The Coeur d'Alene press. (Coeur d'Alene, Idaho) 1892-1907, 1895-07-13
Election Notice.

amended ut the third session or tie
legislature of the state of Idaho. APP
proved March s, 1895, 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
aud the reports of the auditor aud
treasurer of the county, lind that exelu,
Sive of the bonded indebtedness OF the
county, that there is an outstanding in.
debtedneSS, us shown by warrants
issued prior to the second Monday of
January. y. ID. 1875 of Si3, ISL. 2i, upon
which there is accrued interest up to
tile Srd day of June, a. ID. 1898, rs near
as the same can be estimated, amount
ing to S4,NI.91, which warrants the
ooard finds are valid and legal obliga-
tons OF the county. The board further
hnds that there is now in the treasury
or the county no money applicable to
the discharge of such Indebtedness,
leaving the outstanding Indebtedness OF
the county It's evidenced by such war
rants. including interest as above speci-
fed, at Si1 ,629.2l, and the board further
finds that said warrants are drawing in
tereSt ut 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
annnm. 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 10 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 "A Rev
enue Act 10y 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
missloners OF such counties are required
to levy il special tax for tie redemption
and payment OF said warrants. and 1t
would seem that i'll view Of the present
depression in 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 1t for the public good to issue
bonds OF the county TO fund the out
standing warrants. The board further
hndS, that as such bonds cannot be ne
gotlated and sold for some length of
time that it viii be necessary to issue
bonds somewhat III excess of the pres.
ent Indebtedness to cover the interest
accrulms up 10 the time of the negotia-
ton and sale Of such bonds, which VIII
amount, as near as can be estimated, to
the sum OF Sl.525.3i.
And the board being fully advised in
the premises, it is hereby ordered, that
the board of county commissioners Of
hootenal county. Idaho. in pursuance
or the act of the legislative assembly of
the territory of Idaho, approved Ianu.
airy %, 1857, and of the act OF the legis-
Iature of the state Of Idaho, ammeuda.
tory thereto, approved March 5, 1895.
and OF the provisions of the constitu-
ton Of the state OF Idaho, f>cctiou Is
Article - will issue and sell negotiable
coupon bonds Of the said county Of
hootenal, to the amount Of SlglJtJ5
that being the total amount OF the out
standing Indebtedness Of the county as
evidenced by warrants issued prior to
the second Monday of january. \. ID.
1873, including interest on said warrants
which has accrued and the probable
amount, as near as can be estimated.
That will accrue before the said bonds
an be disposed of and realized upon.
here being no money in the treasury
II the county applicable to the payment
IF such Indebtedness, or so much Of
aid sum az may be necessary to fund
uch Indebtedness and redeem said
warrants, and no more of such bonds
hal be issued and sold than shall be
i-t ees'ry for such purpose. provided,
hat the Issuing of such bonds be first
authorized by vote of two-thirds of
he qualified electors of the county yot
1S at an election to be held for that
purpose, rs hereinafter provided. Said !
oid5 shall be issued, as near as prac-
lcaD!e. IN denominations Of one thOus- 7
nd dollars, or If necessary IN denomin- (
lions Of five hundred and one hundred =
0i!ars, and Will bear interest at rate
OF to exceed six per cent. per annum, t
~ interest TO be paid on the first day !,
January and the first day of July in
tch year, at the Office of the county d
easurer, or at such bank in the city Of I
tw DIRK az may be designated by the $
1ard OF county commissioners, such p
1nds to be redeemed by the county in y
le following manner: ten per cent Of q
'e total issued TO be paid in ten years b
ON the date Of issue, and ten per cent ~ 81
lch year thereafter until all Of said 3
,nds are paid. Of
Now therefore, Notice is hereby given SnII
at special election by the qualified IL
,..a.. = - IA
sctors OF kootenai county, state Of II,
aho, will be held in the several pre-. -
nets OF said county, on Tuesday the ~
tn day Of August, a. ID. 1895, ..... e.
,r.o;.. . 90
.pictihct, place OF an
ldiug election. dd
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