Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1904-03-11
NEW ORDINANCES BY COUNCIL
Is Adopted at the Meeting Friday.
March 4th.

Is Adopted at the Meeting Friday.
March 4th.
At the regular meeting of the city
council of Americas on Friday. March
4th, 1904, the following ordinance was
read and adopted:
An Ordinance to Create a Bond Com
mission for the City of Americas, to
Define ifs Duties, to Empower and
Authorize 1t to Receive from the
Clerk and Treasurer the Surplus
Each Year Over and Above the
Amount Necessary to Pay the Prin-
cipal and Interest on Bonds Falling
Due for Such Year and for Other
Purposes.
Section /. Be it ordained and en-
acted by the Mayor and City Council
of Americas, and 1t is hereby ordained
and enacted by authority of the same,
that commission to be known as the
Bond Commission of the City of Amer
icus, is hereby created, same to consist
of three 90 members, residents of said
city, each to serve for period of six
(6) years, commencing from April 1st
of the year of their appointment, and
until their successors are appointed
and qualified, except that of the COM
missioners first appointed one shall be
for a period of two ~ years and one
for a period of four az years.
Sec. 2. Be it ordained and enacted
by the authority aforesaid, and it is
hereby ordained and enacted by author
ity of the same, that w. M. Jones, Frank
Sheffield and O. nj. Council be aud
they are hereby appointed members of
said commission, SAID Council for a pc.
Rod of two (s) years, said Sheffield for
period of four (4) years, and said
Jones for period of six (6) years, their
terms to commence April 1st, 1903.
Sec. 3. Be it further enacted and or
dained by the authority aforesaid, and
it is hereby enacted and ordained by
authority of the same, that said COM
mission be authorized and empowered,
and it shall be it's duty, to demand and
receive, as trust fund. from the Clerk
and Treasurer of said city, the surplus
of all money remaining in his hands on
the first day of April of each year, af-
ter the payment of the principal of any
bond that may become due in any
given year, and after the payment of
all accru'ng interest upon any bond up
to said date. to take charge of, keep
and care for said surplus, subject to
the order of the Mayor and City Coun-
oil of Americus, as a sinking fund for
the payment of the principal of the out
standing bonds of this city as they ma
ture and become due, and to invest
such surplus as in their judgment may
be for the best interest of the city of
Americas, in bonds of this city or other
good securities of equal solvency
Sec. 4. Be it further enacted and or
dained by the authority aforesaid, aud
it is hereby enacted by authority of the
same, that it shall be the duty of said
commission, on the first day of April
of each year to report to the Mayor
and City Council of Americus it's act
ings and doings as such commission,
showing the amount of money received
by it, the disposition made thereof and
to account to said Mayor and City
Council of Amerlcus for said fund.
Sec. 5. Be it further enacted and or
dained by the authority aforesaid, and
it is hereby enacted and ordained by
authority of the same, that all ordi-
nances and parts of ordinances in con-
fict with this ordinance, be and the
same are hereby repealed.