Daily Republican., 1889-03-30
FIXING FINANCES.
LEGALiZiNG SINKING FUND
CERTIFICATES.
City Council Holds a Special Session and
Passes Two Ordinances. The Re-
port of the Law Commit
tee Adopted.

was held last night to complete some
necessary legislation to legalize the ie
suing of sinking fund certificates.
The call for the special meeting wac
read, after which the Law and Finance
Committees reported that there was
nothing In the ordnance authorizing the
issuing OF 72,000 worth of sinking fund
certitlcateB contrary to law and the city
ordinances. The report was adopted,
wnen upon motion OF Mr.. Quinn, the
clerk proceeded to the third reading OF
the ordnance In order to pass Cornell.
When the third section was read, Mr..
| Quinn of red and had read substitute,
providing for the issuing Of the amount
Que In one year In one bond as II WAS all
for one firm instead Of issuing them In q
| hundred or more small bonde.
Mr.. McKenney INDUCED In asking q
number Of raking questions which kept
Mr.. Quinn very busy answering at tunes
with considerable warmth. He wanted
to know where the old boEds were aud
who held them, and thought that they
ought TO be called in before others were
issued. Mr.. Quinn had some trouble get
ting Mr.. McRenney to understand that
nobody knew who held the bonds but the
Sinking Fund Commissioners and the
City Treasurer Tor was it anybody's bust
ness to know who held them, they would
all come in on the first OF April to be re.
deemed.
City Solicitor Turner then took his
turn trying to enlighten the Third ward
Councilman In regard to the operations
OF the sinking fund, and further stated
that Elliott, johnson & Co., bankers,
had requested to have the amounts pay
able in each year issued in one bond.
| Mr.. M Kenney expressed himself as
satisfied with the explanation, and said
he didn't know much about finances,
but he tn ught that If he had any bonds
out he would know who hal them. The
amendment was adopted, and the ordl-
nance rs amended was passed by voc
OF Is yeas. Nays none.
On motion OF Mr.. Quinn the ordinance
as ameDded was sent to the Mayor for
his approval. The Mayor being ia h's
office promptly signed the ordinance,
alter which the President declared 1t q
law of the city.
Mr.. Quinn offered the following resolu
tlon:
"Resolvcd, That the lid Of Elliott
johnson " Co. OF one hall one per centuu
for ler cent. city einking fund bonds L
the amount OF $4,000 be aud is hereb!
accepted"
Mr.. Quinn explained that the attornel
ior Elliott, johnson & Co. had requisite,
that an ordinance be passed legal zlui
the loan before the contract was accept
ed. He moved that the Ie,olutiOn b.
adopted and certified copy OF the ordi
nance Just passed mt 20 Elliott, johnson
y Co. The motion was adopted.
MIR. Baugh OF red resolution instruct
ing the Leeisia i've Committee to urg
the Legislature TO pass that part OF tn
Tenth street widening bill that re ates /
=. distractions at FROM and shipley sti eet
and ~ Fifth and Walnut streets, as irou
pre:eu Appearances 1t looked as II til
Tenth street bill would nol pass.
Mr.. Quinn stated that he would be 4
favor of the bill at any other time, bu
he raised the point OF order that thi
meeting was called for special purlos
and no ot er business could lie transact
ed Tho chair decided the point wei
taken.
The Finance and Law committees re
ported favoratly on the ordinance Il
transfer o. from miscellaneous ex'
penses to the appropriation for sinking
lund.
On motion the ordinance was read ,
third time, passed, signed by the mayo
and announced as law.
Mr.. Bangh as ed II 1t was necessary
for the president Of Council to announce
that an ordinance had been approved by
the mayor before 1t became law oi
whether 1t became law as soon as sign
ed by the mayor.
Var Gus opinions were expressed wher
Mr. Quinn remarked that Council had
better dischar.e tue solicitor and gel
some member to take the position.
Mr.. Roterts asked that the city eollci
tor be heard.
City Solicitor Turner said that an ordi-
nance must be announced to have re
ctiped the mayors Signature, by the
president of Council before i; becomfs q
law. The signsture OF the mayer makes
it a law, but it must be announced At
such by the president OF Council.