Martinsburg herald. [volume] (Martinsburg, W. Va.) 1881-1920, 1908-10-17

InS board OF Education of tn Inde
pendent District of Martinsburg ii
the county of Berkeley, State OF Yves
Virginia, in pursuance Of the author
ity vested in it by said statute. *
borrow and issue bonds therefore fhs
sum of $4,000 for the purpose o
building, completing, enlarging, re
pairing and furnishing school houses
in said town no district as herein
after particularly set forth.
And TO provide more definitely con
corning said bonds it Is further or
dered:
j. They shall be one hundred fl
number of the denomination of five
hundred dollars each, and numbered
from one o one hundred, consecu
lively, making the aggregate of fifty
thousand dollars in all.
2. They shah bear date on the first
day Of January, A. ID. 1909, and be
payable on the first day OF January.
A. ID. 1913, at the Citizens National
Bank Of M~artinsburg, w. Va, in Mar
tinsburg, w. Va, and shall bear in
terest from their date at the rate OF
five per centum per annum; they shall
have coupons thereto attached for the
payment of the interest thereon semi.
annually. at the same place, on the
first day of July, 1909, on the first day
OF January, 1910, on the first day OF
July, 1910, and SO on for each succeed
ing year until the bonds mature, I'M
less sooner edeemei or cancelled
pursuant TO law.
8. They shall be payable to bearer
by The Board OF Education of the
Independent District OF Matinsburg,
West Virginia, and shall be signed by
the President and Secretary, respec-
lively, Of said Board, and its corpor-
ate seal shall be thereto affixed; and
the interest coupons shall be likewise
SO payable, and bear the engraved or
printed signature of said secretary.
4. They shall refer on their face to
the Act of the Legislature of West
! Virginia under which they are issued
and contain a reservation of the right
of said Board to pay and redeem the
same, or any n or more of the same
after ten years from the date of issue
as provided by this order, and also
a statement to the effect that ade-
! auate provision has been made for
the collection Of a direct annual tax
sufficient to pay annually the interest
thereon and the principal thereof
! within and not exceeding ~thirty-four
years.
3. They, or certain of them, shall be
liable to redemption after ten years
from their date at the option of said
Board, and to provide for such re-
demption there shall be included in
the annual lew for school purposes
in said district a special bond levy,
commencing with the YEA 1909 and
continuing each year thereafter until
the bonds are all paid. the sum of
fifteen hundred dollars which shall
constitute a sinkin5 fund for the pay
ment of the principal of said bonds,
and which fund shall he invested I'M
der the direction of said Board until
the LIST daysof January, 1919, at which
time the same shah be applied by said
Board to the redemption and payment
of bonds, beginning and continuing
with those coming first in the order
of numbers; there shall also be in
Guided in such levy a sun sufficient
to pay the interest upon such bonds
as the same may become due and
| payable. Under the orders OF the
Board. the secretary thereof snail
give notice each year by publication
give notice each yeat by publication
to the holder o holders of the bonds
TO be redeemed that on and after a
day named the designated bonds,
any accrued and unpaid interest, will
be paid upon presentation, and that,
if unpresented, they shall cease to
bear interest n month after the last
publication of such notice, said pub
LEGATION shall be in one or more news-
papers published in Berkeley county.
w. Va, for three successive weeks
prior to such named day, and no in
terest shah be paid after the eXpira-
ton of one month from such last pub
LEGATION. In each annual levy here
after, under the title Special Bond
Levy" there SHALL be included, as
aforesaid, a sun of money sufficient
to meet the accruing interest on said
bonds which shall be collected and
applied accordingly. The money so
ieyied and collected for principal and
interest on the bonds shall be applied
to that purpose and no other,
6. Beginning with the first day of
January, 1919, the annual special bond
levy of $500 on account of princi-
pa. above mentioned shall cease to
be turned into the sinking fund and
be applied directly upon its collection
to the redemption of bonds and so
continue from year to year thereafter
until all are paid,
Z. 1t is further ordered that the
proceeds of said bonds shall be used
for the purpose of building, compile
ting, charging, repairing and furnish
ing schooi houses in said town oil
Aartinsburg as follows, to-wit:
(a) The erection and equipment o.
a new school building on the present
site of the Third Ward School at al
approximate cost of $780, 10000:
eb) The erection and equipment o
a four-room addition 20 the presen
Eoirth Ward School buildino.