Roanoke daily times. (Roanoke, Va) 1886-1890, 1890-02-06
AN ORDINAN nee.

At meeting Of the council held
January IA, 1890, the following ordi-
nance was adopted:
Be it ordained b the council of
the city OF Roanoky upon the pc
tition of the Roanoke, and Souther
Railway company, by its president,
filed on the 3rd day Of December.
1889.
/. That the sergeant and judges of
election tor the said city of Roanoke
do open poll ut the several voting
precincts of said city, on Tuesday,
the 18th day OF February, 1890, and
take The sense of the freehold voters
on the question, whether the said
council shall be authorized, in the
hume 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 Il second and further sub
scription to the capital stock OF the
Roanoke and Southern Railway CON-
pnny.
.. The said election shall be held
and the authority to issue SAID bonds
and raise said subscription shall be
upon lIlt lOlloN lti StliN NOAA
ditious namely;
|. The said council may subscribe
for the stock of said company to the
amount of one hundred thousand
dollars; provided, that the ag-
gregatc 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 said subscrip-
ton shall be ulade, commence 10 con
Stru:t Its line of road at Il point within
one mile from the present city limits
of the city OF Roanoke, and shall pros
ecute the same in Il bona tide manner
with all reasonable diligence TO its
completion, and furthermore, that
within six months after the work
shall be so begun, the said company
shall connect between the point just
indicated and its terminus within the
present limits of the city of Roanoke.
Ill. The bonds of the city of Roa-
noke shall bear Gper centum interest
Der annum and shall he redeenable
in thirty wears from their date, and
shall be issued and delivered the said
Roauohc and Southern railway ms fol-
lows: Upon the certificate the chief
engineer of said railway Of the com
pletion of the grading of each and
every mile OF s;rid road from Roa-
nokc city southwark, the city of !toa-
noke shall deliver to said railway
the bonds of said city To the amount
of five thousand dollars and upon
a.. t., 2 l,a for nanh
aud every mile of. said road when
the superstructure is complete. and
ready for operation, the said city
shall deliver to said railway bonds
of said city 10 the amount OF
five thousand dollars per mile until
the entire suu. of 800, 200 provided for
in this ordinance snail be delivered.
Upon the delivery OF each Install
ment OF said bonds 10 the railway
company the said company shall de
liver to the said city certificates Of
stock in said railway 10 the amount
OF said bonds
~. The subscription when made
by the city coun"i! shall be upon the
terms and conditions set forth, and
whenever the said company fail to
comply with said terms and condi-
lions. then. and in s..::at event. the
said subscription, AT the option OF
said city, shall be void.
Y. Iha election shall be beld and
conducted III TIE manner prov ided FOR
under section 1913 ans. i2i: OF the code
Of Virginia. and the question sub
uitteG >la. be determined under
the provision. o: scc,!sn -, chapter