The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-01-02
WILL BUY OTHER BONDS.
THE CITY NOT TO PAY sPECULA-
TORS PRICES FOR BONDS OF 1883.

nance for That PurpOse-An I'M
portant Ordinance Touching Upon
the Duties and Powers of the Tax
Assessors Observation-Disclosures OF
Assessors Fixed AT $1,000 and 5000
Additional for the Clerk Of the
Board-The Public Works Commits
sioner 10 Get $4,000 and His Clerk
81 200.
The New Years meeting or council was
an important one. Several matters were
passed upon. including the. fixing of sal
aries OF the new salaried officials.
The salary Of the public works COM
missioner is fixed at $500 and that Of his
clerk at $3.50. payable monthly
The salaries Of the tax assessors and
receivers are fixed at SL20 per annum
each and the assessor acting as clerk Of
the board gets S600 additional
As stated in the Morning News would
be the case council took up the matter
of The difficulty Of the sinking fund com
mission in securing bonds Of the issue Of
1855. and passed an ordinance TO remedy
the difficulty The ordinance is an
amendment 10 the ordinance OF July 4,
ISIS. compromising the city's bonded debt
vannah, Albany and Gulf railroad bonds
by the city. 1t states that on account Of
the high and unreasonable prices at
which the bonds issued under the COM
promise ordinance are held by their own
ers it is sometimes impracticable for the
commission TO purchase them TO the face
value of 5000 as directed by the ordi-
nance, but that it is nevertheless the pur-
al oh
serve the contract made by the ordinance
in its spirit and intent.
As a remedy the ordinance is amended
so that the commissioners are author
lied, when they ind II impracticable. on
account of the high and unreasonable
prices at which bonds are held to OBJ
tain those of the issue of 1888 to the face
value of 5000, TO purchase those issued
in 1879 in lieu. In this event 1t Is made
the duty of the commissioners to have
the bonds of 1879 so purchased registered
in their names commissioners ana TO
hold them as a trust investment for the
benefit of the bonds Of 1883, so that at
any proper time the bonds of 1873 so held,
may be converted into cash for the pur-
pose Of purchasing the bonds of 1883 and
facilitating the complete redemption of
the issue Of 1888 as contemplated in the
ordinance of July 4, 1885 AS the cOu-
pons on the bonds of 1879 held under this
ordinance mature the commissioners Will
detach and turn them over to the city
treasurer for cancellation.
Col. Garrard explained the situation.
lie said that the sinking fund commits
sion had simply been unable to obtain the
required amount of 5000 of the bonds
of 1888. The commission had been offered
S2,OO OF the bonds a few days ago, he
said, at 120 At conference between the
sinking fund commission and the finance
committee of council, Col. Garrard said,
it was unanimously decided that no such
price should be paid, and the ordinance
which had been introduced was the con-
census of opinion of the conference as
10 the best remedy for the situation.
Alderman Faligant said that in his opin-
ion when the city entered into contract
with the bondholders to buy $1,000 of the
bonds each year, there was an implied
contract on the part of the bondholders
to furnish that amount of bonds annual
~ There was no idea then that the
bonds would bring above par. he said,
and the bondholders would gladly have
entered into a contract TO furnish any
amount Of bonds wanted annually at par.
BY unanimous consent the ordinance
was read a second time and passed.
An important ordinance touching the
board of tax assessors and receivers, their
compensation, duties and powers, was pre-
scented from the committee on finance.
The ordinance provides that the board
of assessors shall at once, upon organize
ton, proceed to carry out the duties i'm
posed upon them by the act and the ordi-
nances of the city in pursuance thereof.
They are required to give a bond of
5000 each, conditioned upon the faithful
discharge and performance of their duties.
Each of the assessors is allowed 81 200
per annum as compensation, and the as
SCISSOR acting as clerk is to receive $500
in addition. The board is to have an
Office in the city exchange or at such
other place as the mayor may designate.
The hours of the tax assessors, with the
exception of the clerk, are to be from 4
10 O'Clock p. m. every day, Sundays and
holidays excepted. The hours of the
clerk are TO be from a. m. to ? p. m,
and from TO p. m.
The following powers are conferred uDOn
the assessors: They shall require all re-
turns of personal property subject to
taxation to be made at their office upon
such forms as they may prescribe or APP
prove of, by Feb. 1 of each year, and
every person making returns of such per-
sonal property shall be required to take
an oath that the returns which he is
about TO make are just and true state
Inent of all personal property of every
kind, held or owned by him on Jan.
preceding, or We're in any wise interested
in either in his own right or as parent,
guardian, executor agent or trustee. The
oath is very complete.
The assessors are given full power to
deal with persons failing or refusing to
make returns by placing such assessment
they RAY deem just on the property of
such persons. They are given the power
TO correct false and fraudulent returns
and to double tax parties failing to make
returns. Defaulters refusing to make re-
turns, can on conviction in the police court,
be sentenced to a fine of $50 or imprison-
ment of thirty days, or both in the dis
erection of the court. Persons knowingly
making incomplete or unfaithful returns
or refusing TO make returns are subject
to the same penalty.
The assessors are authorized to enter
stores and other places of business in the
discharge of their duties, but are not al
lowed to enter private residences without
the consent of the occupants The ordi-
nance is very full and complete. By re-
quest Of Col. Garrard, who drew the ord
nance, it was read second time
and laid on the table. The ordinance will
be taken up at a special meeting of coun-
Gil Saturday al noon, when it will be fur
Their amended and completed.
BY instruction of the mayor the ordi-
nance is published in full in to-day's
Morning News as part of the official pro
ceedings of council, for the information
of the public.
The charge for cleaning tubs, barrels
and other receptacles used instead OF
Va ults was fixed at So each by ordinance
The city has been a heavy loser by rea.
son of the fact that the old ordinance
a. lowed property owners using such re
ceptacles to have them cleaned without
cost, whereas the city was compelled tC
pay the contractor So for the work The
property owners had begun to get on &c
This, ana were doing away with vaults
right along in order to use tubs and bar.
rels. They will find this plan rather cost
" now, however
A resolution was adopted instructine