The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1892-01-29
BOARD OF FINANCE.
ToFFIcIAL PRoCEEDINGs.]

Regular meeting of the Board of
Finance neld at the City Hall, Tuesday,
January 10. 1892. at eight O'Clock p. m.
Present-President Edelstein, Messrs.
Allen and Kenny.
Absent-Messrs. Hitler and Peterson.
On motion the reading of the minutes
WINS dispensed with, and they were APP
proved as printed.
PRESENTATION OF PETITIONS AND COM
~MUNICATIoNs.
Petition of Michael Foley for return of
taxes of 1890 paid in error.
Received and referred to the Commit
tee on Finance.
PRESENTATION OF CLAIMS.
Claim of the Jersey City Electric Light
Co. Of SAG, lighting Treasurer's office,
Claim of the Jersey City Electric Light
Co. of $32, So. lighting Collectors office,
December, 1891.
Claim of Hugh F. McLaughlin of $40
for coal.
Claim of Frank McDermott of $50 for
ice to January l, 1892.
dictionary for City Comptroller.
Received and referred to the Commit
tee on Printing. Stationery and Supplies.
OFFICIAL COMMUNICATIONS.
The following communication from the
Corporation Counsel was received and
ordered entered upou the minutes:
JERSEY CITY, January 5. 1892.
Hon. Board of Finance:
GENTLEMEN:-My opinion has been
asked as to whether your Board has the
power to borrow $780, 900 on temporary loan
bonds for the benefit of the Water De-
partment, and in anticipation of water
rents now due and payable but hereafthr
to be collected. said moneys so borrowed
to be used in the payment of bills which
have accrued against said department. l
advise you that you have no such power.
When the present Board of Street and
Water Commissioners were appointed
there was a floating debt of about $414, 900
due from the Water Department to the
general account Of the city, which had
been incurred and gradually increased
during the past twelve years. This debt
had grown out of the long established
practice of the city in paying for all eX-
tensions OF water mains out OF the current
water receipts, SO that when money was
required to pay the interest on the funded
debt of the department the deficiency
had to be made up by loans from
the general account. Finally, relief
was obtained by the passage Of Chapter
265 of the laws of 1891, whereby water
bonds to the amount of $3.50, 900 were
authorized and issued; those proceeds
were paid under the act to the Board of
Finance, and at the same time the
balance of $4,000 was also paid out Of
the current water receipts. This draft
has proved too heavy for the Water De-
partment as now constituted, hence the
application. Under section 1872 of the
charter of 1871 temporary loan bonds
can be issued in anticipation of the col
lection of taxes or assessments for inn
| provenentS, but not for water rents;
| under this section most of our temporary
loan bonds are issued. No construction
of this section can include water rents.
| find upon examination no supplement
to the charter nor any general act author
iZing such bonds in anticipation of the
collection of water rents, except the above
law of 1891 under which you have ex-
hausted you powers, For many years
such differences have been made up by
loans to the water account from the gen.
eral account. which would be repaid in
whole or in part from the water account
during the months of June and July,
when the active work of collecting the
| water rents was in progress and the de-
| partment was in funds.
Respectfully submitted,
"WILLIAM d. EDWARDS,
Corporation Counsel"
Communication from the City Collector
acknowledging the filing in his office,
January 6, 1892, of the assessment map
for the Improvement of Woodward street,
batween Grand street n the Morris
Canal, amounting to S., 423 10.
Communication from the City Collector
certifying to the filing in his office, Jan
uary 6, 1892, of Report No. 76 of the Com
missiouers OF Adjustment, amounting to
ST., 405. 70.
Received and ordered filed.
Annual report of the Board OF Street
and Water Commissioners for the fiscal
year, ending December 1, 1891.
Received and ordered filed.
The following resolutions adopted by
the Board Of Street and Water Commits