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<br />THURSDAY <br /> <br />SEPTEMBER 19, 1957 <br /> <br />Section 8. The question whether the bonds hereby authorized shall be <br />issued, shall be submitted to the qualified voters of the City of Itartimville <br />at a special election to be held on November 5, 1957. The Circuit Court of the <br />City of Mart ins ville , or a Judge thereof, is hereby requested to enter an order <br />direct.ing the proper election officers of said City to take such steps and <br />prepare such means as may be necessary to submit to the qualified voters of said <br />City at such special election the following question: "Shall the City of <br />Martirsville issuo its negotiable bonds of tho aGgregate principal amount of <br />$2,500,000, to finance tho cost of improving t.he City's sewage disposal system <br />by corstructing and equipping a sewage treatment plant to be loc2ted on a suit- <br />able site, and by constructinG the intercepting sewers necessary to COIh'1ect the <br />City's existing sewa;:;e disposal system vr.ith such sewage treatment plant, and by <br />const.ructing additional seVTers needed for t.he collection of sewage, and by <br />acquiring the lands or ri,'"',hts in land required for the making of ;3uch improve- <br />ments, such bonds to bear interest at not exceeding 6% per annum, and to llEt.ure <br />wi thiY1 a period of not more than th:irty years 'Jer;inning with the date of said <br />bonds in such annual installments as the Council of said City may determine in <br />accordance with lavr?f1 <br /> <br />Section 9. This ordinance shall take effect at the time and in the manner <br />provided by law. <br /> <br />A t the request of City Treasurer William R. Shumate, Council continued for study his <br /> <br />salary and mq:)ense requests for the calendar year 1958. <br /> <br />On motion, duly seconded and unanimously carried, Council authorized the advertising <br /> <br />of the $2,200,000 School Building Bond not.ice of s2>le (which bonds are to be offered <br /> <br />for sale on October 9, 1957) in THE BOND B1ITER. <br /> <br />City I'ftanager Hirst cmd l':;c.yor Shultz briefly reDorted on a conference held September 16, <br /> <br />1957 in New York City betw'een representatives of the City and Moody's Invest.ors Service <br /> <br />in connection wi th efforts by the City to obtain an improvement in its bond rating. <br /> <br />CO'L'lcil was adjourmd.. <br /> <br />" <br /> <br /> <br />d. ...Vqz.... " <br />n, Clerk of Council <br />