The Emmett index. [volume] (Emmett, Idaho) 1893-1925, 1908-05-14
Ordnance No 50.

An Ordinance TO submit TO the qualified electors
and taxpayers OF the village OF Emmett. Ida
| no, the question Of issuing coupon bonds OF
said village TO the amount Of Twenty-Five
thousand dollars for the purpose OF providing
for the construction and maintenance OF nee
essary waterworks In the said village and
supplying the same with water, and also 70
provide for the establishment, equipment and
| maintenance OF . fire department. In said vii.
| necessary apparatus and buildings and build
| Ing sites for the thereof, and 10 provide
for the issuing OF said bonds, and TO provide
| for the puyment OF interest thereon, and TO
| create sinking fund for the payment OF the
| principal thereof by the levy OF municipal
taxes OF the village OF Emmett, Idsno'
| Whereas The chairman and board OF trustees
| OF the village OF Emmett, Idaho, deem II advis-
| able 70 issue coupon bonds OF said village Of
| Emmett 10 the amount OF twenty-five thousand
dollars q sum within the statutory limits OF the
| statutes OF the state OF Idaho; and
Whereas, The authority 10 issue such coupon
bonds has been vested py an acL Oh .ns isgisia-
2nd, 1899,
Be |, Ordained by the Chairman and Board Of
Trustees OF the Village OF Emmett Idaho.
Section That there shall be issued by the
village OF Emmett, Idaho, municipal coupon
bonds 10 the amount OF twenty-five thousand
dollars 10 bear interest and 70 be paid by means
OF sinking fund to be created as hereinafter
provided, providing two-thirds OF the quailned
electors and taxpayers OF said village voting at
q special election held as herein provided, shall
assent 10 the issuing OF said bonds.
Section 2. Said bonds shall be issued In de-
nominations OF one thousand dollars each, num-
bered consecutiyely and shall bear per cent
interest payable semi annually on the LIST day of
January and the LIST day OF July In each year.
evidenced by interest coupons attached 70 such
bonds both principal and interest 10 be made
payable In lawful money OF the United States
and interest payable at the option OF the holder
OF any such bonds at the once OF the village
treasurer OF the village OF Emmett, in Canyon
county. Idaho, or at the Chase National Bank
in the City and state OF new York. which bank
is designated for such purposes The principal
81 "A hzzA l,a11 ha nal ut n
village treasurer OF said village Of Emmett Ida
no, twenty years after the date thereof but may
be redeemed at the pleasure OF said village OF
Emmett at any time after the expiration OF ten
years from the date OF the issuing thereof and
each bond must be redeemed in the order OF It's
number.
Section That said bonds shall be issued
for the purpose OF providing for the construction
and matntt nance Of waterworks In the village OF
Emmett, Idaho, and supplying the same with
water, and also TO provide for the establishment,
equipment and maintenance OF q fire department
in said village, and for the purchase OF suitable
and necessary apparatus and buildings and
thousand dollars (S220OO) OF said bonds 70 be
used In the construction and maintenance OF such
water works and three thousand dollars 5000
of said bouds 10 be used for the establishment.
equipment and maintenance OF such fire depart
ment and for the purchase of suitable and neces-
sary apparatus and buildings and building sites
for the use thereof.
Section 4. There shall be levied, assessed and
collected annually upon the taxable property OF
SAfQ Village OF Emm6LLt special taxes III auQl-
ton to other taxes authorized by law which will
produce sum sufficient 10 pay the interest on
such bonds each year as II becomes due, and
also sufficient to produce the sum of twenty-five
hundred dollars per year on and after the year
1919 until such bonds shall be paid, which shall
constitute sinking fund for the payment OF the
sane such sinking fund shall be kept separate
and apart from ell other moneys and funds In
the village treasury and shall be held, and that
the income thereof may be safely invested by
the chairman and board Of trustees OF said VII
and Shall be used at the discretion said
and board OF trustees to redeem said
bonds III their numerical order after ten years
from the date OF issuing said bonds and for no
other purpose.
Such taxes shall be levied, assessed aud col
lected as other village taxes until the bonds so
issued shall be fully paid including the interest
thereon and the faith, credit and all taxable
within the limits OF the said village OF
Emmett shall be and continue TO be pledged,
and the proper officers OF said village shall con-
tinue TO assess and collect on all taxable prop
erty within the limits OF said village such special
taxes and apply them TO the payment OF such
bonds until the whole thereof together with in
tereSts, shall be paid. Should the taxes for the
payment OF the interest on any such bonds at
any time not be levied or collected in time TO
meet such payment, the interest shall be paid
out OF any money in the general expense fund OF
said village and the money so used for such pay
ment Of interest must be repaid to the fHnd
from which 1t is taken, out OF the first money
collected from such special taxes.
Section 5. A special election shall be held in
the Village Of Emmett Idaho, on the 30th day OF
June, 1908, for the purpose OF voting upon the
question OF issuing such bonds, at which election
The polls shall be opened and remain open for
the same length OF time as other elections and
the election shall be conducted in the same
as other village elections.
Al such election none but qualified electors
who are taxpayers shall be entitled to vote.
Section g. The village clerk is hereby author
zed and directed to give at least thirty days
notice OF the election provided for In section
I've OF this ordinance, in the Emmett Index
newspaper published III ana in general circula-
ion in said village, which is hereby designated
or that purpose.
section T. The voting at such election Shall
)e by ballot and the ballot used shall be SUBJ
tantially as follows:
In favor OF the issuing bonds to the amount OF
twenty-five thousand dollars for the purposes
tated in ordinance No. 50, and against issuing
,OndS TO the amount of twenty-five thousand
ollars for the purposes stated in ordinance No.
y.
Section s. II upon canvassing the returns OF
UGH election two-thirds or the qualified elect
rs who are taxpayers in the said village of
Emmett, voting at such election, assent to the
ssuing OF such bonds and the mourning of the
Indebtedness thereby created for the purposes
foresaid, the trustees OF said village shall pro-
eed TO provide for the issuing and sale of Such
onds according to law.
Section 9. This ordinance shall be In force
nd take effect Immediately after its passage
pproval and publication.
Passed this 7th day of May, I90S5
Approved this It'll day of May. 1908
Z. p. BILDERBACK,
Attest: Chairman