[No. 254.] AN ACT to legalize the floating indebtedness of the village of Algonac, to the amount of four thousand dollars, heretofore incurred in the construction of a village water-works plant, and to authorize the council of said village to issue the bonds of said village for the purpose of funding and paying off said indebtedness. The People of the State of Michigan enact: bonds, SECTION 1. That the floating indebtedness heretofore in- Indebtedness legalized. curred by the village of Algonac, in St. Clair county, in and about the construction of a water-works plant, in and for said village, to the amount of four thousand dollars, be and the same is hereby legalized and declared to be a binding indebtendess upon said village, and the council of said village, in accordance with more than a two-thirds vote of the electors of said village, voting at a special election held therein on November thirteenth, A. D. nineteen hundred, is hereby authorized to issue the negotiable bonds of said village to the May issue amount of four thousand dollars, bearing interest at a rate amount, not exceeding five per cent. per annum, and due and payable interest, etc. not more than thirty years after date, for the purpose of funding and paying off the outstanding indebtedness of said village hereinabove legalized and validated; and when said funding bonds to the amount of four thousand dollars executed in such form and in such denomination as the council of said village may direct, are issued and delivered for value, they shall be and are hereby made and declared to be valid and binding obligations of said village of Algonac. This act is ordered to take immediate effect. Approved January 22, 1901. [No. 255.] AN ACT to legalize the floating indebtedness of the village of Algonac, to the amount of four thousand dollars, heretofore incurred in the construction of a village electric light plant, and to authorize the council of said village to issue the bonds of said village for the purpose of funding and paying off said indebtedness. The People of the State of Michigan enact: SECTION 1. That the floating indebtedness heretofore in- Indebtedness curred by the village of Algonac, in St. Clair county, in and legalized. about the construction of an electric light plant in and for said village, to the amount of four thousand dollars, be and May issue bonds, amount, interest, etc. the same is hereby legalized and declared to be a binding Section amended. May call special meeting, purpose of. [No. 256.] AN ACT to amend section one of an act approved January twelve, nineteen hundred one, entitled "An act authorizing the board of trustees of the public schools of the village of Addison, an incorporated school district, to call a meeting of the qualified electors of said school district for the purpose of selecting and changing sites and building school houses for said district." The People of the State of Michigan enact: (a) SECTION 1. That section one of an act approved January twelve, nineteen hundred one, entitled "An act authorizing the board of trustees of the public schools of the village of Addison, an incorporated school district, to call a meeting of the qualified electors of said school district for the purpose of selecting and changing sites and building school houses for said district," be and the same is hereby amended so as to read as follows: SECTION 1. That the board of trustees of the public schools of the village of Addison, a school district incorporated by act number two hundred seventy of the local acts of eighteen hundred ninety-three, is hereby authorized to call a special (a) This act amends Section 1 of Local Act No. 244. meeting of the qualified electors of said district, at any time This act is ordered to take immediate effect. [No. 257.] AN ACT to authorize the village of Laurium, in the county of Houghton, State of Michigan, to borrow money and issue bonds therefor to the amount of one hundred thousand dollars for the purpose of constructing and improving streets and sewers. The People of the State of Michigan enact: amount, SECTION 1. That the village council of the village of May issue Laurium, county of Houghton, State of Michigan, be and bonds, hereby is authorized and empowered to borrow on the faith interest, etc. and credit of said village a sum or sums of money not to exceed in the aggregate the sum of one hundred thousand dollars, for any term or terms of years not less than ten nor more than thirty, at a rate of interest not exceeding six per cent. per annum, payable semi-annually; and to execute and issue the coupon bonds of said village therefor in such form and in such amounts and payable at such times within the foregoing limits as the said council may by a two-thirds vote of all the members elect determine; and to provide for the Not to be payment of the same, and for the payment of the interest disposed of for upon the same, which bonds shall in no case be disposed of for less than their par value, and shall be payable at such place or places as such council shall direct. less than