The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1891-09-15
NEW ADVERTISEMENTS.
REORGANIZATION /!

lulls OF III ntt III inc LtNilutNlt Ol Ncst VI =
ginin. IN suth ease made and Drovidcd' MI
nOuuue md pub III. that the following oIui'
nance va duly nNed according 10 law ~
regular meeting Of the Council Ut tue CITY o.
and srie Of the bonds az HE City Of Wheeling IN
the nn.odnt ng9regHttrg not more thha u!e sA'4
OF $500, said sum 10 be used aud expedited Tor
The following purpose only, VIZ: For Tue put'
pose OF providing minus for tue construction
aud building OF permanent new bridge 9ii
Main street. over Wheeling creek. AZ special
election TO To held on the
o6rI DAY or SEPTEMBER a. D. 1891,
the qualified voters Of the city Of Wheeling shall
vote upon the question VI the MITIGATION or e
nance Is In the words and figure following, to.Wt.
AN ORDINANCE TO PROVIDE FOR THE ISSUE AND
SALE or BoNBs or TILE CITY OF WHEELING, TO Nj
KNOWN As TIE "MAiE STREET BRIDGE BOMBS
SECOND SERiEs." AND FOR TIE REDEMPTION AMI
pAYNEST TIIEl.EoP.
WIIEgEAS theurtlinnnce adopted by the
Council of the city on March IL, 1870 nnd ratified
by the qualified voters at an election heiii GU
April II, 1890. bonds Of the municipality, destg;
mated US Main Street Bridge Bonds, ahd
amounting, according TO their lace value, TO ONT
hundred thousand dollars, bearing interest al
the rat0 Of four and one-halt per celltnm per
unMnm, were made and executed, aud by inc
commissioners named In said ordinance offered
for sale, and certain Of them, amounting ~ me
aggregate to thirty thousand five hundred dol
laP, and no more, were In fact sold and dcIiv'
cred: and
WiEREAs, II IS deemed advisable to provide
for the issue and sic Of other anu Smillr oonIs
al the city, In lieu OF those Remaining unsold,
and bearing higher rate OF Interest, WIN
view III realizing funds 10 secure the complexion
Of tho new Main street bridge, and TO meet the
Indebtedness Of the city; therefore.
he Il ordained by the Council OF the city oil
Wheeling US follows;
SECTION /. The Mayor and Clerk OF the city OF
Wheeling arc hereby directed 10 MAZE e.. ana dei
liver to the commissioners hereinafter named
bonds Of the city to the amount OF siXty'nlne
thousand and five hundred dollars, which BOMBS
shall be OF the following denominations Io'Wlt
Twenty-Five Of said bonds shall be OF the uen0nh'
nation Of one hundred dollars each: sixty OF taei
denomination OF five hundred dollars each. HiI
tue residue Of the denomination OtOne thOllsGnd
dollars cnch, and shall be, when made, payable
on or before the iirst dly0f November, A. u. one
thousand nine hundred aud tweniy.tOur, ny the
Bank OF the Ohio Valley In the city OF wheellng
aud shall bear interest at the rats 81 SIX psF
cGntum per Allnun, payable atnun!iy NJ Salu
bank, the first payment OF Interest 70 be on the
first day OF November, A. D. 1872, for which III,
terest. coupons In proper form shall be attached
to each bond, with the signature OF the CLERK o.
OF the city engraved thereon, the Sid bonds
shall be signed by the Mayor nnd countersgneu
by the clerk and scaled with the seal nl slid city
SECTION2. +, r. jepson, 7. d; Dobbins and J.
T. Hughes are hereby appointed commissioners
and ART empowered TO sell the bonds Of tue CITY
authorized by this ordinance, III not less tnRn
lllelE plI NuluGt ulll " llEAIOl44
duties hereinafter mentioned. Provided, how.
ever, that neither OF sald commissioners shall
net 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 rs In the case OF official bonds
SECTION 3. The commissioners shall proceed
without avOi1lble delay, TO sell such D0uds 70
the highest bidder for cash, aud 81 not less th9n
their par value, conforming IN nll things to the
provisions OF chapter III, Acts OF lSI2'J OF the
Legislature OF West Virginia as fur as the same
Is applicable.
sEcrIoN I. The proceeds arising from the sale
Of said bonds shall BIZ paid out by such COM
missioner 10 such person or persons as the
Council OF said city shall from 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 conStruc
ton Oland Tor lnbOra other necessary expenses
incurred In and about the construction OF g
permanent bridge on Main street In the city OF
Wheeling over Wheeling creek.
