Evening star. [volume] (Washington, D.C.) 1854-1972, 1897-12-06
Ing fund of the District & Columbia. be.

ing iuho Va TIC OiStIlct OF COLUMBIA, be,
and he is hereby, authorized and directed to
cause bonds Of the District of Columbia to
be prepared m the sum of 100000, in de
nominations of $500 and 1900. to be
designated as District of Columbia stree
extension bonds;' said bonds to be dated
July 1. 1897. to bear interest at the rate
OF per centum per annum. payable hall
yearly on the first days OF July and Janu-
airy of each year, and shall be redeemabIo
at the pleasure Of the treasurer of the
United States after ten years, and payable
In forty years after their date.
Said oonos sha!i pc engraved and printed
shall be signed by, the treasurer of the
United States, ex-oficio commissioner of
the sinking fund. countersigned by the au-
t a1tor o. the District, OF Columbia, and bear
the seal OF said District. They shall be
numbered consecutively, and registered in
the office OF the register Of the United
states treasury, for which registration the
Secretary OF the Treasury shall make such
provision as may be necessary.
The principal and interest thereon shall
be exempt from taxation by federal. state.
or municipal authority, and the faith Of
the United States is hereby pledged that
the United States will. by proportional ap-
preparations and by causing to be levied
upon the property within said District such
taxes as will do SO, provide the revenues
necessary to pay the interest On said bonds
as the same may become due and payable
ana create sinking fund for the payment
OF the same at maturity; and the bonds
snail have set forth and expressed on their
race the above specified conditions and
tne principal and interest thereon shall be
made payable at the treasury of the United
States. ~
ANY OF the bonds hereby authorized NAV
ne caieo In Tor payment after the expira-
lon OF ten years from their date by said
treasurer of the United States. at his dis
erection. The last of the said bonds orig
inally issued under this act and their sub
stitutes, shall be first called in, and this
oTaeT OF payment shall be followed until
all shall have been paid
Notice shall be given Of the time m which
payment will he made, and the interest on
the particular bonds SO selected at any
time to be paid shall cease at the expira-
ton of thirty dsys from the date of such
notice. ~-
Sec. 10. That the proceeds of so much of
Deneht assessments authorized to be levied
by said act of March 2. 1893, and its amend
ments' as may Lot be used to pay judg-
nents or condemnation under said act in
the fiscal year in which they are paid are
hereby directed to be turned over nv the
commissioners of the District of Columbia
to the treasurer of the United States as eX
onieio sinking fund commissioner of
said District to constitute a sink
ing fund for the payment of said
bonds; and the United States will from
time to time make such appropria tons,
oHe-ndlI 10 De charged against the revenues
of the District of Columbia as, together
with said proceeds. will create fund suf-
fcient to pay said bonds as they are re-
deemed or as they mature.
Sec. IL. That whenever any money shall
be required to pay the final judgments or
DEGREES Of the Supreme Court of the Dis
trict of Columbia under said act of March
2. 1893, and its amendments the treasurer
of the United States shall from time to
time sell and dispose of any bonds prepared
under this act at not less than their par
value, to the most favorable bidder or bid
ders. after having advertised for ten con-
secutive days in two daily newspapers pub
lished in Washfr gton city, in the District
of Columbia. and in two daily newspapers
published in the city of New York of his
intention to dispose of such bonds the bids
to be opened under such regulations as
shall be prescribed by the Secretary of the
Treasury and the award to be subject to
sa -es, together with all benefit assessments
as paid. shall be covered into the treasury
OF the United States. and shall be applied
by the treasurer of the United States as
ey officio sinking fund commissioner afore-
said, without further authority from Con-
gTeSS, in payment of said judgments or de-
crees. The Commissioners of the District
of Columbia are hereby authorized and di-
rccted to provide for the payment of all
expenses connected with the engraving.
Issue and redemption of said bonds, and
with the advertising required by this act:
and 5000 is hereby appropriated for such
purpose. to be Immediately available.
Sec. r. That in making payments for
awards of damages to owners of lots con-
demned under Sid highway act payment
may be made in the discretion of the Secre-
terry of the Treasury to said owners in
bonds. as authorized by this act. at their
face value. in whole or In part, as said
owners NAV elect