Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1879-05-02
COMMON COUNCIL.

received and read.
IAN sot to Gcofp. and reilly an &C; Ct thu
Ceuersl Assembly OF Flt2iuia. approved Feb
1uary 81. 1879, and to authorize the Irepart'
tiuu aui ls.us Of boods and certificates Tor ar
rrars # iuttres: 10 accordance with the terms
uhsrcol," vas receised from The Board Alder
meg, apd o. The motion CT Mr.. L1thau, the
ac,ion Of this Board upon said oct, on the 30 b
o! A,rii 1879 was r. cJosidcrcd. ard the llth
SEC ion CT the said act, amended by striking out
the words 'nioo bundred" and iDsertiog 10 lieu
thereof the words eight huodred ADD tlty,
and ty striking out the words "oneteeo
tse0tieits" AID iosertiDg.in lieu thereof the
words three fuurtha," and baiog resd for the
third time, was passed by the following vote ::
Ayes-Messrs. Latham, Adams, Slanotoo,
Br1ders, Flckio. Erchbarg. M,L,an. b 1aus,
Hill, Su0ot AID Mr. Preaideat, II Noes
zone.
The Board then sdiourned;
Tes!e JAMES K. CATION. Clerk.
An ACT 10 accept and rarify an Acs Of lbe
Gzueral Assembly OF Virginia, approved
February 27, 1879. and to au!hor:zl the
preparation aud Issue OF bonds and Sertifi
cates-!or arrears OF ioterest, 10 accordance
with the terms thereof
/. Be- it cnacied by the City Council OF
Alexandria, that the Act Of tho General a.
s~mby OF Virginia. approved February 27-
1879. entitled "Ao Act to authorize the city Of
Al-x.rdia to compromise tho debt 81 the city
AID to Issue bouds 10 accordance With th. terms
IF such c,mprom,s, and pr, s.rblng the mode
10 which the pa7mcot OF interes: &C such bonds
m.y be enforced, be, aud the same hereby IL,
10 si CT its parts and provisions, accepted, ra!'
I'D. ard confirmed.
. The bords provided for 10 said Act shall
be payable TO the ptr5on il whose name they
saud registered upon the books CT the cry Or
10 bis order
8. The said bonds shall baar icterest at the
rate Of three per oeut. per snoum. Tor the
period of fifteen years from the Il -it day of ug,
1879, aod from the expiration Of said period Of
fifteen ysais, shall b.ar interest at tho rate OF
three aud sky five per caot. per annum uotl.
their maturity.
+. To each Ct said bonds shall be annexed
tax receivable coupoas, conforming 10 all par.
;iculars to tho requirement CT said Act, and
representing tho scui snuual Interest Gu, %
sid bonds uullI their maturity. al the rates
hercia prescribed. Said coupons SHALL DO pay
abe 90 the 1t dag of January AID July 10
each year. 10 bearer, at til, off 30 OF the City
Treasurer.
s. Tue rrresrs OF interest upoo the bonds. or
certificates ct stocks Of tho city OF AleXandla,
norT duo. or which may become due % the first
day Of jay 1879 sha!! be- !uoded into certif'
si!rs, wEcu presented 10 sums Of thirty d0ll,;s
or ulutiFl.. thereof a5 follow: Said certificates
shall bear date the lst day OF July, 1879, aud
stall esch represent one fifteenth of thu amount
20 pres ntci fnr fuo5iog, aud one OF said c:i'
,b,l ho hi ba HnU Of Il n
10 zach year alter their date uDrl al OF said Ger
fife .:cs shall have been paid. Each Of end c,r
liGcates shall a!so represent interest at the rate
cf FIVE pr cast Ter s0uum upon the 10
s,a!mcut. or certificates uopaid at tie date oi
is maturity. Said certificates, With the interest
Gua thereof, shall be receivable at and after
maturity, ut Their fac; value, 10 payment Of sill
isxes, licouses. gas bills fues. rents. debts aad
demands due tic said City CouEcil which shall
be 50 EXPRESSED 90 their face.
G. Apy peIso1s who funded their bonds at the
rae Of ify c.Ds 10 tho dollar, and received
hon1s under the act of February twentieth,
1873, may surreDder slid bonds and receive 10
lieu t5eteot, the coupon bonds provided Tor 10
this act, 10. the full amount Of the principal
Of tie bonds originally surrendered and funded
III DIR the &C. OF 1878.
]. The Mayor SOD Auditor are hereby gu
til lriz ID and directed to cause to be prepared,
engraved or 'ithographed, registered boods. With
c,urous, % provided for 10 SAID act aid this
ordinance, Which shall cJuforu 10 all respects
to Tic provisions tf said act AID It this ordl
nsrcc. eDi when prepared shall COMMENCE the
ISSUANCE Ct the sano 10 lieu Of and exchange
for tho bonds ard certificates of stock contem
plated by said act, but 20 bond shall DO Issued
Tor auy other purpose than that of refunding
the present debt of the city. The bonds shall Do
signed by the Mayor, President Of the Board
of Alderman, and bs couuter.lgned By the hu
dror they shall b. sigued by the persons 10
cffica Eheu said bonds are actually Issued, no
signatures upon said bonds shall be engraved
or Ii .hugraphed, except that the signature ct
the City Treasurer 10 offc, when said bonds
are prepared, shall be engraved or Autographed
upon the coupons annexed to said bonds The
Mayor shall afix 10 said bords tho corporate
seal, bu, no bonds shall be sealed until acu lily
needed for delivery to the holders OF tho pres
cnt bonds or other evidences of debt.
8 The Mayor and Auditor shall also cause
to be prepared certificates as provided for 10
section five Of this act, oud shall commence
the issuance Of the same for tho purposes coo
t. % plated by said section sud nooo OF her. Said
certificates shall BE- signed and sealed 10 all
respects as provided 10 section ssven of this act.
O. Said bonds and certificates when prepared
shsl be q. once delivered to the City Treas
uter by when they shall be safely kept
He shall deliver them 10 the Auditor as
they ire needed Tor purposes ct exchange;
keeping 10 a boz K 10 be provided for that
purpose tie respective tunbers and amounts
I said bo5ds or certificates aud the dates of
their delivery, With the Auditors receipt. there.
for.
10. |; shall be the duty Of the Mayor and
Auditor to register 10 book 10 DO kept by
osch ofihem. the amount Of each bond or Ger
i6c,te issued, The date Of its issue, to whom
i.su, d. for what bond certificate If stock or
COUPONS iesued. and to gee that 90 bocd is un-
lawfully issued Upon the surrender OF any
Of lh. prest OF bonds or certificates OF stock or
coupous 10 be fuuded, it shall be the duty Of
said officeri to c,ncel by permanent leQlole
sisup or mark, 10 the presence OF each other,
The bonds, certificates CT stock or coupons so
Surrendered
They shall make full report 10 the City
Council monthly Ct all bonds or certificates