Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1895-07-10

the LIST day of August, 1896, and on the ISL
day of August in each and every year
thereafter, until the bonds issued hereuh-
der are fully paid, they shall Apply ne
money coming into their hands for the
purpose, 20 the payment Of the outstauu-
ing bonds issued hereunder at rate not
greater than their par value.
The bonds to be redeemed shall be de-
termned by lot by the Commissioners an
nually on the 18th day of July, l9uo' ana on
the 18th day of July in each year tnereal-
ter, until the bonds issued hereunder are
fully paid, and the said Commissioners
shall thereupon Immediately give nouce
to the holders thereof by advertisement
published daily, Sundays eXcepted, lot
two weeks in the daily newspapers print
ed in the City of Wheeling, stating the
number of bonds to be redeemed and thaf
the same Will be redeemed at said BANK,
on and after the 1st day of August 1900
next succeeding, and viii cease 10 bear
interest from SAID day. and the said DOIIs
shall cease TO bear interest from the first
day of the next month after the compile
ton of such publication
IL is provided, however, that if the hold
erS of all the bonds SO drawn by lot, shall
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
| snail Doe the same as that herein otherwise
required TO be published. and such actual
notice shall have the same effect as If IL
had been published in the manner herein
| before set forth.
IL 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, A.
ID. 1906.
The City of Wheeling hereby pledges
and obligates itself to pay each and every
year after the year 1904 and-until said
| bonds are fully paid Off, the one-tweuty-
illth OF all Of said bonds not paid of, on be-
! fore the lst day of August \. j.. 1893.
Sec. Z. II shall be the duty Of the said
Commissioners 10 cancel. as they are re-
| deemed, the bonds and coupons paid by
them, and. they shall, on or before the
| llrSt day of every year, and Oftener, II re-
| quireC by Council, deliver 10 the Clerk Of
the City. all redeemed and cancelled
! bonds and coupons i'm their hands. and the
| Clerk shall preserve the same in a book
TO be provided for that purpose.
Sec. s. ID shall De the duty of the Com
mlSSlOners TO keep 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. @. 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 TO
the Mayor or Cerl of the City. ANY va
cancy shall be filled by Council in joint
session.
Sec. 10. No person shall act as Commis-
sloner under this ordinance until after Doc
Shali have given bond. with good security.
approved 10y the Council, in the penalty of
ten thousand dollars. which bond shall be
payable 10 the City Of Wheeling and shall
be conditioned TO the following effect
"Ihe condition of the above obligation is
such That whereas the above bound
has been duly appointed a Commissioner
under an ordinance of the city of Wheel
ing entitled An ordinance TO provide for
| the issue and sale 81 bonds of the City Of
wheeling, to be known as Bonds of 1890
a q bal N..vaa
thereof passed the 9th day of June. 1850
and has accepted the said appointment;
| now therefore. IL the said during
ms continuance as such Commissioner
shall, in all things faithfully ana 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
! fun force and virtue"
Sec II. il shall he the duty Of the Com
missioners TO enforce each and every pro-
vision Of this ordinance 0n relation 10
their duties) according to its 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 Il violation OF the
condition Of his bond
Sec. r. Before the Commissioners shall
make any sale of said BONDS they shah
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 i'm said city, they will receive
bids i'm writing Tor said bonds.
Should the bids exceed the amount Of
| bonds TO be issued, the bonds shall be APP
portioned by the Commissioners among
those bidding the highest price
Sec. 10. The Commissioners shall receive
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 he In fun 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
payment Of interest thereon. and not ON
| money received from the sale Of said
bonds or the amount of any bonds rec.Iy-
ed in exchange for the bonds issued under
this ordinance.
Sec II. Should the date Of any of the
payments mentioned in this ordinance fan
/ upon a Sunday, such payment shall DE
made upon a Saturday next preceding.
Sec. II. This ordinance shall take effect
from and after its ratification by the quail
flied voters Of the City Of Wheehls. az an
election 10 be held on the Goth day OF July,
1885.
The aggregate amount OF the indebtedness
of the city of Wheeling issued ana authorized
by he said city and existing al TINS date Is
! 500. s61.66.
Given under my hand this LIST day OF July,
a. ID. 1895.
B. +. CALDWELL,
III