Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1878-01-16
Letter from Richmond.
IC,rrt spondence of the Alexandra Gazette. !
RICHMOND, Jspuary Is. 1873.

IC.r,, spondence of the Alexandra Gazette.
RICHMOND, January Is. 1873.
Ia the House, to day. Mr.. Mushbach pre-
sented the foI!owiog, whi,h was r'fsrrcd to the
Committee 90 Fiaance -
Az ACT to authorize the City Council of Alex,
dris to compromise the dsbt Of the city, ana
to issue bonds in accordance with the terms o.
such compromise, and prescribing the mooe
in which the payment OF the 1nterest on suca
bonds may be enforced. :,
Whereas it appears that the City Council OF
Alexandria is unable, even st tne present hlgn
rate of taxation. upon fall assessment OF the
property within the city of Alexandra TO meet
Inc sccruipg Interest on tho debt Of thst city,
And at the same time make provision for the or
binary e1 penses Of the municipal government,
and has asked its creditors to assent to COM
p1 ose of said debt at the rate of fifty cents on
The dollar Ct principal thereof, to ths end that
the municipal government may be maintained
and The debt 40 arranged as to bring the aggle-
gate interest thereon within the ability OF the
tax payers to meet it by reasonable taxation ;
therefore,
Be it enacted by the General Assembly, That
the City Council of Alexandra be, and II Is
hereby, authorized and empowered to call IN
the outstanding bonds and evidences OF every
description whatsoever owned or held by per.
sors who may assent to said compromise and
surrender their bonds and evidences of lndeot-
edness, and to issue to such person IN lieu there.
of and in exchange therefor registered coupon
bonds for one half Of tho principal OF the securl
ties SO called in and surrendered, but the arrears
of interest on such securities shall be compro-
missed or settled upon such terms and IN such
manner as may be hereafter agreed upon Do
tween the said City Council and the persons 10
whom the same msy be duo.
2. The bords issued under authority Oh ms
act shall bear date the 1st day of July, 1873
and be payable thirty years after their date out
redeemsble at any time prior thereto at tho
pleasure of the City Council They shall bea'
interest at the rate of SIX per centum, pagan
semi-annually, on such days and at such places
as the City Council may prescribe, and the ssla
City Council may give such liens upon The n u,
nicipal property and the revenues derived
therefrom to secure tho prompt payment OF the
interest coupons ct tie ssid bonds as It may
deem proper.
The interest coupons Of the bonds hereby
authorized to be issued shall be receivable 81
and after maturity at their face value in pay
ment of all taxes, licenses, gas bills. lines, 1eatS.
debts and demands due the said City Council,
which shall be SO expressed on their !see. and
for all these purposes they shall be on the ssme
footing with current funds. Neither the said
bonds nor the sid coupons sh Ill bs taxable by
the said City Council whether hsid or owned oy
said residents or non residents Of the city, which
| hall also be so expressed on their face.
4. The said City Council snail cresta sink,
ing fund to be applied to the redemption ard
payment Of the bonds issued under and By su.
thority Of this act, and shsll annually, unit!
such boz ds are paid, levy and collect tax, the
proceeds Of which shall be paid into tho city
treasury to The credit of the sinking fund.
The Circuit and the Corporation Courts of
the city of Alexandria or any State Court which
may have general jurisdiction IN that city IN all
have jurisdiction and power, should defauEt be
made for thirty days in the payment OF the IN
terest on the bonds issued under this act. or any
part thereof, upon the application OF the owners
of the unpaid coupons for such interest or any
one or more of said owners, to compel tho City
Council by mandsmus to levy and collect tax
sufficient to meet ali the interest thus due on
Euch bonds, and to pay such inte!e3: as soon a.
the money shall bereceived. Should said CITY
Council fail or refuse to levy aad collect the
lax before said within thirty days after the man
damus commanding it to do so should have been
served, or in the event of the resignation of the
members of the City Council, or majority OF
them, or the corporate authorities, to evads the
service Of process in mandemu:, Or to avoid the
levying OF said tax, Inen thu said Courts or the
judges thereof vacation Ehsll hsve power TO
levy such tax and to appoint one or more com
missioners at a reasonable compensation, to col.
lect 1t By distress or other process provided,
however, that no tax th all be levied By thu said
City Council, OF By asid Courts, OF tn Judges
thereof, alta rate in excess Ct one dollar aLd
seventy.fve cents per annum on every hundred
dollars Of the assessed value OF ihs rca and por-
sonsl property in said city.
G. None Of the proviEions OF this Get shall up.
ply to any creditor Of said city who does not &C.
cept the terms Of said compromise a2d exchange
his securities hereunder, nos shall said Courts ~
the judges thereof have any jurisdiction under
this act, except in favor Of those who arc holders
of the coupon for interest on the bonds he'coJ
authorised to be issued.
This act shall be in force from its passage.
There was in this Gig a few days sioce paint
er, who is deserter from the u. S. navy. He
was ship painter on board Of the Huroa when
that unfortunate vessel went do8a. H. was
one Of the few who went ashore, and when be
reached the main land be struck cut for North
Carolina AID never came near the naval au'
thorities. He had enough-cf the 0avy. lie
had only been 10 two months when the ship.
wreck occurred. .-.---l
MIR. LAWS E. Harvie, the member Of The
House of Delegates from Amelia, stated in a
speech yesterday that an experimenting
convict was school teacher in his couo!y.
Mr.. Nicely. the late accon p!ished member OF
the House of Delegates from Accomac county,
was on the floor Of the House to. day. lie was
the swftest speaker 10 the House ever known
there.
Railroad Accident.
dreadful railroad accident occurred last