Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1869-07-21

COMMON CoUNCIL.-We have been
obliged to omit the publication of the Com
mon Council proceedings the last two weeks
through lack of space. The following is a
short synopsis of what was done at the two
meetings.:
June 30 the Fire Department were au :
tnorlzed to h1ild a shed on the north side of
he engine house in which to keep the
truck and other implements of the Hook
and Ladder Company a sidewalk was au-
ehorized on the east side of 9Th street from
Main to East Dodge str eets the owners of
the mill dam, south of Main street bridge,
were requested to keep open the schultz or
iogway during high water; and Il. S. Pier
pont and Il. Bertram were declared chair
men of the Judiciary and Finance Commit
tees, respectively, in place of T. Moore and
+. Devy who claimed the positions by viz
tue of elections.
The Council convened July lst, in special
session, and was occupied principally in
considering the ordinance providing for
compromising and paying the city Railroad
bonds, which was finally passed by the fol
lowing vote: Ayes-Ald. Bertram, Hart
wig, Halliger, Mayer, O'Byrne, Perpont,
Williams and Wieseman, 49, Nays-Ald.
Devy, Jones, Moore and DIN a. The or
dinance in substance is as follows
Section provides for the settlement of
the 100000 Of bonds issued to the Madison
& Watertown Railroad Company, and ap-
propriates therefor sum not exceeding
S50,o0oi it also provides that previous to
such settlement the written opinion of J.
NJ. Gillett, Esq. in regard to the validity of
the different issues of such bonds shall be
procured
Section provides that the money appro-
priated shall be raised by the sale of city
orders.
Sscticn provides that the Mayor, Pres
ident of the Council, and the Chairmen of
the the Judiciary and Finance Committees,
{ Messrs. Richards, Williams, Pierpont and
Bertram) constitute an Executive Board to
settle said bonds on the best terms obtaina-
BILE, provided the Board consider them sat-
isfactory.
Section and provide that upon agree
ment with the holder of any of said bonds
to settle the same, the Clerk shall issue city
orders for the amount agreed upon i,
and the Board pay the same, (or mon
ey raised by Sc ling them at not less
than par) to such holder in exchange for
the bonds which sha l be Immediately can
celled also that at the 1st meeting of each
month the Board shall report the amount
of bonds cancelled, and the sums paid there
for; also that bonds thus cancelled shall be
securely kept.
Section provides that the city orders
shall be drawn upon the city general fund,
shall draw 10 per cent, interest, shall | not
exceed $4,000 in the aggregate, and that
not more than $40, 900 shall be made paya-
bic in any one year
Sections and provide that the city
orders shall have interest coupons attached,
and that such orders and coupons shall be
receivable for all taxes due the city for the
year next prior to the January when the
same shall become due and that no bonds
shall be compromised unless accompan
with the interest coupons thereto belonging,
nor any coupons settled separate from the
bonds to which they belong
Section 9 provides for the levying of the
necessary taxes to pay said city orders and
section 10, that each member of said boa I'd
shall give bond of $4,000 with two ap
proved sureties conditioned that they shall
faithfully discharge his duties as member
OF said board