HomeMy WebLinkAbout2760 Letter, Smith & Ludden to Selectmen concerning town's right to borrow money without creating a sinking fund, October 15, 1895 E. IRVING SMITH, OFFICE OF CHARLES M. LUDDEN.
SMITH & LUDDEN,
ATTORNEYS AND COUNSELLORS AT LAW,
ROOMS 25 AND 26,
29 PEMBERTON SQUARE.
PLEASE ADDRESS ALL CORRESPONDENCE BOSTON, MASS.
TO THE FIRM.
LONG DISTANCE TELEPHONE,
"HAYMARKET 1209-2."
BOSTON, Oct. 15, 1895
Board of Selectmen,
Lexington, Mans
Gentlemen -
We have carefully examined the cues ti on of the right of the
town to borrow money without creating a sinking fund. We find that
there is absolutely no doubt that the town may do so under tyre pro
ad
visions of chapter 133 of the Acts of 1882 by, a majority vote that
the debt: ,.y'- be paid in proportionate annual payments until it is
extinguished. The debt. must , however, be extinguished within twenty i
years, in accordance with the provisions of chapter 27 of the Public
i;
Statutes.
I
In order to provide for the pat, dent of the Lexington TOTater Bonds
in th,e manner required by the act of 19.82 it will be necessary for you.
to call a town meeting. When tie meeting is called it will also be
well to have the contrast ratified as it is drawn and we, therefore,
inclose you two articles to insert in tree toinn N,Jarrm- t. At the
meeting the tvc articles should be �-in together and a vote passed
We also inclose a Formfor
you to insert in a newspaper if you wish or as is usual in some cases
you can send copies of this notice around to the different brokers.
We are not aware that the town has passed any votes which Cover thel
ground which we have mentioned. If any such vote has been passed
Art. I
To se i;_ tha to �vm11 rati.fvr' and co Firm the coat c dated
v of betwe en n ester
Co mb e to va-i of In ton .
.art,.
To see it the town vvi ll..nake Pm ppj opri at ion ro ° the pu-rp os e of
purchasing the who 1e vaz tel' rights, estate , franchises and privi seges
belonging to the Lexington Water Cor-�panv in Fccord&rice wi ty1 tie co ?r
tLm0t bets,F—,- the town ard -the sFid col:pNlw; t,u e it t'-Iv towla v:ill
bo~,row rly sum so �;,�p�: opriatac�. �� -d iss e t=�Le bonds of the town to �vr�
amount not exce-eding $200, 000. ti-lereforl and to sae if the tow-1-1 Y. 1,
i ns teed of est ablis hi ,- P, o v ,
sinking �`i4nd, � �. vide ,°®r V.-le of
o�:
sndh bonds i ard-rual proportionate -payments: in Wcordance with chapter
ix thee . t ers of tr c� on.13 of tAe ^ � or t,^,,-e
:P ctl ()n incident ther` t o's
E. IRVING SMITH, OFFICE OF CHARLES M. LUDDEN.
SMITH & LUDDEN,
,ATTORNEYS AND COUNSELLORS AT LAW,
ROOMS 25 AND 26,
29 PEMBERTON SQUARE.
PLEASE ADDRESS ALL CORRESPONDENCE BOSTON, MASS.
TO THE FIRM.
LONG DISTANCE TELEPHONE,
"HAYMARKET 1209-2."
BOSTON, Oct . lc"
to that extent these votes will be unnecessary.
we also wish to call your attention to the fact that the county
commissioners have lard out arZ1 changed the grade of the different
roads in Lexington in accordanee with the wishes of your board and vie
herewith inclose you a printed copy of their. order. We have ascer-
tained today that Vie city of Cambridge has brought a petition for a
writ of certiorari against the county commissioners to quash these
proceedings and as the town of Lexington is interested in having the
proceedings of the count-v commissioners stand we suggest that a vote
Of the town be passed authorizing the selectmen to employ counsel to
represent the town in this matter. You will have to prepare a-n
article for the warrant for this purpose.
Veryr truly yours ,
�l
FX1
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