1958 ORDINANCES - Laserfiche WebLink

Home Browse Search

BE CERTIFIED BY THE FACSIMILE SIGNATURE OF THE TREASURER; (5) THAT SAID BONDS AND THE INTEREST THEREON SHALL BE PAYABLE AT THE OFFICE OF THE TREASURER OF THE • CITY OF CHARLOTTESVILLE; (6) THAT IT IS DETERMINED THAT THE CITY OF CHARLOTTESVILLE WILL DERIVE A REVENUE FROM THE PROPOSED UNDERTAKING AND THAT SAID BONDS WILL BE ISSUED PURSUANT TO THE PROVISIONS OF SECTION 127 (B) OF THE CONSTITUTION OF VIRGINIA AND WILL NOT BE INCLUDED WITHIN THE OTHERWISE AUTHORIZED INDEBTEDNESS OF THE CITY OF CHARLOTTESVILLE PROVIDED HOWEVER., THAT FROM AND AFTER A PERIOD NOT EXCEEDING FIVE (5) YEARS FROM THE DATE OF THE ELECTION AUTHORIZING THE ISSUANCE OF SAID BONDS; WHENEVER AND FOR SO LONG AS SUCH UNDERTAKING FAILS TO PRODUCE SUFFICIENT REVENUE TO PAY FOR COST OF OPERATION AND ADMINISTRATION (INCLUDING INTEREST ON BONDS ISSUED THEREFOR) AND THE COST OF INSURANCE AGAINST LOSS BY INJURY TO PERSONS OR PROPERTY AND AN ANNUAL AMOUNT TO BE COVERED INTO A SINKING FUND SUFFICIENT TO PAYS AT OR BEFORE MATURITY; ALL THE BONDS ISSUED ON ACCOUNT OF SUCH UNDERTAKING, ALL SUCH BONDS OUTSTANDING SHALL BE INCLUDED IN DETERMINING THE LIMITATION OF THE POWER OF THE CITY OF CHARLOTTESVILLE TO INCUR INDEBTEDNESS. THE FULL FAITH AND CREDIT OF THE CITY SHALL SE PLEDGED TO SECURE THE PAYMENT OF THE PRINCIPAL AND INTEREST ON SAID BONDS • AND AN AD VALOREM TAX SHALL BE LEVIED ON ALL THE TAXABLE PROPERTY OF SAID CITY WITHOUT LIMITATION OF RATE OR AMOUNTS FOR THE PAYMENT OF THE PRINCIPAL AND INTEREST THEREOF, IN THE EVENT THE REVENUE FROM SUCH UNDERTAKING IS INSUFFICIENT THEREFOR; 7) THAT AFTER THIS BOND ISSUE -HAS BEEN AUTHORIZED BY VOTE OF THE PEOPLE, THE FINANCE COMMITTEE OF 110 Ln THE COUNCIL SHALL PREPARE AND DISPOSE OF THE ISSUE IN ITS ENTIRETY AT ONE SALE OR IN SUCH INSTALLMENTS N (.� AS MAY BE DEEMED ADVISABLE BY SAID COMMITTEE; HOWEVER ANY SALE OF SAID BONDS SHALL BE RATIFIED AND �Q APPROVED BY THE COUNCIL; (8) THAT IT IS HEREBY ORDERED THAT AN ELECTION BE HELD ON THE 18TH DAY OF MARCH; 1958, AT WHICH QUALIFIED VOTERS MAY VOTE FOR OR AGAINST SANCTIONING THE SAID ISSUE OF FIVE HUNDRED THOUSAND DOLLARS (V4'500,000.00) OF BONDS THAT IS TO SAY: FOR BOND ISSUE" AGAINST BOND ISSUE" THE MARKING AND COUNTING OF THE BALLOTS FOR SAID ELECTION SHALL BE IN ACCORDANCE WITH SECTION 24-141, CODE OF VIRGINIA, AND SAID ELECTION SHALL BE HELD IN ACCORDANCE WITH SECTION 27 OF THE CHARTER OF THE CITY OF CHARLOTTESVILLE AND THE LAWS OF THE STATE OF' VIRGINIA REGARDING ELECTIONS BY THE PEOPLE; (9) THE TREASURER SHALL PREPARE SUFFICIENT CERTIFIED COPIES OF A LIST OF THE QUALIFIED TAXPAYERS IN THE CITY OF CHARLOTTESVILLE WHO PAY A TAX ON REAL OR PERSONAL PROPERTY ASSESSED AT FIVE HUNDRED DOLLARS ($500.00) OR MORES AND THE SAID COPIES SHALL BE DELIVERED TO THE ELECTION OFFICIALS IN THE SAME MANNER AND NUMBER AS POLL TAX LISTS ARE NOW FURNISHED; SAID ELECTION OFFICIALS IN EACH VOTING PRECINCT SHALL PROVIDES AT THE EXPENSE OF THE CITY TWO • (2) BALLOT BOXES, ONE TO BE USED FOR THE PURPOSE OF ENABLING THOSE HAVING THE AFORESAID PROPERTY QUALIFICATIONS TO CAST THEIR BALLOTS THEREIN., AND THE OTHER TO BE USED FOR THE PURPOSE OF ENABLING THOSE WHO DO NOT HAVE THE ABOVE PROPERTY QUALIFICATIONS TO CAST THEIR. BALLOTS; THE ELECTION OFFICIALS SHALL COU14T SAID BALLOTS AND CERTIFY AS PROVIDED FOR IN SECTION 27 OF SAID CHARTER AND THE LAWS OF THE STATE OF VIRGINIA., WHETHER OR NOT A MAJORITY OF THE VOTES CAST BY ALL THOSE VOTING AT SAID ELECTION IS IN THE AFFIRMATIVE; AND WHETHER OR NOT A MAJORITY OF THE VOTES OF THOSE PERSONS WHO PAY A TAX ON REAL OR PERSONAL PROPERTY ASSESSED AT FIVE HUNDRED DOLLARS ($500.00) OR MORE IS IN THE AFFIRMATIVE., AND THE NUMBER OF VOTES CAST FOR AND AGAINST IN EACH INSTANCE; (10) THAT THE CLERK OF THE COUNCIL SHALL PRESENT A CERTIFIED COPY OF THIS ORDINANCE TO THE CORPORATION COURT OF THE CITY OF CHARLOTTESVILLE WHICH COURT SHALL PURSUANT TO THE PROVISIONS OF SECTION 15-596 OF THE CODE OF VIRGINIAS ENTER AN ORDER DIRECTING THE PROPER ELECTION OFFICERS TO TAKE SUCH STEPS AND PREPARE SUCH MEANS AS MAY BE NECESSARY TO SUBMIT TO THE QUALIFIED VOTERS OF THE CITY OF • CHARLOTTESVILLE AT A SPECIAL ELECTION ON MARCH 18, 1958; THE QUESTION OF WHETHER SUCH BONDS SHALL BE ISSUED AND THERE SHALL BE PRESCRIBED IN SUCH ORDER SJCH PROVISIONS AS SAID CORPORATION COURT MAY DEEM