Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1883-03-25
THE COUNCIL.
The Ordinance for the settlement of the
Old City Debt Passed First
Eeading.
Text of the Accommodating Bids
OpeHed-COmmunie atIOn from
the SOIt0n-6inners.

Eeading.
Text of the Measure-Pavfug Bids
Opened-COmmuni eatIOn from
the COIton-Ginners.
A meeting of the Legislative Council was
held yesterday afternoon al o'clock.
Present-Presideut Hidden and Messrs.
Burke, Liyermore, Gavin, Lee and Cochran.
Engineer Meriwetner submitted report on
The question of paving Monroe street, be-
tween Second and the bayou. He recon-
mended a pavement of 6rst-clsss block
stone, from Second TO Desoto, thirty-six by
94l feet, about 1000 square yards, at esti-
mated cost of $500 He recommended
| rubbe stone from Desoto to the bayou,
| thirty.sIx by 305 feet. about 1900 square
| yards, a. about S20S0. The curbing for the
whole job Estimated at 5000, making the to-
| tai S10,SS0. Received aud fled.
Chief Cleary reported fAvorably GA Thos.
| Bakers petition for the privilege of re-
| shiuslIng his house. Permission given 10
| cover with metal.
! Chief Cleary gave a favorable report on
I L. H. Stewards petition for the repair OF his
store, corner of fernando and Vance streets.
| Permission given 10 recover house with metal.
I The fire chiefs report gave the surround
| ings of the property on which Mrs. G. Burns
desires to enlarge a house without recon-
/ mendation. Permission given TO build house
| with metal rsof
! Engineer Meriwether gave, as an estimate
! for tile drsinage for Second, from Poplar to
I Beale. Sl050. The tile pipes were ordered
| ]. r. FlippIn offered to sell the District
| the iron roller it has been using on the streets
| for the past year. Rsferred to Messrs. Burke,
Lee and Gavin.
An old stable, on the corner of the alley
| on Fourth street, between Washington and
| Poplar, was the subject of = communication
| in which il was declared nuisance. Ordered
torn down.
A communication from cotton ginners,
asking that the city reconsider sections 68
| and GO OF Senate bill No. %. This section
| levies tax Of 1900 on loose cotton buyers.
the ginners pay 800 for the privilege of
running gins, and think the 5000 is unjust TO
both them and the farmer1, who have to sell
ANAL lots of seduction to tue ginners. The
regular ginuers were allowed 10 buy small
quantities Of cotton, keeping name of sellers,
without paying the 5000.
| ]. F. McKeou petitioued for the privilege
OF erecting small frame stable on his
| premises, So Commerce street. Granted,
| provided a metal roof be put on.
Chief Davis, Of the police, requested the
| privilege of printing 500 copies oil his re.
| port. Referred to the president, with power
| to act.
| A resolution was offered directing the
| water aud gas companies to put down pipe
atross Second street every twenty-five feet,
| from Beae to Poplar streets, so that after
the paving of that street the pavement may
not be interrupted. Adopted.
The contract drawn up for the Fertilizer
Company was returned unsigned BY the
company, they claiming that the city de-
manded too much from them.
Woodruff & Co. applied for lease of
| ground lying between their mill and the
river. Mr.. Wellford, OF the Chickassw
C0operage Company, also applied for the
! lease of some of The same ground. The lease
was given at $500 per year for first five, $3.50
per year for the second five, and $1,000 per
year for third FIVE years.
Attorney Heiskell then read the follow ing
ordinance for city debt settlement:
FUNDING ORDINANCE.
SECTION 1. Be il ordained by the Legislative Coun-
Gil Of The TAXING District OF She By cOuny, Tenn, That
in order to carry out the provisions Of The third
| section of an act passed by the General Assembly
of Tennessee on the = day of March, 1888 EMIT ed
An act to empower municipal corporations and
| debtedness and issue bonds for the amount so
| funded and 10 provide means for the payment OF
| the same as COMPROMISED" there be immediately
| prepared two stamps, with the words zone
hs of TINS coupon capitalized, remainder will be
"
be the duty of The Auditing Board provided for in
said act to stamp with said stamp the back OF
eacn OF me SIX coupons, que respectively SIX
years, two and one-half years and three years OF
the January l. 1883, on all Flippin compromise
bouds to be funded under said act, where the ap.
plicsnt to fund desires it. The other OF said
shall have engraved thereon the words zone third
OF this coupon capitalized remainder will be paid
at maturity and with this stamp said Auditing
Board shall stamp each of the six coupons OF said
| ippin compromise bonos to be funded as afore-
| maturing
| -FOUR" -four and one-half' five five and
one half and six" years from January 1, 1888.
