Roanoke daily times. (Roanoke, Va) 1886-1890, 1890-01-01
AN 0RDINA nee.

At meeting Of the council OF the
city OF Roanoke, held Decem Der 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 it's president.
fled on this, Srd, day of December,
1889.
1. That the sergeant and judges OF
election for the said city OF Roanoke
do open 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 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:
/. 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 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 u bona
fde manner with all reasonable dill
gence to its completion.
III. The bonds Of the city of Roa
noke shall bear 6 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 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 suln OF 500, 200
provided for In this ordinance shall
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.
Nv. The subscription when made
by the city council shall be upon the
terms and conditions herein set forth,
and should the said company fall to
comply with said terms and condi'
tions, then, and in that event, the
said subscription, at the option OF
said city, shall be void:
8. The election shall be held land
conducted in the manner provided for
under section 1913 and 1914 OF the code
OF Virginia, and the question sub
mitted shall be determined under
the provisions of section 30, chapter
y. Of the charter of said city.
4. The sergeant shall cause certl-
fed copy OF this ordinance to be pub
ilshsd In the daily papers Of this city,
and shall post copy thereof at each
Of the voting places for thirty days
previous to The dey OF election.
A copy-tssts. ,.,rnn o,.-h
In obedience to the foregoing order,
nutics Is hereby given that the polls
viii be opsned at the several voting
precincts of the city of Roanoke at
sunrise on
TUESDAY, JAN. %, 1890
for a vote to be taken as specified in
said law. C. W. THOMAS,
Sergeant.
Roanoke, Decesnbss assh. 1880
.Gsyaa yH sssI