The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1870-04-07

the Common Council OF the Clty OF Ehnauel--
phia on Thursday, the twenty-fourth day OF |
March, 1870, the annexed bill, entitled IAN |
Ordinance to authorize a loan for the erection |
of bridge across the river schuylkill at Fair |
mount, Is hereby published for public lntor-
nation. - -
Clerk of Common Council.
AN oRDINANCE
"A To Authorize Loan for the Erection of
Bridge across the River Schuylkil at Fair
mount.
of the city of Philadelphia do ordain, That the
Mayor of Philadelphia be and he is hereby au-
thoriZed TO borrow, at not less than par, on the
credit of the city corporation, from time to
time, such sums of money as may be necessary
to pay for the construction and erection of
bridge over the river Schuylkil at Fairmount,
not exceeding in the whole the sum of seven
hundred thousand dollars, for which interest
not to exceed the rate of six per cent. per an
mum shall be paid, half-yearlv, on the first days
of January and July, at the office of the City
Treasurer
The principal of said loan shall be payable
and paid at the expiration of thirty years from
| the date of the same, and not before, without
| the consent of the holders thereof; and certih-
Gates therefor, in the usual form of certificates
of city loan, shall be issued in such amounts as
| the lenders may require, but not for any frae-
/ tional part of one hundred dollars, or, II re-
| quired, in amounts of five hundred or one thou
| sand dollars and 1t shall be expressed in said
certificates that the said loan therein mentioned
| and the interest thereof, are payable free from
| all taxes.
Section g. Whenever any loan shall be made
by virtue thereof there shall be- by force of this
| ordinance annually appropriated, out of the
| income of the corporate estates and from the
/ sum raised by taxation, sum sufficient to pay
the interest on said certificates; and the fur
| ther sum of three-tenths of one per centum on
/ the par value of such certificates so issued,
shall be appropriated quarterly out of said in
| come and taxes to q sinking fund.- which fund
| and its accumuations are hereby especially
pledged for the redemption and payment of said
| certificates.
| REsoLUTIoN TO PUBLISH LOAN
| III BILL.
Resolved, That the Clerk of Common Coun-
| Gil be authorized to publish in two daily news
| papers of this city, daily for two weeks, the
| ordinance presented to the Common Council on
Thursday, March a. 1870, entitled IAN ordi-
nance to authorize loan for the erection OF a
bridge across the river Schuylkill at Fair
mount" And the said clerk, at the stated meet
ing of Councils, after the expiration of four
weeks from the first day of said publication,
shall present to this Council one of each of
said newspapers for every day in which the
| same shall be made. 32624t
COMMON COUNCIL OF PHILADELPHIA.
~ CLERKS OFFICE,
| PHILADELPHIA, Feb. 4, 1870.
| In accordance with a Resolution adopted by
the Common Council of the City of Phiadel-
| ,
| 1870, the annexed bill, entitled
'AN ORDINANCE
To create loan for the building of a bridge
over the River schuylkill, at South street
mortgages" is hereby published for public in
formation.
JOHN ECKSTEIN,
Clerk of Common Council.
AN ORDINANCE TO CREATE A LOAN
"A FOR THE BUILDING OF A BRIDGE
OVER THE RIVER SCHUYLKILL AT SOUTH
, GROUND RENTS AND MORTGAGES.
Section l. The Select and Common Councils
) of the City of Philadelphia do ordain, That
J the Mayor of Philadelphia be and he is hereby
, authorized to borrow, at not less than par, or
, the credit of the city, from time to time, one
million five hundred thousand dollars, to be ap
piled as follows viz.-First. For the building
of bridge over the River schuylkill at South
street, eight hundred thousand dollars. Second
For the payment of ground rents and mort
cages, seven hundred thousand dollars, fol
which interest not to exceed the rate of six
per cent. per annum shall be paid hal
yearly on the first days of January ant
July, at the office of the City Treasurer
The principal of the said loan shall
be payable and paid at the expiration of thirty
. years from the date of the same, and not before
! without the consent of the holders thereof; anC
the certificates therefor, in the usual form of thu
T certificates OF the City Loan shall be issued il
such amounts as the lenders may require, bu
r | not lOr any lTacIlOnal part Ol one uunureu o.
one thousand dollars; and it shall be expressed il
said certificates that the loan therein mentioned
and the interest thereof, are payable free from al
!, | taxes.
Section 2. Whenever any loan shall be mad,
g by virtue thereof, there shall be, by force o
# this ordinance, annually appropriated out o
i | the income of the corporate Estates and from
: the sum raised by taxation, sum sufficient tt
pay the interest on said certificates; and tn,
further sum of three-tenths of one per centuu
. on the par value of such certificates so issued
shall be appropriated quarterly out of said in
come and taxes to a sinking fund, which funt
and its accumulatons are hereby especially
J pledged for the redemption and payment of sail
y certificates.
I DISSOLUTION TO PUBLISH LOAN
III BILL.
Resolved, That the Clerk of Common Council
, be authorized to publish in two daily news
papers of this city, daily for four weeks, tn
ordinance presented to Common Council o
: Thursday, February 8, 1870, entitled "An ordi
3 nance to create loan for the building of
bridge over the river Schuylkill, at South street
. and for the payment of ground-rents and mort
cages" And the said Clerk. at the stated meet
ing of Councils after said publication, shall pre-
sent to this Council one of each of said news
| no pnrS for avarv dav in which the sama sha'