The herald., 1894-07-31

present depressed times. Messrs. Geb-
hart, Slauson and others followed
Mr. Slauson stated he was in favor OF
widening the street, as he believed it
was for the good OF the city and tho
abutting property. The fact that Figu-
eroa street was q wide street WAS the
prime reason for the advance in value
on that tnoroughfare.
Mr.. Rhodes then moved that the city
engineer be instructed to prepare an
ordinance for opening Broadway. The
motion was adopted.
In the North Main street paving mat
ter Mr. Smith moved the proceedings be-
adopted and a new ordinance OF inten-
tion for sidewalking the east side OF
North Main from Ann to Marchessault
streets. Ordered was adopted.
On motion of Mr.. Munsen the city at
torney was directed TO bring suit to quiet
title to Sixth street from Figueroa street
to the west city limits. The award on
Palo Alto street improvement at the
morning session was reconsidsred and
sent back to the board OF public works.
CITY ATTORNEYS REPORT.
On July 10Th you instructed me to
condemn for park purposes quite g
number OF lots containing between 200
and 300 acres. do not know how
much the city will be required to pay
for this land, but the amount will cer-
tainly be go large that you cannot pay
for it out OF the ordinary revenue of the
cisy. which will necessitAte the issuing
OF bonds for park purposes Section
1851 Of the code OF civil procedure pro-
vides that in condemnation suits the
amount of damage muht be paid within
30 days after final judgment. Owing to
the time necessary to call an election
and to issue and sell bonds we would be
unable to raise the money in that man
ner within the 80 days prescribed. Con.
sequently suggest that the matter OF
issuing bonds be submitted to the peo-
pie before these actions are commenced.
By 30 doing we might avoid useless ex
penditure OF costs and avoid casting a
cloud upon these landa by the con-
demnation proceedings which might
prove unnecessary in case the people re-
fuse to sanction the Issue OF bonds.
An additional reason for this is the
| TACT that we are now prosecuting con-
domination proceeding for the purpose
OF acquiring the necessary land for head
| works for syetem OF water works to be
owned by the city, and the cost of which
| would advise you should provide for
in making your levy, or else include that
amount in the proposition to be sub
mitted TO the people for the issuance Of
bonds.
REFUNDING SCHEME.
/ While upon the subject of the finances
of the city. + desire again to call your
attention to the suggestion made about
year ago as to reminding 1915 900 of
the city's bonded indebtedness, which
is now drawing much larger interest
than that which we would be required to
pay upon funding bonds. II we sold the
bonds at the same rate OF interest as the
bonds last Issued we would save $4,000
annually in the shape OF interest, be-
sides saving s6S75 per year in the amount
to be raised for payment of the principal.
These bonds having been issued under
the provisions of the old constitution,
we are required to pay one-twentieth
part OF the principal each year, whereas,
| If issued under the constitution as
amended, we are required to raise
only one .fortieth part each year,
which would make difference in the
amount to be raissd each year of s6S75,
making o total saving each year OF
! $10,775. 1t has been urged that the cost
OF an election will amount to at least
$1,000, but believe that the premium
would amount to as much as the cost OF
an election. but even il it did not it cer-
tainly would be good inveetment tc
spend $1,000 in order to save $40, 900 q
year for 20 years at least. Laid over
until Tuesday afternoon.
In the matter of the demand OF John
E. jackson for $500, the engineer hav
ing heretofore made report virtually tc
the effect that this land is private prop
erty, | would recommend that the de.
mand be allowed and the deed accepted
and placed on record. Adopted
AS instructed, | herewith present or
dinance for the appointment OF nine
deputies in the tax collectors Office fol
the months ending November let
Adopted.
As directed by you, / have also Drawn
and present herewith a new ordinance
regulating the oil we'll matter. Laid
over until Tuesday afternoon.
recess was taken until this after
noon st 2 O'clock