The silver blade. (Rathdrum, Idaho) 1895-1903, 1895-06-08
COMMISSIONER PROCEEDINGS
Transactions Of the County Board
at Their Adjourned Meeting.

journment on Monday, June 3, 1895, at ten
o'clock A. M. Present, o. F. Warren, chair
man. N: Palmeter, j. A. Ball and r. S. Bra
gaw. clerk, by John w. Peters, deputy.
On motion the following bills were allowed
and the auditor is hereby authorized to draw
warrants in payment of the same. to the par
ties and in the amounts below named, to-wit:
Occur d'Alene Mill Company building
addition to to the court house as per
contract on fle.. ACKNOWLEDGEMENTS. S64O 90
s. Beck. furnishing bath tub and plac-
ing same IN JAIL IL 10
On motion board adjourned until tomorrow
Tuesday, June A. 1885, at 10 o'clock A. M.
TUESDAY. JUNE 4, 1895.
The board having made an examination in
to the financial condition of the county, and
after examining the records and files of this
board and the reports of the auditor and
treasurer of the county find that exclusive
of the bonded indebtedness Of the county,
+ that there is an outstanding indebtedness, as
shown by warrants issued prior to the second
Monday of January, 1885, of s435s1.A, upon
which there is accrued interest, calculated
up to the 3rd day Of June, 1895, amounting to
$4,04797, as near as the same can be estimat-
ed. which warrants this board finds are valid
and legal obligations of the county,, This
board finds further that there is now in the
treasury Of the county no money applicable
to the discharge of such Indebtedness, being
the outstanding in 5ebtedness of the county
lis evidenced by such warrants. including in
terest as above specified at S47,629.21. And
this board further finds that said warrants
are drawing interest at the rate of per cent.
per annum, which this board believes can be
funded by the issue of bonds bearing interest
not to exceed per cent. per annum; said
warrants are not at par, thus depreciating
the credit of the county. and causing those
who furnish materials or perform services for
the county to charge above the market rate
for such materials and services. thus greatly
increasing the cost Of carrying on the bust
ness Of the county; and further the legisla
ture of the state of Idaho at its last session
passed a revenue act by the provision of
which, in case the outstanding warrant in
debtedness of any of the counties of the state
is not funded by the issue of bonds for the re-
demptiOn of the same. the board of commits
sioners Of such counties are required to levy
a special tax for the redemption and pay
ment of said warrants; and it would seem
that in view of the present depression in
trade and business, that it would be unwise
to place any heavier burdens upon the prop
erty Of the county already unnecessarily
heavily taxed, by the imposition of any adj
ditional tax. unless sanctioned by vote of
the electors of the county. For those reasons
the interests of the county require and this
board deems it for the public good to issue
bones of the county for the said outstanding
warrants.
The board further finds that us such bonds
cannot be negotiated and sold for some
length of time. that it will be necessary to is
sue bonds somewhat in excess of the present
indebtedness, to cover the interest accruing
up to the time of the negotiation and sale of
such bonds, which excess will amount, as
near as can be estimated. to the sum of 3D.
52534.
And the board being fully advised in the
premises: 1t is hereby ordered, that the
board of county commissioners of Kootenai
county. Idaho. in pursuance OF the act of the
legislative assembly of the Territory of Ida
he. approved January 18th, 1887. and of the
act Of the legislature of the State of Idaho,
amendatory thereto. approved March sth,
1885, and OF the provisions OF the constitution
of the state of Idaho (Sec. Is. Art. s. will issue
and sell negotiable coupon bonds of the said
154.55, that being the total amount of the out
standing indebtedness of the county as evil
denceed by warrants, issued prior to the sec
Ond Monday of January, 1898, including in
terest on such warrants which has accrued
and the probable amount as near as can be
estimated that will accrue before the said
bonds can be disposed of and realized upon,
and there being no money in the treasury Of
the county applicable to the payment Of such
Indebtedness. or so much OF said sum as may
be necessary to fund such Indebtedness and
redeem said warrants and no more Of such
bonds shall be issued and sold than shall be
necessary for such purpose.
Provided. that the issuing of such bonds be
first authorized by a vote of o-thirds of
the qualified electors OF the county voting at
an election to be held for that purpose, as
Said bonds shall be isssed as near as practi-