The Ottawa free trader. [volume] (Ottawa, Ill.) 1843-1916, 1870-04-09
Council Proceedings.
REGULAR MEETING.

OTTAWA, April 5, 1870.
Present-Mayor Jones, and Aldermen Fiske,
Nette, Freeman. Lynch, Bunker, Duffy. Clifford.
Soran, Osman, McGinnis, Burke, Bosserman, Skin.
ner and Hutton.
The minutes Of the last meeting were read and
approved.
city auctoneer was presented.
On motion of Brunker, clerk was directed to
issue an auctioncer lcease to applicant upon com.
pllance on his part with requirements Of city or
dlnance. r 80
Communications from officers of Niagara and
Undne eng ne companies, recommending parties
for the appointment OF first and second engineers
OF the fire department, were, on motion Of Burke,
received.
Mayor Jones submitted the following commun.
cation, which was. motion Of Burke, referred to
committee on laws and ordinances with the request
that an ordinance authorising loan of money, as
recommended BY the Mayor, be prepared for the
action Of city council at next session:
Gentlemen Of the Common Council: -
1t appears from the report Of city clerk that the
Indebtedness of the city, due at the commence.
ment Of the present municipal year and not funded
was O07 H. of which the greater part bears IN.
terest at ten per cent. per annum .'ef SO .
There will also become due on and before the
first day Of January next $2s, 900 OF the. principal
Of and ell $50 Of the interest the bends issued
BY the city, and the further SUN of $1,000 on the
contract for the repair of Pine street sewer.
No basis exists for an accurate estimate Of the
additional expenses Of the city government for the
current year. but il is believed that by the exsr.
| else Of strict economy they can be reduced to
about $l2 900 without detriment 10 the interest Of
the city. This would make u total indie btedness Of
about $45,5s7 to be provided for during the pre-.
sent municipal year.
The entire revenue from all sources for the year
1870 belonging to the general fund will not proba.
bly, exceed $22 900; to this should be added about
1850, part Of proceeds of tax Of 1862 now in the
hands Of the collector, making in all about S2S $780,
which deducted from the above indebtedness
wonld leave balance of $22 0S7 due and to become
due during the present year Unsupported for.
To meet this deficiency aud preserve the credit
OF the city. immediate provision should be made.
The provisions Of the city charter do not admit Of
rate of taxation sufficient TO raise the required
amount, and there does not sppear to be any prac.
ticable Way 70 meet these obligations except to
| resort 10 y loan.
| would therefore recommend that an ordinance
authorizing such loan be adopted and submitted to
the voters Of the city. for theirapprovul or eec
| ton, in accordance with the charter.
Such loan would relieve the present embarrass.
mcnt If the city, while the interest upon the
amount borrowed would not greatly increase the
Indebtedness over and above the amount which
would be incurred il no provision should be made,
as nearly oil the indebtedness. to discharge which
| the proceeds of the loan would be applied, also
bears interest At the rate OF ten per annnm.
Official bonds Of X. n. Waterman, city clerk,
Justus Harris, city mnrthal, and J. Z. Shapley,
city treasurer, were submitted and, on motion oil
Burke, approved.
Committee on streets and alleys submitted the
following report 10 relation 10 attendance Of city
bridges and tenders.
7oMc Mayor and Aldermth cftAI city of Osta.ea
IN council nssepablcd. SAN -.L..r
The usder.igned, member. Of The COMMITTEE.