The Fairmont West Virginian. (Fairmont, W. Va.) 1904-1914, 1911-12-26

49, - - 50 ~ n a II
BOARD Of * d.lcation Of said Fairnoht
independent school district. duly held
ion The 18th day OF December. 1911, a
Ireasolntion was unanimously adopted
by said Board, which resolution Is as
follows:
Whereas; On account OF the CON
slant and rapid increase OF the school
population in the district, and the un.
safe and inadequate condition OF the
Second ward grammer school build.
ing, as well as the crowded condition
OF the grammer school buildings in
the district, 1t has become necessary
and expedient to borrow money to pro.
vide a suitable. modern grammar
school building and fixtures to ade.
quately accommodate the school popu.
lation OF the Second ward OF the City
%, EIalrppnt. ip said district, and to
provide suitable additions to the gram.
mar school building in the Fourth
ward of said CITY. and the Virginia, ave.
nue. school building in said district,
and for such purposes 10 acquire adj.
ditlonal real estate and finish paying
for that already acquired by the
Board, and to provide suitable addi
tion and Improvements to the Barns
vile school property; and also to con.
struct and install In the High school
building OF the district proper heat
Ing and ventilating plant; the amount
from the current levies upon proper.
ties assessed In the district for State
and county taxes being insufficient for
said purposes
And, Whereas, It Is estimated chat
for the purposes aforesaid, II will re.
quire $l40,000.OO. and that man. cit.
zens OF the district have petitioued
and urged the Board to borrow said
sum, issuing bonds therefor, and that
the Chamber OF Commerce OF said
City of Fairmont. acting upon the in.
vestisatlon and information furnished
by its educational committee, has
adopted resolution requesting this
Board to issue bonds for the purposes
aforesaid. to the amount OF not less
than one hundred thousand dollars.
nor more than one hundred and fifty
thousand dollars:
And II appears that the total valua-
ton OF the taxable property In this
district Is $14,O7S.221.7O, as shown by
the last assessment OF property for
State and county purposes, and that
two and a half per centum OF said
sum, which Is 1851, S3O.54, represents
the amount OF the total bonded in.
debtedness which under the law the
district might issue:
And It further appearing that the
bonded indebtedness now outstanding
is only $143, 100000, leaving the amount
of bonded indebtedness authorized by
law to be incurred by said district far
in excess of the aggregate bonded in.
, debtedness and the proposed issue OF
$140,G00.OO.
Upon consideration whereof 1t is
ordered that, subject to the vote OF the
people OF the district. this Board issue
and sell bonds to the amount In tho
aggregate Of 100000 for the pur.
poses aforesaid.
Said bonds shall be issued IN the
amount Of one hundred dollars. OF
multiple thereof, for q sum in the ag
gregate OF $1iO,OOO.OO. bearing date
the first day of June, 1912, and paya
BILE to bearer thirty years after The
dale thereof, with interest from date
at the rate of five per centum per an
nun, payable annually on the first day
of June. Each of said bonds shall be
numbered and have attached as a par
thereof interest coupons for the
amount of each interest payment. The
bonds and coupons shall be signed BY
the Board of Education OF rairmon
Jndependent School district. by It!