The Fairmont West Virginian. (Fairmont, W. Va.) 1904-1914, 1905-04-08
RECLAMATION

THE PRESIDENT Of THE;
BOARD OF EDUCATION FOR
scHooL{eoNDs.
Whereas. at a meeting OF the Board
o. Education Of the Independent Dis
trict OF Fairmont, all the members
having due notice and being present,
on the 18th day Of March, 1906:
On motion It, was unanimously Or
dered, that
Whereas, on account OF the con.
slant and rapid increase Of the school
population in the district, and the
worn,out and inadequate character Of
the school building, known as the
High School Building now used
for the High School and the Graded
School for the Second and Third
wards, and the lack Of room in the
Locust avenue building and the Elem.
ing school building, with the immedi.
ate prospect Of necessary additions
10 the Evansville and Uztown
school buildings and, for fur.
Mture and equipment; It has be.
come necessary and expedient TO Dor.
row money to provide suitable build.
ings and fixtures 10 adequately nc.
commodate the children Of the dis.
trict the amount from current levies
upon property assessed In the dis.
tric; for State and county taxes being
insufficient and,
Whereas, 1t Is estimated for the
purposes aforesaid that 1t will require
at least s%l50,000.O0 to purchase site.
ana construct and equip n new High
School building for the district, and
q Grammar Graded School building
for the Fifth ward. and other school
buildings and additions In the dis.
trict; and refund the bonds now past
due amounting to slt,500. issued the
LIST day OF July, 1891; and,
Whereas, the said sum OF $3.50.
10000, excluding the existing bonded
Indebtedness Of said district, which is
TO be paid off out Of the proceeds Of
the sale of new bonds, would not ex.
coed five per centum of the valuation
or all the property assessed for taxa.
ton IN said district, as ascertaincd BY
the last assessment Of the property
for Safe and county taxes;
Upon consideration whereof, it Is
ordered BY the Board of Education Of
the Independent District of Fairmont,
subject to the vote of the people OF the
district, that the said Board issue and
sell bonds to the amount In the aggre.
gate of $3.50, 100000 for the purposes
aforesaid.
The said bonds shall lie issued in
amounts of 100000. or multiples
thereof, for a sun IN the aggregate OF
$3.50 ,000.0O, bearing date the first day
of June, 1905, and payable TO bearer
twenty years after date thereof, with
interest from date at the rate Of i
per cent. per annum, payable annual,
~, on the list day Of June; each OF
said bonds shall be numbered, and
have attached as part thereof, inter.
est coupons. for the amount of each
interest payment, the bonds and coll.
pons to be signed by tile Board OF Ed.
u~cation OF the Independent District
of Tairmont, by its president anil sec
rotary, with the new proviso 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 and pay off and redeem
them, or any part Of them; and, tc
discharge itself from any furthe,
liability arising from said bonds Sc
paid off and redeemed.
The plan adopted by the Board Il
meet the accruing interest on sait
bonds and to pay them at maturit,
is that it shall be the duty of Tho
Board of Education OF said district
in the annual levy for the Buildln:
Fund in said district, to provide 10
/. the interest IN said bonds. togethe
/ with an additional sum to be set apar
at interest annually, sufficient, wit
tho accrued interest at or before tn
! expiration Of the term of twenty years
TO pay off and discharge the sal
bonds at that time; or, at the optic
, Of the said Board, after three year
: from date Of said bonds, 1t may selec
by lot OF by the consent Of the hole
er, such bonds by number. in the az
gregate as amounts to the sum a
ready accumulated or set apart an
that may hereafter he set apart as
sinking fund as aforesaid and appl
the said sum so set apart annually t
the payment Of said bonds SO selec
ed, and when paid shall be duly cal