Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1873-07-24

Authorizing Issuance of Certificate
of Indebtedness for Payments
Made for Nicoison and stone Pave.
ments:
Be il ordained by the General Council Of the
Section i, That the Mayor be and is hereby
authorized and required TO issue TO each and
every person, or corporation, holding the re-
ceipts of the contractors, or OF the city, Tor
payments actually made upon bills or ac-
counts certified TO be correct by the City Engi
neer. for or on account OF the paving OF the
streets and alleys of the city with the Nicol-
SON or stone pevements under the provisions
of the City Charter and the ordinances of
the city charging the cost Of such pavement
upon the property in front of which the pave
ment was laid down. which provisions OF the
charter and ordinances have been held by the
Supreme Court of Tennessee to be unconstitu-
tional and void, certificate Of Indebtedness;
under the seal of the city and countersigned
By the Register, for the amount OF money ac-
thereon at the rate of six per centum per an
mum from the date Of the payment until the
time the said certificate may be redeemed BY
the city. And upon issuing the said certih-
cate Of Indebtedness, the Mayor shall take up
the receipt on account Of which the same Is
issued, and shall cause it to be cancelled and
filed as a voucher in the Office Of Comptroller:
Sec. 2. The Comptroller shall provide and
keep well bound book, in which he shall
register each certificate of Indebtedness issued
under the preceding section, giving its mum.
Der, date, the amount of it. and the date and
amount of the receipt on account OF which II
is issued, and also the name Of the person to
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
1.-THE word registered" and sign II officially.
Sec. g. The certificates Of indebtedness to
be issued under this ordinance shall be re-
ceived at their face value. and INTEREST," in 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 Nicolson and stone
pavements under the provisions ofthe charter
and ordinances of the city, held 1nc9nstltu-
tiOnal and void as aforesaid, but shall not De
receivable for any other debt due or 70 become
due to, or for. any other tax levied. or to be
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 the sum Of, to bear interest
at the rate of six per centum per annum from
the-day of----until this certificate is re-
deemed.
This certificate is issued under the provi-
sions of an ordinance approved the-day
Of--1873, passed in accordance with an act OF
the Legislature approved on the Ath OF March,
1878, authorizing the Mayor to issue GER
tifeates OF Indebtedness to persons holding
receipts for payments made for laying OF the
NicOlsOn and stone pavements In the streets
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 10 Finance and
Ways and Means Committee by Council June
l6, 1873.
Your Joint Finance, Ways and Means Com
mittees TO whom was referred the annexed ord
nance, recommend the final passage Of the
same as now submitted. -t.a II
BE WHITE, JR,
Chairman Aldermen Committee.
JOHN l. NORTON,
Chairman Council Committee.
Passed second reading by Council. June y;
and passed second reading by Board OF Al
dermen June %, 1873.
Approved June %. 1873.
JOHN JOHNSON, Mayor.
Attest-L. X. RICHARDS, City Register.
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