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110 Lr1 N � � a r— CLERK PRESID N AN ORDINANCE AUTHORIZING THE ISSUANCE OF BONDS OF THE CITY OF CHARLOTTESVILLE IN THE SUM OF $950,000.00 FOR THE PURPOSE OF THE CONSTRUCTION OF AND ADDITIONS TO SCHOOL BUILDINGS IN SAID CITY. WHEREAS IT IS DEEMED NECESSARY AND EXPEDIENT THAT THE CITY OF CHARLOTTESVILLE SHOULD ISSUE AND NEGOTIATE ITS BONDS IN ORDER THAT THE CITY MAY CONTRIBUTE ITS SHARE OF THE COST OF TWO PROPOSED ELEMENTARY SCHOOLS IN THE CITY AND FOR THE PURPOSE OF ADDITIONS AND IMPROVEMENTS TO LANE HIGH SCHOOL, CLARK ELEMENTARY SCHOOL AND MCGUFFEY ELEMENTARY SCHOOL; AND, WHEREAS IT IS ESTIMATED THAT $6409000.00 WILL BE NEEDED FOR THE CONSTRUCTION OF THE PROPOSED ELEMENTARY SCHOOL ON LONG STREET, $620,000.00 FOR THE CONSTRUCTION OF THE PROPOSED ELEMENTARY SCHOOL ON CHERRY AVENUE, $63,000.00 FOR THE PROPOSED ADDITION TO LANE HIGH SCHOOL, $9,000.00 FOR THE PROPOSED ALTERATIONS TO CLARK ELEMENTARY SCHOOL AND $18,000.00 FOR THE PROPOSED ALTERATIONS TO MCGUFFEY • ELEMENTARY SCHOOL, ALL OF WHICH COSTS AGGREGATE THE SUM OF $1,350,000.00, OF WHICH AMOUNT $4009000.00 WILL BE RECEIVED AS A GRANT FROM THE COMMONWEALTH OF VIRGINIA AGAINST CONSTRUCTION COSTS, THEREBY LEAVING $950,000.00 AS THE AMOUNT NEEDED FOR SUCH PURPOSES; AND, WHEREAS THE AFORESAID SUM OF $950,000.00p WHEN ADDED TO THE EXISTING DEBT OF THE CITY NOW OUTSTANDING WILL NOT EQUAL EIGHTEEN PER CENT (18%) OF THE ASSESSED VALUATION OF REAL ESTATE IN THE CITY OF CHARLOTTESVILLE SUBJECT TO TAXATION AS SHOWN BY THE LAST ASSESSMENT, THAT BEING THE CONSTITUTIONAL LIMIT OF THE AUTHORITY OF SAID CITY TO ISSUE BONDS; NOW THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF CHARLOTTESVILLE$ (1) THAT THE CITY ISSUE AND NEGOTIATE ITS BONDS AGGREGATING $950,000.00 FOR THE PURPOSES AFORESAID DESIGNATED AS "SCHOOL IMPROVEMENT BONDS, SERIES OF 1953"; (2) THAT SAID BONDS SHALL BE NINE HUNDRED AND FIFTY (950) IN NUMBER, NUMBERED 1 TO 950 EACH, ALL DATED NOVEMBER 1, 1953 AND PAYABLE TO BEARER IN SUCH MATURITIES NOT EXCEEDING TWENTY (20) YEARS FROM THE DATE THEREOF AS THE COUNCIL SHALL BY RESOLUTION OR RESOLUTIONS FROM TIME TO TIME DETERMINE; AN ORDINANCE AMENDING AND RE-ENACTING SECTION 10 OF CHAPTER 29 OF THE CHARLOTTESVILLE CITY CODE OF 19459 AS AMENDED, RELATING TO LAYING SIDDNALKS UPON OWNER'S APPLICATION. BE IT ORDAINED BY THE COUNCIL OF THE CITY OF CHARLOTTESVILLE THAT SECTION 10 OF CHAPTER 29 OF THE CHARLOTTESVILLE CITY CODE OF 1945, AS AMENDED, RELATING TO LAYING SIDEWALKS UPON OWNER S APPLICATION IS HEREBY AMENDED AND RE—ENACTED TO READ AS FOLLOWS: SECTION 10 -- "LAYING SIDEWALKS — BY CITY UPON OWNER S APPLICATION". WHENEVER ANY PROPERTY OWNER DESIRES A SIDEWALK OR CURB, OR CURB AND GUTTER TO BE LAID ALONG AN ACCEPTED CITY STREET BOUNDARY OF PROPERTY, HE SHALL MAKE WRITTEN APPLICATION TO THE CITY MANAGER AGREEING TO PAY ONE—HALF OF THE COST OF SUCH