| Show nullification PROPOSED this city has baa outstanding obligations in the form of municipal bonds to the amount cf f and school bonds to the amount of oil ai drawing interest at the rate of live five per cent per annum adding a year more we are aware that the law holds the municipality and as aa a school city as a district to be two separate parate ee and distinct things tut but the law also holds that the and without distinctions city as a city of any kind is hold held for the whole amount and it is thereby so much indebtedness which the city as such has to pay A law of congress has limited the total amount amoust to which the city shall become indebted for any and au all purposes and with the school bonds counted in it is many hundreds of thousands over its limit but giving those who persist in adhering to the technical point that the school indebtedness must not be reckoned in suc such h connection the benefit of their claim and leav the situation is altogether inn ing it out such as affords very I 1 little ittle comfort to the upholders of reckless extravagance those who dispose of the matter with the statement that the end justifies the means as well as those who hold in control their that because they are gets acts are not to be questioned bon bonds do for have also been issued as 88 a fund for the completion of the gravity sewer and this added to the bonded indebtedness with interest of 1625 for municipal purposes makes make then there are bills bill receivable and ana bills accruing to an amount that we know not of but which aggregated must be considerable all combined putting the city up to the limit of its capacity capAci tv to incur obligations if indeed it is not far beyond of all this the that line in the face city is 19 issuing warrants and has already issued them to the extent of and the proposition is to make these bear Ju interest terest as witness the following now awaiting action at the bands of the council resolved resolve that hereafter and until further order of this council it shall be the duty of the treasurer of the city where any warrant duly issued by th city auditor shall be presented to said treasurer and is not paid on such presentation for want of funds with which to pay the same to endorse on the back of such warrant the date of presentation of such warrant to him and the fact that thai it was not paid for want of funds and sign such endorsement with his official sigu signature sture and be it further resolved that all warrants so endorsed shall bear interest at the rate of 8 pr per cent per annum from the date of su such h presentation until paid and the city will pay such attoh interest when the principal of sueh warrant is paid this the remainder of the resolution pro vi desfor for the calling in of such warrants by advertisement and the continuance ti nuance of the interest in case they we are not redeemed after such advertise mont ment now if this is not an evasion or proposed evasion of a law of congress what to is it and it might as well for all practical purposes declare that law jaw a nullity and the city beyond the control of congress the whole matter contains but little that reflects credit municipal solons that they have reak recklessly lowly incurred obligations and for the purpose of rewarding favorites have paid disproportionate salaries to useful officers and created office Offic 08 that were not useful to put other favorites into to is all well enough known that they have run the city so far in debt and exhausted its bond ing power in order to continue the extravagant regime is bad enough but to actually propose at once an unlimited increase of obligations obliga tlona and a scheme of nullification jig as a means of meeting unjustifiable ends is something that ought to be nipped in the bud and without further hesitation |
