The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-06-01
NOTICE OF ELECTION.

Under and by virtue of resolution OF
the Board of Aldermen of the city 81
Raleigh passed April 18th, 1899, in pur-
suance of the authority given in an act
of the General Assembly of North Caro-
lima of 1899, ratified February 2Sth,
1899, entitled: IAN Act to authorize
the city of Raleigh to issue bonds for
public improvements and to levy
special tax" notice is hereby given that
a special election will be held at the
various polling places hereinafter named
on the 18th day of June, 1890, for the
purpose of obtaining the consent of a
majority of the qualified voters of said
city to the issuance of the bonds provid-
ed for in Sections l and of said Act,
as follows;
Section /. That for the purpose Of
paving, matchmaking and otherwise
improving such of the public streets Of
the City of Raleigh as the Board of
Aldermen of said city may determine to
improve, and for making such other pub
lie improvements as the said board of
aldermen may determine to make, the
city of Raleigh is hereby authorized and
empowered to issue it's bonds to an
amount not exceeding one hundred thou
sand dollars, of such denominations and
in such proportions as the Board OF
Aldermen may deem advisable, bearing
interest from the date thereof at rate
not exceeding five per centum per an
mum. with interest coupons attached,
payable half yearly, at such times and at
such place or places as may be deemed
advisable by said Board of Aldermen;
said bonds to be of such form and tenor
and transferable in such way, and the
pripni )al thereof payable or redeema-
bic at such time or times, not exceeding
thirty years from the date thereof, and
at such place or places as the Board of
Aldermen may determine.
Section B. That for the purpose Of
providing for the payment of the inter
est accruing on and the principal at ma
turity of the bonds issued under au.
thority of this act the Board of Alder
men of said city shall annually, and at
the time of levying other city taxes,
levy and lay particular tax on all
persons, and subjects of taxation on
which the said Board of Aldermen now
are or may hereafter be authorized to
lay anu leNl JdAeS lOE any pulpooS nhoI-
soever, said particular tax to be not
less than six or more than eight cents
on the one hundred dollars assessed val
uation on property, and not less than
eighteen nor more than twenty-five
cents on each taxable poll. The taxes
provided for in this section shall be col
lected and shall be accounted for and
kept separate from other city taxes, and
shall be applied exclusively to the pur-
poses for which they are collected. 80
much of said taxes as may be required
to pay the interest on the bonds issued
by authority of this act, as it falls due,
and cannot be applied to the purchase
or discharge of the bonds for which said
taxes are levied and collected, shall be
invested so as to secure the payment at
maturity of the principal of the said
bonds and to insure the due investment
of the amounts collected from year to
year in excess of that required to pay
the said interest the Board of Alder
men shall cause the said excess to be
turned over to the commissioner of the
sinking fund of the city of Raleigh,
whose duty it shall be, under such gem
eral rules and regulations as said Board
of Aldermen shall from time to time pre-
scribe, to make, investments of SO much
of the taxes collected and turned over