The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1864-11-15
Az ORnINANCE


To take Possession OF the Northern Liberties Gas Works.
Section l. The Select and Common Councils of the city
OF hlndcPha do oTdnin THAT the Trustees OF tho Ph-
sion Of the works Of the northern Liberties as woTEs
so soon alter the trt day Of July ls5 as can be- in
Section Tha; for the purpose Of enabling the Trns-
tees Of the Philadelphia Gas Woks to take possession
the Gas Works authorized blythe first section hereof the
credit of The city at rate of interest not exceeding six
per cent per annum such sums of money the ruse,
hs civ Trcas9Ter IL , iS an any iIC,'
the Trustees to issue certificates Of the loan OF the City
Philadelphia In sucn amounts and TO such parties they
| shsldesgnate not exceeding said sum.
Northern Liberties Gas Works, ana the prncpa Creof
to be PAYABLE at the expiration Of nocn years from the
date Of such conversion and no, before without tho
sent 3the holders thereof lhc certificates OF said loan
Shhl DC IN he usuHl 0Gm IN which ctruCates heretofore
have been issuod on the requson OF said trustees
shah be transferable at the office Of the city Treasurer
Section 3. That the said Trustees shall apart Of
the PROFITS OF said Gas Works the sum Of twelve per
this ordinance, Tor the purpose Of paying the interest
thereon, and for rem6uraing the principal thereof,
before the thirty nrst day Of December and the
SAID loan is redeemed the sum OF six per centgm on
he amgnt ofsaid loan shan be paid by tie said Trustees
to me CITY Treasurer who shan apply three per centum
thereof to he peymenoi the inter. sadloan tho
Treasurer 10 the Commissioners OF Tie Sinking Fund, VINO
the said Gas Works, in any other loans Of the City
Philadelphia, as sinking fund, which Is hereby specih
Plus remaining ater the payment OF said loan shall be
applied by the COmnis oners the Sinking Fund towards
the cNtngushment Of tho other loans TO the said Gas
Works any otherwise Of the funded dobt Of the City
phiACepha.
Section Upon taking possession OF the works pines
c. convey ed under authority OF this ordinance, shall
be The ouy Of OF the }aH Works make dc
tailed repor 10 Councils Of the property real and personal
so conveyed, and its assessed vauo and said Trus-
tees ha have, with respect to said works pipes &C. the
same powers and authority in all respects as they nov
have hereafter may have, with respect TO the works
already intTusted to their care.
sGGtOn5; For The purpose OF enabling the Trustees OF
the Philadelphia Gas Works 10 carry the various trusts
oonfded 10 them by Ordinances Of Councils and In
crease, extend, locate, and improve I'm the eoOnom
cal m9nner The pipes, meters WOrks under their care
so as TO meet the increasing wants Of the citizens gas
Hight, the said Trustees hereby authorized and
required so to regulate the price OF ami the
products OF its manufacture as may Om time time be
necessary the said price OF 10 be the in all the
Wards Of the City supplied by the Gas Works under the
control Of the Trustees.
Section g. Anything in any other ordinance contrary
20 this ordinances Is hereby repealed.
RESOLUTION
Directing the clerk OF Common Council to Publish Loan
BIZ.
Resolved, That the CLERK Of Common Council be autho
rzed 10 publish In two daily newspapers, daily, for
weeks, the ordnance presented to Common Council at
stated meeting thereof held the 2tn day October
1861, entitled IAN Ordinance TO take possession of the
Northern Liberties Gas Works, and 10 loan there
for and the said ERIK at the stated meeting Of Councils
next after The expiration Of four weeks from the said pub
HcaCn shall present to Councils Ofeach said news
papers for every day in which the same shall have been
made. lU-3l-iW