The age-herald., 1900-07-07
BONDS TO BE SOLD
 TO MEET INTEREST
The Board of Aldermen Adopts
 the Ordinance.
BONDS OF S1O0 EACH
The Question of Raising Funds for the Erection of Three New School Houses to be Considered by
 Special Committee

The City Council met in adjourned ses- steps towards issuing bonds with which to retire the unpaid coupons that have been accommodating for the past five years and which will have to be met on or be- fore August 13. The unpaid coupons and interest on them al that time will amount to $269,00O
 Members of the board present when the roll was called were Mayor Drennen, Alder men Wheeler, Rainbow, Mcknight, Kerr, Meighan, Williams, Altman, Graham, Thach Jones and Harrington.
 Colonel Altman introduced ordinance providing for the issuance of bonds to meet unpaid interest coupons amounting to $269 GOO, which will be due September l, 1900. In offering the ordinance. Colonel Altman said that it had been a question with the com mittee as to whether the ordinance should specify that the bonds bear per cent or leave it to the committee to negotiate the sale at per cent. He said that so far as the receipts to the city were concerned it would make difference, as the per cent bonds would sell for premium, while 1 per cents would probably not sell for more than par. The reputation the sale of per cent bonds would give the city would be of some importance. The bonds are to be for M,000 each, and to be numbered from to 269 and interest and principal to be payable at the Hanover National Bank of New York The money derived from the sale of the bonds cannot be used or ap- propriated for any other purpose. The or dinance was considered by sections, the first section providing for the issuance of 269 bonds of the par value of $1,0OO each, to bear interest at a rate not to exceed per cent per annum.
 The act of the Legislature authorizing the sale of the bonds stipulated that they must not sell for less than par, and that only such number as will be necessary to net the city $269 900 shall be sold.
 This section was adopted
 Section ? provides that the bonds shall be of the denomination of $1,OOO each, and numbered from to 269, inclusive, the in- terest to be paid semi-annually at the Han oyer National Bank of New York.
 This section was adopted.
 Section provides that the bonds shall be payable in thirty years in gold of the pres ent weight and fneness. Adopted.
 SecllOn pTtScTlDeS tie IlaIllltl III NillCll the bonds shall be issued. Adopted.
 After the adoption by sections, the ordi- nance was referred to the judiciary com mittee, it being necessary for an ordinance providing for funds to take such course.
 Alderman Kerr called attention to an ordinance providing for assessments for certain work, and stated that it was of such importance as to demand immediate attention. Under a suspension of the rules the ordinance adopted.
 Mayor Drennen stated that when 1t was first decided to build the stockade in the Ninth ward a fence belonging to old woman living there was removed and the Mayor was authorized to settle with her.
 The following resolution was offered by Alderman Altman
 'Be 1t resolved by the Mayor and Alder men of Birmingham, That the special com