Martinsburg herald. [volume] (Martinsburg, W. Va.) 1881-1920, 1907-10-12
proclamation to the Voters Of the
school District Of Martinsburs.
Notlce Of BOND Issue.

Whe1 cas- the value OF tne IdAdU =
property In the school district OF Mar
tnsburg, III said county, ascertalned
by the assessment for state and coun-
ty taxes for The year 1907, was S5,-
07S 1908, and the bond issue here
in contemplated, together with exist
ing Indebtedness, does not in the
aggregate exceed two and one-half
per centum on the value Of such prop
erty as provided By law and
Whereag, the Beard OF Education Of
said district pursuant to an Act Of
the Legislature of West Virginia
passed February ~, 1907 did, on the
9th day of May, 1907, submit fol
rat'Gca on 10 t1e voters Of said dis
trict a proposition to Issue bonds 90
the amount * $50 900 bearing inter.
est at the rate of four per centum per
annum fog the purpose Of Paying OK.
istlug indebtedness, building, compile
ing charging rmodc.ing and fur.
nishing school houses Within said
district; and whereas said PROPOSE
tea was euly ratified by moro then
threehrths Of ell the votes cast fer
and againgt the same at the municipal
election at which the So d submission
was made; and whereas said Board
has not been able to sell said bonds
because OF the Tow rate of interest.
and deems 1t expedient to secure the
authority of the voters Of said dis
trict to issue said bonds at higher
rate of interest and to make the OPP
tiona redemption ten, instead of five
years as provided in the former pro
clamation.
Therefore / g 1t Resolved, That the
School District of Martinsburg do is
sue its bonds, pursuant to the author
ity vested in the Board OF Education
thereof by an Act OF the Legislature
passed February IL, 1907, to the as
gregate amount OF $50,0C000 for the
purpose Of paying existing indebted
ness, building. completing. enlarging
and furnishing school
houses within said district as follows,
to-wit:
l. To bui'd nd equip new schooI
house on the Third Ward School
House Lot in said district
?. TO pay for the Addition made to
the Colored School House in the Sec
nnd Ward il said district
g TO pay for the heating apparatus
now being installed in the Second ana
Fourth Ward School Houses and for
repairs to the heating apparatus al
ready installed in the Fifth Ward
School House, all in said district
1. TO build an Annex to the High
School in the Third Ward in said
district
} TO liquidate existing indebted
ness whether by outstanding bonds On
and
G. TO pay for any Improvements to|
the school buildings or property in
said district deemed necessary.
Sad bonds shall be of the denomi-
uation of $4,000 each, payable in 80
years from their date at the Office
of the sheriff, ex-officio treasurer of
said county. with interest thereon
from da'e at the rate of five per cent
um per annum payable semi.annua!ly
upon presentation at said Office OF
the proper coupon thereto annexed
provided, however, that said bonds, or
any of them shall be redeemabIe at
the opt on Of TIE said board at any
time after ten years from their date
at the maturity OF any interest coupon
thereto annexed upon a notice of the
intention so to edeem being publish
ed once week for four successive
weeks in some newspaper published,
or of general circulation. in said coun.
ty and from the date so fixel fol
such redemption the interest on such
bonds shall cease. Said bonds shall
be executed by the president of the
Board of Education of said district,
its corporate seal be thereto affixed.
attested by its secretary, and the in.
terest coupon annexed thereto shall
bear the autographed or engraved
signature of said secretary: they shall
he numbered from one TO one hun
dred consecutively
The said Board Of Education has al
ready provided by a proper levy upon
the taxable property in said district
for the collection of direct annual
tax sufficient to pay the annual inter
est on said debt and the principa!
thereof within thirty years.
Resolved further, that Tuesday, the
9Th day OF November. 1907, be aad the
same is hereby appointed as the day
upon which an election will be held
in said district of Martinsburg to de
eide whether or not the voters there
of VIII ratif sad action of the Board
of Education and authorize the issue
of said bonds as herein provided; and
that this resolution together with a
full and accurate statement OF the
financial condition of said district as
shown on the LIST day of July, 1907, be
published once a week for four sue
cessive weeks in the Martinsburg Her
aid, the Acknowledgement, aad the
Evening Journal newspapers publish
ed in said district.
Said financial statement is in
words and figures following, to-wit:
Statement, July I, 1907.
Total value of taxable
property in 1907 5,07S, 1868
Two and one-half per
! cent. thereof is l...... 1876. 969. II
Bonded indebtedness,
per cent ............ $500. 90
Outstanding orders. per
cent. ................. $4,000
Outstanding or1arc no,