The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1901-06-23

NOTICE OF BOND ELECTION.

NUlIGE Uf DUNU LIEU Jun.
Pursuant to an ordinance duly passed
by the Board Of Aldermen of the City of
Raleigh at their meeting on the night
of une 14th, 1901, notice is hereby given
that an election has been ordered by the
Board of Aldermen to be held on August
18th, 1901, at the polling places of the
various wards or election districts as
hereinafter described, from eight O'Clock
a. M till sunset, to obtain the consent
of a majority of the qualined voters of
the City of Raleigh to the issuaIce of
Fifty Thousand Dollars of Bonds for
public improvements as authorized by an
Act Of the General Assembly cs North
Carolina, ratified on the 18th day of March,
1901, entitled "An Act to authorize the
City of Raleigh to Issue Bonds for Pub
lie improvements and to Levy Special
Tax Section l and of said Act being
as follows
sec. l. That for the purpose Of paw
ing, macadamiziBg and otherwise imp"ov-
ing 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 public IMPROVE
ments as the said Board of Aldermen
may determine TO make, the City of Raj
eieh is hereby authorized and empowered
to issue its bonds to an amount not ex-
ceedng One Hundred Thousand Dollars
of such denomination and in such proper
tiGn as the Board of Aldermen may deem
advisable, bearing interest from the date
thereof at rate not exceeding five per
eentum per annum, with interest coupons
| attached, payable half yearly, at such
| ,,Ia ma "
| be deemed advisable by said Board OF
| Aldermen, said bonds to be of such form
! and tenor. and transferable in such way,
and the principal thereof payable to re-
| deemable at such time or times not ex-
ceeding thirty years from the date there
| of and at such place or places as the
| Board of Aldermen may determine"
''Sec. 5. That for the purpose of pro-
viding for the payment of the interest
accruing on, and the principal at ma
| turity of the bonds issued under author
ity of this Act, the Board of Aldermen OF
said city Shall annually, and at the
! time of levyng 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 and levy
taxes for any purpose whatsoever, said
/ particular tax to be not less than sly
| nor more than eight cents on the One
| Hundred Dollars $1,000 assessed valuation
on property and not less than eighteen
nor more than twenty four cents on eacf
taxable poll The taxes provided for II
this section shall be collected in the man
ner and at the times other city take:
| are collected and shall be accounted fol
| and kent separate from other city taxes
and shall be applied exclusively to the
| purpose for which they are collected. 81
much of said taxes as may be required
i to pay the interest on the bonds issueC
by authority of this act, as 1t falls dp'
and cannot be applied to the purchase
or discharge of the bonds for which sal'
taxes are levied and collected shall d.
invested so as to secure the payment a
maturity of the principal OF the sac
bonds; and to insure the due investmeh
of the amount collected, from year U
! wear in excess of that required 10 pal
the said interest, the Board OF Alder
men shall cause the said excess TO %
turned over to the commissioner OF tn
Sinking Fund of the City OF Raleigh
whose duty il shall be under such genera
rules and regulations as said Board
Aldermen shall from time to time pre-
scribe to make investments OF SO mucl
of tho taxes collected and turned owe
to him as aforesaid as shall be appll
cable as aforesaid to tie payment of tn
principal of said bonds issued under thi
act and to do or perform all such othe
services in connection with said bond
as said Board of Aldermen may prescrib
and such Commissioner shall give bon
and receive such compensation for hi
said services as said Board of Alderme
may determine
That for the purposes OF said electio
the City of Raleigh is divided into fou
wards or voting precincts, the boundarie
Of which arc as follows:
The area included between the centre
of Hillsboro street and Halifax stree
and the extensions thereof, to the centr
of Union Square, on the South and Eas
respectively, and the exterior boundarie
of said city on tho North and West, cor
stitute the FIRST WARD or voting pre-
cinct.
The area included between the centre
NJ Halifax street and Newbern Avenu
and the extensions thereof to the cehtf
Of Union Square on the West and Sout
respectively. and exterior boundaries
said city on the North and East consti
tute the SECOND WARD. or voting pre-
cinct.
The area included between tho centre
Of Newborn Avenue and FayetteVill
street and the extensions thereof, TO IN
centre Of Union Square. on the North an
West respectively, and the exterior hour
darice If said ci. 10 East and Sout
constitute the THIRD WARD, or vo
ing precinct.
The area included between Fayettevil