The Coeur d'Alene press. (Coeur d'Alene, Idaho) 1892-1907, 1895-06-29
Election Notice.

legislature Of the state of Idaho, APP
proved March 8, 1895, the board of
county commissioners of kootenai
county, state of Idaho, made an exam
ination 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
treasurer Of the county, lind that exclu-
sive of the bonded Indebtedness of the
county, that there is an outstanding ill.,
debtedness. as shown by warrants
issued prior to the second Monday of
January, A. d. 1895 of Si3, 5Sls4, upon
which there is accrued interest up to
the 3rd day of June, A. d. 1895, as near
rs the same can be estimated, amount
ing to S4,0i7,97, which warrants the
board finds are valid and legal obliga-
tions 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 war
rants, including interest as above speci-
fed, at SAT ,6s92l, and the board further
finds that said warrants are drawing in
terest at the rate of seven per cent. per
annum which the board believes could
be funded by the issue of bonds bearing
interest not to exceed six 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 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
missioners Of such counties are required
to levy u 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
upleSs capctinpo1 hv n ya%o - 49,
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 out
standing warrants. The board further
finds, that as such bonds cannot be ne
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
accruiEg up to the time of the negotia-
ton and sale of such bonds, which will
amount, as near rs can be estimated, to
the sum of 81 1884.
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 %, 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-
ton of the state of Idaho, Section Is,
Article 81 will issue and sell negotiable
coupon bonds of the said county of
kootenai, to the amount of $40, l5t55,
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, A. d.
1895, including interest on said warrants
which has accrued and the probable
as near as can be estimated
that will accrue before the said bonds
can be disposed Of and realized upon,
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
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 vote of two-thirds Of
The qualified electors of the county vot-
ng at an election to be held for that
purpose, as hereinafter provided. Said
bonds shall be issued, as near as prac-
.icable, in denominations Of one thous-
md dollars, or if necessary in denomin-
atoms Of five hundred and one hundred
dollars, and will bear interest at rate
not to exceed six per cent. per annum,
he interest to be paid on the first day
If January and the first day Of July in
Zach year, at the Office of the county
treasurer, or at such bank in the city of
New York as may be designated by the
BOARD Of county commissioners, such !
ponds to be redeemed by the county in |
he following manner: ten per cent of
he total issued to be paid in ten years |
rom the date Of issue, and ten per cent |
Zach year thereafter until all Of said |
ponds are paid.
Now therefore, Notice is hereby given
hat special election by the qualified |
electors Of KoOtenai county, state Of
IDAHO, will be held in the several pre-
;incts of said county, on Tuesday the
18th day Of August, A. d. 1895, :. .....
..................... precinct, place OF
folding election, NEUTRALITY-SUSPICIOUS..