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Payment on certificate of

titled to such payments, a certificate, in writing, signed by the head of such department, specifying the contract upon which such payment is due, and the amount due upon such contract.

$ 32. It shall be the duty of the Comptroller, on the amount due. presentation of such certificate being made to him, to pay the amount thereof, and indorse such payment upon the contract upon which said payment is made; but no payment shall be made upon such contract beyond the amount thereof, and the final payment thereon shall not be made until the head of department having such work in charge, shall furnish the Comptroller, who shall file the same in his office, a certificate, signed by the head of such department, that the work mentioned in such contract has been completed according to the terms of said contract, and to the satisfaction of the head of department giving such certificate. The final payment upon any such contract shall be at least thirty per cent. on the amount thereof, and the certificate of such final payment shall not be given. until the assessment for said work shall be confirmed by the Common Council.

sessment

Bonds.

Record of As- § 33. The Comptroller shall keep a record of all bonds so issued, specifying the particular work on account of which the same may be issued, and all moneys collected on account of any work, for the payment of which said. bonds were issued, shall be faithfully applied as aforesaid; and all sums thus received by the Comptroller, for interest, from the contractors beyond the amount paid as interest, upon the assessment bonds, contemplated by this ordinance, shall be paid into the Sinking Fund pledged for the redemption of the city debt.

Contracts,

§ 34. Sections 28 to 34 shall apply only to contracts of thousand del ten thousand dollars and over. Contracts involving an

less than ton

lars, how

paid. expenditure of less amount than ten thousand dollars may

be paid by the Comptroller, with assessment bonds, issued in accordance with the state law of April 16, 1852, in the manner prescribed by these ordinances, only upon the confirmation of the assessment by the Common Council. And it is also hereby expressly provided that, hereafter, when the Street Commissioner and Comptroller, or either of them, have reason to believe that the assessable pro. perty is insufficient to provide for its full payment by an assessment made in compliance with the laws of the state, and the ordinances of the Common Council, it shall be the duty of the Comptroller to have a certified copy of the valuation of the property fronting on the avenues or streets embraced in the ordinance, and if the sum required to complete the work is greater than the sum which can be assessed and collected from the property, the work shall not be put under contract, but all the facts, with the opinions of the Street Commissioner and the Comptroller, in relation to the matter, shall be reported to the Common Council, to the end that the payment of all assessment bonds issued under this chapter for the payment of contractors may be amply provided for by the property benefited by the improvement.

to exceed ap

§ 35. It shall not be lawful for the several departments Contracts not of the city, and those having charge of expenditures, to propriations. make contracts or incur expenditures authorized by the Common Council, to an amount exceeding the several appropriations made, unless an appropriation sufficient to cover such excess shall have been made by the Common Council.

tions.

§ 36. All resolutions authorizing expenditures to be Appropria hereafter made, shall provide for defraying the same from the general appropriations for the year; but in case any special appropriation shall be made for any object of expenditure under any of the several heads of accounts, the

Proof of the work done.

Repairs on
Roads.

Notice to parties to be assessed.

Payment of interest to contractors.

same shall be considered as forming a part of the several heads of accounts and of the general appropriation.

$37. Each and every contractor shall be required to have an affidavit from the Surveyor, setting forth the amount of work done of every description, that may be charged in each bill or assessment list of said contract, and that said affidavit be attached to said assessment list; also, that the Inspector be requested to furnish an affidavit attached to each contract, that the said work is done according to the plan and specifications; said affidavit to be attached to each assessment list before presented for confirmation.

$ 38. The Street Commissioner is authorized and directed to purchase the materials necessary to make the repairs required to the roads; the said materials to be delivered at points on the roads where the repairs are required; and is authorized and directed to employ such labor as may be necessary, to distribute such materials, and make such repairs without contract.

§ 39. It shall be the duty of heads of appropriate departments, on application being made to the Common Council for any object or measure, the expense of effecting which is by law directed to be assessed upon the property benefited, or for any change or alteration of the established grade or height of any street or avenue, to give notice in the newspapers employed by the Corporation of such ap plication, requesting such as may object to such application, to present the same in writing, at the office of said department, on or before the expiration of ten days from the date of such notice.

§ 40. In all cases of delinquency in the payment of any assessment for work done, under a contract made by any contractor with the Corporation, in respect to any street

or road, and in respect to the building of wharves, piers, slips and sewers in this city, and in all such like contracts, on a final settlement with every such contractor, there shall be allowed and paid to such contractor all interest money which shall have been collected on his account or contract, first deducting the collector's commissions on so much of the said interest as shall have been collected and received by him.

may be made

in certain ca

§ 41. In all contracts for work done at the expense, Full payment and by the said the Mayor, Aldermen and Commonalty, tocontractors for the more speedy execution of any by-laws, ordinances, ses. orders or directions of the said Mayor, Aldermen and Commonalty, and which, by any law the said Mayor, Aldermen and Commonalty are authorized to collect, by assessment or otherwise, from the owners or occupants, lessees or parties interested in any property deemed benefited thereby, provision shall be made for the payment of the amount of said contract, on the completion of the work to the satisfaction of the department making such

contract.

Reservation

§ 42. It shall be lawful for the department making any per cent contract, of the character mentioned in the preceding section of this chapter, to make provision for the payment to any contractor of installments on account of such work, as the same progresses, reserving ten per cent. of the contract price of the work actually done, to remain as security till the whole work be completed according to the contract.

building

43. The Street Commissioner shall hereafter insert a Contract clause in all contracts for building piers and bulkheads, piers, &c. or repairing the same, that no more timber or other materials shall be deposited in the slips or basins than is necessary for the completion of the work specified in the

contract.

CHAPTER IX.

OF THE SINKING FUND.

ARTICLE I.-OF THE SINKING FUND FOR THE REDEMPTION
OF THE CITY DEBT.

II. OF THE SINKING FUND FOR THE PAYMENT OF

III.

INTEREST.

OF THE OFFICERS OF THE SINKING Fund. IV. OF THE DISPOSITION OF REAL ESTATE.

V.

OF THE VALUATION AT WHICH REAL ESTATE
SHALL BE SOLD.

ARTICLE I*

OF THE SINKING FUND FOR THE REDEMPTION OF THE CITY

DEBT.

Sources of the fund for the redemption

§ 1. All moneys heretofore received, and hereafter to of city debt be received, from the following sources, are hereby pledged, appropriated to, and constitute and form, a fund called "The Sinking Fund of the City of New York, for the redemption of the City Debt," until the whole of the stocks of the city of New York shall be finally and fully redeemed, namely:

*The following note is taken from the edition of the Corporation Ordinances revised and published in 1845.

On the 9th of August. 1813, the Common Council passed the first ordinance creating the Sinking Fund. (See MSS. Book of Ord. March 9, 1812, p. 293.) This ordinance does not appear in any printed edition of the Corporation Ordinances, but with some slight variations, is the same as those appearing in the revisions of 1817, 1821, 1823, 1827 and 1834, p. 219.

The Revision of 1839, p. 140-145, contained the same ordinance with some variations. The whole subject has, however, been revised in the present ordinance, the general objects of which are thus stated in the report of the Finance Committees of both Boards, presented to the Board of Aldermen, December 29, 1843. (Doc. Board of Aldermen, vol. 10, p. 593.) Speaking of the present ordinance, the Committee observe :

"The present ordinance aggregates, with some amendments, the propriety of which

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