Roanoke daily times. (Roanoke, Va) 1886-1890, 1889-12-15
AN ORDINANCE.

At a meeting Of the council of the
city OF Roanoke, held December 10th,
1889, the following ordinance was
adopted:
Be it ordained by the council of
the city of Roanoke, upon the pc
tition of the Roanoke and Southern
Railway company, by its president.
filed on this, 3rd, day of December,
1889,
/. That the sergeant and judges of
election tor the said city of Roanoke
do open q poll at the several voting
precincts of said city, on Tuesday,
the 2Sth day of January, 1890, and
take the sense of the freehold voters
on the question, whether the said
council shall be authorized, in the
name of and for the use of the city,
to cause TO be issued, bonds to an
amount not exceeding one hundred
thousand dollars for the purpose Of
making second and further sub
seription to the capital stock of the
Roanoke and Southern Railway COM
pany.
2. The said election shall be held
and the authority to issue bonds and
make said subscription shall be upon
the following terms and conditions,
namely:
l. The said council may subscribe
for the stock of said company to the
amount of one hundred thousand
dollars; provided, that in doing SO
the aggregate debt Of the city shall
not exceed ten per centum Of the
assessed value of the property. real
and personal. within the city limits.
ii. That the said company shall
within ninety days after the said SUBJ
scription shall be made, commence to
construct it's line of road at it's ter
minus in said city of Roanoke, or
within one mile of the city limits and
shall prosecute the same in bona
tide manner with all reasonable dill
gence to its completion.
III. The bonds of the city Of Roa-
noke shall bear q per cent. interest
and shall be redeemable in thirty
years, and shall be issued and deliy-
cred to trustee, to be agreed upon
/ between the council of the city of
Roanoke and the president of the
Roanoke and Southern railway. The
| said trustee upon the certificate of
the chief engineer of said railway of
\ the completion of the grading of such
and every mile OF said road from
Roanoke city southwark shall deliver
20 said railway the bonds of said city
TO the amount of $1,000 and upon
| ike certificate OF the engineer for
each and every mile of said road
when the superstructGre Is completed,
and ready tor operat ton, the saiG
trustee shall deliver TO said railway
bonds to the amount of $1,000 per
mile until the entire suni of $780, 900
provided for in this ordinance shall
be delivered.
Upon the delivery of the
,onds of the said trustee TO
he railway company the said
company shall deliver to the said
trustee certificates of stock in said
railway to the full amount OF said
bonds.
| w. The subscription when made
terms and conditions herein set forth,
and should the said company fail to
'omply with said terms and condl-
tions, then. and in that event, the
aid subscription, at the option OF
said city, shall be void.
3. The election shall be held and
conducted in the manner provided for
Under section 1913 and 1914 Of the code
Of Virginia, and the question sub
uitted shall be determined under
the provisions OF section so, chapter
V. of the charter Of said city.
| t. The sergeant shall cause certi-
fed copy of this ordinance to be pub
lished in the daily papers Of this city,
and shall post copy thereof at each
Of the voting places for thirty days
previous to the day of election.
A copy-teste.
GEO. L BENNETT, Clerk.
In obedience to the foregoing order,
notice is hereby given that the polls
will be opened at the several voting
precincts of the city of Roanoke at
sunrise on
tuesday, JAN. %, 1890
for vote to be taken as specified in
said law. G. w. THOMAS,
Sergeant.
Roanoke, December 18th, 1889.