The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1903-06-20
Acting City Counselor Werner
Explains Legal Points
Involved.
AUTHORIZES NO BOND ISSUE.
Judge Dillon's Opinion Makes 1t
Necessary u Make Perfect
the Law Enacted Last
Year.

When the Charter amendments were
adopted last year the vote in their favor
was SO overwhelming that the sentiment of
the people in their behalf could not be mis-
taken.
The philosophical citizens who are now
engaged in perfecting Il defect in one Of the
amendments which were adopted at that
time feel that If only the same enthusiasm
can be aroused in bringing the people TO
the polls next Tuesday. the vote will be
jus: as decisive as on the previous occasion.
Absolutely no new issue is involved. If
the amendment is carried Tuesday, no
money will be voted. TO bonds issued and
no taxes will he increased as a result.
1t will simply make ii possible for public
Improvement bonds to be issued If the
people SO elect at q future election.
City Comptroller Player in a letter to
Harry b. Halves has explained that if in
the future any bonds are issued as a result
of an election taxes will not be increased
owing to the natural increase in the city's
revenue. Tuesdays election will make a
subsequent favorable two-thirds vote for
bonds legal and nothing more.
Acting City Counselor William F. Woer
her. when asked yesterday the exact OBJ
planned this feature of the case in the fol-
lowing statement:
OFFICIAL OPINION.
Sometime ago the question was discussed
as 10 the necessity of the issuance OF bonds
by the city to secure the funds necessary
for certain purposes not specially mentioned
in the charter An investigation of the law
led to the opinion that an issuance of bonds
under the present charter might be of
doubtful validity.
Capital is proverbially timid in venturing
TO invest in securities where even a sus-
p:cion of their validity is entertained.
Judge Dillon of New York is looked to
as the one authority by all bond-buyers
and without his favorable opinion no city
or town in the United States can success
fully launch bond issue. He refused his
assent TO the validity. of the issue. of bonds
on the ground that the purposes for which
the same were TO be granted were not spe-
officially enumerated.
The defect in the present charter thus
brought TO light IS serious and farreaching
The purpose of the election on June % .s to
remedy this by giving the city the right
whenever it will become necessary. to sub
nit to the people a proposition authorizing
the issuance of bonds.
CORRECTING A DEFECT
The present election has nothing to do
with the issuance of the bonds themselves.
or the borrowing of money at this time. 1t
is only to provide the right at some subse-
quent election. to be called by the Mayor
and Municipal Assembly. to submit the
question of issuing bonds to the people.
The proposed amendment to be voted on
Tuesday requires three-fifths vote to car
ry. and after it is passed no bonds can be
issued until at another election, which can
only be called upon the concurrent action
of the Mayor and both branches of the
Municipal Assembly, when the question of
bond issue is submitted TO the people and
receives the assent of two-thirGS of the
voters.
The specific purposes for which the city is
now supposed to have no power to issue
bonds. but which it is proposed to supply
by the new amendment so that when, in
the course of events. money may be needed
the same can be had. are certainly of the
most meritorious and necessary character.
They are d completion of City Hail.
(9 funds for the Waterworks.. CD public
sewers. ~ Fire Department. 80 bridges and
viaducts. t6) hospitals, Insane Asylum. Poor
house and House of Refuge, "a Courthouse
jails and Workhouse. Isl public parks and
squares. (D other necessary buildings, ana
90 refundng prior Indebtedness.
a moments reflection shows how the
welfare and safety of the people at large
especially the poorer classes-is deeply in
volved in the passage of the new amend
ment.
In case of n possible emergency or calam-
ity-and no man can foretell the future
the lack of the power sought to be con-
ferred may fall heavily upon our people