The Coeur d'Alene press. (Coeur d'Alene, Idaho) 1892-1907, 1895-06-15
Election Notice.

Legislature Of the state of Idaho, al
proved March s, 1896, the board o
county commissioners of Kootena
county, state of Idaho, made an exam
ination into the financial condition o
the county aforesaid, and after examin
ing the recoris and files Of the boar,
and the reports Of the auditor an,
treasurer OF the county, find that exclu
sire OF the bonded indebtedness of tn,
county, that there is an outstanding in
debtedneSs, rs shown by warrant.
issued prior to the second Mo.a.y o
January, \. u. 1856 of i3,5Sl.st, upoI
which there is accrued interest UP I,
the srd day Of June. y. u. 1885, as heal
as the same can be estimated, amount
ing TO Si,019., which warrants tn,
board finds are valid and legal obliga
tions of the county. The board further
nnds that there is now in the ,reasur,
OF the county no money applicable Il
the discharge of snch Indebtedness.
leaving the outstanding Indebtedness oi
tie county Us evidenced by such war
rants, including interest rs above sreci.
fled, az 81. ,6s92l, and the board further
binds that said warrants are drawing in
teress at the rate of seven per cent. per
annum which the board believes could
BE- funded by the issue of bonds bearing
interes; not 20 exceed six per cent. psr
annun, 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
fJr such materials and services, thus
greatly increasing the cost OF carrying
OF the business OF the county, and fur
Their the legislature of the state OF
Idaho at its last session passed Rev
enGe 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
missioners OF such counties are required
to levy a special tax for the redemption
and payment of said warrants, and it
would seem that in view of the present
depression III trade and business that i,
would be unwise 10 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 AMI the board
deem 1t for the public good to issue
bonds OF the county to fund the out
standing warrants. The board further
iindS, that as Such.bonds cannot be ne
gotiated and sold for some length of
time that it will be necessary t. issue
bonds somewhat III excess of the pres.
ent Indebtedness to cover the interest
accruing up to the time Of the negotia-
ton and sale of such bonds. which Will
amount, as near as can be estimated. to
the sum of Sl,o25.3i.
Aud 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 p, 1857, and of the act of the legis-
lature of the state OF Idaho, ammendA-
tory thereto, approved March S, 1895,
and Of the provisions of the cOnstitu,
tion OF the state OF Idaho, (Sec:ion l.,
Article S. will issue and sell negotiable
coupon bonds of the said county of
hootenai, to the amount of SigIJt.55.
that being the total amount of the out
standing Indebtedness Of the county as
evidenced by warrants issued prior to
the second Monday of January. \. d.
1850, including interest on said warrants
which has accrued and the probable
amount, Is near as can be estimated,
Hat viii accrue before the said bonds
an te disposed of and realized upon.
here being no money i'll the treasury
If the county applicable to the payment
IF such Indebtedness, or SO much Of
aid sum as may be necessary TO fund
iuch Indebtedness and redeem said
warrants, and no more Of such bonds
hall be issued and sold than shall be
necessary for such purpose, provided, !
hat the Issuing of such bonds be first
authorized by vote of two-thlrt!s of
he qualified electors of the county yot-
n5 at an election to be held for that
purpose, as hereinafter provided. Said
onds shall be issued, as near as p-ac-
lcable, III denominations Of one thous-
nd dollars, or if necessary in denomin-
tons OF five hundred and one hundred
O.lars, and Will bear interest at 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
ach year, at the Office Of the county
or at such bank in the city of
e" York as may be designated by the
1ard OF county commissioners, such
onds to be redeemed by the county in .
re following manner: ten per cent Of
.e total issued to be paid in ten years
ON the date Of issue, and ten per cent
sch year thereafter until al, OF said
,nds are paid. :
Now therefore, Notice is hereby given
at special election by the qualified j
ectors Of Kootenai county, state of
.aho, will be held in the several pre- {
nets Of said county, on Tuesday the !
In day Of August, y. ID. 1885, ....
..............-....r precinct, place OF a
,lding election, l.
..........-, which election shall be y
,eD ~ lis,'tt r'1I,.Iy -, tba ,,,x.;..s. 70