The Fairmont West Virginian. (Fairmont, W. Va.) 1904-1914, 1912-05-04

feqpie National Bank lI raiiluo1
~ the Gus Of Felrmoni West vlF.
sinia, and shall hear inlrfes from
their dale At the fat6 q I'VE per
centum per annnnl: they shall have
COUPONS attached ior The payment Oh
the Interest thereon, and eie SANS
shali be paid annually At tiis same
place that the bonds are payable on
the 31st day Of May 1913. and 50 on,
for each succeeding year until 5he
bonds mature. unless sooner redeem.
ed Or cancelled pursuant 70 law.
3. Said bonds shall be payable to
bearer by ..The Board OF Education OF
said Union Independent: schooi dis.
trict.. in the county Of Marion, Stale
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 snail be cut OF
when paid. 81
4. Said bonds shall refer on their
face to Chapter "a. Acts of the Legls-
lnture Of West ylrginin. extra session
1908. under which they are issued. and
shall contain reservation OF the
right OF said Board to pay of aud re-.
deem the same, or any one or more
OF the same. after zen years from the
date OF issue as provided by this or.
der; and Shall also state that prov.
sion has been made for the collection
of direct annual tax 10 pay annually
the interest thereon and the principal
thereof within and not exceeding tiiir.
ty.four years. ~,
o. Said bonds after. having been :d.
vertised IN some convenient newspa..
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 pur.
pose OF building. completing. enlarg-
ing, repairing and furnishing the,
school houses necessary to acommo-
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 It
Us further ordered that direct annual
tax be collected In said district sutfi-
cient to pay annually the interest on
sand bonds and the principal thereof
within and not exceeding thirty.four.
years from date OF said bonds, and for
said purpose, an annual maximum spe.
cial bond levy OF five cents ON the one
hundred dollars valuation on all OF
the assessable property in said dis.
triet Is hereby authorized to pay said
interets and provide 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 op.
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 day named,
the designated bond or bonds, with
any accrued orsunpaid interest will
be paid upon presentation: and. II not
presented the: shall cease to bear in.
terest after the last publication OF
said notice; that said notice shall be
published for two (2) successive
weeks in one or more newspapers in
Marion county, prior to. such desfgnat-
ed day of payment. The money so
levied and collected to pay the princi.
pal and interest on said bonds shall
be applied to that purpose and no 9th.
er; but said bonds shall not be issued
and. no sale thereof shall be made I'm.
til all questions connected Herewith
shall have been first submitted to
vote OF the people OF said Union hide.
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.
: It is therefore ordered that the
President OF the Board OF Education
of said Union Independent School dis.
trict be and is hereby authorized and
directed TO issue d proclamation TO be
published and posted according TO the
provisions of Section 30. Chapter 81.
Acts of the Legislature. extra session
1908, appointing a time and the places
at which an election for that purpose
shall be held By the qualified voters Of
said Union Independent School dis.
trict, to decide whether they will Fat.
ify or reject this, order, and said proc.
lamatioh shall also specify the aggre
gate amount OF Indebtedness eyistfno