The times-news. [volume] (Hendersonville, N.C.) 1927-current, 1933-05-01
CITY CHARTER
AMENDMENTS
Are OFFERED
City Treasurer Would AID
minister Water Boards
Debt Service
NO OTHER CHANGE IN
BOARDS POWER IS UP
Buying of City Bonds by
Board Below Par Is
Also Provided

Two bills amending the charter
for the City of Hendcrsonville,
one providing for the purchase OF
outstanding city bonds through
funds raised by revenue antici-
patton notes. in the event that
they may be purchased below par
and the other providing that the
net income OF the city water COM
mission shall be handled through
the office of the city treasurer,
have been introduced in the low
er house by Representative Ted
Ray of Henderson county and
are on the house calendar for
consideration.
The, bill which provides for a
change in the administration OF
the city water commissions funds,
does not interfere with the power
of the board of water commits
sioners, to maintain. operate and
keep in repair the city water sys-
TEN. 1t also specifically recites
that nothing contained in it shall
interfere with the city water
commission election which has
~heersSset--ses ~sEEEEaesetayss'-ess pro-
scented, it relieves the water COM
mission of handling It's debt serv-
ice account, which would be paid
through the city treaSurerS Of
flee.
The two bills follow:
BILL. FOR BUYING IN
CITY'S BONDS
The Ray measure relating to
bonds provides:
Section /. That the City of
Hendersonville, through its board
of commissioners, may borrow
money for the purpose Of buying
outstanding bonds Of said city
whenever the same may be
bought for less than the par value
of said bonds, said money 20 be
borrowed in anticipation of the
collection of taxes and revenues
of such fiscal year. Such loans
shall be paid not later than the
10th day of October in the next
succeeding fiscal year. Provi-
sion shall be made in the annual
budget and annual appropriation
ordinance of each fiscal year for
the payment of all unpaid loans
predicted upon the taxes and
revenue of the previous fiscal
year.
section ,. Negotiable notes
shall be issued for all monies
borrowed under this act and said
notes shall be issued pursuant to
the provisions of section 2935 Of
the consolidated statutes.
Section 8. That any notes IS
sued pursuant to this act shall
bear interest not to exceed four
per cent per annum.
Section /. That any notes is
sued pursuant to the provisions
of this act may be disposed of
either at public or private sale,
and in such manner as the gov
erning body of said city may pro-
vide for.
"Section 5. All funds realized
on account of any notes issued
and sold pursuant to the provi-
Sions of this act shall be used ex-
clusively for, the purpose of buy
ing and retiring outstanding
bonds of the City of Henderson
vile. Provided. any bonds bought
pursuant to this act must be
bought for less than their par
value"
BILL ON WATER
SYSTEM FINANCE
The other Ray bill, touching
upon the water system. reads:
Section l. That from and
after July l. 1888. the board of
water commissioners of the City
of Hendersonville are hereby au-
thorized, in their discretion, to
nav over, or cause to he paid
over, to the treasurer of the City
of Hendersonville. on the first
day of each month, the net in
come derived from the operation
of the water system of the City
of Hendersonville, or so much
thereof as may be necessary to
enable the city to meet its gen.
eral operating expenses.
"Section 2. The net income OF
the said water system shall be
the sum total of all water rents
collected less the actual cost of
operation, debt service not in
cluded. Upon receipt of the
money provided for in section
one hereof, it shall be the duty of
the treasurer to place same in a
special fund to be known as the
water revenue account. It shall
of. for the general operating ex-
penses of the citv but at the end
be lawful fOr-the commissioners