The Fairmont West Virginian. (Fairmont, W. Va.) 1904-1914, 1913-04-30

Court, and it Is further ordered thai
the persons so selected as said Com
mittee are TO act without cOinpensa'
lion for their services rendered insdis
posing OF said bonds, which said bonds
shall be disposed OF in such mannel
as shall he by said Committee deter.
ed to be most advantageous to snid
District, but said bonds shall be solo
and delivered under the supervision
and direction OF this Court am the
President thereof, and, in mo event,
shall said bonds be DISPOSED OF for Q
sum less than their face value Said
bonds, so to be issued. shall be con'
pom bonds oothe several 'denomina,
Iiions Of One Hundred Dollars. Five
Hundred Dollars and One Thousand
Dollars, respectively, but not to eS.
ECecd In the aggregate -Four Hundred
Thousand Dollars ($400,OO0.OO), aud
ahall be issued and dated September
II, 1913. and be payable TO bearer at
the Office OF this Court thirty years
after date, bul conditioned that they,
or any OF them. may be recalled and
paid, at the option Of said District. or
at the option Of this Court. on Septem'
her LIST. 1893, or on any interest date
thereafter, the owner thereof being
given sixty days notice OF said Dis,
irEt'b or said Courts election to re-
deem such bond or bonds. by publlca-
ton in one or more newspapers pub
iiished in Marion county. By describing
the bond or bonds so called for re-
dGinptlon, said bonds to bear interest
al theirate of Five Per Centum per an
nun. payable annually, NJ said Office,
and said interest to be evidenced by
coupons to be attached to said bonds;
! The said coupons 10 be executed by the
Iac.simile signatures of the President
| oil this Court and the Clerk thereof.
The plan to meet the acCruing inter
| cst on said bonds and to pay them at
maturity, by said district Is, It shall
DO the duty Of the County Court ot.Ma;
rion County 10. and said Court shall,
each year, at the annual levy for road
purposes in said Fatrmont District,
provide, by district levy and taxation
Dis Ia required by law, in such case
made and provided, for the interest Oh
said bonds: together with an addition
| al fund TO be set apart at interest, an
niIally, for the purpose. as sinking
fund, sufficient on or before the expira'
tion OF the term Of thirty years to pay
therefor and fully discharge said
bonds at that time ~
It is further ortered by the Court
that, in the event Of said bonds being
disposed Of rs aforesaid, the proceeds
thereof shall be, by the purchasers
thereof, placed in the hands OF the
Sheriff Of this County, and It is fur
ther ordered that the said Sheriff, for
receiving ana disbursing said pro.
ceeds. shall receive no compensation
or commission therefor. And the said
Sheriff shall deposit said proceeds Iii
such bank or banks as he may be d..
rected by this Court so to do. and the
said bank or banks to be required TO
give security therefor, as the Court
so orders.
1t also appearing TO the Court, and
the Court being of the opinion, and
doth so find, that the maximum rate
Of levy in said Falrmont Districts
which the Court is authorized TO lay,
as provided in Sections 2; 8 and L. as
the case may be. of Chapter Of the
Acts of the Legislature OF West ytr.
ginIa, Extra Session, 1908, will not
produce sufficient funds 10 pay the III
tercst on such proposed bonded in.
.debtedness OF Four Hundred Thousand
Dollars hereInaboye provided for said
FaIrmont District, and to provide a.
sinking fund for the discharge OF the
principal thcreOf'.in thirty years; and
it further appearing 10 the Court, and
- .tsltf Z, 81 ~ ~.