Omaha daily bee., 1899-05-16
SOUTH OMAHA NEWS. !

Tue proposition of selling $40, 900 of
funding bonds was the feature of last even
ing's session OF the council. At the meeting
a week ago this matter Was talked over for
an hour or more and a resolution was
passed selling the bonds to Frank j. Mort
arty. the finance committee having been
given power to make the sale at the best
terms possible. MIR. Moriarty offered to
take the bonds at 8 per cent interest ana
offered a premium of $3.50. Member Kelly
objected to the sale and insisted upon hins
being advertised for. His objections were
overruled and the finance committee was
directed to close the deal at the rates men,
toned. Last night the old fight was taken
up again when the veto of President Ben
nett of the city council was read. Prest.
dent BENEFITS veto read as follows:
81 hereby return 10 your honorable body
without MY concurrence the motion by MIR.
Johnston, that the communication by the
city treasure in regard to $40, 900 general
funding bonds, due July 1, 1899, be referred
to the finance committee with power to
act, passed May /, 1899, and | also return
without my concurrence the vote to adop.
a report of the fln6nce committee taken on
May s. 1899.
II deem it contrary to public policy to
enter into a contract of any character IN
volving any such large amounts of money
as his one does without first giving the
matter the greatest possible publicity.
The sale of bonds as reported by the
committee was a more favorable one than
the sale of bonds a year ago, yet there is
no good reason why the city should be
hound nv tho action of tho committas until
:. q, o.oor4oi,aa ~. ~ ill., -. y.
better.
therefore lnterpose my veto TO Dotn
motions and votes taken thereon"
Immediately following the reading OF
the veto John s. Watson. a commemorative
NJ Mason ouis g. 10 bo,Lars 90 cb,oo,o
-, -. -. ..rt
asheo - ne hearu anu SUBMITTED une lol-
lowing communication:
To the Hon. 7. H.. Ensor, mayor; Y. A.
Broadwell, treasurer; r. A. Carpenter, clerk:
the members of the city council of the city
of South Omaha, and f. J. Moriarty:
Whereas, At a regular meeting of the city
council of the city of South Omaha held
on the first day of May, 1899. there was read
a communication from the city treasurer re-
garding the $40, 900 general funding bonds
maturing July /, 1899, which communica-
ton was. upon a vote, referred to the
finance committee with power to act.
Whereas, At a regular meeting Of said
council on the Sth day of May, the finance
committee to whom was referred the COM
Inuntcation U 10y ireasuter proauWeli re-
nontinnod ronnrtod +bat nftar nnaotiations
had with the First National bank of Omaha
and the Omaha National bank, they entered
into a written agreement with f. j. Nor
larty OF the Packers National bank OF south
oAhaha y d pohu ecaalns q pei en-. = eeo
a. q Tmsn u s"o9 ~ rttmH .ne %iV'0I0
berein before mentioned and "
Whereas, Upon a motion and vote, the
above report was adopted and the said con-
tract confirmed.
therefore, lhls communication Is hotice
w sou nc mason, rm9 ~ I'M "
onred a. assis,n,ant and NOW boIJ he orig-
mai contract entered into between the
finance committee and f. ]. Moriarty; that
as assignees of such contract we are pre-
pared and do stand prepared to carry out
the terms theTeo1' lhat we nave entered lnto
ne ~ ean aanntn - 49, 49, TO NJ nIoriartv
Gov his intorast in aid CONTRACT and that we
shall, in the event of any attempted repu-
diation on the part of the officials of South
Omaha, take such steps as we may deem
necessary IN order TO protect our interests,
ana lurther, Inut we snaii, ~ heoeHsaiy =, %on
80 tbo cold s7N 060 bonds through anv other
agency
Al the conclusion Of the reading of Mr..
Watson's communication Johnston offered a
motto, m tho erfect that the whole matter
be laid oya, for one week in order TO allow
tho finance committee in procure legal adj
vice This nronosition was ccmbated nv
KeI,v and as No vote was taken on the
acting movor,s veto If nlaced the matter
b,ck where If was a week ago, Then John
sion raised the question of the right of
the acting MAYOR to submit a veto, and
- II