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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - September 23, 1916, Lethbridge, Alberta ISAT.linDAY. SEPTEMBER 23. 191ft 'TUB UCTHBIiinnE DAILY HERALD PAGK SEVEN: CITY bF LETHBDGE Food, Clothes, Laundry and Even Tobacco to Go Higher A By-Liiw of tlie City oILeUibriage to I'rovirte for the Borrowing Upon Debentures the SIHHN Nec- essary to Pay for the Extennio'ns Made to the Electrical System Power Plant in the City-of Lethbridge, and for Making-Further Extensions to the. Said Electrical laglrt System. Montreal in London. England, or at (he chief office of the said bank in the City of Toronto, the Ulty of Montreal or the City of Lethbridge In the Dom- inion of Canada or at the chief office of the salii bank in tho City of New Yorlt in tlie Slate ot New York In tlie United States of America, oruny other place or places in Canada, Great Brit- ain or the United States as the Council nay by resolution direct, and such de- jentnres may contain any clause pro- for the registration thereof and authorized by the Lethbridge City Charter. 3 That the said debentures nhi'.ll be sealed-with: the seal of the City of Letlihrldge and signed by tlie "Wor und the City Clerk, and coupons shall he signed by the City Clerk, and the signatures of the coupons may be lithographed or engraved. I la addition to all other amounts, there shall bo levied and collected in each year for twenty (20) years during the currency of the naid debentures on all the ratoeblc- property ot the City of Lethbridge by special rate or rates sufficient therefor, the following sums for the paying of the interest on and for forming a sinking fund for the debt created ip respect of each of the different proppsitions respectively: WHEREAS It has been ostimated that it'will be neccsa'ary to borrow amounts for. the different works as hereinafter set. forth, AND WHBIVEAS it is necessary to borrow on debentures such stuns as are required to pay for the cornple- aii'ce "for discount on the sale of deben- tures bearing a reasonable rate of in- terest and tlie necessary expenses in connection with the issue and sale thereof, AND WHEREAS it Is expedient to borrow the several sums required for the purposes hereinafter mentioned on the credit of tha City of l.othbridgo and to issue debentures therefor pay- able in .'0 years from the date of Is- sue thereof bearing interest at tlie rate of f> per centum per annum pay- able halt yearly, AND WHEREAS it Is desirable that the By-Laws fur tho several purposes hereinafter mentioned may be incor- porated in ,one by-law, AND WHEREAS the amount of the loan required for each of tlie works hereinafter- mentioned' and the amounts required to be raised unnunl- ly to pay the Interest and provide a sinking fund for the 'payment of the debt herein set forth in tho following propositions: Proposition "A" (1) Tor moneys already expended in the extension of the electrical light system In Ihfc City of Lethbridge. (2) The amount of the loan requir- ed to pay for such work, fH376.6G. sum to annually to pay the Interest 1488.75. 'The sum lo be raised annually to provide'a sinking fund to pay tho Total amount to be raised annually, J817.68. Proposition "B" (1} For the pul'pose of paying for the extension of an ash flue at the electrical power house already con- structed: (2) The amount of loan required to pay tor tho same, The sum to be raised annually 'to' pay.the Interest, 150.110. (4) The sum to be raised annually a pay.the. Total amount to be raised annually, 4S7.22. Proposition "C" (1) -For the purpose of extending the electrical in tlie City of Letbbrideo. (2) to do such work, J8.700 00. The sum to be raised annually to pay the interest. (4) The sum'to he raised annually to provide a sinking fund to pay the debt, J249.35. Total amount to be raised annually, AND "WHBHBAS the amount of the assessable .property of the city of liSthbridfe according, to the last, re- viscd assessment roll Is rateable proportion thereof is ..i AND WHEREAS the amount of. the debt or the L'elhbridge.: 'exclusive of local im- debts secured by special assessment is and no part of the principal