Evening journal., 1911-01-23
Respectfully submitted,
John A. Kienle.
Chief Engineer

iudH .liAns
Respectfully submitted,
John A. Kienle.
Chief Engineer.
The Proposed Act.
Following is the proposed BILL.
An act to authorize the Board Of
Water Commissioners of the City OF
Wilmington to hold and disburse all
revenues by them received and, to
amend Chapter 177 Volume, "a. Laws
OF Delaware.
BE 1t Enacted by the Senate and
House Of Representatives OF the State
OF Delaware IN General Assembly met
1.-TWO thirds OF all the members elect
ed to oieach House thereof concurring
herelm
Section 1. That Section u of Chap
ter III, Volume "a. Laws OF Delaware,
be, and the same Is. hereby repealed.
Section 3 That the portion of Sec
ton IA of Chapter 2O5. Volume II,
Laws Of Delaware. stricken out by
Section IL Of Chapter III, Volume "a,
Laws OF Delaware. is not intended to
be re-enacted or revived by this act
and the same is not hereby reenacted
or revived.
Section ?. That Section 10 of Chap
ter H. Volume "a, Laws of Delaware.
be, and the same is. hereby amended
by striking out from said section. be-
tween the word "annum" in the fif-
l'teenth line thereof and the word
Board" in the seventeenth line there
Of, the words Board Of Water Com
missioners. One hundred and twenty
thousand dollars per annum"
Section a. All rents, income. re-
ceipts, revenues and moneys, from all
sources, now received, or hereafter to
be received, by the said Board of
Water Commissioners. shall be held,
applied and, disbursed by said Board
In the following manner, to-wit:
First The said Board Of Water
/ Commissioners are hereby required
and directed annually to set aside
forty per centum OF the aggregate OF
all such rents. income, receipts, rev
enues and moneys for the purpose OF
paying off the principal and interest
OF all the bonded indebtedness of the
city OF Wilmington set forth and
specified In Section of this Act: and
the said Board is hereby required and
/ directed annually. out of said forty
per centum or any other funds avail
able for that purpose, to deposit. al
least ten days before any of the bonds
evidencing said bonded Indebtedness
shall fall due, I'm the banking insti.
tuition or institutions where said bonds
shall be payable, a sum Of money
sufficient to pay the said bonds. with
instructions 10 said banking instiui.
tion or institutions TO apply the same
to the payment thereof, out Of said
forty per centum of any other funds
available for that purpose, to deposit
at least ten days before any Interest
OF any Of said bonds shall fall due
In the banking institution or institu
tions where such interest, with in
structions to said banking institu-
tions TO apply the same to the pay
ment thereof. If the said forty pei
centum OF said aggregate shall in an,
year be more than sufficient to pay tn,
interest on all such bonds for the yea
and TO pay the principal of those o
said bonds falling due during the year
the said Board shall be authorize,
10 carry over any surplus of sal,
forty per centum to the next or an,
subsequent year TO be applied to tn
same purposes; or the said Boarl
shall be authorized TO apply such sur
plus to the purchase in the open mar
ket, for such price as they shall deem
fair, of any of such bonds which shal
be unmatured, and. upon purchasinl
the same, the said Board shall destro
the same; after having first notifier
the City Auditor and the City Treas
urer Of the numbers and amount
thereof.
Second. The said Board Of Waite
Commissioners shall be. and they ar
hereby, authorized annually to appl
sixty per centum of the aggregate @
all such rents, income, receipts, rev
enues and moneys, or so much of sal
sixty per centum as may in their judg
ment be necessary, 40 the expense G
operating, repairing, rebuilding, ex