Savannah morning news. [volume] (Savannah) 1868-1887, 1883-05-10

the matter OF new Jan. presented the
following:
t. The Honorable The Mayor and Atdermea Of
tts Cstg Of lSgcGHHah:
The committee appointed by your honora-
bic BODY 10 confer with the County Commits
siOuers. IN reference to the erection OF new.
jail. beg leave TO report:
That Hpon thorough investigation they have
ascertained that the lots Of land upon which
the present jail Of Chatham eoHnty Is erected,
Z belong II the county OF Lnatham "a long n
the jail remains thereon. and a. soon a. the
same l. removed said lots Immediately revert
10 the city.
present site. and new jail built IN some other
locality in the city Of Savannah, 1t l. neces-
sary for said city 10 assist the county CON-
mis-iOners in said movement.
The Commissioners Of the county Of Chat
ham proposed to your committee that II the
city would give them "a the representative
OF the county the lots Of land upon which the
present jail stands, they would sell the same
! and use the proceeds thereof towards the
! building Of the new jail. which they guaran-
tee to accomplish within two years.
Your committee have carefully considered
the proposition made by said County Com
1nissiOners. and having learned that similar
one was made a number Of years ago by the
Justices Of the Inferior Court OF chatham .
county TO the Mayor and Aldermen OF the
city OF savannah. which was heartily accept
ed. believe it now wise and prudent. and to
the interest Of the tax payers and 10 the city,
10 accept the proposition made by said CON-
missiOners Of Chatham county.
We. therefore. recommend that the Mayor
and Aldermen Of the city OF savannah convey
IN fee simple TO the Commissioners OF Chat
ham county the lots upon which the present
jail Of Chatham county stands. exclusive Of
the extension Of Howard street through said
lots. Respectfully submitted.
J. Z. HAMLET.
DAVID WELLS.
SAMUEL z. HAMILTON.
Z. NJ. GREEN.
p. j. O'CONNOR.
Alderman Thomas wanted some infor-
nation in regard TO the matter. He I'M
derstoOd that the city proposed TO give
away property amounting in value to $40
/ 600. Ii the county would feed and sus-
tain the city prisoners confined in the Jail
thus erected. he was in favor Of the
proposition. otherwise he was not.
Alderman Hamlet replied that such
was the understanding on the part OF the
| county. and he understood the law re-
quired it. The report was received as
information.
I The Committee on Public Buildings re-
ported that they had rented the Office on
the first floor Of the City Exchange, re-
Gently occupied by the City Marshal. to
| the Ocean Steamship Company for $500
per annum. the whole amount Of the
annual rental from said company for Of
fees being 5000. on application Of the
I Savannah Gas Light Company, they
I had also consented TO renew their lease at
: $500 per annum, the time TO run five years.
/ The report was received as information.
ORDINANCES.
I The ordinance providing for the relief
of ground rent lots from taxation upon
/ its second reading was laid upon the
| table.
The ordinance regulating the turning
up of the soil within the city limits be-
tween May 1st and November lst. except
by permit Of the Sanitary Commission,
upon its second reading was put upon its
/ passage and passed, with amendments.
The ordinance, upon its second reading,
abOlishing the Office Of Lieutenants Of
Police and providing for the election Of
an Assistant Chief of Police, was put
upon its passage and passed.
An ordinance BY Alderman Green fix
{ ing the compensation of the engineers OF
the fire engines at $1,000 per year instead
Of 5000. was read for the first time.
J The ATLANTIC AND GULF RAILROAD
BONDS.
The matter Of the Atlantic and Gulf
Railroad bonds was brought before the
I Council, and the following ordinance in
trOduced providing for a compromise Of
the debt:
AN ORDINASCE to compromise THAI portion Of
the bonded debt OF the city Of savannah
known as the bonds of the Atlantic and
Gulf Railroad Company, guaranteed by the
Mayor and Aldermen Of the city of Savan-
nah; 10 provide for the issue Of new bonds
with which to redeem the bonds 50 guaran-
teed. now outstanding; to provide for the es-
Enlistment Of a sinking fund Tor the re-
demptiOn Of such bonds and for other pur-
poses
aldermen Cf tie city Of SdrduH0h, an conn
eli assembled. and IL u hereby OFddiHed ~
the authority Of the same, That the SAID the
Mavor and Aldermen Of the city of Savan-
nah do hereby offer to the holders Of the bonds
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 18th, 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 I
under the provisions Of this ordinance and I'M /
der the authority Of the act OF the General /
Assembly Of Georgia, approved December II, /
1875. and entitled An act to authorize the /
municipal authorities Of towns and cities to |
compromise their bonded debts; TO provide for
the issue and exchange OF new bonds for out 1
standing bonds and coupons; TO provide for 4
the establishment and management Of a sink /
ing fund for the redemption OF such new /
bonds and coupons and for other purposes" I
Of the same face value for any and all Of the /.
above mentioned and described bonds guaran- /
teed by said city as aforesaid, and shall issue 4
for exchange. and exchange new bonds under 4
the provisions of this ordinance. and Of said 4
act Of the General Assembly Of Georgia, for /
fifty eight per centum, the accrued interest /
on said bonds to the lst of July. 1888. the hold
ers Of said bonds taking new bonds for said 1
coupons. and interest at the face value Of said 4
bonds said new bonds shall become due and /
payable thirty years from and after the
first day Of July, 1885, and shall bear interest,
coupons. payable quarterly, at the rate Of
five percentum 3 per cent? per annum; and
each Of such new bonds before II is issued
bv 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
he 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 il to bearer, Z
after which il 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
authorities might otherwise hereafter levy
upOn such new bonds and coupons, such new I
bonds and coupons shall never be taxed by
said city.
thOrifv dtOresdid. That the said Mayor and
Aldermen do hereby create under the author
ltV OF SAID act a sinking inu0 IOF the payment
Of said new bonds, and do hereby authorize
and empower and make II the duty Of the
sinking Fund Commissioners, IN addition TO
the duties prescribed in and by the Ordi-
nance OF the city Of savannah, passed Deem
Der Il, 1873. whereby said commission was
created, TO purchase on the lst day Of Eebru- 4
arv Of each year hereafter, soon I
after as they shall find IL to be practicable, |
until the complete redemption Of the entire
issue) in the manner prescribed by law, bonds
OF the issue herein authorized 10 the face
value Of eight thousand dollars. making their
sight draft on the City Treasurer for such
sums az money a. may be required 10 pay
therefor which sums shall not be considered
a. forming a portion of the sinking fund here
tOfore provided All bonds 50 purchased, with
the COUPONS annexed after having been care
fullv cancelled Dy the said Sinking Fund Com
mi==iOn1. shall be delivered 20 the CITY Treas
urer TO await such final destruction as Ioun-
Gil may direct.
SEC g. And q Il hersbg further ordQiRed w
me authority Of the sGDae, That until bond
holders representing $4,000 IN full value OF
the outstanding bonds Of said city shall have
accented the offer Of compromise hereby
made. and such bonds 10 that amount shall
have been stamped az hereafter provided, the
acceptance Of those reprcsentingsany NUMBER
less than such S50G,V00, in face yalne shali
not be binding beyond the Let dag 81 July u.s.;
which day, unless bOndholders - saiH
amount OF $zO0,000 shall have agreed 70 thls
settlement, those who have 20 agreed shall be
relieved from the same; and, further, that no
new bonds shall be exchanged for old boRds
until bondhOlders representing said tzDJ,W0
al 49, .e.As 4fa