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

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E|lEEL.EG,TloNP
EoF E, n Es IDS 81 TfiE.
30 Rp s'o Ed v cRTl ON II 70 R4iS
scHo 10 RoNDs, VI NJ Il
J Ihsreas, q tgas citing Of the Hoard
Of Education Of the independent Dis.
Itrict OF Fairlnont NIL the menbers
having due notice$and being present,
on, the 1Strsday ofeNlarehs 1905: S$ "
On motion twas unanimously or.
dered, that 4. Ri
'NNhercas, on account of the con,
slant andlrap!d increase Of the school
population In the district, and tho
worn-out and inadequate character 81
the school building, known as the
Hish School Building now used
for the High School and tho. Graded
School for the Second and Third
wards, sand the lack Of room in the
Locust avenue building and the Elem.
ing school building. with the immedl.
ate prospect Of necessary additions
to the tBarnsville and Uztown
school buildings and, for fur
niture and equipment; It. has be-.
come necessary and expedient to Dor.
row money$3to provide suitable build.
lngs and fixtures 10 adequately &C.
commolate the children Of the dis.
trict the amount from current levles
upon property assessed In the dis.
trlct for state}and county taxes being
Insufficient and, X!
Whereas, It lis estimated for5 the
purposes aforesaid thntfi will require
at least sl5o,oooOO to purchase site
and construct aud equip anew High
School. building for the district, and
a Grammar Graded School building
for the Fifth ward, and other school
buildings and additions In thee dis.
trlct;$anl refund the bonds now past
due amounting to$sl1,5oo. issued tho
LIST day Of July 1891; and, ~ s.
Whereas, the said sum Of $780,.
10000. excluding tho existing bonded
Indebtedness Of said district, which is
to be paid OF out Of the proceeds Of
the sale Of new bondsSswoulds not OK.
coed five per ccntum of the valuation
Of all the property assessed for taxa.
tion in said district, as ascertained BY
the last assessment Of tho property
for Safe and county taxes; s
Upon consideration whereof, it is
ordered by tho Board OF Education Of
the Independent District of Falrmont;
subject to theyote Of the people Of tho
district, that the said Board issue and
sell bonds to the amount in the aggre.
gate of $l5o,o 100000 for the purposes
aforesaid, IL;
The said bonds shall he issued Yin
amounts of 100000, or multiples
thereof, for a sum In tho aggregate Of
$50, 100000, bearing date thesfrst day
Of June, 1905, and payable To- bearer
twenty years aftersdates thereof, with
Interest from date at the rate Of S
percent per annum payable annual.
W. on the LIST day OF June; each 81
said bonds shall be numbered, and
have attached rs part thereof, 81 inter
est coupons, for the amount Of each
interest payment, the bonds and 8cou.
pons 70 be signed by the Board OF Ed:
ucatlon Of theEIndependent District
Of Fairmont, by its president and sec.
rotary, with theSnew proYlso 53insthe
bonds that said Board Of Education
shall 3haye&theS right atsanya time after
three years from date Of saidbbonds,
to- call infSand pay of and redeem
them, or any part Of them and to
discharge itself from any further
liability arising from said bonds SO
paid of and redeemed. ys3]siS a.
The 9plansadopted by The Board to
meet the accr,iing interest on said
, bonds md and to pay them at maturity;
Isl that II shall be Sthe duty of the
Board Of Education Of said X district,
In the Oh annual levy for the Building
~.
Fund in said district, to provide for
the Interest ION said bonds, together
Wiz hanadditional sum 10 be sci apart
at interest annually. sufficient. with
the accrued interest at$or$beiore the
expiration Of the term twenty years;
20 tos pay on and discharge the said
bonds at that time or, 5atsthe. option
Of the said Board after three years
from date Of said bonds; itSmay select
By lot or by the consent Of I the hold.
err, such bonds by. number. In the sag.
gregate as amounts 70 the sun ttEn, y al al.
ready accumulated or set apart and
that hat may hereafter be set apart as a
sinking fund as 2 a foresaiI and AMY