Marshall Water Works Out of Debt

Marshall Water Works Out of Debt

The water works system of Marshall, Mich., is now entirely free of all bonded indebtedness. The water commissioners on November 2 paid off the final bonded indebtedness of $10,000, of which $9,000 was paid to the Commercial Savings Bank and $1,000 to the school district, who hold the bonds. The bond issue for $49,000 was given November 1, 1897, for 20 years, and expired today. The three water commissioners give out the information that there is now only $7,000 bonded indebtedness on the electric light plant. These bonds are serial bonds and run in the denomination of $1,000 each, one being redeemed each year.

No posts to display