The Richmond palladium and sun-telegram., 1915-06-05
C|T'Y'S SHARE
(Continued From Page one.1

on South A. Consequently the city
will have more to apply to the relief
Of North A street property owners
than it will have to aid the South A
street people.
This information was conveyed to
questioning councilmen in very hazy
manner last night. City Engineer
Charles was not present, not having
been notified to attend the meeting.
Council must authorize the bond issue
as the contracts for the improvements
have been awarded and several of the
improvements have been made or are
now under headway. Council decided,
however, not to pass the ordinance
under suspension Of rules and only
advanced it to second reading so that
the engineer could appear before coun-
Gil Monday evening and make a detail.
ed explanation.
Costs City $4s,7oo.
City Controller McMahan read d
statement to council giving in detail
the various improvements which the
money realized from the sale of bonds
would be applied to. The total amount
of the city's share of the cost of these
Improvements will be approximately
$48, 200, including all the streets which
have been permanently improved this
year, the expense of a new automobile
ladder truck and several sewer ad-
ditions or extensions. The controller
figured at first that the city's share
Of the cost Of these improvements
would only be SAL, 900 but was remind
ed by President Bavis Of the board
that two obligations incurred last year
would also have to be provided for,
$4,000 for the Morton park sewer and
S1,7OO for the North Twelfth street
sewer.
Mr. Bavis stated today that next
year the city, in authorizing public i'm
provements, would stipulate the per-
centage of the cost the city would
assume, after paying for the paving of
intersections, thus providing a more
equitable relief for property owners.
Provides for $4,000.
1t is provided in Section 1 Of the
ordinance that the city shall borrow
the sum of $4,000 for the purpose Of
paying the city's portion of permanent
street improvements, for an aerial
motor ladder truck for the fire depart
ment, and for the further purpose of
procuring money to be used in the
powers Of the city. and for the pay
ment of it's corporate debts"
In Section 2 it is provided that the
bond issue shall be "in denominations
of $500 each, bearing per cent in
terest per annum, payable semi-an-
nually on the first day of January and
July of each year, and evidenced by a
coupon for each semi-annual install
ment of interest
1t is further provided that: Said
bonds shall be known and designated,
First Series 1915, and shall be num-
bered consecutively from one to one
hundred. inclusive. and those number.
ed from one to twenty. inclusive, shall
become due and payable the first day
Of July, 1917; those numbered from
twenty-one to forty, inclusive, shall be-
| come due and payable on the first day
of July, 1918; those number from
! forty-one to sixty, inclusive, shall be-
come due and payable on the first day
/ of July, 1913; those numbered from
sixty-one to eighty, inclusive, shall be
! come due and payable the first day
of July, 1920: and those numbered
from eighty-one to one hundred shall
become due and payable the first day
Of July. 1920
Said bonds shall be sold for not
less than par by sealed bids for cash,
| and upon payment therefore shall be
be delivered to any such bidder or
bidders"
The ordinance becomes effective on
its passage.