1924 ORDINANCES - Laserfiche WebLink

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issue, except eighteen thousand dollars for remodeling armory, was sanctioned and approved by the affirmative vote of a majority of said qualified voters, including a majority of the votes cast by tax payers at such election; and also validates, legalizes and confirms all other proceedings whatsoever of the said City of Char- lottesville, its officials and agents, relating to the said loan and the said bond issue. SEC. 2. And be it further enacted that the mayor, common council and board of Aldermen of the said City are hereby authorized without further sanction or approval by the qualified voters or tax payers of the said City than that given at said election to proceed to issue and sell bonds of saidcity as in said ordinance provided, but not exceeding nine hundred and thirty-five thousand dollars in amount; and that the said bonds when executed and delivered pursuant to law shall be valid And binding obligations of the city of Charlottesville, Virginia. it WHEREAS, in said act and. tho ordinance and election referred to therein it was provided that the $125,000.00 apportioned for the erection of a Government building might be reduced and the sum of the reduction added to the amount apportioned to water supply improvement and, WHEREAS, the proceeds of said $125, 000.00 of bonds is necessary for water supply improvement and, been abandoned, the porposed erection of a government building has NOW THEREFORE, be it ordained by the Council of the City of Charottesville that the $125,000.00 of the $935,000.00 issue of Charlottesville Maturing September 1st, 1962 with interest at 5% payable semi-annually Improvement Bonds dated September lst,1922, which was originally apportioned for the erection of a Government Building, being the bonds of said issue numbered 811 to 935, both inclusive, be designated as water improvement bonds and the entire pro- ceeds therefrom be apportioned to and set aside for water supply improvement. Said bonds niunbered 811 to 935 both inclusive, of said $935, 000.00 issue of Charlottesville Improvement bonds, dated September 1st, 1922, shall be issued under the authority of section 127 of the Constitution of Virginia and Section 3082 of the Code of Virginia of 1919 as amended and said bonds shall not be included in determining the limitations of the power of the City of incurring indebtedness as provided in the first paragraph of section 127 of the Constitution of Virginia be- cause said bonds come within the exception provided in sub -section B of section 127 of the Constitution of Virginia as they have been approved by the affirmative vote of the majority of the qualified voters of the City of Charlottesville voting upon the question of their issuance at an election held on the 8th day of June 1920 and are for the purpose of supplying; water from which the City will derive a revenue sufficient to pay for the costs of operation and administration, of main- taining the water supply including interest on the bonds and the cost of insurance against loss by injury to persons and property and an annual amount to be covered and paid into a sinking fulid sufficient to pay at or before maturity all bonds issued on account of said undertaking including those now outstanding as well as those to be issue as provided herein. The Council of the City of Charlottesville fixes five years from the date of said election, June 8th, 1920 for determing whether or not the revenue from such