Roanoke daily times. (Roanoke, Va) 1886-1890, 1890-01-25
AN ORbIN i nee.

At q meeting OF the council held
January IA, 1890, the following ordi-
nance was adopted:
Be it ordained by the council of
the city Of Roanoke. upon the pc
tition OF the Roanok , and Soutler
Railway company, by its president,
filed on the 3rd day of December.
1859.
/. That the sergeant and judges of
election tor the said city of Roanoke
do open poll at 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
name Of and for the use of the city,
to cause 70 be issued, bonds TO an
amount not exceeding one hundred
thousand dollars for the purpose OF
making a second and further sub
scriptiou to the capital stock of the
Roanoke and Southern Railway CON-
pany. :,
2. The said election shall be held
and the authority to issue said bonds
and raise said subscription shall be
upon the following terms and con-
ditions namely:
l. The said council may subscribe
for the stock OF said company to the
amount of one hundred thousand
dollars; provided, that the ag-.
gregate debt of the city shall
not exceed ten per centum of the
assessed value of the property. real
and personal. within the city limits.
IL That the said company shall,
within ninety days alter said subscrlp-
ton shall be made, commence to con
-truet It's line of road alta point within
one mile from the present city linlts
OF the city of Roanoke, and shall pros
ecute the same in Il bona fide manner
with all reasonable diligence to It's
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.
III. The bonds of the citl' OF R"a
noke shall bear 6per centum interest
Der annum and shall he redeeina6le
in thirty years from their date, and
shall be issued and delivered the said
Roanoke and Southern railway us fol
lows: Upon the certificate The chiei
engineer of said railway of the com
pletion Of the grading of each and
every mile OF eaid road from Roa-
noke city sonthward, the city of Roa,
noke shall deliver 70 said railway
the bonds of said city 10 the amount
of five thousand dollars and upon
like certificate OF the engineer FOR each
and every mile of said road when
the superstructure tx complete. and
ready for operation, the said city
| shall deliver to said railway honds
OF said city TO the amount oil
five thousand dollars rer mile until
the entire SUN of 100000 provided for
| in this ordinance shall he delivered,
Upon the delivery oil each Install
ment of said bonds TO the railway
company the said company shall de
liver to the said city certificates ri
stock in said railway TO the amount
OF said bonds.
w. The subscription when made
by the city council shall be upon the
terms and conditions sci forth, and
whenever the said company fail to
| comply WIFI Salu teFius anu eoiui
lions, then, and III ::.::tt event. the
said subscription, at the option oil
said city, shall be void.
V The election shall be held and
conducted IN the manner prov lied fol
under section 1913 and 1244 OF the code
of Virginia, and the question sub
united shall be determined under
the provisions OF seclicn 81, chapter
v. OF the charter OF said ely.
VI. The sergeant SHAH Cause Ii vertl
fed copy of this ordinance 10 be pub
l,shed in the daily papers OF This city
and shall post copy of the same al
each of the voting places FIR thirt,
days previous to the day OF election
A copy-teste.
GEO. l. BENNETT, Clerk.
In obedience to the foregoing order
notice is hereby given THAI the polk
will be opened at the several voting
precincts of the city Of Roanoke al
sunrise on
TUESDAY, February IS, 1890
for vote to be taken as specified il
said order. G. w THOMAS.
Sergeant.