The Rathdrum tribune. (Rathdrum, Idaho) 1903-1963, 1906-04-13
ORDINANCE NO. 36.

y municipal corporation III !ne county o.
kootenai State of Idaho, providing Tor the |
issuance of municipal coupon bonds, by sain
Village Of Rathdruni, to the amount Oh
Twelve Thousand Five liunarro 1oiiarSS
Dollars each. payable within twenty years
from the issuance thereof, for the purpose or
purchasing the water works. water w sys.eM
Power Company, and improving. extending
and operating the same; and supplying the
inhabitants of said Village OF Rathdrum,
with water for domestic. fire and other, pur-
poses. And to empower said municipal cor
poration to sell said water to the inhabitants
| Of said municipal corporation. ana designate
ing the provisions to be made TO pay INC
| interest OH the said bonds and to constitute
IA hiking fund for The payment OF the prln-
cipal of the same within twenty years from
| the date of their issuance. and providing for
| the holding of an election authorizing the
Chairman and Board of Trustees OF said
/ municipal corporation to issue said bonds.
Be it ordained by the Chairman and Board
of Trustees Of the Village Of Rathdrum
a%Y By Ssae OF she
laws of the State of Idaho as follows, to-wit:
Section l.. That the chairman and trustees
of the said municipal corporation deem Il
of the said Village Of Rathdrum, muhici.
pal corporation. situated In the County OF
Twelve Thousand Five Hundred dollars, In
denominations of Five Hundred Dollars
each, for the purpose, Of purchasing the
water rights of the Rathdrum Water 4 Pow
er Company. u corporation. created, organ
lied, and existing under and by virtue OF the
laws of the State OF Idaho; said water works
and water system and water rights, Delng
situated at and near the Village OF itilth-
drum, in said County OF kootenai state oi
Idaho; the purchase price of said water
! works, water system and water rights 10 De
the sum OF Seven Thousand FIVE Hundred
Dollars (S7.5OO). The remaining Five Thous-
and Dollars to be realized out of the sale OF
the said municipal coupon bonds is to be
applied to the Improvement and extension
OF said water works and water system by
said municipal corporation in order that The
inhabitants Of said municipal corporation
may secure Il more efficient and satisfactory
water service.
shall be made payable within twenty, years
: from the date of their issuance, and shall
bear interest at the rate of six per cent. pei
annum. payable semi-annually. and such
bonds shall be redeenabe ut the pleasure
: of the Village of kathdrum a municipal
At any VT tine a,er 1ng
= and said bonds and the interest thereon
shall be payable at the office Of the treasur
I, Il r of the said municipal corporation or al
such banking; house or trust company in thu
: City of New York rs may be designated by
the Trustees of said municipal corporation
S at the option Of the holder or holders of sale
| Section Ill. The said Chairman and Trus
tees OF the said municipal corporation, ant
pay the interest on said municipal coupon
bonds as it shall fall due at the rate of 81,
per cent; per annum by levy and collectio,
of u sufficient annual tax upon the taxable
property situated within the limits Of Sait
municipal corporation.
Section ~. The Chairman and Board o
G Trustees OF said municipal corporation, ant
their successors in Office, are to provide TO
I the creation and constitution OF IA sinkin!
fund for the payment of the principal o
said municipal bonds as they respectively
+. become due. by the annual levy upon all TIN
taxable property. situated within the limit
of said municipal corporation of IL suffcien
sum to pay said municipal coupon bonds a
maturity, and the faith and credit of SAT-
municipal corporation and all taxable prop
are hereby, and will continue to remain
/. pledged to the levy and collection of the TIA
necessary to pay said interest upon and tn
principal sum of, said bonds as the same be
come due.
=. Section V. That the Chairman and Bo,r'
Of Trustees Of said mnnicipai corp9rat!o
o of the qualified electors who are taxpayer
of and IN the municipal corporation Of tn
said Village of Rathdrum to vote upon tn
proposition as to whether or not said Chair
man and Trustees shall be authorized to is
sue said municipal coupon bonds; said elec
Village Of Rathdrum, on Tuesday, the st
4 day of Nav, A. d. 1906, between the hours O
eight o'clock of the forenoon of said day ant
i seven O'Clock of the afternoon thereof.
Section VI. That the said Cha rnian an,
Board of Trustees of said municipal corpu
ration shall give not less than thirty days
election, by publication Of said notice in TIL
/ Rathdrum Tribune weekly newspaper
/ published in the said municipal corporation
Il in at least six successive issues of said pape
i before said election.
Section VII The vote mt said electio
/ shall be by ballot, and the ballots used sha
/ be AS follows to-wit:
/ In favor of issuing bonds to the amount c
/ Twelve Thousand Five Hundred Dollar
/ for the purpose Of buying and improving tn
/ water works. water system and water right
/ of the Rathdrum Water & Power Company
/ as stated in Ordinance No. 49,
Against issuing bonds to the amount c
/ Twelve Thousand Five Hundred Dollars fu
/ the purpose OF buying and improving tn
/ water works, water system and water right
/ of the Rathdrum Water & Power Compan,
/ as stated in ordidance No. 49,"
Section VIII. That this ordinance sha
| take effect within one month after Its pas.
| age, and that 1t shall he publishsd for fou
| successive weeks Immediately after il
| passage in the Rathdrum Tribune. Il weelil
| newspapers. published ut Rathdrum, in TIL
l County of kootenai, State of Idaho.
/ Read the first time and its passage vote
| for unanimously March Is, 1906.
| Read the second time and its passage vote
/ for unanimously March 10, 1905.
/ Read the third time under suspension c
the rules, and enacted by Il unanimous vot
| March 49, 1906
W. A. HART,
lSEALI Chairman.