Savannah morning news. [volume] (Savannah) 1868-1887, 1883-07-06

AhS bhil'tAAiS taH BA"s ~ ~
JOHN K. HAMLET,
Chairman Com. on Streets ana Lanes
Report adopted.
The Committee on Public Sales and City
Lots, to whom was referred the petition of
Mrs. Margaret A. Martin, asking that a deeo
be made from the Mayor and Aldermen to
her of the west one-half of lot No. wesley
ward beg leave to report IN taV9r OF Sne
Ch'rm'n Com. on Public Sales and city Lots.
Report adopted. 80
The Committee on Pubic SAFES anu Clly
Lots beg leave to submit the accompanying
letter from the City Surveyor as the report q, %
said committee on the petition of r. W Russell
p. J. O'CONNOR,
Charm Com Public Sales and City Lots.
alderman OCOnnor:
DEAR SIR-If Mr.. Russell will furnish me
with an extract from the records OF the court
showing the number and portion OF the IOt
awarded Mrs. Hart. in the suit against MT.
SwOll, / believe there will be no dlfhculty IN
locating the lots. Respectfully, rr
JOHN b. HOWARD,
CITY Surveyor
Report adopted
The Committee on Docks and Wharves
were granted further time 10 report on petl-
tion of Savannah Cotton Press Association.
The Joint Committee, to whom the petltloh
of W. Il. Sturdevant, agent, was referred
report that they have been unable 10 hnu any
conveyance to the city of the portion Oh Mont
gomery street, referred TO IN salu Petlelon;
and they recommend that the same be opened
through said property, and would fuftheT rec
ommend that the value of the land be deter
mined by arbitrator, to be appointed, one Dy
city, one by Mrs. Sturdevant, ana the tIhrel;
by the two so appointed. The report oil sald
arbitratOrs to be submitted to the Mayor IN
conjunction with the Committee on streets
and Lanes, and Committee on Pubic sales
and city Lots, with power to accept or REJECT
S'''' JONI r. HAMLET,
Chairman Joint Committee.
Report adopted.
ORDINANCES.
Ordinance read in Council Tor the nrst tlme,
June q, 1888. read a second time July 4, 1883,
placed upon its passage and passed.
ORDINANCES ON THEIR FIRST READING.
By Alderman Hamlet
ing or swimming in the Savannah and Ogee-
chez canal within the limits of the city OF
Savannah.
Atdernaen OF the city Of Sa0Gnndh, IN Council
assembled, and IL is hereby ordained By the az
thOrity Of tie same, That from and after the
passage of this ordinance it shall not be law
full for any person or persons to SWIM or battle
in the Savannah and Ogeechee canal within
the limits of the city of savannah.
SECTION 2. Be it further ordained by tile az
MOrity aforesaid, That any person or persons
bathing or swimming in the aforesaid canal
within the limits of the city of Savannah
shall, on conviction thereof in the Police
Court of the city of savannah. be fined in
sum not exceeding one hundred dollars or I'M
prisoned for not more than thirty days, either
or both in the discretion of the Mayor or act
ing Mayor presiding in said court.
SECTION 3. Be 1t FURTHER ORDAINED by the GH-
th0Ftty df0reSG{d That all ordinances or parts
of ordinances conflicting with this ordinance
be and the siHne are hereby repealed IN so far
as they so conflict.
Ordinance read in Council for the first time
May 8, 1888, laid on the table May %, 1888,
taken from the table, read second time,
amended and passed July 4, 1888.
AN ORDINANCE to compromise that portion of
tIoh no., fl.aH AaIxt 81 ha az tn Of 90 oh
known as bonds of the Savannah, Albany
and Gulf Railroad Company guaranteed by
the Mayor and Aldermen of the city of Sa
vannah and hamlets thereof; to provide for
the issue of new bonus with which to re-
deem the bonds so guaranteed now out
standing; to provide for the establishment
of a sinking fund for the redemption of
such bonds, and for other purposes.
