French Broad hustler. [volume] (Hendersonville, N.C.) 1916-1919, 1919-02-06
NOTICE OF ELECTION
AND BOND ISSUE.

of Public Park for the City of Hen
| Jacksonville, to accommodate the resi-
dents as we'll as the tourists and Visl-
who come to us by the thousands every
every year for rest and recreation, and
whereas, the city now owns no prop
erty suitable for such purpose, and
| whereas, the present owners OF the
! property on North Main street known
as the Noterman property, containing
about six and one quarter acres, are
willing to convey this property to the
city for said purpose at price which
the Commissioners feel should be sub
mitted to the voters for their APPROX
al or rejection, the price being much,
less than the owners would be willing
to accept for the property for any
other purpose:
Now, therefore, be it resolved by the
Board of Commissioners Of the City
of Hendersonville:
Sec. 1 That for the purpose Of pro-
viding money with which to purchase
said property for the purpose Sc,
forth above, that negotiable coupon
bonds Of the City of Hendersonville be
| issued in the sum of not to exceed
the principal amount of 100000 said
bonds to bear interest not to exceed
six per centum per a. num and shall
mature within a max mum period OF
Thirty years, being the shortest pc
riod in which the debt to be evil
denced by said bonds can be finally
paid without making it unduly bur-
densome upon the tax payers of the
municipality. Both principal and in
terest on said bonds to be payable at
some bank in the City of New York,
N. Y, to be determined by the Govern
ing body of said City of Henderson
Vile and to be in such form as the
Governing body, by resolution, may
determine.
Sec. 2. That said bonds are to be
issued entirely for the purpose of pur-
chasing the property above referred
to, to be used and controlled by the
City of Hendersonville as a public
park and for such other purposes as,
by proper authority, from time to time,
may be determined, and shall mature
within Thirty years, the shortest pc
Rod in which the debt evidenced by
said bonds can be finally paid with
out making it unduly burdensome
upon the tax payers of the munich
pality.
Sec. 3. That each year while any
of said bonds shall be outstanding e
tax shall be levied and collected in
accordance with the law sufficient to
pay the principal and interest of said
bonds as the same shall fall due anG
payable.
Sec. 4. That statement of the debt
of the City Of HendersonvilIe has been
filed with the clerk, pursuant to The
Municipal Finance Act of 1917, and is
open to public inspection.
Sec. 5. That the assessed valuation
o. Tie property subject to taxation by
he City Of Hendersonville for the
years 1916, 1917, md 1918, was for the
respective years ,924,292-$1, 977, 1866
-$2,OOO,12O, and that the average as
sessed valuation of the property sub
Ject to taxation by the City of Hen
Jacksonville for the three fiscal years
in which taxes were last levied, being
the years 1916, 1917, 1918, as shown
by said statement referred to in the
foregoing section is $1,967,426
Sec. 6. That the amount of the ne:
debt of the municipality outstanding,
authorized and to be authorized, as
shown by said statement is, $780,
S77.25.
Sec. z. That this ordinance shall
take effect upon it's ratification by the
qualified voters Of the City of Hen
Jacksonville at an election to be called
and held as provided in the following
section.
Sec. 8. That an election is hereby
called to be held at the usual polling
place at the City Hall in the City of
Hendersonville, N. c., on the 18th
day Of February, 1919, at which time
and place the foregoing ordinance
shall be submitted to the qualified vo-
tiers of said city for their approval or
rejection assby law provided.
I propose the adoption of the fore
going resolution, this the 7th day of
January, 1919.
K. G. MORRIS,
Commissioner
Approved: E. w. EWBANK,
City Attorney.