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.