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

sHs-I '
Continued From Fourth Pase.)
amount of money that may come into
his hands. But before proceeding to
make such sale as aforesaid, the
trustee shall publish a notice Of that,
fact in at least two newspapers in
circulation, ing said city, for at least
-four weeks, and shall likewise post
a copy thereof atthe front dor Of the
Courthouse of Marion county for a
like period Of time, stating the time,
place and terms Of sale. prior to the
day set therefor. And that after
making said sale, as aforesaid, said.
trustee shall first apply the proceeds
thereof TO the payment Of costs and
expenses Of salesincluding a commits.
sion Of two per cent. on the purchase
price to the trustee. and second. he
shall use the remainder of said pro.
iceeds as far as is necessary to the
payment of said outstanding bonds,
together with the accrued Interest
thereon.
The said commission of two per
cent. on the purchase price 10 be al.
lowed said trustee as. aforesaid shall
beSa payment in full Of ALI services
rendered by said trustee In making
sale and collecting and discussing the
proceeds thereof, and any surplus re-.
naming he shall pay TO the said City
OF &Fairmont or such official Or said
city as may be authorized by Com.
mon Council to receive the same.
Sec. 3!%ThatSthere shall be provided
out of the revenues and earnings OF
the water works system annually a
sinking fund 10 be used exclusively
for the purpose of redeeming said
bonds, and paying their accrued in.
.terest sufficient 10 pay of and dis,
charge all Of them within thirty f30)
years, and that there shall be charge
or rate assessed upon the consumers
OF water from said water system the
yearly aggregate of all which will he
silfiicient TO pay5all other charges up.
on said water system, and the inter.
est. on said bonds, and necessary run.
nlnS expenses, and create an annual
sinking fund Of at least six thousand
dollars; which sinking fund as It is
annually created, Shall be by the
Common Council Immediately invested
IN good and safe securities. at rate
OF interest equal TO at least that which
the said bonds are drawing. And no
part OF said sinking fund shall be
taken, borrowed or used by any 9th.
ers department Of the city. but shall
be kept3so invested at said rate of In
terest until such time as said bonds
or any part OF them becomes payable.
or are directed 10 be paid by3 the
Common Council. But all questions
connected with the issue and sale of
said bonds on the terms and condi.
tons aforesaid, shall be submitted
10 the qualified voters of said city at
especial election to be held for that
purpose on Thursday the I'd day Of
March, 1905, at the several voting
places in said city and the mayor is
directed hereby to issue his procla.
nation accordingly; the holding of
which election shall only be had upon
the publication Of this ordinance in
lat least two newspapers Of general
circulation in said city for at least
two weeks prior TO date of holding
said election, and within ten days ar!
Tier The expiration of the publication
aforesaid, and that all requirements
lad and provided in section, OF the
special act of the Legislature OF West
Virginia comforting this power are
fully carried out. I'll.
z Sec 5. This ordinance shall take
effect when it shall be ratified and
approved by at least three.hfths OF,
all the legal votes cast for and
against the same at the election men,
TONED and provided for in the sue.
ceeding sections. The ballots to be
used Iat said election shall have writ:
tenor printed thereon, the following
words, oswit For ratification and
approval OF the ordinance passed sbS
The Common eouncil of the City Of
Eairmont On the SUI day of February,
AZ - 1905 providing for the issue