Omaha daily bee., 1899-04-11
WILLFUND ITS INDEBTEDNESS
Council Bluffs Decides Upon an Issue Of
Municipal Bonds.
TWO HUNDRED TWELVE THOUSAND DOLLARS
General and water Fund Warrants
Only Are Inciudcd-Prelimin
Action Taken by the
city Council.
TwoHUNORsO TWELVE THOUSAND DOLLARS

At the meeting OF the city council last
night the preliminary steps looking toward
the funding of the municipalities outstand-
ing Indebtedness in so far as the general
and water fund warrants are concerned
were taken. Resolutions providing for the
Issuance of bonds in the amount OF $l5O,OOO
to fund the general fund warrants and in
the amount of S62, 900 to fund the water fund
warrants were adopted.
The general fund warrants to be funded
are those issued for the fiscal years, 1896,
1897 and 1898, the amounts being as fol-
lows: Fiscal year ending March 81, 1895.
81, ,032 80; fiscal year ending March 81, 1897,
s59,413.S2; fiscal year ending March 81,
1898. $75O6144, and interest. The bonds
are 10 bear per cent interest per annum,
payable semi i-annualy with principal and
interest payable at the National Park bank
of New York City. The bonds to become
due, $4,000 FIVE years after date and like
sum each year for the following fourteen
years. The bonds, when issued are to be
delivered to the city treasurer, who shall
exchange them at not less than par and
| accrued interest for the outstanding war
rants on the general fund to fund which
the bonds were issued
Bonds In the amount OF SoE,VVu
to fund the outstanding water fund
warrants are to be issued In a like man
ner, bearing the same rate of interest, pay
able semi annually, the interest and prin-
| cipal payable at the same bank as the other
bonds. These bonds are to come due
| 1000 five years after date and like sum
for the following thirteen years, with &c.
| 600 to become due the nineteenth year after
| date of issue.
The action of the council taken last
! November looking to the refunding OF the
| outstanding general warrants and appoint
| ing Frank True, city finance clerk, agent,
| to effect the exchange of the bonds for the
warrants was rescinded. Frank True also
| by written agreement consented to cancel
the contract whereby the city made him
| agent to carry out the exchange OF the
| bonds
City Clerk Phillips presented a bill for
| 1925 for stamps and soap and warrant
was ordered drawn on the general fund for
| the amount. The presentation and allow
ance of this bill is simply to provide the
| basis for another test suit II necessary to
determine whether the old or new warrants
| issued for current expenses shall be
| paid first II the city manages to carry
out the funding OF the old warrants sue
/
II, however, the city is enjoined from is
suing these bonds, as may be the case, the
suit will be brought at once. At present
| close on 100000 Is tied up in the city
treasury owing to litigation, the city treas
urer being unwilling to pay out any money
| on account of the unsatisfactory ruling of
the supreme court in the former test case
| of Phillips against the city treasurer.
The committee on printing was authorized
to at once enter into negotiations for the
printing of the bonds ordered issued.
The new polltax ordinance was introduced
and on a suspension of rules passed.
The following bonds were approved n. C.
Phillips, city clerk, $4,000; n. c. Phillips,
clerk of the superior court, $4,000; Sam
Dobson, poundmaster, $500; A. E. Avery,
street supervisor, $1,000; j. W. Bates, fire
chief, $4,000: Barton Nelson custodian of
city hall $l.OOO John Atwood, polltaX
| collector, $1,000.
communication from the Commercial
committee suggesting that a meeting OF the
| general managers of the various railroads
entering Council Bluffs be called so as to
secure their views as to the proposition OF
n Union depot was received and a motion
leaving the matter with the committee to
proceed with as 1t deemed best was carried.
| From the slight discussion held on the
| proposition 1t was evident that the alder
| men as a rule opposed to the Union
depot scheme.
The council after adopting the following
resolutions on the death OF the late Judge
James adjourned to next Monday night:
Whereas, 1t has pleased the Creator of
the universe to remove by the hand OF death
our esteemed fellow citizen, the Hon. w. o.
James; and,
Whereas In his long life in our midst
he was always a public spirited citizen; and
, tenacious in his convictions, yet charitable
to the views of his associates; and,
Whereas He has served several terms
as mayor and alderman Of this city and
rendered valuable service as such officer
and,
: Whereas, His death is a loss not only to
this city, but to the state at large; there
fore, be 1t
Resolved, by the city council of the city
| of Council Bluffs, Ia, That we, as council
mourn his loss and sympathize1 with his
sorrow stricken family r.
? Resolved further, That the foregoing
preamble and resolution be spread upon the
records of the council in honor of his
memory and a copy sent to his family.
, Wanted-Several good lady solicitors fol
city. Good pay and nice, pleasant work
e Call at Bee office, Council Bluffs
\ There is no doubt aboE Williamson havin
the finest line of bicycles that has ever bee
in the city, Call and see for yourself an