The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1897-11-13

1 - ~ shNeN - al 9EAAEa W.
Bonds from 1878" to 1898" inclusive,
90 be known as Series X"
Bonds from 's9l' to 1914" inclusive,
TO be known as Series Y"
On the face OF each OF said bonds shall
be distinctly marked the number OF said
bond and the series 70 which II belongs.
The said bond shall be payable on or
before the LIST day OF December A. ID.
1881, at tho Exchange Bank OF Wheel
Ing, at Wheeling, West Virginia, with
lntereSt at the rate OF per cent per
annum, payable annually on the first
day OF December, 1888, and on the first
day OF December In each year there-
after, until and including the year 1881,
at the Exchange Bank OF Wheeling, at
Wheeling West Virginia, for which in
terest coupons in proper form shall be
attached 10 each bond, with the sigma
ture Of tho clerk OF the city engraved
| thereon.
The said bonds shall be signed by thu
] mayor, counterslgned by the clerk, and
sealed with the seal OF the o!ty. Before
delivering any bond TO any purchaser or
purchasers, the commissioners herein-
after named, or their successors, shall
each countersign said bond, and II shall
not be considered as issued unless and
until II ID so counterslgned.
1t shall be stated on tho face OF each
OF said bonds that the city expressly re-
serves the right to redeem said bonds
according to the provisions OF this or
dlnance.
Neither the said bonds nor the cou.
pons thereto attached shall be subject TO
taxation, under the authority OF the city
OF Wheeling
Section .. BE It further ordained that
Lawrence f. Sands, Louis +. Stifel and
B. Walker Peterson be and they hereby
are appointed commissioners, and ems
powered and instructed TO sell the said
bonds at not less than their par, value,
plus accrued interest, and IN the mau-
ner provided in chapter al OF the Acta
of 1878 OF the legislature OF West Ylr-
glnla. Said bonds to the amount OF
four hundred and twelve thousand five
hundred dollars shall be sold by the said
commissioners as soon as practicable.
while the remaining bonds 10 the
amount OF one hundred and twelve
thousand five hundred dollars shall be
kept and preserved by the said commits
sloners in some safe place until the first
day OF June, 1900, when. or as soon
thereafter as possible, said bonds shall
be sold as above described Before the
second sale Of bends above provided for.
the said commissioners shall cut of
from all the bends remaining In their
hands after the said first sale. all the
coupons representing interest on the
said bonds accrued or 10 accrue on or
before the first day Of December. 1899,
which coupons they shell cancel and de-
liver to the clerk OF the city. who shall
N In, N hanlF tn No EnFk fAfsN cha
purpose said book and coupons 10 be
the property Of the city.
Section 3. The bonds provided for in
this ordinance shall be issued only for
the following purposes:
First For providing the amount OF
twenty-six thousand five hundred dol
lars TO be applied to paying and redeem
Ing the unpaid bonds OF the loan ratified
by popular election on January %, 1877
Second. For providing the amount Of
one hundred thousand four hundred
dollars to be applied TO paying and re-
deeming the unpaid bonds of tho loan
ratified by popular election on Septem-
Der is, 1881.
Third. For providing the amount OF
two hundred and thirty-eight thousand
eight hundred dollars to be applied TO
paying and redeeming the unpaid bends
OF the loan ratified by popular election
on May 2S. 1885.
Fourth. For providing the amount OF
thirty thousand five hundred dollars 10
be applied to paying and redeeming the
unpaid bonds provided for by the loan
ordinance ratified by popular election
on April 15. 1890. and known na the
MAIN Street Bridge Bonds"
Fifth. For providing the amount of
elEhty-two thousand dollars to be APP
piled to paying and redeeming the I'M
paid bonds OF the Compromise Loan"
OF 1860.
Skies. For providing the amount OF
twenty-five thousand two hundred dol
lars to be applied to paying outstanding
city orders with interest thereon.
Seventh. For providing the amount of
fifteen thousand dollars to be applied to
the payment Of the clty's unbonded In
debtednesS on the Main Street Stone
Bridge
Eighth. For providing the amount OF
nine thousand six hundred dollars to be
applied to paying the overdraft OF tho
Board Of Gas Trustees on the CONNER
cial Bank.
As soon as possible after each OF the
sales OF bonds hereinbefore directed. the
hdlu NulilIlllHlAOltlb bHhll pay Tue Wllult
amount realized from said sale to the
receiver OF the city OF Wheeling, who
shall Immediately deliver his receipt for
the amount received by him to the city
clerk, and duplicate receipt TO the said
commissioners The city receiver shall
devote out OF the first money paid 10
him by the said commissioners as above
directed. an amour: not exceeding
twenty-five thousand two hundred dol
lars TO the payment Of outstanding city
orders with interest thereon tho said
orders and interest to be paid only when
the orders shall be presented TO the re-
celvcr. together with an order from the
city clerk for the payment OF the inter-
est out of the said first money paid
10 him. the receiver shall devote an
amount not exceeding fifteen thousand
dollars TO the payment Of the unbonded
Indebtedness on the Main street stone
bridge. and an amount not exceeding
nlne thousand six hundred dollars to
the payment OF the herelnbefore men
toned overdraft OF tho board of gas
trustees: the snid amount 10 be paid
only for the purposes specified, and upon
the presentation to the receiver of thu
orders Of the city clerk issued from
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