Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1836-03-31

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JOHN EARLY.
tr Ordnance, PRECEDING t6r The raisia@ sun Of
money loan, TO Pay the subscription Of he Nogof
and 'Commonahy Of he tota Of Lyacd1ug, for
stock in tie JemcS Rircr and h aa0ttha ComPcny.
PASSED FEBRUARY !. l5p6)
Section l. BE it ordained by tic Hoaid OF Com
Don Council for the CorpoI=ftIon OF I.yuehbag, in
hommon Hall assembled. That it shalIbe lawful ior
.)nld G. Muireil, Maurice il. Garland, lhn iioI-
mus, John VI. Dief. Smhaon H. Davis. John G..
nerm, John NJ. Warwick John Early and Fortuna
tus Sydnor, who are hereby appointed Commission
ior that purpose, to rase by way OF loan, inr the
OF the Corporation. sum al none, LIT exceed
ng one hundred thousand dollars
Scc.2. Be II further ordained, That for the p1r-
pose Of eilectng such loan, II shall be The duly Of
said Commissioners to adtettlse IN Tie newspapers
this town, and slch other news papers as they may
llnk proper oI a least SIX weeks, that they Will,
such time and place, they may appoist, receive
sealed proposals tor the Whole any part of such
ban, upon the following conditions VIZ: Tie loan
bear interest OF six per cent per paya-
Die semi annually, at the office OF Discount and De
post of the Farmers Bank of Virginia at Lynch
bury, the principal rrcdeemablc until the Gfst day
of January, 1860, and afterwards at the pleasure of
the Corporation-1'hm no proposal will be received
Tor less sum than hundred dollars, tie pforo-
ser stating the amount Tor which he offers. and the
greatest sum he will pay tor each one hundred dollars
of stock. Subscriptions To BIZ paid to the treasurer
as follows per cent, At the time Of subscribing
aa1 the balance ii such ro.aisfo', as taet aiHi'On
Council NAY call Tor, aaieeah.1 % the contract be
tween the parties
Sec 3. BE 1t further ordained, That any person
or persons bodies polite corporate. subscribing
Tor stock, and falling to pay the instruments a. they
become due and payable, shall forfeit to die tolPo-
7tlou the sum they may have PAID.
See. A. BE i further ordained That he Gonmis-
siorer atorosald shall open tie Whole ut tta 9toi
sails that may have been received at the TIME aud
place appointed, and shoull they determine 10 accept
any one more of them. they shall Immediately
notify the person persons, bodies polite OF corpo-
rtc. whose proposals shall have been accepted, of
tie fact, and require them to come torwr I'd and com
ph with the terms of the lean prortded, however.
TINT should the sad Commissioners not receive sd
tsoctory proposals. for the whole amount hereby re
CURED to be raised, much thereof as viii answer
the purpose herein concn1p plated, they may, at then
discretion, proceed to advertise, as before directed
from time to time until such sum shall be raised.
Sec. 5. BE 1t further ordained, That upon pay
tnent of any instalment of the stock So subscribed
for the treasurer shall grant receipt for tie same
III the following form
" Corporation Of LynctJee, doyof is a.,
Received of 4. Il. - dollars, beng the = IN
stament OF his subscription OF - dollars In the
loan orthc benefit of the Corporation of lynchburg
{ d. treasurer " hlch receipt shall bear an IN
feest Of SIN per cent. per annum, payable "hen all
the nslauents shall have been paid III, but shall not
be transferable
Sec. 6 Be- it further ordained. That payment
by any subscriber for stock, OF tie last nstaneh on
ms herof their subscriptions the whole OF the re
celPts previously given 20 hml, her or them shall be
Cancelled, the interest due upon them pad, ana the
treasurer shall grant to sucn subscriber printed scrip
Tor the amount of his subscription, IN the oiio"InS
form
Cooperation Of LyncAburr, sir ger cent Stock Of
i,6| No. -- lie ii remembered, That the
Mayor and tommonalty OF tie town OF lynchhnr2'
are indebted TO \. i. and - executors OF ad
Illustrators IN the sum OF - dollars bearing an
interest OF SIX per ceut. perannnm, yahle SEM an
I1aly, at the Office Of Discount and l)enos1ie I" tn"
Farmer Bank oiNrginia. at ynchtufg The "a"
opal lredeemabe until the lst day of January lo'"
and afterwards at the pleasure OF the Corporations
according TO the provisions OF an Ordinance oi me
conmJd Council, passed the 9TH day OF febfuafN'
1896, c. b. treasured" And there shall be eglhly
printed on the margin OF said scrip the following
words "Irdnserablc only at the office I" TIC tiea-
Suier Tor the Corporation OF lynchburg.
oec.|. lie II further ordained, That the tteasut-
Shal' enter on book, to be provided and kept oH
'' Tor that purpose, account OF all the Scrip Is
s"eohy HIM as aforesaid, and of all transfers OF the
same ana that all transfers of the stock created ny
niue OF tins ordinance, shallbe made either per
son''y by the holder of the scrip or by power oil
attorney, IN the following form; Know all men by
,"'Se presents, that |. 4. 3. of --, do MAKE
constitute and appoint F.. r. my true and lawful at
or"''' Tor me, and in my name, and behalf 10 lfans
" any person ur persons, -- dollars Oh SIX per
, STOCK OF the Corporation OF lNnchbalS' no"
,'"uhg IN my name on the books OF the treasure I
~ SAID Corporation. Witness my hand and seal
day of - Is Signed y. Il sal" J
uug.E'n2'rledged in the presence Of H. l. q n. l.: -
"nch power of attorney it shall be the duty Oh 'ie
9eaSurer to file away aud carefully preserve II
'h moreover be his duty to cancel the old sef,p'o'
VI, stock so transferred, by endorsing on lis race
10 transferred to -, the - .'dy OF - =,
10 &C. ID. treasurer" Which scrip, SO cancelled
~ shaI also file away and preserve.
SEC 3 BE it further ordained, That the lahh OF
~sN'rporation is hereby revocably pledged Tor inc
s1'ar payment Of the interest and tina>ez,lp''"
The principal of the debt hereby author'ed 10 DC
created.
SEC D. Be it further ordained, That the money
''hed as aforesaid, shall be applied, under 'ilc Ut
mono the Common Eorncil. to the paNfeh' "
~, NV subscription of the Mayor and tonmona''y Z"
p town OF Lynchburg, in the stock OF the Jane
ser and kanawha Company. >.
sec 10. BE it further ordained, That this ofd'
lance shall commence and be in force rom and ate
"e passage thereof.
Copy-Teste,
D. RODI,S, c. c. e.