The silver blade. (Rathdrum, Idaho) 1895-1903, 1895-06-15
ELECTION NOTICE.

-
vised Statutes Of Idaho, as amended
at the Third session of the Legisla-
ture Of the State of Idaho. approved
March 8th, 1895, the Board Of County
Commissioners of KOOtenai County,
State of Idaho, made an examination
into the financial condition of the
County aforesaid, and after examin-
ing the records and files of the Board
and the reports of the Auditor and
the Treasurer of the County, find that
exclusive of the bonded Indebtedness
Of the County. that there is an out
standing Indebtedness, as shown by
warrants issued prior to the second
Monday of January, A. d. 1895, of
$43,5Sl.24, upon which there is ac-
crued interest up to the 3rd day of
June, A. d. 1896, as near as can be
estimated, amounting to $4, O47.97,
which warrants the Board finds are
valid and legal obligations of the
County. The board further finds
that there is now in the Treasury Of
the County no money applicable to
the discharge of such Indebtedness,
leaving the outstanding Indebtedness
Of the County, as evidenced by such
warrants, including interest as above
specified, at SAT 1921, and the Board
further finds that said warrants are
drawing interest at the rate of per
cent. per annum which this Board be-
lieves could be funded by the issue Of
bonds bearing interest not to exceed
six per cent. per annum; said war
rants are not at par thus depreciating
the credit of the County and causing
those who furnish materials or per-
form services for the County to charge
above the market rate for such ma
terials and services, thus greatly in
creasng the cost Of carrying on the
business of the County; and further,
the Legislature Of the State Of Idaho
at It's last session passed Revenue
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
redemrtiOn OF the same, the Board Of
Commissioners OF such Counties are
required to levy special tax for the
redemption and payment Of said war
rants, and il would seem that 10 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 necessa-
rily heavily taxed, by the imposition
OF any additional tax unless sanction
ed by vote OF the County. For these
reasons the interests Of the County
require and the Board deem it for the
public good to issue bonds of the
County to fund the outstanding war
rants. The Board further finds, that
as such bonds cannot be negotiated
and sold for some length Of time that
it will be necessary to issue bonds
debtedness to cover the interest &C.
crlling up to the time Of the negOta-
ton and sale Of such bonds. which
will amount, as near as can be esti-
mated, to the sum of ST. 525.34.
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 Idaho, approved jan
uary 25th. 1887, and of the Act of the
Legislature of the State of Idaho,
amendatory thereto, approved March
Sth, 1895, and of the provisions OF the
Constitution of the State of Idaho,
(Section Is. Article 81 will issue and