The Coeur d'Alene press. (Coeur d'Alene, Idaho) 1892-1907, 1895-07-27
Election Notice.

amended at the third session of the
legislature of the state of Idaho, APP
proved March $, 1895, the board of
county commissioners of kootenai
county, state of Idaho, made an exam
lhatlon into the financial condition of
the county aforesaid, and after eXamn-
ing the records and files of the board
ami the reports of the auditor and
treasurer OF the county, find that exclu
Slve of the bonded Indebtedness of the
county, that there is an outstanding in
deOtedneSs, as shown by warrants
issued prior To the second Monday of
January, y. ID, ISIS of S43, 5sl.2l, upon
which there is accrued interest up TO
the 3rd day of June, \. H. 1898, as near
us the same can be estimated, amount
ing to SI,0i1.91, which warrants the
board finds are valid aud legal obliga,
tons OF the county. The board further
hndS 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 Si1 6292 aud 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
De funded by the issue of bonds bearing
interest not to exceed six per cent. per
annum, said warrants are not at par
thus depreciatiny the credit of the
county and causing those who furnish
materials or perform services for the
county 10 charge above the market rate
Tor 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 ut Its last session passed "a Rev
enue Net 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
OF such counties are required
to levy Il special tax for the redemption
and payment OF said warrants, and it
wouid seem that in view OF the present
depression in trade and business that il
would be unwiSe 10 place any heavier
burdens on the taxpayers 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 il for the public good to issue
bonds of the county To fund the out
standing warrants. The board further
iuds, that as such bonds cannot be ne
gnt.ated and sold for some length OF
time that it Will be necessary to issue
bonds somewhat Ia excess of the pres
ant Indebtedness to cover the interest
tccrulnG up to the time OF the uegotia
ton and sale Of such bonds, which will
amount, as near rs can be estimated. -
the sum OF Si525.3t
And the board being fully advised in
the premises, L is hereby ordered, that
the board Of county commissioners f
hootenaI county Idaho, in pursuance
II the act Of the legislative assembly Of
he Territory OF Idaho. approved J1nu.
try -, Isl. and of the act Of the leris-
AZURE Of tue state OF idaho, ammeuda
DRY thereto, approved March ), 1898.
and of the provisions of the constitu.
ion OF the state OF Idaho, section 10.
Article 9 viii Issue and sell negotiable
'Oupon bonds of the said county Of
Nootenai, 10 the amount Of Sty,lJ4 30,
hat being the total amount Of the out
Indebtedness Of the county as
'gidcnced by warrants issued prior to
he second Monday of January. \. d.
80, including interest on said warrants
which has accrued and the probable
amount. Is near rs can be estimated
hat viii. accrue before the said bonds
an be- disposed Of and realized upon.
here being no money III the treasury
# the county applicable 70 the payment
# such Indebtedness, or so much Of
aid sum az may be necessary TO fund
uch Indebtedness and redeem said
:arraDts. and no more Of such bonds
hal! he Issued and sold than shall be
"ceesary for snch purpose, provided.
hat the issuing Of such bonds BE- first
uthor!zed by a vote OF two-thlrds Of
De qualified electors Of the county v0t
X at an election to be held for that ,
nrposc, as hereinafter provided. said !
oadS shall be issued. rs near as prar- !
cable, IN denominations OF one thous- ?
nd dollars, or If necessary in denomin. 4
tons Of tive hundred and one hundred .,
GLARS, aud viii bear interest a. 4 rate !
q 10 exceed SIX per cent. per aunum. +
~ interest to be paid on The first day :
January and the first day Of July IN Z
,ch year, at the Office Of the COUNT m
easarer, Or at such bank in the city Of =
ew oTa AZ may be designated By the "a
)aTd OF county commissioners. such nj
'nds to be redeemed by the county in q
e following manner: ten per cent Of -
= tota. issued to be paid in ten years 81
ON TIE date OF issue, and ten per cent n,
Ich year thereafter until all Of said s.
,nds are paid. ri III
Now therefore, Notice IS hereby given a.
at opeclai election by the qualified t..
4ctors Of kootenai county, state Of ",'
aho will he held in the several rre 81
nets OF said county, on Tnesday the ur
tn day Of August, \. d. $3.50, 1r
...''.....,....... precinct, place Of ~.
ldiup election a.