Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1836-05-09

MONEY on loan 10 pay tie subscription Of the Mayor
and Commonahy Of The torn Of Lychburg, for
Stock tie james Rirer and kaaaieAa Company.
(rsssrp rsnEu AIRY 9, ls3c.)
Section /. BE i, ordained by the Board of Com
mon Council for the Corporation Of Lynchburg, ia
Common Hall assembled, That il shall be lawful for
David &. lIuucll, Maurice II. Garland. John Ilol-
Inns, John VI. Otey. Snlthson II. Davis, John c.
Meem, John NJ. Warwick, John Early and Fortuna
tus : ydnor, who are hereby appointed Commissions
for thai purpose 10 raise, by way OF 1an for the
of the Corporation, sum OF money, not exceed
ing one hundred thousand dollars.
See. > BE II further ordained, That for the ptr-
pose OF eiectIng such loan, II shall be the duty Of
SAID Commissioners TO advertise III the newspapers
OF this town, aud such other newspapers they may
think proper, or At least six weeks that they will q:
such time and place, they may appoint receive
sealed proposals for the whole any part f such
loan upon the following conditions, viz: The loan
to bear interest oil SIX per cent. per anu payable
hcml- annually al the Office of Discount and Deposit
OF the Farmers Bank OF Virginia, at Isnchburg. the
principal rredeemable until the st day OF January
500, aud afterwards the pleasure OF the Corpora
tlou-IIat no proposal Will be received for less
/ than one hundred dollars, the proposer stating
the amount for which he offers, and the Creates
sum lie will pay ion each llnd ed dollars OF
stock Subscriptions to be paid to the treasurer OF
the Corporation for the time being, by instruments
follows ten per cent. AZ the time OF subscribing,
and the balance III such acquisitions asthc Common
Council nay call Tor, agrecaby the contract be
tween the parties
Sec 3. BE it further ordained, That any person
persons, bodies polite corporate subscribing
for stock, and failing to pay the nStalments they
become due and payable, shall ottit TO the Corpo-
ration the sum they may ave paid.
Sec. 4. be II further oldained, That the CommiS-
sioncrs aforesaid shall open the whole oil the propo-
sal, that may have been received At the time and
place appointed. and shoudthcy sefmne to accept
any one or more ri Them they Shall immediately mo-
tily the person persons bodies polltI porac,
whose proposals shall have been accepIed, ct the
fact, aud require them 10 come forward and comply
with the terms OF tue loan prorded however, thai
should the SAID Commissioners not receive satstac-
tory proposals for the whole amount hereby
CURED to he raised. much thereof as will an
swer the purpose herein contemplated. they NAV, at
their discretion proceed TO advertise, before dl
rccted, from time to time, Until such shall be
raised.
Scc. 3 lie 1t further ordained, That upon pay
! ment of any insallnen of the stock subscribed
for, the treasurer shall grant receipt for the sauc
III the following form
" Corporation ofLynchbmg, dan Of IL =,
Received OF A. B. - dollars, being the - in
salment OF his subscription OF - dollars, to the
loan the benefit OF the Corporation OF lynchbrg
| {. ID. treasurer Which receipt shall bear in
tercst OF six per cent. per an,nn, PAYABLE wren MI
the lnStalments shall have been paid in but shall not
! be transferable.
Sec. 8. he ii further ordained, That on payment,
10y any Subscriber for stock, of the last nslameut
ms her or her subscription, the whole OF the Re
ccptS previously given to him, her them snail be
cancelled, the interest due upon them paid and the
treasurer shall grant to such subscriber printed scrip
! for the amount ol his subscription, in the following
! form:
" Cooperation ofI.ynchburg, sir per cent Stock Of
! 1860, Ao- BE it remembered That the
! Mayor aud Commonalty OF tue town of lvnch6urg.
are indebted 10 \. Il. aud - executors or ad-
| mlnlsraors, IN the sum of - dollars, bearing an
interest OF SIX per cent. per annum, PAYABLE sem:-In-
nually, at the office of Discount and D-posite of the
Farmers Bank OF Virginia, at lynchburg, the prin-
cipa lrr-decmable until the LIST of January 1850,
aud afterwards at the pleasure of the Corporation
according TO the provisions Of am Ordinance Of the
! Common Council, passed the 9th DAY of February.
1896. CD. treasurer" And there shall be Iegbly
printed, the margin of said scrip the follow nc
words: Transferable only at the office of the
surcr for the Corporation of l.ynchbng.
Sec. I. Be iturthcr ordained, That the mcasur-
Ell shall enter book, to be provided and kept by
HIM torthat purpose account Of all the scrip is
sued by Inn aforesaid, and Of all transfers of the
same, and that all transfers of the stock created bv
virtue OF this ordinance, shalt be made either per
sonolly l., the holder of the scrip, or by power OF
torncN, III the following iorm " Know all men by
! these presents that l. a. Is. OF -. do mai e.
constitute and appoint f. +. my true aud lawful at
toruey for me, and IN my name, and behalf tran.
ter to any person or persons, - dollars of six per
cent stock Of the Corporation of L>nchburg, now
standing in my name on the books OF the treasurer
of SAID Corporation. Witness my hand and seal
this, - day of - Is Signed y b. [srAL.1
1cknowe iged in the presence EN-. l. s. h. H.
Which power of attorney it shall be the duty of the
treasurer 10 file away and carefully preserve. |,
shall moreover be his duty cancel the old scrip ol
the sock so transferred, by endorsing on its face
lSInnsfeued to -, the - dav of
&C. d. treasurer" Which scrip, 80 cancelled
he shall also tlle awsy and preserve.
! Sc. :. he tiurhcr ordained. That the faith
OF thus Corporation Is hereby mreyocaby pledged 70,
the regular payment OF the interest and final redemp
ton of the principal OF the debt hereby authorised to
! be created
Sec. g. BE ii further oriain ID. that the money
obtained as aforesaid shall be applied, under the iii
rcctlon OF the Common Council, TO the payment of
the subscription of the Mayor and Conlmonaltv of
the town OF l.,nchburg, in the stock of the James
kWer and kanawha Company.
Sec. TO- BE II further ordained That this ordi-
nance shall commence and be in force from and af-
! ter the passage thereof.
Copy-Trste,
ID, ROBES, c. c. c.
~ IN. Richmond Uhig. Me York journal o.
Commerce, phHadel2hl National Ga,ene and Baiii-
more american ,cW puLiish II, ore5lnr ,cl,r and
forrard accounts 10 this I't
4, May , w4w