| Show COLD CLAUSE CONFLICT f council fight over issue of b refunding bonds a 1111 LAWFUL ONEY PROVISION report of committee favoring oring gold cold bonds benda amended oy by ft a vote of seven to six so ns as to haka tile securities payable in ili lawful money point of order ties up the tha matter until U the tha next meeting gold pro proposition likely tr if ha be adopted at that time by a vote ot of 7 to 6 hio members betas being absent tit tin city council lost last evening amended the lepore of 0 the com coln mitti i on finance with respect to the issue 0 ot f refunding bonds by out the sold cold clause and in nert 1171 ing ni a provision that the bonds be I 1 made a payable in lawful money As amended the report was as then adopted by a similar vote and the lanful money proponents were joyful their pleasure however was short lived canister Call later i ii d the point t of order that ns as the tha in ittel report authorized the LX collm iture 0 of f money eight votes were ne ito for the adoption and the chairman promptly held beld otherwise cal llster then appealed froia the decision on 0 the chair and as an councilman allen alien nh mho was wan temporarily presiding retrained fra I 1 aled aiom voting and dob dei tied lib its colleagues and went over to the go eold d clabe men inen the chair was ove overruled ruled TI this is l lit fl the matter pra agy where it vas nas an hour hou before find and rl a gu buelsing elsing c contest 0 niest Is now tallied talked of in order ahr t t the he people of the CRY city may hazzard azzard li an ail opinion us as to the exact af u the bond question COMMITTEE suggestions tile the meeting ot of last ast 1 evening had been dp ap ily illy c called a led tor for the purpose ot of considering cont colit si t tha h a leport ot of the 1110 committee on finance Ilni which aich recommended zenis cenis orall crall the issuance s of 0 twenty 3 bear ear 4 p per er bent cent cold bonds for t alio lie pur T roa 8 of up tile hie issue of 0 10 20 boar yo or 6 per cent law lawful ful money b bond on ll 11 ensued issued in the committee doltl nally recommended last evening that it bo be antl authorized prized to take immediate ktelis sups to lo have the forni form of the bonds pre amra is as uell as to order tile tiie engiak ing or ot of tho the issue this amendment was permitted without sit hout a i rote ot and there was a brief brict lull 1 11 I now moe moc ilowe howe suggested BUe in a tentative t ena tive tone that the be ba am n led by striking out goldana gol dand in sert bertins fig lan ful money of 0 the united statis allen alien and veller seconded the motion in chol choina us and the debate broke loss loose YOU lou ought to raise the interest to aper 6 per cent buckle interposed it you ant nd to uva ua lawful money bonds oh I 1 thlik not inowe retorted weller weiler then secured the floor and said bald that he be favored making an effort to ci dispose dindos a of 0 lawful money bonds first it the eifort was asvul gold cold bonds could then be issued fernstrom put himself upon record as n not t desiring to turn his back upon tile the p principles lud laid doi down A by the political parties of utah f lor or a number ot of aea sears rs past la lawtum arill in oney money he declared was as good as bloody gold and lie ho war nar heartily in favor avor of 0 trying firby to disic e ot of a lawful money isme e ile he also advanced the idea that the e issue wig not compulsory as the city could br dge over another year if occasion SINKING FUND PROBLEM well I 1 wa want n t to k know n ow right here chillster Callist cr interrupted it if we have to set aside tor for a sinking und fund this year under the provisions of the erdl nim by chich alch the bonds bonda ot of issa were if 1 sued med and ab flyr hl yr r or not net we will be in di tault if 1 fall to do it I 1 also d desire e to know if we ne car can now increase the avy l vy already made in order to raise the 1 cit attorney nall hall was unable to say buy how the courts would hold upon th ih question of 0 increasing the levy as the be provisions of oc the statutes are slightly in conflict but lie was waa ot of the opinion that the i would have to b d a t aalde ide this year unless the bonds w re r refunded funded then we will have to increase the le lc v or refund the bonds canister callister re marked rna rr d ile 1 e dissented from the opinion ex pr ed by the ot tomey torney and sa said ld that other prominent lawyers had told him that th Ch elevy for the IMMO could be made next year it if made within a twelve months atter after september lat nex next when the ant t ton n years expires what would bould ha happen apen if we set it all alado do howo bowe asked asketh in conclusion the city would bo be in default city attern attorney At torny y hall replied well it suit ault was brought on r n the bonds bonda stall ana the courts should hold that w ought to have made the levy f for r tile the this year we vile could in make a oce it then andl and I 1 want nant to say right he here re and now that I 1 dont propose to vot vote e for a gold cold bond except as a last resort resor tt 1 I suppose the saving ot of per year to the taxpayers cut any figure in n this political play buckle suggested