Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1891-06-20

ing ordinance was duly passed according 10 law
at regular meeting OF the Council Of the cl'y
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 Oh
$50 0U0
Said sum to be used and expended for the FOL
lowing purpose only. viz
For the purpose of providing means FOR ne
erection und completion Of an Electric Light
Plant within the city OF Wheeling.
Ataspecial election T. BE- held On ne
9TH DAY OF JUNE, 4. D. 1871.
The qualified voters of thu city of Wheeling
shall vote upon the question OF the ratlii-El''
or rejection of the ordinance aforesaid, which
ordinance is in the words aud figures following,
AN ORDINANCE
Authorizing the issue and sale Of Bonds OF thn
CITY of Wheeling aud The Application or the
Proceeds to the Erection ana Completion 81
an Electric Light Plant within the CITY OF
Wheeling.
Be- Il Ordained by tie Council Of hs CHy
Uh6eliEQ, as foiOlcs:
SECTION /. Tie Mayor ami Clerk Of the city Of
Wheeling are hereby authorized und d reclrd 10
make aud deliver to the commissioners hetclh'
after named. bonds Of the city TO the amount or
eighty thousand dollars 20 pay FOR the erection
and completion Of an electric lsht plant with
IN said city, which bonds shall be Of the follow
ing denominations, viz: Ore hundred OF NaId
bonds shall be Of the denomination OF one nun
iuaton Of five hun lred dollars each, aud me
residue of the dCnomi ton Of one thousand
dollars each; and shall be made payable on or
before the first day OF October A. d. one lhou-
sand nine hundred and one. At the Bank Or the
Ohio Valley In the city of Wheeling, and shall
bear interest at the rate Of six per cent. per an
nun, payable annually at SAID bans, the INST
payment OF interest TO be on the first day OF DC
t0ber, A. d. 1892, for which interest cou on' IN
proper form shall be attached to each bond,
with the signature OF the Clerk Of the city en-
gravcd thereon. The said bonds shall be sign d
by the Mayor and counterslgnrd by the Clerk
ana sealed with the seal OF said city.
SEC 2. } j. Jones, J. S. Naylor and Robert
Simpson are hereby appointed commissioners,
and empowered to sell the bonds OF the city "u-
thorized by this ordinance, at not less than
their pay value; and to perform other acts ana
duties hereinafter mentioned. PrOCded, hO0-
eger. that ueither Of sand commissioners shall
act under this ordinance until he shall have
given bond with good security, to pe approved
BY Council. in the penalty OF ten thousand dol
hrs conditioned us in the case OF official bonds.
SEC. 3 The commissioners shall proceed with
out ayoidab,e delay, TO sell such bonds 10 the
highest biGder. Cor cash, and at not less 'han
their par value. conforming IN all things 20 the
provisions OF chapter l4l, Ac's or 1878 OF the
Legislature OF west Virginia as ldf us lhe shiAe
is applicable.
SIC. 4. The proceeds arising from the sale
OF said boHdS shall be paid out by SAID com
misSioners to such person or persons n the
Council Of the said city shall from Inn 70
time order and direct Pr0Uided, hOueGer, that
no part thereof shall be expended for any other
purpose than IN the erection and completion or
an electric light plant within the city.
SKo 3. To secure the payment OF SAID bonds
and the puuctual payment Of tae interest there
on according TO their tenor and effect, the ke-
ceiver of tho city Of Wheeling shall pay FEB said
commissioners OF the first day OF October, one
thousand eight hundred and nlnety-tWo, ana Oh
the first day Of October eacb and every year
thereafter until such bonds and coupons SHAH
be fully paid out Of any moneys oi the CITY OF
Wheeling in his HANDS, suiicieut sum 70 pay
The annual interest on said bonGs not re-
deemed. and In addition thereto lar sum or
eight thousand dollars; and for such suns the
Receiver shall take {. e receipt OF SAID commits
sionerS and file the same with the C!crk. The
sum necessary to pay the &nIuai inter, 81 9i
sald bonds not redeemed, AID the ,ald adJl-
ticnal sum OF eight thousand dollars, shaN De
included in the annual estimates ana levy OF the
Council.
SEC 6. Tho said commissioners shall, out Of
the moneys they receive from the Receiver I'M
der this ordnance pay the annual Interest ac
cruing OH said bonds. and after the payment Of
ne interest aa II becomes due shall On The hrst
day If October. owe thousand eight hundred
and ninety-two, and on the INST DAY OF october
n each and every year thereaiterapply the res
idue Of the moneys then remaining in their
hands to the redemption OF the outstanding
bo, IDS issued under this ordinance, at Il ratc not
greater than their par value. II said bonds cam
al their par value or less then IN such cases ne
said bonds to be redeemed shall be determined
by lot by said commissioners. who shall there
upon give no.ice 90 the holder or holders there
OF by advertisement. published Tor two weeks ~
the daily newspapers printed IN the city OK
Wheeling, Of The numbers Of the bonds to be- re-
deemed Such bonds shall cease 20 bear inter-
est from the first day OF October OF the same
year.
SEC. z. 1t shall be the duty Of the commits
sioners TO keep - true aud accurate account Of
their receipts and disbursements, and shall re-
port the same TO the Connc! annually. ana NJ
such other times as the Councll may direct
And said commissioners shall cancel as they
are redeemed and delivered 10 the clerk OF the
city, the bonds and coupons redeemed 10y them,
Mt least once in every year, and oftener II re.
uuired by the Council: and the said clerk shall
preserve the same in book TO be kept for that
SEC. 8. The bonds Issued under this ordinance
shall be exempt from municipal taxes by the
city OF Wheeling.
SEC 8. For cause the Council OF the city of
Wheeling may remove any one or more OF sald
commissioners or there successors, and ne
and their successors maXE-sICh
by giving notice in writing to the Mayor or
Clerk of said city. Any vacancy shall be hlled
by Council in Joint session. and bond shall be
required OF every new commissioner us III the
first instance.
SEC. 10 1t shall be the duty of the commits
Sioners 10 enforce each and every provision OF
TINS ordinance according 10 us true lul'ul anu
meaning. And any failure upon the part oiany
one OF the commissioners to comply with ana
perform any duty prescribed by this ordinance
Shall be deemed a forfeiture Of his bond.
SEC II. before the commissioners shall make
any sale Of said bonds they snail advertise IN
the German paper and the daily newspapers OF
the city Of Wheeling stating the time ana 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. l2. The commissioners ana their sue
cessors shall receive in the way Of compensa-
ton for their services onc-half of one pcrccntum
Of the amount disburSed by them Under this or
dinsnce I'm redemption of the bonds and the
payment OF interest on said bonds and In add
lion thereto n sum not to exceed fifty dollars
per annum for clerical services, and said com
missioners shall receive no other compensation
for their services under this ordinance.
SEC 70. This ordinance shall take effect from
and after its ratification by the qualified voters
OF the city OF Wheeling a. en- election 10 De held
on the eth day Of June 1891.
The aggregate amount OF Indebtedness or the
city Of Wheeling, issued aud authorized by the
said city and existing at this date J. 1888. 47OS4
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, ". Va.
THOMAS +. HOMER,
Clerk Of the City of Wheeling, W. Va.