Telegram-herald., 1891-09-22
DISCUSSED THU BONDS
Opinions Conflict Concerning the
Payment Of the Principal.
THE HILL SALOON BOYD APPROVED
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Inc CITY miners were III IN rntoriool
mood last evening. and ~ the mayos
vas absent and President saundefs
tlled the char. they were inclined 70
playtulness. Considerable business Of
Importance was entered upon. but mudh
of it was left IN an unfinished condition
70 BE- completed next week.
The Valley City Milling Company In.
vited the council 10 meet with repre-
sentatives at the corner Of Bridge-st., 81
| 3 O'Clock this morning 10 confer u,
gsther with the view OF widening the
bridge across tho east side canal on
Bridge-st- Referred TO the Committee
on Brldges.
petition from c. G.. A. voigt and
others asked the council to grant the
right of way asked by the Grand Rapids
railway company AS soon as possible.
Referred To Committee ON Streets. :.
T.. A. Connolly notified the council
that his contract with the city for FUR
nishing naptha lamps was about tn ex-
pre-, and tnat he could not renew il for
= short term at the present rate. lie
agreed TO continue the present schedule
of lighting at 81 cents per lamp each
month. Referred to the Committee on
Lamps. The present rate is 5S cents.
Itinerant Clothiers License.
A communication from the local
clothing dealers called the attention of
the council Of the practice OF itinerant
clothing men who visit the city for the
purpose of selling inferior goods and
thereby causing serious loss to the
legitimate dealers. They asked that
the city place high license upon deaf
ers of this class and to throw around
the buiness such safeguards against
fraud and deceit as will best serve the
interests of the people. Referred to
the committee on ordinances.
The bond of Van Dam & Pollock
were presented and Alderman O'Don-
nell moved lite approval. Alderman
Conger moved as an ameudmen. to re-
fer It to the committee on licenses. The
amendment was lost. Alderman Tur-
application should be filed. The city
attorney thought not. Alderman
Conger moved as substitute that the
bond be rejected. Lost. The bond
was then approved by the following
vote:
Yeas-Aldermen Anderson, Carpen-
ter, Doyle. Emmer, Hauser, Kinney,
Mahoney. Mills, O'Donnell, Stein,
Wurzburg.
Nays-Conger.D .Dregge. Dunton, Frost,
Stokes, Tateum. Turner.
The suretles on the bond are George
Kortlander and Charles +. Kusterer.
The Board of Public Works notified
the Council that the building at the
southwest corner of C1nal aud Bridge
sts. encroachcd upon the street to the
extent of three feet nine inches, and
that the area wall was three feet far
ther north than it should be. Referred
to the aldermen of the Fourth ward.
The board submitted specifications
for the proposed Wealthy-ave. bridge,
recommending that it be con-
structed in a manner similar to
Fulton-st. bridge with four spans,
roadway % feet wide and clear
to height of Is feet, capable of sus-
tanning q load of 27.e00 pounds per
bridge foot, the bridge to nave side
walk on each side six feet wide capable
of sustaining load of 80 pounds per
foot. Placed on file.
Nominating tho Bonds.
The report of tile ways and means
committee III regard to the issuing of
the per cent water bonds. was sub
mitted this time in proper form. The
denomination of the bonds was named
and the duration was fixed at 20 years.
Alderman Hauser moved an amend
ment that the SUN OF $l2 900 be taken
annually from the water works income
fund for the payment of the interest
and TO establish sinking fund for the
paying of the principal.
Alderman Turner made an earnest
appeal for an annual payment of Sl5,-
GOO or $4,000 Of the principai. He
called attention to the fact that the
debt incurred for the old Wycoff pipe
and the late iron pipes which have been
used to replace them, was still unpaid
and that the city should not 20 on
pIling up debts. He said that new
bridge must be built, three trunk sewers
constructed and the money will have
to be borrowed. That the present water
works system was played out and that
within twenty-five years the well sys-
ten would be outgrown and the city
would have TO go elsewhere for Its
water. Every generation should pay
its own debts, and while we are build
ing water works for ourselves, We
should prepare TO pay for them"
Alderman Tsteum said it would be
an injustice to ask the people who are
receiving no benefit from the water
works to pay this tax for ten years or
more. He said that 1t was true that IT
was impossible to tell what the financial
condition might be in twenty years and
admitted that the numerous public inn
provements muet be made, but he
claimed that while these improvements
must be made, the city must be taxed
10 the limit and that for the next five
or ten years the $4,000 year would
be needed to carry on such public
works.
Alderman Stein said that there was q
provision IN the charter for including
IN the budget an annual appropriation
for the establishment of q sinking fund
and considering that fact be did not
wish to make an immediate payment
compulsory.
Very Hard 70 suit
The amendment of Alderman Con-
ger wss accepted by Alderman Turner.
but when put 10 . vote il was lost
Alderman raseum offered an amend
ment that $4,000 be paid in five years.
US, 600 In thirteen years, $i5,up IN
eighteen years and the balance In
twenty years.
Alderman Turner said their would
be no difficulty IN seiling bonds paya-
bic in annual instalIments. but on the
i've, ten and twenty year plan tney
would not be as marketable. Alder
man conger made another proposit.oh
10 raw 500. 600 10 ten years snd ihss