Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1910-08-20

street. On motion of Alderman Nc
Nealy, properly seconded. the matter
is referred to the water works COM
mittee and superintendent of water
works, with power to act.
The clerk read bids submitted for
repairs on fire stations, said bids hav-
ing been invited by the clerk under
instructions from this body, as fol-
lows: L. N. Bordeau, $500; P. j.
Lee, $116.O0; Schrecker' & Lewis,
$1,000; Ltndbloom & Nelson, $156;
LANCE & Tom, (including repairing)
$500; Hudson & Collins (including re-
pairing) 1885; John Konosky Qncluding
repairing) $267.50. On motion of
Alderman Prick, properly seconded,
the bids are all referred to the fire
and light committee, to report back
to the council.
The clerk read a resolution pro-
Wding for the enactment Of an ordt-
nance for a water main on Thirty
fifth and Thirty-sixth streets on Sew
enth avenue, said ordinance being for
the purpose of covering the matter of
paying for the said main and spread
ing the assessment therefor over 10
years and so that such assessment
may be thoroughly understood. AL
derman HolZhammer moved the
adoption Of the resolution, contain
ing the estimate of. the city engineer
as to cost of same, and his motion,
properly seconded, was carried. AL
derman Naab moved the immediate
consideration of the ordinance as
read, (the clerk having read said or
dinance), and his motion, properly
seconded, was carried. Alderman
Naab thereupon moved the adoption
of the ordinance as read. Alderman
McNealy moved as an amendment
that the ordinance be laid over I'M
der the rules, and it was so ordered.
The clerk read a resolution as fol-
lows:
Whereas, An exigency exists by
reason of the lack of funds in the
city treasury of the city of Rock Is
land, ILL.,, for the payment of over
due, current and anticipated bills
and salaries, and for the conduct of
the business of said city of Rock Is
land, including the maintenance of
the fire, police, water, health and
all other departments of said city,
and
Whereas, The State bank of Rock
Island, the Rock Island National
bank, the Central Trust and Savings
bank, the Peoples National bank, and
the Rock Island National bank, all
banking corporations of the city of
Rock Island, ILL.,, have expressed a
and now agree to adj
vance to the said city of Rock Island.
for the purpose of the payment of
the said overdue, current and an
ticipated bills and salaries, and the
conduct of the business of said city,
a sum not in excess of Sos, 100000,
ON its orders on the city treasurer,
duly authorized and executed in the1
proportions, to-wit: State
Bank, Rock Island, Ill, not to ex-
coed S25,O0O.0O; Rock Island Ma
Lional bank, not to exceed $10,-
100000; Central Trust and Savings
bank, not to exceed 100000; Peo-
pies National bank, not to- exceed
bank, not to exceed $10,oOO.Oc
be it
Resolved, BY the city council of the
city of Rock Island, ILL.,, in open meet
ing, that the above named banks are
hereby requested to cash the orders
on the said city treasurer, issued in
with the above understand
ing, and in consideration thereof and
Of said sums to be advanced by said
banks, we, the city council of the city
Of Rock Island, H., and the officers of
said city, do hereby agree to, and with
said banks and each of them, that they
shall receive payment for the orders
so held, respectively, out of the funds
so accruing and to accrue to said city
Of Rock Island from saloon license and
from the tax levy now made and to be
collected during the spring of the year
A. D. 1911.
And we do further hereby agree, and |
each of us, with said banks, and each |
Of them, that they shall be paid interest |
On the orders held by them from the |
lime said orders are cashed until re-
deemed and paid, as above provided, |
at the rate Of 6 per cent per annum,
and as an evidence of said agreement, |
we, the city council of the said city of |
Rock Island, and the officers Of said |
city, hereby agree to and with said |
banks, that the above agreement is to |
De kept in every particular, and have |
caused this agreement to be executed |
n quintriplicate, and agree that each |
bank is to be furnished with fully ex-
scuted copy thereof.
Alderman LaVanway moved the |
adoption of the resolution. and his mo- |
ion, properly seconded, was on roll |
all, carried. Alderman Schmid being |
excused from voting.
Alderman Holzhammer presented a |
'esolution to the effect that the. frame