CONSTRUCTION AS ESTIMATED BY THE CITY MANAGER AND WAIVING ALL DAMAGES BY REASON OF SUCH CONSTRUCTION. THE CITY MANAGER SHALL HAVE AN ESTIMATE MADE OF THE COST OF SUCH IMPROVEMENT AND THE APPLICANT SHALL PAY ONE—HALF OF THE COST AS SO ESTIMATED AS FOLLOWSt (A) EITHER IN CASH; OR TO THE CITY OF CHARLOTTESVILLE UPON MONTHLY INSTALLMENTS (B) BY HIS PROMISSORY NOTE PAYABLE EXTENDING OVER A PERIOD NOT TO EXCEED SIX MONTHS, INCLUDING FIVE PER CENT INTEREST ON THE PRINCIPAL AMOUNT* UPON RECEIPT OF EITHER THE CASH PAYMENT OR THE APPLICANTS PROMISSORY NOTE, AS HEREIN • PROVIDED, SUCH SIDEWALK, CURB OR CURB AND GUTTER SHALL BE CONSTRUCTED, PROVIDED FUNDS THEREFORE SHALL HAVE BEEN APPROPRIATED. ADOPTED BY THE COUNCIL JUNE 1, 1953 AYES: MR. FORBES, MR. HILL, MR. WEINBERG NOESt NONE 110 Lr1 N � � a r— CLERK PRESID N AN ORDINANCE AUTHORIZING THE ISSUANCE OF BONDS OF THE CITY OF CHARLOTTESVILLE IN THE SUM OF $950,000.00 FOR THE PURPOSE OF THE CONSTRUCTION OF AND ADDITIONS TO SCHOOL BUILDINGS IN SAID CITY. WHEREAS IT IS DEEMED NECESSARY AND EXPEDIENT THAT THE CITY OF CHARLOTTESVILLE SHOULD ISSUE AND NEGOTIATE ITS BONDS IN ORDER THAT THE CITY MAY CONTRIBUTE ITS SHARE OF THE COST OF TWO PROPOSED ELEMENTARY SCHOOLS IN THE CITY AND FOR THE PURPOSE OF ADDITIONS AND IMPROVEMENTS TO LANE HIGH SCHOOL, CLARK ELEMENTARY SCHOOL AND MCGUFFEY ELEMENTARY SCHOOL; AND, WHEREAS IT IS ESTIMATED THAT $6409000.00 WILL BE NEEDED FOR THE CONSTRUCTION OF THE PROPOSED ELEMENTARY SCHOOL ON LONG STREET, $620,000.00 FOR THE CONSTRUCTION OF THE PROPOSED ELEMENTARY SCHOOL ON CHERRY AVENUE, $63,000.00 FOR THE PROPOSED ADDITION TO LANE HIGH SCHOOL, $9,000.00 FOR THE PROPOSED ALTERATIONS TO CLARK ELEMENTARY SCHOOL AND $18,000.00 FOR THE PROPOSED ALTERATIONS TO MCGUFFEY • ELEMENTARY SCHOOL, ALL OF WHICH COSTS AGGREGATE THE SUM OF $1,350,000.00, OF WHICH AMOUNT $4009000.00 WILL BE RECEIVED AS A GRANT FROM THE COMMONWEALTH OF VIRGINIA AGAINST CONSTRUCTION COSTS, THEREBY LEAVING $950,000.00 AS THE AMOUNT NEEDED FOR SUCH PURPOSES; AND, WHEREAS THE AFORESAID SUM OF $950,000.00p WHEN ADDED TO THE EXISTING DEBT OF THE CITY NOW OUTSTANDING WILL NOT EQUAL EIGHTEEN PER CENT (18%) OF THE ASSESSED VALUATION OF REAL ESTATE IN THE CITY OF CHARLOTTESVILLE SUBJECT TO TAXATION AS SHOWN BY THE LAST ASSESSMENT, THAT BEING THE CONSTITUTIONAL LIMIT OF THE AUTHORITY OF SAID CITY TO ISSUE BONDS; NOW THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF CHARLOTTESVILLE$ (1) THAT THE CITY ISSUE AND NEGOTIATE ITS BONDS AGGREGATING $950,000.00 FOR THE PURPOSES AFORESAID DESIGNATED AS "SCHOOL IMPROVEMENT BONDS, SERIES OF 1953"; (2) THAT SAID BONDS SHALL BE NINE HUNDRED AND FIFTY (950) IN NUMBER, NUMBERED 1 TO 950 EACH, ALL DATED NOVEMBER 1, 1953 AND PAYABLE TO BEARER IN SUCH MATURITIES NOT EXCEEDING TWENTY (20) YEARS FROM THE DATE THEREOF AS THE COUNCIL SHALL BY RESOLUTION OR RESOLUTIONS FROM TIME TO TIME DETERMINE;