The Fairmont West Virginian. (Fairmont, W. Va.) 1904-1914, 1910-05-03
LEGAL ADVERTISEMENT.
REORGANIZATION.
sy the Mayor cf the city of Falrment,
West Virsinla

x
fpasspl April 20, 1911
yyHERflAS at a ~ Mar msesln q tlle
Common Council 81 the City pt aiftlq4 {,
West virginia! held at the council ebatn
her ~ said the day u
providing for the Issue and sale 81 bonds
Tor the extension and iunrovpIneft Of the
water works system Of the City of Falr.
mont, ana the construction o. 9 nfidse ~
Fourth street. 10 said city. y was duly adopt
"a and passed By said council. and ls ~ the
words and figures following, that Is 20 say.
IAN ORDINANCE providing fOt. the issue
n and sale Of bonds for the extension and
improvement Of the xateri WORKS s Y
TEN Of the City Of Faitmont, and ne
construction Z a. q bridge ar Fnurtb
Street In said City. ~
WHEREAS. It Is expedient and necessary
for the. health and. comfort and wen being
Of the citizens and residents % tue city NJ
Bairmont that certain extensions and I'M
proyements should be made tn the water
system Of said City. including the removal
or the pump station 80 rs n secure the
water supply from the Valley River. and
WHEREAS, II Is likewise cxpedient and
necessary for the comfort and convenience
OF the citizens and residents Of said City,
that 4 bridge be constructed. connecting the
Fourth and Fifth Wards 0f the said city
at Fnufth street. and.
WHEREAS, II Is estimated that said linz
provements in relation to said water system
can be made for the sum Of S8S.000. and
mat the said bridge can be constructed Tor
the sum OF $1,000, and that to carry out
the said objects 1t is necessary and e1pedl.
ent that the said City OF Fairmont should
issue and sell Its bonds to provide money
sufficient for the purposes aforesaid, and
WHEREAS, The said City may. lawfully
issue and sell its said bonds in said amount
without exceeding. together with Its exist
ing Indebtedness Of NIL Other kinds, the
amount prescribed BY lay, THE, Thsrefo on;,,,oN
CoIiNcIL OF THE CITY OF FAIR.
First: That the city OF Fairmont do Is.
sue Its bonds for sum In the aggregate
not exceeding $4,000. the same to bS OF
nr muItiplles thereof. which. bonds shall bel
dated on the first day Of August, 1910, and
shall be payable thirty years after the date
thereof, with interest from said date at
the rate Of 8 per cent per annum, which
Interest shall BE- paid annually Eaeh OF
said bonds shall be numbered and attested
by The City OF FairmOnt By Its Mayor. and
c0uDteEsigned by Its City Clerk. ana snail
contain a provision semhCaeed therein that
said bonds shall not BE- liable to taxation by
the said City : and that said City shall. By
an order Of Its Common Council. have the
right at any time after ten years after the
date Of said bonds to call In and pas on anu
redeem the same. or any part thereoI: and
discharge Itself from any further liability
arising from said bonds 50 paid on and
redeemed by the payment OF the princlpal
and Interest due thereon at the date OF said
payment.
Second: After said bonds shall be issued,
no more OF them shall be sold than may BIZ
necessary TO realize sum Sufficient for
the improvement and extension OF the water
works system aforesaid. for the construc.
ton Of which the aggregate sum expended
shall In no case exceed the sum Of $BSOOO
and for the construction OF said Fourth
street bridge. for which the aggregate
the sum Of $1,000: and none OF said bonds
shall be sold at less than par value.
Third: That the earnings of the Fair.
mont Water Works system shall be used
and applied as far as practicable, to the
vide for Sinking Fund sufficient, in
amount to pay cd and take. up the said
bonds hereby authorized. TO the amount Of
$Bs.10l; and. FURTHER, that there be
levied by the Common Council Of the City
OF FalrmO1t q direct annual tax of not
exceeding ten cents, on every one hundred
dollars assessed value. Of property within
said. City over ana above the annual levy
for other purposes, until all OF said bonds
above authorized, with interest. are paid. !
being an amount sufficient to pay only the
thereof as required by law, by 1.-The creation
each year over and above the interest Of
said bonds, Of a, sinking nfund sufficient tn
pay Oh the principal thereof In nthtriy
years. which said sinking fund shall be, kept
Invested under direction OF Council at not
less than per cent interest until the same
shall be. used 10 the, redemption OF said /;
bonds. 9fs ~ - gso .JtgS |
I Fourth: The form. Of the sald bond. TO;
Rether with the coupons thereto attached,
shall Nc as follows: 4aa8.I. .fGi !
II AIn.k