The labor argus. [volume] (Charleston, W. Va.) 1906-1915, 1908-06-25
Mayors Proclamation for Special
Bond Election to be Held July 9th
1908.
SPECIAL BOND ELECTION.


Notice is hereby given that the follow
ing ordnance 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, zoos, and pub
hcatlon recitine said ordiance'is hereby
made as required by law, towit,
An ordnance providing for the issue of 6
per cent interest bearing bons for the
City OF Charleston, West Virginia, of
the par value and to the amount Of
$500, ooo.o 90 for the purpose of grading
paving, sewering and otherwise inn
proving the streets and alleys of said
City of Charleston
Be 1t ordained by the Common Coun-
Gil OF the City of Charleston;
Sec l. That pursuant to Chapter of
the Acts of the Legislature of west Vir-
gina, 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
durlng the ensuing year ending on the
nrst day CT July, 1909, to an amount not
exceeding in the aggregate. during said
year, the sum of 100000.
Sec. 2. Said bonds shall be of the de-
nomination of $4,000 and of multipIes
thereof and shall bear interest at the
rate OF o per cent per annnn, PAYABLE
annually at Chase National Bank, in the
City OF New York, and sad bonds shall
mature and be payable i'll 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
pons.
Sec. g.. The proceeds of sale of said
bonds shall be applied in the manner
and tor the purposes set out in Sec. I of
this ordnance.
Sec. q. 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
OF such bonds said sale shall be adyer-
used IN some convenient newspaper
published in the City of Charleston at
least four weeks previous to such sale.
nor shall said bonds be issued or sold
until this ordnance shall have been pub
lSheo IN at least two newspapers of
general circulation in the City of Charles
ton once week for two successive week
and until all questions connected shall
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 as of all
votes cast for or against the same,
Sec 5. Said bonds shall be exempt
from municipal taxes of the City of
Sharleston, which fact shall appear or,
the face of the bonds as a part of the
contract with the holder thereof
Sec. .. A direct annual tax sufficient
TO pay annually the interest on the debt
ana the principal thereof created by the
ISSUE and sale OF said bonds within 10
years Is hereby levied against the person
al property of the City Of Charleston for
the purpose OF paying the annual interest
"hen due and to provide sinking fund
with which to pay the principal Of said
oonaS. Anu the sum of Eighteen Thous-
, 'iiu DollarS or an amount equal to at
least per cent of the total amount of
bonds issued under this ordnance, ont Of
the levy OF 1902 or money derived
theretrotn, by the City of Charleston. to
pay the first annual interest on said
oonds and like sum of Eighteen Thous
anu, anu leoIlars' or an amount eqnal to at
least per cent of the total amount of
bonds issued under this orcliauce-is an
ProPr1ated from the revenues of the CITY
OF Charleston for each year said bonds
saall run to pay the annual interest
thereon as the same shall fall due. and
one 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-
Prlated cut OF the levy of 1000, or money
derived therefrom, by the CITY Of
Sharleston, to be placed in a sinking
lund by the Treasurer of the CITY Of
,.SS!harlestrn. and like sum of Thirty
housand Dollars, an amount equal to
at lest 10 per cent of the total amount of
bonds issued under this ordnance, is an
appropriated from the revenues of the
Slty OF Charleston for each of the wears
saiI ponds shall run to be placed in said
SINKING fund until the amount shall be
Suh,clent to pay the principal of said
oeot represented by said bonds.
Sec The Mayor of the CITY of
ShaTleston shall. as soon as this ordnance
shaii have been regularly adopted BY the
SAID Common Council at a regular meet
ing thereof, issue his proclamation in
n manner and form as required by law. re-
d .s,H x Inis ordnance, designating the 9th
a special election shall be held for the
toregolng purposes only The said
ProcIanatlon shaft specify the aggregate
amount OF the Indebtedness of said CITY.
issued and authorized existing at the date