Wood River times. [volume] (Hailey, Idaho) 1882-1915, 1886-12-31
COUNTY ISDEBrEsSESs.
Ao Act TO Provide Ways for Funding
and RefaadinR II.

-
An Act to Provide Ways for Fuuain,
ana RefaadiRg II.
Following is copy OF the bill in.
troduced in the Council BY JUDGE
Beatty, of Alturas:
SECTION l. The Board of County
Commissioners of any county, having
any outstanding Indebtedness which
mas been duly allowed and ordered
PAID and evid. need by bonds, war.
rants or other legal obligations of the
county, is authorized to fund and re.
fund any such Indebtedness, and issue
negotiable bonds of the county for
such part or all of such Indebtedness
as the Board may deem for the inter.
est OF such county; but any bonds
issued IN excess of such Indebtedness
are void. Prior to making any con-
tracts relative to such issue of bonds,
the board must 10y publication in
some newspaper, published in the
county, or if there be none, then by
notices posted in at least three public
places in the county, one being at the
courthouse door,, give at least two
weeks notice of intention to make
such issue Of bonds, and if within four
weeks after the first publication or
posting Of said notices, a remon-
STRANGE against such issue, signed by
at least one-tenth of the electors Of
the county, who voted at the last pre-.
cedlng general election, be filed with
said Board or its clerk, the Board
must not proceed further to issue such
bonds until petition, signed by a
majority OF said electors, who voted
at such election, is filed as aforesaid.
1t, in any county, the said Board re-
fuses or neglects to issue such bonds,
aud majority of said electors petition
said Board for such issue of bonds and
funding of the county Indebtedness,
the Board must proceed with all rea-
sonable dispatch to issue and negoti-
ate such bonds, and any such: petition
may specify whether it is all, or if a
part, what part, of the county indebt-
edness the petitioners wish refunded.
Sec. 2. Such bonds must be issued
in denominations of not less than five
hundred dollars, and VIXEN issued in a
greater amount, must be in some mul-
tlple Of that sum, and must be signed
by the chairman aud attested bv the
clerk of said Board, and have at
tached to each the seal of the county
They must be made payable at such
time as said Board may order, but
not in less than FIVE nor more thar
twenty years, and bear interest at no,
to exceed eight per cent. per annum
from the date of their execution and
issue by said Board, the interest paya
BILE semi-annually on the first day Of
each January and July of each year
and both principal and interest paya
BILE at the Office of the County Treas
urer, or, at the option of the pur.
chaser, at such bank in the city OF
New York as said Board selects, anG
to each bond must be attached inter
est coupons to be signed by the
County Treasurer and numbered a.
the bond.
SEC. 3. Said bonds may be sub.
stantially in the following form, to-
wit:
S-...-..........- No. -....-...--
The county of .......... IN the Ter
ritory of Idaho, for value received
promise to pay to .............. OF
order, on the 80. day of .....,.....
:. hundred and 80. at the there e
insert the Office of County Treasurer
or the bank in New York the sum Of
............. dollars, lawful money
of the United States, with interes1
thereon at the rate of -. per cent
per annum from date, payable semi
annually on the first day of January
and the first day of July of each yea,
at the there insert place of payment
on presentation and surrender of the
interest coupons heretofore attached
as or after they become payable. Thi,
bond is issued by said county Of -.
........ under the authority granted
by an act OF the Legislative Assembly
of Idaho Territory, entitled San Acl
to provide for the funding of county
Indebtedness" approved .........,
80. 1887. In testimony whereof
the said county, by its Board o
County Commissioners, has caused
this bond to be signed by the chair
man and attested by the clerk of sale
Board, with the county seal attached
this ...... day of ........ eighteen
hundred and ........
|
Chairman of the Board Of Count,
Commissioners.
| ATTEST.
(sEAL. Clerk.
The interest coupons may be sub
stantially in the following form, to
wit:
3 No. ...........
The Treasurer of the county of ....