Evening journal., 1907-02-07
WILL new CASTLE
BORROW 100000
Full Text of Bill Authorizing
Issuing Of Bonds for NUM-
CipaI improvements
DISCUSSION ON SUBJECT
snoclnl 10 Ia EvenIng IonrnaI.

there Is considerable discussion regarding
the merits and demerits OF the measure
now pending before the Legislature pro
yiilng for "a bond issue Tor city improve
ments, the fun text Of the bill as printed
below In order that an may become fami-
lar With It's provisions.
The measure is as follows;
An act authorizing the Mayor and
Council Of New Castle. to borrow 100000
for sewer, street ana harbor improvements
Of the city OF New Castle.
Whereas the city Council, the Board Of
Trade and many citizens Of the city Of
New Castle. have requested the said city
Council TO present bill TO the present
Legislature, for the purposes set forth 10
lho title hereto; ana the said CITY Council
has officially given its assent and appro-
baton thereto, therefore;
BE 1t enacted by the Senate and House
of Representative of the State of Doh-
ware in General Assembly met two
thirds of an the members elected TO each
House Of the General Assembly concur
ring thereim;
Section l. That the Mayor and Council
or New Castle be and Il Is hereby author
lied and directed, upon the written re-
quest Of the Commissioner herenattcr APP
pointed. TO the City Council of New Cas-
tie. to borrow oa he faith and credit Of
lae city Of New Castle (Which is hereby
pledged for that purpose), such sum or
sums of monoys as a majority OF saia
commissioners, shall from time TO time
specify and deem necessary for the pur.
poses of this act; not exceeding IN the
aggregate the sum of SlO0,OOO Which SAID
sum shall bo borrowed IN two instail-
menis. Mother of said installmenta shalt
be for a sum exceeding In the aggregate
the sum of S50.O00 and no part OF upe Sec
end installment shall be borrowed until
lie first installmnnt has been fully paid
out and expended mr the purposes herein
after named The Mayor aud Council OF
New Castle shall fsue bonds or ccrtii-
cHtes OF indebtedness for each instal-
mont as aforesaid herein ana hereby au.
thorizod and directed 70 bo borrowed, In
such form. at such date. payable at such
time. for such amounts and bearing sucn
rate of intorest-not exceeding the rlte
Of six per centum per annum-as a. ma
jOrity of said omTaissioners may dcem
oxpediont and proper. Each of said bonds
or certificates OF Indebtedness. shall oe
signed by the Mayor of the said city and
the President of the City Councl-with
the seal of the corporation affixed there.
20, and shall be countoragned by at least
a majority OF tho said commissioners
They may be assigned by the holders
thereof and shall be exemnt from an
State, county and municipal taxation. Any
and all sums OF money borrowed and re-
ceved under this act, and ats increase
fiom premiums on the bonds. certificates
of indebtedness or otherwise, shall as so n
as received be paid over to the city
treasurer Of said city. and held by him.
10 tho credit Of the said commissioners. 10
be drawn out ana used by them as here
matter provided.
Section o In order TO provide for the
payment of the interest on said bonds or
certificates Of indebtedn~ss. as II shall
fall due. tho city Council of New Castle
shall raise annually by additional taxation
OF the persons and property within the
limits OF said city according TO the pro-
visions of the act entitled IAN Act to in
corporate the City Of New Castle" pass
ed at Dover, February 20. 1875. and any
supplements or amendments thereto. IN
relation TO the assessment and collection
Of taxes within said city, such sum or
sums Of money as shall be necessary. FOR
the payment of said intopst The money
SO raised. shall be used exclusively for
the payment of interest as aforesaid: and
should there be any balance thereof re-
mainlng In the hands OF the treasurer
OF said city he shall hold and retain the
SAME foT tfie payment OF accruing inter-
est; and such surplus shall. be deducted
by the city Council, IN estimating the
amount so TO be raised in the ensuing
year.
Section g. That any and an moneys bor-
rowcd and received under the provisions
Of this act. shall be borrowed at such
times. In such manner and in such
amounts as the said commissioners or a
majority of them shall determine; and
the same shall be expended and applied
by them. and under their personal super
intendence. exclusively, IN and about the
work. and supplying material for building.
repairing constructing and permanently
improving the sewers. drains. streets,
wharves and harbor Of the city OF New
Castle. and all necessary expenses at
tending the same, in the order named,
that IS 70 say;
First In building. constructing, laying
and repairing sewers and drains. so as
&c give an efficient sewage and drainage
system in the city,
Second. In paving, repairing and per
manently improving the public streets aud
highways wlthin said city. Provided now
ever that ro street or highway in whicl
n sewer is to be laid or constructed, SHAH
be permanently paved. until after IN,
laying and construction oil said sewer OF
drain.
Third. In repairing. building a. and per.
manenuy improving the wharves. har
Dor and river esont OF said city.
should IL become necessary In the opin
ion of said commissioners. for the pur
poses aforesaid. o acquire any additiona
land or property. they may acquire th
same by purchase. or IL shall be takc'
by the City Council upon their application
in the same manner and subject 70 an
same conditions. and proceedings. tmu.ot
mutandD. as are now prescribed by law
n,r condemning and taking land for IA
purpose of opening new streets IN sat
city. Tho title TO ands so purchased o.
> well as ali condemnation procec cdlngs shei
be taken in the name o. The Mayor ua'
Council Of New Caftle.
Section 4. Tha. FIVE citizens of the li4
OF New Castle who shall be elected a
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