The Montgomery advertiser., 1906-05-29

In the first place 1t may be observed. that, if this is fatal defect in the bonds. after all 1t is such defect as
 may be easily remedied. and for that
 reason have prepared an ordinance
 which provides that new bonds shall
 be Autographed, bearing date of July i. lS06, and maturing,July 1, I946 Howerer. It Is my Judgment that the bonds as now
 ithographed, when issued, will become valid.
 | :. Courts look not so much to the date an instrument bears as to the date on which 1t becomes effective It
 IS very rare indeed, that the bonds or public corporation are actually
 issued upon the day they bear date; | they are usually antedated. The time
 1t takes to have them Autographed and
 to have other details incident to the
 sale of bonds attended to, makes it very inconvenient and often practi-- l cally impossible to have the date of
 the bonds correspond with the date of their issue.
 | "The bonds as now prepared by the city for sale, would run from the date, of issue to their maturity, which would
 be thirty-nine years and some few months. They are 2 nominally forty year bonds, but not such in fact: a | circumstance which is true with ref | erence to great number of bonds of cities and counties of this country. l do not think that this renders these | bonds void. There has been substafi- l tiaI compliance with the authorities I derived from the election. The courts of the United States have decided that bonds are valid, even though they fail to run from the date of issue to the date of maturity, the entire period for | which they are authorized to run. Com 1 missioners of Marion County vs. Clark, | 94 U S. PTS. Township of Rockcreek vs. Strong. s6 U. s. 271. 1O4 Federal Re- | porter 958.
 li2 of the act of the Legislature under l which these bonds are to be issued, | leaves 1t to the discretion of the Mayor | and City Council to fix the term for
 which they are to run.
 | The Law Is Quoted. l Section 12: The denominations of | the bonds, the time for which the same shall run, the place of payment, and | the rate of interest to De paid on the same shall be fixed by the governing body of the municipality issuing the same, but no bonds issued under the provisions of this act, shall bear I greater rate of interest than five per | centum per annum. and the same shall not be sold for less than face value. | Tt is my judgment, therefore. that
 the election held last August was | l City Council of Montgomery with the | power and authority to issue and sell | school bonds to the amount of seventy | five thousand dollars, and that the. bonds that the city has advertised for sale are valid, and when issued, will
 bind the city to the payment of the principal and interest mentioned in | such bonds.
 l T am. respectively.
 | 'C. P. Mcintyre. | City Attorney" l Immediately upon the reading of the | report by the clerk. it was moved by | Alderman Lobman that the opinions of | the lawyers be referred to commit l tee composed of the Mayor and the l Finance Committee. to be reported up- l on at the next meeting of the Council. This motion was later amended by the | addition Of the Committee on Judiciary | to the joint committee. and in this form | the motion was passed.
 | Later an ordinance prepared by the I City Attorney, was read, identical with I the bonds issue ordinance, but making the date of issuance July l, 1906, fn~ stead of July 1, 1905. This ordinance
 followed the legal opinions to the joint committee named for the purpose and will be discussed at the next meeting
 when the committee reports on the matter
 More sidewalk Paving. Another matter on Nthe Mayors call to the Council was the consideratinn of the issue of paving bonds to cover the expense of contracts for sidewalk pav- l ing Fourteen ordinances providing for the issuance of bonds to pay for | the cost of contracts let at the last regular meeting of the Council aggre- eating $43,S00, were read. and referred | without objection to the Committee on | Sidewalks and Baby Bonds. The ordi- nances provided for the sidewalk paving as follows: Six hundred dollars for
 the south side of Scott Street from Hull to Decatur; $1,S00 for both sides of Grady Street from Mobile to 8olt | $2,200 for the east side of Holt from
 Mildred to Cable; $1,200 for the west | side of Holt Street from Clayton to Robinson; $6,600 for both sides of Holt
 Street from Clayton to Bell; $2.500 for both sides of Grove Street from Law
 renee to Hull: $s.sO0 for both sides of King Street from Union to Jackson;
 $1, 300 for both sides of Columbus Street | from Lawrence to McDonough; s2,2O0
 for both sides of Caroline Street from Clayton to Mildred; $3,500 for the north
 side of Randolph from Court to pAca- tur; $2,60O for both sides of Hilliard
 Street from Houston to Pelham; $4,200 for both sides Of McDonough Street from Jefferson to the Central of Geor-
  | Heron Street from Goldthwaite to Clisby Avenue; $2.700 for both sides of | Goldthwafte Street from Clayton to \ Bell.
 With Alderman Holloway in the chair, President Gunter asked for unanimous consent to introduce reso- lution. A negro. he said, Eugene Dun
 can, has recently begun the erection of | number of frame houses at the cor
 ner of Wilkinson and Montgomery streets These were being built of sec
 ond hand lumber. he said. and were to
 be rented to negroes, the idea of the
 owner being, he understood, to revenge himself for some imagined grievance, upon white property holders in the vicinity. He asked leave to present
 resolution directing the City Engineer
 to refuse to issue permits for wooden ibuildings at that corner. The resolu tion was passed unanimously. By unanimous consent several othes measures were also introduced. Alder I l.,