, 1876-02-22
CITY CERTIFICATES.
Obadiah Jackson's Opinion us
to Thoir Invalidity.
Reasons by Which slo Is Forced
10 That Conclusion.
Decisions in Other state9.--The
Low In the Case.
The Comptroller Defends the Legal
ity Of the Certificates,
Ind Says They Werc Issued Under an Oil
Ordnance Authorizing Tempo.
rary Loans.
ie Expresses His Regret at Criticisms
Which He Thinks Sayor Of
Reputation.
What tho Ban11crs Think of These
Certificates.
They Believe Them Invalid, but Think
They Will DO Paid;
Putting Their Trust In tic Honor Of tile
People Of Chicago.
Ind Says They Were Issued Under an Old
Ordnance Authorizing Tempo.
rary Loans.
He Expresses His Regret at Criticisms
Which He Thinks Sayor Of
Reputation.
What tho Ban11crs Think of These
Certificates.
They Believe Them Invalid, but Think
They Will DO Paid;
Putting Their Trust In tic Honor Of tile
People Of Chicago.

People Of Chicago.
1-.,.rx 1r.--,.-
NVAt'U, an,s1,s " y, o
Following ls tho ran f .s1. Of tho .s., opinion M Of
certificates OF indebtedness Of tho City Of Chica-
~ sditorIn1 mont,nn or vbic,, ves r,nAo In s,tu.
days TRIBUNE:
s1nLEr, 0nioAno, Fab. !, ls'G.-,joIn il. iIaauIo,d
IT, Yor noe ineoang 2 % isers . tron Ms-n Messsss. sman
paTrett lnd ether parties, ngttirR ~ to tho s.ld
. sue darR s III seer !, seceysa r. .e
THE oEnT1YlcArE,
which haye examined, md which L. s,mllar in form
svn,t, UNITED sIA1Es of AMERICA. Do,,cr,
s7ArE or ILLINOIS,
,,,,,t., XIX Gtg q ,s cnaGa9e;; anta:9o; e.,.,,
,ages to owe the baseock Msnufleurins Company tue
sum o. ono hnha1fa M ena 2i.loo dost law
ss = as I'D ssna
iaetur1n or ofaer on the 1ft o. June, In
No }sar lsao sTitnoat G' graee} 4 tho ose @ e
!lereop. at tho % 5s!s Ct Ie1 eept pcr anngEn from
5an. u. lse. Ihis iosn havnE M been authorized see
y q as9 .na ~ ~ nG a 81 Leo
tho atato q lllinoss Aaeadng tho city charter, sp-
Of tho eaid city have tgned, and The Clerk counter
Imsd sse pfeae1 ~ an sassa ~ . Gorno,ats ; sca;
q tho saa GS 10 bo 1efe1so anfe lhis l9ll day Of
,..-.. = r,.,uu III ~, ,,!t HAYES, Comptroller.
y easMed ny tas css Comptrollsr at these Ger
tcses sfe s1hoFs1cd M ~ y! mo amendments 10 tao
lacssss, to,w BY Sce 70 q tbo aot Of the General
as,smp'Y o1 feo' H. 'oos "n'ea +" IN LILO 1oho"lh8
'osas tTo r.ovae for MONTH, or an, other payments
which shall layc been authorized by tho Common
Council. and required 10 b. mads At any tnc lcfose
ier may viii the eauctlon oE tho Mayor and Fiusnce
com,nlttee, horrow tha necessary money for tima
Dy 6ac. of tho act Of April 10 1866 tia time was
Thsss aet. md .mendme,is to tho city charter aro
Ill prior to tbs Constitution Of the Stats Of luoa al
a1 IL sss aas. ana s Ill., s. s otssRS s9dss s*
lcts Incompatible With or prohibited by she new Con.
stitution ate rcFested nr rcnterc. void thereby.
.Dss: ~ - - AA' - 'Ae l'@ -'A''a''A - "' '0''
NO county city townenr, school tstrtct, or ether
s5sa ID .a ar ~ ssy 70 % ~
amount including existing !ndohtedness N the A.
s1e pf1 Il as ~ e
assessment fef ssats 1na 19un.y s1es r1s.og: 70 to
rnc my ndettenesa - aforesaid sti.t hefore or 1t
reet aanua, tx Sufficient 10 Iny tho iercst on suc
principal thereof within twcny years from ho siiuo Of
contracting tho hA1ne."
II Is admitted BY tho Comptroller That tho amount Of
Tho funded debt eoutruced previously to tue 4dpptjon
cago exceeds per ccutut on thp Yan OF thn taxahls
pfopefty 10 sad ety; and tho oneatou rtescntoI t.
xhshar ilr isuinr or cao nnftiicates thn civ ~
rhicaEo becomes Indebted in a tnhnncr prohibited by
ihe foregoing sectot1 Of ths Constitution. -
Thn noatinn aaa,,mnd nv i,c rifv ia thak thesc rr
udcates aro - WV ~ ~ >'t-' 'N~N' '@1'
IssUIp AuAHsr TIE 1Ax-LryY or TIE orunt:sr
49,. u,.. ., YEAR,
aaa .astI ssn M % sM9s1 sA1s ahsll 20 eouocsod the
@ @ % 70 .ae,f sna ios