The labor argus. [volume] (Charleston, W. Va.) 1906-1915, 1908-07-02
Mayors Proclamation for Special
Bond Election to be Held July 9th
1908.
SPECIAL BOND ELECTION.

1913.
SPECIAL BOND ELECTION.
Notice is hereby given that the follow
ing ort1lance was passed at the regular
meeting of the Common Council of the
CITY OF Charleston, West Virginia, held
at the City Hall in said City on Thurs
day, the 2Ist day of May, 1eoS, and pub
llcatlon resting said ordnance is hereby
made as required by law, towit.
| An ordnance providing for the issue of
per cent interest bearing bons for the
City of Charleston, West Virginia, of
the par value and to the amount of
S5oo, 900 90 for the purpose of grading,
paving, sewering and otherwise i'm
City of Charleston
Be 1t ordained by the Common Coun-
Gil OF the City of CharIeston;
Sec 1. That pursuant to Chapter of
the acts OF the Legislature of West Vir-
glnla, of the extra session of 1908 the
bonds of the City of Charleston, West
Virginia, be issued for the purpose of
grading, paving, sewering and otherwise
| improving the streets and alleys of said
City OF Charleston, said bonds to be is
SUED by the Council, at such times as to
the Council OF said City shall seen fit
during the ensuing year ending on the
hrst day CT July, 1909, to an amount not
exceeding In the aggregate. during said
year, the sum of $500, 10000.
Sec. ?: Said bonds shall be of the de-
thereof and shall bear interest at the
rate OF per cent per annnm, payable
annually at Chase National Bank, in the
| City OF New York, and SAID bonds shall
mature and be payable in not exceeding
10 yesrs from date; but the right is re-
served by the Common Council of the
City OF Charleston to pay the said bonds
or either OF them at any time after one
year from date by payment of the bond
or bonds and any accrued interest cou-
pons.
Sec. 3. The proceeds of sale of said
bonds shall be applied in the manner
and tor the purposes set out in Sec. of
this ordnance.
Sec. 4. Said bonds shall be sold at
not less than their par value but when
sold 1T shall! be at public sale as provided
by this ordnance, and by the laws of the
State of West Virginia. in force govern
ing the same, to the highest bidder in
| writing tor cash. And before any sale
1 OF such bonds said sale shall be adver-
tlsed IN some convenient newspaper
Publlshed IN the City of Charleston at
least tour weeks previous to such sale;
nor shall said bonds be issued or sold
until this ordnance shall have been pub
llshed III at least two newspapers of
general circulation in the City of Charles
Ton once week for two successive weeks
/
have been first submitted to the qualified
voters OF the City of Charleston at a
special election held for that purpose
only, and shall have received 3-5 of all
votes cast tor or against the same,
| Sec. S. Said bonds shall be exempt
from municipal taxes of the City of
| charleston, which fact shall appear on
the face of the bonds as a part of the
contract with the holder thereof.
Sec. 6. A direct annual tax sufficient
to pay annually the interest on the debt
and the principal thereof created by the
years is hereby levied against the person.
al property of 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
oonds. And the sum OF Eighteen Thous-
and Dollars or an amount equal to at
least per cent of the total amount of
bonds issued under this ordnance, out of
the levy OF 1909, or money derived
theretron, by the City of Charleston, to
pay the first annual interest on said
bonds and like SUM of Eighteen Thous-
and Dollars, or an amount eqnal to at
| least per cent of the total amount of
bonds issued under this ordnance, is an
propriated from the revenues of the CITY
OF Charleston for each year said bonds
shall run to pay the annual interest
thereon as the same shall fall due. and
the sum OF Thirty Thousand Dollars, or
an amount equal to at least 10 per cent
OF the total amount of bonds issued
under this ordnance, is hereby appro
pr1ated cut OF the levy of leoe, or money
derived therefrotn, by the City Of
Charleston, to be placed in a sinking
fund by the Treasurer of the CITY Of
Sharlestrn. and a like sum of Thirty
thousand Dollars, or an amount equal to
at lest 10 per cent of the total amount of
bonds issued under this ordnance, is ap-
appropriated from the revenues of the
City of Charleston for each of the years
said bonds shall run to be placed in said
sinSlng fund until the amount shall be
suihclent to pay the principal of said
debt represented by said bonds
Sec. 7 The Mayor of the CITY of
Charleston shall. as soon as this ordnance
snail li M nave been regularly adopted by the
ing thereof, issue his proclamation in
manner and form as required by law. re-
citing this ordnance, designating the 9th
day OF July 1908. as the day upon which
a special election shall be held for the
foregoing purposes only. The said