par. expended. SEC. 2. All money borrowed under the provisions of this Moneys, how act shall be used for the purposes of constructing and improving sewers and paving, grading and otherwise improving the streets of said village to such amounts and under such rules and regulations as said council shall prescribe. SEC. 3. It shall be the duty of said council to provide by Tax levy for tax upon the taxable property or from any fund it may have payment of. and not otherwise appropriated, for the said sum of one hundred thousand dollars or for any sum or sums of money borrowed under the provisions hereof, and interest upon any and all bonds issued under authority of this act as they may become due and they are hereby expressly authorized so to Proviso. do: Provided, That no bonds shall be issued or money bor- This act is ordered to take immediate effect. May issue bonds, amount, interest, etc. Question to be submitted to electors. Form of ballot. [No. 258.] AN ACT to authorize the township of South Arm, in Charlevoix county, to borrow money to be used in rebuilding a swing bridge and approaches thereto in said township and to issue bonds therefor. The People of the State of Michigan enact: SECTION 1. That the township board of the township of South Arm, in Charlevoix county, be and is hereby authorized and empowered to borrow on the faith and credit of said township not to exceed the sum of five thousand dollars, which is to be due and payable within ten years from the date of said loan, at a rate of interest not exceeding five per cent. per annum, and to execute coupon bonds of said township therefor in such form as said board shall determine, which bonds shall in no case be disposed of for a sum less than their par value. SEC. 2. Such money shall not be borrowed, nor such bonds issued, unless a majority of the qualified electors of said township, voting at a special election to be called for the purpose of voting on said loan, shall so determine, and said township board is hereby authorized and empowered to call a special election for the purpose of submitting the question of said loan to the qualified electors of said township, giving due notice thereof, by causing the date, the place of voting and object of said election to be stated in printed or written notices in six public places in said township, not less than six days before said election, which notice shall state the sum of money proposed to be borrowed, The vote upon such proposition shall be by ballot, either written or printed, or partly written and partly printed. Ballots in favor of such proposition shall be in the following words: "For issuing township bonds-Yes"; and the ballot against the same shall be in the following words: "For issuing township bonds-No"; and it shall be the duty of said canvassed. township board to provide at the polls of such election durthe whole time while the same shall be open, a sufficient number of said ballots both for and against such proposi tion as shall be necessary to supply all the electors desiring to vote thereon; the election shall be conducted and the votes Votes, how canvassed in all respects as in any other township election, and immediately upon the conclusion of such canvass, the inspectors of the election shall make and sign a certificate showing the whole number of votes cast upon such proposition, and the number for and against the same respectively, and said inspectors shall endorse upon such certificate and declaration in writing of the result of such election, which said certificate and declaration shall then be filed with the clerk of said township, and a copy of said certificate and declaration certified to by said township clerk shall be filed by him with the county clerk of the said county of Charlevoix. expended. SEC. 4. Any money borrowed under the provisions of this Moneys, how act shall be expended in rebuilding the swing bridge across the south arm of Pine lake connecting the villages of South Arm and East Jordan, in said township of South Arm; and in case of the issue of such bonds, it shall be the duty of the supervisor of said township to assess and the treasurer of said township to collect in each year thereafter, in addition to all other taxes authorized by law to be assessed and col· lected in said township, an amount sufficient to pay all interest upon such bonds accruing and becoming payable thereon, and also any installments of the principal thereof falling due in any such year, and the said interest shall be paid by said treasurer after the same shall become due, on présenta tation to him of the proper coupons, and the said principal shall be payable by said treasurer after the same shall be come due, on proper presentation to him of the proper bonds. This act is ordered to take immediate effect. Approved January 22, 1901. [No. 259.] AN ACT to change the name of Bartholomew Jano to The People of the State of Michigan enact: SECTION 1. That the name of Bartholomew Jano be and Name hereby is changed to Bartholomew Milano. This act is ordered to take immediate effect. changed. |