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237
<br />5. That any or all construction to be effected through the proceeds of a bond
<br />issue may be by contract.
<br />6. That it shall be duty of the Advisory Board to sew that the plans and
<br />specifications approved by the Alderman and Council are carried out, to confer
<br />frequently with the engineer in charge, to do everything necessary to safeguard
<br />the public interest, and to repopt to the Councils monthly ur oftener as may best
<br />serve the interest of the city,
<br />7. , That nothing in this ordinance shall 'be construed to delegate to the said
<br />Advisory Board any ministerial or other powers except those expressly net forth,
<br />and that in any case of delay or neglect or other occasion for dissatisfaction with
<br />the functioning of the Board the Councils, in separate session, shall act forthwith
<br />to protect the public interest.
<br />Adopted by the Common Council April 5,1920,
<br />Ayes: Elliott, Forrest, Gleason, uuyett, Long,
<br />Smith, Twyman and Via,
<br />rine s= % bige 12gaud at , d em"s AUP� 7 9 1 9ifl�
<br />AUPW
<br />7] F
<br />Ar,
<br />Spread in error. Amended and readopted
<br />y both bodies April 9th,1920.
<br />Clerk. -
<br />Bond Issue An Ordinance referring to a vote of the City's electorate the question of issuing
<br />Ordinance.
<br />953,000 bonds to extend and improve the water supply and other utilities.
<br />WHEREAS it is deemed to be necessary and expedient and to the advantage of the
<br />city that the city should negotiate a loan to extend and improve its revenue produa-
<br />ing utilities --to exit:
<br />$2009000 to augment and improve tre city's water supply,
<br />50,000 to extend tr a Mer system, and
<br />35_,000 to extend and equip tre gas plant;
<br />1285,"total
<br />rTEREAS it is deemed to be expedient and to the advantage and benefit of the
<br />city that the city should include in said loan the additional sums following and for
<br />the following purposes -- to wit;
<br />25,000 to bond existing floating debt,
<br />480,000 to construct concrete streets, estimated mileage 14,and sand -clay streets,
<br />estimated mileage 7.
<br />125,000 to erect a government building, and purchase a site therefor, if necessary,
<br />20,000 to extHnd and improve the facilities of the Fire riepartment, and
<br />_189000 to remodel the armory;
<br />16689666 total.
<br />And whereas the sum of $668,000 added to the debt of the city now existing
<br />will not .reach the constitutional limit to the authority to issue bonds not exceeding
<br />eightsen per centum of the assessed valuation of the real estate of the city subject
<br />to taxation as shown by the last assessment for taxes, therefore
<br />Be it ordained by the Common Council, tbc: Board of Aldermen concurring:
<br />1. That the city negotiate a loan not exceeding $953,000 for the purposes aforesaid
<br />and issue coupon bonds therefor. Such bonds shall bekknown as Charlottesville
<br />Improvement Bonds, small be payable to bearer in forty years after date, each bond
<br />to contain the option on the part of th.e city to pay the principal t"^ereof at the
<br />expiration of twenty years from its date, and at any time thereafter upon one
<br />month's notice published once a week for two weeks in a newspaper published in
<br />Charlottesville and in a newspaper published in New York City, which notice shall set
<br />number or
<br />forth the serial numbers of the bond or bonds to be paid and the time when payment
<br />71,
<br />is to be made, that the bonds shall bear interest at the rate of 5 per cent per annum,
<br />
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