The Clarksburg telegram. [volume] (Clarksburg, W. Va.) 1874-1926, 1908-10-29
BIC PATRIOTIC DEMONSTRATION
is PLANNED FOR THIS SECTION$
a BOND ISSUE

burg as hereinafter provided for,
there shall be printed or autographed
bonds and interest coupons in the
form and numbers lereinbefore spec
flied and the bonds shall be signed
by the Mayor and City Clerk OF the
city and the seal of the city affixed
thereto, after which they shall bel
turned over to the special committee
and by said committee said
bonds shall be sold to the highest bid
der in writing. approved by said COM
mittee, for cash or its equivalent inI
the bonds of tho City of ClarksburgI
of the issues of'the years 1887 and
1895, and known. respectively, as
Water Works Loan. and Water
Works Improvement Loan" and the
bonds of,the city of the issues afore-
said received by the. said committee
as proceeds OF such sale together with
all such bonds purchasable by 1t with
proceeds aforesaid shall be cancelledi
and retired. and all moneys arising
from the said sale OF said bonds shall
be deposited in said Empire Nationalj
Bank of Clarksburg to tho credit of
Suid NlbSt ShIIu 6Hhll VIC uIcu anu en-
pended only for the purpose herein
before mentioned under direction OIL
the said special committee authorized
thereto. Before any sale OF SUCH
bonds shall be made notice OF such
sale shall be advertised In some news
paper published in the City of Clarks-
burg for four weeks prior thereto
and none of said bonds shall be sold
at less than par value.
Fifth: That Mcssrs. Edward j..
Wood, ............... ......
t.....t.....s.s.,e .,.f.....-..'...,...
and .....,......,..,.,... citizens
and taxpayers of the City of Clarlss-
burg, be, and they are, hereby APP
pointed aud constituted a committee
of five to be known as the Bonds
and Water Works Commission .
whose authority and duty 1t shall be
to supervise and direct the issuance of
said bonds, to conduct and consumate
the sale of the same In the manner
hereinbefore prescribed. to employ
such experts and engineers as they
may deem proper. to prepare plans
and specifications for Improvement
to the water works system, streets ard
sewers of the City of the character in
Dictated herein. and to submit such
plans to tho council of said city for
approval. to make all necessary con-
tracts for the installation and com.
ipletion Of such improvements Accord
ing to the plans approved by such
council and supervise the execution
of such contracts and also to issue
vouchers for all work performed andl
material furnished in accordance
with the terms of such contracts
so made,.which vouchers after having
been approved by the Council of the
City of Clarksburg. shall be paid by
the Treasurer of said city out of
funds arising from proceeds of sale
of, said bonds; and the members of
said Bonds and Water Works Com
mission shall continue to hold their
trusts. perform their duties ana ex-
ercise the power aforesaid during the
time necessary for the issuance and
selling of said bonds together with the
discharge of the Indebtedness herein
provided to be paid, and during the
completion of the improvements here
In provided for, and further at the
will and pleasure of the Council of
said City. And no part of the assets
derived by the sale of said bonds shall
be paid out by the Council of the
City of Clarksburg. or by any officers
of said City, without the previous ap-
prevail of said Bonds and Water
Works Commission.
Sixth: That the Council of the City
of clarksburg, being of the opinion
n t1aa- NSNo astt =
taxes for municipal purposes within
said City prescribed by Section . OIL
Chapter of the Acts OF the Legisla-
ture of West Virginia in the year,
1908; will not produce sufficient funds
to pay the interest on the bonded in
debtedness herein created and l,rovide
a. sinking fund for the discharge OIL
the principal within the period OF
thirty years. 1t Is ordered that thel
Council of the City of clarksburgI
shall on each year for the period of
thirty years. beginning with the yearI
1909. lay direct annual tax upon ALL
the property within said city not ex-
empt from taxation for that purpose.
which tax shall not exceed eleven
CID cents on each One Hundred
tlOO) Dollars value of such taxable
property. sufficient to produce Fifteen
Thousand d5,O0O) Dollars in each
and every year for that period. for
the purpose o fpaying annual the
interest on said bonds and the prin-
cipal of the same within the period
thirty years from January list, 1909. /
Said levy shall be in addition to all
other levies and assessments made by
the council of said city for any and
all purposes, In each year. and shall
be known as the Water Works I'M
proyement and Street Paving levy.
and the money. arising from said levy,
shall not be applied to any other pur-
poses than to pay the interest annu-
ally upon the pones aforesaid aud
to DISCHARGE the principal or said
bonds ny required or permitted byl
his ordinance. Provided. however
hat the funds 50 derived applicable 70