Norwich bulletin., 1922-04-26
AUTHORIZED BIG IMPROVEMENTS AT
 FAIR GROUNDS AT EAST GREAT PLAIN

empowered to carry through the entire project to completion.
 We are of course unable to give any definite figures as to the cost of tn.s new work at this time. The treasurer has in his hands today the sum of S4,e0O, and the finance committee are ready if this report is approveds to rec ommend bond issue of $25,0 900, to fin ance this work.
 We recommend the passage of three resolutions.
 (a)-To authorize the purchase of land shown by blue print
 (b)-To authorize the building com mittee to have plans and specifications prepared, submit same for bids and to carry through the entire project to com. pletion.
 (c)-To authorize the fnanbe com mittee to take all necessary teps to is- sue first mortgage bonds to the amount of s25,0oo
 Dan D. Home of Montville offered a resolution authorizing the purchase Of the lot lying southerly and adjoining the fair grounds, from Elmer R. Pierson. The resolution was adopted as presented.
 c. K Bailey offered a resolution ap- proving the proposed improvements and authorizing the building committee to proceed with the Improvements. This resolution was also adopted.
 Elmer R. Pierson, A. J. Bailey and c. D. Greenman, the finance committee, submitted their report and it was accept ed. The report was as follows:
 To the Life Members
 The undersigned members of the nn- ance committee duly appointed on Jan uary 5. 1922, by the executive commit tee to nave general supervision of all large expenditures and raising of funds to pay for the proposed improvements at the Fair Grounds desire to report that they have made 8 thorough investiga- tion of the subject and submit the fol- lowings recommendations: ] Tn order to pay for the improve ments as sLs gested by the building com mittee of the society we would reconL mend that this meeting approve of an issue of first mortgage 15 year gold bonds to raise the sum of s25,000. Said bonds being secured by first mortgag ge lien on all the lan1 and buildings of the socie-y 1T irc,uding the land to be pur- ,hase,.
 Sad bonds to be as follows: Ten 1 bonds at .S1000. $10.000 20 bonds at
 $500. s1O.oOO. 50 bonds at s1OO. s5.ooo, 1 to be dated June 1st. 1922, and to bear interest at the rate Of six per cert. per 1 annum, payable semi-annuauy on the 1 first days of April and October. Said l bonds to be due 15 years from June 1, 1924 by drawing.
 3-Said bonds to be secured by fire 1 insurance on all of the buildings on the property to be morteaged. The annual interest charge would be S1,50O, at first | 4-The title to said real estate to be searched and all legal fornalities ap- proved by the attorneys for the society and said bonds are to be sold to tF-t 1 life members. So far as possible, and i by advertising in the loca. newspapers 1 and personal solicitation of the officers
 of the society and no commissions are i to be paid for selling.
 l C. c. Avery of New London presented 1 a resolution authorizing the issue of first mortgage bonds. 15 year. six per cent. tc /, the amount of $25, ,000 to provide the nee essary money for the improvements. The resolution was adopted. During the meeting subscriptions to the amount of $6,o00 were received for the bond issue