Asheville daily citizen., 1894-04-09
AN ORDINANCE
Of The Board of Aldermen
Of The City OF Asheyillc
Adopted March 26.

Whe reas, the school committee of the
city of Asheville has submitted to this
Board of Aldermen a communication in
the following words:
"To the Honorable the Board Of .Al!cr-
men:
THE Undersigned, composing the
school committee of the city of Asheviile,
respectfully ask your consideration of the
following brlct statement of the financial
condition of the most important depart
ment OF the city.
There are enrolled in The public schools
l,690 children, while there area, 1OG per
sons who are entitled By law to the ben
chit OF public education. OF those who
are not provided for by this committee
probably 400 are attending private
schools. which leaves us to face the
alarming tact that more than 200 of
tins citv's future citizens, upon whose in
telligence the safety of the community
will depend, are today unprovidcd with
any opportunity of education
This makes it evident that it is the
duty OF the committee to establish other
buildings, those we now have being full
and crowded to the verge of danger, and
certainly of discomfort But while recog-
nHng this duty, your committee are not
only utterly unable to provide aldi-
tlonal buildings. but realize the fact that
they cannot even continue the present
schools next year unless the people of the
city will afford us relief from the burden
OF interest which We now have to pay
on the debts which have been contracted
chiefly i'll the erection OF the seyera
school buildings. This debt amounts tn
S25, 900. and encumbers property which
at reasonable estimate is worth $50
600. This debt bears per cent. inter
est and consumes So 900 per annum of the
appropriations made by the county and
city. In fact our past experience teaches
us that these annual appropriations are
not enough to pay the current expenses
and his interest charge.
"Theretore we would urge upon Won
to submit to the qualified voters the
proposal that the city issue its bonds to
the amount of $4,000 of such denomi-
nation and bearing such interest as you
deem proper, SAID bonds under no cir
cumstances to be sold below their par
value and the proceeds to be devoted
solely to the cXtinguishment of the pres
cnt debt of the public schools of Ashe
vile. ". w. West. chairman.
H. A, Gudgcr.
Geo. S. Powell,
!. E. Dickcrs0n,
DR.. !, II. Williams,
W, +. Randolph,
School Committee.
And whereas the city is indebted to
sundry persons for amounts of money
aggrcgating $G5.O0O. all of which are
past their maturity and on each of which
the City is liable to suit attended with
much expense, all of which debt, as well
as the debt of the School Committee,
bears interest at the rate of per cent. |
per annum; and whereas this amount OF |
money can be borrowed at lower rate
of interest, thus saving considerable
sum now required to be paid from the
current income of the CITY;
Therefore, be it ordained, by the Board
of Aldermen of the CITY of Ashe vile, that
proposition be submitted to the quail
fed voters Of the city, that they shall
authorize the issue of the Citv's bonds
in denominations of $500 each, in the
aggregate amounting to 100000,
said bonds to bear interest at the rate
OF percent. per annum, as evidenced by
coupons attached to said bonds, matur-
ing on the first day of April and on the
first day of October of each and every
year and the principal of said bonds be-
coming due and payable at the expira-
tsn,i A tt,rf, t1,, lut., ~ |
their issue. Each of said bonds shall
distinctly bear on its face certificate of
the Treasurer of the City Of Ashevillc,
that he has received at least its par
value, before its issue, and the funds
arising from the sale OF said bonds shall
be appropriated strictly to the payment
of the debt OF the School Committee and
to the payment Of the debt OF this city
which is above referred to and to no
other purpose whatever.
BE it Further Ordained that at anelec-
tion to be held in the several wards OF
this CITY on Monday. the 7th day of
May, 1894, the Judges OF said election be
instructed to prepare boxes in which
shall be deposited the ballots of such OF
the qualified voters as desire to vote on
the above proposition. Upor each of
said ballots shall be distinctly printed or
written either the word "Approved' or
the word "Disapproved," and each quail
fled voter who desires to express his con.
sent to the above proposition shall vote
a ballot containing the word "Ap-
proved" and each qualified voter who
desires to express his unwillngness o
consent to the above proposition shall
vote ballot containing the word Dis