Sec. ?. Be ii ft'tte ordained, That there shall be
| engraved or autographed a form of bonds with
sixty eoupors attached. the last SIX of said cou-
pons being for three per cent interest and the six
next to the last coupons being for four per cent.
| interest and the remaining twenty-four coupons
| being for six per cent The form of said bonds to
be in accordance with the form prescribed in the
eighth section of the act aforesaid. The contract
for engraving or lithographing said bonds and
| coupons be made with some responsible firm who
will give bond in the sum of s. for the faithful
performance of the work, the sale delivery to the
and certificate prepared under the oontrsct, and
for the safe delivery, after the work is finished, to
said Auditing Boaru OF the plates or lithogra phi
stones, and it shall be the duty of said board to
destroy the same Immediately after receiving
Them and report their action in this behalf to this
Council.
Sec 8. Be it further ordained, That the following
shall be the form of certificate provided for in the
| seventh section of said act:
s...... COMPROMISE Certificate
This cerIifes that there is due to the order of
This ceTfcat i; issned TSdsl t6 oi
seventh section of act of the General Ass. mbly
of Tennessee, passed March,. entitled IAN
| Act to empower municipal corporations and tax
ing. districts 10 compromise and fund their in
debtedness, issue bonds for the amount funded,
and 10 privide means for the payment of the same
| as compromised" 1t bears interest at the rate of
three per cent for the first three years from date
four per cent. for the next three years and six per
der said act and is redeemabe after six years IN
der said act. This form of certificate shall be pre-
| pared at once, Autographed or engraved, and the
provisions of the second section of this ordinance
| shall apply to them as well as to the bonds and
cou pons therein provided for. They shall be exc
cuLed by the president of the Taxing District and
before signing shall each be properly noted in the
bond registry book, after being passed upon by the
| See. 4 Be Il further ordained, That the Auditing
1 Board Aforesaid shall. provide punch, and it
shall cause every bond and coupon and every other
| evidence of Indebtedness surrendered Cancelled by
| punching hole through each and every of SUCH
| evidence Of Indebtedness in such manner that the
| same cannot be used sgsin, upon such bonds and
coupons and Indebtedness being funded under the
aforesaid act. SAID Cancelled evidences of indebt-
edness said Auditing Board shall carefully pre-
serve. after noting he same to amount, charsc-
| ter and date on bond registry and books required
by said act 20 bs kept by ss1dsboard and turn the
| same over to this board as required by said act;
which caneeted eyidencesof indebtedness sha be
! safely kept by the secretary OF this board until
its further order OF the same.
| Sec. .. Be it further ordained That the - of
| Memphis shall Tor the year 1888, be the deposit
DRY of all the funds collected aud appropria for
| The payment of the interest on the debt compro-
| mise under the act Aforesaid. Said bank snail
| give bond IN the sum OF -, with not less than
Eve good and sufficient SUI cites to be approved
by this council; said bond to be conditioned as
| REQUIRED by The eleventh section of sa d act and
the county trustee shall daily deposit in said bank
| ALI moneys Collected by him under an act passed
al the taxables in the taxing districts and muaic-
qualities in the sta which have compromised and
| funded, or may compromise and fund, their in
| OF March, 1888 entitled An Act TO I'm power mu-
nicfpal corporations and taxing-distIic to com
| promise snd fund their Indebtedness issue bonds
| for the amount so funded, aud provide means for
| the payment OF he same as ompromised,' for the
| payment OF Use interest on me deot SO compro-
report TO the secretary of the Auditing Board and
this board the amounts OF such daily deposits. All
| moneys arlsiag from collections made and to be
made under the act commonly known as the
| "Liquidsting Board Act,' passed April c 1881,
| sha 4 be al once deDosted in said designated de-
pository by said Liquicating Board, required
| by law, aud by any officer collecting the same.
Sec. 6. Be ii further ordained, That all moneys
| shall be drawn from said depository only in the
| manner provided for drawing ny other Taxing
| District funds, to-vit: Upon the warrant of two
| tee, and his check drawn the back of said war
iaut and the secretary shall keep strict account
| OF the same; and none of the funds Aforesaid
shall be appropriated or used in any manner; or
for any other purpose but for the carrying out of
the comprom Sc act aforesaid; provided that the
| expenses of making the same. the books, stamps,
bonds and certificates required by said compro-
acts, ST all be paid out of said fund as well as
| tAry thereof a provided for in said act
see. 7, Be j further ordained That all bonds
| and coupons pa d under the provisions of said
compromise act shall be Cancelled provided IN
| this ordinance Tor compromised coupons, and
when Cancelled shall be safe kept by tie secrstsry
Of the board for the inspection and further orders
/ of this board. But before the same are Cancelled
he shall, under the supervision of the president
note in book, 10 be called the coupon book the
| amount OF each coupon, the bond from which de-
| Iached and the date Of payment.
Passed FIRST reading, and referred 10 Messrs.
Lee, Cochran, Livermore and the attorney.
The Rev. Sam Watson appeared to solicit
the paving Of Unien street, when the people
OF that street subscribe one-third Of the
amount necessary to pave that street from
the bridge TO the Charleston railroad The
Council agreed to pave to Lsuderdale street
when the ci,izens subscribe $500.
Bids Tor paving Second street we're then
| opened. o. b. 2. Piper offered 10 pave At
- To- without plank nsr souar. 80 .