The Wilmington daily Republican. (Wilmington, Del.) 1890-1902, 1892-04-02
a N oRDIN ANcE.

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An ordinance to provide for the bor-
rowing of two hundred thousand dollars
for paving and improving the streets and
avenues OF tue city of Wilmington.
Whereas, by an act of the General As
seintfy OF tue etnte of Delaware, passed
at Dover May is. A. ID. 1891, the Mayor and
Council of Wilmington was horized
and empower ed to borrow an ordi-
nance OF the Council to be pa sod with
the concurrence OF two-thirds OF all mem
bers thereofror the time being, a sum or
sums of money not exceeding ia the ag-
gregate flve hundred thousand dollars, to
be appropriated, applied and expended
for paving aud improving the streets and
avenues OF the city OF " ilmington, and
to issue bonds OF the said Mayor and Coun-
cilof W ilmingtun for the payment there
OF, with interest," at such times and in
such manner Ms the said the Council shall
by ordinance prescribe and appoint; and
Whereas II isfuuher provided by said
act that any and all stms of money bor-
rowed under the authority OF the said
net shall be borrowed by the said the
Mayor and Council of Wilmington at
such time and in such amounts as the
Board OF Directors of the Street and Sow
er department OF the City of W ilmlngton
may direct provided that lii no event
shall the amount to lie borrowed under
the provisions OF said act exceed the sum
OF two hundred thousand dollars in any
one year; and
Whereas, The said hoard of Directors
OF the Street and Sewer Department. in
co IIfurIntty with the provisions of said
act, did on February 10. A. d., 1902, re-
quest the Mayor and Council of VIII ming
| ton 10 proyide by ordinance for the bor-
| rowing OF two hundred thousand dollars
| for year 1892 for tho paving and improy-
| ing the streets and avenues of said city,
and to authorize the issuance oil bonds of
| the said the Mayor and Council OF Will
mington for payment or the sum of mo-
ney SO to be borrowed,a copy ofwhich said
| request has been presented to the Coun-
| c and flied among the records thereof.
Therefore, In pursuance and by virtue
of the power aud authority OF the said
act of the General Assembly in that be-
| half,
lie It Ordained, BY the Council Of Will
mington. two-thtrds OF all members tn ere
oil Concurrlng thefein
section |. That Immediately after pas
sage OF this ordinance there shall be is
| sued in tho name of the Mayor and Coun-
| ell of Wilmington bonds to the amount
| OF two hundred thousand dollars in the
| aggregate. such bonds shall DO issued
each for the sum OF $50. or multiples
| payable in the manner following to wit:
| Twelve thousand one hundred ana sflfty
dollars, part the cof. on the first day Of
/ October, A. ID. 1918
| Forty-three thousand nine hundred dol
lars part thereof, Oh the LIST day OF April.
| A. u, 1919
Forty nye thousand two hundred aud
fifty dollars, part thereof. on October LIST
| A. il. 1873.
| Forty.six thousand six hundred dollars
part thereof, on April list. A, u. 1890
| Forty-cishi thousand and tltty dollars
| part thereof, on October LIST, A. ID. 1870.
/ Four Thousand and Ilfty dollars, part
thereof, on April Ist, A. ID. 1921.
| Such bonds snail be denominated Will
mington city Bonds and shall bear inter-
est at four a. per cent. pr annum, paya-
Bile seml-annnaliy on the lst Gay of April
and october in each and every year after
the date OF The issue thereof; and shall be
signed by the Mayor and cOuntefsiRned
by the THY Treasurer aud City Auditor in
the same manner as other city bonds, and
tine record thereof kept ny the city Audi
tor and City reasurer respectively.
Section :. The Finance Committee OF
the Council are hereby authorized and
directed Immediately after the issuance OF
the bonds provided Tor by this ordinance.
to sell ana dispose OF tho eare to the
highest and best bidder therefor, and to
the best advantage 10 the city, and the
proceeds OF such sale shall be received by
he Board OF Directors OF tho street and
Sewer Department; aud shall be placed
upon special deposit to the credit OF said
dcpartnc in such bank or trust COM
pany in the city of " iminRton as shnl bs
determined by the said hoard. All orders
or warrants for the payment OF money to
he drawn against said fund shall be sign
ed by the president OF said board and
couutera!gned by tho city Treasurer and
| City Auditor. and shall have specific d
thereon the words: Paving and lnnprov-
rant or order for the payment of
money shall DO drawn against said fund
| except it is Tor the payment for work
done in paving aud improving the streets
and avenues oIthe city OF W iininEtott.
An ordinance to provide for the bor-
rowing of $500, 900 Tor the paving and I'M
proving Of the streets and avenues of the
City OF Wilmington.
Passed at the City Hall March II, 1892.
N. II. BENSON,
President Of Council.
Attest: A. +. MEsSfGK, Clerk.
Returned approved March ~ 1892.
WIFI