New-York tribune., 1876-02-03
NEW-YORK FINANCES.
RADICAL CHANGES PROPOSED.


FOR THE CITY ON CONTRACTS AND ASSESSMENTS
THE CITY DEBT AND sINKI>G FUND.
tyRox THE REGULAR CORRESPONDENT OF THE TRIBuSkl
ALBANY Feb 2-SenatOr WoOdin introduced this
moning bill which radically reorganlzes the fnan-
eial administration of the City of New-iork The
Senator declares that he intends to press it, and is
very confident Of its passage. 1t relates principaly
70 expenditures and appropriations, the issue OF
bonds and the payment of the city debt IL VIII
cut down onehalf the issue OF miscellaneous ponus
for municipal purposes, payable from taxation
and the issue of assessment bonds 10
the same amount. 1t reduces all work
10 contract, and throws many additional
safeguards about the granting of contracts. 1t
makes the vacation of assessments more difficult
and reorganzes the Bureau of Street Openings and
that of Correction and Revision of Assessment. III
provides that the Of the general fund snail
be devoted to payment OF the city debt payaoie
from taxation and that the bonds payable from as
sessment shall be reduced as rapidly as possible;
such portions Of these bonds are charge against
the city to be met by the issue OF consohdled
bonds. The sinking funds for the payment OF pm
eipal and interest of the specific portions Of the city
debt and which already exceed these portions III
amount are made applicable to the entire city debt
aud will receive such revenues as ere devoted 10 te
payment Of the city debt. The following are the
provisions of the bl omitting details of minor I'M
portance aud stripping the Language OF legal VeiOi-
age:
The legislative power of The Corporation now existing
md known nv The name Of The Mayor Aid rmen, and
1ommopay of The city Of NewYOrk,' is vested in the
Common CCuuc consisting o. the Board OF Aderem rs,
be approved by the Aayor or passed over R OaTd yeP
ordinance resolution which involves or requires lne
expenditure or outlay payment Of money shall DC wand
Where the ordinance or resol on relates 10 an expend
ure for which assessment may be imposed the % .M
of The owners OF the property, who shall also be owners
OF fourth of the front feet ON the line 0f inc proposed
sessment can imposed. the head OF the department
,naIl certify that the sApenditure proposed Is f IN
which the same can he PAID ,,., 80 .o,s
mant II NAV be imposed. he hereafter proceeded with.
which will involve expenditure exceeding IN amour.
the OF Sl000OOO un the present I ed
account OF works payable from assessments IeuuceH
10 SsOOOo00 After such reduction s etetea @ mo & S?ah @
shal be authorized for WIch an assessment nay
posed whe eh will At any one time increase the nde9s &
account of such desclpon OF WORK. DeSon" 'he
said maximum sum of T-.ooo,OOO ..,,.. A.,
Within twenty days after the pa sage OF tnis aG, te
pOrtonmcnt statement showing the partlcur Donds OF
stocks o. 6e c ba tS en "e Sr NAV be imposed and
outstanding at that date. And the Board oi Esinae
snd AppOrtlOnment shall authorize the SoniroHer 10
issue consolidated stock sufficient TO pay the portion Of
SAID bonds stocks payable nv SAID eity; a.. l., .
No sum greater than II 100000 shall hercarter IN any
one wear the bonds stocks OF sald eY lOr
execution Of any work authorized by special Jaws
and for which assessment can be Imposed 10 pro
vide further the execution OF the works So authoIeu
II will be lawful Tor the Board OF E,tmats anu AIIo
ment having chdee OF such wofh "a inSiuGc % IN III 'G i
annual estimate such sum OF sums as salu b"sIu MAY III
ue discTetlun determine
PUBLIC WORK BY CONTRACT.
All work the description heielnbefoTe reieTteo 10
sa he performed by contract the terms OF which shau
lie approved ny Counsel the Corporation and en-
tered into by the head the department having charge
OF the execution Of such work. founded on sealed bids
and proposals made in compliance with public notice
duly advertised for at least 20 days in The Cfy record
Before such work is advertised, specifications OF the
some describing the work minuely ana careluiy as
can be done and the in which the same Is TO be
executed and also the material TO be used In s perform
apce sha be prepared by the head of the department
and filed in office Security must nc gwen in ohehh
the amount OF the for the faithful performance oil
The lowest nd shall accepd by the head Of the de-
officer shan within nNt DAYS altci
he bids ae Opcnod eertfy TO the Mayor ana tOhfO,e
,Sst tLa tne same should he rejected II within ten
iays after such ccrtltcaOn the Mayor ana CohtIott
posa La be rejected but il said Mayor aud Controller
refuse or fa within the time Aforesaid 10 9oncur, tLtn
n the lowest rejected or II the accepted puder
i've ~ proHe security TO the saii-fSctiCn
Controller to execute, WITH hls suetts hr COM
where the contract il executed ne sane ls atonod
by contractor, the work shall be geadNertised ana
relet a. herrinbefore provided. ,..,. -. ,,,,
The Gc athicnt, when ne accepts the low
est bid and before entering into any contract shan GER
y to the Controller the expense OF the same IL snail DE
when received by bim before the Board OF sliate ana
by said Beard covering the expense OF the work, the
Controller shall indor~e tie amount Of sueh appOpna
upon certificate of the mead or the department.
advise the department of such indorsemcnI, Nherc
ulJu the contract shall he entered into.
No special appropriation shall at any time he made by
TIE Board OF Estimate and Appcrti0nncu for any WORK
In excess the amounts author1ed by law 10 be eA
before any contract is entered into the person whose
bid accepted satisfy himself TO all mattei- re
laug tO TIE work 10 be performed, ana py entering mo
the contract such ltsaA shl ne eNeuGel iaoh oT'o
after raising any question or clam as 10 OF on account ~
representation by slid Mayor A'trhc.,' ', s
mOnaity The CCy OF Newi"rk, or any oihcer or ON
Of said CITY, in reference 10 any mater OF ,..S r.
lang TO said work No extra "Olk shall NC a"'hoilNeu
By contract ,
CoumouJlty of the Guy uf NewNogk bc liable, aud 10
Judgment can cred, enforced against said ty
beyond the OF the special appropriation made T.
Ioye who knowingly shall include IN any specification
work required, shail certify To the perform
ecuted, OF TO the performance OF the
same in accordance with the provisions Of any contract
wifi. snail be guilty misdemeanOr. Any person who
makes Or gives false certificate a. to the performance
eriuovment and ali ssaly pay due 10 him, aud shall
moi thereafter employed IN any capacity 10y oi on e
baf gi tie said Mayor, Aldermen, ana NomhiOL@4D VI
he City Of New-York. ,.,.-
inspectors charged with tb. duty of snpclintendmg
inspecting, or reporting ulon ny NOlh ns De Ic sous
OF ssIn, having at least hvC years ptci. .,s eAl @
and knowledge OF the particular description ol N"rs
winch they appointed 10 .nrerlntend; ana any he'o
of without due inquiry, apiOIuS t5 al
inspector superintendent Oi any NOrh any person NOT
qualified, snail oe guilty ci m Snr f,Ii "d
who ias O be IN daily attendance shalI have any claim
asHinst the city lcr serN4ces.
IMPOSING AsSEsSMIN1S
No question as to he validity OF any ordinance VI rec
outlo IT OMISSION technical resuarity, shall ahect
the night 10 make assessment on property beHehcd
for the expense Of Of the de scpton for
which OIL assessment II az I've imposed All assessments
hereafter imposed shall made by the Board OF Asses
ors on the certificate Of the head Of department charged