The daily Cairo bulletin. (Cairo, Ill.) 1878-1???, 1882-01-26

lEesenl'-ulS nOROr mayor lnlStleW00d
and Alderman Blake, Halliday, Hinkle,
Hughes, Saup, Swoboda and Wood-7.
bsent.-Kimbrough, Patier, Pettit-3.
The Mayor stated the object of the meet
ing to be, to hear report of finance commit
tee and for such general business as may
come before the council
The finance committee submitted the
following report;
To the City Council:
Your finance committee beg leave to re-
port, and recommend as below, respect
ing the payment of claims against the
| city, until funds are in the treasury from
the payment of licenses, and taxes levied
for 1881, available for such purpose.
Under the law of 1879 the issuing of
demand warrants upon the treasury, when
there are no funds on hand to pay the same
prohibited; but, at the same time, pro-
vision was made to permit the issuing of
anticipation warrants against any taxes al
ready levied, ut the time of such issuance
to the extent of rs per cent. of any tax
lev. Such anticipation warrants to be
pad out of said tax levy and not other.
wise; and the portion of taxes to the OK
tent that warrants are drawn against, 10 be
set aside and held for their payment.
Your committee deems it advisable for
the council to take advantage of this pro-
vision of the law, and provide for issuing
anticipation warrants against the city taxes
Of 1881 already levied, to meet the claims
against the city until funds are in the
| treasury against which demand warrants
may be drawn.
Your committee are also of opinion that,
toinsure the receiving of said warrants at
par in discharge Of claims against the
city, the council should provide that in
terest be allowed thereon at the rate of
eight per centum per annum from date of
issuance until paid.
To carry into effect the recommendation
above made, your committee respectfully
submit for your consideration the following
preamble and resolution:
WHEREAS, There is necessity to pro-
vide means to pay and discharge claims
| against the city, until funds are in the
treasury from the taxes of 1881, already
| levied, and from licenses to be paid May
| LIST next, therefore be it
Resolved, LIST. That the mayor and city
clerk are hereby authorized and directed
| to issue warrants against and in anticipa-
| ton of the city taxes OF 1881, are already
levied, in accordance with the provision of
section of an act Of the general assembly
fthe state of Illinois entitled; IAN act to
| "provide for the manner of issuing warrants
"upon the treasurers of any county, town
ship, city, school district or other munich
"pal corporation and jurors certificates.
Approved May 81, 1870 "In force July
81, 1S70," in payment of all claims against
| this city allowed by the council, until de
mand warrants may be legally drawn in
payment of such claims, in accordance with
the act above referred to.
end. That said anticipation warrants
shall draw interest at the rate of eight per
centum per annum from date issued, until
money is paid over to the city treasurer by
the collector of Alexander county, ILL.,, from
the city taxes of 1881, when interest shall
cease on said warrants, beginning with the
| lowest number and Oldest date, to the
amount of any such payment of taxes, and
| if the proper warrants to be paid therefrom
are not presented to the city treasury with
in "a hours from the time any such pay
ment of taxes is made, it shall be the duty
of the treasurer to give notice by publica-
ton that funds are in the treasury to pay
such warrants Subscribing by giving the
lowest and highest numbers of those war
rants that he has funds to pay, and that in
terest has ceased theron And whereby the
city treasurer shall pay any warrants as
herein provided, it shall be his duty to EN-.
dorse on the back of such warrants in ink,
theamount of the principal and interest so
paid, for which total amount, he shall be
entitled to receive credit in his accounts
with the city.
3d. 1t shall be the duty of the city clerk
to charge the principal of said warrants,
against the proper funds in the annual APP
preparation bill, and the interest paid there
on to the contingent fund.
THos. w. HALLIDAY,
PETER sAur, Committee.
Alderman Saup moved that the report
be received and the resolution adopted.
Alderman Wood called for the ayes and
nays on adoption of the resolution.
resolution adopted by the following vote:
Ayes Blake, Halliday, Hinkle, Hughes,
Saup and Swoboda6
Nays Wood.
Police constable's bonse of Hazard P.
Martin and state and city liquor bond OF
Perazzo and zanone we're read for approval
On motion of Alderman Saup approved.
On motion Of Alderman Hughes meet
ing adjourned.
d.. FOLEY, City Clerk.