F Manning

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F Manning - not legally spend during the pro- fiscal year....
not legally spend during the pro- fiscal year. Effect on Bond Issue Corporation Counsellor Manning Manning emphasized that bonding attorneys attorneys would not allow the city even to Issue its proposed outstanding outstanding debt funding bonds if the amount would make total oxpen- , ^ „, , , dltures for the fiscal year, end- Ing May 1, exceed the sum set in the appropriation ordinance for | the year. i.Tho $45,000 balance in appro-1 prlatlons was left after allowance 1 " qf claims at the Dec. 7 meeting, b\it claims allowed last night—In- dudlng that for the sewer engineer- priatlons was left after allowance ng services—are yet to be rom the'apparent balance. paid The motion,, adopted on the engineering engineering claim provided that "the S,heppard, Morgan, & Schwaab bill be allowed, and that the comptroller comptroller be Instructed to charge the various Items' contained therein to the proper appropriations". . Last week the city has confessed judgment to $18,000 in outstanding debts—a large part of them directly directly or indirectly the result of t]he sewer project—with a view to Issuing a bond issue to fund them. The bonds are to be Issued under a statute allowing city councils to |und judgments with a referendum. The engineering claim now can be added immediately to the judgments judgments obtained last week and combined combined with them In tho funding bond Issue, Corporation Counsellor Manning advised the engineers.

Clipped from
  1. Alton Evening Telegraph,
  2. 22 Dec 1936, Tue,
  3. Page 2

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