The Montgomery advertiser., 1909-03-26
Ordinance Has Execu-
 tive's Signature.
t7oo.ooo NAMED IN THE SALE
No Better Proposition Was Sub
 mitted to Council
rAe Fund Secured Will Be Used In schooa Improvements, . Wharf, Sanitary Improvements and
 waterworks Improvements.

Mayor Teague has signed the ordin- ance lately passed by the City Council in which the bid of F. M. kohn and Son for the $20O.000 in municipal bonds was accepted. The bonds foated are those for the school Improvements, Slt0.000; $l0.000 for a municipal wharf and warehouse: $25.000 for san itary Improvements and $25.000 for inn proyements in the city waterworks
 For several days Mayor Teague with held his signature from the papers so the contract would not be closed 1T more attractive offer materialtzed. but as the time limit. March 2s. is so near ct hand, and the other prospective bidders have not made a proposition as good as that of Kohn and Son. the Mayor yesterday decided to. end the matter and signed the ordinance and contracts.
 The bid of the persons to whom the contract Is given Is to make the bond loan of $200.00O at 5 per cent inter est: also to lend the city $100.000 at i-2 per cent interest. The first pay ment of money to the city is to be made May 1. when $50,000 will be put to the city's credit on the books Of the Fourth National Bank. which instt- tutjon is associated with F. M. kohn and Son in the transaction. On June 1. S160.o00 will be advanced the city by the bank on the bond contract and on the same day the loan of S1o0.oo0 will be made. The entire amount Of the bond Issue and the loan Is to be held in trust for the city by the bank. only to be drawn on to pay for the work authorized in the bond issue. and for the city's running expenses in the case of the s100.o00 loan.
 Chairman c. F. Moritx. of the Fi- nance Committee of the City Council, handled the business end of the trans action for the city. and the majority Of the Aldermen have been congratulatfng him on his work.
 In School Board. Hands. The s140,Ooo authorized in the bond issue. advocated by the people in the bond election held December IA. will be placed at the disposal of the school authorities, and Its expenditure will not be interfered with by the Alder men. the Board of Education being all lowed to use its own discretion in tho use to which the money Is put.
 It is generally understood that the intention of the Board of Education is to erect another large school build ing. on lot already purchased, cen Srally located, for a girls high school, and to use the present girls hign school building for graded work and to be the neucleus of tn einnoyation in preparatory educational lines when the manual departments dic ma us LII oISo'
 The Council has already taken steps toward the expenditure of the s1o.o0o for a municipal wharf and warehouse the City Engineer having been in- struction to draw plans for the landing Improvements.
 This work has been held up by the recent flood in the river the water be- ing too deep to allow the engineers force to take measurements for the wharf But the plan of the wharf has been decided upon. and will be an In cline track leading from the ware house, built above the high water mark at the top of the bluff. or built of a material that will not suffer dam- age from high water. the loads from the boats being drawn up to it. on car operated by an electric motor.
 The $25, ,000 for waterworks improve ments may be partially expended in the purchase of the contemplated electric pump for the pumping station. but this matter is still under consideration.
 No definite plans have been made for the expenditure of the s25.000 foI sanitary improvements, but the matter will he taken up by the engineering corps and the Council shortly.