The daily gazette., 1879-02-25
The City Council.
SPECIAL MEETING LAST EvENrNG-THR
CIrYs FLOATING DEBT-A BILL AP-
PROVED TO FUND IT.


PROVED TO FUND IT.
City Council held special meeting
last evening, for the purpose of consider
ing o bill for presentation to the General
Assembly, to fund the floating debt OF the
city, At rate Of interest not to exceed 8
per cent.
In the absence Of President Lichten-
stein, MIR. Guthrie, was ON motion Of
Col. Lynch called to the chair.
His Honor, the Mayer, then read the
call for the meeting, aud at the conclu-
sion, Mr.. McGlinchey, chairman OF the
Committee ON Legislation, stated that on
Thursday evening last the Committee on
Legislation we're instructed TO prepare an
act IN conformity, with the resolution of
Mr.. Guthrie, In regard to funding the
floating debt Of the city.
To conform to the resolution he offered
the following act, or bill, which on his
motion was read:
a further supplement TO an act entitled
an act to limit the debt Of JVumington,
and proride for the discharge thereof:
Be it enacted, by tho General Assem-
bly,, two thirds Of each House thereof
concurring:
Section l. That the Mayor and City
Council of Wilmington shall have power
and authority under an ordinance OF City
Council, to he passed with the concur
renee Of two-thirds Of all the members
thereof for the time ,being to borrow a
sum or sums of money not exceeding In
the aggregate $145, 900 which shall be an
addition to the present funded debt Of
the city, and which shall be appropriated
iaA
OF as may be necessary for the purposes
Of paying the present floating aud un-
funded Indebtedness incurred by and for
the city Of Wilmington, and may issue
bonds thereof at rate Of interest not ex-
ceeding I've per cent. per annufn, which
bonds shall not be subject TO taxation for
city, county or municipal purposes, the
bonds 10 be made payable at such time
or timee, and in such manner rs the Or
dinance may prescribe.
Section 2,-The surplus if any, of the
money borrowed under the authority of
this act, which shall remain after the
payment Of the present floating unfund-
ed Indebtedness of said city of Whining
ton, for which purpose 1t is hereby specl-
fically appropriated, shall be used and
appropriated in the payment Of bonds of
the city Of Wilmington due and falling
due, and the interest thereon, and for no
other purpose whatsoever.
Section 3.-Whenever under the pro-
visions of section 46, chapter 73 of the
Revised Code, an extraordinary appro-
priation shall be made by City Council,
the amount SO appropriated, shall be
paid out of the taxes, rents or receipts of
the year then current, If the same shall
be sufficient; and, in case the amount of
any such extraordinary appropriation
shall be In excess Of the taxes, rents, ORE
ceipts of the said city for the year in
which such extraordinary appropriation
shall be made, such excess shall be pro-
vided for and included in the appropria-
ton made and taxes levied for the sue
ceeding year.
During the reading of the bill, Presi- |
dent Lichtenstein entered and assumed
the chair.
At the conclusion of the reading of
the act, Mr.. McGlinchey said that in or
der to bring the matter before Council
he moved that the bill be endorsed.
At the suggestion of the chair the bill |
was read and adopted by sections, and |
then adopted as a whole.
Mr.. Guthrie said that the Finance and |
Legislative Committees had held joint |
and bad obtained the opinion of |
the City Solicitor, in regard to funding |
the floating debt, and he had given his |
opinion that the Council could not fund |
an antici ated debt, and that was the |
reason the committee had concluded to |
ask for sl45,0O0.
The sections were then adopted, and |
upon the final passage of the bill Mr.. |
McGinchey called for the ayes and |
nays, and before calling them Mr.. Chand-
Ter said that he did not like the bill as
read The Finance Committee ask for |
s145. 900. when s25, 900 of that has been !
provided for. He was opposed to fund
ing any debt but the floating debt.
Mr.. Norton was opposed TO funding |
any debt unless there were some means |
provided tor to prevent future Councils |
from borrowing or creating another |
floating debt After some further re-
marks by Messrs. Paynter, Taylor, Price |
and Chandler, the bill passed by the fol- |
lowing vote:
Aves-M essrs. Adams Chandler, NJ oore,
Downing, Evans Guthrie, Hart, Heusted,
Jones. Knight, Lynch, Walton, McGiin-
chey, Paynter, Price, Rowe, Taylor
Townsend and President Lichtenstein.
Nays-Mr. Norton. Il
Mr.. McGinchey presented ed, and and had
Education, az amended by the joint COM
mittees, and on his motion the Council
endorsed the bill.
Mr.. McGlinchey presented resolu- |
ton setting forth the bills that the Coun- |
Gil had concurred In and asking their |
passage at the hands, of the Legislature,
also asking the Legislature not to pass |
any bill affecting the powers of the May |
or and Council of Wilmington, unless |
first asked for by the Council.
The resolutions were unanimously |
adopted upon the call Of the ayes and /
nays.
On motion OF Mr.. McGlnchey the |
Committee ON Legislation were granted |
the privilege of amending the bill in re-
gard to changing the grades OF streets
without calling . town meeting, by In
serring in the clause that no existing
grade shall be altered or esta aolished
without a two-thirds vote Of Council.
The clause at present reads that the
grades can be changed by majority
vote OF Council. IL
Mr.. Chandler SAID that while Council
was asking the Legislature to pass
number Of bills, he thought that they
had forgotten one thing, and that was
that they should ask the Legislature to
allow Wilmington two members OF the
House and one of the Senate at all
times.
Mr. Taylor said he agreed with the