The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1877-01-20
MEWADvERTIsEMENTs
ELECTION NOTICE
To the Qualified Voters Of the
CITY of u heelinS.

To the Qualified voters OF the
City Of " heeling.
WHERKAs, The Council of the City OF
Wheeling did, on the 5th day Of January
1877, adopt an ordinance In words and
figures as follows, that 10 to say:
An ORDINANCE TO provide for the issue and
sale of bonds by the City of Wheeling,
And for the payment and redemption
thereof: ar
SEC. /. Be Il Ordained by the Council o,
the Cfty OF Wheeling: That for the purpose
of providing means for the payment or the
outstanding and unpaid city orders, and
the payment OF the oyercheck OF the Re-
change Bank of Wheeling, the Mayor
AID Clerk OF the City Of Wheeling be and
they are hereby authorized and directed
to make, and on the LIST day OF March, A.
H., 1877, or as soon thereafter as practical
BILE, deliver TO the commissioners herein
after appointed the bonds of said city, in
sums Of 500 each, TO the amount OF One
Hundred and Twenty Thousand Dollars,
payable on or before the LIST day Of March,
A. D., 1907, at the Exchange Bank OF
Wheeling, In the City Of Wheeling, with
interest at the rate of six per cent per an
day Of March ana September in each year,
at the said Exchange Bank, for which
interest coupons in proper form shall be
attached to each bond, with the signature
of the Clerk OF the city engraved thereon !;
the said bonds 70 De signed by the Mayor Mayor
with the seal OF the city. The City Of
WheelIngjheIeby reserves the right to re-
deem at It's par value any one or more OF
said bonds on or at any time after the LIST
day OF March, A. D.. 1887.
SEC. 2. Be Il further ordained, That Nor.
gan L. OFT, Elijah j. Stone and samuel
Laughlin be and they are hereby APP
pointed Commissioners and they are here
by instructed and empowered TO sell said
bonds In the manner provided by chapter
one hundred and forty one of the act OF
1923, of the Legislature OF West Virginia;
however, that no bond .hall be
sold at less than Its par value In cash.
SIC. 3. That the proceeds arising from
the sale OF said bonds shall be paid out 10
such person or persons as the Council OF
said city shall from time to time order or
direct: privided, however, that no part OF
the same shall be paid out by Thorn for any
other purpose than in payment OF the
city orders and the overcheck
OF the Receiver of said city on the Ex-
change Bank OF Wheeling.
SEC. 4. That to secure the punctual pay
ment Of said bonus and CT upons accord
ing to their tenor and effect, the Receiver
OF said city shall, on the 18th day OF
August, 1877, and on the 10Th Day of reDru.
ary, and 18TH day If August in each and
every year thereafter, pay 10 said com
to the credit Of the said city until said
bonds shall have be- II FULLY paid,l
the sum of three thousand and SIX
hundred dollars; and that the said Re-
clever shall also, on the l5th day OF feoru'
airy, 1887, and on the 18th day OF February
in each and every year thereafter until
said bonds shall have been fully paid
out OF any monies in his hands 10
the credit of said city, pay to the said
I'm addition TO the afore.
sunni the 'um OF six thou and
dollars. The receipt OF said Commission
ers for said monies shall be Il ed with the
Clerk OF the city by the Receiver.
' SEC. 5. The Commits Sioners, out OF the
monies received by them from the Re-
clever under This ordinance, ihall pay the
cou pons issued with said bonds, as they
become due, and after payment of the
same shall, on the LIST day OF March, 1887,
and on the LIST day OF March In every year
thereafter, apply the residue OF the
monies then remaining in their hands,
together with any further sums placed
of the outstanding bonds
ssued under this ordinance, at rate not
greater than their par value. lfsaid bonds
cannot be redeemed with the consent oil
the holders at the par value Tor less,(
tb en- in such case the bonds to be redeemed
shall be determined by lot by said Com
who shall thereupon give
notice to the holders thereof, by adver.
tisement published for two weeks in some
newspaper printed in the City of Wheel
ing, OF the numbers OF the bonds to be re-
deemed, and such bonds shall cease TO bear
interest from the first day OF March OF the
same year.
SEC. 8. |: shall be the duty Of the Com
missioners to cancel as they are redeemed,
and To deliver TO the Clerk OF the city the
bonds and coupons paid by them, AT leas.
once in every year, or oftner II so required
by Council, and the Clerk shall preserve
ne same In a book to be provided for that
SEC. I. 1t shall be the duty OF the Com
missioners to k. ep a true account OF their
recri ptsand disbuI sements, and report the
same 10 Council annually, and at such
other times as Council shall order.
SEC. 8. The council of said city may for
cause remove any one or more OF SAID
CT their successors, ana
the Commissioners or theirsuccessors may
resign by giving notice in writing 10 the
ayor or Clerk of the city. Any vacancy
shall be filed by the Council.
SEC. 9. That no one shall act az Com
missioner under this ordinance until
rity to be approved by Council In the
penalty OF fifteen thousand dollars. which
bond shall be conditioned to the following
effect:
The condition of the above obligation is
such that, whereas, the above bound A. b.
under an ordinance of the City OF Wheel
ing, entitled IAN ordinance 10 provide Tor
he issue and sale Of bonds by the City oil
Wheeling, and for the payment and re,
lemption thereof, and hath accepted SAID
Now, therefore, II the said
h during his continuance as such Com
missioner, shall in all things faithfully
and diligently discharge the duties OF such
Commi >sioner, aud shall well and truly
for and pay over TO such person
Ln oil A
The same, all moneys which shall come
INTO his hands or control rs such Commis-
,ioner. then shall the foregoing obligation
be void; otherwise to remain In iull force
and virtue.
SEC. 10. 1t shall be the duty OF the Com
missioners to enforce each and every pro-
sion OF this ordinance trelating 10 MS
iuties) according 10 its true intent and
m eaning, and any failure upon the part OF
any one of The Commissioners TO comply
with and perform any duty prescribed by
This ordinance shall be deemed FORFEITURE
Of his bond ,
SIC. III. That before the Commissioners
shall make any sale OF said bonds they
shall advertise in the German paper ana
the daily newspapers OF the CITY OF Wheel.
ing, the time and place Qn said city that
they will receive bids LOT SAID bonus
bonds TO be issued, the commissioners
shall apportlon Them among those Did,
ding the greatest price.
SEC. IL. The Commissioners snail re-
ceiye as q com pensatiou for their s'rvices
One-halt of one per cent. on the amount
disbursed by them under this ordinance;
d divided however, that shey shall not be
entitled to any compensation for the dis
bursement of the proceeds OF the sale OF
the bonds. ,
SEC I3. That the bonds and coupons Is
sued under this ordinance shall not be
su bject To axation by or under authority
OF the City of Wheeling.
SEC. IA. This ordinance shall take effect
from and after its ratification by the qnali-
fled voters OF the City OF Wheeling. at an
election 10 be held Oil the 18th day OF
January, A. ID. 1871.
And Whereas. 1t is provided by the third
section of an act OF the Legislature OF west
Virginia, entitled "An act authorizing
municipal corporations 10 issue bonds,
(approved December I'd; ls5S,I that when
nadient TO issue any bonds OF su h city,
that an ordinance specifying the purpose
and amount Tor which such bonds are to he
l., tal lNtTN FNah ~