Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1891-06-24
PROCLAMATION!

T c. w. STARLIGHT, MAYOR OF THE
i. CITY of Wheeling, do hereby, in accord
apce with the provisions OF an act Of the Legis-
ture of West Virginia, in such case mace ana
provided announce and publish that the loIIow-
ing ordinance was duly passed according TO law
at a regular meeting Of the Council OF the city
Of Wheeling.
Said ordinance provides for the issue and sale
of the bonds Of the city Of Wheeling In the
amount aggregating not more than the sum OF
$50 0O0
Said sum to be used and expended for the fol-
lowing purpose only VIZ:
For the purpose Of providing means for the
erection and completion Of an Electric Light
Plant within the city OF Wheeling
At special election TO be held on the
9th DAY OF JUNE, \. ID. 1891.
the qualified voters of the city OF Wheeling
shall vote upon the question OF the ratlhcation
ordinance is in the words and figures following
" AN ORDINANCE
Authorizing the issue and sale OF Bonds OF the
City of Wheeling. and the APpncatlon OF the
Proceeds to the Erection and Completion of
an Electric Light Plant within the City Of
Wheeling.
BE IL Ordained 6y the Council Of the city o
Wheeling, as fOitO1cS:
SECTION l. The Mayor and Clerk OF the city OF
Wheeling
make and deliver to the commissioners herein
after named, bonds of the city to the amount Of
eighty thousand dollars to pay Tor the erection
and completion OF an electric light plant with
in said city, which bonds shall be OF the follow
mo denominations, viz: One hundred of said
bonds shall be OF the denomination OF one hun
dred dollars each: one hundred of the denom-
nation Of five hundred dollars EACH and the
residue OF the denomination OF one thousand
dollars EACH and shall be made payable on or
before the first day of October, A d. one thou
sand nine hundred and one, at the Bank Of the
Ohio Valley. in the city of Wheeling, and shall
bear interest at the rate OF six per cent. per an
mum. PAYABLE annually at said bank, the first
payment of interest to be on the first day of Oc-
tober A d. 1892 for which interest cou oons in
proper form shall be attached TO each bond,
with the signature OF the Clerk OF the city en-
craved thereon. The said bonds shall be sign
by the Mayor and countersigned by the Clerk,
and sealed with the seal OF said city.
SIC . j J. Jones. j. S. Naylor and Robert
Simpson are hereby appointed commissioners,
and empowered to sell the bonds Of the city au-
thorized by this ordinance, at not less than
their par value; and to perform other acts and
duties hereinafter mentioned. ProU'ded, h0W.
eger that neither of SAID commissioners shall
act under this ordinance until he snail have
given bond with good security, TO be approved
nv Council in the penalty of ten thousand dol
lars conditioned as in the case OF official bonds.
SEC. g. The commissioners shall proceed with
out aVoidable delay, TO sell Such bonus TO the
highest bidders, for cash, and at not less than
their par value, conforming in all things to the
provisions OF chapter al, Acts OF 1928 Of the
Legislature Of West Virginia as far MS the same
is applicable.
SEC. 4 The proceeds arising from the sale
OF Said boRds shall be paid out by said COM
missioners TO such person or persons rs tne
Council of the said city shall from time TO
time order and direct. Pr0Dtded, h0UeCer, that
no part thereof shall be expended for any other
purpose than in the erection and completion OF
an electric light plant within the CITY.
SEC 3. To secure the payment OF said bonds
and the punctual payment Of the interest there
on according TO their tenor and effect, the Re-
ceiyer OF the city of Wheeling shall pay to SAID
commissioners on the first day OF October, one
thousand eight hundred and ninety-twO, and on
the first dav OF October each and every year
thereafter until such bonds and coupons shall
be fully paid. out OF any moneys OF the CITY OF
Wheeling in his hands, sufficient sum to pay
the annual interest or said bonds not re-
deemed, and in addition thereto the sum OF
eight thousand dollars and for such sums the
Receiver shall take TIE receipt OF said commits
SiOners and fi.e the same with the CLERK. The
sum necessary to pay the annual inter, st on
said bonds not redeemed, and the said sddl
tional sum of eight thousand dollars, shall be
included in the annual estimates and levy OF the
Council
SEC 6. The said commissioners shall, out Of
the moneys they receive from the Receiver I'M
der this ordinance, pay the annual interest ac-
cruing on said bonds, and after the payment OF
the interest aS it becomes due shall. on the trst
daV Of October, one thousand eight hundred
and ninety-two, and on the hrst day OF october
in each aud every year Internationally the res
idue OF the moneys then remaining In their
hands to the redemption OF the outstanding
bosds issued under this ordinance, mt rate not
greater thHn their par value. II SAID bonds can
not be redeemed with the consent OF the holder
Mt their par value d less then in such cases The
said bonds TO be redeemed shall be determined
by lot by said commissioners who shall there
upon give notice 10 the holder or holders there
OF by advertisement published for two weeks in
The daily newspapers printed in the city of
Wheeling Of the numbers OF the bonds to be re-
deemed. Such bonds shall cease 10 bear inter
est from the first day OF October OF the same
year.
siouers to keep a true and accurate account Of
their receipts and disbursements, and shall re-
port the same to the Connect annually, and at
such other Zines the Couacil may direct.
And said commissioners shall cancel rs they
are redeemed and delivered to the clerk Of the
city, the bonds and coupons redeemed by them,
ut least once in every year, and oftener II re-
Quired by the Council: and the Suld clerk shall
preserve the same in a book to be kept for that
purpose.
SEC. s. The bonds issued under this ordinance
shall be exempt from municipal taxes by the
city Of Wheeling.
SEC 9. For cause the Council of the city of
Wheeling may remove any one or more OF SAID
commissioners or their successors. and the
commissioners and their successors may resign
by giving notice in writing 20 the Mayor or
Clerk OF said city. ANY vacancy shall be filled
by Council in JOINT session, aud bond shall be
required OF every new commissioner as in the
hrSt4hktance.
SEcQlO lt shall be the duty Of the commits
sioners to enforce each and every provision of
this ordinance according to its 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 ordinance
shall be deemed u forfeiture OF his bond.
SEC H. 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 Wheeling, stating the time and place
in said city that they Will receive bids. in
writing, for said bonds And in the event that
the subscription exceeds the aggregate Of the
bonds there shall be an apportiOnment pro rata
among those bidding the highest price
SEC IL The commissioners and their sue
ceSsors shall receive ia th> way OF compensa-
ton for their services One-half of one pcrcentum
Of the amount disbursed by them under this or
dinance in redemption OF the bonds and the
payment OF interest on said bonds, and in addl-
ton thereto a sum not TO exceed fifty dollars
per aunum for clerical services, and said COM
mi sSioners shall receive no other compens alton
for their services under this ordinance.
SEC. 49, This ordinance shall take effect from
and after its ratification by the qualified voters
OF the city of Wheeling at an election 10 be held
on the 27th day of June. 1891
The aggregate amount Of Indebtedness Of the
city of Wheeling. issued and authorized by the
said city and existing at this date is 1889 40 ga
This includes the Main Street Bridge bonds.
Given under my hand this 18th day OF June,
1891.
C. W. SEABRIGHT,
Mayor Of the City Of Wheeling w. Va.
THOMAS f. 1HONER,
Clerk of the City OF Wheeling, W. Va.