callister favored the tha issuance of 0 gold bonds as A large laree aaa ing ine could the thereby by tit effected it if the state could irue issue gold bonds li was unable to seo see why K by tha city it was largely it a macior of re liniment liti ment any way b e de chaired and ho he favored issuing bonds that would sell readily it lawful money bonds were issued the city would undoubtedly have to pay a haeher rate of 0 interest hence ho be urged that sentiment be cast aside and tho the gold bold clause be allowed to remain buckle opened his bat hattries tries on n ill the e money amendment by declaring that be was as enuch of a silver ninn man ls as anybody on 0 earth but t this h he a added d ded is a business proposition wo e ca can n readily sell the ell entire I 1 ire issue of 0 cold be bonds ads and I 1 dont bell believe eve that we can dispose of 0 lawful money bonds w without I 1 phout paying a higher rate ot of inhere interest t it if this was a private its business tran transaction A mould save the 1000 per year by Isi a a gola hand bond we also have another issue of 0 bonds f tailing ailing duo due in HOI 1901 and wr wo should make arrangements now to meet our obligations AGAINST GOLD COLD CLAUSE Fenre lu lit an impassioned burst of oratory opposed the placing of 0 a BOM chain about the taxpayers dk ond and favored trying to float I 1 lawful awful money 45 before taking any other step at this th ju juncture lure bucklo buckle accused fernstrom by Inu innuendo enda ot of holding back appropriations at the instance 0 ot f tile the chairman of the finance commit lee in order to make a better financial showing but fernstrom met ill tin insinuation by declaring decla that he had a il if ht t to 0 look over claims alias cl before if approving the them m he desired dep ired allen alea next tk the he flo floor or in n support ot of the ali amendment an ag the cit alty y wms was evy ly upon silver mines f or support he declared its resl ni d denta ants should stand by the I 1 white hite metal t L egx also ya important Por tant lie he said to Is oue bue the ine bono bonds at 0 once 0 ce tin no provision S been matlo made tor for the per prye year sinking 6 fund f loua berwise have h live to be pro and for in any event ingvuld ing huLd id an effort should ile he made made birot rt to float lawful lanful money bonds bonc and 11 be bill gold s bonds could the ilion bertson vi as emphatic in the decla ration that ilia t lawful money bonds could not be disposed of 0 at 4 per cent 1 I am ain a silver silar man too ho he said but aarn I 1 am not enough of a silver man to rob the taxpayers of ahen hon it can ha avoided we have to sell bell those bonds on agold a rold security arid and will III therefore have to issue gold bonds from a business standpoint we wa cant do anything else we wallace lace took a similar view of 0 the met matter ater and said that he be was not talking as a democrat a republican or a nonpartisan non partisan but bill as a taxpayer and representative ot of the cites interests beler wel er and baines both espre expressed ased themselves is as favoring a lawful money issue and it it could gloated floated it would then be time enough to issue tod gold cold bonds ilon aiono e also express expressed ahlm belf eu again to a similar effect LAWFUL MONEY GOES 1 IN 14 arter after buckle had predicted that ilia lantuh money looney amendment voulta carry because tin an election was approaching tho the question was as put and ills ilia prediction was ve verified rIfled by tho the foll following oling roll call vote yeas allen alac n fernstrom howe mars margetts getts weller weiler and bartle barnes 7 nays buckle calester Ca llster diehl blehl morris robertson and wallace i 6 absent patrick and romney 2 As amended the of 0 the committee was adopted by the same vote then object el eil to the printing of 0 the bonds upon the ground that eight members of the council opposed it and that it would bo be a needless expenditure pend iture lie he also raised the point of order that as the report autho authorized authorised rived the expenditure of money eight votes vote u vere ere required to pass it councilman allen alien who was in ill the chair held otherwise ise find and callister appealed from rom hla hill decision upon the question ot of the appeal allen alien re retrained fraine d from rom voting and as switched to the sold gold men tho the deciel decision n of 0 tho the chair vas overruled this left the report still before the council alth the lawful faful money clause embraced but as both lemney and patrick are said to be in favor avor of an iolue of gold bonds it Is presumed that gold hlll ill be inserted lit in place of lawful money molloy at the next meeting and tile the sold gold issue ordered after a motion to adjourn had been d defeated e a substitute ordinance pr providing 0 v for or tho the bond issue was presented and read three times and wallace moved its passage canister callister insisted that as the ordinance differed irom from the one presented at this the former meeting it would mould have to c g over a week under the rules but be betor f ore a decision was ireae reached led a second Yno motion tion to adjourn prevailed and the meeting was over |