SECTION 8. To secure the payment OF said
bonds and the punctual payment of the Interest
thereon according to their tenor and effect the
Receiver OF the city OF Wheeling shall pay to
said commissioners on the, first day OF Novcm-
Der, one thousand eight hundred and ninety
two, and on the inst 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, a SUN;
Client SUN 10 pay the annual interest on said
bonds not redeemed, and on the first day Of No
vembcr, a. D. 1900. and on the FIST dny OF No:
vC;1ber clch and every year thereafter until
such bondsa are fully paid, In addition thereto
sim sufficient to redeem in each yeHr thereafter
the one twenty-iifty OF sald bonds, and for such
sums the ket ever shall take the receipt Of the
commissioners aud file the same with the clerk.
The sums necessary TO pay the annual Interest
on said bonds not redeemed and the said addi
tional sum not sufficient to redeem the one.
twenty-iith OF said bonds OH the first day Of
November. a. d. 1900, aud on the first dly Of
November each and every year thereafter until
such bonds are fully paid, shall be In
cluled In the annual estimate anu levy OF the
Council,
SECTION g. The said commissioners shall. ont
OF the moneys they receive from the receiver
under this ordinance. pay the annual interest
accrlIing on sail bonds. and after the payment
OF the interest us II becomes due shall OH the
first day OF November, one thousand and nine
hundred, aud on the IlTst day OF November IN
each and every ycNr thereafter, apply the resi-
due OF the moneys then remaining In their
hands to the redemption OF the outstanding
bonds issued under this ordinance, az rate not
greater than their par value. II Snid bonds cnl-
not be redeemed with the consent OF the holder
ut their par value or 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 to the holder or holders thereof
by advertisement, published two weeks In the
daily newspapers printed In the city Of Wheel
ing, of the numbers OF the bonds 10 be re.
deemed, Such bonds shall cease to bear interest
from the first day OF November OF the same
SECTION 7. 1t shall he the duty Of the commits.
SlonerS TO keep Il true and Accurnte account OF
their receipts and disbursements, and shall re-
port same to the Council annually aud such
other times rs the Council may direct. And
said commissioners shall cancel as they are re-
doomed aud deliver TO the clerk Of the city the
bonds and coupons redeemed by them, at lcGSt
once in every year, and Ofteuer II required by
the Council; and the said clerk shall preserve
the same III u book kept for that purpose,
SECTION s. The bonds issued under this ordi.
nance shall be exempt from municipal taxes by
the city of Wheeling.
sECIioS9 For cause, the Council of the city
Ol Wheeling may remove amy one or more
Of said 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 BIO filled
by Council in Joint session aud bond shall be
required OF every new commissioner US IN the
first instance.
sEcTIoS 10. II sllall be the duty OF the com.
IniSSioners to enforce each and every provision
OF this ordinance according TO It's 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 ofttl.
nance shall be deemed a forfeiture ol his bond.
SECTION IL. Before tho commissioners shall
make any sale OF said bonds they shn!l nlver'
tlse IN the daily newspapers OF the cttyo Wheel
ing, stating the time and place IN said city that
they will receive bids In writing, fOrSald bonds.
And In the event that the subscription exceeds
the aggregate OF the bonds there shall be nh APP
pOrtiOnment pro rata among those bidding the
highest price.
SEcTIoS y. The commissioners md their
successors shall receive In the way OF compGn.
satinn for their services Onc-halt Of one per
ccntum OF the amount diSbursOd by them I'M.
der this ordinance In the redemption Of the
bonds and the payment Of interest on said
bonds, and In addition thereto Gsum not to cS.
coed fifty dollars peg nnnnm for clerical services,
and said commissioners shall receive no other
compensation for their services under this ordl.
nance