In his annual report He and canceled, said book or books shall show the same. the comptroller shall describe particularly the bonds sold during the year, and the terms of the sale, with each and every item of the expense thereof. shall also describe the bonds paid or purchased in order to be canceled, the person of whom purchased, and the amount paid, with each and every item of the expense thereof. 46. MONEY MAY BE BORROWED TO PAY INTEREST ON FUNDED DEBT.] Ibid. SEC. 40. In case there shall not be money enough in the treasury, applicable thereto, to pay any semi-annual installment of interest on the funded debt of the city, the comptroller shall present a statement, under oath, to the finance committee, of the amount of the deficiency, which shall be afterwards filed with the city clerk; and it shall then be lawful for the mayor and comptroller, under the sanction of said committee, to issue and negotiate drafts upon the treasurer, payable out of the first moneys that may come into the treasury applicable to the payment of said interest, to an amount sufficient to supply said deficiency. Said drafts shall not have more than ninety days to run; but they may be renewed, if necessary, ninety days successively, until there shall be revenue enough received into the treasury * the same. to pay 47. MAY BORROW TO PROVIDE FOR CERTAIN PAYMENTS.] Act Febru ary 15, 1865. SEC. 25. To provide for monthly, or any other, payments which shall have been authorized by the common council, and required to be made at any time before the collection of the taxes of any year, the comptroller may, with the sanction of the mayor and finance committee, borrow the necessary money for a time not longer than the first day of February next thereafter.* 48. MAY BORROW MONEY ON FAILURE OF REVENUE.] Act March 9, 1867, chap. 2. SEC. 13. If from any cause the city has heretofore, or shall hereafter, fail to collect any tax on the general tax warrant of said city, in any year, or in case the receipt of the revenues of said city shall fall short of the amounts appropriated by the common council, it shall be lawful for the said council to authorize the mayor and comptroller to borrow a sufficient amount of money to meet any such deficiency for any length of time not exceeding the close of the next municipal year, and to issue and negotiate bonds or certificates of indebtedness therefor, which said amounts shall be provided for in the annual appropriation bill of the municipal year next succeeding such loan.† 49. TO BORROW FROM ONE FUND IN AID OF ANY OTHER-EXCEPTIONS.] Act February 13, 1863, chap. 5. SEC. 41. In case of a deficiency in any fund to meet any demand upon it, the comptroller may, with the sanction of the mayor and finance committee, use, to meet such demand, any moneys standing to the credit of any other fund, either general or special, except the water fund, the school-tax fund and special assessment funds: Provided, See infra, section 50. + In case of deficiency in school moneys, comptroller and finance committee of common council may borrow; sce post, chapter 9, section 2; see also; chapter 18, section 24; chapter 16, section 27; also, see post, section 50, this chapter. the consent of the officer or department more particularly charged with the disbursement of the fund so used, shall be first had and obtained thereto. A correct account of all moneys so transferred shall be kept by the comptroller, and said moneys shall be replaced by him, within not to exceed three months, out of the revenue subsequently received into the treasury to the credit of the fund thus supplied. No moneys shall be so used or transferred, unless adequate provision has been made which will permit their reimbusement within said period. 50. TEMPORARY LOANS WHEN DUE.] Act April 19, 1869. SEC. 7. The mayor and comptroller may make temporary loans to pay special assessments against city property when due, and may make all temporary loans, now provided for, falling due on the first day of June of each year. 51. PROHIBITION AS TO ISSUE OF BONDS.] Act February 13, 1863, chap. 5. SEC. 42. No bonds or other evidences of debt shall be issued by the city, except as in this act provided.