Roanoke daily times. (Roanoke, Va) 1886-1890, 1889-12-19
AN ORDINA nee.


At meeting OF the council OF the
city of Roanoke, held December 10th,
1889, the following ordinance was
adopted
Be it ordained 10y 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,
TT-h H. sergeant and Judges of
election tor the said city NO.. Ok. Se
do open a 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
OH the question, whether the SAID
council shall he authorized, in the
name of aud for the use of the city,
TO cause 70 he issued. bonds 10 an
amount not exceeding one hundred
Thousand dollars for the purpose of
making IA second and further sub
scrlption TO the capital stock of the
Roanoke and Southern Railway com
pauy.
>. The said election shall be held
and the authority 10 issue bonds and
make said subscription shall he 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 shalt
within ninety days after the said sub
scription shall be made, commence to
construct its line of road at its ter
minus in said city of Roanoke, or
within one mile of the city limits and
shall prosecute the same in bona
fide manner with all reasonable dill
gence TO its completion.
III. The bonds Of the city of Roa-
noke shall bear per cent. interest
and shall be redeemable in thirty
wears, and shall be issued and dellv-
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
to said railway the bonds of said city
to the amount of $4,000 and upon
like certificate of the engineer for
each and every mile of said road
when the superstructurei is completed,
and ready for operation, the SAID
trustee shall deliver to said railway
bonds to the amount Of $4,000 pei
mile until-the entire SUN of $500, 00C
provided for in this ordinance shall
be delivered.
Upon the delivery of the
bonds of the said trustee to
the 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
by the city council shall be upon the
| terms and conditions herein set forth
and should the said company fail tc
comply with said terms and condl
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 fol
under section 1243 and 1914 of the code
of Virginia, and the question sub
mitted shall be determined under
the provisions of section so, chapter
V. Of the charter of said city.
4. 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 eact
of the voting places for thirty day.
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 a
sunrise on
TUESDAY, JAN. %, 1896
for vote to be taken as specified il
said law. q. w. THOMAS,
Sergeant.
Roanoke, December 18th, 1889.