The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1870-04-05

phia on Thursday, the twenty-fourth day of
March, 1870, the annexed bill, entitled IAN
Ordinance to authorize loan for the erection
of bridge across the river schuylkill at Fair
mount" is hereby published for public infor-
nation.
Clerk of Common Council.
AN ORDINANCE
IA To Authorize Loan for the Erection of a
Bridge across the River Schuylkil at Fair
mount.
Section 1. The Select and Common Councils
of the city of Philadelphia do ordan 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 q
bridge over the river Schuylkill 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 certif-
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-
qured, in amounts of five hundred or one thou
sand dollars and it shall be expressed in said
certificates that the said loan therein mentioned,
and the interest thereof, are payable free from
all taxes. li
Section 2. 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, o 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
nd ito nj lafin lev
pledged for the redemption and payment of said
certificates.
EsoLUTIoN TO PUBLISH LOAN
Resolved, That the Clerk of Common Coun-
ell 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 "An ordi-
nance to authorize n loan for the erection of q
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. 3 26 24t
COMMON COUNCIL OF PHILADELPHIA.
~ CLERKS OFFICE,
PHILADELPHIA, Feb. 4, 1870.
In accordance with q Resolution adopted by
the Common Council of the City of Philadel-
phia, on Thursday, the third day of February,
1871, the annexed bill. entitled
''AN ORDINANCE
To create loan for the building of bridge
over the River Schuylkill, at South street,
and for the payment of ground rents and
mortgages" is hereby published for public in
formation.
JOHN ECKSTETN
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 l. 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.:-Frst. For the building
of bridge over the River Schuylkll at South
street, eight hundred thousand dollars. Second.
For the payment of ground rents and mort
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, aud not before,
without the consent of the holders there'f; 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, payable free from all
taxes
Section 2. 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
further 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 sinking fund, which fund
and its accumulations are hereby especially
pledged for the redemption and payment of said
certificates.
d EsOLUTION TO PUBLISH A LOAN
~ BILL. 'I
Resolved, That the Clerk of Common Council
be authorized to publish in two daily news
papers of this city, daily for four weeks, the
ordinance presented to Common Council on
Thursday, February 8, 1870, entitled San ordi-
nance to create q loan for the building of %
bridge over the river Schuylkil, 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 pnblicntion. shall pre-