Shoshone journal. [volume] (Shoshone, Idaho) 1884-1931, 1908-07-24
Proceedings Of the Board Of COur.
ty Commissioners.

Re il remembered that on this 18th
a.y of July. A. d. 1908, at O'Clock,
a. m, pursuant to statute, the board
ii county commissioners of Lincoln
oonntv State of Idaho, met in regular
session.
Present: I. H. lines. chairman; John
cnyran and Frank e. Crosse, commits
.;,ners. and Harry W. Anderson, clerk.
In the matter of the refunding of
co. 10000 Lincoln County Bonds, by
esrr34 motion the following resolution
was adopted;
Whereas, Lincoln County. Idaho, is
Indebted on account of the bonds which
the county board has examined and has
found and declared and does hereby
find and declare are the valid, binding,
legal and subsisting obligation of Lin
coin County, which became due on the
first day of July, 1908; and,
Whereas, there is no sinking fund on
hand for the payment of said bonds;
therefore,
BE it Resolved by the board of county
commissioners of Lincoln county, Idaho,
that for the purpose of refunding the
bonded indebtedness of Lincoln county
IN the amount of twenty-eight thousand
dollars 1928, OOO), which came due on
the first day of July, there are hereby
authorized to be issued refunding bonds
of Lincoln county to the amount of
twentv-eight thousand dollars, dated
the first day of July, 1903, and bearing
interest evidenced by coupons at the
rate of FIVE and one-half per centum
per annum, payable semi-annually.
Twenty (20) of said bonds shall be
issued in denominations of one thousand
dollars Isl, OO0) each, and ten (lO) of
said bonds shall be issued in denomin-
atoms of FIVE hundred dollars $500
each, and thirty 800 of said bonds shall
he issued in denominations of one hun
deed dollars (S10O) each shall become
due on the first day of July in each of
the yearc 1918 to 1927, both inclusive.
Both principal and interest of said bonds
shall be made payable at the Chase
National Bank in the city of New York,
State of New York.
Be it further resolved that the bonds
hereby authorized shall be in substan-
TALLY the following form:
UNITED STATES OF AMERICA
No -. STATE OF IDAHO 5 49,.
LINCOLN COUNTY REFUNDING BOND.
Know all men by these presents, that
the county of Lincoln in the state of
Idaho, acknowledges to owe and for
value received hereby promises to pay
to bearer .. Dollars Is .... }
lawful money of the United States of
America on the first day of July, A. D.
10 with interest thereon from the
date hereof at the rate of five and one
half 90 per eentum per annum pay
able semi annually, on the first day OF
January and July in each year on pre-
sentation and surrender of the annexed
interest coupons as they severally be-
come due.
Both principal and interest of this
10 d are hereby made payable at the
Chase National Bank in the city of New
York, state of New York, and for the
prompt payment of this bond and the
interest thereon the full faith, credit
and resources of Lincoln county are
hereby pledged.
This bond is one of series of like
tenor (extept maturity issued for the
purpose of refunding the bonded indebt-
edness of Lincoln county under the
authority of Sections 1902 to 96l5, in
elusive. of the Revised Statutes OF
Idaho as amended.
1t is hereby certified and recited that
all acts, conditions and things required
to be done precedent to and in the issu
ing of this bond have been done, hap
pened and been performed in regular
and due form as required by law; that
the indebtedness refunded into this
bond was and is a valid, binding and
subsisting obligation of Lincoln county;
that direct annual tax has been levied
upon all the taxable property of Lincoln
county for the payment Of this bond
and the interest thereon and that the
total Indebtedness of said Lincoln coun-
ty, including this bond, does not exceed
the constitutional or statutory lmita-
tions.
In testimony whereof, the board OF
county commissioners of Lincoln county,
loo, have caused the seal Of said
board to be hereto affixed and have
caused this bond to be signed by the
chairman of the board, attested by the
clerk, countersigned by the county
treasurer and have caused the annexed
interest coupons to be signed with the
fac-simile signature of said treasurer
this first day of July, 1908.
q .