Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1895-07-06

the LIST day of August, 1896 and on the LIST
day of August in each and every year
thereafter, until the bonds issued hereuh-
der are fully paid, they shall Apply tne
money coming into their hands for the
purpose, TO the payment of the outstand-
ing bonds issued hereunder at a rate not
greater than their par value.
The bonds 10 be redeemed shau ne te'
termned by lot by the Commissioners an
nually on the 18TH day Of July. 1870, ana on
the 18th day of July IN each year tnerea1-
ter, until the bonds issued hereunder ar
fully paid, and the said CommlssloleIs
shall thereupon Immediately give notice
TO the holders thereof by advertisements
published daily, Sundays excepted loi
two weeks in the daily newspapers print
ed in tho City or Wheeling stating inc
number OF bonds TO be redeemed ana tna-
the same viii be redeemed al said bank,
on and after the LIST day of August, 1900,
next succeeding, ana VIII cease TO pear
interest from SAID day; and the SAID Dolus
shall cease TO bear interest from the lirst
day of the next month after the compile
ton of such publication
IL is provided. however. that If the hold
ers of al the bonds so drawn by lot, shall!
be known by the said Commissioners the
said Commissioners may give actual
notice ia writing 10 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 II
had been published in the manner herein
before set forth.
1t shall be stated on the face OF said
bonds that they are any OF them, liable 10
redemption al their par value on ana al
any time after the 1st day OF August a.
u. 1906.
The city Of Wheeling hereby pledges
and Obligates itself 20 pay each and every
year after the year 1904, and until said
bonds are fully paid off, the one-t"enty-
nth of all OF said bonds not paid cfI be-
fore the LIST day of August, a. -. 1903.
Sec. T. 1T shall be 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 Ottener, II re-
CURED by Council deliver 10 the Clerk Of
the City. all redeemed and cancelled
bonds and coupons in their hands, ana the
Clerk shall preserve the same in q book
to DE provided for that purpose.
see. S. 10 shall be The duty of the Com
misSiOners to keep a true account OF their
receipts and disbursements, and report
the same TO Council annually In the
month Of June, and at such other time al
Council shall order.
Sec. O. 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 successor.
may resign, by notice given IN writing to
tho Mayor or Cerk of the city. ANY va
cancy shall be filled by Council in joint
session
Sec. TO- No person shall act as Commis-
soner under this ordinance until after he
shall have given bond, with good security.
approved by the Council, i'm the penalty of
ten thousand dollars, which bond shall he
payable TO the City Of Wheeling. and shall
lie conditioned 10 the following effect:
"The condition Of the above obligation is
such that whereas the above bound
has been duly appointed q Commissioner
under an ordinance Of the City OF Wheel
d 4 "
the issue and sale OF bonds Of the City Of
Wheeling, 10 be known as Bonds Of 1898.
and for the redemption and payment
thereof passed the 18th day of June, 1875,
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 am truly nc
count and pay over 10 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
ohligation be void. otherwise TO remain i'm
fun force and virtue"
See II. It shall he the duty of the Com
missOnerS 10 enforce each ana every pro-
vision Of this ordinance Din relation to
their duties according 10 it's true intent
and meaning. and any failure of any one
of the Commissioners 10 comply with or
perform any duty prescribed by this ordi-
nance. shall be deemed a violation of the
condition of his bond.
sec. T. Before the Commissioners shall
make any sale OF said bonds, they shall
advertise for al least four weeks i'm the
daily newspapers published IN the City of
Wheeling, giving the time when and the
place where I'm said CITY they viii receive
bids in writing for said bonds
Should the bids exceed 1he amount Of
bonds TO be issued, the bonds shall be ap-
portioned by the Commissioners among
those bidding the highest price.
Sec. 10. The Commissioners shall receive
q COMPENSATION for their services one
fourth of one per cent on the amount dis
bursed 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 in full for
all services of every description rendered
by 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
per annum, sUch commission shall be only
charged on the amount of money furnish
ed the Commissioners for the redemption
Of the bonds under this ordinance. and
navment of interest thereon. and NOT on
money received from the sale Of said
bonds or the amount OF any bonds re.alE-
cd i'm exchange for the bonds issued under
Sec. H. Should the date Of any of The
pavmentS mentioned in this ordinance lal
upon a Sunday, such paymen. shaA DE
made upon Saturday next preceding.
Sec. Is. This ordinance shall axe ehect
from and after its ratification by the quail
flied voters Of the City of Wheeling, at an
election TO be held on the 20lh day Of July,
a59j.
The aggregate amount OF the inlde6tednles5
OF the city OF Wheeling issued ana authorized
bv the said city and existing at this date IS
500, SGL66.
f,i,.op ,,nIer ma, hand This 1st day OF July.