The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1886-03-09
CoUNoIL AND ALDERMEN.
1 Temporary Loan Of $147, 4i0 Authorized on
Recommendation of the Finance Committee.

The Common Council met last night in special
gession. Mr. Thalman, from the committee on
finance, presented the following:
Whereas, The City of indianapolis is In present
need of funds to meet its current running expenses
which for the month of March will amount to the
of 10000. and
Whereas, The city will also need the sum of ST.
440 the LIST of April 1886 meet the interest
certain OF its outstanding bonds falling due on that
day. and
Whereas. The city viii also need the sum of $780,
900 on said lst day Of April to take the time war
rants issued on Nov. 2, 1885 and
Whereas, It has therefore become necessary to pro-
vide for such present necessities to make temporary
loans IN anticipation of the ctys current revenues
Resolved, BY the Common Council and Board of
Aldermen of said city of Indianapolis, that temporary
leans the amount of 147 40 for said city be and
the same are hereby authorized and ordered to be
negotiated as follows Said sum of $40 600 for pres
emit use to be raised upon time warrants of the city
for said amount be issued and signed by the Mayor
and city clerk. due before May IL, 1856, draw
ing interest at rate not exceeding per cent per
mum from date until paid Said sum of 81. 44O to be
raised upon time warrants dated April i, 1856. for
said amount be issued ard signed by the Mayor and
- city clerk, due before May H. 1886, drawing
interest at rate not exceeding cent per annum
from date until paid, and said sun Of 500 600 be
raised upon time warrants dated April l. 1856, for
said amount, to be issued and signed by the Mayor
and city clerk due the first day of December 1856
drawing interest at rate not exceeding per cent per
from date until paid. We recommend the
adoption OF the foregoing resolution.
ISAAC THAIMAN
JOHN r. PEARSON,
HENRY Il. SMITH
JOSEPH HowEs,
j. L. REINECKE,
Council Committee.
LOUIS SCHMIDT,
NJ. L. BROWN,
II. w. LAUT,
Aldermanic Finance Committee.
The resolution was adopted, together with the
following. by MIR. Thalman:
Moved, That the finance committees Immediately
negotiate for and the loan of $40 600. needed
for present use asset forth in the foregoing resolu
ton, not exceeding the rate of interest therein
tnned and that they take such action and advertise
for bids in such way as they may deem proper in
order to the balance of $10 440 at the lowest
rate of interest obtainable, and as to have the
money in New York in time to meet the citys obliga
tons.
Mr.. Rocker, referring to the last meeting Of
the Council, said he had been disturbed some
what by the report of that meeting published by
the Sentinel, which put into his mouth these
words, in his speech ON the subject of bringing
suit on the Pattison bond: II hope the city
would not secure a cent in this suit" Mr..
Rocker said he said nothing Of the kind in any
speech, and nothing that could be so construed
He presented a statement to that effect. signed
by about twenty members of the Council, which
was ordered to be printed as part of the pro-
ceedings.
The following came in from the Board of
Aldermen:
Alderman Brown moved that the Grand Army of
the Republic be invited to open the new city hall
building. when completed, in proper and appropri-
ate manner the proceeds to be devoted to the bene.
of the Indiana soldiers monument fund. Carried.
General Carnahan. being in the lobby, arose
and thanked the Council in brief and graceful
way. remafking that the Grand Army would
open the new hall in q manner that would reflect
credit upon the city and upon the members of
that organization.
The contract and bond of knight & Jillson for
the steam heating of the city hall were referred
to the city attorney and building committee.
Mr.. Dunn moved that the street commissioner
be instructed to raise up the stone crossings from
below the surface to their proper level. Referred
MIR. McGroarty offered the following:
Resolved, That from and after March g. 1886. the
finance comm ttee and city attorney examine into and
each three months to the sucency of the bond of
the treasurer of the city of Indianapolis.
Mr.. Thalman-I think once in six months is
often enough.
Mr. McGroarty-In view of the trouble we are
now having in the Pattison case, it is not likely
often
The resolution passed unanimously. The as
signee of s. A. Fletcher, Harry J. Milligan.
asked the approval of the plat of windsor
Place" on Clifford avenue. Referred.
Mr.. Markey moved that the committee
sewers and drainage be requested to have the
construction of the sewer at the City Hall de-
layed until the committee meets and discusses
the matter with the contractor. Carried.
An ordinance was introduced to provide for
regarding and paving with stone the roadway
and curbing the cutters Of Washington street
from Mississippi to East street. and requiring
the Citizens Street Railway Company to pay a
portion of the cost thereof as provided for in
G. o. Ne. 4. 1884
The council then adjourned.