The Coeur d'Alene press. (Coeur d'Alene, Idaho) 1892-1907, 1895-07-06

eiouS Vi tuc CouutS. Inc DOarU 1urthe
finds that there is now in the treasur,
OF the county no money applicable t,
the discharge of such Indebtedness
leaving the outstanding Indebtedness o
the county rs evidenced by such war
rants. including interest us above speci
fled, at S+' ,6292l, and the board furthe
hnds that said warrants are drawing in
terest at the rate Of seven per cent. pc
annum which the board believes coulc
be funded by the issue of bonds bearing
interest not to exceed six per cent. pei
annum, said warrants are not at pal
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 business of the county, and fur.
Their the legislature of the state OF
Idaho at its last session passed Rev
enue Act by the provisions of which, in
case the outstanding indebtedness of
any of the counties of the state is not
funded by the issue of bonds for the
redemption of same, the board of COM
mlSsioners of such counties are required
to levy special tax for the redemption
and payment 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 on the tax payers of the county,
already necessarily heavily taxed. by
the imposition of any additional tax
unless sanctioned by vote of the
county; for these reasons, the interests
of the county require and the board
deem 1t for the public good to issue
bonds of the county to fund the out
standing warrants. The board further
finds, that as such bonds cannot be he
gotiated and sold for some length of
time that it will be necessary to issue
bonds somewhat in excess of the pres.
ent Indebtedness to cover the interest
accruing up to the time of the neyotia-
ton and sale of such bonds, " hich will
amount, as near rs can be estimated, to
the sum of Sl,32534.
And the board being fully advised in
the premises, it is hereby ordered, that
the board of county commissioners of
hootenai county, Idaho in pursuance
Of the act of the legislative assembly of
the territory of Idaho, approved Janu-
AIRY %, 1887, and of the act of the legis-
lature Of the state of Idaho, ammenda.
tory thereto, approved March s, 1895,
ana OF the provisions of the constitu-
ton of the state Of Idaho, Section Is
Article s. will issue and sell negotiable
coupon bonds of the said county of
hootenai, to the amount of S4y,II.55.
that being the total amount of the out
standing Indebtedness OF the county as
evidenced by warrants issued prior to
he second Monday of January. A. ID.
1875, including interest on said warrants
Which has accrued and the probable
amount, as near as can be estimated.
hat will accrue before the said bonds
AN be disposed of and realized upon.
here being no money in the treasury
u the county applicable to the payment
II such Indebtedness, or SO much of
AID sum As may be necessary to fund |
uch indebtedness and redeem said |
warrants, and no more of such bonds |
hall be issued and sold than shall be
et eesary for such purpose. provided,
hat the Issuing of such bonds be first /
authorized by vote of two-thirds of |
he qualified electors of the county yot-
lg at an election to be held for that
urpose, as hereinafter provided. Said
onds shall be issued, as near as prac-
Icable, in denominations of one thous-
nd dollars, or il necessary in denomin-
tons Of five hundred and one hundred
Oiiars, and will bear interest at a rate
OF TO exceed six per cent. per annum,
ne interest to be paid on the first day
( January and the first day of July in
acii year, at the office of the county
reasurer, or at such bank in the city of
lew York as may he designated by the
GARD OF county commissioners. such
onds to be redeemed by the county in
re following manner: ten per cent of
Re total issued to be paid in ten years
ON the date Of issue, and ten per cent
,ch year thereafter until all Of said .
1nds are paid.
Now therefore, Notice is hereby given 4
lat a special election by the qualified
ectors of KoOtenai county, state of ,
iabo, will be held in the several pre- 5
nets of said county, on Tuesday the
tn day of August, A. ID. 1885, :. ..
.................. precinct. place Of c
'iS oice'i"i' .......---........ d
.........., which election shall be (
zen at eight o'clock in the morning, j
I'd continue until four o'clock In the
ening Of the same day, during ?
hich time the ballot boxes shall re- e
ain open, for the purpose of voting !,
'on the question Of issuing the bonds d
rtinbefore provided. at which time u
ch qnes ton will be submitted to a
EN-, and such election shall b. con. g
cted accorcing to the general election o.
vs. OF TINS state so far AS the same =,
~ be applicable, and except as the N
ne are modified by the provisions of ~
, act above mentioned. - -
Dated this 10th day of June, A. ID. "
-. ''' IT.
ROBT. 5. BRAGAw. sr
,rk OF the Board of County Commits
toner's. kooteDai county. Idaho. =,
net5-Auro.