The French Broad hustler. [volume] (Hendersonville, N.C.) 1896-1912, 1907-10-10
D E~oRELECIIoM
,uee OF tie Board Of Commissioners,

Ma SO44O ~ ~
At a meeting duly, legally aud regu-
larly called and held by the Board of
Commissioners of Henderson county, in
tho court house, in said county on the
Sun daY6f Sept.s 1907, l5 being made TO
appear to the said board that q great
nnEhher of the citizens of said county
have subscribed to b capital stock of
the Appalachian Interurban Railroad
COMPANY. and hAYa-beensenGaged-i in an
effort to build q railroad through Hen
lderson countys from an Eastern or south
ern connection where satisfactory traf-
fc arrangements can be secured for
said road, in q way byswhich said rail-
road will be independent in it's opera
tions, thereby securing the best rates
| that competition willInake Tor our peo-
pie, said railroad TO becopstructed from
said eastern or southern terminus via
Bat Cage and H~enderspnEille, and thro'
Mills RiverStownshipto the Buncombe
county line. w0&ghsM {
And whereas, The best interest and
prosperity of Henderson county depends
greatly upon the construction OF said
railroad, t~srscu8x ~
And, whereas, The construction of
said railr6adswil bring directly into the
county, taxable property OF approximate
Iy one-half million dollars, to say moth
Hing of The taxable property that viii
H0wintO said county by reason OF said
rA ard. whereas The wisest financial
policy for the county will be subserved
by extending to4the construction of said
railroad material aid by said county,
And, whereas, The subscription here
'inbeloW mentioned is necessary to aid in
1.-THE construction. of, said railroad, in
which the citizens of the county have an
interest,
Therefore, it is Ordered by the Board,
That the question of subscription to the
capital stock of said company In the sum
LOT FIFTY THOUSAND DOLLARS
(which amount this Board proposes to
fsubscribe) to be paid in county bonds to
mature in not less than thirty yea re-,
with 5 per cent interest coupons attach
led, payable semi=Rpnually at the place
provided for in said bonds. the interest
on said bonds and the bonds themselves
ut maturity to be paid by. taxation as
Iproxided by law, shall be submitted TO
the qualified voters of said county as
provided by charter of said company
land Chapter 81, Vol. /, of the Revisal OF
1905 of North Carolina, on 18th day of
October, 1907, which election is hereby
ordered for the purpose of voting for or
against the proposition to subscribe the
said amount of stock agreed upon by
the Board of County Commissioners, and
at which election the said voters shall
vote a ticket as follows: Those favoring
the subscription shall vote a ticket upon
which shall be written or printed,
"AYE, for Subscription, " and those OPP
posed shall vote . ticket-which shall be
scription," and If the majority of the
voters Of said county shall votefor sub
scription, then the, Board of County
Commissioners, throughtheir chairman,
shall subscribe TO the capital stock OF
said company the sum of FIFTY
THOUSAND DOLLARSto be paid IN
tbonds as specified above, which said
bonds shall only. be- issued upon the con
lditions followinge viz: The said bonds
shall not be issued and delivered to said
company or to any. q else until after
! said company or its assigns shall have
! completed1aDd put in operation q stand
ard gauge railroad in compliance with
J CONSTRUCTION contract submitted for in
! spection of the Board at this date, from
: the eastern or southern connection with
a competing railroad via Bat Cave to
/ Hendersonville, and that q regular
schedule of train service for freight
and passengers be in operation as evil
1 denced by tbs publication OF a schedule
in newspaper published in Hender-
Isonville, and.
Provided, That the chief engineer oil
the railroad company shall have at that
time in reserve the securities provided
In said construction contract to secure
1.-The completion of the railroad through
Mills River township to the Runcem5G
county line, o Wit: Subscriptions tC
capital sGOGk and FIRST mortgage bonds
together, eqaaling: In value 600 pat
value for every $1.0O of estimated corr
Of the work remaining to be done a
Provided further, That When said con.
ditions have been. complied with, ther
the said Board of Commissioners shall
issue and pay to the said company the
said county bonds in exchange for the
same amount of the capital stock of the
said Appalachian Interurban Railroad
Company at par, under the following
terms and 4co1ditions:y u.
That the said, railroad company shall
have issued atithat time first mortgage
5 per cent. thirty year gold bonds ofth,
Denomination of 81. 0Oo.9O each, of tn
railroad company, at the rate of Tween
ltY Thousand Dollars per miles sue
bonds to be secured, by q first mortgag,
{ on all the existing and after acquires
Z Il REOHOSgJ VI. 4C E6llEOpO VW1ICI
mortgage 10 to ecure not only sal
bonds but maEralso provide for a furths
{ Issue on such bonds &t a rate not to ex
l6oed1EiYe thousand Dollars, principt
amount Per mile of said railroad; but /
i that event such additional bonds are t
be retained In the treasury. of the rail
to&dicofnpany to be issued only as foi
!. loWsGtO-wit:3c s,a r,sus, rtts,f -
III Twenty-Five Hundred Dollars per mil
of such additional issue for the acqnisi
! ton by the railroad company of stoc
issued In exchange for Subscriptions i
: public. aid bonds, ratably,up o the basi
s of the total subscriptions made by Hen
z derson and. Buncombe countless and an
I city or toNnshipthereip, provided sue
& acquisition be lawful, and the remain
81 ing twenty-fve hundred dollars pc
5 mile Of such additional bonds to be use
8 only TO secure money for the paymen
of interest upon other bonds of said is