Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1908-04-24
Official.

AN ORDINANCE to provide for the issue
Of seven hundred and forty.6ye th0usan4
dollars Of registered or non registered c0u-
non bonds Of the city OF Alexsndns for tbs
purpose o. refunding or redeeming the out.
standing bonds OF the city OF Alexandri,,
issued and dated July the fr.t, eighteen
hundred and sevent nine, aud to provide
for sinking fund as requir' by lay.
Whereas the city of AleXsndris, Virginia,
has now outstanding bonds issued by Il and
bearing date ON the first day Of July, eighteen
hundred end seventy-nine TO the amount Of
seven hundred and fOrty-6ve thousand dollars:
aRd
Whereas. the said bonds will mature on the
first day OF July, nineteen hundred and nine;
and
Whereas. the City Council of Alexandria
deems il advisable and expedent at this time
10 refund such of said outstanding bonds as
the holders thereof desire to exchange for
bonds issued under this ordinance, and 70
provide for Rising money to redeem And
liquidate such as cannot be exchanged. By
sale OF new bonds,
Now, therefore, be IL ordained by the City
Council NJ Alexandria, Virginia:
SECTION l. That the Mayor. Auditor and
CITY Treasurer are hereby authorized and in
| strueted 10 forthwith prepare registered or
ron-reg istered coupon bonds OF the City OF
Alexandra to the amount or seven hundred
and forty.fve thousand dollars, in denomina-
| tiOns Of one thousand dollars, five hundred
dollars, and one hundred dollars respectively.
Said bonds TO bear date on July I, 1908, and
| to bear interest at the rate Of four per cent
per snRum. the interest 10 be due and payable
90 January and July LIST, OF each year, and
| the principal Of aid bondsto be due and pay.
able on July let, 1888. Said principal and
| interest TO be payable in lawfnl money OF the
| United States. .r.,.
SIC. 2. The bonds shall be signed BY the
Mayor sHd City Treasurer, and be counter
signed by the Auditor: they shall be signed
| by the persons 10 Office when said bonds are
actually issued, no signatures upon said bonds
shall be engraved or Autographed, except
that the signature Of the City Treasurer Ia
Office when said bonds are prepared, shall be
engraved or Autographed upon the coupons
annexed to said bonds. The Mayor shall az
| fK to said bonds the corporate seal, but no
bonds shall be sealed until actually needed
| for delivery to the holders Of the present
bonds, or until needed for sale.
Sac. 3. Said bonds when prepared shall be
at once delivered TO the City Treasurer by
whom they shall be safely kept. He shsll
deliver them to the Auditor as they are need
cd for purposes Of exchange or sale, keeping
10 book to be provided for that purpose tho
| respective numbers and amounts Of said bonds
and the dates Of their delivery, with the Au-
ditor's receipt therefor.
SEC 4 It shall be the duty OF the Auditor
| 10 register, in book 10 be kept by him, the
amount and number OF each bond issued. tho
date OF its issue. to whom issued. for what
bond issued il exchanged for an outstanding
bond, and 10 see that no bond is unlavfully
issued. Upon the surrender, redemption 'r
purchase Of any Of the present bonds to be
funded, il shall be the duty OF said Auditor t..
cancel by permanent legible stamp or mark
the bonds so surrendered, redeemed or pu,-
chased. He shall make full report to the,
City Council from time 10 time OF all bonds
issued TO the date Of his report, together with
the number Of such bonds and their respec.
tive amounts. The bonds so surrendered, re-
deemed or purchased shall be exhibited tO
examined by, and destroyed in the pr-senee'
Of theFinance Committee Of the City Council.
monthly.
SEC. s. The Finance Committee Of the CITY
Council are hereby authorized and directed,
TO exchange new bonds for Outstan ling boads
of same value and to sell, at such time, ia
such manner and amount as they in their
discretion msy deem best, any OF said new
tonds for the purpose Of raising money to
purchase any outstanding bond. The pn =
ceeds of the ssls Of such OF the new bombs %
nay be sold, shall be used only in the pay
mant of the old or outstanding bonds.
SEC. 6, A siukiug fund for the redemption
and payment Of the bonds issued under and
by authority Of this ordinance Ia hereby
created, 10 be vested in board known as the
"Commissi Jners OF Sinking Fund for Bond OF
1906" The Mayor, City Treasurer, Auditor,
President Of the Board Of Aldermen and
President oftAe Common Council shall COM
posc tbe said board The City Council OF
Alexandl ia shall gay into tbs,city. treasury.
to the credit of the said comn ifsioners, sn-
nually until the FIRST day Of July niueteeu
hundred and eighteen, asuni equal 10 one per
cent. of seven hundred aud fsrty-tiYe thous-
and dollars, annually from the first day Of
July, nineteen hundred and eighteen until
the first day Of July. nineteen hundred and
| twenty eight q sum equal TO one and one-hall
per cent. Of the said bonds then outstaudiDs
and annually from the first day Of July, nine
teen hundred and twenty-eight until the Arsl
day Of July, nineteen hundred and thirty
eight q sum equal to two per cent. Of the said
bonds then outstanding. The said commits
slcntrs shall have the power to invest any
moneys deposited with the treasurer Of the
J city of Alexandria to their credit, from time
to time, t1king such security therefor as may
be approved by the finance comattee Of the
City Council Of Alexandria.
Passed the Board 0fAlyermen, April 81, 1908.
j. r. N. CURTIN, President.
Passed the Common Council April n, 1919,
HUBERT SNOWDEN. President.
Approved April %, 1908
FRED J. PAFF, Mayor.