The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1877-01-17
n EWApvERTIsEMEkTs
ELECTION NOTICE
To the Qualified Voters of the
CITY of " heeling.


WHEREAS, The Council OF the City O
| 1877, adopt an ordinance in words ant
| figures as follows, that 10 TO say:
AN ORDINANCE to provide for the issue ant
sale of bonds by the City Of Wheeling
and for the payment and redemption
thereof:
SEC. 1. Be it Ordained by the Council O
the CITY OF Wheeling: That for the purpose
of providing means for the payment OF the
outstanding and unpaid city orders, and
the payment OF the overcheck OF the Re
ceiver OF the City OF Wheeling on the Ex
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
r., 1871, or as soon thereafter as practical
BILE, deliver to the commissioners herein.
after appointed the bonds OF said city, In
sums Of $500 each, 70 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 to be signed by the Mayor,
with the seal OF the city. The City OF
WheelinHhereby 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 ap.
pointed ommissioners, 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
1928, of the Legislature OF West Virginia
provided, however, that no bond khall 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 TO
such person or persons as the Council OF
direct: privided, however, that no part OF
the same shall be paid out by them for any
other purpose than in payment Of the
outstanding city orders and the overcheck
of the Receiver of said city on the tx
change Bank OF Wheeling.
SEC. 4. That to secure the punctual pay
ment of said bonus and CO upons accord
ing to their tenor and effect, the Receiver
OF said city shall, on the 18th day oil
August, 1877, and on the 18th day Of Febru-
ary, and 18th day Of August in each and
every year thereafter, pay to said COM
to the credit Of the said city until said
bonds shall have BEEN fully paid
the sum of three thousand and SIX
hundred dollars; and that the said Re-
clever shall also, on the 18th day OF Febru.
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 am monies in his hands TO
the credit of said city, pay to the said
Commissioners I'm addition to the afore.
mentioned sunny the sum OF six thousand
dollars. The receipt OF said Commission
ers for said monies shall be filed with the
Clerk OF the city by the Receiver.
SEC. 5. The Commissioners, out OF the
monies received by them from the Re-
clever under this ordinance, ihall pay the
coupons 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
under their control for the purpose, to the
redemption of the outstanding bonds
ssued under this ordinance, at rate not
greater than their par value. lfsaid bonds
cannot be redeemed with the consent OF
the holders at Their par value Tor less,l
then in such case the bonds TO he redeemed
shall be determined by lot by said Com
miesiOners, who shall thereupon give
notice TO the holders thereof, by adver.
tisement published for two weeks IN some
news paper 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. IL shall be the duty Of the Com
missioners to cancel as they are redeem ed /,
and to deliver to the Clerk OF the city the
bonds and coupons paid by them, at least
once in every year, or 0fIner II SO required
by Council, and the Clerk shall preserve
the same in book to be provided for that
purpose. o..
misSioners to Ike ep true account OF their
receipts and disbuI sements, and report the
same TO Council annually, and at such
other times as Council shall order.
SEC. s. The Council OF said city may for
cause remove any one or more OF said
Commissioners CT their successors, and
the Commissioners or theirsuccessors may
resign by giving notice in writing to the
nayor or Clerk of the city. Any vacancy
shall be filled by the Council.
SEC, 8, That no one shall act as Com
missioner under this ordinance until
he shall have given bond with secu-
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.
has been duly appointed Commissioned
under AN ordinance of the City of Wheel
ing, entitled IAN ordinance TO provide Tor
the issue and sale of bonds by the City OF
Wheeling, and for the payment and re.
demplion thereof, and hath accepted said
appointment: Now, therefore, If the said
A. b 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
account for and pay over TO such person
or persons as may be entitled TO receive
the same, all moneys which shall come
into his hands or control as such Commits
sioner, then shall the foregoing obligation
be void; otherwise TO remain In full force
and virtue.
SEC. 10. 1t shall be the duty OF the Com
missioners to enforce each and every pro-
vision of this ordinance (relating TO his
duties) according to It's true intent and
meaning, and any failure upon the part OF
any one OF The commissioners TO comply
with and perform any duty prescribed by
this rdinance shall be deemed forfeiture
OF his bond.
SEC. IL. That before the Commissioners
shall make any sale OF said bonds they
shall advertise in the German paper and
the daily newspapers OF the City of Wheel
ing, the time and place lin said city that
they will receive bids for said bonds:
should the bids exceed the amount oil
bonds to be issued, the commissioners
shall apportIon them among those bid
ding the greatest price.
SEC, ~. The Commissioners shall re-
ceive as compensation for their services
one-halt Of one per cent on the amount
disbursed by them under this ordinance;
provided however, that shey shall not be
entitled TO any compensation Tor the as
bursement of the proceeds Of the sale OF
the bonds.
SEC. u. That the bonds and coupons Is.
sued under this ordinance shall not he
subject tn taxation 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. nj an
election to be held on the 18th day OF
January, A. ID. 1877.
And ,chereds, 1t is provided by the third
section of an act of the Legislature OF West
Virginia, entitled IAN act authorizing
municipal corporations TO issue bonds,
(approved December I'd, 1871 that when
The Council OF any city should deem IL ex-
pedient to issue any bonds OF sub city,
that an ordinance specifying the purpose
and amount Tor which such bonds are To Re
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