The Fairmont West Virginian. (Fairmont, W. Va.) 1904-1914, 1912-01-09
THE HIP op 3
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:
district i IS shown Ds
the last assessment Of property ior
State and county purposes. and that
two aud a half per ceptqm Of said
sum, which IS $751; s8o.54. represents
the amount Of the total bonded IN
debtedness which under the law. the
district might issue 49, ;y...-
And II further appearing that tne
bonded indebtedness now outstanding
is only $l4S.eo8,G0. leaving the amount
OF bonded indebtedness authorized BY
law to be incurred b. said district far
in excess Or The aggregate bonded in
debtedness and the proposed issue Of
lj$140.ooO.OO, - - .-.. (
I Upon, .dolsideration whereof Y is
ordered HAT; subject to the vote OF the
people of the district, this Board issue
and sell bonds to the amount In the
aggregate Of s14O,OOO00 for the pur
poses aforesaid.
Said bonds shall be issued in the
amount Of ore hundred dollars. OF
multiple thereof. for sum in the az.
.gregate Of s14OOOO.OO, bearing date
the first day OF June, 1912, and paya,
BILE to bearer thirty years after the
date 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 part
thereof interest coupons for the
amount OF each iateresttpayment. The
bonds and coupons shall be signed by
the Board of Education of Fnrmont
Independent School district, by Its
president and secretary, With the pro.
viso in the bonds that said Board OF
Education shall haze the rlghtNat any
time after 10 years, from the date 81
said bonds, to, call in and pay At sn g1
redeem them, or any pars Of them, and
to discharge. itself from any further
liability arising from said bonds 50
paid OF and redeemed.
The plan to. meet the accruing IN
terest on said bonds and to pay them
at maturity is, thatit shall be the duty
of the Board OF Education OF sale. dis
trict in the annual levy for the build;
ing fund in said district. TO provide
flor the interest on said bonds, togeth'
er with an additional sum to, be set
apart at interest annually. as sink
ing fund. sufficient on or before the eS;
piration Of the term Of thirty years
to nav off and discharge the said bonds
al. that time. Or. at the option Of the
saidS Board, after fifteen years from
|thesdate Of said bonds, 1t may select
BY lot or by the, consent Of the holder
such bonds by number in the asgre'
gate as amougsss to. the. sum already
accumulated or set apart. or that may
hereafter be, set apart, as a sinking
fund al. aforesaid and apply said sum
so setsapart annually to, the payment
ot the. laid bonds SO selected; ana
when paid, the same shall be duly
cancelled.
For This purpose the Board OF Edut
cation, II necessary may levy~9 an ad'
|ditfonal rate above that prescribed BY
the general law, not to exceed ten
Gents on each one hundred dollars
valuation.
That all questions connected with
the ipcurrlng OF said Indebtedness, the
issue and sale of said bonds and the
payment thereof, shall be-. and the
same are hereby, submitted to d, vote
Of the qualified voters Of said district.
at a special election, 10. be held on
Saturday, the 9th day Of January,
1912, al the. various voting places N.
said district, as follows:
Normal school building, Mayor Of.
flee. Second ward school building
Fifth ward school building, Barns
vile school building, and Fleming
schco! house.
The ballots used at said election
|, shall have written or printed thereon
the words FOR RATIFICATION"
.'FoR REJECTION" and the ballots
cast shall be counted and the results
ascertained as prescribed by law by
the officers Conducting the said cleo
ton, and the election officers shall re-
turn the poll books, tally sheets, bal
lots and certificates Of the result with
| in five days after said election to the
secretary Of this Board, and upon a
canvass Of the returns of said election
by this Board. acting as a canyasslng
board Of said election, If 1t shall ascer'
H.. akEAn