The Fairmont West Virginian. (Fairmont, W. Va.) 1904-1914, 1912-04-27

Board Of Edlcation 81 said Union In
Edspeadeat school district 40 borrow
money Ii the sum Of $l5, 100000, and
tissue and sell bonds to raise said
amount for the purpose OF building,
complet ing, charging. repairing and
furnishing the school houses neces.
saryato accommodate the youth Of
school age within said district, accord
ing to the location and plans adopted
by said Board of Education for said
district.
Aud to provide more definitely con,
corning said bonds Il is further or
dered:
/. Said bonds shall be thirty in num-
Der Of the denomination Of $5OO.OO
each, and numbered from one to thlr-
ty, consecutively. making in the ag-
gregate SIS, 100000.
2. Said bonds shall bear dateson the
LIST day OF June, 1912, and be payable
on the S1st day Of May, 1916, at the
Peoples National Bank of Fairmont,
III the City Of Faigmont. West vir-
|Einfat aAdH shall Bear interest from
theft date at the rate 81 fys, per
centum Per anHum; they shall have
eeo1poRs attached toF the payment III
/ the Interest thereon, and the same
shall be nald annually at the same
place that the bonds are payable on
the S1st day of May, 1913, and so on,
for each succeeding year until the
bonds mature. unless sooner redeem.
ed or cancelled pursuant to law.
3. Said bonds shall be payable to
bearer by "The Board of Education Of
said Union Independent School dis.
trict" in the county Of Marion, State
of West Virginia. and shall be, signed
by the President and Secretary respec-
lively Of said Board, and the corporate
seal of the Board shall be affixed
thereto, and the interest coupons shall
likewise be so payable and bear the
engraved or printed signature of the
Secretary, and they shall be cut of
when paid. H. e5aa4S
4, Said bonds Shall refer on their
face to Chapter 81, Acts Of the, .Legis-
Iature of West Virginia, extra session
1908, under which they are issued, and
shall contain a reservation Of the
right OF said Board to pay off and re,
deem the same, or any one or more
Of the same, after ten years from, the
date Of issue as provided by this or.
Ter; and shall also state that proyl.
sion has been made for the collection
Of adlrect annual tax to pay annually
The interest thereon and the principal
thereof within and not exceeding thlr.
ty-four years.
5. Said bonds after haVlngibeen adj
vertised in some convenient ine~sba-
per for two weeks previous. to such
sale, shall be sold at public sale to the
highest bidder in writing for cash,
at not less than their par value and
the proceeds arising from said sale Of
said bonds shall be used for the pur3
pose OF building, completing, enlarg-
ing, repairing and furnishing the
school houses necessary to scommo-
date the youth of school age within
said district, according to the loca-
|tions and plans adopted by said Board
of Education for said district. And 1t
is further ordered that direct annual
tax be collected in said district suffl.
Gent to pay annually the interest on
sand bonds and the principal thereof
within and not exceeding thirty-four.
years from dateoof said bonds and. for
said purpose, an annual maximum spe.
7eial Buhdlevy Of five cents on the one
fuhdted dollars Valuation on all Of
Inc assessableo property in said dis
trict is hereby authorized to pay said
lnterets and provide a sinking fund to.
pay the principal as required by law;
and, as hereinbefore stated, said bonds
shall be subject TO redemption, after
ten years fro mthelr date, at the OPP.
ton Of said Board. The Secretary by
order Of the Board shall each year
give notice by publication to the hold.
er or holders OF the bonds to be re.
deemed that on or after a day named,
the designated bond or bonds. with
any accrued or unpaid interest will
be paid upon presentation; and If not
presented tliey shall cease to bear in.
terest after the last publication Of
said notice: that said notice shall be
published for two (2l successive
weeks in one or more newspapers in
Marion county, prior to such designat,
ed day Of payment The money so
levied and collected to pay the princi.
nal and interest on said bonds shall
be applied to that purpose and no 9th.
err; but said bonds shall not be issued
and no sale thereof shall be made un:
til all questions connected herewith
shall have been first submitted to a
vote Of the people Of said Union indie,
pendent school district at an election
held for that purpose and shall have
received three.fifths Of all the votes
Tor and against the same.
1t is therefore ordered that the
President OF the Board OF Education
Of said Union Independent School dis.
trlct be and is hereby authorized and
directed to issue proclamation 10 be
,,,,,,,,.s -, ,,os+ad onnnrdinp RI rho