The diamond drill., 1921-07-16

ton, held this day In the Secretary
ONCE In Amasa, Michigan. al 7:s0 a.
clock. p. NJ
Dated May IA. 1921
J.T GIBSON.
Fl ]. THOMPSON.
WILLIAM BURGE.
ABRAHAM GILL.
IyER OLSON.
The following resolution was intro
uuced by VIM. Burge who moved its
adoption:
WHEREAS. Il appears to the Board
or Education OF School District No
OF the Township OF Hematite. Iron Co
Michigan, In special meeting dulv
and lawfully assembled. that II has
not on hand sufficient funds 10 com
piete and furnish new school build-
ing now being erected. that sufIiclen,
moneys cannot be raised by taxation
and that the said school building
should be Immediately completed. and
WHEREAS. the said Board OF Edu-
cation does hereby determine that Il
Is necessary that the said School Dis
trict borrow the sum OF Seventy
Eight Thousand ($7S.000) Dollars and
issue bonds of the School District
therefor. TO complete and furnish said
new school building. and
WHEREAS. II Is further determin-
ed that said amount OF Seventy Eight
Thousand ls7S.000) Dollars for the
purpose aforesaid be expended al
once or as soon thereafter as may be.
WHEREAS, said school district has
not the funds on hand to pay for such
completion and furnishing OF said
school building and said school dis
trict is prohibited by law from rails
ing and appropriating any otherETA
ing and appropriating any further
sums of money for such purposes by
general taxation. during the present
fiscal year. and
WHEREAS. provision has been made
by law whereby any school district
may by majority vote OF the qualified
voters OF said school district, present
at the annual meeting or at a special
meeting, called for that purpose, bor-
row money and issue bonds OF the
school district, threfor TO pay for a
school house site or sites and TO erect
and furnish school buildings, provided
that no school district shall issue
bonds for an amount greater than 1870
OF the total assessed valuation of said
district. nor that the bonded indebt-
edness OF said school district extends
beyond the period OF thirty years for
money borrowed
NOW THEREFORE BE 1T RESOL.
WE'D. by said Board OF Education, duly
and lawfully assembled In a special
meeting as aforesaid that IL Is the best
judgement of said board of education
apd said board OF education does here
by estimate that Il Is necessary 10
raise the sum OF Seventy Eight Thous-
and (S7S,000) Dollars for the purposes
aforesaid, and TO issue therefor. bonds
OF the said school district for period
not TO exceed thirty years. In the dis
cretion OF said board OF education, and
to bear interest at the rate OF SO per
anum.
1T is FURTHER RESOLVED. that
In accordance with the provisions OF
law special meeting OF school dis
trict No. 1, OF the Township OF Hema-
tite, be held in the Town Hall. at
Amasa. In said Township, on the 2lst
day of May, A. d. 1921. at 800 O'clock
p. NJ. That due notice OF special
meeting be given as required by law:
that the polls remain open on said day
from 800 o'clock p NJ. 10 100 o'clock
p Nj. and that al said special meeting
OF said school district the proposition
TO borrow the said sum OF Seventy
Eight Thousand Cs7S.0O0) Dollars and
TO issue therefor the bonds OF the said
school district TO be submitted to a
vote of the qualified voters OF said dis
tIict. The adoption OF the above res-
was seconded by liver Olson
and on motion a vote by ayes and nays
was taken as folows: j. +. Gibson.
yes: John Thompson yes, VIM. Burge
yes; Abraham Gil. yes; Ivar Olson.
yes. Nays, none. Whereupon said
resolution was declared duly adopted
and ordered spread upon the records.
Upon motion duly seconded and un-
animously carried the president in
structed the secretary TO post notices
Of said special election as required by
law.
No further business appearing the
meeting was upon motion duly ad-
Iourned
J. r. GIBSON. President.
J. r. THOMPSON. Sec,