The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1867-10-19
49, q - : !. -. = ~ -. ., -
PROCEEDINGS OF CITY COUNCIL
-r7fzZs s 6oyScur CHAMBER, October ~ 1867.
Pursuant to resolution adopted atthe asflnsye;! ty
ING. held on the 14th inst, City Counsel met UNI

Pursuant to resolution adopted at the lastfmeett-
ing held on the 14th inst, City Counsel met tniS
evening. n,
Present-The Mayor, and Aldermen Rayenel,
Gerdts QNei Wills s.enmsgsT D@eS ans Prineie
IS members.
The minutes CT the last meeting were read and
confirmed. .....,. 70,
ing was for the purpose oftazing up the.fonowing
Bill, whi n received it's first reading at the last
meeting:
BILL TO PROVIDE FOR THE LIQUIDATION OF TIE
INTEREST ON THE DEBT OF THE CITY, WHICH Ac-
oBUED ON THE .THIRTETH iDAY sok sEPTEASkn
LAST.
Be IL ordained byi The Mayor and Aldermen q,
CttU Council assembled, That for the purpose Oh
hquidating the interest on the pubic debt OF the
city, which accrued on the thirteth day OF Septem
Der last, six per cent. stock, obligatory on tne
corporation of the City OF Charleston shall &c
issued, under the direction Of the Mayor, 70 tne
persons holding stocks or six per cent bonds OF
the city, and entitled to receive the interest az
crued thereon at the time above stated, the salu
stock to bear interest after the rate OF SIX per
cent. per annun payable quarterly. redeemaDie ~
thirty years frJil date: Pfopided that no part o.
said stock shall be 'issned for any sum less than
twenty dollars, or for any fractional part OF a
dollar: Provided, also, that all sums for less tnan
twenty dollars and for fractional parts OF dollar,
1SsofIoN 4 That the form of certificates and
mode of transfer of said stock shall bc subject 70
the same regulations as now exist In relation 10
other city six per cent. stocks of theicity.
The Bill was taken up and read second time;
alderman Willis said that he was opposed to the
Bill as it now reads, and moved to amendIthe first
section by striking out eli after the word Nlast on
the second line and inserting the words 'Cry Bills
shall be issued to the extent ofs75, 600.
Alderman Rayenel detected to the amendment,
bills to much lower figure than they are now.
After considerable discussion on tho proposed
amendments Alderman Willis called for the yeas
and nays .7'-.
Teas-Aldermen o'Nein,l Willis aid cosgrove
Naais-Aldsr1nen Ravenel, Gerdts, Steinmeyer,
Olney, Oakes, Marshall, Butler, Co lrtenay, Prin-
gle, and the Mayor-10.
The amendment was lost.
The question then recurred on She first section
of the Bill, The first section was read and adopt
ed-4seven voting for and six against it. The Sc.
cond section was read and stopted. The Bib
passed it's second reading.
Alderman Ravepel moved inat the Bill be taken
up pSsIms for its thss sd4g ssve notice Of
bill on its third reading. ~ -. '.:
The bill was taken up tor its third reading.
Alderman Steinmeyei moved to amend the hrst
section by striking out, after the word last" on
the second line, 'six per cent. stock, and insert
ing, Certificates of indebtedness receivable for
taxes and other dues" Lost.
Alderman Willis then moved to amend the first
section, by striking out the words 'six per cent.
stock" after the word slast' on the second line,
and insert 'bills receivable, receivable for taxes
and other dues;" and. on the sixth line, to erase
the word ''thiry, and insert Gone. : Lost-eight
voting against, fve for it.
The bill received its third reading and passed,
the title changed to ordinance, and was ordered to
be engrossed for ratification. , :. ;
Adjourned.