Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1897-11-27
REFuNDlNc ORDINANCE.


ers shall cut on from all the bonds re-
manning IN their hands after the said first
on the said bonds. accrued or to accrue
on on before the first day Of December,
1879. which coupons they shall cancel and
paste them in book to be Kept for the
purpose, said book and coupons to be the
properly Of the city.
this ordinance shall be issued only for the
following purposes:
First. For providing the amount, Of
to be applied to paying and redeeming
the unpaid bonds of the loan ratified by
popular ELECTION on January 18th. 1871.
second. For providing the amount OF
one hundred thousand four hundred dol
lars to be applied to paying and redeeming
the nlnpaid bonds Of the loan ra,ied by
two hundred and thirty-eight thousand
ing and redeeming the unpaid bonds of
the Loan ga ratified by popular election on
Fourth. For providing the amount of
thirty thousand five hundred dollars to be
applied TO paying and redeeming the I'M
pala ponds PROVIDED for by the loan
ordnance ratified by popular election 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 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 citys unbonded in
debtedness on the Main Street Stone
Eighth For providing the amount of
| nine. thousand six hundred dollars TO be
| applied to paying the over-draft of the
| cial Bank.
las soon as possible after each of the
| sales OF bonds hereinbefore directed, the
said commissioners shall pay the whole
| amount realized from said sale to the Re-
| ceiyer of the City of Wheeling, who shall
| Immediately deliver his receipt for the
amount received by him to the City, Clerk
and q duplicate receipt to the said COM
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-
| est to be paid only when the orders shall
| 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
4 of the City Clerk issued from time to time
| by the direction of the City Council ac-
| cording to law and the ordinances of the
| 'iFor the redemption of the outstanding
| bonds issued under the said loans OF 1871,
| 1881 and 1885, the Receiver shall pay out
of the first money paid to him to the com
mis- Ci Of 10 CO..
| such sums as Council shall direct, not eX-
| ceeding twenty-six thousand five hum
dred dollars to the commissioners Of the
| hundred dollars to the commissioners of
| the loan of 1881, and two hundred ana
| thirty eight thousand eight hundred dol
| lars to the commissioners of the loan OF
| 1885, the amounts so paid to be used Tor
| the payment Of the outstanding bonds OF
.sFo tr the redemption of the outstanding
, bonds of the said Main Street Bridge
! Bonds provided for by, the loan ordi-
| April 18th, 1890, the Receiver shall pay to
! the commissioners of said loan, out of the
! proceeds of the second sale of bonds here
| inbefore directed, which have been paid to
| him 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,
| bonds of the Compromise Loan ordt-
nance of 1860 the Receiver shall pay to the
commissioners of said loan out of the pro-
! 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
! standing bonds of the Compromise Loan
An of the moneys coming into the
! hands of the Receiver by virtue OF TINS
| section shall be kept and accounted for
separate from all other moneys of the
'Section a. There shall be annually lev
! led by the Council of the City of Wheel
| ing at the same time that the annual levy
! of city taxes for other purposes Is made,
| until all the bonds issued under the pro-
| visions of this ordinance are paid, di-
| rect tax upon ali the real estate and per-
! sonal property assessed by the said city
| for taxation, which direct tax shall be lev
! all other taxes that may be levied for the
| benefit of the city, and which shall be sui,
| ficient to produce in each year until and
| including the year 1906. a sum sufficient
to pay the interest annually accruing upon
all :, bonds sold, and wn fa6a levy
snail after the ysar E16 6,,.. until
! deemed and satisfied. be sufficient
| 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- 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 of the taxes lev
led and assessed in pursuance OF the re-
ouirements of this ordinance which shall
have therefore been collected by him.
The said tax shall be. by the Collector,
while in his possession, and by the City
Receiver, to whom the same Is paid, kept
and accounted for separate from all other
moneys of the city.
section s. The Receiver of the city shall
on or before the 18th day Of November. A:
d. 1898 and on or before the 18th day or
November in each and every year there
after, until the bonds issued hereunder
are fully paid, pay 10 the said commits
| sioners all the moneys which shall have
| Heretofore been paid to him on the ac-
| count of the direct tax levisd in pursu-
ance of the requirements of this ordi-
nance.
hands of the Receiver it shall be his duty
under the direction of the Council, to keep
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
| over into the general treasury. upon max
| ing payment to the commissioners OF the
| nriucinaI of the funds derived from said
| tax. The receipt of the said commission
ers for the said moneys shall be filed by
the receiver with the Clerk OF the city,
and shall be preserved by MIN.
'tSection g. The said commissioners, out
| of the moneys received by them under
| this ordinance, shall pay the coupons is
sued with said bonds as they become due.
| the first day of December In each and
IN the first day of December In each and