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create and issue, at such times and in such amounts as the said Com- 

 missioners shall, by resolution, direct, the bonds of the said city, 

 payable within fifty years from the date thereof, and bearing an in- 

 terest not exceeding seven per cent, per annum, payable semi-an- 

 nually. The bonds so to be issued shall not exceed three millions of 

 dollars in amount, including the bonds already issued for such pur- 

 poses ; and shall be sold by or under the direction of the said Comp- 

 troller, at not less than par, either at public or private sale ; and the 

 moneys to arise therefrom shall be called the Brooklyn Park Im- 

 provement Fund. All bonds heretofore issued for the improvement 

 of Prospect Park shall constitute a portion of the same fund ; and all 

 the provisions of the act passed May second, eighteen hundred and 

 sixty-one, entitled " An act to lay out a public park and parade 

 ground for the city of Brooklyn, and to alter the Commissioners' 

 map of the city, passed April seventeenth, eighteen hundred and sixty- 

 one," which relate to the redemption and payment of bonds issued 

 and to be issued for the payment of awards, and improvements, and 

 the creation and management of a sinking fund applicable thereto, 

 shall apply to and regulate all bonds that may be issued for the pur- 

 poses of the said Improvement Fund ; and for the payment of all 

 such bonds, issued and to be issued, with the interest to accrue 

 thereon, all lands within the boundaries of the said park are hereby 

 specifically pledged. 



§ 7. In case the said Commissioners shall at any time require 

 money for immediate use before it can be realized by a sale of bonds, 

 the said Comptroller, on the request of the said Commissioners, may 

 pledge such bonds for a temporary loan of money thereon. All 

 money to be realized from sales or pledges of bonds shall be imme- 

 diately deposited with the Treasurer of the said city, to the credit 

 of the said improvement fund ; and shall be held and used for the 

 construction, improvement and maintenance of the said park, and 

 the adornment thereof. The said Board of Commissioners, through 

 their President and Secretary, shall from time to time make drafts 

 upon the said Comptroller for such amounts as may be required for 

 the prosecution of the park business, after the same shall have been 

 authorized by the Board ; each of such drafts shall specify the ob- 

 ject for which it is drawn, and the Treasurer shall pay the same on 

 the order of the Comptroller, countersigned by the Mayor and City 

 Clerk. 



§ 8. In order to provide for the maintenance and general im- 

 provement of said parks there shall be added to the general tax to 

 be levied in said city, in each and every year, such sum of money, 

 not exceeding one hundred and twenty-five thousand dollars (as 

 amended by Act of 14th of May, 1872) in any one year, as the 

 said Board of Commissioners shall from time to time, by resolution, 

 determine to be necessary for the proper maintenance, improvement 

 and ornamentation of the said parks. The joint Board of Super~ 

 visors and Common Council of the city of Brooklyn shall annually 

 cause the amount so determined by the said Commissioners to be 

 raised and levied in like manner as other taxes are raised and levied 

 in said city, and the same shall be promptly paid over to the said 

 Park Commissioners for the purposes aforesaid. 



