Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1885-01-06

Al ORDINANCE 70 proriis for the issas an sale o.
Etads Of Mc CIig Of nhoeihg. 10 De knoTH as Bonds
gISS5, dEd for tae redemption all payment thereof
Pc ii ordained by the Council OF the City Of Whesi-
ing:
SECTION /. For the purpose OF providing means
for ~ ing The outstanding boating Indebtedness Of
The lily OF Wheeling, and such OF the bonds Issued
undtr the loan ordinances adopted on June IL, 1871,
and March II, 1873, respectively, rs are not yet paid
or provided for by funds In the hands OF the Com
missicrcrs appointed by or under said ordinances,
The Mayor and Clerk oil the City Of Wheeling are
hereby authorized and instructed TO make, aud on
the first day OF March, A. d. 1855, or rs soon there
after rs practicable, deliver to the Commissioners
hereinafter named and appointed the bonds Of the
City OF " hIeling, dated the first day OF March, A.:
d. 1855, for an amount Aggregating three hundred
thousand do 'lars; which bonds shall be OF the fol-
lowing denominations: One bundled Of said bonds
10 lie OF the denomination OF i've hundred dollars
each, aud two hundred and fifty OF said bonds 70 be
Of the denomination OF one thousand dollars each.
Said bonds shall lie numbered from "l' TO $3.50"
inclusive. The said bonds shall be payable on or
before the first day Of March, A. -. 1919, Mt the Com
mercial Hank OF Wheeling, with interest at the rate
OF four and one-hah per cent per annum, payable
annually ON the first day OF March, 1855, aud on the
first day Of March in each year thereafter until and
inducing the year 1913, at the said Commercial
Bank of Wheeling, for which interest, coupons Ia
proper form shall be attached TO each bond, with the
signature Of the Clerk Of the City engraved thereon.
The aid bonds shall he signed by the Mayor, cOnn
~tersigned by the Clerk, aud sealed with the seal Of
the city. The City OF Wheeling hereby reserves the
right 10 redeem at its par value, any one or more OF
the 'aid bonds on or at any time after the fret day
OF March, A. u. 1895. Neither the said bonds nor
the coupons thereto attached shall be subjecI to
taxation under the authority oil the City oil Wheel
ing. .
SRr. .. Re IL further ordained, that \. Wilkinson,
Jos. Seybold and 5. =. Ilildreth, be, and they are
hereby appointed Commissioner, and they are b ere
BIS empowered and instructed 10 sell the said bonds
at not lss than their par value, and In the manner
provided by Chapter III OF the Acts Of 1928 OF the
Legislature Of West Virginia.
sEC 3. The said bonds shall be Issued only for the
Fint-faying the outstanding city orders and
OTHER acating Indebtedness Of the city with interest
thereon, amounting 10 two hundred aud seven thou
sand dol as.
s~ecord-PayIng and redeeming the uopaid bouis
Of the loan ofJune 3Oth, 1871, with interest thereon,
amounting TO seyenty-six thousand dollars.
1hird-raying and redeemlng the unpaid bonds
Of the loan Of March 18th, 1915, with interest there
Oh, amounting 10 ten thousand dollars.
Fouuh-Paying the due and unpaid Interest on
the loan Of August %, 1881, amounting to seven
thousand dollars,
The said Commissioners shall devote out Of the
proceeds airing IRON the sale Of said bonds, an
amount not exceeding said sum OF $4,000 20 the az.
meut Of outsiGns ing orders and ether outsi,riiny
Indebtedness Of the city. aud interest thereon,
which money 40 devoted " the ~ ,ment OF the
outstanding floating indebtedhs~ hall Il. maid by
said Commissioners 10 su"i, ,crson or persons a,
direct. - '
II the holder, NJ .nx n, ,be bond. Issuei under
,sia oralna' .ces OF June 18th, 1871, and March ilth,
ls,5, th''I at the sale OF bonds issued under this
1,u'p, nee, as authorized by Section nine Of Chapter
10 Of the Acts Of 1928, have offered 10 pay Tor
bonds Of this Issue In bonds Issued under said or
dinapces Of 1871 and 1875, the said Commissioner
may In their discretion, upon considering the
terms oil such offer, exchange the new for the old
For the redemption OF such o the bon Is ipued
under said ordinances Of 1871 aud 1875 rs shall not be
exchanged, and can aot be purchasei nj their par
value, the said Commissioners shall hold a sufficient
quantity Of the bonds Issued under this ordinances,
until by the terms Of seid ordinances OF 1871 and 1875
respectively, . definite amount shall 10 required as .
sinking fund for aid loans OF 1871 and 1875 respect.
lively and they shall then sell q sufficient number OF
the bonds TO produce the amount required for such
linking funds, and ray the same 20 the Commission.
es Of said loans OF 1871 and 1875, az the circumstances
NAV require. II by reason OF Q part Of the bonds
issued under said ordinance Of 1871 and 1915 having
he ueeied to satisly the demands Of the annual sink
ing funds required by said ordinance, the said CON:
mfssi0ners shall sell only 40 many OF the bonds ssnet
under this ordinance, and reserved Tor the purpose,
as may be necessary 10 pay 2 proper proportion oil
SIC. 4 There shall lie snnually levied by the
Council Of the City Of Wheeling, At the same Tine
Is made, until all the bonds issoed Under the proyt:
sions Of this ordinance are paid, q direct tar upon all
the real estate and personal property asssssed by said
city for taxation. which direct tax slEalI be Levied ~
a separate tax and In addition % all other taxes that
NAV be levied fer the benelt Of the city, snd which
shall be sufficient 70 produce In each year until and
The year 1s93 the SUM Of thirteen thousand
Eve hundrtd dollars, with which - pay the interest
annually accruing upon the said bonds; and which
levy shall, after the year 1888, until the said bonds