or Interest there- of Is In arrears, "Now Therefore the City Council of the City of Lethbrldlf, eniet as fojjowv: 1. The Council may .borrow on the credit of the City ot Lsthbrldge the sum or sums of money required for any or all .of the propositions herein- before referred to, namely: Proposition "A" the sum of Proposition "B" the sum of Proposition "C" the sum of 2. That debentures of the City of Lethbridge shall be Issued for the eum or sums to be borrowed in one consecutive. Issue in such sums as may be deemed expedient, and shall have coupons attached thereto for the payment of interest and said tures shallal! bear the same da'te and shall be dated and issued within two years after tbe final passing of this and be payable at the cxpir atipn of twenty (20) years (rbra'.the date of tho issue thereof. Such deben- tures may be expressed either., in Can- adian currency or sterling money or boihr in 'currency and sterling money of equivalent value as prov.ded by the Currency Act, as the. Council may lly resolution direct, and nhall bear inter- at the rate of five per centum per annum payable half and as to both" principal and interest may he made payable at the Bank of _ Proposition aura of shall be raised annually to pay the interest and the sum of shall he raised annually to' provide a sink- ing fund to pay tbe debt. Proposition sum ot JoO.OO shall be raised annually to pay the In- terest and thS sum of shall be raised annually to provide a sinking timd to pay the debt. Proposition sum of J335.00 shall be raised annually to pay the in- terest and the sum of shall be raised annually 'to provide a sinking fund to pay the debt. The Jla'ypr shall'attend at his office in the' City of I.ethbrldge .at 0 00 o'clock In the forenoon on the 10th T5ay-of October. A.D.. 191S, and f renuesteii shall appoint, two persons to attend-.at the.final summing of he votes and', one.person to" attend at each polling''place on behalf of the lersons, interested in promoting the lassiug of this Byilaw anil a like num- jer on behalf'Of the persons Interest- ed In opposing the passing of this jy-law. 6 The City Clerk shall at his office n the City oK Lethbridge on the 18th day of October, 1916, at the hour of VP 00 o'cloclt In the forenoon, sum up u o ter and against the by-law, 7. This take oftcct on the day of the', final passing thereof. S Tlie votes of tile burgesses duly quaiified-to vote on this by-law shall be taken on tha day of October AD fqv.owing. places in the'City of feetubfjdge betwefn the hours o'f the toreuoon and 800 o'cldck In the namely: itrtke5IB.J cait Ir'aii' removahfe Ueads. Tbtriiio- iTphoa coolihK. two unit sUrttm I Cganeftkut buttery ijmtion. 12 inch cone clutcU. Tfcrec f tttti rf trans- Miuibn joint. CBIO- line fBdls under cowl. '1 beum Htavv liulv front aik ti float- -iairear.ull! with Hyatt lO.-infcb oil eilcrnai hmiits. front 37 Tncltts elliptic, rear Afl full hanrt drive. 16 In. type ItecniiK whtel. CeVrithitt coutnil. Emergency ifjht: Spark and tbroltK coitrol on Heennr vihtcl. Artillery type wood wheels, rimi. ttwd Wwt- rhonsc ehrtrfc liKlitiBf. The biggest, best surpriie'for 1917 is car that will merit tKt enthusiastic praise of Canadian motorists. Big and graceful; luxuriously roomj a car whose character stonil; apart in any crowd, .Examine this Shamrock Gray- Gray- to hold the road, make Yet roomy ir, givingrfull, comfort for four passengers A car with roadster vA roadster as a touring car, givingrfull, comfort for four qualities and touring comfort. The ideai small-family car Undoubtedly style and design are itsfirst appeal. But there is even solid satisfaction ;in the stout, strong frame; the mechanical b perfection; ,the built-in (judlity ,that makes all Gray produotioiib famous.' Above all there's the same: wonderful motor as gives renown to the Gray-Dort Touring Car; thie sarne motor that Peugqt-famed PUnclie in its reserye of power; velvet-IiJce in its purr and smooth running. Note, too that the deep-cushioned comfort is in Roadster and Tour- ing Car alike. Note, that price is the same'for McTAVISH BROS. MOTOR CO. Agent Lethbridge District Lethbridge-Weyburn ALLEN Phone 1544 ;