Roanoke daily times. (Roanoke, Va) 1886-1890, 1889-12-27
AN ORDlNA nee.

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 for the said city of Roanoke
do open u 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
scription to the capital stock OF the
Roanoke and Southern Hallway COM
pany.
?. The said election shall be held
and the authority to issue bonds ana
make said subscription shall be upon
the following terms and conditions
namely:
|. 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 ninrty days after the said sub
scription shall be made, commence to
construct IT'S line of road ut its ter
minus in said city of Roanoke, or
within one mile of the city limits and
shall prosecute the same in IL bona
tide manner with all reasonable dill
gencc 10 its completion.
Ill. The bonds If the city OF Roa
noke shall bear 6 per cent. lnterestt
and shall he redeeIuable in thirty
wears, and shall be issued and dellv-
cred to II 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
10 said railway the bonds of said city
70 the amount of $4,000 and upon
ike certificate of the engineer Tor
each and every mile of said road
when the superstructure Is completed.
and ready for operation, the SAID
trustee shall deliver 10 said railway
bonds TO the amount OF So,000 per
mile until the entire suu of SlO0,00O
provided for in this ordinance shall
be delivered.
Upon the delivery of the
bonds of the sad trustee to
the railway company the said
company shall deliver to the SAID
trustee certificates of stock III salu
railway TO the tuIl amount OF sald
bonds
". The subscription when mad"
by the city council eliali he upon th'
terms and conditions herein SET forth.
Ind should the said company fail 70
ompIy with said terms aud condl
lions, then. and in that event. The
>;ilu SuDS"riHtlpN, at INC cp'iNi W
said city, shall be void.
3 The election shall be held and
conducted in the manner provided Tor
Under section 1913 and l24l of the code
of Virginia, and the question sub
United shall be determined under
the provisions of section 50, chapter
Y. OF the charter of said city.
i. The sergeant shall cause cert
fled copy of this ordinance to be pub
,shed in the daily papers OF this city
md shall post Il copy thereof at eacl
Il the voting place FIR thirty day
previous to the day oil election.
GEO. l. NETT, Jerk.
In obedience 10 the foregoing order
,otice is hereby given THAI the POLL
viii be opened ut the several voting
precincts Of the city OF Roanoke a.
.uurise OH
TUESDAY, JAN. 28, 1890
or vote to he taken rs specified i'll
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