Idaho County free press. [volume] (Grangeville, Idaho Territory) 1886-current, 1902-07-10
Notice Of Village Election.

RoOu SOiu mining luVestIucHu.
Notice of Village Election.
To the Electors of the Village
of Grangcville, Idaho County,
Idaho:
Whereas, The Board Of Trustees
Of the said Village of Grangeville,
pursuant to the powers in them
vested by the provisions Of an act
of the legislature Of the state Of
Idaho entitled Gan act to provide
for the issue and sale of municipal
coupon bonds by Incorporated cities
and towns; for the application Of
the funds derived from the sale
thereof, and to provide for the pay
ment Of the principal and interest
thereon" approved February 2,
1899, duly passed an ordinance of
said village entitled San ordinance
providing for the issuing of NUM-
cipal coupon bonds for the purpose
OF providing funds for the erection
of a village hall and office building
and to purchase building site
therefor; to provide for the sub
uniting of the question of the issu-
ance of said bonds to n vote of the
electors of said village and calling
a special election therefor" Which
ordinance was passed and approved
June Z, 1902, and is numbered and
known and recorded in the ordi-
nance record book of said village
as Ordinance No. IS, and which
ordinance provides as follows:
SECTION l. That upon the APP
prevail and ratification of this ordi-
nance by two-thirds of the quail
fled electors, who are taxpayers Of
the village, voting at the election
hereinafter provided for and as
senting to the issuing of the bonds
and to the mourning Of the indebt-
ness hereinafter provided for, for
the purposes hereinafter specified,
there shall be issued coupon bonds
of the said village Of Grangeville to
the total amount of $4,000.
SEC. 2. That the purpose of
issuing such bonds is to provide
funds for the erection of a public
village hall and Office building for
the use and accommodation of the
officers of said village in the trans
action of public business, and for
the purchase of a building site
therefor for the use of said village.
| SEC. 3. That the estimated cost
of said building and building site
is the sum Of $1,000, and that it is
deemed advisable to issue coupon
bonds for the entire amount of said
proposed Indebtedness.
SEC. 4. Such bonds shall be
known as municipal coupon bonds
of the village Of Grangeville, Idaho
county. state of Idaho; shall be
issued in denominations Of $1,000
each; shall be numbered consecu-
lively from one to five; shall be
made payable twenty years from
date of issuance, and shall bear in.
terest at the rate Of not exceeding
six per centum per annum, to be
paid on the first day Of January
and on the first day Of July of each
year at the Office of the village
treasurer, or at such banking house
or trust company in the city of New
York as may be designated by the
trustees of said village, at the OPP
, ton of the holder thereof. Pro-
vid.d, That such bonds shall be re-
deeraable at the pleasure of the said
| village at any time after the expi-
ration Of ten years from the date
of issuance, and each bond shall be
redeemed in the order that it is
J numbered.
SEc. 3. Such bonds shall be me-
gotiated, sold, issued, registered
and delivered by the board OF
trustees and the officers of the said
village in strict compliance with
the provisions of sections 4 and )
} of an act of the Legislature of the
state OF Idaho entitled can act to
provide for the issue and sale of
municipal coupon bonds by incor-
porated cities and towns; for the
application of the funds derived
} from the sale thereof, and to pro-
vide for the payment Of the prin-
cipal and interest thereon" APP
proved Feb 2, 1899. Such bonds
shall be sold for cash, and in no case
must said bonds be sold for less
than the face or par value. All
proceeds derived from the sale Of
said bonds shall be applied exclu-