gcls_citycode_1894_111

Ordinances of the City of Greenville. 101

the City of Greenville, and by authority of the same,
That under the provisions of Sectin 31 of the Charter
of the City, and of an Act of the General Assembly of
this State entitled "An Act to provide for the grading
and paving of streets, public ways and alleys of the City
of Greenveill," approved December 22d, A. D. 1891,
the Mayor be, and he is hereby, empowered to issue in-
terest-bearing coupon bonds of said City to the amount
of fifteen thousand dollars, to be known and designated
as "Paving Bonds."

Sec. 2. Such bonds shall be of such denominiations as the
Mayor and Finance Committee shall determine , shall
bear date the 1st day of March, 1893, shall run twenty
years and shall bear interst from date at the rate of
six per cent. per annum, payable semi-annually upon
the surrender of the coupons thereto attached, and they
shall be signed by the Mayor and Treasurer and the
Corporate Seal attached thereto, but the coupons shall
be signed by the Treasurer only.

SEC. 3. Upon the issuance of said bonds the Mayor and
Finance Committee shall negotiate the same, and the
proceeds shall be used for the purposes set forth in the
aforesaid Act and for no other purpose.

SEC. 4. It shall be the duty of each successive Council to
levy a tax upon the taxable property within the City
sufficient to meet the interest on said bonds as the same
matures, and provision shall also be made ot pay the
principal when due.

SEC. 5. Holders of said bonds may have the same regis-
tered, if they so desire, in the same manner as provided
for the registration of the sewerage bonds of said City.
Done in council, and ratified under the Corporate Seal of
said City, this tenth day of January, in the year of
[L.S.] our Lord on thousand eight hundred and ninety-
three, and in the one hundred and seventeenth year
of the sovereignty and independence of the United
Sates of America W. W. GILREATH, Mayor.
F. J. BOSTICK, Clerk.