The daily telegram. [volume] (Clarksburg, W. Va.) 1901-1926, 1907-01-29
Ofice Of the Commissioners OF TIL
Water Works Is to Be Abol-
ished Altogether.
a BOARD or WATER WORKS
Consisting Of Three Members Is To
Be Elected To Have Charge of
Fund and the System.

the bill for a bond Issue for water
works and other improvements and
the same has been taken to Charles
ton by Sherman C. Denham and CIV
en- to Delegate Charles N. Hart to
introduce in the legislature. The
bill as prepared by the Board reads
as follows:
bill to authorize the issue by the
Common Council of the City of
Clarksburg OF bonds to the amount
of three hundred thousand dollars
for the purpose of refunding the
present existing Indebtedness of said
city, bonded or otherwise, except the
bond issue of 1901. or improving
the water works system thereof,
amending section Z, chapter 1O1 of
the acts of 1897, by abofishing the
ONCE Of Commissioner OF the Water
Works" and creating in lieu thereof
a Water Works Board" and for
other purposes.
Be 1t enacted by the Legislature of
West Virginia:
Section i. That the Common
Council of the City Of Clayksburg is
hereby authorized ana empowered to
issue bends TO an amount not exceed
ing The sum Of three hundred thous-
and dSliars. IN the aggregate. at such
rate Of interest as they may deem cx-
pedtent, not exceeding SIX per cent.
per annum.
Section II. That the said Common
Council of the said City shall desig-
nate whether the interest on said
bonds shall be paid annually or semi
annually and the place where the
same shall be payable, all of which
shall be expressed on the face of
said bonds, and on the coupons for
the payment of the interest attached
therets.
Thirty Year Bonds.
Section III. The principal of the
said bonds shall be payable at such
times as are declared ON the face
thereof, but not exceeding thirty
years after the date of issue, and
provision shall be made by which
the said city may release and dis
charge itself from any further liabil-
ity hereunder by the payment of the
principal and interest due thereon,
at any time after ten years from the
date OF said bonds.
Sale of Bonds.
Section ". The said bands shall
be sold and disposed of to the high
est bidder after due notice and ad-
vertisement at such times and in
such amounts as the said city coun-
ell may ordain, and the proceeds aris-
ing therefronf shall be applied in
payment of the outstanding legal In
debtedness of the said city, whether
bonded or otherwise, and to the re-
demption Of all bonds heretofore is
sud by said city, except the bonds is
sued in the year 1901, and thereaf-
ter to the improvement Of the water
works plant of said city, and, If the
said city council shall ordain, to the
paving of the streets and the extern
sion of the sewerage system in said
city. And the said bonds when so
issued shall constitute specific and
prior charge and lien upon the said
water works system in said city Of
Clarksburg and all of the property OF
said city pertaining thereto.
Direct Tax Imposed.
Section v. The Common Council
of the said City of Clarksburg shall
provide annually for the collection
of direct annual tax sufficient to
pay annually the interest on the debt
and the principal thereof, within the
period Of thirty years: and out Of
such revenues orlthe income arising
from the said water works, they
shall provide annually a sinking fund
for the payment OF the said interest
and principal within the time express
sed on the face of aaid bonds, which
said sinking fund al 1t annually ac-
eumulates shall be by the common