Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1876-05-13

vOrably in his accompanying opinion
The effect Of this ordinance is simply to
repay those who have paid our debts
There eau be no possible misspplicstior
Of funds. / submit the ordinance, with
Judge Walkers opinion, to your careful
consideration and thoughtful Judgment,
JOHN r. FLIPPIN.
The following is the city attorneys
opinion:
To the Honorable General Council Of the city
| Of Memphis:
return an ordinance Of elk sections
authorizing The mayor to borrow one hun
dred dollars FOR tue purpose of defraying
the monthly current expenses OF the pc
lice force and fire departments and the
department OF puOlIc improvements, L
have given the question Of the city's
power to borrow money careful exam
inaIi0n Decisions can be found hold
ing both sides of the question. think
1t has not the power, at least the ques-
tion Is so doubtful as to forbid the at
tempt to exercise it. I think, however,
! without doubt the city could lawfully
make an arrangement by which, st.er
the accounts OF the month have passed
the general council the necessary num-
| Der of readings, aud become a debt Of
! the city, the money might he advsnc ed
to pay off those account, aud the city
| could lawfully contract to repay the
! amounts advanced. have assisted in
the preparation Of the accompanying
ordinance, and I think its provisions
are clearly legal. Very respectfully,
g. P. WALKER, City Attorney.
The following is the ordinance drawn
up and suggestt by the mayor and city
attorney, in lieu Of the one referred to
them by the council:
Section l. That in order to iefray the
current expenses Of the police and fire
departments, and the department of
public Improvements, for the ensuing
month, the mayor is authorized to con-
tract with any person or persons to ad-
vance the amount of and pay off the in.
dsbtedness OF said departments, as the
same may from time TO time accrue and
to repay to such persons as may pay eff
said Indebtedness the amounts advanced
by them respectively, by issuing to them
the warrants Of the city in sums not less
than one hundred dollars, said warrants
to bear interest at the rate Of ten per |
cent. per annum until paid, and pay |
ment Of the same secured in the man. |
ner hereinafter provided. Provided,
that the sus1 30 to be advanced for the |
altogether exceed the sum Of seventy |
Thousand dollars, and the sum to be ad.
vanced for the department OF public i'm
prOvements shall not exceed the SUM OF |
forty Thousand dollar.
Sec 2 The warrants issued to repay |
said sums shall show that they are issued
for the purpose aforesaid, and under this
ordinance by having on lheir face the
words: Issued under ordinance sp-
proved - day Of -, 1876" and in
order TO secure the prompt payment of
said warrants, the tax on m msrchants'
capital for the year 1876, and ali the
privilege tax due January l, 1877, are
hereby set apart and pledged for the
payment OF the sum specified in section
one of this ordinance.
Sec. 3 Tdat EO part Of the revenue
ali ing from said tax on merchants
cspitsl for the year 1876 and privilege
tax FIR 1877, shall be Issued for any
other purpose whatever, and a separate
account thereof shall be kept by the
comptroller, and the same shall be paid
into the treasury and be held and ap-
piled for the payment Of the sums ad-
vanced until said amounts be paid il
ful.
The message and accompanying Gocu-
ments were received and filed, and the
'oint session was dissolved.