Excerpt from Ordinances of the Corporation of the City of Philadelphia: Passed Between the First Day of January, One Thousand Eight Hundred and Fifty, and the Sixth Day of June, One Thousand Eight Hundred and Fifty-Four; And Acts of the General Assembly of the Commonwealth of Pennsylvania, Relating to the City Sect. 2. And be it further ordained and enacted by the authority aforesaid, That the certificates to be issued Redeemable to the lenders of the money so borrowed, shall bear an 1870 interest not exceeding six per centum per annum, payable half-yearly on the first days of January and July, and be redeemable on the first day of January, Anno Domini eighteen hundred and seventy, and shall be in like manner with the certificates of the other loans authorized for the purposes of said Gas Works. Sect. 3. And be it further ordained and enacted by the authority aforesaid, That the said Trustees shall set Sinking apart out of the profits of said Gas Works, the sum of ten fund there per centum per annum on the amount borrowed by virtue for' of this Ordinance, for the purpose of paying the interest thereon; and such part of the ten per centum per annum as may not be required for the purpose of paying said interest, and the accumulations thereof, shall be invested in the same manner and for the same purposes as the other appropriations to the Sinking Fund of the said Gas Works are now directed to be invested, accumulated and applied; and any premium that may be received on the said loan, together with any unappropriated profits of the said Works up to the first day of January, 1851, shall be placed to the credit of the said Sinking Fund. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.