The labor argus. [volume] (Charleston, W. Va.) 1906-1915, 1907-09-05
Special Bond Election
MAYORS PROCLAMATION

MAYORS PROCLAMATION
Notice is hereby given that the fol.
lowing ordinance was passed at the
regular meeting of the Common Coun-
ell of the City of Charleston, West VIr-
GINA, held at the City Hall in said
City on Thursday, the LIST day OF An
gust, 1907, and publication reciting
said ordinance is hereby made made
as required by law. to-wit:
AN ORDINANCE providing for the
issue of four and one-half per cent
interest bearing bonds for the City
of Charleston, West Virginia, of par
value to the amount of S17O,0O0.OO or
which the amount of $1S.00OO0 shall
D. used for the purpose of completing
the bridge across Elk River at Vir-
ginia Street; $16,0oO.00 for the pur-
pose of tearing down the old Key
stone bridge and removing and re-
building same at Spring Street with
necessary fills and approaches; So
10000 to pay on amount borrowed
from cemetery fund; $65, 100000 to be
used for paving and curbing the streets
and sewering in the City of Charles
ton; $25,000.00 to pay eel titled certi-
hcates outstanding; 100000 to be
| used to purchase horses, wagons and
harness and 100000 for repairing
Brooks Street at the intersection of
kanawha; $5,00000 to improve city
fire stations and city building, and
S29,0O0.OO to pay open accounts out
standing.
BE IT ORDAINED by the Common
Council of the City OF Charleston:
SECTION 1, That pursuant to Sec
| ton of Article 10, of the Constitu-
| ton of West Virginia, and Chatter 141
of the Acts of the Legislature of West
Virginia of 1928. and Chatter 81 Of the
Acts of the Legislature of West Vir-
ginia of 1905, the bonds of the City of
| Charleston, West Virginia, be issued
of the par value and to the amount of
| S11O,0OO.O0 of which the amount f
| $1S,000.00 shall be used for the pur-
pose of completing the bridge across
Elk River, at Virginia Street; $4,000.
90 for the purpose of tearing down the
| old Keystone bridge and removing and
| rebuilding same at Spring Street with
| necessary fills and approaches; $5,-
| 100000 to pay on amount borrowed
J from cemetery fund; sG5,0O0OO to be
used for paving and curbing the STREETS
| and sewering in the City of Charles
| ton; $25,000.0O to pay certified GER
| iicatcs outstanding; 100000 to be
| used to purchase horses. wagons and
harness. and $4,000 for repairing
Brooks Street at the intersection of
city fire stations and city buildings,
and $29,O0O.00 to pay open accounts
| outstanding.
| SECTION 2. Said bonds. shall be of
| the denomination of One Hundred
| ($100) Dollars and of multiples there
of, and shall bear interest at the rate
of four and one-half a 1-2 per cent?
| per cent per annum payable annually
at Chase National Bank, in the City of
/ New York, and said bonds shall ma
ture and be payable in thirty-four (34)
years from date, but the right is re
served by the Common Council of
the City of Charleston to pay said
bonds or either of them ten (10) years
| from date or at the end of any year
| of the bond or bonds and any accrued
| interest coupons.
| SECTION g. The proceeds of sale
of said bonds shall be applied in the
manner and for the purposes set out
in Section 1 of this ordinance.
! SECTION 4. Said bonds shall be
| sold at not less than their par value,
but when sold it shall be at public
sale, as provided by this ordinance,
and by the laws of the State of West
Virginia in force governing the same,
to the highest bidder in writing for
cash; and before any sale of such
bonds, said sale shall be advertised
|
lished in the City of Charleston at
| least four ca weeks previous to such
sale.
| Nor shall said bonds be issued or
sold until this ordinance shall have
been published in at least two news
papers Of general circulation in the
| City of Charleston once d week for
| two successive weeks, and until all
questions connected with the same
shall have first been submitted to the
| qualified voters of the City of Charles
| ton, at special election held for that
purpose only, and shall have received
| three-dfths (3-5) of all votes cast for
| or against the same
SECTION 5. Said bonds shall be
| exempt from municipal taxes of the
| City of Charleston, which fact shall
| appear on the face of the bonds as a
| part of the contract with the holder
! thereof.
| SECTION 6. a direct annual tax
sufficient to nay annually the interest
on the debt and the principal thereof,