Daily press. [volume] (Newport News, Va.) 1896-current, 1898-05-27
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Representative OF Isadaiph r,syap..e 4
---- Go. IN the NiiY

| $"%V S9ea0 oo@ $8G@ Or
Representative OF Eaduiu. M,ssnu..e a
Co.. IN the Oily.
| all. that Rudolph Kleybolte Co 81
! New York and Cincinnati, NAV take
| 900.
Mr.. Alexander Kleybolte, the New
In the city TUESDAY night and con.
| terred with Commemorative Attorney
| j. X. NJ. Newton and City Clerk ].
Massle In reference to the issue Of
BONDS and the contract which was
| Council.
| Mr.: kleybolte's real object in visit
Ing Newport News at this time was
to recover the check for $4,000. which
| was deposited with City Treasurer J.
M: Curtis as an evidence OF good
| faith. The Cincinnati house has wrir-
ten Clerk Massie several times since
| It's refusal to take the bonds on the
ground that the issue was illegal, ask
| ing that the check be returned Mr..
Massie replied each time to the effect
| That ne could not return the check UNI
~ authorized to do SO by the Council,
which would not meet again until
! June Z.
Mr.. kleybolte made a statement that
ne had submitted the question of this
bond issue to three attorneys since the
| award and in each case the opinion
was that the issue was not legal, ow-
| ing to its direct conf1iction with sec
ton iO1 of the city's charter. provid-
ing that an election must be held in
order to determine whether or not there
| shall be a bond issue.
Because no election had been held,
| argued Mr.. Kleybolte's attorneys, there
would be some question about the va
| lidity Of the bonds and for that reason
ara tn t.,ty Z ,,s.,1r
Section 101 of the city charter reads
| as follows:
The Council may. by three fourths
vote or all its members. in the name
ana Tor the use OF the said city. cause
to be issued certificates of debt or
bonds the form of which shall be pre-
scrihed by the CounciD not exceeding
In the aggregate the amount of one
hundred thousand dollars. and bearing
a rate of interest not exceeding six
per centum per annum, and payable,
| in the discretion of the Council, in not
less than ten nor more than thirty
years from their date, for the purpose
OF paying any necessary deficit in the
administration of the government of
said city during the first year of it's
operation under this charter, and Of
making any manner of public improve
mentS: provided that no such certiti-
| Gates of debt or bonds to the amount
! issued or be valid unless and until the
ON shall have been first submitted to
n vote Of the legal voters OF the city
and ratified and approved by two
thirds majority of the legal votes of
said city. cast at an election to be
held for the purpose Of voting on the
issue thereof. and unless and until it
shall also appear that three-tifths
majority Of the registered freehold
voters Of the said city have voted at
the said election in favor of the issue
!t,f Z he. n Acc fac Of 1nh
bonds. Said election shall not be held
until notice OF the time. place and
object thereof shall have been first
given by Il publication for at least
thirty days in the daily newspapers
published in the said city. and by post
ing on the front door OF the courthouse
Of said city: or il there be no daily
newspaper published in the said city.
at the time said election is ordered
the Council may determine the manner
of giving such notice The said cleo
ton shall be ordered by the said Coun-
Gil. shall be by viva voce vote. and
none but registered voters, otherwise
legally qualified to vote under the laws
of Virginia, shall be permitted to vote
at said election. And the said Council
debtedness which has not been provid-
ed for III the annual levy"
Mr.. Newton and Mr.. Massie both ex-
planned to Mr.. Kleybolte that the issue
OIL DOnGS 10 tle amount Oh Sl4UUUU was
authorized by the State Legislature to
be made in addition to the issue pro-
vided for in section 1O1 Of the charter,
hence there could be no question about
its legality. m.
The best legal advice in this city
and section has been obtained on this
very question, and all lawyers and
| bankers who have considered the mat
ter agree that the issue will be legal
Mr.. kleybolte stated that he would
be in a position in few days to make
TO commemorative Attorney New
ton a proposition which ii acted
upon will finally decide the au-s
| tion Of legality. He also said that
since receiving the award from the
! Council he had been approached on
| three different occasions by entirely
different parties with tenders for the
purchase OF the bonds.
The firm was awarded Alexandria
bonds to the amount of $4,000, but re-
fused to take them afterwards on
! the same ground, but Mr.. Kleybolte
stated he had since given his
check for the amount and had received
the bonds. their legality having been
thoroughly established.
| Mr.. Alexander Kleybolte impressed
| the city officials as being a Straightfor-
| forward man and they are inclined to
the belief that an arrangement may
| be satisfactorily made by which his
| Arm will accept the bonds and pay
over the $4,000 which is at present
greatly needed by the city for public
| improvements.
| All preparations have been made for
| the construction of sewerage system
at a cost Of $4,000 and school buildings
at a cost Of $40.000 but the city cannot
go ahead with the WORK without funds.
| 1t is confidently believed, however,
that the time Is not distant when work
| on these much needed public improve
| ments will be commenced.
| . Activity In Peanut Circles.