The West Virginian. [volume] (Fairmont, W. Va.) 1914-1974, 1916-11-28
CITY oRDrNANCEs

Bonds 6S1 to 672, inclusive. on
January 1, 1916.
Bonds 67S to ZIG, inclusive, on
January l. 1916.
Bonds III TO 76O, inclusive, on
January l. 1947.
SECOND. Said bonds shall be sold
and disposed of to the best advantage
Of said City in such manner as the
Commissioner OF Finance, or officer
in lieu thereof, may deem best, and
in conformity with the law in such
case made and provided, but in no
event shall said bonds be disposed OF
for less than their face or par value;
provided. however. no NOR Of said
bonds shall be sold than may be nee
essary 10 realize the sum sufficient
and purposes above mentioned.
The proceeds of the sale of said
bonds shall be deposited In banks to
he deslgnted by this Board OF Affairs
in the manner prescribed by law;
said banks to be required TO give Sc
curity therefor as provided by law.
THIRD. That all the proceeds of
the sal of said bonds when issued
and sold or so mach as may bC NC
rssarv thereof. not exceeding the sum
Of SEVEN HUNDRED AND SIXTY
THOUSAND ($76U.O00.00) DOL
LARS shan be applied TO the expense
attending the opening Widening and
improving OF streets. construction oil
bridge or FIJI across Coal Run. Con-
struction oil bridge across Mononga-
hela River, extension and improve
ment OF the sewer system of the City,
construction OF garbage plant. CON
struction OF East Side Fire Station,
the paving and improvement of pres
ent bridges, over Monongahcla River
and Buffalo Creek. payment OF float
ing Indebtedness, and the paymca. Of
the present outstanding bonded in
dehtedncss Of this City. az hcrninbc-
fore set Qua; of which said improve
ments that relating 20 Locust ATenur
and the Eighth ward section shall
first be done.
In case more bonds are issued for
the purpose aforesaid than arc ncccs-
.ary. such bonds shall be cancelled
BY the Board of Affairs OF said City,
or the body acting In lieu thereof.
FOURTH. That il shall be the
duty of the Board OF Affairs of this
City or the body acting in lieu there
OF, to, and the said Board of Affairs,
or body acting in lieu thereof, shall
each year. at the time required by
law. provide by levy and taxation, as
Is required by law in such cases made
and provided, for the interest on said
bonds. together with an additional
fund to be set apart and 10 be used
TO purchase and retire said DO is,
and for the purpose OF sinking fund
sufficient to meet each serial payment
and on or before the expiration Of
the term of thirty 900 years pay
therefor and fully discharge said
bonds at that time.
That the maximum rate OF levy IN
this city which said Board OF Affairs
is authorized to lay as provided in
Section OF Chapter of the Acts of
the Legislature of West Virginia, Ex-
traordinary Session. 1905, will not
produce sufficient funds % pay the
interest on such proposed indebted
ness OF SEVEN HUNDRED AND SIN
TY THOUSAND S76O,0GO.0O) DOL
LARS herein provided for and to pro-
vide Il Sinking Fund for the discharge
of the principal thereof in thirty 600
years; that the maximum levy neccs-
sary for any year during the said
thirty 900 years TO pay said interest
and to provide for each serial pay
ment of necessary sinking fund of
said proposed bond issue Of SEVEN
HUNDREJ AND SIXTY THOUSAND
rS760,000.00) DOLLARS is twenty
four CAD cents on each ONE HUN
DRIED ($100.00) DOLLARS valua-
ton of taxable property Of said City
over and above the annual levy Cor
othe- purposes; provided, however,
there shall not be levied in any one
year more than shalt be ncr assary to
pay the interest on said bonds and to
provide sinking fund to ray off the
said serial bonds as they respectively
become due.
FIFTH. The questions in connec-
ton with the issue and SALE OF said
bonds and the laying of an annual
levy on account of the same as here
inbefore set out shall be submitted to
the qualified voters of said City in
accordance with the statutes in such
case made and provided, at a special
election to be held for that purpose
only on Tuesday, the 5th day OF
December. 1916, at the several voting
precincts in said City, and the Mayor
is hereby authorized to issue his proc
lamation reciting this ordinance
therein accordingly as prescribed by
law, and that said clamation be
published in all the newspapers pub
lished in this City at least once a
week for two weeks previous to the
day of said election.
SIXTH. This ordinance shall take
effect when it shall be ratified and
approved by at least three-lfths OF
all the legal votes cast for and
against the same at the election men
toned in the next preceding section.
SEVENTH. That for the purpose
Of holding the election mentioned in
Section Fifth hereof, the Board of
Affairs doth hereby appoint the fol-
lowing Commissioners of Election to
take the poll and ascertain the result
Of such election in such manner as is
prescribed by law, at the several pre-
cincts or voting places in said City,
namely:
First Ward-J. z. Offner, Howard
Adams and Guy Jones.
Second Ward-W. a. LAWYER IT 6