council in the amount of at
least 25 per cent Of the sum bid. Such
moneys to be forfeited to the city in
the event the contract is not properly
performed.
C. S. HOOVER,
City Clerk.
Moved by Aid. Friedly, seconded
by Aid. McCue, that the resolution
be accepted and adopted.
Yeas-Ald. Benedict, Kane. Friedly
McCue, and Washburn. Yeas 8.
Nays o.
The following resolution was Of
fered by Aid. McCue, moved by Aid.
McCue, seconded by AID Friedly that
the resolution be accepted and adopt
ed.
Yeas-Ald Benedict, Kane. F'riedly
McCue. and Washburn. Yeas 5.
Nays 0.
Whereas. it was heretofore deter
mined by the common council and a
vote of the electors of the city Of
Belding to borrow the sum of thirty
thousand dollars ($30000.00) and
issue bonds of the city therefore
drawing interest at not to exceed 6
per cent per annum; such sums of
money to be used to pay the city's
portion of the expenses of grading.
paving and curbing the state road
in the city of Bedding from the city
limits on the east to the city limits
on he west, and also West Ellis Ave.
from the west line on north Bridge
street west TO the city limits, in ac-
cordance with the statue in such cas-
es made and provided and.
Whereas. the said highway depart
ment is about to let the contract for
paving. grading, curbing and other
wise improving west Ellis Avenue as
above mentioned and it is necessary
for the city to borrow the sum of ten
thousand dollars (S10000.00) and to
issue the bonds of the city therefor
to defray the city's portion of the
exnense of such public improvement.
Now, therefore. be it resolved that
the city council hereby authorises to
borrcw the sum of ten thousand dol
lars $4,000 00) and the issuance of
bonds in the sum of ten thousand dol
lars (S10000.00) pledging the faith
and credit of the city of Be'ding
therefore said bonds TO draw inter
est at not to exceed per cent per
annum. PAYABLE semi-annually from
and after the first day of September
A. ID. 1921. principal and interest
payable at the office of the citv Treas
urer in the city of Belding. Michigan.
And il be further resolved that the
principal sum of 100000 shall be
payable as follows: 100000 Sent.
/. 1926 and 100000 Sept /. 1923.
The said bonds shall be dated Sen
TENDER l. A. D. 1921. The bonds shall
be in the denomination of $4,000 and
shall be in substantially the following
form:
UNITED STATES OF AMERICA