Mountain Home maverick. [volume] (Mountain Home, Idaho) 1906-1911, 1908-06-18
ORDINANCE NUMBER 90

o6S y SeSii anu uCoi ehd'itie lux
provisions made to pay the in
terest on such bonds as it falls
due and also to constitute q
/, sinking fund for the payment
of the principal within twenty
years from the issuance CT such
bonds; and also providing for the
holding of an election and the
4 giving of notice of such election
i to determine whether said cou-
4 pom bonds shall be issued.
Be it ordaine by the Chairman
4 and Board of Trustees of the viii
lage OF Mountain Home.
Section 1. For the purpose of
laying constructing and equipping
a sewerage and drainage system in
and under the streets and all US
of the village of Mountain Home,
the said Village shall issue NUM-
cipal coupon bonds to the amount of
forty thousand dollars, of the de-
nomination IF one thousand dollars
each, due twenty years from the
Date OF issuance, drawing interest
at six per cent per annum.
Section 2. A special election of
the qualified electors of the viii
lage of Mounain Home who are al
SO taxpayers of said village, which
election shall re conducted as other
village elections, is hereby called
TOR the 2lst day of July, 1908, in
the county court house situated in
block number / 6 of the town of
Mountain Home according to the
plat OF the said town now on
lille in the office of the county
recorder of Elmore county, Idaho
The voting snail be by ballot and
be In favor of issuing bonds to
the amount of forty thousand dol
lars for the purpose stated in ordi-
nance number go and against
issuing bonds to the amount of for
ty thousand dollars for the purpose
stated in ordinance number 90.
The chairman of the board of
trustees shall secure the necessary
election Supplies and appliances.
Section 3. The chairman and
clerk of the village shall give no.
tice in the Mountain Home Maver-
lex for thirty days, of the special
election provided for in section 2 of
this ordinance.
Section 4. In order 20 consti-
tute fund to pay the interest on
such forty thousand coupon bonds
as IT falls due, and also to consti-
tute sinking fund on and after
the years 1908, for the payment of
the principal of such municipal
bonds within twenty years from
the date of the same, there shall
be levied and collected, annually
upon all the taxable property with
in the village of Mountain Home,
in addition to all authorized taxes.
special tax each year producing a
sum sufficient to pay the interest
falling due on such municipal
bonds in that year and when any of
such bonds have been paid, then
the sum of two thousand four
hundred dollars each year, less the
annual amount of interest -on such
municipal bonds as shall have been
paid and also producing the sum
OF four thousand dollars additional
each year on and after the year
1908 to constitute a sinking fund
Tor the payment of the principal of
su n municipal bonds; said sinking
fund to be seperate and distinct
from all other funds or monies and
to be held and kept as a fund out
of which to pay the principal of
such municipal bonds and to be
held and safely invested with the
income thereof III such manner as
the chairman and board of Trustees
from time to ii shall direct and
the same or any part thereof may
from time to time be applied in the
discretion of said chairman and
board of trustees to the redemption,
in numerical order. after 1918 of
any of such municipal bonds, it be-
ing the intention and purpose hcte-
OF to make full and adequate pro-
vision for the collection OF an an
nual tax sufficient to pay the inter
est on such municipal bonds as it
falls due, and also to co stitute a
sinking fund on and after the year
1881 for the payment of the prin-
cipal Of such municipal bonds land
within twenty years from the time
OF contracting the debt evidenced
by the same; and such special tax
shall be levied, assessed and col
lected annually, as other city taxes
are and in addition thereto the
faith and credit of and all the tax
able property within the village of
Mountain Home are and shall con-