The Daily Times.
Liverpool, Merseyside, England, 1860-07-05 00:00:00

TOWN,

C 0 N-C IL.

YESTERDAY.

vlcThe usual monthly meeting of the To*n eonneil 7as.
held iesterday in the eonneil thiniter, at the Town-
hall, T. D. Andetsbri, Es 4., the itayof, presiding.
ioscon's PORTRAIT.

The lkiAioa mentioned that puisuant to the request
piade at the last Meeting, lie bad seiltt44,t,haals of ilia
rdou"ncil to the Earl of I.4ei?'pste' fot his gift of the poi.:
1'6414 o'fMT. llosoe, He ,al.to stated that the painting
had arri7ed en Viday last.
if:NANCE COMMITTEE.—THE CLFAK OF THE rEACE'a

nES, 8:C.
•
The proceedings of the Finance Committee comprised
rffk) —First, a recommendation that the discretion given by;
~,,..and contained in, the act of 7 William W., and 1 Vic.,
cap. 19. as to the appointment of anAssistant or Depiity
Recorder, should, at the next sessions, be exercised by
the Recorder. Second, a report pursuant to the inttrut-
. tions of the Council at the last nieetitig, on ihe pdvets,
. duties, and obligations of the Council in reference to the
. property of the Corporation and the income thereof, and
• - as to the disposition thereof', by sale, in fee, or on lease,
or.on the renewal of leases, and the application of the-
proceeds of such sales, leases, or renewals.
After the passing of the Municipal Corporationl Act,
the corporate property became under that act subject to
certain public trusts to be exercised by the Council only
in the manner and for the purposes prescribed by that
act, and-the Council are restrained from selling,
;caging, or alienating the lands, tenements, .heredite-
meats, or estate of the Corporation without the consent
of the Lords of the Treasury. When it is intended to
make application to the Lords of the Treasury to author 7
rise the sale, mortgage, or alienation of any part of such
property, the act prescribes that notice of such intention
shall be affixed for one calendar month in front of` the
Town-hall, and that a memorial representing the circum-
stances of the case shall be sent to the Treasury, such
.memorial having been previously .deposited 'for one
calendar month in the,Town-cleik'soffite, freely open to
the inspection of every burgess at an seasonable hours.
." By the Municipal Corporation, Mortgages,
Act, the Lords of the Treasury are empowered as a con-
&tip of their approval of any mortgage, to require
that, the money borrowed shall be repaid with interest
in thirty_years, or tiny less period, and either by instal-
menttor. by meansT of a sinking fund or both ; and, if
such repayment is directed by means of a sinking fund,
Council are required,. out of the wills and profits of
the heredita.menla or rates; to invest such sums as the
tanninissioners Of the Treasury may direct in Govern-
•
-rnt annuities, and in like manner to invest their divi-.
tiends thereon, so that such PUil25

rIOMPOUnd interact,

accumulate at
uuu no such interest can be.aold or
transferied without the written consent .of the Lords of
the Treasury.
"This act further prescribes that where any purchase
money or. compensation has, been paid into the Bank of
gogland, in respect of the purchase of any lands from a
Municipal Corporation, under act of Parliament, or of

• • permanent damage to any such lands, the Lords of the
,Treasury may, if they approve of the paynient of%silch
ss. purchase money or compensation, for damage to the
Corporation, require provision to be made for raising •a
f !Inking fund, as before prescribed, and investing the
Same and the dividends thereof, and when it appears to
the Lords of the Treasury that an amount of annuities-
equivalent to the, amount paid to the Corporation has
`,been raised by investment under the act, they may
direct the investment to cease, and the annuities and
• dividends will thenceforth be applicable, as the same
would have been if such annuities had arisen from
investment under the act under which such purchase.
money or compensation became payable'.
‘f This. act further provides that where the Lords of
the Treasury approve of the sale of any houses, their
UpPioirul may tie subject to such conditions, in relation
Ito the investment of the proceeds of such sale, for the
of ,tee body corporate as-they may see fit ; and,
where they direct the same to -be invested in Govern-
ment annuities, the before-mentioned provisions as ,to
. "the mode of investing, payment of dividends, and tram-
ter of annuities shall apply, but -not so as to render
Liestssary any accumulation ; or, if they see fit to con;
.„' bent to the application of the proceeds of any sale, 'or.
part thered, for the benefit of the inhabitants of the
borough, they may,. as a condition to their consent,
ilelitire the establishment of an equivalent sinking fund,
• a before prescribed in other cases ; and this enactment.
▪ sto apply as well to 'moneys received for equality of ,
• , exchange as to the proceeds of the sale of any heredita-
.l34l4-

. . " The Lords of the Treasury are further authorised ,to
• consent to the application of any annuities arising from
such investments for the benefit of the inhabitants of,
the boroughs, and, as a condition of their consent, may
. 4v
t rwttre the like provision for a sinking fund, with a
....kirOviso that it shall not be imperative 'on the Lords of
„ the Treasury to require such, provision as a condition'
of their assent to the application of such annuities or
intmays, or to the payment of any purchase money, or
itomponeoli.a, o= money bo arise from the 'sale of the
inVestments thereof, where, by reason of the application
~ sikah annuities or money to improvement of the pro-
_ petty or the Corporation, or for the permanent benefit
the borough or otherwise, under the special eirctim-
starkees of the law, they may, in their discretion, think
:At to dispense with such provision.
"..The foregoing enactments of the Municipal Act and
of ,the.. Municipal Mortgages Act, apply only to the
niartgage sale or absolute disposition of the property of.
• ..the Corporation; but under the first wit the Councibis
• :likewise restrained from-granting or renewing leases of
'part of that property except subject to the conditions
*Abet act prescribed. • '

