The labor argus. [volume] (Charleston, W. Va.) 1906-1915, 1908-06-11
Mayors Proclamation for Special
Bond Election to be Held July 9th
1908.
SPECIAL BOND ELE-TIOS

NosiGe is hereby given thai the follow
ing ordnance was passed at the regular
HisetlnS OF the Common Council OF the
10y OF charleston, West Virginia, held
al the City Hall in said CITY on Thurs
DAY, the Est day of May, leoS. and pub
iCation resting sid ordnance is hereby
niade as required by law, towi1.
An or',iaice providing for the issue 81
per C, interest bearing bons for tie
City of Charleston, West Virui,ria ~
the par value and to the amount of
$500 100000 for the purpose of grading,
paving, SeweI1ng and otherwise inn
proving the streets and alleys OF said
City OF Charleston
Be 1t ordained by the Common Conn.
Gil OF the City OF Iharleetou;
Sec- l. That pursuant to Chapter S OF
me ACTS OF the Legislature OF West Nir-
Sihla OF the extra session of IQcS the
ponds OF the City of Charleston. West
NINA oe issued tor the purpose Of
Sid"iiS' paving, Seweriug ami otherwise
Improving TIE streets and alleys of said
Nlly OF SharleStun, said bonds to be. is
sHeu oy the council, at such times as to
tue oouicli or said City shall seen fit
Gu' ny tiie ensuing year ending on the
exceeding i'll the aggregate during said
year, the sum OF $500, 900 90.
@ec. ,: SAID bonds shall be Of the de
nomination of 500. 90 and of nlultiples
.nsreoi and shall bear interest at the
rate OF e per cent per anun1n, PAYABLE
annually at Chase Rational bank h he
lily OF New York, and SAID bonds shall
mature and be payable i'll not cScccdirp
~ yc. rs from date; but the right is re-
serve" by the Common Council of the
NitH OF charleston 10 pay the said bonds
or elmer OF them at any time after one
year from date by PAYMENT OF the bond
or bonds and any accrued interest cou-
po:.s.
sec. 3 The proceeds of sale OF said
ooii'ts snh!l be applied i'll the manner
ti'is ordnance
sec. T. said bonds shall be sold at
NOT less than their par value but when
Soid IL shall be at public sale as provided
oy TINS ordnance, and by the laws Of the
State OF West Virginia. il force govern
ing me same, to the hig!lcs, bid Ter in
writing Tor cash. Ana before any sale
OF such bonds said sale shall be at,ver-
tlsSo IN some convenient newspaper
published i'll the City of Charleston at
-ieast Tour weeks previous to such sale;
nor shall said bonds be issued or sold
until til S ordnance shall have. been NH.
hshed III at least two NEWSPAPERS OF
general circulation i'll the City of Charles
Ton once week for two successive weeks
ana until all questions connected shall
nave been first submitted to the qualified
voters OF the City of Charleston at a
special election held for tina, purpose
only and shall have received IS of all
Fotcs cast tor or against the same.
sec. 5. Said bonds shall be exempt
from municipal taxes of the City OF
harle>ton, which fact shall appear OH
the face of the bonds as a part of the
contract with the holder thereof.
| sec. o. dire annual tax sufficient
TO pay annually the interest OH the debt
and the principal thereof created by the
issue and sale of said bonds within 10
- Law.
al property of the City OF Charleston for
the purpose OF paying the annual interest
When due and to provide a sinking fund
WIN winch to pay the principal OF SAID
bonds. And the sum of Eighteen Tllous
and Dollars or AFT amount equal to at
least per cent of the total amount OF
bonds issued under this ordnance, out OF
tne IeNy OF 1909, or money derived
thercfrorl, by the City of Charleston, f.
pay the first annual interest OH said
ponds and like sum of Eighteen Thous.
and Dollars, or an amount canal to at
least 3 per cent of the total amount OF
Donus issued under this ordnance, is ap-
Proprlated from the revenues 90 the CITY
OF Charleston for each year said bonds
snail run to pay the annual intcres,
tnereon as the same shall fall due and
the sum OF Thirty Thousand Dollars. O,
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 19oo, or money
derived therefrom by the civ ri
charleston, TO be placed i'll a sinking
iund by the Treasurer Of the CITY OF
SharIcstrn. and like sum of Thirty
Thousand Dollars, or All amount equal tC
at lest 10 per cent of the total amount OF
ponds issued under this ordnance is ap-
appropriated from the revenues of the
City OF Charleston for each of the wears
SAID bonds shall run to be placed in said
slnElng fund until the amount shall be
suiaclent TO pay the principal Of said
debt represented by said bonds
sec. The Mayor of the CITY ,oi
charleston shall. as soon this ordnance
snail have been regularly adopted by the
sad Common Council at a regular NEE
ing thereof, issue his proclamation in
MANNER and form as required by law. re-
citing this ordnance, designating the oti,
day OF July 1905. as the day upon which
a special election shall be held for the
FOREGOING purposes only. The said
proclamation shall specify the aggregate
amount OF the Indebtedness of said CITY,
issued and authorized existing at the date