The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1870-03-26
JOHN ECKsTEIN,


JOHN ECKSTEIN,
Clerk of Common Council.
An ORDIN NCE
"A To Authorize a Loan for the Erection OF q
Bridge across the River schuylkill at Fair
mount.
Section 1. The Select and Common CouRcils
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 n
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-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 ccrtih-
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-
quIed, in amounts of five hundred or one thou
sand dollars; and IL shall be expressed in said
certificates that the said loan therein mentioned,
and the interest thereof, are payable free from
all taxes.
Section Q. 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 a sinking fund, which fund
| and it's accumuations are hereby especially
| pledged for the redemption and payment OF said
certificates.
r ESoLUTIoN TO PUBLISH A LOAN
Resolved, That the Clerk of Common Couu-
| 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 IAN ordi-
| nance to authorize q 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. 326 24t
| COMMON COUNCIL OF PHILADELPHIA
~ CLERKS OFFICE,
| PHILADELPHIA Feb. d. 1870.
| In accordance with Resolution adopted by
the Common Council of the City of Philadei
phia, on Thursday, the third day of February
1870, the annexed bill. entitled
| GAN ORDINANCE
| To create loan for the building of q bridge
and for the payment of ground rents ant
mortgages" is hereby published for public in
formation. -
Clerk of Common Council.
AN ORDINANCE TO CREATE A LOAN
a FOR THE BUILDING OF A BRIDGl
OVER THE RIVER SCHUYLKILL AT TSOUTl
STREET, AND FOR THE PAYMENT Oh
GROUND RENTS AND MORTGAGES.
Section 1. The Select and Common Council
of the City of Philadelphia do ordain Tina
| the Mayor of Philadelphia be and he is hereb,
authorized to borrow, at not less than par, OF
the credit of the city, from time to time, on
million five hundred thousand dollars, to be ap
piled as follows viz:-First. For the buildin!
of bridge over the River schuylkill at Soutl
street, eight hundred thousand dollars. Second
For the payment of ground rents and mort
| cages, seven hundred thousand dollars, TO
which interest not to exceed the rate of 81!
| per cent. per annum shall be paid hal
yearly on the first days of january an,
July, at the Office of the City Treasurer
The principal of the said loan shal
be payable and paid at the expiration OF thirt
years from the date of the same, and not before
without the consent of the holders thereof; ant
the certificates therefor, in the usual form of tn
certificates OF the City Loan, shall be issued il
such amounts as the lenders may require, bu
not for any fractional part of one hundred o
one thousand dollars and 1t shall be expressed i
| said certificates that the loan therein mentioned
and the interest thereof, are payable free from a.
| taxes.
Section 2. Whenever any loan shall be mad
by virtue thereof, there shall be- by force c
this ordinance, annually appropriated out G
the income of the corporate estates, and fror
the sum raised by taxation, sum sufficient t
| pay the interest on said certificates and tn
further sum of three-tenths of one per centur
on the par value Of such certificates SO issue
shall be appropriated quarterly out of said il
come and taxes to a sinking fund, which fun
and its accumulations are hereby especial
pledged for the redemption and payment of sal
certificates
DISSOLUTION TO PUBLISH A LOA
~ BILL.
Resolved, That the Clerk of Common Counc
be authorized to publish in two daily new
papers of this city, daily for four weeks, u
ordinance presented to Common Council q
Thursday, February 3, 1870, entitled San ord
nance TO create a loan for the building of
bridge over the river Schuylkill, at South stree
and for the payment of ground-rents and NOR
| cages" And the said Clerk at the stated NEE