Daily Republican. [volume] ([Wilmington, Del.]) 1874-1890, 1879-02-21
CITY COUNCIL.
Regular Meeting. Routine Business
Funding the Debt The l.egisIa.
lature to be asked 10 find 5000.
900,

Funding the Debt The l.egisIa
lature tU be asked 10 Gna $500,
900.
A regular meeting of the City Coun
Gil was held last evening and in the
absence of the President, Mr.. Norton
was called to the chair.
Mr.. Guthrie reported the report OF
the Registrar of the Water Department
correct so far as the Finance Committee
had any means Of Knowing.
Mr.. Paynter reported in favor of a
rebatement of s. water tax to Anna r.
All6erdice.
The City Auditors report showed
that $43, ,ol9.l9 lad been collected for
water rents and paid over in the month
of January.
The Street Commissioners reported II
men and 2 double teams employed with
pay roll Of $52.4l.
The Chief Engineer of the Water de-
partment reported pay roll of $l5S,
number of hands employed not report
ed.
Mr., Taylor presented petition num-
erously signed, asking for the establish
ment of fish market on King street,
commencing at Second and extending
towards Front.
Mr.. Moore presented petition from
James T. Bird and others for a lamp on
Seventh street between West and Wash.
ingtbn.
Mr.. Lynch presented petition from
the Weccacoe Fire Company asking for
the full amount of their appropriation
The following resolutions offered by
Mr.. Guthrie at the adjourned meeting
of City Council on Wednesday evening
having been laid over, were taken up.
Resolred, That the committee on leg
islation be and are hereby instructed tc
apply to the General Assembly now in
session for the passage of an act, au
thorizing the City Council of Whining.
ton to issue bonds if possible, at pei
cent, to pay off the floating debt and
the same to be added to the funded debt
of the city.
Resoireel, That (if the law is passed
in conformity with this resoluton) that
the same committee is hereby Instruct
ed to apply to the General Assembly
for the passage of an act tC prevent the
City Council Of Wilmington from crea
ing any more floating debts or expend
ing any more money than the amounts
annually appropriated in the month o.
January, and raised by taxation the
same year.
MIR. Guthrie said it was question
whether it would be better to fund the
debt at 4 per cent or to let it float on.
BY the month of July he said the float
ing debt would be about $500, 900, for
which the city was paying interest at
the rate of s. per cent.
Mr.. Lynch was under the impression
that a motion was pending to refer the
resolution to the Legislative committee,
but being informed of his mistake he
moved that they be so referred with in
struction to have bill prepared to pre-
sent to the Legislature to have the float
ing debt funded at 4 per cent.
Mr.. Taylor thought that the resolu-
ton had better be freely discussed be-
fore reference and let the committee pre-
pare an act afterwards.
Mr.. Hart wanted a tair and fnll ex-
preston of opinion in reference to fund
ing the debt, but for his part he was
opposed to funding it unless check
was put in the bill against creating
another floating debt.
Mr.. McGlinchey, wanted full eX-
preston of opinion. and as Council
was full with the exception of the Pres
ident it might as well be decided now
what to do. He was opposed to funding
if any more debt was created. If this
debt was funded without any check to
create another debt, We would soon
have $50, COO more debt which would
soon be increased to 500, 900.
Mr.. Taylor could not see the objection
to having the debt funded as it as hon
estly created. Council did not steal the
money. 1t was honestly expended, or
at least that is tne supposition and by
funding it at i per cent s., 900 interest
will be saved to the city.
Mr.. Chandler was in favor of funding
the debt as it was at commencement of
the year but he was opposed to funding
$4,000 lie thought that what was
created since the appropriations were
made in January should be met by the
July taxes.
Mr.. Guthrie wanted to know If the
debi was funded and Council prohibit
ed from borrowing, what the city would
do fol money until the first Of July
Mr.. Lynci: thought that the Chair
man of the Finance Committee must
know about how the debt would be
on the first Of July.
Mr.. Guthrie said what was wanted to
pay salaries, fire department, interest
and other expenses indie, pensibie would
run the debt up to S2o4 500 by the first
of July. The present flo ing debt was
81 800.
After further remarks 10y Messrs.
Taylor and Guthrie in favor Of making
the amount 5000, geo to be funded, the
motion offered by Mr.. Lynch was adopt
ed.
The following orders Were drawn:
TO pay interest to bondholders, ST.
4SJ; Anpa Y. Allderdice, s.; Robert
CarswelI, $50. IS; G. Warner & Co.,
S55.07; Robert II. Cook, Sl75; Dr.. J. r.