--A called meeting of the City Council was held at 4 o'clock yesterday afternoon — Present: Messrs. Saunders
, and Grattan
The Council being called to order, Mr. Grattan
spoke of the necessity of having a sufficiency of funds to meet the present and prospective wants of the city, and in order to raise the same, submitted ‘"an Ordinance for the issuing of notes by the city,"’ which, being read the requisite number of times and amended, was put on its passage (the rule being suspended, on motion of Mr. Hill
) and carried in the affirmative — all the members present voting therefore.
The Ordinance is as follows:
Be it ordained by the Council of the City of Richmond.
That there shall be issued, in the name of the city of Richmond, three hundred thousand dollars, in notes of one dollar, fifty cents and twenty-five cents, for the redemption of which the Council pledges the faith of the city: and which shall be receivable for taxes, water, light, or any debt due or payable to the city of Richmond.
The President of the Council shall procure paper and plates for the printing of said notes, and said notes shall be signed by him and attested by the Chamberlain of the city.
- 3. There shall be issued of said notes two hundred thousand dollars of the denomination of one dollar; fifty thousand dollars of the denomination of fifty cents, and fifty thousand dollars of the denomination of twenty-five cents. And the same may be paid out for any debt due from the city of Richmond, and may be exchanged for any money or Bank notes which are taken by the Banks of the city of Richmond.
The President of the Council shall take from the Chamberlain a receipt for the amount of the notes, which he shall sign, specifying the amount of such denomination, which he shall deliver to the Auditor; and the Auditor shall charge the Chamberlain, upon his books, with the amount specified in said receipt.
And the President of the Council shall sign the said notes, from time to time, so that there shall not be in the hands of the Chamberlain, at any time, more than ten thousand dollars.
When any person shall desire to receive said notes in payment of what is due to him from the city, the warrant of the Auditor shall state how much of the amount directed to be paid by said warrant is to be paid out of said notes.
And if any person shall desire to obtain said notes in exchange for money or Bank notes, he shall deposit the said money, or Bank notes, with the Chamberlain, who shall give him a receipt therefore, which he shall deliver to the Auditor.
And, thereupon the Auditor shall draw his warrant upon the Chamberlain, payable out of said notes; and the Chamberlain shall deposit any money, or Bank notes so received, in Bank, as he is directed to deposit other moneys received by him.
The Auditor and Chamberlain shall keep a separate account of the notes issued and paid out under this Ordinance, showing the amount of each denomination issued.
- 7. For the expense attending the procuring the plates and paper, and the issue of the same, the President of the Council may draw his orders, from time to time, upon the Auditor
A resolution was adopted referring the subject of the purchase of iron pipes to the Committee
on the Water Works, to make what disposition they may choose of the matter.