Montpelier examiner. [volume] (Montpelier, Idaho) 1895-1937, 1905-09-22
tEdVU

1870 l943, inclusive of the Political Code Of
Idaho, edition of 1901, issue and sell rwenty.r
Eh0asaad- Five Hundred Dollars OF negotiable
municipal coupon bonds of the said CITY of
-Aohspelier, in Bear Lake County Idaho, for
the purpose OF securing funds with which to
construct, acquire and maintain system of
water works for said city and to supply the
same with water for municipal. fire protection,
domestic, commercial and sanitary purposes and
uses by said city and the inhabitants thereof,
which bonds shall draw interest at the rate of
not to exceed six per cent. per annum PAYABLE
semi nnually ON the first day of January and
the first day OF July in each year at the office of
the city treasurer of said city or at such bank
ing house or trust company in the City of New
York as may be designated by the Mayor and
Council at the option of the holder thereof:
said bonds to be of the denomination of one
Thousand dollars each except Nor - yi1fcfr sffsrff
hefe &1o6seo, and the said bondsshall be num-
bered consecutively from /, each of which bonds
shall have attached thereto semi-annual inter-
est coupons covering the interest expressed in
the bond from the date OF issue until paid;
said bonds shall lie payable within twenty
years from the date of their issuance, and shall
be redeemable at The pleasure of said city at any
time after the expiration of ten years from the
deemed in the order it is numbered; and said
boad shall comply in all respects in form and
substance with the provisions of the act of the
Legislature of the State Idaho described above
in this section pursuant TO and by virtue of
which the same are issued. Provided, however.
that the bonds here in above provided for shall
not be issued sold until two thirds of the
qualified electors who are taxpayers, of said
City of Montpelier voting at special election
hereafter called and held for that purpose as
provided in Sections 4, 5 and of this Ordinance
shall assent to such issue and sale thereof
Section 2. That in order to provide a fund
with which to pay the interest ON such S22 500 90
municipal coupon bonds as it falls due and also
to constitute sinking fund on and after the
year 1915, for the payment of the principal of
such municipal coupon bonds within twenty
years from the date Of the issuance of the same
there shall be levied, assessed and collected an.
nually upon all of the taxable property within
the said City of Montpelier. In addition to all
other authorized taxes, u special tax each year
producing q sum sufficient to pay the interest
falling due on such municipal bonds in that
year, and also producing the sum of -$8a5osee ad-
ditional each year on and after the year 1915 to
constitute q sinking fund for the payment OF
the principal of such municipal coupon bonds
said sinking fund tn be separate and distinct.
from all other funds or MONEYS of said city, and
to be held and kept as q fund out OF which TO
pay the principal Of such municipal bonds, and
TO be held and safely invested with the income
thereof, in such manner rs the Mayor and
Council shall from time to time direct, and the
same or any part thereof may from time to time
be applied in the discretion of said Mayor and
Council. TO the redemption, in numerical order,
after the year 1918 of any such municipal bonds;