Martinsburg statesman-democrat. [volume] (Martinsburg, W. Va.) 1906-1921, 1909-11-12

thirty one, article ninteen, chapter
six Of the Acts of the Legislature of
West Virginia, Of 1909. The bonds
given as provided in this section ehall
be approved by the Council; the
amount of such bond shall be fixed
and determined by the Council from
time to time. The premium upon the
bonds shall be paid by the City Of
Martinsburg and the Board of Affairs
are hereby authorized to pay such pre-
miup upon the bonds that may be
given by the said com missioners from
time to time.
Sec. 4. The said sinking fund here.
after provided for shall be kept by the
commissioners for the purpose for
which the same is levied aud collected
after being paid over to them, and
they shall pay such part thereof, OF
all Of 1t, only upon the special warrant
of the Boa 4 OF Affairs directed to
them and specifying that the amount
Is TO discharge So much Of he princi-
| pal Of said bonds, when the amount
therein specified shall be paid to the
/ treasurer of the City of Martinsburg,
for the purpose of discharging the
principal or part oft, of said bonds.
| The commissioners shall make re-
| port in writing to the Mayor of the
| City of Martinsburg ut least once IN
each yea which report shall embody
all things done by them during the
preceding year. The report when made
shall be transmitted ty the Mayor to
the Council of the City of Martins
burg.
See. 8. That the maximum rate of
/ levy which the council of the City of
Martinsburg may now levy for general
purposes under the Charter Of the City
Of Martinsburg will NOT produce suffi-
Gent funds to. pay the interest on such
bonded Indebtedness hereby created
and provide sinking fund for the
discharge of the principal in thirty
four years. That a sinking fund be ere
ated for the redemption OF sale bonds
and that the Council shall provide for
the collection of direct nnual tax to
pay annually the interest on said bonds
and the principal thereof at maturity,
and for that purpose may direct rate
Of levy each year up TO an amount of
five cents, which rate oflevy may pro-
duce sufficient funds necessary in eac h
year to pay the interest and to provide
such sinking fund.- but before the
Council shall make an additional levy,
a majority of the votes cast for and
against said levy rs provided In the
succeeded section shall be in favor of
such authorization.
Section 8. The Mayor shall issue
proclamation reciting this ordinance
and appoint day on which an cleo
ton shall be held by the quail
flied voters of said city to determine
whether they shall reject or ratify
this ordinance; and he shall also spec
lily in said proclamation the aggregate
amount OF Indebtedness of the said
city issued, authorized and existing at
the date OF the proclamation This
proclamation shall be published in all
the newspapers published in the City
OF Martnsburg, at least once week
for four successive weeks, the first
publication thereof beng at least thir-
ty days before the date fixed for such
special election, and such proclama-
tlon shall be posted at the same time
at the front door of the County Court
House OF Berkeley County, West Vir-
ginia, and at the front door of the
City Hall OF Martnsburg, West Vlr-
gfnla, and at place within each vot-
ing precinct the Mayer may designate.
The said election shall be held and
conducted IN the same manner as other
municipal elections Of said city are
held, and all persons qualified to vote
at snch elections of said city, and no
others shall vote at such election.
The persons voting for the rati tica-
ton OF this ordinance and for the au-
thorization of the bond issue snail
have written or printed on the ballots
the words "For Ratification, ;" and the
persons voting against said rat tica'ion
shall have written or printed upon
their ballots the words" ForRejection. )"
There shall be printed on the ticket the
following: "To authorize maxim um
special bond levy of five cents accord
Ing TO the ordinance of the Council of
the City of Martiusburg, passed on the
md day of September, 1903, TO pay the
interest and provide a sinking fund
for the discharge of the bonds ow be
ing voted for;' and directly under
meath, in two separate liues shall be
printed the words "For the Levy" and
against the Levy" Persons voting
for the. levy shall leave upon their bal
lots the words "For the Levy" and
the persons voting against such levy
shall leave upon theft ballots the words
against the Levy" The RESULT Of the
said election Shalt be certified in the
same manner as the result of the gen.
eral municipal elections is now certi-
fed.
sec. 7. The treasurer shall record
the same bonds IN the bond edger H.
his office IN their true numoers, i lies,
amounts, time when due, the name
and address of the purchaser aue. holt
ers 50 far rs known, aud tile therein
The bonds and coupons tahea up anr
Cancelled from time 10 time.
Section 8. This ordinance sh il b.
in force ald effect from AID al er IN,
tiRae the same shall have been duly
approved by the Board of Affairs OF
the Guy OF Martinsbarg and shall
have been ratified at the election pro-
vided for herein as to the authorization
OF the issuance of bonds by three tifths
of all the ballot cast for and against
tue same at SAID election, and by "a
| majority of the votes cast for aud
against the authorization of the maxi
mum special bond levy of five cents
l I.x.l 81.