The labor argus. [volume] (Charleston, W. Va.) 1906-1915, 1907-07-18

ton OF $1,000 each. and numbered
from ] to 800 inclusive, bearing in
terest at the rate OF five per cenrum
per aunum, payable semiannually on
the first day of January and July, of
each year. And said bonds shall be
dated the list day OF July, 1907, and
shall be payable in series as follows:
The first 80 numbered from l 10 so
inclusive, five years after date; the
second 80 numbered from 81 to 100 in
elusive, ten years after date; the third
SO numbered from 1Ol 10 $50 inclu-
siye, fifteen years after date; the
fourth 80 numbered from 151 to 200,
twenty years after date; the fifth so
numbered from POI to $50 inclusive,
twenty-five years after date; and the
sixth 80 numbered from 2j1 to 300 in
elusive, thirty years after date. And
when issued, they shall be signed by
the President of the County Court of
kanawha County and counter-s!Gned
by the Clerk of said Court, with the
seal of said County attached thereto.
2. 1t is further ordered that each
year hereafter, until said bonds are
paid off, at the time the annual levy
of said Kanawha County is lad, there
shall be a tax levied on all the prop
erty subject to taxation in said County
sufficient to pay the annual interest
on said bonds and TO create a sinking
fund to pay the principal thereof when
II o-iiii hJt'Silth saul LANES " ne
collected and accounted for in the
same manner as other taxes and lev
les. But it shall be the duty Of the
Sheriff to deposit the proceeds of said
taxes, as the same are collected from
time to time. in such banks in Kama
wha County, which are repositories
of state funds under the .SawI asp he
may select. which VIII agree and con-
tract with him to pay interest thereon
at rate of not less than 3 per cent
UNI per annun for such time as said
deposits or any part thereof may re-
main in such banks, provided, how
ever, that he shall not deposit more
than $l5,0000 at any Zone time in any
one bank. And each. in which said
funds shall be deposited as. aforesaid,
shall, once in every three months, re-
port to the County Court of kanawha
County, by it's president or cash teT,
the amount of said funds then on de-
post therein, and said report shall be
verified by the affidavit of the officer
making it. and for failure so to re-
port, the said sheriff may, in his dis
erection, cause all.Of the funds to be
Withdrawn from the bank so failing
and shall deposit the same in some
other bank upon the same terms as
herelnbefore set forth. And in case
the said sheriff shall fail to withdraw
said funds, the County Court may, in
its discretion, require him to do so
and to re-deposit the same in some
other bank or banks under the same
terms as above set forth.
3. The proceeds Of said bonds shall
be used and appropriated solely for
the permanent improvem ent of the
main county roads in kanawha Coun
ty leading from the county seat. the
City of Charleston; said Improvement
TO begin on each road at the corpO.
rate limits of said city. and be eX-
tended so far as can be done with the
proceeds of said bonds. But not more
than 100000 par value of said bonds
shall be issued and the proceeds used
IN any one year. The amount of said
work to be done and of said money to
be expended on each road shall be as
near as possible prOportionate< to the
relative Importance thereof as com.
pared with the other main roads lead.
ing from Charleston: to the relative
amount of travel thereon and the ex.
tent OF the territory and number OF
inhabitants to be inundated there
by; such propO ton to be determined
uy the commissioners hereby appoint
ed, subject however. to the approval
Of the County Court
ID. Said bonds shall be sold and
| dispo ed of as follows: AS soon as
practicable after the issuance of said
bonds shall have been authorized Ny
vote OF the people as hcreinafte.. pro
Vlded. the County Court shall adyer-
Use for BIDS for the purchase at not
/ less than par of 1O2 ,0UOO of said bonds
| being the fist seventeen bonds OF
each series, to be numbered as fol
! lows: From l to Il inclusivc; from
81 to g. inclusive: from 101 to III in
| elusive; from Isl to 1G1 inclusive
from POI to PIT inclusive: and from
2ol to 267 inclusive. Sad advertise
ment shall be published in two news.
papers of opposite politics in said IA
! naWha County. at least once a week
! Tor tour weeks prior to the time fiXt,
! Tor receiving said bids. And SAID
| bonds shall be awarded to the high
| est bidder. But the court shall have
| power TO reject all bids if it think.
| proper, but cannot discriminate be
tween the bids received. And in thu
month OF January, in the year 1908
the County Court shall in like name.
advertise Tor and receive BIDS for IN,
/ purchase at not less than par of ar
additional 1p2. 900 OF said bonds. be
! lng the second seventeen bonds OF
each series. to be numbered as fol
lows: From GS- to 81 inclusive: from,
! LIS to 134 inclusive: from 16S to is.
! inclusive: from 21S to PA inclusive.
! and from 26S to 2S4 inClusive;- 3uo
Shall award the same to the highest
/ bidder; with the right however. /,
| reject all bids without discrimination
/ between bids as aforesaid And in the
" },