Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1872-06-11

ten statement to the Comptroller. which all
Of them shall sign and swear 20. IN which
they shall show the amount OF money received
by Thorn during tho month on account OF ne
sinking fund. the amount they have invested
IN the purchase OF the bonds Of tho city. the
price at which they purchased tho bonds, and
the numbers. dates and issues OF the bonds
purchaseds and the amount Of money belong.
hands; aud the said statement shall be filed
and remain in the Office Of the Comptroller,
At the time ,of making the said monthly
written statement; the sinking tsnd c9mm III
he Bonds Of the city they have purchased up
TO that date. with the coupons belonging
thereto, and the Comptroller In their pres,
shalt cause & be stamped On zach Dop 10
the sinking fund Of the city OF Memphis, and
at the same time shall cancel the bonds and
coupons produced. so as to prevent their iu-
ture negotiation. ana before returning the
ing fund commissioners. he shall record the
same in n book TO be kept BY him fer the pur-
pose. giving number. date Of issue, and date
Of maturity of each bond; f,. ~
shall retain each and every Bond purchased by
them, after being cancelled and stamped as
aforesaid, until It's maturity; and in the mean
time shall collect from the City Treasurer. or
the said bonds SO purchased from time TO time.
AS they respectively NATURE and shall apply
the money SO collected in the purchase of other
bonds of the city in the manner before directed
in reference to the money received of the Tax
Collectors. As soon as the bonds themselves
mature, the Sinking Fund Commissioners shall
file them in the Office Of the Comptroller, 4
Sec. IL. No bond or coupon, after being
purchased by the Sinking Fund Commission
ers, shall be valid in the hands of any other
person, but shall be deemed TO be cancelled
and paid. and the City Treasurer and every
other officer and agent Of the city is hereby ex-
pressly prohibited from paying any such bond
or coupon, except to the Sinking Fund Com
missionors as aforesaid. and II any Tax Collec-
tor, or officer, or agent. pay any such Dond Of
coupon to any other person the payment shall
not be allowed him as a credit. And the Urea
surer, or officer, or agent, of the city, paying
any such coupon, is hereby required to cut the
same from the bond to which it belongs at the
time he makes payment, and the Sinking Fund
Commissioners are hereby forbidden to sepa-
rate the The coupons from the bonds for any pur-
: See. u. II shall be the duty Of the Comp
troller to report promptly TO the General Coun-
ell any failure of the Sinking Fund Commits
sioners to comply with the requirements of this
ordinance, and also any breach Of the pro-
visions of the same, and the Mayor shall i'm
mediately cause such action TO be taken as VIII
secure the rights of the city in the premises.
See Is. The compensation Of each Com.
missioner herein provided for, during his con-
tinuance in Office as such, is hereby fixed at
$50 per annnm, payable quarterly Mt the ex-
piration of each three months. t,-,s.L.a.I
Passed first reading by Board Of Aldermen
June5. 1872. |
Passed first reading by Council June &. 1879. |