SECTION l. Be ID ordained By the Mayor and
Alde,mea Of the city Of SaUaR@dh, IN C0un-
eli assembled, and 1t is hereby ordained by
the authority Of the same, That the said the
MayOr and Aldermen of the city of SaVan-
nah do hereby offer to the holders of the bOSdS
of the Savannah, Albany and Gulf Railroad
Company guaranteed by the Mayor and AL
dermen of the city of savannah and hamlets
thereof. as authorized by public meeting of
the citizens of said city held May I4th 1859, the
following compromise settlement of said
bonds and accrued interest: That the
said Mayor and Aldermen shall issue
for exchange and exchange new bonds
under the provisions of this ordinance and I'M
der the authority of the act of the General
Assembly of Georgia, approved December II,
1873, and entitled IAN act to authorize the
authorities OF towns and cities to
their bonded debts; to provide for
the issue and exchange of new bonds for out
bonds and coupons; to provide for
the establishment and management of a sink
ing fund for the redemption of such new
bonds and coupons and for other purposes"
for each one thousand dollars of said bonds so
guaranteed and all coupons on the same (the
coupons being those due January, 1871, July
1877, January, 1873, July, 1878, and January,
1879, and all interest due thereon up
to the first day of July, 1888, thirteen hun
bred dollars Of said new bonds, which
said new bonds shall become due and
payable thirty years from and after the
first day of July. 1888. and shall bear interest,
coupons, payable quarterly, at the rate of
five percentum Is per cent? per annum; and
each of such new bonds before 1t is issued
by the city shall be registered in the office of
the City Treasurer, and shall have certified
thereon by majority of the Sinking Fund
Commission that all conditions precedent re-
quired by law, and by the contract under
which the bonds are authorized to be eX-
changed, have been complied with; and each
of such bonds may also be registered, at the
option of the holder, after being exchanged,
in the office of the City Treasurer, which
registration shall be certified thereon by said
City Treasurer, after which said bond shall
be transferable only by Endorsement by the
said registered holder to the transferee, unless
the last person in whose name it is so regis
tered shall transfer and assign it to bearer,
after which it shall again be transferable by
delivery; and such new coupons ana new
bonds. as they mature, shall be receivable, at
their par or face value, for all taxes and
other dues to the city of Savannah; and as
such reduced rates of interest are made for
the purpose of being, and are considered by
said corporate authorities as the equivalent
of any and all taxes which the SAID corporate
might otherwise hereafter levy
upon such new bonds and coupons, such new
boil
said city.
SEC. :. And be it further ordained 6y tie
authority OF ne same, That all said coupons
with those due January LIST, 1877,
which have been removed from said guaran-
teed bonds and not produced Herewith at the
time they are presented for exchange, shall be
paid for at their face value by the holder Of
such bond before the exchange is made to en-
title the party holding such bond to the terms
Of this compromise and the exchange here
under.
SEC. 3. Ind be 1t further ordained 6gthe dU-
'hOrity aforesaid, That the said Mayor and
A Aldermen 90 hereby create under the author
ty of said act sinking fund for the payment
If said new bonds, and do hereby authorize
and empower and make it the duty of the
sinking Fund Commissioners, IN addition to
.he duties prescribed in and by the ord-
nance of the city of Savannah, passed Deem
Der II, 1878, whereby said commission was
treated, to purchase on the LIST day Of Febru-
arv of each year hereafter, or as soon |
after az they shall find il to he practicable,
until the complete REDEMPTION of the entire |
ssue), in the manner prescribed by law, bonds |
IF the issue herein authorized to the face |
value of six thousand dollars. making their |
sight draft on the City Treasurer for such |
sums of money as may be required to pay |
therefor, which sums shall not be considered |
rs forming portion of the sinking fund here |
,CfOre provided. All bonds so purchased. with |
he c0upons annexed t9fter haying been care
iully cancelled by the said Sinking Fund Com |
shall be delivered to the City Treas
lrsr to await such final destruction as Coun-
I'll may direct.
he authority Of the same, That until bond |
holders representing 100000 in full value of |
The outstanding bonds of SAID city shall have |
accepted the offer of compromise hereby |
have been stamped as hereafter provided, the |
acceptance of those representing amy number |
less than such s200,000, in face value. shall |
not be binding beyond the LIST day OF July, 1884:
On which day, unless bondholders to said
amount of 100000 shall have agreed to this |
those who have so agreed shall be |
relieved from the same; and, further, that no |
new bonds shall be exchanged for old bonds |
until bondhOlders representing said 100000 |
shall have accepted this compromise.
SEC. 5. ana ii as gVtHther Ordained by the |
authority Of the same, That upon each bond, |
and the coupon thereto attached or apper- |
tanning. presented by such bondholders as |
accepted this compromise, unless they be re-
deemed by said new bonds, shall be stamped, |
printed or written respectively; .'Ihe
holder of this bond and the coupons
accept the compromise offered by the city of
Savannah as set forth in an ordinance passed
18th day of July, 1888, which ordinance is here
by made part of this contract" and on each
coupon thereto attached there should be
stamped or written "Compromlse under ordi-
nance of city of Savannah. dated - day of
1885,"
PETITIONS AND APPIIoATIoNs,