* 52. DIVERS ACTS OF COUNCIL CONFIRMED-BONDS FOR POLICE EXPENSES.] Act February 15, 1865. SEC. 25. So much of the resolution passed by the common council on the 12th day of December, A. D. 1864, as authorized an increase of pay for the police force of said city, during the present municipal year, is hereby ratified and confirmed. And to provide for the increased expenditure thereby authorized, as well as to raise a perpetual fund that shall be hereafter available for the prompt payment of police expenses incurred during the first six months of every succeeding fiscal year, before the tax annually levied for that purpose shall have been received into the city treasury, the city comptroller is hereby authorized, under the sanction of the mayor and finance committee, to issue and negotiate the bonds of said city to an amount not exceeding fifty thousand dollars, payable, principal and interest, in the city of New York, and bearing interest, payable semi-annually, at a rate not exceeding seven per cent. per annum, and becoming due and payable on the first day of April, 1885. All moneys expended from the fund last mentioned shall be reimbursed, annually, from the proceeds of the aforesaid tax, so that the said fund shall be perpetually preserved without diminution, to meet the yearly recurring exigency above referred to. The several other orders, ordinances and resolutions of the common council, increasing compensation and rates of payment, passed since the passage of the general appropriation ordinance for the municipal year 1864, are hereby ratified and confirmed, and any money in the city treasury not otherwise appropriated, may be applied in payment of the same. Any estimates now or hereafter to be issued by the board of public works for dredging the harbor, under a contract with Messrs. Fox and Howard, entered into July 17th, 1863, are hereby legalized. In case the unappropri ated moneys in the treasury should prove to be insufficient to pay said esti * Two million dollars of bonds authorized for river improvement and sewerage; see post, chapter 16sections 38, 39. Authority to issue three hundred thousand dollars of bonds, each year, for tunnels; see post, chapter 16, sections 34, 35. Sewerage bonds authorized, post, chapter 16, sections 15 and 16: also, ante, chapter 4, section 15, article 13. Authority to issue five hundred thousand dollars, school bonds, post, chapter 9, section 3. Authority to issue water bonds, post, chapter 15, sections 13 and 35; various other bonds authorized, see sections 52, et seq. mates and said increased compensation and rates of payment, the city comptroller is hereby authorized, under the sanction of the mayor and finance committee, to issue and negotiate the bonds of said city to an additional amount, not exceeding thirty thousand dollars, payable, principal and interest, in the city of New York, and bearing interest, payable semi-annually, at a rate not exceeding seven per cent. per annum, and becoming due and payable on the first day of April, 1885, and from the proceeds of said bonds to pay such deficiency, including any deficiency which may exist in the proceeds of the lamp tax, for the said year 1864. pres 53. SCHOOL BONDS AUTHORIZED-FIVE TO BE RETIRED ANNUALLY.] Act February 15, 1865. SEC. 31. The common council may, upon the application of the board of education, provide, by ordinance, for the issue and sale, within four years from the first day of January, 1865, of not to exceed one hundred bonds of said city, of the denomination of one thousand dollars each, payable, principal and interest, in the city of New York, and bearing interest, payable semi-annually, at a rate not exceeding seven per cent. per annum, and becoming due and payable in twenty years from date. Not more than twenty-five of said bonds shall be issued in any single year, and their proceeds shall be used for no other purpose than the construction of school-houses in said city. Said bonds shall be countersigned by the ident of the board of education, and shall be known as "School construction bonds." And it shall be the duty of the comptroller to purchase and retire five of said bonds each year, so long as any of said bonds shall remain outstanding. And when they cannot be purchased at less than ten per cent. premium, he shall select five by lot, in the presence of the president of the board of education, for purchase at that price, and the interest on all bonds so selected, shall thereafter cease. All necessary provisions to give effect to the foregoing condition may be inserted in said bonds, and, as fast as said bonds shall be purchased and retired, the comptroller shall report the numbers, of the same to the board of education, and the same shall be entered upon their regular minutes. 