The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1901-05-28
NOTICE OF BOND ELECTION.

NUlGE Ut BURD ELEGIlUh.
Pursuant to an ordinance duly passed
by the Board of Aldermen of the City of
Raleigh at their meeting on the night
of May 18th, 1901, notice is hereby given
Board of Aldermen to be held on July
Sth, 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 One
Hundred Thousand Dollars of Bonds for
public improvements as authorized by an
Act Of the General Assembly Q. North
Carolina, ratified on the 18th 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 l and of said Act being
as follows:
Sec. /. That for the purpose of paw
ing, matchmaking and otherwise improv-
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
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.
ten 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-
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 levying other city taxes, levy
and lay a 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 ($100) assessed valuation
on property, and not less than eighteen
nor more than twenty cents on each
taxable poll The taxes provided for in
this section shall be collected in the man
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 the 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,
i
rules and regula lions 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
of said bonds issued under this |
act and to do or perform all such other
services in connection with said bonds |
~ oas.,
and such Commissioner shall give bond I
and receive such compensation for his |
said services as said Beard 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 Hillsboro street and Halifax street
and the extensions thereof, to the centre
Of Union Square, on the South and East,
and the exterior boundaries
IF said city on The North and West, con
stitute the FIRST WARD or voting pre-
,mct
The area included between the centres
IF Halifax street and Newbern Avenue
md the extensions thereof to the centre
If Union Square on the West and South
'cspectively, and exterior boundaries of
said city on the North and East consti-
ute the SECOND WARD, or voting pre-
met
The area included between the centres
# Newbern Avenue and Fayetteville
treet and the extensions thereof. to the
ontre Of Union Square on the North AMI
Vest respectively. and the exterior boun-
arioe of said Cit - East and South
onstitute the THIRD WARD. or vot-
ng precinct
The area included between Fayetteville
rect and Hillsboro street and the ex-