Studies in Historical and Political Science; Extra Volumes Volume 25

Studies in Historical and Political Science; Extra Volumes Volume 25

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1903 edition. Excerpt: the city council was promoted by the presence in the treasury of a large balance which had been borrowed from the state but not yet expended. Indeed, for the next three years or (77)-City Council Records, June 15, 1841. (78) Sec. I, provided for an annual committee for the reduction of the city debt composed of one alderman and three councilmen. The city treasurer was to consult this committee on all matters concerning the city debt. Sec. II, provided for the issue of obligations for periods not exceeding twenty years and for the quarterly report of the payments and issues of the city notes. Sec. III, provided for the registration of the notes in the register kept by the city clerk, (this register gives the date of issue and payment, rate of per cent., name of the creditor) and provided for the inspection of the register by every freeman. (79) The word "unexpended" means that portion of any general appropriation which at the close of any fiscal year shall be unexpended, and the balance of any special appropriation which shall remain after the completion of, and payment for, the object for which the special appropriation was originally made. until the method of procedure under the new city debt ordinance had become well established, the balance in the city treasury at the end of each fiscal year did not fall below $15,000. This balance was so considerable a sum that during the years 1841, 1842 and 1843 it was not necessary to borrow money in anticipation of the taxes between the the end of the fiscal year on May 31, and the first of October when the proceeds of the tax levy began to be realized. The sum total of the appropriation of $12,000 and the income from licenses, rents and interest were between $18,000 and $20, more

Product details

  • Paperback | 154 pages
  • 189 x 246 x 8mm | 286g
  • United States
  • English
  • black & white illustrations
  • 1236902262
  • 9781236902269