Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1897-10-05

BY the said commissioners AZ soon aS pr4c-
ticable: while the remaining bonds 70 the
and five hundred dollars shall be kept and
preserved by the said commissioners In
some safe place until the I'd day of June.
ly0O, when, or as soon thereafter as posi-
bic, said bonds shall be sold as above pre-
scribed. Before the second sale of bonds
above provided for the said commission
erS shall cut off from all the bonds re-
naming In their hands after the said first
sale all the coupons representing interest
on the said bonds, accrued or TO accrue
on on before the first day of December.
1900, which coupons they shall cancel and
deliver to the Clerk of the City, who shall
paste them in book to be kept for the
property of the city.
Section 8. The bonds provided for in
TINS ordinance shall be issued only for the
First. For providing the amount of
twenty-six thousand five hundred dollars
to be applied to paying and redeeming
popular election on January 25th 1877.
Second. For providing the amount of
one hundred thousand four hundred dol
the unpaid bonds of the loan ratified by
popular election on September 18th. 1881.
Third For providing the amount of
eight hundred dollars to be applied to pay
ing and redeeming the unpaid bonds of
the loan ratified by popular election on
Fourth. For providing the amount of
thirty thousand five hundred dollars to be
apphed to paying and redeeming. the I'M
ordnance ratified by popular vote on
April 18th, 1880. and known as the Main
Street Bridge Bonds.
Fifth. For providing the amount of
eighty-two thousand dollars to be APP
piled to paying and redeeming the unpaid
bonds of the Compromise Loan" Of 1860
Sixth. For providing the amount of
twenty-five thousand two houndred dol
lars to be applied TO paying outstanding
city orders with iterest thereon.
fifteen thousand dollars to be applied to
the payment of the citys 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 over-draft of the
cial Bank.
''As soon as possible after each of the
sales of bonds hereinbefore directed. the
amount realized from said sale to the Re
ceiver of the City of Wheeling. who shall
Immediately deliver his receipt for the
amount received by him to the City Clerk
missioners. The City Receiver shall de-
vote out of the first money paid to him by
the said commissioners as above directed,
an amount not exceeding twenty-five
thousand two hundred dollars to the pay
ment of outstanding city orders with in
terest thereon, the said orders and inter-
be presented to the Receiver, together
with an order from the City Clerk for the
payment of the interest. Out of the said
first money paid to 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 exceed
ing nine thousand six hundred dollars 10
the payment of the hereinbefore mention
ed over-draft of the Board of Gas Trus-
tees the said amounts to be paid only
for the purposes specified, and upon the
presentation to the Receiver of the orders
OF the City Clerk issued from time to time
cording to law and the ordinances of the
city.
For the redemption of the outstanding
bonds issued under the said loans of 1877,
1881 and 1885, the Receiver shall pay out
of the first money paid to him to the COM
mlssioners of the said loans respectively,
such sums as Council shall direct, not ex-
ceeding twenty-six thousand five hun
cred dollars to the commissioners of the
loan of 1877, one hundred thousand four
hund1ed dollars to the commissioners of
thirty EIGHT thousand eight hundred dol
lars to the commissioners of the loan of
1888, the amounts SO paid to be used for
the payment of the outstanding bonds of
the said loans, respectively.
For the redemption of the outstanding
bonds bonds Of the said Main Street Bridge
nance ratified by popular election on
April 18th. 1890. the Receiver shall pay to
the commissioners of said loan, out of the
proceeds of the second sale of bonds here
lnbefore directed. which have been paid to
MN by the commissioners appointed by
virtue of this ordinance such sum as
Council shall direct not exceeding thirty
thousand five hundred dollars. said
amount so paid to be used for the pay.
ment Of the outstanding bonds Of the said
Main Street Bridge Bonds
For the redemption of the outstanding
bonds of the Compromise Loan ordi-
nance of 1860. the Receiver shall pay to the
20 SGj flr1Gzr of 1Trs
ceeds of the second sale of bonds herein
before directed. which have been paid to
him by the commissioners appointed by
virtue of this ordinance, such sum as
Council shall direct. not exceeding eighty
two thousand dollars said amount so paid
to be used for the payment of the out
of 1860 O''''''O -1'''''
All Of the moneys coming into the
hands of the Receiver by virtue of this
section shall be kept and accounted for
separate from all other moneys of the
Section T. There shall be annually lev
i lea by the Council of the City of Wheel
of city taxes for other purposes is made.
until all the bonds issued under the pro-
VISIONS of this ordinance are paid a di-
rect tax upon all the real estate and per-
sonal property, assessed by the said city
for taxation, whichsdirect tax shall be lev
i n7f as separate tax, and, in addition to
benefit ofthe city, and which shall be suf-
ficient. to produce in each year until and
including the year 1907. a sum sufficient
to pay the interest annually accruing upon
al :, bonds sold, and which levy
the said bonds shall be fully re-
to pay. the interest annually accruing on
such of said bonds as shall be unredeemed
and in addition thereto. to redeem in each
year thereafter. the one-twenty-fifth of
said bonds issued hereunder. The said tax
shall be collected in such manner as is or
may be provided by law and the ordi-
nances of the city, for the collection of
other taxes on real estate and personal
property. The Collector of the city shall
pay to the City Receiver on each second
Friday the total amount diane taxes "
led and assessed in pursuance of the re-
quirements Of this ordinance which shall
have heretofore been collected by him
while in his possession. and by the City
Receiver, to who the same is paid kent
and accounted for separate from all other
moneys of the city.
Section 5. The Receiver Of the city shall
on or before the 18th day of November. A.
D. 1898; and on or before the 18th day of
November in each and every year there
after, until the bonds issued hereunder
are fully paid, pay to the said commits
sioners all the moneys which shall have
heretofore been paid to him on the ac-
count of the direct tax levied in pursu-
ance of the requirements of this ordi-
nance
while the said funds remain in the
hands of the Receiver. it shall be his duty
the same deposited in some bank or banks
of the City of Wheeling at the best rate
OF interest he can obtain. which interest
shall be accounted for by him and paid