Wilmington daily commercial., 1875-05-10
8fn,ppal.
Citu ordinances .
A \ ORDINANCE,

A y ORDINANCE,
Al THoRZlNG 4 loan uT ONE III NDKED
AND WENIi.FlNE THOUSAND pOt LARS
FOR THE CONSTRUCTION OF NEW WA
TER RESERVOIR, IMPROVING the WATER
PURPOSES
WHEREAS. The Act Of the General Assembly en-
Titled AN additional supplement ~ the act, untl-
tied an act 20 limit he city debt OF Wilmington and
10 pro'!l" Tor tie discharge thereof Fasse,.
March l. ISIS, authorized aud empowered the Mayor
aui Council Of " lHlngtou, under an ordinance OF
tie Ilty Council, to borrow a sum or sums Of money.
not exceeding u tile aggregate one Hundred and
iwthiS-fNe Iueusahd Dollars, IN al liion 10 the
funded debt OF the city heretofore author zel, for
new water Reservoir, and tor improving the water
works OF e city, Ani for other purposes IN saii act
mentioned
AND whbRgAs, An additional loan is necessary
for the purpose u CONSTRUCTING AMI onirplttug the
reservoirs ami other conyeniences required tor the
supply Of water to The cily, therefore
ES Z oridiad ~ he cig Council II Bhmniltla, mn
thirds 0fdii The ats|t,+ss thsref eoHcitryinl:
SIC l. The Finaque Committee Is hereby author
Hea and directed TO lse 10 be issued in the name
u The Mayor and Council OF Wilmington bonds 10
the aggregate amount oi one hundred am twenty
rve thousand dollars aud the fath ami credit Of The
eiLy are heIeNy pledged Tot the iaSlnent OF the
same.
SIC 2 san bombs shall he III the faIn now used
lars. or iu mnltiples OF htty no: exceeding ihiry-
ave hundred dollars. aid sial bear interest at the
rate OF six per ctntum per aHnulu, payable semi
annually, oil the first lay a. september anl Inc irst
lay OF Mafei IN each year. clear 81 ail taxes which
may De wed upon the piutlfal or Interest hereof
uy antlpii,t of tbs tate or a. the uiitd states
Sc q me principal of sad bonds 81 ~ be piyA
lie l5 10 of- tp-Vr Thirty i've hui.ife dollars
On the nrsi taF OF september. A. II. eighteen hun
uted and stNrntS-stN, md lEr sam o1 irty.ilsc
hundred 40 lars on the rst 'ay Of September in
each an e'tfy year thereafter. until AMI nclddlng
the its' day of september A. D. nineteen hindFed
and ten ~ ihr remaining sum 90 twent, five nun
dred d liars On the ursi DAY ui September 4 d.
nineteen hundred AMI eleven ard said Dnnls shall
be .aIe' ln series according To the time when iney
siAil sHvelally he puyabie as aforesaid.
SIC :. For tue payment and redemption Gt the
lruclpi. Of ;he detl Whcl may be contracted I'M
def ils ordinantt, there shat ha appropriated ami
apple IN tnr year tlgufeen hundred and seyenty-
siN, ana III e4Ca eryaiter uut aild lnc uding
The year nineteen hundred and ter the sum of thlrty
uNe hlu,irsd dollars. and III the year nineteen hun
lrrl and eleven the -um " twenty-five hundred
DO iars, according % the rliiremers OF the aiore-
sad lrt.
st,. ,. = q money winch may be- borrowed unier
Ui' u oInaAte IS hereby arpra llatei. AMI ST al Ice
app td lu4 appended ioi lhe construction Of new
water reseNeif. improving the water works OF the
lht sup ly ~ Waf-r 10 thu rty ami for such other
pGrposcs and wOrA, designated IN the aiOre-
sad dar
shc .. Ihe Faaar4 committee IS hereby author
H-l. ~ * "it io iu u-- u-e Of SAID aunls by sui
etrplYa or 10 -e Tie same AT public hurt.afi 10 t.
hlsAt7i ilad prov idt ttat 10 pirt thereof mai
ael su-d 0r ~ Tor loss tran tie par value
F--~ ID ai me try lliil, A4y Ia.
aUSHCA MAEIs.
President uf tle ~ t0uu.sl.
A',et Nl ;. HAtE-, C'efk. mayss