The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1870-04-09
JUHN EUkS IEIN,
Clerk of Common Council.

Ol6Th Ol OOUulnOu OOuuCls
AN ORDINANC
"A 10 Authorize O Loan for the Erection OF q
Bridge across the River Schuyllill ut Fair
mount.
Section 1. The Select and Common Councils
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-yearly, 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 certifi-
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 frac-
tional part of one hundred dollars, or, if re-
quired in amounts of five hundred or one thou
sand dollars; aud il shall be expressed in said
certificates that the said loan therein mentioned,
and the interest thereof, are payable free from
all taxes.
Section 9. 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, a 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 a sinking fund, which fund
and its accumulations are hereby especially
pledged for the redemption and payment OF said
certificates.
PESOLUTION TO PUBLISH A LOAN
IN 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 Il
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. 1926 PIT
COMMON COUNCIL OF PHILADELPHIA.
~ CLERKS OFFICE,
PHILADELPHIA, Feb. 4, 1870.
| In accordance with Resolution adopted by
| the Common Council of the City of Philadcl-
| phia, on Thursday, the third day of February,
| 1870 the annexed bill entitled
GAN ORDISANCE
| To create a loan for the building of a bridge
| over the River Schuylkill, at South street.
and for the payment of ground rents and
mortgages, is hereby published for public in
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
| STREET, AND FOR THE PAYMENT OF
GROUND RENTS AND MORTGAGES.
| Section /. The Select and Common Councils
| of the City of Philadelphia do ordain, That
the Mayor of Philadelphia be and he is hereby
authorized to borrow, at not less than par, on
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, for
which interest not to exceed the rate of six
per cent. per annum shall be paid half
yearly on the first days of January and
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; and
the certificates therefor in the usual form of the
certificates OF the City Loan shall be issued in
such amounts as the lenders may require, but
not for any fractional part of one hundred or
one thousand dollars; and it shall be expressed in
said certificates that the loan therein mentioned
and the interest thereof, are payable free from al
taxes.
Section 9. Whenever any loan shall be made
by virtue thereof, there shall be, by force O
this ordinance, annually appropriated out o.
the income of the corporate estates, and from
the sum raised by taxation, sum sufficient tC
pay the interest on said certificates; and the
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 sinking fund, which funt
and its accumuations are hereby especially
pledged for the redemption and payment of sai(
certificates.
DISSOLUTION TO PUBLISH A LOAN
IL BILL.
Resolved, That the Clerk of Common Counci
be authorized to publish in two daily news
papers of this city, daily for four weeks, tn,
ordinance presented to Common Council OF
Thursday, February 8, 1870, entitled "An ordi
nance to create loan for the building of
bridge over the river schuyllill, 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-
| 10 this Enla,,nn of nanh of snia nor