Roanoke daily times. (Roanoke, Va) 1886-1890, 1890-02-04
AN ORDINANCE

at a meeting Of the council hold
January IA, 1890, the following ordi-
nance was adopted:
Be it ordained b the council OF
the city of Roanoky upon the pc
titiou of the Roanoke, and Souther
Railway company, by its president,
filed ON the Srd 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 18th day of February, 1890, ana
take the sense Of tho freehold voters
on the question, whether the sale
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 q 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 sald bonds
and raise said subscription shall be
upon the following terms and con-
ditions namely:
/. 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 after said subscrip-
ton shall be made, commence to con-
struct its line of road at point within
one mile from the present city limits
of the city of Roanoke, and shall pros
ecute the same in bona tide manner
with all reasonable diligence to IT'D
completion, and furthermore, thar
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 be issued and delivered the said
Roanoke and Southern railway as 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 bonds
of said city to the amount O.
five thousand dollars per mile until
the entire sum of 800, 900 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 OF
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, anC
whenever the said company fail to
comply with said terms and condi
tons, then, and in that event, the
said subscription, at the option OF
said city, shall be void.
Y. The election shall be held and
conducted in the manner provided for
under section 1913 and 1244 of the code
of Virginia, and the question sub
Initted shall! be determined under
the provisions Of section 80, chapter
V. of the charter OF said city.
VI. The sergeant shall cause ccrti'
fled copy of this orc nance to be pub
lished in the daily papers of this city,
and shall post copy OF the same al
each of the voting places for thirty
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 at
sunrise on
TUESDAY, February IS, 1890
for a vote to be taken as specified in
said order. G. w. THOMAS,
Sergeant.
January 18th, 1890.
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