The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1891-09-14

| Ing. do heFsbY, III nccOtdnnce win the ptOyls'
| Ions OF Gu net OF the Legislature OF We5t Viz
| ginia. IN such cn,e made aud provided, an
| nOuuce and pub.iih, that the following OTdi'
pantc wa day passed lccOrl!ng 10 Jaw ~
regular meeting Of the Council o. the city OF
Wheeling, said ordinance. provides ior Tic issue
aud sale OF tue h0nds a III City OF Wheeling 10
| the amount aisgfeguting not more lhtn the sum
| OF $3.50, said sum 10 be used md eSpel AID for
| tho following purpose only, VIZ; FOR tue puf'
pose OF providing menus ioT the construction
and building OF o permanent new bridge on
MlIu street. over Wheeling creek. AT special
election u lie held on the
25rn DAY OF SEPTEMBER, A. D. 1891,
the qualified voters OF the city Of Wheeling shall
vote upon the QtIcItlon AZ the ratification or TO-
teclion Of the ordinance azores ~, which ord.
nance Is in tue words and hSuTe l0h0winB' t0-wlt;
An otfpIEASCE 10 PROVIDE FOR TIlH ISSUE AND
SALE or BONDS OF THE CTR or WHEELING, 10 NE
KNOWN As THE "MAiN sTilEET BRIDGE BONDS
SECoSD SERIES" ASD ron Tia REDEaFrioS aSp
PAYMENT T1iEE2oR.
WHEREAS. Under the ordinance adopted BY the
Council OF the city OIL March H. lS9l, aud ratified
by the qualified voters at an election held on
April 10 1870, bonds Of the municipality desig:
mated as "AIaIn Street Bridge Bonds," aud
| amounting, according 10 their lace value TO one
| hundred thounand dollars, bearing interest ~
the rate OF four and oue.half per Centun per
unnum, were made and executed, md BY the
commissioners named III said ordinance olereu
for sale, and certain Of them, amounting " the
ukETtkult W lluuAull NV
lars, and no more, were in tlct sold ana dcltV'
cred; and
WHgEgAs. It Is deemed advisable 10 provide
for the isstir and snic Of other nnd similar bones
Of the city In lien of those remaining uilsnld,
and bearing higher rate Of Interest, With
view TO realizing funds 70 secure the complexion
OF the new Main street bridge, and to meet the
Indebtedness Of the city; therefore.
be II ordained by the Council OF the city OF
Wheeling MS follows:
SECTION /. The Mayor aud Clerk OF the city Of
Wheeling arc hereby directed to make ana de,
liver TO the commissioners hereinafter IlAHled
bonds Of thp city TO the amount of st%ty'ntne
thousand and five hundred dollars which bonds
shall be OF the following denominations to'wtt:
Twenty-Five Of said bonds shall Dc otthe denOmi.
nation OF ole hundred dollars each; sixty Of the
denomination of iVO hundred dollars each, ana
the residue Of the ACKNOWLEDGEMENT Que thousand
dollars each, and shah be, when made. payable
oil or before the first day OF November, y. ID. one
thousand nine hundred ard twgnty-iouE, ut the
Bank OF tho Ohio Valley in the city OF Wheeling,
and shall bear interest ut the rntG OF SIX per
centun per Allnum, payable annually at SAID
bank, the first payment Of interest TO be on the
first day of November. a. u. 1892, for which III.
tercst, coupons In proper form shall be attached
to clch bond with the signature OF the clerk Of
OF the city engraved thereon, me SAID BONDS
shall be signed by the Mayor Ind cOuntefBigned
by the clerk and sealed with the seal OF said city
SECTION ?. +. i. JepsOn, r. j. Dobhins ana J.
Z. Hughes are hereby appointed commissioner !,
authorized hy tflis ordinance, at not less than
their par value. and to perform other acts and
duties hereinafter mentioned. Provided, now
ever, that neither OF said commissioners shall
act under this ordinance until he shall have
given bond with good security. to be approved
by Council, in the penalty OF ten thousand dol.
lars, CONDITIONED as in the cnse OF official bonds
SECTION D. The commissioners shall proceed
without nvOldable delay, to sell such bouds TO
the highest bidder for cash, and At not less than
their par value, conforming In oil things to the
provisions OF chapter al, Acts OF 1878 Of the
Legislature Of West Virginia as far rs the snlnc
is applicable.
sEcTioS l. The proceeds arising from the sale
OF said bonds shall be paid out By such COM
missioner to such person or persons as the
Gonncii Of said city shgii iron time to time or.
der and direct. Provided, however. that no part
thereof shall be expended for any other purpose
than for paying for material used In the conStT1c'
ton Of and for lHbOrlnd other necessary expenses
incurred IN and about the construction OF
permanent bridge on Main street In the city OF
Wheeling over Wheeling creek.
