West Virginia argus. [volume] (Kingwood, W. Va.) 1877-1946, 1915-11-18

poll books, ballots, etc, as may be
necessary for the purpose OF taking
and certifying said special election:
the same to be delivered by him to
said commissioners of election. The
said ballots shall have printed there
on. directly over the words For
Bonds" and Against Bonds" the fol-
lowing words. namely: SPECIAL
ROAD BOND ELECTION, KINGWOOD
DISTRICT, held by order OF the Coun-
ty Court of Preston County, West Vir-
GINA, entered on the End day OF No
vember, 1915, in compliance with the
petition of more than fifty freeholders
filed with the Court. asking for a spec
ial election to authorize the issuance
OF bonds in the sum of One Hundred
Sixty Thousand Dollars. according TO
law, to improve the roads of said dis
trict specified"
1t is further ordered that, in the
event OF the electorate of said district.
at said election, authorizing the issu-
ance OF said bonds, that the president
or this court, be, and he is hereby
authorized and directed to execute
the bonds OF said Kingwood district,
Tor and in the name of the district
and to sign the same as president of
this court, and the clerk of this court
Is hereby directed and authorized to
countersign said bonds and attach the
seal OF this court thereto, which said
bonds shall be, by the president OF
this court, in conjunction with a COM
mittee OF three citizens of Kingwood
district, appointed by an order of the
court, which committee shall serve
without compensation for service rem
dered, to confer with the county court.
In all transactions pertaining to the
sale OF said bonds and the expendi-
lures OF the proceeds, etc, sold and
delivered under the supervision of this
court, and the president thereof; said
bonds shall be sold and disposed OF to
the best advantage of the said dis
trict in such manner as the president
and committee may deem best, but in
no event shall said bonds be disposed
| of for sum less than their face value
Said bonds so to be issued, shall be
serial coupon bonds OF the several de-
nominations OF five hundred ($5OO) dol
lars and one thousand Isl ,000) dollars
Dut not to exceed in the aggregate one
hundred and sixty thousand dollars
ana shall be issued and dated January
LIST, 1916, and be payable to bearer at
The Kingwood National Bank, The
Bank OF Kingwood, in the town of
kingwood, West Virginia. or at The
Tunnelton Bank, in the town of Tun-
Melton, West Virginia, at the option
of the holder, thirty-four (3D years
after date, but conditioned that they,
or either of them, may be recalled
serially, and paid at the option of said
| district or at the option of this court.
on the first day of January, 1921, and
| each year thereafter, on the same
| date, the owner being given 60 DAYS
| notice OF said districts or said courts
election TO redeem said bonds by pub
ilcatlon in one or more newspapers
published In Preston county, West Vir-
| ginia, by describing the bond or bonds
| so called for redemption and giving
the serial numbers thereof, and the
bonds shall show on their face their
serial numbers redeemable on each
| annual period, and shall bear interest
at per cent per annum, payable semi
annually at the said The Kingwood
National Bank, The Bank of King
wood, in the town of Kingwood. West
Virginia, or at The Function Bank.
In the town of Tunnelton, West Vir-
ginia, at the option of the holder.
and that the said interest be evidenced
by coupons attached to said bonds.
ana the said coupons to be executed by
facsimile signatures of the president of
this court and the clerk thereof
The plan to meet the accruing in
| terest on said bonds and to nav them
at maturity by said district is. il shall
be the duty of the County Court of
Preston county, to, and said court
shall, each year, at the annual lew
Tor road purposes In said Kingwood
district, provide, by direct levy and
taxation as is required by law i'm such
| cases made and provided, for the in
terest on said bonds, together with an
additional fund to be set apart AT in
terest, annually, or used to purchase
and retire bonds. for the purpose as
a sinking fund, sufficient on or before
the expiration of the term of tbirtv-
four t34) years therefore and fully
discharge said bonds at that time.
III Is further ordered by the court
that in the event of said bonds being
disposed OF as aforesaid, the proceeds
snail be by the purchaser thereof MAC,
ed i'm the hands of the sheriff of this
county and II is further ordered that
the said sheriff. for the receiving and
dlsDursing proceeds, shall receive no
compensation or commission therefor.
ana me said sheriff shall deposit said
proceeds in each of the banks doing
business IN the said town Of Kingwood.
and 10 the TunneltOn bank. doing bus
mess in the town Of Tunne1ton West
Virginia, I'm the manner prescribed hv
law, and the said banks be renuirod
20 give security thereter as provided
by Law FN'NsH
II IL also apparent 10 the court and
inc court being of the opinion that tho
maximum rate OF levy IN the soid
hlnBWood district. which the court ls
duthorlled TO lay, as provided I'm sec
lions 2, and 4 OF chapter Q Of tho
ACTS OF the Legislature Of West Vir
ginia, extra session Of nineteen bun-
dred eight. will not produce suficion,
funds TO pay the interest ON sucb nro,
posed bonded Indebtedness Of ono bnn
dred sixty thousand dollars and 90
provide sinking fuud Tor tina az
charge OF the principal thereof t.,
thirty-four (3D years: and n fnrthcr
appearing TO the court and tho conr,
hoth 80 find that the maximum low
necessary each year during the said
IhFty-tour t3D years. 10 paw the said
interest and TO provide a sinking fund
on SAID proposed bond issue of ono
hundred and sixty THOUSAND dollars n
tnree and 0ne-half (8tkl mills ON escn
one $1,000 dollar valuation or TAXABLE
property IN said KinRwood dlstrict
The County Court therefore doth born.
by order and direct that vote Of tho
legal voters be taken I'm said magic
terial district OF Kingwood i'm The
county OF Preston, In the said State Of
Wost Virginia. aB WV ~ /
TUESDAY, THE 7TH DAY OF pE-
GENDER, 1915,
on tho ouooffo,, ~ o..tt. - -