Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1885-01-13

gISS5, and for iss r~edempi0a aai puynsat hsrSg.
Be 1t ordained By the Council of the City Of Wheel
ing:
SECTION l. For the purpose OF providing means
for paying the outstanding ioGting Indebtedness OF
the Ciiy Of Wheeling, and such OF the bonds issued
under The loan ordinances adopted on June ID, 1871,
and March n, 1875, respectively, as are not yet paid
or provided for By funds in the hands OF the Com
mikslopeI1 appointed by or under said ordinances,
the Mayor aud Clerk Of the City OF Wheeling are
hereby authorized and instructed TO make, and on
the trst day of March, A. d. 1855, or IS soon there
after as practicable, deliver to the Commissioners
City of Wheeling, dated the first day OF March, A.
d.. 1885, for an amount Aggreganng three hundred
thousand dollars; which bonds shall be OF the fol-
lowing denominations: One hundred OF said bonds
10 be OF the denomination OF i've hundred dollars
each, aud two hundred and fifty Of said bonds TO be
Of the denomination Of one thousand dollars el:a
Said bonds shall be numbered from 81" TO $50
inclusive. The said bonds shall be payabls on a.
before the fIst day Of March, A. d. 1919, at the Com
nercial Bank Of Wheeling, with interest at tle rate
Of four and one-haf per cent per annum, payable
annuSlly on the first day OF March, 1886, and on thc
fBt day Of March in each year thereafter unti and
inducing the year 1919, at the said Commercial
Bank Of Wheeling, for which interest. coupons in
proper form shall be attached 70 each bond, with The
signature of the Clerk Of the City engraved thereon
The said bonds shall be signed By the Mayor, cOlu
t~ersigned by the Clerk, and sealed With the seal OF
the city. The City Of Wheeling hereby reserves the
light to redeem at its par value. any one or mora ct
INT bflu bulub tu VI IL any AWN AAeCA - me- ~
ofMaTch, A. d. 1896. Neither the said bonds mo-
he coupons thereto attached shall be subject u
taxation under the authority Of the City Of Wheel
ing. .,u.N yvu.,..
IoS. Sey bold and 5. ?. Hildreth. DO, and they are
hereby appointed Commissioners, and they arc b ,re-
by empowered and instructed 10 sell the said bonds
at not less than their par value, and IN the manner
provided by Chapter l4i Of the Acts Of 1928 OF the
Legislature of Mest Virginia.
SIC. s.. The said bonds shall be issuel on'y fJr the
following purposes: .
FntEtaying the outstanding city orders and
other floating Indebtedness OF the city with interest
thereon, amounting to two hundred and seven thou
sand dolRNs.
Scond-PGyiug and redeeming the unpaid bond.
Of the loan OF June S0th, 1871, with interest thereon.
amounting to seven;y-siK thousand dollars.
Third-Paying and redeeming the unpaid bond
Of the loan Of March 18th, 1876, with Interest there
on, amounting 10 ten thousand dollars.
Fourth-Paying the due and unpaid interest on
the loan Of August Is, 1881, amounting to seven
thousand dollars.
Tie said Commissioners shall devote out OF the
proceeds arising from the sale Of said bonds, an
amount not exceeding said sum OF SOL 900 10 the pay.
Inent OF outstan' Ing orders and other out:ianlln
which money so devoted TO the payment of the
outstanding floating Indebtedness shall be paid b!
said Commissioners TO such person or persons a.
the Council Of said city shall from time TO time
direct.
said ordinances Of June 18th, 1871, and March lIth
1870, blall AZ the salt Vi DOuuS IsouCu uuiOA ~
ordinance, as authorized by Section niue OF Chapter
I4l Of the Acts of 1928, have offered 10 pay ioI
bonds of this issue in bonds issued under said or
dinarceS Of 1871 and 1879, the said Commissioner
may In their discretion, upon considering TIT
terms OF such offer, exchange the new Tor the olU
bonds. d,
For the redemption of such Of the bonds issued
under said ordinances OF 1871 ana 1875 as shall not b.
exchanged, aud can aot be purchased at their par
value. The said Commissioners shall hold a sufficient
guautitv Of the bonds issued under this ordinance
until by the terms OF said ordinances OF 1871 aud lS7
respectively, a definite amount shall 10 required rs ,
sinking fund for said loans OF 1871 and 1879 respect
lively; and they shall hen sell a sufficient numbero
the bonds TO produce The amount relatTed loT sucl
linking urds, and lay the same to the Commission
ers OF said loans oil 1871 and 1878, as tho circumstance
may require. Ii by reason OF q part OF the bond
issued under said ordinances OF 1871 and 1879 having
been surrendered a reduced amount oil money shouln
be needed to satisfy the demands OF the annual sink
ing funds required by said ordinances, the said Com,
misSiOners shall sell only so many OF the bonds issued
under this ordinance, and reserved for the purpose.
as may be necessary to pay q proper proportion oil
the said former issues OF bonds.
