Roanoke daily times. (Roanoke, Va) 1886-1890, 1889-12-31
AN 0RDIN 4 NOD.

At meeting Of the coancil Of th4
city of Roanoke, held December 10th,
1899, 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 It's president.
filed on this. 3rd, day OF December
1889
/. That the sergeant and judges OF
election for the said city OF Roanoke
do open a poll at the several voting
precincts of said city, on Tuesday,
the 2Sth day of January, 1880. 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 III
amount not exceeding one hundred
thousand dollars for the purpose 81!
making a second and further sab
scription 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 ana
make said subscription shall be upon
the following terms and conditions
namely:
|. The said council may subscribe
for the stock Of said company 10 tic
amount of one hundred thousand
dollars provided, that in doing 50
the aggregate debt of the city snail
not exceed ten per centum OF the
assessed value of the property. req!
and personal. within the city limits.
II. That the said company shalt
within ninety days after The said sub
scription shall be made, commence 10
construct its line of road ut lis fer
minus in said city Of Roduoke, or
within one mile of the city limits ana
shall prosecute the same in Il bone
fide manner with all reasonable dill
gence to its completion.
III. The bonds of the city OF R1t
noke shall bear per cent. interest
and shall be redeemable i'll thirty
years, and shall be issued and deliV-
cred to a trustee, TO be agreed upon
between the council of the city OF
Roanoke and the president OF the
Roanoke and Southern railway. Inc
said trustee upon the certificate OF
the chief engineer of said railway 0i
the completion of the grading OF such
and every mile OF said road iroih
Roanoke city southwark shall deliver
to said railway the bonds OF sald c!ty
to the amount of $4,000 and upon
like certificate OF the engineer for
each and every mile of said road
when the superstructure is completed.
and ready for operation, the said
trustee shall deliver to said railway
bonds to the amount OF $4,000 per
mile until the entire SUN OF $lO0,UJ1
provided for in this ordinance shall
be delivered.
Upon the delivery of the
bonds of the said trustee 10
the railway company the sad
company shall deliver TO the SAID
trustee certificates of stock IN sad
railway to the full amount OF said
bonds.
". The subscription when made
by the city council shall be upon the
terms and conditions herein set forth.
and should the said company fail 10
comply with said terms and condi-
tions, then, and in that event, the
said 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 18Th OF the code
of Virginia, and the question sub
United shall be determined under
the provisions of section 90, chapter
V. of the charter of said city.
4. The sergeant shall cause ceTtl-
fed copy of this ordinance TO be pub
lished in the daily papers of this city,
and shall post a copy thereof ut each
of the voting places for thirty days
previous to the day OF election.
A copy-teste.