West Virginia argus. [volume] (Kingwood, W. Va.) 1877-1946, 1914-08-06
PROCLAMATION AND NOTICE OF
ELECTION FOR SCHOOL BOND
ISSUE and IEvY'
To The Qualified Voters Of Valley Dis
trIci. In The County Of Preston and
State OF west Virginia
TAKE NOTICE :

OF Education OF Valley district, in the
County OF Preston and State OF West
Virginia, held on the Twenty-fifth day of
July, Nineteen Hundred and Fourteen.
the following order was adopted and
entered OF record. namely:
IL appearing 10 the Board of Education
oil Valley district, that to accommodate
properly the youth OF school age residing
IN said district il is necessary to issue
bonds in the sum OF $25, 900. 90, as pro-
yided by Chapter 30 OF the Acts of the
Legislature, 1911, in order to procure
money Tor the purpose Of building, com
pieung, eniarglng, repairingand furnish
ing the school house or the school houses
In said District; 70 having been deter
mined that this purpose bonded indebted
ness together with the present existing
Indebtedness, do not exceed ~ per CEN
tum ofthe value OF the taxable property
In said district, as ascertained 10y the
last assessment, for state and county
taxes; and said Board OF Education be-
ing OF the opinion that the maximum
rate OF levy provided for i'm Section 81
OF Chapter q, Acts OF the Legislature,
Extra Session, 1908, will not produce
sufficient funds to pay the interest on
said bonded Indebtedness, and provide a
sinking fund for the discharge of the
principal i'm the number of years authori-
zed by the issue OF said proposed bonds
without laying maximum special bond
levy as hereinafter mentioned to pay the
interest and provide sinking fund
Therefore in pursuance OF the foregoing
and said Chapter 40 of said Acts of the
Legislature of 1911, is hereby resolved
and ordered that the Board of Education
OF said Valley district do borrow money
IN the sum of S25, 10000 and issue and
sell bonds To raise said amount for the
purpose oil building, completing, enlarg-
ing, repairing and furnishing the school
house or houses in the Town of Mason
town in said District.
And To provide more definiately con-
corning said bonds is further ordered
SAID bonds shall be $50 in number
OF the denomination of 500. 90 each. and
numbered iron one to two hundred and
NIFTY consecutiyely, making the aggregate
100000
2 Said bonds shall bear date of the
First day OF September, 1914, and be
payable on the First day of September,
1884, at the Farmers Il Merchants Bank.
In the Town OF Reedsville, West Virginia
and shall bear interest from their date at
the rate of five per centum per annum
they shall have coupons attached for the
payment Of the interest thereon, and the
same shall be paid annually at the same
place that the bonds are payable, on the
iirst day OF September, and so on, for
each succeeding year until the bonds
mature, unless sooner redeemed or can
celed pursuant to law.
3 Said bonds shall be payable to
bearer by 1.-The Board of Education of
said Valley district" in the County of
Preston, State of West Virginia, and
shall be signed by the president and
secretary respectively 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 off when
paid.
4. Said bonds shall refer on their face
to Chapter ~, Acts of the Legislature of
West Virginia, Extra Session 1908, under
which they are issued, and shall contain
a reservation OF tine right of said Board
pay oil and redeem the same, or any one
or more OF the same, after ten years from
date OF issue as provided by this order;
and shall also state that provision has
been made for the collection OF n
a direct annual tax TO pay annually the
interest thereon and the principal thereof
within and not exceeding thirty-four
years.
D Said bonds, after having been adver-
tlsed IN some convenient newspaper for
four weeks previous TO such sale, shall
be sold at public sale to the highest bid
Ger In writing Tor cash at not less than
their par value, and the proceeds arising
from said sale OF said bonds shall be used
for the purpose of building, completing.
charging, repairing and furnishing the
school house or school houses in the Town
OF Masontown in said District and Town.
And 1t Is further ordered that a direct
annual tax be collected in said District
sufficient to pay annually the interest on
SAID bonds and the principal thereof
WITHIN and not exceeding thirty-four
years from date OF said bonds. and. for
said purpose an annual maximum special
bond levy of 10 cents on the one hundred
dollars valuation on all of the assessable
property in said District is hereby author
lied TO pay said interest and provide
sinking fund to pay the principal as re-
CURED by law; and, as hereInbefore
stated, said bonds shall be subject to re-
demption, after ten years from their date
at the option OF said Board. The Score
tary by order OF the Board shall each
year give notice by publication to the
holder or holders OF the bonds to be re-
deemed that on or after a day named.
the designated bond or bonds, with any ac-
crued and unpaid interest will be paid upon
presentation; that if not presented they
snail cease To bear interest after the last
publication OF said notice; that said no.
tee shall be published for four success
slve weeks in one or more newspapers in
Preston County prior TO such designated
dag oil payment. The money so levied
and collected to pay the principal and in
terest on said bonds shall be applied TO
that purpose and no other; but said bonds
shall not be Issued and no sale thereof
shall be made until all questions con-
nected Herewith shall have been first
submitted TO vote OF the people OF said
Valley District at an election held for
that purpose, and shall have received
three hiths OF all the votes cast for and
against the same.
IL Is therefore ordered that the presi.
dent OF the Board OF Education OF said
Valley District be and he is hereby
authorized and directed to issue procla-
nation 10 be published and posted ac-
cording 10 the provisions OF Section 23.
Chapter p, Acts Of the Legislature. Extra
Session 1908, appointing a time and the
places at which an election for that DUR
pose shall be held by the qualified voters
OF said Valley District % decide whether
they will ratiiy or reject this order. and
said proclamation shall also specify tine
aggregate amount Of indebtedness exist
ing against and authorized by said bis.
trct at the date of said proclamation.
The Secretary Of the Board Of Ehucation
Of said District is hereby authorized and
directed 70 procure and furnish 10 the