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<br />III. That the proceeds of this entire issue of said bonds shall be used exclusively
<br />as set forth in the preamble hereto, and the entire proceeds of the sale of $6339,735.00
<br />(Three Hundred Thirty Nine Thousand, Seven Hundred and Thirty Five Dollars) of said
<br />bonds shall at once be subject to the call of the School Board as needed and shall be
<br />paid upon proper warrant drawn by the said School Board upon the Treasurer of the City
<br />of Charlottesville.
<br />IV. That said bonds and their coupons shall be payable at the office of the
<br />Treasurer of the City of Charlottesville, Virginia.
<br />V. That after this bond issue has been authorized by vote of the people, the
<br />finance committee of the Council shall prepare and dispose of the issue in its entirety
<br />at one sale or in such installments as may be deemed advisable by said Committee. Any
<br />sale of said bonds shall be ratified and approved by the Council.
<br />VI. That it is hereby ordered that an election be held on the 20th day of
<br />September, 1935, at which qualified voters may vote for or against sanctioning the said
<br />issue of !339,735.00 (Three Hundred Thirty Nine Thousand, Seven Hundred and Thirty Five
<br />Dollars) of School Improvement Bonds, Series of 1938, that is to say:
<br />" For Bond Issue"
<br />f1 Against Bond Issue"
<br />The marking and counting of the ballots for said election shall be in
<br />accordance with Chapter 396 of the 1935 Acts of the Assembly of Virginia and Section
<br />162 of the Code of Virginia (Michie). Said election shall be held in accordance with
<br />Section 24 of the Charter of the City of Charlottesville and the laws of the State of
<br />Virginia regarding elections by the people,
<br />VII. The Treasurer shall prepare sufficient certified copies of a list of the tax-
<br />payers in the City of Charlottesville who pay a tax on real or personal property of
<br />$250.00 or more and the said copies shall be delivered to the election officials in the
<br />same manner and number as poll tax lists are now furnished.
<br />Said election officials in each voting precinct shall provide, at the expense
<br />of the City, two ballot boxes, one to be used for the purpose of enabling.those having
<br />the aforesaid property qualifications to cast their ballot therein, and the other to
<br />be used for the purpose of enabling those who do not have the above mentioned property
<br />qualifications to cast their ballot therein.
<br />The election officials shall count said ballots and certify as provided for
<br />by Section 24 of said charter and laws of the State of Virginia, whether or not a
<br />majority of the votes cast by those taxpayers of the City at said election is in the
<br />affirmative, and whether or not a majority of those persons who pay a tax on real or
<br />personal property assessed at $250.00 or more is in the affirmative, and the number of
<br />votes cast for and against in each instance.
<br />VIII. That the Mayor of said City be and he is hereby authorized and directed to
<br />give the required notice by publishing a copy of this notice and ordinance in a news-
<br />paper published in the City of Charlottesville for four successive weeks of the holding
<br />of said election, and record said notice in the book kept for that purpose in accordance
<br />with the provisions of Section 24 of said City Charter.
<br />Adopted by the Council
<br />Ayes: Mr. Gleason, Dr.
<br />and Mr. Jessup.
<br />Moes: None.
<br />August 19, 1938
<br />Haden, Mr. Huff,
<br />President
<br />AN ORDINANCE AUTHORIZING THE'ISSUANCE OF THREE
<br />HUNDRED THIRTY NINE THOUSAND, SEVEN HUNDRED AND THIRTY FIVE
<br />DOLLARS ($339,735) OF BONDS OF THE CITY OF CH.KRLOTTESVILLE,
<br />TO BE KNOV,11 AS "SCHOOL IMPROVEMENT BONDS, SERIES OF 1938".
<br />WHEREAS, the issuance of Three Hundred Thirty Nine Thousand, Seven Hundred and
<br />Thirty Five Dollars ($339,735.00) of serial bonds of the City of Charlottesville, to
<br />'
<br />be known as "School Improvement Bonds, Series of 193811, has been approved by an
<br />ordinance adopted by the Council of the City of Charlottesville, Virginia, on August
<br />19th, 1938, and spread in Ordinance Book 2, p. 204-5, and approved by the voters of
<br />the City at a special election held for that purpose on September 20th, 1938, in
<br />accordance with the Charter of the City of Charlotte:_,ville and the laws of the State
<br />of Virginia.
<br />1,1071 THEZEFORE, BE IT ORDAINED BY THE COUNCIL OF THF, CITY OF CHARLOT=7VILLE:
<br />'
<br />I. That there shall be issued Three Hundred Thirty Nine Thousand, Seven Hundred
<br />Thirty Five Dollars ($339,735) of serial bonds of the City of Charlottesville, to be
<br />mown as "School Improvement Bonds, Series of 1938"; and numbered from one to three
<br />hundred forty inclusive; that they be in denominations of One Thousand Dollars 0,1,000.00)
<br />each except bond No. 1 which shall be in the denomination of Seven Hundred Thirty Five
<br />Dollars ($735.00); that said bonds and interest thereon shall be made.payable at the
<br />office of the City Treasurer in the City of Charlottesville, as follo-ws:
<br />$9,735 of said issue shall mature three years after the date thereof; ;10,000.00 of said
<br />issue shall mature annually four to twelve years after the date thereof; .$12,000.00 of
<br />said issue shall mature annually thirteen to twenty two years after the date thereof;
<br />and $615,000.00 of said issue shall mature annually twenty-three to thirty years after
<br />the date thereof;
<br />All of the said bonds shall bear interest at a rate not exceeding 5% per annum,
<br />payable semi-annually on the first day of June and December in each year according to
<br />the tenor of coupons for semi-annual interest payments to be thereto attached, the exact
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