Roanoke daily times. (Roanoke, Va) 1886-1890, 1890-01-03
AN ORDINANCE.

at q 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 its president.
filed on this, 3rd, day of December,
1889.
1, 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 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 au
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 COM
pany.
.. 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 so
the aggregate debt of the city shall
not exceed ten per centuln Of the
assessed value of the properly. 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 ut its ter
minus in said city of Roanoke, or
within one mile of the city limits and
shall prosecute the same in II bona
lide manner with all reasonable dill
gence to its completion.
III. The bonds of the city of Roa
noke shall bear per cent. interest
aud shall be redeemabe in thirty
years, and shall be issued ard deliy-
cred TO trustee, to be agreed upon
between the council Of the city OF
Roanoke and The president of the
.;oano:.e and Southern raj way. III e
sid trustee upon TIE certificate OF
the chief engineer Of said railway of
che completion o! the grading oil sdci
and every mile OF said road from
Roanoke city southwark shal! deliver
10 said railway The bonds Of said city
10 the amount Of $1,000 and upon
like certificate OF the engineer foI
each and every mile of said road
when the supcrstructure is completed.
and ready FOR operation, the sale
trustee shall deliver TO said railway
oondS to the amount OF 5000 'ei
mile until the entire -un, cf SlUO,0ot
provided for in this ordinance shall
he delivered.
Upon the delivery of tn
oonds of the sald trustee 70
the railway company the sale
company shall deliver to The sale
trustee certificates nf stock in safe
aiiway to the full amount OF safe
ponds.
~. The subscription when !rad'
by the city council shall! be upon the
terlus and conditions herein SET forth.
and should the said company fai! 20
omply with said terms and condi
rions, then. and il that event, tht
said subscription, at the option OF
said city, shall be void.
3 The election shall be held and
conducted in the manner provided for
,nder section 1913 and 1914 of the code
of Virginia, and the question sub
United shall be determined under
fhe provisions Of section 80, chapter
V. of the charter OF said city.
/. The sergeant shall cause certi
tied copy of this ordinance TO be pub
lished in the daily papers of this city
and shall post copy thereof at each
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 than the polls
will be opened at the several voting
precincts of the city of Roanoke al
sunrise on
TUESDAY, JAN. %, 1890
for vote to be taken as specified in
said law. c. W. THOMAS,
Sergeant.
Roanoke, December 18th, 1880.
dec14 till ian29