Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1873-06-25

Authorizing Issuance OF Csrtincate
of Indebtednoaa for ray mems
made for RtcOlsOn and stone Pave
mentss
Be 1t ordained by the General Council of the
City Of Memphis;
Section ]. That the Mayor be ana u hereby
authorized and required 10 issue 70 each ana
every person, or corporation. holding the re-
ceipts Of the contractors, or OF the city, lot
payments actually made upon bills or ae-
counts certified to be correct BY the Oity Enfi-
neer. for or on account Of the paving 81 the
streets and alleys Of the city with the Nicol-
son or stone povements under tho provisions
Of the City Charter and the ordinances OF
the city charging the, cost Of such pavement
ment was laid down, which provisions Of the
charter and ordinance have been held by the
Supreme Court OF Tennessee 10 be unconsttn-
under the seal Of the city and ceuntorsigned
by the Register, for the amount Of money ac.
tualy paid upon such receipts, with interest
thereon nj the rate OF six per centum per an
time the said certificate may be redeemed by
the city. And upon issuing the said certih-
cate Of indebtedness, tho Mayor shall take up
the receipt on account Of which the same is
issued, and shall cause Il 10 be cancelled and
filed as a voucher in the Office Of Comptroller;
Sec. 2. The Comptroller shall provide and
keep we'll bound book, in. which he shall
register each certificate Of Indebtedness issued
Der, date, the amount Of II, and tho date and
amount Of the receipt on account OF which II
is issued, and also the name OF the person 10
whom the certificate is issued, and succint
description Of the property in trent Of which
the paving, for which the, payment shown by
the receipt was made, was laid down, and shall
indorse on each certificate before its Issuance
the word registered, and sign u oihcially.
Sec. 3. The certificates of indebtedness to
be issued under this ordinance shall be re-
ceived at their face value. and interestin pay;
ment of any tax that may hereafter be levied
by the city Of Memphis to cover the entire
cost Of the laying of the Nieolson and stone
pavements under the provisions OF the charter
and ordinances of the city. held unconstitn-
tional and void as aforesaid, but shall not be
receivable for any other debt due or TO become
due to. or for. any other tax levied, or 10 DC
levied, by the city of Memphis.
Sec A. The certificates to be issued under
this ordinance shall be substantially in the
following form:
The city Of Memphis is indebted to-
or order in tho sum Of, TO bear interest
at al the rate of six per centum per annum from
the----day of--until this certificate IS re-
deemed.
This certificate is issued under the proyi-
sions of an ordinance approved the-day
of-1S73, passed in accordance with an act Of
the Legislature approved on the 24th of March,
1878, authorizing the Mayor TO issue GER
tificates Of indebtedness TO persons holding
receipts for payments made for laying OF the
and alleys of the city, and is receivable only
in payment of any tax that may be levied by
the city of Memphis to cover the entire cost OF
laying the said pavements under the proyi-
sions Of the charter and ordinances Of the
city, which have been held by the Supreme
Court to be unconstitutional.
Witness the signature of the Mayor and the
seal of the city this-day Of.
-. Mayor.
Attest: -, City Register.
Sec. s. This ordinance shall take effect and
be in force from and after its passage.
Passed first reading and referred to Finance
Committee by Board of Aldermen; passed
first reading and referred 70 Finance and
Ways and Means Committee by Council June
16, 1873.
Your Joint Finance, Ways and Means Com
mittees 10 whom was referred the annexed ord
nance, recommend the final passage OF the
same as now submitted.
BE WHITE, JR,
Chairman Aldermen Committee.
JOHN L NORTON,
Chairman Council Committee.
Passed second reading by Council. June ~;
and passed second reading by Board OF AL
dermen June %, 1873.
Approved June Is, 1873.
JOHN JOHNSON, Mayor.
Attest--L. r. RICHARDS, City Register 90,