The age-herald., 1901-01-29
THE QUESTION IS
 STILL UNSETTLED Another Meeting of the Citizens
 and Council THE RESOLUTIONS ADOPTED Premium of $5 on Improvement Bonds for the Privilege of Redemption. Another Long Session-The
 Full Proceedings.
THE RESOLUTIONS ADOPTED

About the livliest public question engag- ing the attention of the citizens of Birming- ham at present is that of public improve ments and the ways and means for secur- ing them. A joint committee composed of members of the City Council and citizens has held three meetings up to the present time in the vain attempt to agree upon some plan or method by which the streets and sidewalks of the city may be improved with the least possible expense to tho prop erty holders and the committee is still with out definite plan. The third and probably last meeting of the committee was held in the temporary quarters of the city hall last night, and after three hours of talk the following resolution, introduced by Capt. John G. Smith, was agreed to, the members of the City Council refrainng from voting:
 Resolved, That it is the sense of this meeting that section 62 of the city char ter should be amended so as to read as fol- lows: On all public improvements made under ordinances of the city there shall be for the payment of the same a ten-year bond or bonds issued of the denominations of $500 each, bearing interest at the rate of 6 per cent, payable semi-annualy. said bond or bonds to be subject to redemption by the city at it's option on the payment of $105 for each s1O0 of the face of the bond and accrued interest. Be 1t further
 Resolved, That the property holder whose property may be improved by the city be required to pay an annual assessment of 10 per cent of the total amount charged against the property with 6 per cent inter- est ."
 This resolution did not meet the entire approval of the members of the commit tea hpiDp what theV wanted than anything else that had been suggested during that or any previous meeting It is the plan suggested by B. F. Moore few days ago with the addition of the $5 premium on each $10O of improve ments.
 A number of plans were suggested by diff ferent members of the joint committee, but each was looked upon with distrust, either because of its cost to the city or the prop erty holder, or its undesirability from the view of the bond buyer.
 A Ten Year Bond.
 It was suggested that bonds to run ten years be issued with penalty of or per cent. for the uneXpired period for any property holder who desired to pay off the claim against his property, and thus clear his title to it. This, in the opinion of some of the committee, looked burdensome to the holder of property. ten-year bond deemable at any time after one year was suggested, but it was stated that such bonds could not be sold. Five-year bonds were then suggested, but the same old trouble arose.
 One great question that troubled the members of the committee was the disposi- ion of ha ha ait from the property holders on their annual payments. Some suggested that the money thus received be deposited in some bank, but that proposition was finally voted down on the ground that investors would take the bonds if they knew the redemption money was to be placed in bank on interest. Investment in State and government bonds was suggested, but here the question of the city engaging in the brokerage business came up. and that proposition followed the others under an adverse votet.
 Outside Securities.
 W. H. Kettig, president of the Commer- cial Club, moved that it be the sense of the committee that the city do not invest the money received from propery holders in payment for the improvements along their property in outside securities, and this was adopted
 B. Steiner, who was present a specta- tor, suggested that ten-year redeemable bonds to bear per cent interest be issued, the property holder paying off his assess ment before the ten years expired to pay a premium of $5 on each $1O0 of the amount charged against his property. This sugges- ton Capt. John G. Smith embodied in res- olution as set out above, which was adopted. The committee then adjourned.
 The session of the committee lasted from 7:30 to 1O:40 o'clock.