The Parma herald. (Parma, Idaho) 1903-1917, 1909-02-11

AN ORDINANCE fRCVlDlNG FOR THE lshU-
ANcE OF WATER WORKS AND SEWER
BONDS BY THE VILLAGE OF PAR
MA:
Be it ordained by the Chairman and
Board OF Trustees of the Village of Par
ma:
Section l. That for the purpose OF
providing for the construction and main
tenance of the necessary water works
and supplying the same with water, and
for the laying, constructing, eqnipping
in the Village of Parma, there. shall be
and there is hereby authorized to be is
sued the negotiable coupon bonds OF
said Village to the aggregate of Twelve
Thousand Dollars Said bonds shall
bear date of April 2, 1909, shall be mum
bered from one % to twenty four (24),
inclusive shall be of the denomination
Of Five Hundred Dollars each shall be-
come due nd payable April /, 1929, but
shall be redeemable at the pleasure OF
said Village of Parma, at any time after
the expiration of ten years from THEN
date The raid bonds shall bear inter
est at the rate OF Six per cent. per an
mum, payable remi-annually ON the first
day of january and the first day of July
in each year, which said interest shall
he evidenced by proper coupons attach
Ell to each bond and both principal and
interest OF said bonds shall he payable
at the Office OF the Treasurer Of the Vii
iage of Parma or at the banking house
of the First National Bank in the city Of
New York, State Of New York, at the
option of the holder thereof.
Section e. The said bonds shall be
sighed by the Chairman Of the Board OF
Trustees, attested by the Village Clerk
and counter-igned by the Village Treas
urer, and the'corporate seal Of SAID vii
lage shall be affixed to each bond the
coupons attached to each bond and
evidencing the interest thereof shall be
signed by the Village Treasurer.
Section 3. For the purpose Of submit
ting the question of the Issuance of the
bonds provided for in this ordinance to
the qualified Electors of the Village OF
Parma who are taxpayers, special
election ID hereby authorized and direct
ed to be duly called and held in said
Village uf Parma on tile fifteenth day OF
March, 1900, and thirty days notice OF
said special election shall be given by
publication in the Parma Herald, a
newspaper now printed and published
in said Village; and the Chairman OF
the Board Of Trustees and the Village
Clerk are hereby authorised and direct
ed to prepare and have published a
proper form of notice of such election as
by law and la this ordinance re-
quired.
Section 4. For the purpose of provid-
ing for the payment of said bonds and
the interest thereon as and when the
same shall mature, there shall be and
there is hereby levied on all of the tax
able property Of said Village of Parma,
in addition to all other taxes, the follow
ing direct and continuing annual taxes,
to-wit In each of the years 1908 to 1928,
inclusive, there is hereby levied the sum
of Seven Hundred and twenty Dollars
(s720) for interest and In each Of the
years 1919 to 1923, inclusive, there is
hereby levied the sum Of Twelve Hun
dred Dollars (sl2o0) for principal, An
said taxes so levied as aforesaid, shall b
extended and collected at the SAM
time, ia the same manner, and by tia
same officers as the other general take
of said village are extended and collect
ed, and said sums so levied for princi
pal shall, when collectedi be deposite'
in a separate fund to be known an
4 designated as "Water Works and Sew
D ers Bond Sinking FUND.-" which shall b
held and kept inviolate except for tn
purpose Of its creation.
Section S. This ordinance shall be i
full force and effect from and alter It
5 passage and pabiisation.
PASSED February 1, 1909.
{. ]. E. Kerrick,
2 Chairman
; r r Mitchell