08/20/1918 Board of Public Works Minutes

Home Browse Search

280 WHEREAS* its appears that the Amount chargeable to and payable to by said Railway Company by reason of said improvement amountd to the total sum of Six Thousand Thirty six and 62f 100(06, 036.62) Dollars with interest from_ the Be venth day of August ,1918 to the first day of December,1918; NOW THEREFORE, BE.IT RESOLVED, that ten bouds,be.issued in accord- ancewith the powers vested in said City by virtue of the provisions of said Act o the first of which bonds shall be In the sum of Six hundred four and 22k1O0 ($604. 22) Dollars, due November first, 1918, with interest evidenced by coupon attached to said bond onthe total east of said improvement, to -wit: --Six Thousand thirty six and 621100 - ($6036.62) Dollars from the 7th,mday of August .1917, to the -first day of December,1918, said interest being in the sum of One Hundred three and. 631100 ($103 63) Dollars. And the balance of which said bonds shall be due and payable respectively one (1) two (2) Three (3). Four (4) , five(5), six (6), seven(7) Eight °(8) and nine (9) y6ars after the said first day of. November ,1918 and each of said bonds (except said first bond) shall be in the sum of Six hundred three and 6glOO ($603.60) Dollars, end all said bonds shall be nymbered consecutively from o one to ten inclusive; and all of said. bonds (except the first thereof) shall have coupons attached evidencing the interest payable on said bonds, which interest shall be at the rate of Six (6,%) per cent per annum from the first day of December 1918, payable semi annually on presentatidn and surrender of the coupons as they severally mature,and the coupons of each bond shall be in the amount of the interest due semi annually on the unpaid balance of the total prinicipal sum of of all said bonds. Said bonds shall be payable in (awful money of the United States with- out relief from valuation and appraisement laws.,and attorneys' fees. Said bonds shall have the time priority over other liens as have assessments for other street improvements and shall be a f irst lien on all the property, assets and franchises of said Railway Company in the mariner and to the extent provided by law, Adopted by the City of South. Bend, this 20th., day of August. 1918. GILBERT A. ELLQTT JOHN F. DEHAVEN Board of Public Works of the City of South .Bend, Indiana. Accepted by the stockholders of the Chicago, South Bend & Northern Indiana Railway Company this day of August 1918. S. T. MURDOCK Sectetary, The above action of the part of the stockholders of the Chicago,South Bend & Northern Indiana Railway Company has been authorized at their meeting on the seventh day of February,1917 and such action of the stockholders was ratified by the directors at said company at their meeting held on the twenty first day of May 1918. Ropy of the minutes of said directors on file in the office of the Board.