SIC, 4, There shall be annually levied by the
| Council Of the City of Wheeling, at the same time
that the annual levy of city taxes for other purposes
is made, until all the bonds Issued under the proYi
slons Of this ordinance are paid, n direct tax upon all
the real estate and personal property assessed by SAID
city for taxation. which direct tax shall be levied a.
a separate tax and in addition 10 all other taxes tina
may be levied fer the benefit Of the city, All which
shall be sufficient to producein each year until and
| ing the year lSg3 the sum OIL lnlGtctu tubusduu
five hundred dollars, with which - pay the intere5'
annually accruing upon the said bonds; and which
| levy shall, after the year 1898, until the said OondS
shall be fully redeemed and satisfied, be suthclent "
paw annually the interest on such OF said bonds az
| shall he III redeemed, and IN addition thereto 10 re-
deem in each year bonds'tssued under this ordinans
amounting at their par value TO the sum oil t"eI''
| thousand dollars. II In any year. at the time o.
making the annual levy the Council should neSleci
or fail to make the levy as required by this Se2tioar
it shall he tho duty OF the said Commissioners, o!
their successors, to apply TO . court o! competent
jurisdiction for n writ OF mandamuS or other proper
process TO compel the making OF such levy. The said
lax shall be collected in such manner rs IS or may ID,
provided by Law and the ordinances Of the city ior
the collection Of other taxes on real estate and per
sonal property. The Collector OF the city shall pay
TO the Receiver Of the city on each second Friday the
total amount Of the taxes levied and assessed In par
suance of the requirements OF this ordinance winch
shall have heretofore been collected by him. Tn
said tax shall be by the Collector while In his pos
session, and by the Receiyero Of the city when paid t.
him, Kept land accounted for separate from all
other moneys Of the city.
SEC, s, The Receiver Of the city hll on or before
tie fifteenth day of February, A. ID. 1886, aud on Dr.
before the ftiCelth day Of February IN each and
avery year the reafter pay to the said Commission
ers ali tbe % pneys which shall have heretofore bsan
aid 10 him on account OF the direct tax levied In
puri uAnce Of tie requirements oil this ordinance
While said funds remain In the charge oil the Re
silver II shall be his duty TO keep the same deposited
a some bank or banks In the city OF Wheeling NJ
he best rte Of interest he can obtain, which inter
sst he shall account for and pay over TO said Com,
nissioners upon making payment TO them OF the
principal OF The fund derived from SAID tar. Inc
~eceipts o. said Commissic ne 5 lur the said money!
hallSe Alsd by ths Receiver with the CLERK oil the
inv. and shall be preserved by him.
SIC, 6. The said Commissioners, out OF the moneys
received By them from the Receiver under this or
finance, shall pay the coupons ! sued with said
ponds as the, become due, and any moneys received
Nv Them nrior 10 the frse day OF March, A. ID. 1898,
n exec s of the amount required TO pay the said In
crest coupons IS they sha l become due, they shall
deposit in some bank In the city OF Wheeling at the
test rate of interest they can obtain, and they shall
seport 10 the c ,urcll and pay into the treasury oil
the city all the moneys they shall receive Is inter
est OIL such deposits.
GItt day of NJ uch iu each year thereafter. until Sue
boz d. Issued herr under are fully paid. they snail
after first paying the 1, teret coupons coming du'
apply the " sidue Of the moneys tnen renLansnS ~
IN Ter their control for the purpose, 10 the re temp
ton q the outstanding bonds Issued under TINS or
uinsnce, st q rate not greater than theit par ys!a"
The bonds TO be redeemed shall be deter lined 6y
LOT nv n Q said Commissioners annually between tn,
first and twelfth day Of February in the YER 1892
and between the FSt and twelfth day OF Fe6r iary
I'm each wear thereafter, until the bonds issued here
under are fully pail, aud said Commiuioners shal
thereupon Immediately give notice TO the hoider
thereof, by advertisement published dail', suntayi
excepted, Tor two weeks in tie daily neWsplpen
printed in the city Of Whesing. stating the num-
her. of the bondp to he redeemed and III { the sans
1meuil be redeemtd It said Commercial Bank on
and after the nTSt day OF Mafcn next suCteehuB
and will cease 10 bear interest from said day, ant
said bonds shall Geese to bear interest from tue mr.
dsy Of the next month after the completion OF such
publication. 1t Is provided, however, that IL tht
holders OF all of the bonds 80 drawn by lot shall be
known 70 the said Commissioners, the sait Commits
sionrB may give actus' notice in Thnn TO such
holders within ten days after such drawing, which
notice shall be the same as that herein other wise re
Ouired 70 he published, and such actual notice shall
have the same effect Is II IL had bean pubh'hei N
the mannef heretnbeiore SET 10 "a. IL Anan Q,
stated or The lace Of said bonds that they are, AL OIL
any Of them. liable TO redemption At their par yAt1'
on and at any time after the first Of March. A ID
1895
3 7. It shall be the duty Of the said COMMITS
sioner to cancel, Is they are redeemed, the band
and coupons paid by them, and they shall once u
eysry year, and oitener II required By the Council
deliver 70 the clerk Of the city all reedend aaC
canceled bonds and coupons In their hands, and tn
clerk shAl preserve the same in o book 70 be pro
sFc & Il shall Sc the duty Of the Commissioner
to keep = true accounted thar receipts and disoorSe
meuts and reporI the same 70 Connel annually II
the month Of April, and at such other times - IN
Council shall order.