The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1901-07-14
NOTICE OF BOND ELECTION.

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 qualified 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 can 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. /. 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 !mCrove-
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
ton as the Board of Aldermen may deem
advisable, bearing interest from the date
thereof at rate not exceeding five per
centum per annum, with interest coupons
J 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
accEuing 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-four 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. Sc
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
| whose duty it shall be under such general
| rules and regulations as said Board oil
| Aldermen shall from time to time pre-
| scribe, to make investn ents of SO much
| of the 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 clectior
the City OF Raleigh is divided into foul
wards or voting precincts, the boundarie.
| of which are as follows:
The area included between the centres