Idaho County free press. [volume] (Grangeville, Idaho Territory) 1886-current, 1895-08-09
Notice of Bond Election.

In pursuance OF the provisions Of
Chapter vi, Title XIII of the Re-
vised States of Idaho, as amended
at the Third session of the Legis-
lature of the State of Idaho, APP
proved March 8, 1895, the board
of county commissioners of Idaho
county, state of Idaho, made AN
examination into the financial con-
dition of the county aforesaid, and
after examining the records and
files of the board and the reports
of the auditor and treasurer of the
county, heretofore filed, find that
there is an outstanding indebted
ness as shown by warrants issued
prior to the second Monday of
April, A. D. 1895, including inter-
est to October l, A. d. 1895, and
after deducting therefrom money
in the treasury applicable to the
payment of such Indebtedness, of
$74, 10000, as near as can be esti-
mated, which warrants the board
finds are valid and legal obliga-
tons of the county aforesaid; the
above named amount being the to-
tai Indebtedness of said county.
The board further finds that said
warrants are drawing interest at
the rate of seven CD per cent. per
annum, which the board believes
could be funded by the issue of
bonds bearing interest not to ex-
coed six CO. per cent. per annum.
They also find that said war;
rants are not at par, thus depreci.
ating the credit of the county, and
causing those who furnish mater
ials or perform services for the
county to charge therefor so as to
allow for the discount on said war;
rants, thus greatly increasing the
expenses of the county; and fur
Their that the Legislature of the
state of Idaho, at the third session
thereof, passed Il revenue act, by
the provisions of which whenever
any county shall have warrants
outstanding unpaid, for the pay
ment of which there are no funds
in the county treasury, the board
of county commissioners of such
county, is required to levy spe-
cial tax for the redemption and
payment of said warrants. In view
of the present financial depression
the board deems it unwise to place
any heavier burdens on the tax
payers of the county, and therefore
in their opinion the best interests
of the county require that bonds
be issued to fund the outstanding
warrant Indebtedness, and the
board being fully advised in the
premises:
1t is hereby ordered that a spe-
cial election be held for the purpose
of submitting to the voters of the
county the question of bonding the
said county for the purpose afore-
said, said bonds to the amount of
$74 10000 to be issued as near as
practicable in denominations OF
one thousand dollars each or il
necessary in denominations of five
hundred ($50O) dollars and one
!, hundred (S100) dollars each; the
: same to bear interest at a rate not
= to exceep six (6) per cent. per an.
,, mum, to be paid on the first days
: of January and July in each year
!. at the Office of the county treasur.
; or of said county, or at such bank
. in the city of New York as may b,
designated by the board of county
commissioners. Said bonds to bt
i redeemed by the county in the fol
& lowing manner: ten per cent. o
It the total amount issued to be pai(
: from the date of issue and ten pc
e cent annually thereafter until al
" of said bonds are paid. Provided
;: that the issuing of such bonds b,
Is authorized by vote of two-third
o of the qualified electors of tn,
10 county voting at the aforesaid
v election, to be held for the purpos
8 above stated and at the time here
20 matter mentioned.
D Said special election by the quail
10 flied electors of Idaho county, Ida
20 no, shall be held in the severa
10 precincts of said county on Tues
id day the Goth day of August, A
1T ID. 1895, and at said election tn
y. ballot boxes shall be open at tn
10 respective polling places from tn
CO hours of 8 o'clock a. m. until
O'Clock p m. of the same day ft
the purpose of voting upon tn
ty, question of issuing bonds hereir
before mentioned, and such electio
- shall be conducted according I
s9s the general election laws of tn
s 90 state, so far as the same may |
4oo applicable and except as the san
is are modified by the provisions
geo geo the act above mentioned.
rs The following named persons al
40 10 hereby appointed judges and clerl
SIC s12 of election and the following plac
80 designated polling places in Il
s sSS respective precincts, to-wit:
500 Warrens Precinct j. Kelly Ed. Brood
$50 Judges J. b. Chamberlain Clerk polli
net Mace old iail n huildtp1