Roanoke daily times. (Roanoke, Va) 1886-1890, 1890-01-02
AN ORDINANCE.

At meeting Of the council of the
! city Of Roanoke, held December 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
filed on this, Ord, day Of December
1889.
/. 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 28th 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 al
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 coin
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:
l. The said council may subscribe
for the stock OF said company to the
amount of one hundred thousand
dollars; provided, that in doing sc
the aggregate debt OF the city shall
not exceed ten per centum of the
assessed value of the property. rea
and personal. within the city limits
II. That the said company shall
within ninety days after the said sub
scription shall be made, commence tt
construct it's line OF road at its ter
minus in said city of Roanoke, OF
within one mile of the city limits anC
shall prosecute the same in q bona
tide manner with all reasonable dill
gence to it's completion.
III. The bonds of the city Of Roa
noke shall bear per cent. Interest
and shall be redeemable in thirty
years, and shall be issued and deliv
cred to trustee, to be agreed upoI
between the council Of the city o
Roanoke and the president OF TIT
Roanoke and Southern railway. The
said trustee upon the certificate o
the chief engineer of said railway o
the completion of the grading OF sucf
and every mile OF said road iron
Roanoke city southwark shall delive
to said railway the bonds OF said cit.
to the amount of $4,000 and upor
like certificate of the engineer TO
each and every mile of said roat
when the superstructure is completed
and ready for operation, the sait
trustee shall deliver to said railwa.
bonds to the amount OF $4,000 pc
mile until the entire SUN Of $1OO,OO
| provided for in this ordinance shall
be delivered.
Upon the delivery of tn
bonds of the said trustee r.
the railway company the SAT-
company shall deliver to the sal(
trustee certificates of stock in salt
railway to the full amount OF salt
bonds.
w. The subscription when mad
by the city council shall be upon tn
terms and conditions herein set forth
and should the said company fail t.
comply with said terms and condl
tions, then, and in that event, tn
said subscription, at the option o
said city, shall be void.
8. The election shall be held ant
conducted in the manner provided 10
under section 1243 and 1914 of the cod
of Virginia. and the question sub
United shall be determined und'
the provisions of section SO, chapte
V. OF the charter of said city.
4. The sergeant shall cause q cert
fed copy of this ordinance to be pub
lished in the daily papers OF this city
and shall post a copy thereof at eaci
Ut the voting places for thirty day
previous to the day Of election.
A copy-teste.
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, %, 1896
for vote to be taken as specified il
said law. c. w. THOMAS,
Sergeant.
Roanoke, Decemb q 18th, 1889.
deceit till jan29