The labor argus. [volume] (Charleston, W. Va.) 1906-1915, 1907-08-22

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
$170,000.00 of which the amount f
s1s,OOO.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: S.
10000 to pay on amount borrowed
from cemetery fund; $65,OOO.OO to be
used for paving and curbing the STREETS
and sewering in the City of Charles
ton; $25,000OO to pay certified GER
dhcates outstanding; 100000 to be
used to purchase horses. wagons and
harness, and $1,000 for repairing
Brooks Street at the intersection of
kanawha; 100000 to improve the
city fire stations and city buildings,
and $24O00.00 to pay open accounts
outstanding.
SECTION 2. Said bonds shall he Of
the denomination of One Hundred
($1OO) Dollars and of multiples there
or, and shall bear interest at the rate
or 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 (1O) years
from date or at the end of any wear
after said ten (10) years by payment
of the bond or bonds and any accrued
interest coupons.
SECTION 3. The proceeds of sale
n No
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
| in some convenient newspaper pub
lished in the City of Charleston at
least four (D 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 II week for
two successive weeks, and until all
questions connected with the same
| snail 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-n1ths (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 n
part OF the contract with the holder
| thereof
SECTION 6. \ direct annual tax
su1lclent 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
ana real property in the City of
Charleston for the purpose of paving
the annual interest when due. and to
provide sinking fund with which
10 pay the principal of said bonds.
ana the sum of $3.50 90 ont Of tho
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 $1,000 90 IL
| appropriated from the revenues Of tht.
City OF Charleston for each wear said
. uollus shall run to pay annual interest
ontreoh as the same shall fall due.
ana the sum of 100000 is hereby an
propriated out of the lew of 1oOe nv
money derived therefrom. by the civ
OF charleston. and a like sum of 81
oVo'oo is appropriated from the reye
nues of the City of Charleston for e,c1,
OF the years said bonds shall run. to he
paced in said sinking fund until tho
anioullt Shail be sufficient to paw the
principal OF said debt represented bn
the said bonds. ~
80 SECTION I. The Mayor of the Citv
OF Charleston shall, as soon &c th;
ordnance shall have been reeI,1sr1v |
ADOPTED by the said Common Council
a. regular meeting thereof. issue his
proclamation in manner and form no
REQUIRED by law, recitins this ordi.
nan lance e., designating Tuesday, Septem-
Ioth' 1907. as the day upon which |
special election shall be held for
NE foregoing purposes only. The said
p p, q, shall specify the aggre
Sate amount of Indebtedness of saih
C'E issued and authorized. existine
~ 1he date of the proclamation: and
s o11 proclamation shall be published in
an me newspapers published in The
Silu CltE OF Charleston for +b;r+,- IonS