The Kenosha telegraph. [volume] (Kenosha, Wis.) 1860-1888, 1885-02-27

Moved by Aid. Jacobs to allow, which
carried.
Committee on Whitaker Engine &
Skein Co. bill granted further time.
Contracts allowed Mrs. Skivington,
rent, Sc; r. S. Whitaker, one quarters
salary.
City of Racine poor account, $4.85,
allowed under suspension of rules.
Committee on Fire Department re.
commends the confirmation of John
Zeivers, First Assistant Engineer
Michael Link, Second Assistant.
Report accepted and adopted.
The Committee also reports the re-
fusal of III. Goergen to serve as Chief.
The Council waits for action by the de-
partment.
The Committee on Charter Amend
ments reports having, pursuant to In
structions, forwarded the following
Bill to enable the City of Kenosha to reduce
the interest ON its Indebtedness by funding OF
exchanging the present bonds OF said city fol
bonds bearing a lower rate OF interest.
The people Of the State of Wisconsin, repre-
scented in Senate and Assembly, do enact as
follows:
Sec /. The Mayor and Common Council OF
the City of Kenosha are hereby authorized and
empowered to issue new bonds for the purpose
of funding or exchanging the same Tor the pres
ent bonded Indebtedness of said city and retlr
ing all its outstanding bonds to an amount not
exceeding the principal of the bonds OutStand-
ing against said city at the time of the funding
or exchange hereby authorized.
Sec. g. The bonds issued under this act shall
be numbered consecutively from one upward in
the order of their issue. shall be signed by the
Mayor and City Clerk of said city, and shall be
sealed with the corporate seal shall bear inter
est at the rate OF not to exceed four per CEN
| per annum, payable Semi-annually; shall have
semi-annual interest coupons attached, and BIZ
made payable in not to exceed twenty year.
| from their respective dates. Such bonds shall
be in sums OF fifty, one hundred and one thous
and dollars, and principal and interest Thereof
shall in terms be made payable at some bank il
l the city Of Milwaukee, Wisconsin, or New YOrl
City, or at the Office of the City Treasurer a
Kenesha, Wisconsin.
| Sec. 8. Such new bonds shall be sold for no
| less than their face value, and the proceeds
shall be only used for the discharge of the prin
cipal of any of the present outstanding bonds 0
said city, or may be exchanged Tor the prlnclpa
of any of the present outstanding bonds of th,
city at par value of each, and in no case shall
the bonded indebtedness of said city. be in
creased by such sale or exchange, nor shall an,
amount OF the bends hereby authorized be soil
| unless an equal amount OF the principal OF tn
present outstanding bonds shall then become
payable.
shall annually levy tax sufficient to pa
!, the interest on ali the outstanding bonds a
the same shall become payable. All moneys re
ceiyed from the collection OF such taxes or froT
the sale of such bonds shall be strictly kept as
special fund, and shall only be Paid out for tn
purposes herein prescribed, and for 10 other
Sec. 3. This act shall take effect and be i
force from and after its passage and publication
Report accepted.
i Complaint Of NJ. Harkins u.s. Alt
Zens filed, presented and read.
Aid. Reynolds moved that the Cler
be ordered to summon Aid. Zens to az
pear at the next regular meeting to sho'
} cause, if any exists, why his licens
7 should not be revoked.
Seconded and carried
i Aid. Reynolds moved the appoin
ment of special committee, consistin
of Mayor simmons, Aid. Grant an
J, Lewis, to confer with the bondsmen [
5 A. Schoffen, committee to have power
: settle. Seconded and carried.
: The Finance Committee was instruc
e ed to destroy all cancelled orders oyt
one year old.