The Fairmont West Virginian. (Fairmont, W. Va.) 1904-1914, 1905-02-09

Of esd pf trpst upon Inc lyorlss
systeni;s III snid city and. lg
Sstefeaa b Il special acS Nell
lsgi sIatnte oi Vest ginia pass
edSat regular ion erect f iStsI
HE eail: arted upon said j I
city, tie power issue and sell
bonds foFs said purpo Aforesaid. anasl
to secure the same BY placing q mort;
gage sor deed 81 trust upon the water
works systenlE of said therefore:
Be II ordained by the Common csoiun.
4 cil$of city Of Fairnnont
X Section q. That the said city Of
Fairmont do issue It's bonds for the
sum in the aggregate mot to exceed
one hundred and eighty thousand
dollars (s1so,OoO), which said bonds
Shall be known and designated as
.Fairmont Water Works Mortgage
Bonds the same TO be OF the denomi-
nation OF five hundred dollars, but
not, TO exceed in the aggregate the
sum aforesaid, and each Of said
bonds shall bear date the first day Of
May, 1905. and be payable to bearer
thirty years after date thereof, at
the office Of the city clerk Of said
city, with interest thereon from said
date at the rate Of five per centum
per annum, which interest, shall be
payable semi.annualiy; each OF said
bonds shall be numbered and attest.
ed by the seal OF said city, the City
Of Fairmont, affixed thereon, and
shall he signed by It's mayor and
countersigned by the city clerk. and
shall contain ID provision expressed
j therein, that the person holding said
bonds. shall mot be liable to taxation
I by the said city thereon; and that
!. said city shall by an order of Its
!, Common Council, have the right at
, any time, after the expiration of five
!. years from the date of. said bonds
and at such times as accrued interest
Z Is due and payable thereon, to call In
+ and pay OF, discharge and redeem
!. same, or any part thereof, and dis
] charge Itself from any further liza
: bllity arising from said bonds 81
J, paid on and redeemed by the pay
y ment Of the principal and interest ,du'
70
q thereon, to the date4o of the said pay
e ment, and shall contain the furthe
u provision that said city by order Of II
It Common Council shall whenever
: desires TO call in any OF the sal
$, bonds for the purpose OF payinglo
l. and redeeming them, or any pal
4. thereof, direct the water committe
n or water board of said city to dra'
II by lot from a list Of tnumbers to b
II prepared by the city CLERK. corr
e. spending TO those Of the bonds "
" at the time outstanding, and motto
81 of the fact that. such bonds hay
NJ been thus drawn and selected for r
ir demption shall be given to the hol
le ers thereof in the manner followin
-, to.wit: The city clerk shall prepal
I'd list Of such bonds as have been S
e. lected for redemption in the mannt
10 aforesaid and at least one month pri
&C. TO the next period for the payment
"a interest OH said bonds he shall eau
ut such list to be published for four (
Oil consecutive weeks iii one or mo
as newspapers Of general circulation
* said city. reciting the drawing by-l
nm Of said bonds. for redemption. and I
he tifying the holders thereof to prese
bi- said bonds for payment OF the prin
lie pal thereof and all accrued intere
4 thereon. at the office OF said cl
,n- clerk. at the next succeeding peri
ra. or time named In the coupons
ms said bonds for the payment Of int
va, est, and for the notifying said holdt
las Of said bonds thus selected for
icy demption that interest on said bor
~ | VIII SChSC lct WHICH, ahtu
ow and notice when published as afo
un. said shall be equivalent to persol
ars service on any holder or holders
sad bonds so selected TO be redet
all ed; and the interest on said boz
ais shall at the next succeeding per
ich for the payment thereof thercat
81
I'd, cease.
81. Said bonds shall contain the furt
eel' provision, that all OF said bonds
u 'A equally secured by certain first nj
ess' gage or deed Of trust upon the WI
corre works. and water works system
u said city, which said mortgage
age deed Of trust shall be sufficiently
. scribed in said bonds for identil
"A ton. and that said bonds are ISIS
= and held subject to the provisi
"a terms, and conditions set forth
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