The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-10-24
CHE REFUND
ORDINANCE
PRESENTED
10 Special Council Committee on
Refund Of the City Debt by
Solicitor Neshitt.
ITBAYOLUMINOUS DOCUMENT
And Provides for a Refund Issue
Of 1928, oO0..Another Meet.
ing Thursday Night

The special committee Of council in
whose hands was placed the matter Of
preparing for a refund Of all that part
OF the clty's bonded Indebtedness which
may be lawfully refunded, met last
evening in the ONCE OF City Clerk
o'Brien. Those present were Mayor
Sweeney. City Clerk o'Brien, City Re-
ceiver Forgey. City Solicitor Nesbltt.
and councilmen Waterhouse, Nickel
vey, Maxwell and Chew,
The city solicitor presented the refund
ordinance, which he had been instruct
cd 70 prepare on lines outlined by the
committee at former meeting. The
document is voIumlnous one, and be-
ing Of such great Importance the mem-
bers Of the committee desired to digest
its provisions thoroughly before pass
ing upon It finally. This desire OF the
committee induced Mr., Maxwell's mo-
ton for adjournment until Thursday
evening, the ordinance In the meantime
10 appear in the papers. SO that Its
inertia may be discussed by councilmen
and public, who are both alike interest
ca In the refund, The ordinance Us re-
ported by the solicitor is as follows: :
AN toRDINANCE-To provide for the Is.
sue and sale OF bonds OF the City Of
Wheeling, to be known as refundlng
bonds OF 1889, and for the redemption
and payment thereof.
BE Il ordained by the council Of the city
Of Wheeling:
means for redeemlng and paying such OF
the bonds issued under the compromise
lean ordinance adopted on November q,
loan ordinance passed BY. council on Au-
gust o, 1881, and ratified by popular cleo
ton on August Q, 1885, such Of the bonds
Issued under the loan ORDINANCE passed by
council on May 12, 1885, and ratified by pop.
ular election on May % 1886, and such Of
the MAIN street bridge bonds" issued
under the loan ordinance passed by coun-
cll on March II. 1880, and ratified by pop
IilAr election on April Is, 1880. as are not
yet paid or provided for by funds in the
hands OF the commissioners appointed by
or under said ordinances; and for the pur-
pose Of providing means for paying OUT
ltg, with accrued Interest thereon, the
mayor and clerk Of the city Of Wheeling
are hereby authorized and instructed to
make, and on the LIST day Of December,
"A. b. 1889. or as soon thereafter us prac.
ticabie. deliver to the commissioners here
matter named and appointed. the bonds
Of the city of Wheeling, dated the list day
Of December, A. p. 1889. for an amount ag-
ffegating four hundred and twenty-five
thousand dollars, which bonds shall be Of
the following denominations: Two hum
dred Of said bonds shan Pc o. the qenom-
bered from II" to 200" inclusive: three
hundred and six Of said bonds shall be Of
the denomination Of iiys hundred dollars
iive; and two hundred and tifty-two OF
said bonds shall be Of the; denomination OF
one thousand dollars, and numbered from
"56T' to '76S" inclusive.
The bonds Issued under and by virtue OF
this ordinance shall DO arranged In twenty
1--WE series, each series consisting OF bonds
70 the amount Of twelve thousand and I'VE
hundred dollars except the first series,
or series A." which shall consist Of bonds
70 the amount OF one hundred and twenty
ave thousand dollars, as follows:
Bonds from to 40 inclusive TO be known
% series Al" bonds from ~ 70 ~ IN
from 1885 to 400 inclusive to be known as
series c. bonds from so to 4S5 inclusive
to be known as series d. bonds from 500
is ''serles Ell: bonds from SO to $50 In
elusive TO be known us series F;' bonds
from 631 to SO inclusive and bond isS to
b known as series g." bonds from As
as "Beries H" bonds from 6S5 to 500 In
elusive and bond 400 to be known as Series
IL bonds from 56I to 5Is inclusive and bond
491 to be known az series bonds from
5Ts to $50 inclusive and bond 4ss 70 be known
% Series K;" bonds from 69t 10 602 inclu-
aivb and bond 1913 to be known as series
L." bonds from sos to 614 inclusive and
from GIG to 626 inclusive and bond 495 70 be
Known as series NJ" bonds from 62T to
6SS inclusive and bond 496 TO be known as
ysetiss O." bonds from go TO go lnclqsiys
bonds from SSl to csc inclusive and bond
leS to be known as series o. bonds from
Ca to 614 inclusive and bond ls9 to be
known as series r." bonds. from 67b to
'GeFies 81" bonds from 6S1 to 6gS inclusive
ana bond Sol TO be known as Series IT,"
hbDdB from 500 to 10 incluHiYe and bond
b94 TO be known as series Us bonds from
N 10 ~ Inclusive and bond 500 to be known
~ "tetleB VIZ bonds from 723 to ~ lFclu-
giYe and bond 5N to be known az Series
VIZ bonds from 7S5 10 7iS inclusive and
benz @ 70 Be EnSwn as "ssrseS $ tos 5 +.
known as SERIES Y.
Be, distinctly marked the number OF said
bond and the series to which II belongs.
lie said bonds shall be payable on or Be-
tqrb the Let day Of December. AZ D. 1898,
II. Va, with interest at the rate Of 80
psr cent. per annutn. payable annually on
the 1bt day OF December, A. d. 1900, and
Sn1thS iii day OF December In each year
thereafter until and including the year 1888,
~. VA. for which interest coupons n
proper form shall be attached TO each
bond, with the signature Of the clerk OF
Tie city, Of Wheeling sngrGyed thereon.
Ts ae SSsSa sS 5S te Clerk Shd
sealed with the seal Of the city. Before
delivering any bond to any purchaser or
purchasers the commissioners hereafter
named, Or their SUCCESSORS, shall each
e6pnterslFn said bond. and II shall not be
considered as issued unless anu Until II Is
II shall be stated on the face OF each Of
said bonds that the city expressly reserves
the right TO redeem SAID bondS according
Neither the said bonds nor the coupons
thereto attached shall he subject 10 tax
alton under the authority OF tho city Of
Section ?. Be it further ordained that
they hereby are appointed commissioners,
and empowered and Instructed to sell the
said bonds nt not less than their par value
and - the manner ,S1 proyiased IN S6,Sptsr ~
Wet Virginia. Said bonds shall he sold
BY the said commissioners ms soon rs prAC-
teable after tho LIST day OF December, A.
Section The bonds provided for in this
ordinance shall bo issued only for the fol-
lowing purposes:
FirSt-:For providing the amount of
efEhty:two thousand dollarg 20 Dc applied
Of tho "compromlso loan OF 1880.
sAcond--For providing the amount Of
biBhty-four thousand and hve hundred
dollars to be applied to paying and redeem Gm
~ popular election on September 18th.
Thlrd-For providing The amount q two