In reference to such leases, the Municipal Act provides
thatitcshalLact. be lawful for the Council of any body
te.r, demise or lease,--except in pareuanct of
poyenant. or agreement- bona fule:entered into, or •
of len* resolution entered in the 'corporate books pre-
/lions to the sth June preceding the passing of
thiLatt—any of the lands,- tenements, hereditaments of
such bodyaorporate, or renew any such lease,. except in
the maws after mentioned,. for: any term exceeding 31
years from the time when such lease shall be Made-, and
iz every lease:granted, except as after;mentioned, there
shall be 'received:and: niade payable during the whole
.:tenon' thereby granted, such clear:yearly rental as to the
-theConneil shalkappear'reasonable, Without taking any
ire; with a power to the Council, with the consent of .
Tiede of the Treasury, on notice and nieinOrial as
lieforelnentioned, in the case of proposed sale. or wort--
gage,' la giant leases in such manner and on such terms
kid, conditions as the Lords •of the Treasury' may
approve. .•
further provided that in all casesin which any
'Wooly. corporate shall, on the 6th day of June, :185,
. .4Te• been boand by covenant or agreement, or have
Aleest enjoined by deed, or have been sanctioned Or war,.
- ancient ilsage,"or by custom or practice, to
Inalri4lPY tmlemal•of -leases for' lives or yearn under the
-Stated; at a fine, certain or under any
epicial .'or4stiesific Jaime:or conditions,- and also in all
43asea.ciit'..rwti!#1- ivy body corpOietti shall • theretofore
ordiorilrmaitervenewel 7bf,anp Tease for years, or
tinderztlie::cfrodilistances stated, upon
:41i0;payinentSdiin---1111"- ---,tnrY fine; it shall be lawful for
the otnratit 'to :renew • Midi' lease for such term 'or
•flumbis tie years 111:11.101t ri!nt-;'' and upon the payment
_4l;velibiAlle or • premium, either 'certain' Or arbitrary;
or .:withoutany covenant for the' future
.renewal thereof,. asiauch body corporate could or might
dime done,....in: case the act had not been paesed
...turther,proier
.to the Council fr.
••••• grant leases
--fofiarty•terin- not exceeding seventy-five years of
manta and houses, the greater. part of the Yearly value •
a
eof
shall eonsisltof buildings ; also of land .whepeoit
eovenaut to erect buildings of greatf,r
then
~the •
value h e lan • ,
,also of land proper to be
&c., to be used with any ether building
Acionging either-to the body corporate or to any othei
..tirnprieter, or proper for any other person calculated to
afford convenience or accommodation to the occupier of
Y such li.onse.or building.
pteiaribed whether these leases for seventy-
.fig, pars are. to .be granted on payment of rent or fine,
,tif reined), which a* subsequent. act was passed, author-
:the:- granting of _Stich .leases either at a reserved
sent ct fit,i,01,.:- or both, . • •
-:ref-...iis•*ncler. these. provisions that leases are now
:104tod a 6 reneWed.bY the Council.
gAa.ta tikeineame.of the property of the Corporation,-
(001044141.Adtiirovides that the rents and profits of
all hereditamentsi and the• interest, dividends, and an-
mita iipaeedi of all meneys, dues, chattels, and valuable
'seinritiesi belonging or payable to any body corporate,.
shill be paid to. thb treasurer of the borough, and be by
ltinriairied. to the borough fund, which fund, subject
sell lawfurdebta,of the Corporation, and to the inte-
rest:itherepni •shall be applied to the payment of the
aajtiriee oi.:the mayor, the recorder, the police magis-
triteel!nd'Other officers, to the cost of preparing and
hafting burgess lists, ward lists and notices, and other
matters attending, elections, towards the expenses of
the prosecution, maintenance, and punishment of
offinders,.towarde county expenses Chargeable upon the
.linniugh under the aot, maintaining the borough gaol
and 'rouse of correction, the corporate buildings, the
payment. of constables, and all other expenses not
'_the 'act otherwise provided for, which shall be
necessarily incurred in carrying the act into execu-
tion; In addition to these payments, applicable to
all.t,arougha, many charges, under local acts, as to this
boi.engh, are obligatory on the borough fund. The
accounts of the borough fund are required to be made up
on _the 31st of August in every year ; and, if it shall
appear' that the fund is more than sufficient to meet all
the'abligatory charges thereon, the surplus is to be
applied' at the discretion of the Council for the public
benefit of the inhabitants and the improvement of the
borough. If the borough fund shall not be sufficient
for these purposes, the Council is required to levy a
boicinih rate to supply the deficiency.
"As to the proceeds of sales, as distinguished from
leases of Corporate property, it has been shown that,
under the municipal acts, no such sales can be made