Wheeling majority. [volume] (Wheeling, W. Va.) 1907-192?, 1915-05-06

VI way ana OLher properties AeCos- i,
sarily incident to the installation
! of the said Smith Slow Sand Fill
| tration System $40, 100000.
The proceeds arising from the sale
OF said bonds shall be paid out by the
! commissioners to the amount fol
| which it is hereinafter provided thai
they shall be issued for the purposes
herein provided, and to such perosn O.
persons as the council OF said city
shall from time to time direct, but only
for the purposes aforesaid; and pend
ing such paying out such proceeds
shall be deposited in such bank OF
banks of the City of Wheeling as the
Board of Control may designate; and
said Board of Control shall designate
such bank or banks after every bank
of the said city has ten days notice,
in writing, of opportunity to bid on the
lale of interest to be paid for the
same. On the tenth day all bids re
ceived shall be oENN,d, with opportur
/ ity to each bank to have represent
alive present at the said opening. The
Board Of Control shall TIM designate
the highest bidder to be the depository
of this fund; and if two or more bids
are the same and higher than any
others, the said Board of Control shall
order the distribution of said funt
among the banks making such -highes
bids. Provided, however, that no biz
Of less than 8 per centum per annun-
shall be considered.
Sec. 4. And there shall be annually
'ilevied by the council of the City
Wheeling, at the same time that thu
'arual levy of city taxes for other pur
noses is made, until all of the bont
issued under the provisions of this
| dinance, and all interest on the SAM
are paid, a direct tax upon all req
estate and personal property assesse
by the said city for taxes which dlrec
tax shall be levied as a separate taN
and in addition to all other taxes tina
may be levied for the benefit of said
city, and which shall be sufficient to
n produce in each year until and includ-
II ing the year 1949, sum sufficient to
pay the interest annually accruing up
on the said bonds so issued, and Whlc
levy shall, after the year 1924, unit
the said bonds shall be fully redeemed
| and satified, be sufficient to pay an
| nually the interest on such bonds as
shall be unredeemed, and in addition
thereto to redeem in each year there
after one-twenty4fifth Q-25) of sale
bonds issued hereunder and not paid
before the LIST day of July, 1873. Tht
said tax shall be collected in sue
manner as is or may be provided by
law and the ordinances of the sale
city for the collection of other taxes
on real estate and personal property.
The Treasurer Of the said city shall
pay into the treasury at the same
time and in the same manner as he is
now required by law to pay over taxes
collected for said city for general pur.
poses, the total amount which he shall.
have collected of the taxes levied and
assessed in pursuance of the require
mnts and provisions OF this ord1n-
ance. The said taxes shall be by the
treasurer while in his possession, and
~ the city depository into which the
same are paid, kept and accounted
separate from all other moneys OF the
said city of Wheeling.
Sec. 5. The Treasurer Of the said
city of Wheeling shall, on or before
he 18th day of June, 1916, and on OF
,efore the 10Th day of June in eacl
md every year thereafter, until the
,onds issued hereunder ar fully paid
III, pay to the said commissioners all
IL neys which shall have heretofore
been paid into the treasury upon and
IN account of the direct taxes levied
in pursuance of the requirements of
this ordinance. While the said funds
remain in the treasury, it shall be the
duty of the council and City Treas
urer to keep the same deposited If
some bank or banks of the city of
Wheeling at the best rate of interest
they can obtain, which interest shall
be accounted for and paid over into
the treasury upon making payments
to the commissioners of the principal
of the funds derived from such taxes
The receipts of said commissioners
for moneys shall be filed by the Treas
urer with the Auditor of said city and
shall by the said Auditor be pre-
| served.
Sec. IS. The said commissioners out
of the moneys received by them under
this ordinance shall pay the coupon.
| issued with the bonds issued under
this ordinance as they become due on
| the LIST day of July, 1916, and on the
} 1st day of July in each and every year
| thereafter until the bonds bonds is
sued hereunder are fully paid; and on
the 1st day of July, 1925, and on the
LIST day of July in each and every year
Hereafter until the bonds issued here
under are fully paid they shall apply
the money coming into their hands for
that purpose to the payment Of the
outstanding bonds issued hereunder
at rate not greater than their par
value with interest, if any, accrued
and unpaid. The bonds to be redeem
ed shall be determined by the COM
missioners annually; that is to say
on the hlth day of June, 1918, the said
commissioners shall determine the
bonds to be redeemed on the follow
ing st day of July, and on the 25th
day of June in each and every year
thereafter until the bonds issued here
under are fully paid. the said COM
missioners shall determine the bonds
to be redeemed, on the following LIST
day of July, and the said commission
ers shall thereupon Immediately give
notice to the holders thereof by ad- |
vertisement published daily, Sundays |
excepted, for two weeks in the daily |
newspapers printed and published in |
the city Of Wheeling, stating the num-
Der of the bonds to be redeemed, that |
the same will be redeemed at the |