Evening journal. [volume] (Wilmington, Del.) 1888-1932, 1915-10-26
Defends COUNCIL
Retaining OF MONEY
President Downward Claims
$4,000 Premium Is Not
for Building Commission
SAYS LAW LIMITS 1T
TO 100000 AMOUNT

President OF Council Henry C.
Downward is firmly of the opinion
that the $4,000 premium received
from the sale Of 100000 bonds for
erection OF the new city building
should not be turned over to the Joint
Building Commission, but belongs to
Council. AS matter of fact the
1923 900 premium already has been APP
piled to pay interest on the 100000
bonds, Mr.. Downward says. Speak
ing of the subject, Mr. Downward to-
day said:
Il see that an editorial in one OF our
local papers says Council should re-
turn the money Return the money!
Did Council take any money away
from anybody? No; well, then, how
could money be returned unless
taken away? The money in question
always has been in possession Of the
City Council
"rhe heading of this article is not
correct. The article deals with the
premium on bonds sold TO build the
city's own house out of indebtedness.
contracted by itself. all OF which the
city mot the commission, will have I,
pay both principal and interest. Is il
creditable and commendable for Council
TO economic and save in order TO re
lieye the burdens of taxation or not
The curious part Of the whole matter i
that the people who now want Council
20 loosen up ON the purse strings OF thu
city were a little while ago, holding nj
their hands in perfect d+smay at the pos
sihle large expenditure Of public none,
4 by legislative enactment.
"But such is life. The article in qucs
jtion states only half the law 30 carr,
weight with its argument. The vii
mington Building Commission is only o
] a temporary character created for spe
cifc work, limited in purpose, limited II
Expenditure. whose term Of Office vii
cease with the completion Of the new
public buildings.
"The two sections OF the law that
are OF a conflicting nature are sec
tions 5 and 6. Section is the only
section quoted by the editorial refer
red IN above. I quote in part from
these two sections but all bearing
upon The case:
Section 5. Chapter 200. Laws o
Delaware-For the sole purpose o
paying for the land and for the cree
ton. equipment and furnishing OF tn
building hereby provided for, tn
Mayor and Council Of Wilmington, i
hereby authorized and empowered Z
borrow upon the faith and credit Q
the city of Wilmington as hereinatte
provided, a sum not exceeding $500
900.
section 6-All money receive
from the sale OF any or all OF sal
bonds after the payment of tn
charges and expense connected wit
the preparation and sale thereof, sha
be deposited by the City Treasurer a
the Farmers Bank, at Wilmington, 4
separate account. and payment
therefrom shall be made only upo
orders signed by the chairman an
treasurer of the said Wilmington
Building Commission and none Of tn
money received from the sale OF sal
bonds or any of them, shall be ap
piled to any purpose except as pro
vided in this act'
Read these two sections in orde
and you get the intention OF the law
maker, which was to provide $4,000
less charges for the sole purpose o
bringing to completion certain build
lings. At the close of Section 6 h
states specifically that the money de
rived IRON the bonds, none Of II shall
be spent except as provided in the act
which limits the expenditure to $500,
600. II is very evident that he ha
not thought of a premium, OF in Sec
ton ) he could have specified $4,000
plus the premium. He allows for de
duction OF charges from the SSOO,OOI
but does not refer to possible prem
ium.
at would be unbusinesslil1e to pa
the S23. 900 premium over TO the Build
ing Commission, as II could not spen
1t as the limit is 100000. not 1928
900. for its expenditure and as tn
money belongs to the city the Build
=. ing Commission would have to retur
, It to the city Further. ! understan
/ that the commission is not in need {
money as the 100000 is ample for tn
, completion Of the building as require
! by an act under which it was created
l CAS- an actual fact, on consultln
! the city treasurer's books, they sho
: that the $4,000 has already bee
+ paid out for interest on these sam
r bonds issued to raise the money wit
which TO put up the building, furnis
and equip them. Most of the amour
& was paid by the previous Council an
e one payment by the present Council
II would not cost the city anythin
Ell to have this tested before the Mayor
: Advisory Board where the law d
l. reefs such cases. II is now Il
Council TO act"