Pioneer press. [volume] (Martinsburg, W. Va.) 1882-19??, 1917-04-07
which they are issued at the office
aforesaid, according to the tenor and
effect OF interest Commons Ia ho 81

oAofSSdiu, aCCOTQluS 10 tue tenor and
effect OF interest coupons to be at
tached TO each bond respectively:
anl said bonds shall be 4 tGl ia
LIST day OF January. 1917. ana sha.l
be sisnel in the corporate .,1me Of
the City by its Mayor. coU2to:s'gnei
by the Auditor ana seale,s w.tn the
Corporate seal Of the said City. The
name of the Treasurer OF sa.i City
in office when said bonds are ISSUED
shall be signed to each coupon, hui
said name may be either pr;nlel or
engraved thereon.
Sec. IL. That H. II. Emmert. c. A.
Miller and John 7. Nadenbousch.
who are hereby appointed Commits
sioners Of the City Of Martinsburs
for the purpose-be, and they ar>
hereby authorized and empowered to
sell publicly said GENERAL M
PROVEMENT AND PAVING:
PONDS" for cash. at not less than
their par value. to the highest bio.
er in writing, to be approved by
aid Commissioners; but before ary
such sale shall be made the same
shall be advertised in some conven.
'ent newspaper or newspapers, rs
he said Commissioners may e!Cct, al
least four weeks previous to such
ale. The proceeds derived from the
sale of said bonds. as fast as rsaliz
ed. shall be payable to the Treasurer
Of the City Of Martinsburg and de.
posted by him in the Treasury OF
said City to the credit thereof in =
separate and distinct account, known
S Genera! Improvement and PAY.
ing Bond Account and said account
shall be kept separate and distinc,
from other accounts Of said City and
the funds in said account shall not
be appropriated or expended for any
purpose than that hereinabove spoc-
flied.
Sec Ill. That the amount collect
ed from the direct annual tax here
lnafter provided for, remaining over
and above the amount necessary to
pay the interest due upon said bonds
each year-which said amount shall
be ordered by the council paid to the
Treasurer to be held in special
fund by him for that purpose-shall
be payable to the Commissioners
named in Sec. II. hereof The Com
missioners shall invest said fund
known at the SINKING FUND-in
united States bonds or the bends
OF the City Of Martinsburg az the
council OF said City may direct. A
record shall be kept by the Commits
SlonorS of all investments Of said
sinking fund made by them. Said
commissioners shall each furnish a
lav7b!e to the City Of Martins
burg. with some good surety com
pany as surety, and conditioned that
they will faithfully discharge their
duties under this ordinance and ac-
count for and pay over tc the City
or Martlnsburg when demanded, all
funds, securities and moneys coming
INTO their hands by reason Of their
appointment. Whenever the ,ffice Of
any Of said Commissioners shall be-
come vacant by reason Of death.
resignation, removal from the CITY.
or any other cause. the Mayor shall
Immediately nominate his successor
or successors to the Ouucil. which
nominations shall be made and con.
nlmed rs other officers of the City
or Martlnsburg are nominated and
confirmed. The bonds provided for
by this Section shall be approved by
the council. The amount Of such
bonds shall be fixed by the council
from time to time. The premium on
the bonds shall be paid by the City
Of Martinsburg
Sec. ~. The sinking fund herein
provided for shall be kept bv the
commissioners hereinabove appoint
Ell for the purpose Of paying the
principal Of said bonds, and I'll in
Vestmerts Of said sinking fund shall
be Tor the purpose Of redeamina said
bonds. ard no part Of said fund or
TIC investment thereof shall DO paid
by said Commissioners except upon
the special warrant Of the council di-
rected to them and specifying that
the amount Of the warrant i. for the
purpose Of discharging 80 rluch Of
the principal CT said bonds.
The Commissioners shall make q
report in writing to tie MAYOR Of the
CITY % NartinsbuTg or the 1st day
Of July, 1917, and on the 1st day o.
July i'll each succeeding year until
the maturity or refundiDg OF the
bonds herein authorized; said re-
port shall embody all things done by
said Commissioners up until the date
OF said report. The report shall be
transmitted by the MAYOR to the