The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1919-05-17

bonds shall be in the following FORM
or to the same effect.
10. The Town Of Edgwood. in the
County Of Ohio, State Of West Virginia.
will pay to bearer the sum OF thirty
Dollars in lawful money OF the united
Wheeling Bank & Trust Co. in the City
OF Wheeling. in the State Of West Viz
ginia, being one years interest on It's
six per cent ton year Street Improve
nent Bonds. Series &C. No. -
Section :. The said commissioners.
before proceeding TO act hereunder.
shall execute a joint bond. with surety
to be approved by Council. in the penal
~ Of Twenty-sX Thousand Dollars
(S26. 900 OO), conditioned that they viii!
faithfully perform their duties and &C
count for and pay over as required by
this ordinance. all money that may come
into their hands rs such commissioners.
Said commissioners shall be subject To
before notice and an opportunity - be
heard is given by Council. ard any va
cancy shall be filled by Council. and the
new commissioners, together with the
others shall enter into n new bond. Us
above provided. The said Commission
crs shall deposit the funds coming into
their hands by virtue hereof in such
bank or trust company as the Council
may direct. and should any interest be
received by reason of tho deposit the
! same shall be paid by said commission
crs into the treasury Of tn" Town on
order of Council and shall become part
Of the sinking fund hereinafter men
toned.
Section J. The bonds so signed coun-
terSigncd, scaled and delivered shall be
sold by The said commissioners n not
less than their par value and in the
manner required by law and tho iSsu-
] Ill.,,
erned by all the restrictions and limila-
tons provided by III" constitution and
laws OF the State OF West Virginia and
shall be in conformity herewith. The
bonds shall be paid out by the said
comm sisioners for The purposes herein
provided. to such persons as The Council
shall from time to time direct. II hT
reason of the sale Of said bonds At n
premium or for any other reason there
shall remain = surplus in the hards Of
! the commissioners after all payments
have been made. such surplus shall Ia"
| paid into III" treasury of IN" Town. on
! the order of Council AMI shall become Il
| part of the sinking fund hereinafter
mentioned.
Seciou 4. To provide n sinking fund
for the payIT":Ii of the annual interest
! and the payment Of the principal of said
bonds al maturity. th"r" &h4!! be annu-
! ally levied by lnc Council "C Tho Town
Of Edgwoud. ~ the Same time tho an
! nual levy for other purposes is made.
in each year after said bonds are issued
and until such Iine as there is IL $uff:-
Gent amount of money in said fund to
pay all Of said bonds then oUtst and ing
and all of tho interest ,iuC and 10 be-
come due thereon. a direct tax ui0n Al
real estate and personal property sub
! jcct to TAXATION in said Town az EdS-
| wood. which direct lax shall b" levied
as a separate lax in addition I" all other
| taxes that may he levied Cor the benefit
! Of said Town and shall b" sufficient
To produce in each year sum Of money
sufficient OF pay lhc interest for one
| year upon all outstanding bonds. and in
addition thereto redeem all of said bonds
ISSUED hereunder at maturity. The
| taxes 80 levied shall /" collected in
! such manner Ms is or th"l &ay b" here
| after provided by law for The collection
of other taxes levied by Tn" Town upon
! real and personal property. AMI said
! funds so collected shall be kept separate
! from all other funds belonging To the
! Town.
| Section ! Out Of the sinking fund
! provided for in tho next preceding sex
! ton. the coupons for int"rcS, attached
| To said bond. shah hc paid ~ they be-
! como due and all or any part Of the
bonds issued hereunder may, at fhr OPP
/ ton OF Council. upon notice being given
as hereinafter provided hc Redeemed in
| not less than one year nor in NOR" han
! ton years from their date. I'll the end Of
any year after their date. Said bonds.
| If redeemed, shall he redeemed In the
rncnciug with number "Onr" nj rate
! not greater than their par value. with
| accrued interest. Upon notice 10 tho
| holders Of IN" bonds 10 be redeemed as
! aforesaid. given by ihr Recorder Of nc
! Town ny publication once week for
! two rnnsccuIiva weeks in Srmr daily
! newspaper published In IN" CITY. Of
! Wheeling. Ohio County, West Virginia.
and of general circulation in said Town
Of Edgwuod. stating in said notice the
number Of The bonds or bonds 10 he
redeemed and tho time when they Will
| he paid, tho bonds to hr redeemed by tn"
! terms Of said notice shall BE- presented
/ al tho time stated in said notice nj tn"
! officc of tho Wheeling Bank x Trust
! Co in tho City Of Wheeling. West Fir-
! ginia. for payment and after the date
! fixrJ in said notice for the redemption
| Of the bonds therein designated. such
bonds shall cease In bear interest and
no interest will thereafter be paid
Section C. Each coupon and bond
m id Or redeemed shall be Immediately
! ca ncrllcd by the Recorder Of the Town
and shall hr exhibited by him 10 Coun-
| Gil at It's first meeting sitcr sqcn pay
Incnt or redemption. and the Pccord"r
| shall preserve the Same in book 70 he
provided for that purpose;
! Section :. 1t shall be tho duty Of tho
said commit SSiuncrS to Keep 1Tn" &C
| count of all rltcir receipts and disoursc-
mrnts and report the same 10 Council AT
| slIrh times ~ Council may direct. and
| snid commissioners shall he allowed a
| reasonable compensation for their ser
vices hereunder. but not Ia exceed one
! half Of one per cent of the disbrTsc-
mcnts made by them.
Section s. Tho word "Mayor' and
! "Rcrorlcr." when used In this ordi-
! nance, shall he taken 10 mean tho Mayor
and Recorder respectively Of Tn" Town
of Edswood and the word Town shall
! be- taken Ia moan the Town OF EdEwnod;
| Section .. Before making any sale Of
the said bonds the commissioners shait
! advertise tho same nL least once week
! for four consecutive weeks before such
/ sale in one of tho daily newspapers pup-
| Iished in the City Of Wheeling. ana by
such other advertisement rs TO Such
such commissioners may seem hdNis-
/ able. stating tho timt and place IN The
! Town of EdSwo"d whS-2 they VIII re-
ccivc bids In writing ~ said bonus.
And such bids shall hN seemed ny: lhe
! commissioners. in tho presence Of Coun-
| ell. and should the highest bids exceed
! the amount Of III" bonds La be solo men
! tho said bonds shall De apportionrd by
! tho commissioners among those DiddinR
the highest price and the said commits
| SioncrS may require such guaranty from
bidders us they may dcTn proper.
| Section 10. The general nature OF Inc
| public improvement hereby authorizcd'
and which Council hereby determines
that IL will proceed with. in accordance
with the resolution adopted by Council
o1 tba 3fth. xlav of April. 1919, ana, in