The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1901-06-25
W. H. King Drug Company
NOTICE or BOND ELECTION.

NUllGE UF BUMD ELtGflUN.
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
10th, 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 issuance of
Fifty Thousand Dollars Of Bonds for
public improvements as authorized by an
Act of the General Assembly O. North
Carolina, ratified on the 7th day OF March,
1901, entitled IAN Act to authorize the
City OF Raleigh to Issue Bonds for Pub
lie improvements and to Levy a Special
Tax" Section / and of said Act being
as follows:
Sec /. That for The purpose of pow
ing. macadamizng aud otherwise impVov-
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 'E'Irove-
may determine to make, the City of Raj
eigh is hereby authorized and empowered
to issue its bonds to an amount not ex-
ceeding One Hundred Thousand Dollars,
of such denomination and in such proper
tinn as the Board of Aldermen may deem
advisable, bearing interest from the date
thereof at a rate not exceeding FIVE per
centum per annum, 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 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-
vlding for the payment of the interest
accrung 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 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 and levy
taxes for any purpose whatsoever, said
particular tax to be not less than six
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 -fouI cents on each
taxable poll The taxes provided for in
this section shall be collected in the man
ner and at the times other city taxes
are collected, and shall be accounted for
and kept separate from other city taxes
and shall be applied exclusively to the
purpose for which they are collected. So
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 thee said
bonds; and to insure the due investment
of the amount 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 1t shall be under such general
rules and regulations as said Board OF
Aldermen shall from time to time pre-
scribe, to make investments of so much
of tho taxes collected and turned over
to him as aforesaid as shall be appli-
cable as aforesaid to the payment Of the
principal of said bonds issued under this
act and to do or perform all such other
services in connection with said bonds
as said Board of Aldermen may prescribe
and such Commissioner shall give bond
and receive such compensation for his
said services as said Board Of Aldermen
may determine"
That for the purposes Of said election
the City of Raleigh is divided into -four
wards or voting precincts, the boundaries
of which are as follows:
The area included between the centres
OF Tillsboro street and Halifax street
and the extensions thereof, to the centre
of Union Square. on the South and East
respectively, and the exterior boundaries
of said city on the North and West, con-
stitute the FIRST WARD or voting pre-
cinct.
The area included between the centres
of Halifax street and Newbern Avenue
and the extensions thereof to the centre
of Union Square ON the West and south
respectively. and exterior boundaries Of
said city on the North and East consti-
tute the SECOND WARD. or voting pre-
cinct.
The area included between the centres
Of Newbern Avenue and Fayetteville
street and the extensions thereof, to the
centre of Union Iuare. on the North and
West respectively. and the exterior boun-
dari~r of sod q =" Cast ana south
constitute the THIRD WARD or vot-
ing precinct
The area included between Fayetteville