The Coeur d'Alene press. (Coeur d'Alene, Idaho) 1892-1907, 1895-06-22
Eieotton Notice.

legislature of the state of idaho, az
proved March s, 1898, 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 records and files of the boar,
and the reports of the auditor am
treasurer Of the county, find that exclu
sive Of the bonded Indebtedness of tn,
county, that there is an outstanding in
debtedneSs, as shown by warrant:
issued prior to the second Monday O
January, y. ID. 1895 of Si3, 5Si. "a, upor
which there is accrued interest up I,
the 3rd day of June, A ID. 1895, as neal
As the same can be estimated, amount
ing to S4,OtI.e1, which warrants the
board finds are valid aud legal obliga
tons 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.
lied, at 81. 1921, 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 special tax for the redemption
and payment of said warrants. and it
would seem that in view of the present
depression i'll trade and business that il
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 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
emit Indebtedness to cover the interest
accruing up to the time of the nesotia-
ton and sale of such bonds, " hieh will
amount, as near as can be estimated. to
the sum of 81 ,5253i
And the board being fully advised in
The premises, it is hereby ordered, that |
he board of county commissioners Of /
hootenai county, Idaho, in pursuance |
If the act of the legislative assembly of /
he territory of Idaho, approved Janu-
Try %, 1887, and of the act of the legis-
allure OF the state of Idaho, ammenda.
DRY thereto, approved March 8, 1895.
md OF the provisions of the constitu-
ion OF the state of Idaho, Section Is,
Article 81 will issue and sell negotiable
oupon bonds of the said county of
>ootenai, to the amount of s49IlJ5,
hat being the total amount of the out
landing Indebtedness of the county as
videnced by warrants issued prior to
he second Monday of January, A. ID.
S9o, including interest on said warrants
'hich has accrued and the probable
mount, as near as can be estimated.
nat will accrue before the said bonds
an be disposed of and realized upon, {
here being no money in the treasury s
the county applicable to the payment s
such Indebtedness, or so much of I
nd sum as may be necessary to fund /
ich Indebtedness and redeem said
arrants, and no more of such bonds G
lail be issued and sold than shall be a
eceesary for such purpose, provided, a
lat the issuing of such bonds be first t
lthorlzed By vote Of two thirds of
he qualified electors of the county vot- d
g at an election to be held for that =
lrpose, as hereinafter provided. Said
1nds shall be issued, as near as prac-
cable, in denominations of one thous-
Id dollars, or if necessary in denomin- I
ions Of five hundred and one hundred v
liars, and will bear interest at a rate T
1t to exceed six per cent. per annum,
e interest to be paid on the first day f
January and the first day Of July in n
ch year, at the Office Of the county d
easurer, or at such bank in the city of
ew York as may be designated by the
ard of county commissioners, such y
nds to be redeemed by the county in :
e following manner: ten per cent of
total issued to be paid in ten years
I'm the date Of issue, and ten per cent
ch year thereafter until all of said
nds are paid. ma
Now therefore, Notice is hereby given "a
1t special election by the qualified il.
ctors Of kootenai county, state of Is
aho, will be held in the several pre- co
lcts of said county, on Tuesday the Is
IN day Of August, a. ID. 1885, :. ..... "a
................... precinct, place Of all
l;... o,s..: SUI
uiIiS eiecIioH, ............- ........ lat
.........., which election shall be pr pr
In at eight o'clock in the morning pa