54. WATER BONDS ($2,000,000) AUTHORIZED.] Act March 10, 1869. SEC. 1. That the city of Chicago shall have, and the power is hereby given it, to borrow, from time to time, as the board of public works and the common council of said city shall deem expedient, a sum of money not exceeding two millions of dollars for the purpose of paying any debt or debts contracted by said city on account of the Chicago water works, and to increase and extend the supply of water in said city. 55. SEWERAGE BONDS ($1,000,000) AUTHORIZED.] Ibid. SEC. 2. Like power and authority is hereby given and granted to said city to borrow, from time to time, as the board of public works and the common council shall deem expedient, a sum of money not exceeding one million of dollars for the purpose of paying any debt or debts contracted by said city on account of the sewerage works thereof, and to increase the sewerage works of said city. 56. SCHOOL BONDS ($700,000) AUTHORIZED.] Ibid. SEC. 3. Power and authority are also hereby given and granted to said city to borrow, from time to time, as the board of education and the common council of said city shall deem expedient, a sum of money not exceeding seven hundred thousand dollars, for the purpose of buying and leasing grounds for school houses, and for the erection of and furnishing of school-houses in said city. 57. SEWERAGE AND WATER BONDS, TIME, ETC., FOR WHICH ISSUED.] Ibid. SEC. 4. The board of public works of said city, by and with the approval of the common council, shall have power to issue bonds, for the water and sewerage works of said city, to the extent of the several sums above mentioned and for the aforementioned purposes, respectively, and for the same time and upon the same terms and conditions as now required by law in such cases. 58. SCHOOL BONDS-TERMS AND CONDITIONS OF.] Ibid. SEC. 5. The common council shall have power, and is hereby authorized to provide, by ordinance, for the issuing of bonds for the purchasing and leasing of grounds or lands for school-houses, and the erection of and furnishing of school-houses, upon the same terms and conditions as now required by law, to an amount not exceeding seven hundred thousand dollars, as is provided in section three of this act. 59. RIVER IMPROVEMENT BONDS ($1,000,000) AUTHORIZED.]. Ibid. SEC. 6. For the purpose of carrying out the improvement contemplated by the eleventh, twelfth, fourteenth and eighteenth sections of an act approved February 15th, 1865, and entitled "An act to amend an act entitled an act to reduce the charter of the city of Chicago and the several acts amendatory thereof into one act, and to revise the same," approved February 13, 1863, and also sections five, six, seven and eight of chapter sixteen of the last named act, the said city of Chicago shall have power to borrow, from time to time, as the board of public works and the common council shall deem expedient, an additional sum of money, not exceeding one million of dollars, upon the credit of said city of Chicago, and to issue bonds therefor, in the manner and upon the terms and conditions authorized by section sixteen of chapter sixteen of said act of February 13, 1863.* 60. No CONTRACT OR EXPENSE MADE NOT PROVIDED FOR BY APPROPRIATION.] Act February 13, 1863, chap. 5. SEC. 43. No contracts shall be hereafter made by the common council, or any committee or member thereof, and no expense shall be incurred by any of the officers or departments of said city government, whether the object of expenditures shall have been ordered by the common council or not, unless an appropriation shall have been previously made concerning such expense.† And no member of the common council, head of a department, clerk, city officer, assistant or employe in any department of said city, shall be directly or indirectly interested in any contract, work or business, or the sale of any article, the expense, price or consideration of which is paid from the city treasury, under the penalty of his immediate removal from office. 61. CITY AUDITOR-POWER TO APPOINT.] Ibid. SEC. 44. The common council may hereafter, in their discretion, provide for the appointment of a city auditor,* to hold his office for two years and until the appointment and qualification of his successor, whose duty it shall be to examine, personally, and certify to the correctness or incorrectness of all the accounts rendered for any money which may be collected or disbursed by any of the departments or officers of said city. The said common council may, by ordinance, prescribe his qualifications and more particularly define his duties; and he shall be removable from office, at any time, by the mayor with the concurrence of the common council. Board to have exclusive charge of water and sewerage works. Former contracts concerning water and sewerage works to be completed by the board -Special provision relating to new contracts. Annual estimate to be furnished, by the board, Countersigning of warrants no longer re- 1. How CONSTITUTED.] Act February 13, 1863, chap. 6. SECTION 1. There is hereby established an executive department of the municipal government of said city, to be known as the "Board of Public Works," to con * As to appointment and removal of auditor, see ante, chapter 2, section 21; chapter 3, section 3. |