The labor argus. [volume] (Charleston, W. Va.) 1906-1915, 1907-08-01


amount of 100000 in the denomina-
ton of 81 900 each, and numbered
from / to 300 inclusive, bearing in.
tereSt at the rate of five per centum
per annum, payable semi annually 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 so numbered from / TO 30
inclusive. five years after date; the
second so numbered from 81 TO 100 in
elusive, ten years after date; the third
80 numbered from 1O1 to $50 inclu-
sive, fifteen years after date; the
fourth so numbered from ISL to 200,
twenty years after date; the fifth 80
| numbered from 201 to $50 inclusive,
twenty-five years after date; and the
sixth 80 numbered from PSI 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 countcrsigned
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 laid, there
shall he tax levied on all the prop
erty subject to taxation in said County
sufficient to pay the annual interest
fund to pay the principal thereof when
it shall become due; said taxes to be
collected and accounted for in the
same manner as other taxes and lev
les. But 1t 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 law, as he
may select, which viii agree and con
tract with him to pay interest thereon
at a rate of not less than 8 per cent
nm per annum for such time as said
deposits or any part thereof may re-
main i'll such banks, provided, how
ever. that he shall not deposit more
than $15,O0O0 at any one time in any
one bank. And each, in which said
funds shall he deposited as aforesaid.
shall, once in every three months, re.
port to the County Court of kanawha
County, by its president or cash ier,
the amount of said funds then on de
Dosit 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
cret'on. 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withdrawn from the bank so failing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
hereinbeforc set forth And in case
said funds, the County Court may, in
it's discretion. require him to do so
and to re-dcposit 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 Improvement of the
main county roads in Kanawha Coun-
ty leading from the county seat, the
City of Charleston; said Improvement
10 begin on each road at the corpo-
rate limits of said city, and be ex-
tended so far as can he 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 OH each road shall he as
near as possible propoTtionate 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 accommodated there
by; such proportion TO ne determined
by the commissioners hereby appoint
ed. subject. however. to the approval
of the County Court
; IL. Said bonds shall be sold and
diSpo"ed of as follows: AS soon as;
i''''' '''h'if ii''i Tue issuance Oh SHlf'
bonds shall have been authorized by
Il vote of the people rs hercinaftc- pro
Nidcd, the County COul t shall adver-
tiSe for DIS for the purchase at not
less than par of 1912 ,O310 of said bonds
being the first seventeen bonds of
each series. to be numbered as fol.
lows: From l to II inclusive; from
81 to Ga inclusive: from IOl to III in.
elusive: from 151 to IL. inclusive:
from 2ol to 211 inclusive: and from
21l to 261 inclusive. Sa d advert Use.
ment shall be published in two news
papers of opposite politics in said Ia
nawha County, at least once weel;
FOR four weeks prior to the time fixed
for 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 thinks
proper. but cannot discriminate be
tween the bids received. And in the
month of January, in the year 1908
the County Court shall in like mannc!
advertise for and receive bids for the
purchase at not less than par of an
additional 100000 of said bonds be-
ing the second sevontecn bonds OF
each series. to he numbered as fol
lows: From IS to 81 inclusive: from
lis to 1874 inclusive: from 1GS to lS4
inclusive: from 2lS to pa inclusive:
and from 26S to 2S4 inclusive: and
shall award the same to the highest
bidder; with the right. however. tC
reject all bids without discrimination
between bids rs aforesaid And in the
/ /, Of IT,,