Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1897-11-13
REFuNplNG ORDINANCE.

preserved by the said commissioners in
1900, when. or as soon thereafter as possi-
BILE, said bonds shall be sold as above pre-
scribed. Before the second sale OF bonds
above provided for the said commission
ers shah cut of 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 70 accrue
on or before the first day OF December.
1889, which coupons they snail cancel and
deliver to the Clerk Of the, City. VINO shaI
paste than in a book to be kept for tne
purpose. said book ana coupons 10 be the
property Of the city.
Section 8. 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 dollars
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 10 be applied to paying and redeemin s
the unpaid bonds of the loan rauied by
popular election on September 18th, 1881. !.
two hundred and thirty-eight thousand
eight hundred dollars to be applied TO pay
ing and edeeming the unpaid bonds OF
the loan ratified by popular election on
Fourth. For providing the amount of
thirty thousand i've hundred dollars 10 oa
paid bonds provided fer by the loan
ordinance ratified by popular election on
April 18th. 1890 and known as the Main
Street Bridge Bonds
Fifth For providing the amount OF
eighty-two thousand dollars 10 be ap,
pied 10 paying and reoeemlng the unpaid
bonds Of the Compromise Loan OF looo,
Sixth For providing the amount OF
twenty-five thousand TWO hundred COL
lars to be applied TO paying OUTSTANDING
city oreers WITH .nteTest thereon, IL
Seventh. For providing the amount or
fifteen thousand dollars 70 be applied 10
the payment of the city's unbonde6 IN
debtedness on the Main Street Stone
Bridge.
Eighth. For providing the amount Of
nine thousand six hundred dollars TO be
applied 20 paying the over-draft OF the
Board OF Gas Trustees on the CONNER
cial Bank.
""As 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,
ceiver of the City OF Wheeling, who shall
Immediately deliver his receipt for the
amount received by him to the City Clerk
and a 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 SHAH
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 70
the payment of the herenbefore mention
ed over-draft of the Board OF Gas TTus-
tees; the said amounts TO be PAID only
for the purposes speclhed, ana upon the
presentation to the Receiver OF the orders
of the City Clerk issued from time to time
by the direction of the City Council ac-
cording 10 law and the ordinances OF the
city:
bonds issued under the said loans of 1917,
1881 and 1885, the Receiver shall pay out
of the first money paid TO him to the com
missioners of the said loans respectively,
such sums as Council shall direct, not ex-
ceeding twenty-siX thousand five nun
dred dollars to the commissioners OF the
loan of 1877, one hundred thousand four
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 ne useq tor
the payment of the outstanding bonds or
the said loans. respectively
bonds Of the said Main Street Bridge
Bonds provided for by the loan ordl-
nance ratified by popular ELECTION on
the commissioners of said loan, out Of the
proceeds of the second sale OF bonds mere
inbefore directed, which have been paid to
him by the commissioners appointed by
Council shan uf-rct' ROO, ~
arount so paid to be used for the pay,
ment of the out stanoing bonds OF the sald
Main Street Bridge Bonds. ...4.s;r,,.
For the redemption OF the outstanolnS
bonds of the Compromise Loan orQl-
nance of 1860 the Receiver shall pay TO the
commissioners Of said loan out o. me pro
ceeds of the second sale of bonds hereln-
before directed, when have been PAID 10
him by the commissioners appointed py
virtue of this ordinance, sucn sum as
~ ali -Iolt n n n 80
two thousand dollars, said amount so paio
to be used for the payment or the out,
standing bonds Of the Compromise Loan
IAN OF the moneys coming into the
hands of the Receiver by virtue OF tnls
section shall be kept and accounted lot
separate from all other moneys Oh the
"Section A. There shall be annually lev
ied 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 ali the bonds issued under the pro-
visions of this ordinance are palG, a Gil
rect tax upon all the real estate ana per-
sonal PROPERTY assessed by the SAID city
for taxation, which direct tax shall be lev
led as a separate tax, and, IN ADDITION 70
all other taxes that may be !eyled tor ne
benefit Of the city and which shah De sur
ficient to produce i'll each year until ana
inc uding the year 1886. a sum suIhcleHL
all bonds sold, and when leVy
snail. after the year 1906 Until
the said bonds shall be fully re-
deemeQ ana satisfied, pc su!hclehI
TO nav the interest annually accruing on
such Of said bonds as shall be unredeemed,
and in addition thereto. 10 redeem ~ eacn
wear thereafter. the one-iwenty- OF
said bonds issued hereunder The said tax
shall be collected in such manner as IL or
NAV be provided by law and the ordt-
rances of the city. for the collection OF
ofher taxes on real estate and personal
rrOperty The Collector OF the city snail
nav to the City Receiver on each second
FRIDAY the total amount OF the taxes lev
led and assessed in pursuance or the re-
nmirements Of this ordinance which shall
nave therefore been collected by him.
The said tax shall be. by the Collector
while in his possession, and by the City
P.reiyer 10 unom me same Is pald, kept
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.
November in each and every year there
after, until the bonds issued hereunder
are fully paid, pay 10 the said commits
sioners ali the moneys which shall have
heretofore been paid 70 him on the &C
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. Ii 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
principal Of the funds derived from said
tax. The receipt Of the said commission