Mountain Home maverick. [volume] (Mountain Home, Idaho) 1906-1911, 1908-06-25
ORDINANCE NUMBER 90

age system and designating the
provisions made to pay the in
tercst on such bonds as it falls
due and also to constitute a
sinking fund for the payment
of the principal within twenty
years from the issuance of such
bonds; and also providing for the
holding of an election and the
giving of notice of such election
to determine whether said cou-
pom bonds shall be issued.
Be it ordainci by the Chairman
and Board of Trustees of the viii
lage of Mountain Home.
Section l.. For the purpose OF
laying constructing and equipping
sewerage and drainage system in
and under the streets and alleys
of the village of Mountain Home,
the said Village shall issue muni-
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
lsge of Mounain Home who are al
SO taxpayers of said village, which
election shall Re conducted as other
village elections, is hereby called
for the 21st day of July, 1908, in
the county court house situated in
block number ! E of the town OF
Mountain Home according to the
plat of the said town now on
file 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 90 and against
issuing bonds to the amout Of thir-
ty thousand dollars for the purpose
stated in ordinance number go.
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 Mavcr-
lex for thirty days, of the special
election provided for in section 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,
a special tax each year producing a
sum sufficient to pay the interest
failing 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 beer
paid and also producing the sum
of four thousand dollars additional
each year on and after the yeai
oOS to constitute a sinking func
for the payment of the principal o.
such municipal bonds; said sinking
fund to be scpcrate and distinc
from all other funds or monies ant
to be held and kept as fund GU
of which to pay the principal o
4 such municipal bonds and to b.
: held and safely invested with tn
income thereof III such manner a
the chairman and board of trustee
from time to tia shall direct an
the same or any part thereof ma.
from time to time be applied in tn
discrc elton of said chairman an
: board of trustees to the redemption
u in numerical order. after 1913 {
any of such municipal bonds, it be
: ing the intention and purpose here
of to make full and adequate pre-
: vision for the collection of an ar
nual tax sufficient to pay the intc'
est on such municipal bonds as
falls due, and also to co stitutc
sinking fund on and after the yea
1881 for the payment of the prir
= cipal of such municipal bonds ian
within twenty years from the tin
of contracting the debt evidence
= by the same; and such special ia
shall be levied, assessed and co
lected annually, as other city tax
are and in addition thereto II
faith and credit of and all the ia,
able property within the village