Daily Republican., 1879-04-15
SECOND EDITION.
NEW ADvERTIs y mhN rs.

nRDlNANCEs--An ordinance authorizing
~ loan of one hundred and iOrty five
thousand dollars to pay the floating and un-
funded Indebtedness of the City of Whining
ton.
WHEREAS, An act of the General Assembly
OF the State Of Delaware entitled "a further
supplement to the act entitled an act to limit
the City debt OF Wilmington and TO provide
for the discharge thereOt' passed at Dover,
March q. 1879, authorizing the Mayor and
Council of Wilmington, under an ordinance
OF the City COuLcil 10 borrow sum or sums Of
money not exceeding in the aggregate the
sum OF one hundred and forty-tve thousand
dsllars In addition to the present fund ed debt
OF the ciry, which said sum was by said act au-
thorized to be borrowed and appropriated, ap-
piled and expended or 50 much thereof as
should be necessary + r the purpose of paying
the present floating and untunded indebted
ness incurred by aid ior the city OF Winning
ton, therefore
Be 1t ordained by the City Council Of Will
mington two-thir1s oil the mem ers there
Of cOncurring.
SECTION /. That the Finance Committee is
hereby authorized and directed to cause to be
issued In the name of s.The Mayor and Coun-
Gil Of Whining on" bonds to the aggregate
amount of one hundred and tOrty-fi thOus
and dollars and the faith and ere 1T of the
City Is hereby pledged for the payment Of the
same.
SECTION 2. The said bonds shall be in the
form now used for like purposes. shall be issued
IN sums OF fifty dollars or multiples Of fifty not
Exceeding one thousand dollars, and shall
Dear interest at rate not exceeding five per
centum per annun, payable semiannually on
the nrst day Of November and the first day Of
May in each We IT. clear o all axes which may
oe levied upon the principal or interest there.
OF by authority OF any law Of this st ,te or the
United States.
.rl,~ 4 L -t.~vp
be payable as follows, to wit: The sum OF five
thousand dellars on the hrst day of Novem-
Der In each and every year thereof until and
including the FIRST day of November, A. d.,
1904; and said bonds shall b, issued in series
according to the time when they shall sever
lily be payable as aforesaid.
SECTION 4. For the paym Mt and redemp-
tion OF the principal of said bonds there shall
be appropriated and appli in the year A.
d., 1884, the s m Of We thousand dollars, and
In each year there ifter until and including
the year A. d., l9Oi the sum of seven thous-
and dollars.
sEcr ON s. All moneys which may be bor-
rowed under this dinance or 80 much there
of as shall be necessary are hereby apprOpria-
ted and shall b. applied aud expended in the
paym of the present floating and uni1nded
Indebtedness OF the City of Wilmington. The
surplus OF any monies borrowed under the au-
tbority of the aforesaid act of the General AS
sembly and f this ordinance, which shall re-
main after the payment Of the said floating
and unfunded Indebtedness OF the City of
Wilmington, shall be used, and appropriated
in the payment of the bonds Of the city OF
Wilmington due or falling due. and the inter-
est thereon. and for no other purpose or pur-
poses whatsoever.
SECTION 9 The Finance Committee is here
by authorized in its discretion to dispose of
said bonds by subscription, or to sell the same
at public auction to the highest and best bid.
der or bidders.
Passed at the City Hall, April 10th, 1879.
M. l.. IlCHrENSTE1N,
President.
E. B. FRAZER, Clerk OF the City Council.
apl5.2t