Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1902-03-17
OFFICIAL.

An Lor 10 authorize the City Council Of Alex
apdris to issue its bonds called Street snd
Saver Improvement Bonds, for the purpose
of enabling property owners In said city to
raw assessments against their property for
street and sewer improvements in Ave (6)
instsilments, and to provide for the pay
ment of said bonds.
/. Be 1t enacted by the General Assembly
of Virginia, That wher ever any street or sewer
Improvement shall be ordered By the City
Council OF Alexandria. any part OF the costs
- which ia to be betrayed by local Assess
ments. the several assessments contained 10
sny roll made for the purpose Of raising such
money. shall be divided into i've (6) equsi
in,tallments, the first OF which instsllmenss
shall be due and psysble from and after the
date OF tho confirmation OF said local sssess-
ment, and the remaining installments In one,
two, three and four years from snc after said
date provided tho property owner shall sign
notes for the said second, third, fourth aud
Hfth installments, which notes shall DO pay.
able TO the City Council Of Alexandris, and
shall acknowledge the lien Of the local sssess-
ments, otherwise his entire assessment shall
be due and payable within thirty (30) days
from the date Of tho confirmation thereof;
the second, third, fourth and nth INSTALL
ments shall bear Interest at the rate Of elk
| arm alton OF said local assessments until they
shall have severally become due and payable,
| or until the date that the collection thereof
shall be regularly esforcee
2. That aftor the local assessment roll
shall have been confirmed, the City Council
of Alexandria may authorize the issue OF
bonds to sn amount not exceeding fouI -hfihs
(4,5l Of said assessment roll which bonds
shall be OF such denominations az the City
Council may deem proper and shall be signed
| by the Mayor and City Treasurer and counter
| signed by the Auditor OF the city with the
| corporate sesl Of the city affixed thereto and
| shall bear interest 81 rate not exceeding
| Ave (5) per cent per annum, and shall be
payable one.fourth IL in one year, one-tourth
III in two years, one-fourth III In three years,
and one fourth ~ in four years, from and
| after the hrst day Of the next calendar month
succeeding the confirmation Of said assess.
mept roll.
All warrants drawn In payment OF any
such local work or Improvement as above
specified, exclusive Of she citys portion Of
said work or improvement, shall be payable
four-afts (4.5) out Of the proceeds Of such
fund, and one-ffth (1-5) out Of the moneys
collected upon the frat instslsment OF the
assessment roll made therefor.
II sufficient sum has not been realized
upon the drst installment OF such assessment
roll 10 psy the warrants so drawn against said
| roll. or If Sufficient moneys have not been
realizsd upon any other instsllment to pay
said bonds when the same shall be due and
payable, the City Treasurer may temporarily
borrow, on the credit Of the city, sum ouffi-
Gent TO pay the same, and all moneys there
after realized on account Of said Assessment
70 |, or from GALES for non-payment OF assess
ments thereon, shall be used, and they are
hereby pledged, for the payment OF the
amount so borrowed and for the pay ment OF
| said bonds.
3. That the total amount Of said bonds In
force at any one time shall not exceed the 50 no
Of fifty thousand 80, OOO) dollars, and that
said bonds shall be exempt from any and all
taxation by the said City Council OF Alex
sndris.
4. Be It ordained by the City Council of
Alexandris, that the Clerk Of the Common
Council do forthwith send certified copy OF
this ordinance to Senator 8. 3. Donohoe and
Delegate James z. Cation Of the General As
sembly OF Virginia, aud request the passage
of bill by the General Assembly embodyins
the same.
8. ALI ordinan ces or parts of ordinances IL
conflict with this ordinance are hereby re-
pesled.
6. This ordinance shall be in force from III
passage.
Passed Common Council March IL, 1902
F. PAFF, President.
Passed Board of Aldermen March IL, 1902
Ut. SWEENEY, President
Teste: LUTHER II. THOMPSON, Clerk
Approved March IL, 1902.
GEO. L. SIMPSON, Mayor
Teste DANIEL Z. STANsBURr, Clerk, G. O