The herald., 1897-03-23

D. Rowan asking that tax sale and as
| sessment be cancelled affecting lot 4,
| block 2, Sycamore Grove tract, for the
| reason that said property was situated
outside of the limits of the city at the
| time the assessment was levied, we rec
omend the same be granted and the city
clerk Instructed to cancel and redeem
of record said tax sale No. 1919. So or
dered.
In the mater Of refunding the bonds of
1881. $4,000 at per cent. and the three
serial issues of general improvement
bonds, $4,000 at 8 per cent total $780,
900, we find from the city attorneys re-
port, referred to this committee by
your honorable body. that that official
has secured the necessary legislative
enactment to enable the issuance OF
valid bonds with which to refund the
above described bonded Indebtedness
as soon as the will of the people has been
expressed as favorable to such action
From a cursory canvass of the sub
ject your committee is inclined to regard
rate of 4 per cent per annum as a
proper rate of interest to be named in
the new bonds, payable semi-annually;
the issue to be forty-year serials in char
acter. with provisions for the retirement
of one-fortieth of the principal each
year.
The marked benefit to be derived by
the substitution of new bonds is OBJ
vious when ii appears that saving of
about $500 per month will result in the
matter of interest, while there will also
be obviated an excessive tax levy during
the next ten years. required to meet
these bonds as they become due. As
they now stand. payment should be
made within ten years, while under the
Wnllld he
distributed throughout the next forty
years.
The desirability of immediate action
is emphasized by the loss of $3.50 for
each days delay in the fruition of this
plan.
1t therefore becomes the pleasure of
your committee to recommend, In Keep
ing with the recommendation of the city
attorney. that an election be called at
the earliest possible date for the purpose
of submitting to the people of this city
the question of issuing refunding bonds
to the amount of $170.000 at per cent, S
above outlined.
In the event Of the inability of the city
attorney to present the necessary or
dinance herein at the regular meeting
of your honorable body when this re-
port is read, we recommend that an
adjourned session be held for the pur-
pose OF IahlIlS dCblOil O. viz SuA A4~S~ -
sible date.
The city attorney stating that the or
dinance could not be prepared before
Wednesday morning, 1t was decided
that when the council adjourn 1t be to
that date.
THE POLE NUISANCE.
The following resolution was read by
the clerk. having been laid on the desk
without any name being attached:
Whereas, There are pending before
the council of the city of Los Angeles
applications for an electric franchise
ard for telephone franchise. asking por-
mission to conduct wires throughout the
city limits by means of poles; and
Whereas, TIE board of public works ir
their report submitted to this body this
day have recommended that franchises
be granted without the use ofpolesiof any
character, except poles OF electric rail-
ways, within a district to be known as
the conduit district. the limits of which
are described in said report; and
Whereas, 1t has become matter or
public necessity that not only no new
poles should be erected within this con-
duit district. but also that those now in
use within that district should be done
away with;
1t is therefore moved, as the sense of
this council that the city attorney be
instructed to draft an ordinance provid-
ing for the removal of all poles now ex-
listing within this conduit district with
in one year, and also providing that no
additional poles be erected therein.
Councilman Baker moved to amend
by making the boundaries of the conduit
district Temple, Broadway, Main and
Fourth streets, which motion was duly
seconded.
Councilman Hutchison thought the
district too small, and should embrace
the wholesale district on Los Angeles
street, where most of the fires had taken
place in the last few years.
On the understanding that the poles
of the electric railroad company should
be excepted, Mr.. Bakers amendment
was voted down and the original reso-
luton adopted.
Henry O'Melveny made a personal
statement in regard to his position on
the AllenStaats electric franchise, and
Councilman Mathuss went on record as
being opposed to granting any fran
chise which would increase the number
of poles on the public streets.
President Silver announced Messrs.
Baker, Toll and Mathuss as the commit
tee to act with the city engineer and Sc
cure samples of the Main-street pave
ment. and Messrs. Hutchison, Blanchard
and Ashman to confer with the board of
education on the census proposition.
after which a recess was taken until 2
p. m.