Roanoke daily times. (Roanoke, Va) 1886-1890, 1890-02-13

January II, 1890, the following ordi-
nance was adopted:
Be it ordained by the council Of
the city OF Roanoke, upon the pc
tition of the Roanoke, ana Southern
Railway company, by its president,
filed on the 3rd day of December.
1889.
/. That the sergeant and judges of
election for the said city of Ronnoke
do open a 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 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 COM
pany.
9. The said election shall be held
and the authority to issue SAID bonds
and raise said subscription shall be
upon the following terms and COIL
ditous namely:
|. The said council may subscribe
for the stock Of said company to the
amount of one hundred thousand
dollars; provided, that the aS-
gresate debt of tie city shall
not exceed ten per c' 1tum of the
assessed value of the property. real
and personal. within the city limits.
III That the said company shall,
within ninety days after said subscrlp-
ton shall be made, commence t. con
struct its line of road at a point within
one mile from the preser 'ty limits
of the city of Roanoke shall pros
ecute the same in 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.
III. The bonds of the city of Roa-
noke shall bear 6per centum interest
per annum and shall be redeemable
in thirty years from their date, and
shall he issued and delivered the said
Roanoke and Southern railway rs fol-
lows: Upon the certificate the chief
engineer of said railway of the com
pletion of the grading of each and
every mile OF said road from Roa-
noke city southwark, the city of Roa-
noke shall deliver to said railway
the bonds of said city to the amount
Of five thousand dollars and upon
| like certificate of the engineer for each
and every mile of said road when
the superstructure is complete, and
ready for operation, the said city
shall deliver to said railway boncss
of said city to the amount OF
five thousand dollars per mile until
the entire sun of $4,000 provided for
in This ordinance shall be delivered.
Upon the delivery Of each Install
ment of said bonds to the railway
company the said company shall de
liver to the said city certificates 0f
stock in said railway to the amount
OF said bonds.
". The subscription when made
by the city council shall be upon the
terms and conditions set forth, and
whenever the said company fail to
comply with said terms and cohdi
tions, then, and in that event, the
said subscription, at the option o.
said city, shall be void.
V. The election shall be held ano
conducted IN the manner prov ided fol
under section 1243 and 1911 of the code
of Virginia. and the question sub
United shall be determined under
the provisions OF section 50, chapter
V. of the charter OF said city.
VI. The sergeant shall cause q certl
fed copy of this ordinance to be pub
l,shed in the daily papers of this city
and shall post copy OF the same a.
each of the voting places for 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 that the polls
will be opened at the several voting
precincts of the city of Roanoke a.
sunrise on
TUESDAY, February IS, 1896
for a vote to be taken ms specified II
'' Sergeant.
January 18th, 1890.
! ian10.1m.