The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1919-05-03
lSCCnrdcr.

Section J. The said commissioners.
before proceeding TO act hereunder.
shall execute 4 joint bond. with surety
To be approved by Council. in IN" penal
~ Of Twenty-six Thousand Dollars
| CSC, 000.0O). conditioned that they vii!
| faithfully perform their duties and nc
count for and pay over rs required by
| this ordinance. all money that may conc
into their hands aus such conn niSsion ?r.
| Said commissioners shall be SuhJ"c. IT,.
| removal BY Council for cause bur not
before notice and an opportunity = DC
heard is given by Council. and an! va
J canty shall be filled by Council, ana In"
rev commissioners. together with tho
others shall enter into Il new bond. rs
! above provided. The said Commission
nrs shall deposit the funds coming into
their hands by virtue hereof in such
/ bank or trust company rs the Council
may. direct. and should any interest be
received by reason Of the deposit the
! same shall be paid by said commission
| ers into the treasury Of thr Town on
order Of Council and shall become part
ON the sinking fund hereinafter mcn-
! toned.
Section ;. The bonds so signed. coun-
! tersigned. sealed and delivered shall b."
sold by the said commissioners at not
| less than their par value and in the
! manner required by law and the issu-
crnrd by all the restrictions and limita-
| tons provided by tho constitution and
! laws OF the State OF West Virginia and
shall be in conformity Herewith. Tho
proceeds arising from the sale Of said
! bonds shall be paid out by tho said
comm sisioners for the purposes herein
! provided. to such persons as tho Council
shall from time to time direct. II by
reason OF the sale OF said bonds at 4
lpremium or for any other reason there
| shall remain a surplus in the hands Of
/ the commissioners after all payments
have been made. such surplus shall he
paid into the treasury Of the Town on
| the order Of Council and shall become II
part Of the sinking fund hereinafter
mentioned.
Secion 4. To provide sinking fund
for the payment Of the annual interest
| and the payment Of the principal Of said
ally levied by the Council of Tho Town
OF Edgwood, at the same time the an
nual levy for other purposes is made.
in each year after said bonds are issued
and until such time as there Is sutfi-
Gent amount OF money in said fund to
pay all of said bonds then outstanding
| and ell Of the interest due and TO be-
! come due thereon, direct tax upon all
real estate and personal property sub
jet to taxation In said Town of Edg-
wood. which direct tax shall be- levied
| as O separate tax in addition to all other
| taxes that may be levied for tho. benefit
Of said Town and shall be sufficient
| to produce in each year q sum OF money
sufficient OF pay the interest for one
year upon all outstanding bonds. and in
addition thereto redeem all of said bonds
! issued hereunder at maturity. The
tares 30 levied shall Be collected in
such manner ms is or that may be here
/ after provided by law for the collection
of other taxes levied by The Town upon
! real and personal property. and said
i funds so collected shall be kept separate
from all other funds belonging to tho
Town
provided for In the next preceding sec
ton, the coupons for interest attached
10 said bonds shall be paid as they be-
come due and all or any part Of the
bonds issued hereunder may, at rho OPP
| ton OF Council upon notice being given
| as hereinafter provided, be redeemed in
ten years from their date. at tn" end Of
any year after their date, Said bonds,
II redeemed. shall be redeemed in the
consecutive order Of thir numbers COM
! mencing with number zone" at rate
not greater than their par value with
! holders Of the bonds to be redeemed MS
aforesaid, given by the Recorder OF tho
| Town, by publication once week for
! two consecutive weeks in some daily
wheeling. Ohio County, West virginia,
and Of general circulation in said Town
Of Edgwood. stating in said notice the
| number Of the bonds or bonds to he
| redeemed ana inc llInc "Ncn In''S Will
be paid, the bonds to be redeemed by tho
terms Of said notice shall Or presented
at the time stated in said 1ntiro NJ tn"
office Of the Wheeling Rank & Trust
Co, IN the City Of Wheeling. West Viz
! Cinia, for payment and after tho dhtc
! fixed in said notice for tho redemption
] OF the bonds therein designated, such
bonds shall cease to bear interest and
no interest will thereafter bc paid
thereon.
Section g. Each coupon and bond
paid or redeemed shall be Immediately
cancelled by the Recorder OF tho Town
ell at ITS first meeting after such pay
! sncnt or redemption. anu thc Recorder
shah preserve tho same in II hook 20 he
provided for that purpose.
Section Z. II shall he ihc duty OF tho
said commissioners to keep II irun ne
count Of all their receipts and dlShursr-
ments and report tho same to Council ut
such times as Council may direct. and
said commissioners shall hr allowed Il
reasonable com pensation for their srr-
fvicca hereunder, but not to cNrr"d ono
half Of ono per cent of tho lIShurS"-
rnents made BY them.
Section 3. Tho word "May"r" and
! Recorder" when used iu this "rdi-
nance SHAH be taken In mean ~" Mayor
and Recorder respectively Of I'll" Town
Of Edgwood nnd tho word .rnwn'' shall
! be taken to mean the Town OF Edgw"od.
Section .. Before making any sal" OF
J tho said bonds tho commissioners shall
! advertise tho same at l"aS. once II w"rli
/ for four consecutive w"Gks before such
/ sale in ore OF the daily newspapers nIh-
! lished IN the City nf Wheeling. and by
! such other Advertisement ~ to such
| such commissioners may seem nuriS-