The West Virginian. [volume] (Fairmont, W. Va.) 1914-1974, 1915-03-09


is hereby authorized TO enact, shall
perform the duties here required to
be performed by the treasurer.
Section 11s. 1t shall be lawful for.
the city OF Fairmont 10 issue and
sell its bonds, as provided In this act
for the sale Of other paving and sew
er bonds, to pay the city's part OF the
cost OF the construction OF said sew.
ers and the paving or other perma-
nent Improvements of said streets and
alleys, as required by this act: and
said city may levy taxes, In addition
to all other taxes, authorized by the
law, TO pay such bonds and interest,"
thereon: provided. that the total in,
debtedness OF the city for all purposes
shall not exceed i've per centum of
the total value OF all taxable property
therein.
1t is especially provided that no
bonds shall be issued under the pro.
visions OF this act, unless and until
the questions OF issuing said. bonds
shall have first been submitted TO a
vote of the people OF said city, and
shall have received three.ffths OF all
votes cast at. said election for and
against the same. The board Of di.
rectors of said city may provide by or
dinance for submitting to the people
at any regular election, or special cleo.
ton called for that purpose. the CUES.
ton of whether or not said city shall
be authorized to issue bonds for the
purpose specified In this act; but the
ordinance relating to the issuance of
said bonds, and the submission of the
same to the vote OF the people need
not specify in detail the location OF
the improvements contemplated to be
paid out OF said aggregate issue author.
lied thereby: and II at such election
the people, by their vote thereon, shall
authorize the Issuance OF said bonds,
said board OF directors may order the
sale OF same, as needed for said i'm.
provements, dealing with all the re.
qulrements set forth In this act; and
notwithstanding the provisions Of sec.
tions two. three and six Of chapter
forty.seven.a OF the code, Il shall be
sufficient description of the purpose
for which said election is held for tho
ordinance calling same, or submitting
said question to vote at any general
election, II 1t shall recite that it au.
thorizes the board Of directors TO issue
bonds for the purpose Of grading. paw
ing, curbing, sewerlng, orctherwise
permanently improving the streets,
roads and alleys OF said city, tsuch
times as TO the board OF directors
shall seem fit or expedient.
The provisions of CHAPTER forty.sev.
cn.a OF the code. concerning bond cleo.
tions, shall, SO far as they are not in
comet with the provisions OF this chap.
ter, apply TO the bond election and
special bond election herein provided
for.
Section 100. For the purpose of
leasing, purchasing, or erecting, own
ing. maintaining and operating sys.
ten OF water works for the city and
the Inhabitants and industries thereof,
and the inhabitants and industries oil
any territory adjacent TO the territory
of the city OF Fairmont, which the
board OF directors may from time to
time agree 10 supply from the city
water works, as provided for In this
or any other act OF the legislature,
said city OF Fairmont is hereby author.
lied to issue and sell its bonds, which
Shall bear interest not TO exceed six
per cent per annum, interest payable
annually, by which to procure funds
for such purpose; and for said purpose
the city may issue and sell its bonds
TO an amount equal TO two and one.
half per centum on the taxable prop:
erty therein in addition TO the aggre.
gate OF its debts for all other purposes,
and OF every kind whatsoever, and es:
pecially In addition to the bonds and
other debts provided for and referred
to in section seventy.nine OF said chap.
ter three OF the acts OF one thousand
nine hundred ard nine. Provided,
that the total OF Indebtedness OF said
city for all purposes shall not exceed
five per centum of the total value OF
all taxable property therein.
But said city shall not make such
issue and sale OF bonds without at the
same time providing for the collection
OF direct annual tax, sufficient to pay
annually, the interest on such debt
and the principal thereof within and
not exceeding thirty years; and for
the purpose OF aiding in the payment
OF any bonds issued under the provis.
ions OF this act, to enable the city to-
lease, own, operate and maintain a
water works and system, the board of
directors Of the city are hereby author.
lied to lay levy of not exceeding len
cents on the on hundred dollars valu.
alton Of all taxable property in the
city, which said levy may be in addi-
ton to the aggregate of all other levies
authorized by law; and any revenue
derived from said water works over
and above the Expense of operating and
maintaining the same. shall be applied
to the payment Of the bonds issued
therefor.
In the Issuance and sale Of said
bonds the provisions OF section eighty.
five Of said chapter three OF the acts OF
the legislature OF one thousand nine
ard nfpa and the refnranreu