Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1895-07-05

the Ist day of August. 1896 and on the 1sr
| day OF August in each and every year
| thereafter, until the bonds issued hereun-
( der are fully paid, they shall Apply tile
! money coming into their hands TOR the
purpose 90 the payment of the outstand-
Ing bonds issuec hereunder at rate NOT
! greater than their par value.
/ The bonds 10 be redeemed shall be de-
| termined by lot by the Commissioners IN
! nuGlly on the 18th day Of July. 1870, ana on
the l5th day Of July in each year thereaf~
! ter, until the bonds issued hereunder are
! fully paid, and the said Commissioners
shall thereupon Immediately give notlce
! to the holders thereof by advertisement
! published daily Sundays excepted, LOT
two weeks i'm the daily newspapers print
ed IN the City OF Wheeling, stating tne
number Of bonds 10 he redeemed ana th3s
the same Will be redeemed at Said pdllia,
on and after the LIST day of August, 1870,
next succeeding, and VIII cease TO bear
interest from said day; and the said bonds
shall cease to bear interest from the nrst
day Of the next month after the compile
ton of such publication.
II is provided, however that If the hold
ers Of all the bonds so drawn by lot, sinai.
be known by the said Commissioners the
said Commissioners may give actual
notice in writing TO such holders within
ten days after such drawing. which notice
shall be the same as that herein otherwise
required to be published, and such actual
notice shall have the same effect as II IL
! had been published in the manner herein
| before set forth
II shall be stated on the face OF said
bonds that they are any OF them, liable TO
redemption at their par value on and at
any time after the LIST day Of August, y.
ID. 1861
The city OF Wheeling hereby pledges
and obi gates itself to pay each and every
year after the year 1904, and until said
bonds are fully paid OF, the one-twenty-
nth OF all OF said bonds NOT p8id OIL be-
fore the lst day of August, 4. u. 1900.
Sec. Z. 1t shall he the duty Of the said
Commissioners TO cancel, as they are re-
deemed, the bonds and coupons paid by
them. and they shall. on or before the
first day Of every year. and Oftener, II re-
qurcd by Council, deliver 10 the Clerk OF
the City. all redeemed and cancelled
bonds and coupons in their hands, and the
Clerk shall preserve the same in book
to be provided for that purpose.
Sec. s. It shall be the duty OF the Com
m!ssioners 10 keep a true account Of their
receipts and disbursements and report
the same 20 Council annually In the
month of June. and at such other time as
Council shall order
See. 9. The Council Of said City may. for
cause. remove any one or more of the said
Commissioners, or their successors. and
the Commissioners. or their successors,
may resign, by notice given in writing 10
the Mayor or Cerk of the City. Any va
cancy shall be filled by Council in joint
session.
Sec. TO- No person shall act as Commits
sOner under this ordinance until after he
shall have given bond, with good security.
approved by the Council, In the penalty of
ten thousand dollars. which bond shall Zee
payable TO the City Of Wheeling, and shall
be conditioned 10 the following effect:
The condition OF the above obligation is
such that whereas the above bound---
has been duly appointed q Commissioners
under an ordinance of the City Of Wheel
Ing entitled An ordinance 10 provide for
L. . III %
Wheeling 20 be known as Bonds Of 1898.
and for the redemption and payment
thereof passed the 18th day of June, 1895,
and has accepted the said appointment;
now therefore, If the said during
his continuance as such Commissioner
shall, in all things, faithfully and dill
gently discharge his duties as such Com
missioner and shall well and truly ac-
count and pay over TO such person or per-
sons as may be entitled to receive the
same, all moneys which shall come into
his hands, or under his control as said
Commissioner, then shall the foregoing
obligation be void, otherwise to remain in
Sec. il. 1t shall he the duty Of the Com
mssiOuers to enforce each and every pro-
vision Of this ordinance 0n relation to
their dUties) according TO its true intent
and meaning. and any failure Of any one
OF the Commissioners to comply with or
perform any duty prescribed by this ordi-
nance shall be deemed violation OF the
See. r. Before the Commissioners shall
make any sale of said bonds they shall
advertise for at least four weeks In the
daily newspapers published I'm the City Of
Wheeling, giving the time when and the
place where In said city, they Will receive
bids I'm writing for said bonds.
Should the bids exceed the amount Of
bonds to he issued, the bonds shall be ap-
pOrtionod ny the Commissioners among
those bidding the highest price
Sec 49, The Commissioners shall receive
a compensation for their services one
fourth of one per cent. on the amount dis
hurscd by them under this ordinance in
the redemption of bonds issued hereunder.
and the payment OF interest on such
bonds, and no more.
Such compensation shall be I'm fun for
all services Of every description rendered
bv or required of the Commissioners. or
any Of them. under this ordinance, and no
extra pay for clerical or other services
shall be allowed, exceeding fifty dollars
Der annum, sucn commission shall be only
charged ON the amount of money furnish
ed the Commissioners for the redemption
of the bonds under this ordinance. and
payment Of interest thereon. and not on
bonds or the amount Of any bonds recciv-
cd in exchange for the bonds issued under
this ordinance.
Sec. Il. Should the date Of any of the
payments mentioned in this ordinance fall
upon q Sunday, such payment shall DE
made upon q Saturday next preccIing
Sec i5 This ordinance shall take effect
from and after is ratification by the quail
fled voters Of the City of Wheeling. al an
election 10 be held on the 2Oth dag Of July,