Evening journal., 1889-04-02
ORDINANCES.
4 \ oRDINANcE

A n ORDINANCE
AUTHORIZE THE ISSUANCE OF GER |
TAIN SINKING FUND BONDS OR GER
TIFICATEs OF INDEBTEDNESS.
Whereas, There are now, certain bonds Of
the cityof Wilmington to the amount of S72,-
OOOfalingdue on the lst day of April, "A. D., 1889,
payment of which must be made out or the
proceeds Of the sale of sinking fnnd bonds or
certificates Of Indebtedness, TO be issued ac-
c0rding TO the terms, conditions and
provisions Of AN act TO provide
sinking fund for the payment Of the city Of
Wilmington passed at Dover. February 3,
1855, and the various amendments and sup
plemeuts thereto, and
WHEREAS, The Finance Committee of
the Council and the Sinking Fund Commits
sioners appointed under the provisions of the
! act, aforesaid, have under the powers con-
ferred on them by the said act and the various
amendments and supplements thereto Or
dered TO be issued new bonds of the city OF
/ Wilmington or certificates Of indebtness out
OF the proceeds Of which provision Is TO be
made for the payment of the bonds Of the city
of Wilmington on the first day sf April afore-
| said, and
| cause TO be issued the aforesaid new bonds or
| cert ficates of indebtness under the TERMS
| conditions and provisions of an "act to pro-
vide a sinking fund for the payment Of the
city debt of Wilmington" passed at Dover,
| February p lS55 and the various amendments
and supplements thereto.
Now therefore
Be it ordained by the Council of Wilmington,
SEoTfoNl. That the Finance Committee OF
| the Council and the Sinking Fund Commits
sioners are hereby authorized and directed TO
cause TO be issued in the name of the Mayor
and Council Of Wilmington. bonds or certih-
Gates of indebtedness to the amount of ST.
zoo, which said bonds or certificates
Of indebtedness shall be denominated
"Sinking fund four per cent loan
and the credit of the city is hereby pledged
for the payment of the same.
| al ~ Of n
debtness shall be made similar in form tC
other sinking fund bonds or certificates Of in
deDtedness, and shall bear interest at the rat,
the first days of April and October in eacl
and every year until said bonds or certificates
| of Indebtedness shall be paid.
SECTION 3 said bonds or certificates Of in
debtedness shall be issued in amounts TO fal
due and became payable with any interes
that may be due thereon in manner following
| that is o. say-One of said bonds or certificates
| of Indebtedness for the sum of eight ehOusanC
and fifty dollars to fall due and become paya
| Bile October ]. 1898; one Of said bonds or certi
| hcates of Indebtedness for the sum of clever
| thousand and three hundred collars to fal
due and become payable April |. 1895; one o
said bonds or certificates OF indebtness TO
| the sum of eleven thousand and six hundre,
dollars to fall due and become payable Octo
: Der /, 1895; one Of said bonds or certificates o
| indebtness for the sum of twelve thOusanl
dollars TO II due and become payable Apri
| l, 1897; one of said bonds or certificates of in
debtedness for the sum of twelve thousan
come payable October 1, 1897: one of said bond
or certificates of Indebtedness for the sum O
twelve thousand and seven hundred dollars
fall due and become payable April l. 1898; an
one of said bonds or certificates of indebted
, | ness for the sum OF four thousand and fift
dollars to fall due and become payable Octc
| Der L 1898"
SECTION 4, The said bonds or certificates G
Indebtedness hereby caused to be issued sha
be disposed Of by the Finance Committee an
the Sinking Fund Commissioners agreeably [
the directions of the said The COuncilh an
the proceeds thereof snail be paid to Oh
treasurer of the city of Wilmington. and sue
proceeds shall be applied to the redemption
loans Of the city of Wilmington To the amour
Of seventy-two thousand dollars falling du
on the LIST day OF April. A. D.. 1889, being loar
numbered on the books of the treasurer
said city as 10. IL. ~ and ID
Passed at City Hall March %. 1889.
JOHN &. FARRA.
President of the Council.
Attest: A. F. MESSICK, Clerk.
Mayors Office March -, iSs9.-ReEpectful
approved AUSTIN HARRINGTON,
NavOr.