The Owosso times. (Owosso, Mich.) 1897-1926, 1921-07-29

The following Resolution was presented ans
read to the Commission, and on motion OF Com
missioner Roseyear same was adopted ayes
| Rosevear Stebbins and Wright:
Resol ltion No. 80
! Whereas, the Commission of the City OF
| Owosso did, by resolution duly passed on the
9th day OF June, 1921, declare an existing
eminent and impending danger within the
meaning of Section ID, OF Chapter II. OF the
| Corunna Avenue from Washington Street 10
| the easterly city limits, on each side OF the
pavement being constructed by the state High
way Department on said Corunna Avenue, and
| that necessity arose therefrom for the con-
| struction OF u rip OF pavement four and one
| half 4H) fet wide on each side OF the said
pavement so constructed by the State Highway
Department, for which adequate provision had
| not been made in the annual appropriation bill
for the current year, and did therefore order
said pavement to be built and did, by virtue of
the authority granted by said chapter and sec
tion authorize the Mayor to raise by loan the
amount MT IN excess or Five Thousand Dol
lars $3.50 90 }, necessary for the payment o. the
Cty's PORTION of the cost OF such additional
pavement; now, therefore,
Resolved by the Commission Of the City of
Owosso that the Mayor and City Clerk are
hereby authorized and directed to issue for the
purpose of effecting the loan Of the sum Of Five
Thousand Dollars (s50 O.UO), for the said i'm
pending necessity OF paving as aforesaid on
Corunna Avenue, the bonds OF the City CT
| number, and TO be numbered serially from | to
| s. to be each OF the denomination of One Thou
sand Dollars $1,000 00), to be dated the 18th day
| OF August 1921, and to become due and payable
on the Is day OF August. 1923, and to bear
! interest at the rate OF six per cent per aunum,
payable semi-annua ly. on the 18th days of
February and August In each year. on the pre-
| sentation NJ the proper interest coupons at
tached to each bon I, both principal and inter-
est OF said bonds TO be payable at the office OF
, the City Treasurer of Owosso, Michigan, the
hands n
| tally as follows:
STATE OF MICHIGAN
COUNTY OF sHIAwAssEE
, Mol CITY OF OwoSSO $1,000
Corunna Avenue Pavement Bonds
KNOW ALL MEN BY these presents, that
the City of Owosso, in the County of Shiawas
, ration, hereby acknowledges itself justly
indebted, and for value received promises TO
pay to the bearer rel the sum OF One Thousand
States Of America on the 18th day Of August,
1923, ut the office OF the City Treasurer, Owosso,
Michigan, with interest from the date hereof
until paid at the rate OF six per cent per
, annum, payable semiannually on the 18th days
Of February and August in each and every
year from the date hereof on presentation
and surrender OF the proper interest coupons
attached hereto as they shall severally become
due.
This bond Is one OF five bonds OF like date
! and tenor except as to date OF maturity, issued
by authority of the Commission of the City of
Owosso, Michigan for the purpose OF providing
a part Of the funds TO pay the Citys portion OF
the cost and expense OF constructing concrete
pavement four and one half feet wide on each
side OF a concrete pavement laid by the State
Highway Department OF Michigan on said
avenue from washington street to the easterly
. city limits, and known as state Trunk Line
Road No, 2l-l0, Section b., and is payable out
OF the general funds of the City of Owosso, and
is hereby declared to be tax-exempt under the
laws OF the State Of Michigan.
1t is hereby recited, certified and declared
that all acts conditions and things required by
the Constitution and laws ofthe State Of Mch-
gah, and Charter OF the City Of Owosso to exist
happen and be performed precedent TO and in
the issuance OF this bond, have existed, hap
pened and been performed IN regular and due
time, manner and form as required by law; and
for the prompt payment Of the principal and
interest OF this bond when due the full faith,
credit and resources of the City Of Owosso are
hereby irrevocally pledged; and 1t is further
recited and declared that the total Indebted
ness OF the City Of Owosso' including this bond
and the series OF which IL forms part, does
not exceed any constitutional, statutory or
charter limitation.
IN WITNESS WHEREOF the Commission
OF the City OF Owosso have caused this bond to
be signed by the Mayor and countersigned by
the Clerk OF said city, and the corporate seal OF
said city to be hereto affixed, and the interest
the printed fac SMILES Of the signatures Of the
said Mayor and Clerk, on this 18th day OF Au-
gust, 1921.
CITY OF owOSSo
by..... .........'
Mayor
Countersigned