The Coeur d'Alene press. (Coeur d'Alene, Idaho) 1892-1907, 1895-08-03
Election Notice,

{ s'S'ioVu STATUTES VI iustlio, us
amended at the third session of the
legislature of the state of Idaho, ap-
proved March s, 1898, the board OF
county commissioners of kootenai
county, state of Idaho, made an exam
nation into the financial condition OF
the county aforesaid, and after examin-
ing the records and files Of the board
ana the reports of the auditor and
treasurer of the county, find that exclu-
sive OF the bonded Indebtedness of the
county, that there is an outstanding in,
debtedness, rs shown by warrants
issued prior to the second Monday OF
january, A. ID. 1875 of S43, 5Sl. "A, upon
which there is accrued interest IN to
the Srd day of June, \. ID. 1895, as near
as the same can be estimated, amount
ing to S4uI9I, which warrants the
board finds are valid and legal obliga-
lions 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.
fled, at Si1 1921. and the board further
finds that said warrants are drawing in
terest at the rate OF seven per cent. per
mnum which the board believes could
be funded by the issue of bonds bearing
interest not to exceed six per cent. per
anhum, sad warrants are not ut par
thus deprecia,!ng 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 carving
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
of such counties are REQUIRED
TO levy special tax for the redemption
and payment OF said warrants, and 4
would seem that in view of the present
depression III trade and business that il
would be unwlSe to place any heavier
burdens on the taxpayers of the county,
necessarily heavily taxed, by
the imposition of any additional tax
unless sanctioned by vote OF the
county; for these reasons, the interests
Df the county require and the board
leem 1t for the public good to issue
bonds of the county to fund the out
warrants. The board further
lndS, that as such bonds cannot be ne
sotlated and sold Tor some length Of
Tine that it Will be necessary 10 issue
bonds somewhat in excess OF the pres
Ant Indebtedness to cover the interest
lccrulng up To the time OF the, uegotia- .
.iOn and sale of such bonds. which Will
as near as can be estimated. 70
he sum of 81 ,52J.3i.
And the board being fully advised in
lie premises, it is hereby ordered that
he board Of county commissioners of
>Ootenai county, Idaho. in pursuance
II the act OF the legislative assembly of
he territory OF Idaho, approved .Janu,
Try 20, 1881, and of the act Of the leCis-
attire of the state of Idaho. ammenda
DRY thereto, approved March ). 1885,
ND OF the provisions of the coustitu-
ION or the state OF Idaho, C>ection IL.
Article ~ VIII issue and sell negotiable
oupon bonds OF the said county of
>0oteuai, to the amount OF SIglJI55
nat being the total amount of the out
Indebtedness OF the county as
Vldenced by warrants issued prior to
he second Monday Of January, \. ID.
so, including interest on said warrants
ihich has accrued and the probable
mount, as near as can be estimated.
hat VIII accrue before the said bonds !
an be disposed Of and realized upon, !
iere being no money IN the treasury
the county applicable to the payment
such Indebtedness, or so much Of '
iIu sum AS may be necessary to fund /
ich indebtedness and redeem said !
arrants, and no more Of such bonds j
iall be issued and sold than shall be :
70 eesary for such purpose, provided. ?
lat the Issuing of such bonds be first p
lthorized by vote of two thirds Of a
'e qualified electors of the county yot- i
Z at an election TO be held for that ?
lrpose, as hereinafter provided. said i
'hds shall be issued as near as prac. J.,
cable, III denominations Of one thous- u
III dollars, or If necessary in denOnin. T.
IONS Of five hundred and one hundred =,
liars, and vii! bear interest at n rate IL
II 10 exceed SIX per cent. per annum. II
e interest to be paid Oh the first day -
January and the first day Of July IN -
ch year at the office Of the county n,
'aSurer, or at such bank in the city of s.,
W ork as may be designated by the =,
ard Of county commissioners, such NJ
nds to be redeemed by the county in 81;
following manner: ten per cent Of ~
total issued to be paid in ten years ri.
I'm the date OF issue, and ten per cent ~ n,
;ii year thereafter until all Of said 81
Ids are paid. o ~
Now therefore, Notice Is hereby given az a.,
1t special election by the qualified lie
ctors Of koOtenai county, state Of n"
lho, will be held in the several pre- "a "a
eta of said comfy, oil Tuesday the ur
h day OF August, a. d. 1898, =. 5000. o.,
,,raoir.. H., CDs
ding election J,,