SECTION o. To secure the payment OF said
bonds and the ,punctual payment OF the interest
Receiver OF the city OF Wheeling shall pay to
sud commissioners on the first day OF Novcm.
Der, one thousand eight hundred aud ninety.
two, and oil the Hrt day OF November Of each
and every year thereafter until such bonds and
coupons shall be fully paid, ont OF any moneys
OF the city Of Wheeling In his hands, q sWih.
Client STUN to pay the annual interest on sntd
bonds not redeemed, aud OH the first day Of No
vember, A. y. 1900, and on the first day OF No:
vembur each and every year thereafter until
such bondsnre fully. paid In addition thereto
sum sufficient to redeem In each year thereafter
the one twenty.fity Of said bonds and for such
sums the Receiver shall take the receipt OF the
commissioners and file the same with the clerk.
The sums necessary TO pay the annual Interest
on s1id bonds not redeemed and the sud add.
tionNl sum not sufficient 10 redeem the one
tWCnty.tltth OF said bonds on the first day OF
November, a. d. 1000, and on the first day OF
November each aud every year thereafter until
clnded IN the annual estimate and levy OF the
Council.
SECTION G. The said commissioners shall, out
Of the moneys they receive. from the receiver
under this ordinance, pay the annual interest
accrning on said bonds, and after the payment
Of the interest Us II becomes due shall on the
first day. OF November one Thousand and nine
hundred, aud OH the first day OF November in
each and every yenr thereafter apply the resi-
due OF the moneys then remaining In their
hands TO the redemption OF the outstanding
bonds issued under this ordinance, ut rate not
greater than their pnr value. II said bonds can.
not be redeemed with the consent OF the holder
at their par value or less, then In such cases the
said bonds to be redeemed shall be determined
by lOt,py snid commissioners, who shall there
upon give notice TO tl!e holder or holders thereof
byndvertiSemcnt, published two weeks IN the
daily newspapers printed in the city OF Wheel
Ing, OF the numbers Of the bonds TO be re.
deemed. Such bonds shall cease 10 bear interest
from the first day Of November OF the same
year.
SECTION Z. 1t shall he the duty Of the commits.
sloners 10 keep n true and accurate account Of
their receipts and disbursements, and shall re-
port the same TO the Council annually, and such
other times rs the Council lnly direct, And
suid commissioners shall cancel as they nre re-
deemed and deliver TO the clerk OF the city the
bonds md coupons redeemed by them, ut least
once in every year, Hnd oftenor II required by
the Council; and the said clerk shall preserve
the same In book kept for that purpose,
SECTION g. The bonds issued under this ordi-
nance HlinII DN UNnllOt ilIlnlCiDll faxes nv
the city Of Wheeling.
SECTION 9. For cause. tho Council OF the city
OF Wheeling may remove any one or more
OF Snid commissioners or their successors, and
the commissioners and their successors may re-
sign by giving notice IN writing to the mayor or
clerk OF said city. Any vacancy shall be filed
by Council In Joint session aud bond shall be
required OF every new commissioner as In the
first instance
SECTION 10. It shnll be the duty Of tho com.
missloncrs 10 enforce each md every provision
Of this ordinance according TO Its true intent
and meaning. And any failure on the part OF
any one Of the commissioners 10 comply with
and perform any duty prescribed by this Onli-
nance shall be deemed forfeiture OF his bond.
SECTION II. Before the commissioners shall
make any sale OF said bonds they shall llver
ttse In the daily newspapers OF the city OF Wheel
ing, stating the time aud place III said city thnt
they Will receive bids IN writing, for said bonds
And In the event that the subscription exceeds
the aggregate of the bonds there shall he M np
portionmentpro rata among those bidding the
highest price.
successors shall receive In the way OF cOmpen-
Elti0n for their services one-hAlG OF one per
ceutum OF the amount disbursed by them I'M
der this ordinance In the redemption OF the
bonds and the payment OF interest on sud
bonds, and IN addition thereto sum not TO ex-
coed fifty dollaTsPer nnuum for clerical services,
and said commissioners shall receive no other
compensation for their services under this ordl-