The Coeur d'Alene press. (Coeur d'Alene, Idaho) 1892-1907, 1895-06-15
BOARD OF COMMISSIONERS.
oaa:l Proceedings Of tie June Meet
Ing.
MONDAY, JUNE S, 1895

ins.
MONDAY, JUNE 5, 1895.
Board OF county commissioners O
kootenai Co, met pursuant to adjourn
ment at 10 O'clock q. III. Present, 0. f
Warren, n. X. Pslmeter and ]. A. hall
Clerk, X. s. Bsasaw by John W. Peters
deputy.
On motion the following bills were
allowed: CGur d. Alene Mill Co. building
addition to coart house 500 s. Beck
furnishing bath tub and placing i, in
Jail SIS.
Hoar1 adjourned until June 4.
Tuesday, JUNE /. 1895.
Board met q, 10 O'Clock. Presen,
came as before. Record OF yesterday S
meeting was read and approved.
In the matter OF bonding Kco,ensi
Co. Idaho.
The board having made an exsnir,
ton Into the financial condition of the
County and after examining the records
and tles of this loSri and the reports
OF the auditor and treasurer ind that
exclusive OF the bonded Indebtedness of
the county, that there is an out.,anC.
Ing Indebtedness as shown BY warrants
Issued prior to the 2nd Monday OF Jan.
1855, OF si3,5Si.ei upon hich there is
accrued interest Up to the srd day of
June, 1915, as near as the same can be
estimated, amounting 10 s4,047 81 which
warrants this board finds are valid and
legal obligations of the county. This
board further finds ,ha, there is in the
treasury of the county no money apn,i-
cable to the discharge of such indebted
ness, leaving the outstanding indebted
ness OF the county Is evidenced by such
warrants including interes. as above
specified at 81 ,629 p. And this board
further finds that said warrants are
drawing interest at the rate OF per
cent. per annum, which this board be-
Eeyes could be funded by the issue Of
bonds bearing interest no, to exceed S
per cent. per annum. Said warrants
are not st par, thus depre eating the
credit OF the county and causing those
who furnish materials or perform ser.
vices for the county to charge above the
market rate for such materials and ser.
vices. thus greatly increasing the cost
OF carrying on the business OF the county.
And further, the legislature OF the state
OF Idaho at its last session passed a
revenue act by the provisions of which
IN case the outstanding Indebtedness OF
any county Of the state is not funded
by the Issue OF bonds for the redemption
OF same, the board OF commi ssioners OF
such county are required to levy a spec
ial tax for the redemption and payment
OF said warrants and it would seem that
IN view of present depression in trade
and business that it would be unwise to
place any heavier burden on the tax.
payers OF the county, already necessarily
heavily taxed, by the imposition OF any
additional tax unless sanctioned BY
vote oil the county. For these reasons
the interests OF the county require and
this board deem it for the public good
to issue bonds OF the county to fund out
standing warrants.
The board further finds that as such
bonds can not be negotiated and sold
Tor some length of time that it will be
necessary to issue bonds some what in
excess OF the present Indebtedness to
cover the interest accruins up to the
time CT negotiation and sale Of such
bonds which will amount az near as can
be estimated to sl525.34.
And the board being fully advised in
the premises, it is hereby ordered that
the board OF county commissioners OF
kootenai Co., Idaho, in pursuance OF .
the act Of the legislative assembly Of the
territory Of Idaho approved Jan. Is, 1857
and OF the act Of the legislature OF the
state Of Idaho amendatory thereto, ap-
proved March 8, 1895, and OF the pro
visions OF the constitution Of the state Of
Idaho Sec. 10, Art. s. will issue and sell
negotiable coupon bounds OF the said Co.
II hoo.enai TO the amount OF s49,I54.55
hat being the total amount OF the out
'tanding Indebtedness of the county as I
evidenced by warrants issued prior 10 I
he second Monday OF Jan. 1895, includ t
ng interest which has accrued and
hat will accrue before said bonds can
'e sold. There being no money in the
reasury OF the county applicable to the I
payment OF such Indebtedness or 60 t
much OF said sum a, may he necessary I
o fund such Indebtedness and redeem c
aid warrants and no more OF such bonds
hall tie issued and sold than shall be
Necessary for such purpose. t
Provided, that the issuing OF such c
,onds be first authorized by a two-third, i
tote OF the qualified electors Of the c
oun.y voting at an election to be held :
or that purpose as hereinafter provided. =.
such bonds shall be issued a. near as J.
in denominations Of one
thousand dollars or if necessary in de- Q
Of five hundred and one a
hundred dollars and will bear interest
It rate not to exceed per ct. per an. y
luin, the interest to be paid on the first /,
lay Of Jan. and the first day Of July in Ia
ach year, at the Office Of the county >
reasurer or at suck bank in New York q
8 the county commissioners may desig- l.
ate. Such bonds to he redeemed by the II
ounty in the following manner: 5;
Ten per cent. Of the total amount il. II
ued to he in ten years from the date Of Is
sue and 10 uer cent each yeor ,L.