The daily telegram. [volume] (Clarksburg, W. Va.) 1901-1926, 1908-10-24
BOND ORDNANCE
toontInnea fFom e ..

tcontnusa rom pass u.
Vhereas, 4 IS not possible to pro-
vide sufficient funds for said pur-
poses within the period in which
same are required by annual levies
on the taxable properly in said city
within the limits prescribed by law
for levies and assessments for munlc-
ipal purposes. and the only LAWFUL
manner In which such necessary funds
for said purposes can be procured IS
hy the issue and sale OF the bonds OF
the. city In pursuance of the. statutes
of the state of West Virginia in such
cases made and provided:
Therefore. be Il ordained by the
Council of the City of Clarksburg:
First: That. in order to procure
funds to the amount of two hundred
and twenty-five thousand (226,OOO)
dollars, to be expended for the pur-
poses following. to-wit: (1) To dis
charge and retire bonds of said city
issued In the year 1887, known as the
Water Works Loan" amounting to
thfrty-eIght thousand and four hun
dred cas-, 4OO) dollars; CD To dis
charge and retire bonds OF said city
issued in the year 1896, known as
the water Works Improvement
Loan" amounting to ten thousand
100000 dollars: CD To improve
and extend the present city water
works system to the extent OF one
hundred and ten thousand (110,000)
dollars; (4D To pave and improve
the streets of the city to the extent OF
twenty-six thousand and six hundred
EC26, 6OO) dollars and C5) To I'M
prove the sewer system of the city
to the extent of forty thousand
14O, 0OO) dollars, making total OF
two hundred and twenty-five thous-
and dollars for said purposes. the
City of Clarksburg do issue single
series of It's bonds, to be known as
the water Works Improvement ana
Street Paving Bonds OF the denom-
ination of one thousand C1,OOO) dol
lars each. to be numbered consecu-
lively from one CD to two hundred
and twenty-five C225), both inclusive,
and of the aggregate amount OF two
hundred and twenty-five thousand
(225,O00) dollars, bearing date on
the first day of January. 1903. and
payable to bearer on the first day OF
January, 1899, in gold, at the Empire
National Bank of ClarksburE. in
Clarksburg, West Virginia, and bear
ing interest at the rate OF five COD
per centum per annum from the date
thereof until paid, such interest be-
ing payable annually on the first day
OF January of each year. Said bonds
shall be signed by the mayor and by
the city clerk of said city of CIarks-
burg and shall have affixed thereto
the seal of the said City of Clarks-
burg, and interest coupons for each
interest payment, bearing engraved
fac smile signatures of the Mayor
and of the City Clerk of said City.
shall be attached to each of the said
bonds The whole series of said
bonds. and every part thereof. shall
be subject to cali and redemption at
the price of par and accrued interest
to the date of such call then unpaid.
on any interest day subsequent to the
first day of January. 1918, provided,
however, that the bonds to be re-
deemed shall be selected by lot and
the right to redeem shall be exercised
by the City only after due notice to.
the holder or holders thereof. either
In person or by publication for four
weeks In some newspaper published
in the City of Clarksburg, of the de-
sire of the city to redeem said bonds;
and all OF said bonds shall contain
upon their face provision to the
effect aforesaid. as well as a provision
eXemptIng said bonds from taxation
by the City of Clarksburg for municI-
pal purposes. And when the City of
lClarksburg shall. have notified the
holder or holders of said bonds. or
of any of them, so ascertained by lot,
of its election to redeem the same af-
ter the date aforesaid, as hereinbefore
provided, and shall have deposited ut
the said Empire National Bank OF
Clarksburg a sum in gold sufficient to
discharge the principal and accrued
interest then unpaid of the bonds
which the city so elects to redeem.
said city shall be discharged from all
further liability for the payment of
the principal of said bonds. and in
terest thereon, so redeemed.
Second: That said bonds shall be
in the form following, to-wit:
Water Works Improvement and
Street Paving Bond.
This is to certify that the City of
Clarksburg, n municipal corporation
of the State of West Virginia, is in
debted to- the bearer in the sum of
One Thousand Dollars, which 1t
promises to pay. in gold. on the first
day Of January, 1889, at the Empire
National Bank of Clarksburg, at
Clarksburg, West Virginia. upon the
surrender of this bond, together with
interest threon in the meantime, from
the first day of January. 1909, at the
rate of five (5) per centum per an
mum, payable annually at said En-
pire National Bank of Clarksburg on
the first day of January of each year
until such bond Is paid. upon the sur
render of the annexed coupon there
for.
But the City of CIarksburg shall
have the right, on any interest day
after the first day of January. 1918, 10
redeem this bond and to be released