Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1891-06-13
5te4u ADVERTISEMENTS.
PROCLAMATION!

ance with the provisions OF an act of the Legis
ture Of West Virginia. in such case made and
provided announce and pubis IN that the Follow
ing ordinance was duly passed according TO law
at "A gnar 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 0U0.
Said sum to be used and expended for the fol-
low ng 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 "A special election to be held on the
27rHDAY OF JUNE, A. d. 1891,
the qualified voters OF the city OF Wheeling
shall vote upon the question OF the ratlh :atlon
or rejection OF the ordinance aforesaid which
ordinance is in the words and figures following,
to wit:
AN ORDINANCE
Authorizing the issue and sale OF Bonds of the
CITY of Wheeling and the Application OF the
Proceeds to the Erection and Completion OF
an Electric Light Plant within the City OF
Wheeling
Be II Ordained By the Council Of the city Of
WheeliR0, as 10 tours:
SECTION |. The Mayor and Clerk OF the city Of
Wheeling are hereby authorized and d rested To
make and deliver to the commissioners herein
after named. bonds OF the city to the amount OF
eighty thousand dollars. to pay for the erection
and completion of an electric light plant with
III said city, which bonds shall be of the follow
Ing denominations. viz: One hundred OF said
bonds shall be of the denomination OF one hun
dred dollars each; one hundred OF the denom-
ination OF five hundred dollars each, and the
rrsidue OF the denomination OF one thousand
dollars each; and shall be made payable on or
before the first day of October. A. ID one thou
sand nine hundred and one N the Bank OF the
Ohio Valley in the city Of Wheeling, and shall
bear interest at the rate of six per cent. per an
4 l.. .at nd han la Hr-
payment OF interest to be on the first day OF Oc
tober A. ID. 1892, for which interest cou ons in
proper form shall be attached to each bond
with the signature OF the Clerk OF the city en-
grayed thereon The said bonds shall be sign
bv the Mayor and counterslgned by the Clerk,
and sealed with the seal OF said city.
SEC = 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 menti med. Proudtd, ho10-
eUer, that neither OF sad 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 case OF official bonds
SEC 8 The commissioners shall proceed with
out avoidable delay, to sell such bon ds TO the
highest bidders for cash, and at not less Than
their par value, conforming in all things to the
provisions OF chapter l4l, Acts OF 1872 OF the
Legislature OF West Virginia as far as the same
is applicable.
SEC. 4. The proceeds arising from the sale
Of said bonds shall be paid out by said COM
missioners to such person or persons as the
Council OF the said city shall from time to
time order and direct Prorided, hoUeUeT, 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.
SIC s. To secure the payment OF said bonds
and the punctual payment Of the interest there
on according to their tenor and effect, the Re
ceiver 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 day Of october each and every year
thereafter until such bonds and coupons shall
be fully paid. out OF any moneys or the City OF
Wheeling in his hands, a sufficient sum to pay
the annual interest on 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 file the same with the Clerk. The
sum necessary to pay the annual interest on
said bonds not redeemed, and the said addi-
tional sum OF eight thousand dollars, shall be
included in the annual estimates ana levy OF the
Council
SIC q The said commissioners shall, out of
the moneys they receive from the Receiver un-
der this ordinance, pay the annual interest &C
cruing on said bonds, and after the payment OF
the interest as il becomes due shall. on the first
day of October. one thousand eight hundred
and ninety.two, and on the first day of October
in each and every year thereafter apply the res
idue OF the moneys then remaining in their
hands to the redemption OF the outstanding
bonds issued under this ordinance, at a rate not
greater than their par value. IL 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 by said commissioners. who shall there.
uDon give notice to the holder or holders there
OF bv advertisement, published for two weeks in
the daily newspapers printe6 In the city OF
Wheeling, OF the numbers OF the ponds 10 be re-
hall gnn 80 n h..r
est from the first day OF October Of the same
year.
SEC T. 1t shall be the duty OF the commits
sioners TO keep true and accurate account OF
their receipts and disbursements, and shall re-
port the same to the Conncil annually. and at
such other times as the Council 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 said clerk shall
preserve The same in = book to be kept for that
purpose.
SEC. g. 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
commissio or their successors, and the
commissioners and their successors may resign
by giving nrtice in writing to the Mayor or
Clerk OF said city. ANY vacancy shall b. filed
by Council in JOINT session, and bond shall be
required OF every new commissioner rs in the
first instance.
SEC. 10 II shall be the duty OF the commits
sioners 10 enforce each and every provision of
this ordinance according 10 its true intent ana
meaning And sDy failure upon the part fanny
one Of the commissioners to comply with and
perform any duty prescribed ny this ordinance
shall be deemed forfeiture OF his bond.
SIC II. Before the 'Ommi sSioners shall make
any sale OF said onds they shall advertise in
the German paper and the daily newspapers OF
the city of Wheeling, stating the time aDd 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 aDportionment pro rata
among those bidding the highest price
SEC ~ The commissioners and their sue
cessors shall receive in thu way OF compensa-
ton for their services one half OF one pcrrentum
OF the amount disbursed by them under this or
dinance in redemption OF the bonds and the
payment OF interest on said bonds. AM III addl-
ton thereto a sum not ~ exceed NIFTY DOL ars
per annum for clerical services, and said COM
missioners shall receive no other compensation
for their services under this ordinance
SEC 49, This ordinance shall take effect nom
and after its ratification by the qualified voters
of the city OF Wheeling at an election to be held
on the 9th day of June. 1891
The aggregate amount OF indebtedness or the
CITY OF Wheeling, issued and authorized by the
said CITY and existing at this date is $3.50 40 81
This includes the Main Street Bridge bonds.
Given under my hand this 18th day OF June,
1901 ,,o,r
Mayor OF the CITY Of Wheeling, w. Va.
THOMAS +. 1HoNER,
Clerk of the City OF Wheeling, WA.
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