The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1919-05-24
RncOrdnr.



Recorder.
Section ;. The said commissioners.
before proceeding 10 act hereunder,
shall execute joint bond. with surety
To be approved by Council, in the penal
ts26.000.0o). conditioned that They vii!
faithfully perform their duties and aC-
count for and pay over as required by
this ordinance. all money that may ctrsn&
into their hands as such cou.n!S!'ion NJ.
Said commissioners shall b" SuhJcc- ~
removal by Council Tor cause bur not
before notice and an opportunity - la"
beard is given by Council. and ans VA
cancy shall be :illcd by Couacil. AMI the
rev commissioners. together with the
above provided TIL" said Comm ssinn-
crs shall deposit the funds coming into
their hands by virtue hereof III such
bank or trust company Is The Council
may direct. and should any interest b"
received by reason OF the deposit III"
same shall be paid by said commission
ers into the treasury Of tho Town on
order of Council and shall become part
Of TN" sinking fund hereinafter men
toned.
Section J. The bonds so signed. coun-
tersigncd. sealed and delivered shall b.
sold"by the said commissioners AT not
loss than their par value and in III"
manner required by law ana the iSSu
ancc and Sa H of said bonds shall he gov
crned by all the restrictions and liInita-
tiorES provided by the constitution and
laws OF thu State OF West Virginia and
SHAH BE- in conformity herewith. The
proceeds arising from the sale of said
bonds shall be paid out by tho said
commissioners FOR the purposes herein
provided. to such persons Us the Council
shall from time TO time direct. II by
reason Of the sale Of said bonds a, Z
premium or for any other reason there
shall remain c surplus in the hands Of
the commissioners after all payments
have been made, such surplus shall be
paid into the treasury Of the Town. on
the order Of Council and shall become n
psrt Of the sinking fund hereinafter
mentioned.
Secion 1. To provide a sinking fund
for tho payment Of the annual interest
bonds at maturity. there shall be annu-
alb levied by the Council of The Town
Of EdSwood, at the Same time the an
nt1al levy for other purposes is made.
in each year sitter said bonds arc isSuc.i
aud until such time as there is n suffi-
cicnt amount OF money in said fund To
pay all Of said bonds then outStanc in E
and all or the interest due and to be-
come due thereon direct tax upon all
read estate and personal property sub
jest to taxation fnA said Town OF Edg-
wood, which direct tax shall be levied
as a separate tax in addition to oil other
taxes that may be levied for tho benefit
Of said Town and shall be sufficient
to produce in each year sum of money
sufficient OF pay the interest for one
year upon all outstanding DDS. and in
addition thereto redeem all OF said bonds
iSsued hereunder at ma thrifty. The
ta1cs 80 levied shall bo collected in
such manner as is or that may be hero
after provided by law for tho collection
Of other taxes levied by The Town upon
real and personal property. and said
funds so collected shall be kept scparal G
fnoru all other funds belonging 10 the
Tpwn.
Section s. Out Of the sinking fund
provided for IN the next preceding sec
thon, the coupons for interest attached
TO said bonds shah be paid as they be-
como due and MI or any part Of the
bonds issued hereunder may. n, the OPP
as hereirrafter provided. he Redeemed in
not less than one year nor in more than
ten years from their date, at the end Of
any year after their date. Said bonds.
II redeemed, shall be redeemed In the
consecutive order OF thlr numbers. COM
rncnc1ng with number One at rate
not greater than their par value. With
accrued interest. Upon notice TO the
'l,o6ers Of the bonds 10 be redeemed IA
ioforcsatd. given by the Recorder Of the
Town. by publication once a week for
two consecutive weeks in Some daily
rewspaper published In tho City OF
Wheeling. Ohio County, West Virginia,
and Of general circulation in said Town
Fof Edgwood, stating in said notice the
number Of the bonds or bonds 10 b.
redeemed and the time when they will
be paid. tho bonds to DC redeemed by the
terms Of said notice shall be present cd
at the time stat ed In said notice al the
office Of The Wheeling Bunk e Trust
Co. tn the city Of Wheeling. West Vir-
Efuta, for payment and after ia" date
fixed In said notice for The rcdcmptio ion
Of the bonds therein designated. such
bonds shall cease 10 bear interest and
mo interest will thereafter be paid
thereon.
Section 8. Each coupon and bond
cancelled by tho Recorder Of tho Town
and shall DO exhibited by him To roun-
ell at It's first meeting after such pay
tncnt or redemption. and tho Ry"erd"r
shall preserve the same in book 10 he
provided for that purpose.
Section 7. II shall be the duty OF the
said commissioners To keep Il true nc
count of all their receipts and dishurS"-
mcnts and report the sam" 10 Council Al
such times as Council may direct. and
said commissioners shall b" allowed u
reasonable compensation for their Scr-
vices hereunder. but not n exceed one
half Of one per. cent Of the disbursc-
nents made by them.
Section 3. The word Mayor und
"Recordcr" when used in this nrl!-
nance shall be- taken 10 mean The Mayor
and Recorder respectively Of TIL" Town
Of Edgw"od and tn" word Town shall
b. taken to mean the Town Of F.dgwurd.
Section 9. Before making auT sal" nf
thu said bonds the commissioners: shall
advrriis,., the sam" al lr'ESl unrr Il week
for four CONSECUTIVE" weeks before such
sale in one Of the daily newspapers pub
tiShrd In tn" tIiy al Wnr, iuG. and 10y
such other advertisement as 10 such
such commissioners may seem advs-
able, stain" IA" time aud rlac" in The
Town Of EdgwuHd where they VIII re-
rrivc bids In writing; for said bonds.
And SUCH bids shall b" opened BY the
commissioners. In IN" presence OF Coun-
Gill; and should the highest bids exceed
the amount OF the bonds TO be sold then
the said bonds shnll hc nnnnr1 inncd by