The labor argus. [volume] (Charleston, W. Va.) 1906-1915, 1907-07-25


amount of 100000 in the deuOmina-
ton of 81 900 each andy nun Bered
from l to 300 inclusive, bearing IN
tereSt at the rate OF five per Centum
per annun. 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 =
me hrst 80 numbered from ] TO 80
inclusive, five years after date; the
second 80 numbered from 81 to 100 in
elusive, ten years after date; the third
81 numbered from 10l TO $50 inclu-
sive, fifteen years after date; the
fourth 80 numbered from 15l to 200,
twenty years after date: the fifth 50
numbered from 20l to go inclusive
twenty-five years after date: and the
sixth 80 numbered from Isl 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 counter-sigued
by the Clerk of said Court, with the
seal OF said County attached thereto.
q IL IS further ordered that each
year hereafter, until said bonds are
paid off, at the time the annual levy
or said kanawha County is LAID, there
shall be tax levied on all the prop,
erty subject to taxation in said County
siihclent to pay the annual interest
on said bonds and to create a sinking
iund to pay the principal thereof when
IL snail become due; said taxes to he
collected and accounted for in the
same manner as other taxes and lev
les. But it shall be the duty of the
Sherln to deposit the proceeds of said
taxes, as the same are collected from,
time to time, in such banks in Kana-
VIVA County, which are deDositories
or state funds under the law. as he
may select, which VIII agree and con.
tract with him to pay interest thereon
ut a rate of not less than 3 per cent
uH per annuin for such time rs said
deposits or any part thereof may re-.
main in such banks, provided how
ever, that he shall not deposit more
IMAM Sl5,OOOO at any one time in any
one bank. And each in which said
FUNDS shall be deposited as aforesaid,
shhil' once in every three MONTHS re
port TO the County Court of Kanawha
county, by its president or cashier,
the amount of said funds then on de-
post therein, and said report shall be
verified by the affidavit of tho officer
making it. and for failure so to re-
port, the said sheriff may in his dis
cretion. cause all of the funds TO he
Withdrawn from the bank so failing
ana shall deposit the same in some
0ther bank upon the same terms as
nerelnbefOrc set forth. And in case
the said sheriff shall fail to withdraw
sald funds, the County Court NAV. in
It's discretion, require him TO do SO
and to re-deposit the same in some
other bank or banks under the same
terms as above set forth
3. The proceeds of said bonds shall
ne used and appropriated solely for
lhe permanent improvement of the
main county roads in kanawha COun-
~ leading from the county seal. the
ely OF Charleston; said improvement
10 begin on each road at the corDo
rate limits of said city, and be OK
tended so far as can be done with the
proceeds of said bonds. But not mora
tnan $lOo,ooO par value of said bonds
snail be issued and the proceeds used
III any one year. The amount of said
work to be done and of said money. TO
be expended on each road shall he rs
near as possible proportionatc to the
teiatiVe Importance thereof as com
pared with the other main roads lead
ing from Charleston; to the relative
amount of trayel thereon and tho nv
tent of the territory and numhnr. Of
inhabitants to be accommodated there
Dy' such proportion to be determined
by the commissioners hereby appoint
ed. subject. however, to the annroynl
OF the County Court
3 L.. Said bonds shall be sold and
disposed of as follows: AS soon a.
practicable after the issuance of said
pohdS snail nave been authorized lNr
vote OF the people as hereinafter pro-
fideu. the County Court shall advcr-
Use for BIDS for the purchase at MOI
iesS than par Of l02 5000 of said bonds
pelHS me nrSt seventeen bonds Of
each series, 10 be numbered rs FOL
lows: From | to II inclusive: from
81 TO 81 inclusive: from lOl to III in
elusive: from 15l to 1G1 inclusiye.
from "o1 10 21I inclusive: and from
23l to 2G1 inclusive. Sad advertise.
ment snail be published in two news
papers of opposite politics in said Ea-
IaWha County, at least once a wccI,
Ior lour weeks prior to the time fixed
ior receiving said bids Aud said
bonds shall be awarded to the hfmb-
est bidder. But the court shall have
power to reject all bids if il thinks
proper. but cannot discriminate he
tween the bids received. And in the
month of January. in the year 1905
the county Court shall in like name
advertise for and receive BIDS for, INC
purchase at not less than par of an
additional 100000 of said bonds. he
ing the second seventeen bonds of
each series. to be numbered rs fol
lows: From IS to ST incluSiyc. from,
lis to 1@i inclusive; from lGS to 1884
inclusive: from 21S to 23i inclusive.
and from PCS TO PSI inclusive: ann
SHa!i award the same to the highest
bidder; with the right. however l.,
reject all bids without discrimination
between bids as aforesaid. And in the
month of january in ,-f,r -g..-