The labor argus. [volume] (Charleston, W. Va.) 1906-1915, 1907-08-15
Special Bond Election
MAYORS PROCLAMATION

iSS"tiE meeting or the Common COun-
Gil OF the City of Charleston. West Viz
sinta, held at the City Hall in said
CITY on Thursday, the LIST day of Am.
gust, 1907, and publication recitins
said ordinance is hereby made made
as required by law, towit:
AN ORDNANCE providing for the
issue of four and one-half per cent
interest bearing bonds for the CITY
or Charleston, West Virginia. of mar
value to the amount of $4,000. 90 or
which the amount of SIS.0OO.O 90 shall
b used for the purpose of compIetinr
IN" bridge across Elk River at Vir.
Sinia Street; Sl6,00o.OO for the pur-
pose OF tearing down the old Kew
stone bridge and removing and re-
building same at Spring Street with
necessary fills and approaches: S5
10000 to- pay on amount borrowed
from cemetery fund; $65, 900 90 to he
used for paving and curbing the streets
ana sewering in the City of Charles
ton; $25,o00.00 to pay certified ccrti.
hcates outstanding; 100000 to be
used to purchase horses, wagons and
harness and 100000 for repairinr
brooks Street at the intersection of
Nanawha; 100000 to improve CITY
hire stations and city building. and
S2",ooO.O0 to pay open accounts out.
standing
BE 1T ORDAINED by the Common
Council of the City of Charleston;
SECTION l, That pursuant to Sec.
ton of Article 10, of the Constitu.
tion of West Virginia, and Chatter IA
Oh the Acts of the Legislature of West
virginia of 1928. and Chatter 81 of the
Acts of the Legislature of West Vir-
gihla of 1905, the bonds of the City of
charleston, West Virginia, be issued
OF the par value and to the amount of
Si'o,ooO.OO of which the amount of
SlS,oOo.OO shall be used for the pur.
pos" OF completing the bridge across
Elk River, at Virginia Street: SIG 600
10 Tor the purpose of tearing down tho
ola keystone bridge and removing and
rebuilding same at Spring Street with
necessary nils and approaches; S.
ooo.oO to pay on amount borrowed
from cemetery fund; SCI, 100000 to he
used for paving and curbing the strets
ana sewering in the City of Charles
ton; $25,OOO.00 to pay certified Ger.
Htlcates outstanding; 100000 to he
used to purchase horses. wagons and
harness. and $4,000 for repairing
brooks Street at the intersection of
kanawha; 100000 to improve the
city lire stations and city buildings
ana %Z9,oooOO to pay open accounts
outstanding.
SECTION 2. Said bonds shall be of
the denomination of One Hundred
'$loO) Dollars and of multiples there
OF, and shall bear interest at the rate
OF -FOUR and one-half a IL 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 GO) wears
from date or at the end of any year
after said ten UO) years by payment
of the bond or bonds and any accrued
interest coupons.
SECTION 3. The proceeds of sale
OF said bonds shall be applied in the
manner and for the purposes set out
in Section l 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
IN some convenient newspaper pub.
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 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-fifths (3-5) of all votes cast for
or against the same.
SECTION 3. Said bonds shall be
exempt from municipal taxes of the
City of. Charleston, which fact shall
appear on the face of the bonds as n
part of the contract with the holder
thereof
SECTION 6. A direct annual tax
sufficient to pay annually the interest
on the debt and the principal thereof.
created by the issue and sale of said
bonds within thirty-four (34) years.
is hereby levied against the personal
and real property in the City of
Charleston for the purpose of paying
the annual interest when due and to
provide a sinking fund with which
to pay the principal of said bonds
And the sum of s7,650.0O out of the
levy of 1908, or money derived there
from, by the City of Charleston to
pay the first annual interest on said
bonds: and like sum of S7,65O. 90 is
on I