The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1897-11-27

bond and the series 10 which Il belongs,
The said bond shall be payable on or
before the LIST day OF December, A. d,
1871. at the Exchange Bank OF Wheel
ing, al Wheeling, West Virginia, With
Interest at the rate Of 4 per cent per
ennun, payable annually on the first
day OF December, 1898, and on the hrss
day of December In each year there
after. until and Including the year 1881,
al h Exchange Bank OF Wheeling, al
Wheeling, West Virginia, for which in
tefest coupons In proper form shall be
attached TO each bond, with the sigma
ture OF the clerk of the city engraved
thereon.
The said bonds shall be signed by tho
mayor, counterslgned by the clerk, and
sealed with the seal OF the city. Before
delivering any bond TO any purchaser or
purchasers, the commissioners herein
after named, or their SUCCESSORS, shall
each couutersign said bond, and 1t shall
not be considered as issued unless and
until II Is so countersigned.
1t shall be stated on the 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
dinnnce.
Neither the said bonds nor the cou-
pons thereto attached shall be subject to
taxation, under the authority of the city
OF Wheeling.
Section Q. BE 1t further ordained that
Lawrence j.. Sands, Louis i, Stifel and
u. Walker Peterson be and they hereby
are appointed commissioners, and en-
powered and instructed to sell the said
bopd, al NOT loco than THAR mar VOllp
| plus accrued interest, and in the man
ner provided In chapter 141 OF the Acts
Of 1878 of the legislature of West Viz
| gtnfa. Said bonds 10 the amount Of
four hundred and twelve thousand hvd
hundred dollars shall be sold by the said
| commissioners as soon MS 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 bonds above provided for,
the said commissioners shall cut OF
from all the bonds 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 shall cancel and de-
liver to the clerk of the city, who shall
paste them In n book to be kept for the
purpose, said book and coupons to be
The property Of The city.
Section 8, The bonds provided for In
this ordinance shall be issued only fop
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
BIZ popular election on January %, 1877.
Second. For providing the amount OF
one hundred thousand four hundred
dollars to he applied to paying and re-
deemlng the unpaid bonds Of the loan
ratified by popular election on Septem-
Der 10, 1881.
Third. For providing the amount OF
/ two hundred and thirty"eight thousand
| eight hundred dollars to be applied to
paying and redeemlng the unpaid bonds
Of the loan ratified by popular election
on May 2s, 1885. -.
Fourth. For providing the amount OF
thirty thousand five hundred dollars to
be applied to paying and redeeming the
| unpaid bonds provided for by the loan
ordinance ratified by popular election
on April 10. 1890, and known as the
"Mnln Street Bridge Bonds"
Fifth. For providing the amount OF
eighty-two thousand dollars to be APP
plled to paying and redeeming the un-
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
| Inc 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 the
Board OF Gas Trustees on the CONNER
clal Bank.
AS soon as possible after each Of the
| sales of bonds h~crelnbefore directed, the
said commissioners shall pay the whole
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 u duplicate receipt TO the said
| commissioners. The city receiver shall
devote out Of the first money paid to
him by the said commissioners as above
directed, an amount not exceeding
twenty-five thousand two hundred dol
lars to the payment Of outstanding city
orders with interest thereon, the said
| orders and interest TO be paid only when
| the orders shalt be presented to the re-
| cclver. together with an order from the
| city clerk for the payment Of the inter-
est. out of the said first money paid
to him, the receiver shall devote nm
amount not exceeding fifteen thousand
dollars to the payment Of the unbonded
indebtedness on the Main street stone
| bridge. and an amount not exceeding
nine thousand six hundred dollars TO
the payment Of the herelnbefore men
toned overdraft of the board Of gas
trustees; the said amount to be paid
| only for the purposes specified, and upon
the presentation 10 the receiver OF thd
orders Of the city clerk issued from
time to time by direction Of the city
council according to law and the ordl-
nnnces 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 commissioners Of the said loans
respectively such sums az council shall
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