Evening star. [volume] (Washington, D.C.) 1854-1972, 1873-01-13
srECIAL iSsrSSuENTS IN THIS
DfsEzsIS~C.

purposes.
BE a: enacted. Dc, That tie Commissioners Of
tie Sinking Fund of the District of Columbia,
Guly appointed under the laws OF said District,
lie, and they are hereby authorized TO issue re-
gistcred or coupon bonds of the said District OF
columbia, not 70 exceed the amount of two mil
lions of dollars, in denominations of ifty dol
lars, or any multiple of that sum, bearing inter
est rot to exceed six per centum per anuum.
PAYABLE scmi-annuaily in gold, and having a
period 70 run. not more than ten years. nor less
t!2n four years; and the said Commissioners are
hereby authorized To negotiate the sale of said
bonds at their discretion, at the rate OF discount
not 10 exceed three per centum upon their par
value; the principal and interest of said bonds
to be payable in the city of Washington, or the
CITY OF New York, and the proceeds of the sale
OF said bonds shall he deposited in the Treasury
OF the District of Columbia, and shall be drawn
out only rs is hereinafter provided.
See ? That the Board of Public Works shall
be required to deposit with the Collector OF
Taxes and the Comptroller OF the District of
Columbia duplicate certificates OF indebtedness.
provided for by section three of act o. the
l., gisiatiVe Assembly OF the District of Column
b.a, entitled IAN act prescribing the mode of
a>,e : IleHt for special improvements, and pro-
yisliHg fer the collection thereof" approved
August 10. ISL, and upon making such deposit
of said certificates, the Board OF Public Works
shall Ice authorized to draw upon their warrant
a. i now provided by law, upon the treasury of
sad District, the proceeds of the sale Of the
lends herein authorized tn be negotiated to the
amount OF the certificates of indebtedness thus
deposited, and in all cases. where certificates
OF ihdebteeness, as provided by said third sec
ton heretofore issued, have been sold. uelro-
said Eoard of Public Works, the said Board
shall report the number, description ami
amount OF each certificate to the Comptroller
and Treasurer aforesaid, and the Governor of
the District of Columbia shall notify the holders
thereof that the payment of the principal and
interest OF said certificates will be made on pre-
sentauon thereof TO the Treasurer OF said Dis
tIlct, who Is authorized and required to paw the
same, and deposit said certificates with the
Comptroller OF said District but i'm all cases
where such certificates have been ne 90
uatcd by the Board OF Public Works
AMI the consideration therefor has been
paid ID them. the said board shall net be
authorized to draw any money from the treasury
for said certificates. The Governor of the Dis
trict of Columbia is directed To cause to be pub
lished IN two daily papers of the District of Co.
lumbia daily for two consecutive weeks, and
give such other notice as may be Necessary. to
INTERN The holders thereof that the said certif-
Gates, negotiated as aforesaid, will be paid on
presentation To the Treasurer of the District of
Columbia; and unless said certificates are pre-
sehtCd Tor redemption on or before the 1st day of
July, 1858, they shall cease 10 draw interest
thereafter; and in TO case shall the board of
public works or other officer or officers proceed
to sell the property against which the assess
Iient and said CeItlIicate exist, except as is here
matter provided.
Sec. 5. That the certificates of Indebtedness
issued under the provisions Of the act OF the
Legislative Assembly aforesaid shall be PAYABLE
az the office OF the Treasury of the District of
Columbia in four equal annual mstalmcnt, from
the date OF said certificates, with interest at he
late Ol 10 per cent. per annUm until paid. AMI
they shall be and constitute a first or preferred
lien upon the property against which they shall
he issued; and If at the expiration of the said
period Of four wears from the date of the certiti
cate OF indcbteindss the same shall remain i'm
whole on in part unpaid. il shall be the duty of
the Governor OF the District of Columbia 20
cause the said property to be sold a. in the case
of the sale Of property for the non-paym ant Of
ether taxes. providing that anv person owning
property aganst which such certificates shall is
sue, his agents or other person for him, may NJ
any time before sale, pay the whole OF anv iu-
stalment of said assessment and interes; thereon.
and shall receive "A receipt therefor. taI pr7-
rided further, That the owner OF such real e.
tate "a snail have been sold for the non plvuant
OF the certificates aforesaid, shall have the
hight 10 Iedeem the same within one year after
the date of sale, by paving the amount of the
purchase money and fifteen per cent thereon.
together with all costs attending the SAM.
And prOriied further, That in no case shall the
property aforesaid be sold for less than will he
suihcient to pay said assessment with interest
and all certificates.
Sec. I. That the Legislative Assembly of the
District OF Columbia il hereby empowered 10
cause to be levied upon and collected from all
taxable property within the District OF Column
bia, tax annually, which shall be sufficient Ia
pay the interest upon the said bonds and to
create sinking fund sufficient to retire said
bonds at maturity, the said tax to be collected
AZ the same time and in the same manner a
general ANIMAL taxes are collected in said Dis
trict- And the Treasurer of said District shall
pay over 20 the Commissioners of the Sinking
Fund OF the District OF Columbia upon their
requlsltion being first certified by the Auditor
and Comptroller of said District, as is now pro-
Nided by the laws OF said District. all the mon
les collected by virtue of this act, or which NAV
be pad in on said Assessment cert lcates
OF indebtedness, with which the said
moneys the said commissioners shall nav or
cause 10 be paid the interest on the bond; am
uthoIized by this act, and the residue of sad
moneys shall be used by said commissioners to
purchase. retire and cancel the said bonds: and
the said commissioners shall report their action
To the Register of said District, and to the Leris-
iatVe Assembly at the commencement of each
regular session; and the Treasurer of said Dis
ulct shall also report weekly to the Comptroller
aforesaid in detail the number and descriptiOn
of said certificates OF instruments thereon which
may be paid.
Sec. 3. That the said bonds shall be issued in
the name of the District of Columbia and shall
show that they were issued for the purpose of
antlci pating payment OF special assessments
under the act aforesaid and said bonds shall be
signed by majority OF commissioners aforesaid
and countersigned blythe comptroller and register
OF said District, and a proper registry shall be
kept in the Office of the register of the number
denomination, date of issue, and to whom issued
Sec g. That all acts and parts of acts of the
legislative assembly of the District of Columbia
inconsistent with this act, be, and they are
hereby, repealed, and in other respects an
proved.