The Fairmont West Virginian. (Fairmont, W. Va.) 1904-1914, 1905-04-01
IPElRlOgLAIIAEfiONI

LlAAStlNlN AaikU' SiltttllktilVlASll
IN e P re slpEN OF mel
I. 9 YARD o Ed cATi FOR \ il
SscA oo l.s Bo Ds. N N. a n
Yhereas i a ii meeting Of the Board
ofSEducatio nSo Of the independent Dis
,trlet Of Fairnont, all the Il members
having due notice and being present,
on the S1Sthsday OF March, S05: a
d On motion twas unanimously or
dered, that I W. H Il \ d
sy3"Nhereas. on account of the con:
slant and rapid increase Of tho school
population In the district, and the
worn:out and inadequate character, Of
the school building. known as the
High School Building now used
tor4theS High School and tho Graded
School for the Second and Third
wards, and the lack Of room In the
Locust avenue building and the Elem.
ing school building. whistle lmmedi.
ate prospect Of necessary additions
to the Evansville and Uztown
school buildings and, for fur
niture and equipment; 1t has be.
come necessary and ;expedient to Dor,
row money to provide suitable build:
= u
ings and fixtures to adequately 'ac43
commodate the children Of tho dis.
trict, the amount from current levies
upon property assessed In the dis.
trlct! for statoSand county taxes being
insufficient; and,
Whereas, 1t is estimated Il fora tho
purposes aforesaid that 1T Will require
Iat&least $l5o,ooo0o TO purchase site
and construct and equip anew High,
School building for. the district, and
a Grammar Graded School building
for the&Fifth ward, and other school
buildings md additions In tho dis.
trict; and refund the bonds now past
dheSamountlng 10 $1l,5O0, issued the
list day OF July, 1891: and,
Whereas, the said sum Of $780,,
10000 excluding the existing bonded,
Indebtedness of said district, which is
to be paid on out Of the proceeds of
the sale Of now bonds, would not ex-.
coed five per centum3o Of the valuation;
Of all the property assessed for taxa.
ton in said district as ascertained by
the last assessment of the property
for Safe and county taxes; XII a
Upon consideration whereof, It: is
ordered blythe Board Of Education Of
the INDEPENDENT District OF Falrmont,
subject to thevote OF the people Of tho
district, 5thatthe said Board Issue and
sell bonds to the amount In tho aggre.
gate Of $150,o0O.00 for the purposes
aforesaid. s45 n
The said bonds shall be issued In
amounts of 100000, or imultlples
thereof, for sum In thefaggregate Of
100000, bearing date the first day
Of June, 1905, and payable 10 bearer
twenty years aftersd date thereof, with
Interest from date i at the rate 3of Is
per cent per annnm, payable annual,
| ", on the list day Of June; each sot
said bonds shall be numbered, and
have attached as part thereof, inter.
est coupons, for the amount OF each
interest payment, the bonds and cou:
pons to be signed by the Board of Ed;
ucation Of the independent District
Of Fairmont, by its president and see
rotary, with the new provlso In the
bonds that said Board of Education
shall have the right at any Time after
!: three years from date OF said bonds,
to- call in land pay Oft and redeem
them, or any. part Of them; and !, to
discharge itself 4 from any further
liability arising from said bonds 50
paid off and redeemed. ~ i.53s,
The plan adopted by the Board to
meet the accrulng interest on A said
bonds and Sto pay them lat maturity
Is that 1t shall be the duty OF the
Board Of Education Of said district
in the annual levy for the Building
Fund in said district, 10 provide FOL
the interest on said bonds, together
With an additional sumtto el7aparl
interest annually, sufficient, witt
I theSaccrued interest at before thu
Z expirat Jon hefterm of3twentyS years
tos}is pay OF and discharge the sail
bonds at that time; or, sat5the optic,
offthe said Board, after three year
from date got said bonds; itimay5 selec
n slotSors BY the consent of$ the hold
! er, such bonds by number in the Saf
gregate as amounts 10 the sun, a
I ready accumulated OF set apart f,aS ! an al
that may hereafter be SGT apart as
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