The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1864-11-23
AN ORDINANCE

AN ORDINANCE
To take Possession Of tho Northern Liberties Gas Works
and 70 create load therefor. 49,. go.
Section J. The select ana Common Councils Of the CITY
of ladoFia do ordan That the Trustees OF he Fhia-
dCpha Gas Works. hereby authorized to tAsc bosses
the frat day Of July, 1861 AS can be In
accordance win the terms Of ah Act approved April l.
seecn lha for the purpose Of CnqG9g the Trus
ho Gas Works authorized blythe first section hereof the
Ma rOf the city is hereby authorized 10 borrow on The
credit OF he 3y, at rate Of interest not exceeding
per cent per anEum such of money the Trustees
require not exceeding four thousand dslrs
tie Cy Treasurer is HEREBY d eced tie rcIUJion u
Phgdd hH IN uch amounts and TO sach paresf rs they
shall designate not exceeding said sum.
SAID loan to be used or the conversion OF the stock OF the
NUthtrh LlberueS Gas Muhs' auu lhe plhelp tttreOi
10 be payable at the expiration Of heen years from the
sent ofthc holders thereof Inc certificates of said loan
shall be in the usual form in which certificates heretofore
shall be transferable at the oice Of the city Treasurer
Sections Ibat t9e said Trustees sa set apart out or
um per annum the amount borrowed By virtue Of
thereon, and fsr reimburing the principal thereof,
when the same shall be payable; and on or
before the thirty nrst day Of December and the
tirti,h day Of June in every year, until the
said loan IS redeemed tEe sum o. SIX per eentnm ON
70 the cry Treasurer who shl apply three per eentum
mauinp three centum shan be paid by the said
ss invest the and its aocumuations in The loans to
the said Gas Works, or in any oncr loans Of the City
cay pledged to the repayment of said loan and any
plus remaining aer the payment of said loan, shall be
applied by the Commissioners OF the Sinking Funt towards
toe eAtnguislmcnt Of the other loans to the said Gas
Works fany, Otherwise Of the funded debt Of the Cs
Phi eoephla,
section Upon taking possession Of the works, pipes
conveyed under ahoIity of this ordnance Il shall
bo The duty te Trus Of he las Works make de-
tailed repOr Councils Of tho property real and PERSONAL
tees fha have with respect said works, pipes &C.
same powers aud authority In AL respects they
hereafter have, with respect works
6lTeauy intGusted TO their care.
Section D. For the purpose Of enabling the Trustees Of
the Philadelphia Gas Works 20 carry the yaOgs trusts
cOnnded them by Ordinances OF CouqCils 10 in
crease extend locate, and improve In the most ecoROm
the pipes, meters aud wOrks under their
meet the increasing wants OF the citizens tOr
required regulate the price Of gas and the several
products It's manufacture may from time to tine be
necessary the said price Of be the In all the
wards Of the City supplied By the Gas Works under the
Scton 8. Anything in any other ordinance contrary
10 this ordinance Is hereby repeated.
RESOLUTION,
Directing the Clerk OF Common Council to Publish Loan
Bil.
Resolvec That the Clerk Of Common Council be autho-
publish la two daily newspapers, daily, for oui
weeks the ordinance presented to Common Council at
stteo meeting thereof held on the 2Itn day Of October
1861 entitled AN Ordinance 10 take possession OF ht
Northern Liberties Gas Works and TO create loan there
(" and the said crk a. the stated meeting Of Councils
next after the expiration OF four weeks from the said pub
cauon shall present Councils OfOach of said news
papers for every day in which the shall have beer
made. l0-3l-4w