The Caldwell tribune. [volume] (Caldwell, Idaho Territory [Idaho]) 1883-1928, 1909-07-24
ORDINANCE NO. 1872.

AN ORDINANCE DECLAUING THE
NECESSITY AND ADELSAlllLITY
OF cALDWELL, Of CoUPON b. M
IN THE SUM OF 3z6.O59..s With
WHICH TO DEFRAY THE Elk
PENSE OF GRADING AND PAVING
THE STREETS AND ALLEYS AT
THE INTERSECTIONS WITHIN 10
CAL IMPROVEMENT DIST siCc No.
/. TO CORRESP0ND WITH Ilk Z
IMPROVEMENTS TO BE MADE AT
THE EXPENSE OF THE PROPERTY
OWNERS AUDITING THE STREETS
AND ALLEYS IN LOCAL IMPROVE
ING THE NUMBER, FORM CON
TENTS, PROVISIONS, PRINCIPAL
AND RATE OF INTEREST, MAN
NER OF MAKING PAYMENTS OF
PRINCIPAL AND INTEREST, PRO
YIDING FOR ANNUAL LEYIES OF
SPECIAL TAXES FOR THE PAY
MENT OF THE INTEREST AND TO
CONSTITUTE "A SINKING FUND
FOR THE PAYMENT OF THE PRIN-
CIPAL THEREOF; PROVIDING FOR
ELECTION, SUBMITTING THE
QUESTION OF THE ISSUANCE OF
BONDS TO A VOTE OF THE Prop
ERTY OWNERS OF THE CITY OF
CALDWELL, AND PROVIDING FOR
THE PUBLICATION OF THE NO
TICE OF SUCH ELECTION, AND RE-
PEALING ORDINANCE NO. l3l,
PASSED AND APPROVED JULY IA.
BE IT ORDAINED BY THE MAYOR
Section i. That the city clerk is
hereby authorized and instructed to
give notice of an election to be held on
the Sth day of September. 1903, as pro-
Yided by law, for the purpose Of voting
upon the issuance Of coupon bonds up
on the credit of the City of Caldwell
for the purpose of grading and paving
that part of the streets and alleys
within Local Improvement District No.
1, as provided in special ordinance No.
2, known as cross streets and intersec
lions, to conform with the other and
like improvements in said district in
that part of the streets and alleys abut-
ting the property owners in Local Inn
proVement District No. /, with Bituli
thtc pavement to the amount of
The voting at such election shall be
by ballot and the ballots used shall
have printed or written thereon sub
stantially as follows.
I'm favor of issuing bonds to the
amount of $26,059.7S, Tor the purpose
stated in ordinance No. 13O, and against
issuing bonds to the amount of $26,159.-
IS for the purpose stated in ordinance
No. 130."
Section 2. If a two-thirds majority of
the votes cast at said election by quail
fled electors who are taxpayers of the
City of Caldwell, shall be cast for
bonds yes, then the City Council shall,
as soon as practicable thereafter, give
notice by advertisement in the Caldwell
Tribune, a newspaper printed weekly in
the City of Caldwell, for a period of not
the City of Caldwell will sell the bonds
voted for paving the certain streets and
alleys heretofore described in ordinance
No. 1870 to the highest and best bidder
for cash at not less than the par value,
and stating the tiIAe when and
place where said sale will take place.
Section 8. That 1t is deemed neces-
sary and advisable by the Mayor and
Council of the City Of Caldwell to grade
and pave the streets and alley intersec-
tions within Local Improvement Dis
O. i
of special ordinance No. 2, passed by
the Council on the 21st day of June,
1903, and approved by the Mayor on the
21st day of June, 1908; and for that pur-
pose to issue coupon bonds by the City
of Caldwell for the purpose of pro-
viding for and paying the expenses of
the construction of said Improvement;
coupon bonds called Paving Bonds,
shall be issued in the sum of S26,O59.7S.
Section 4. That the bonds provided
for in section of this ordinance shall
be u In number and each OF them shall
be for the principal sum of 100000 as
near as practicable; they shall be konwn
as Municipal Paving Coupon Bonds of
the City of Caldwell, Series of 1903, and
one to q inclusive. Each of said bonds
shall bear interest at the rate of per
cent per annum, payable semi-annually
on the first day Of January and the
first day Of July in each year, and both
the principal and the interest shall be
payable at the office of the treasurer
OF the City OF CALDWELL, or at the office
OF the Chase National Bank, in the city
of New York, and state of New York,
at the option Of the holder thereof.
Each Each bond shall al be payable within
suance and shall be redeemable at the
pleasure of the City of Caldwell at any
time after the expiration of ten years
from the date of its issuance and in the
order in which it is numbered.
Section 5. Each of the said bonds
shah have attached to 1t when nego
i-nn Mt
covering the interest expressed in said
bond from the date of its issuance until
paid Each bond shall be signed by the
Mayor of the City of Caldwell and at
tested by the clerk of the City of Cald-
well, and signed by the treasurer of
the city of Caldwell and bear the cor
porate seal of the City of Caldwell. The
interest coupons attached thereto shall
be signed by the treasurer, shall be
numbered to correspond with the num-
Der Of the bond to which 1t is attached
and each bond shall state upon its face
the amount for which it was issued,
the dates Of its issuance, and shall be
(the purchaser thereof. or bearer), and
shall recite that 1t was issued in con-
formity with the provisions of chapter
v, title IS. of the Political Code of the
Section 6. For the payment of the
interest on said bonds as the same shall
fall due, a special tax, in addition to
other general and special taxes, levied
by the City of Caldwell 10 Y mills on
the dollar, shall be levied annually by
the City of Caldwell upon all of the
property within the City of Caldwell
taxable according to the laws of the
state of Idaho.
Section Z. For constituting a sink
ing fund for the payment of the prin-
cipal of said bonds within twenty years
from the time Of issuance, a special
tax, in addition to the other general
and special taxs levied by the City of
Caldwell of 10 mills on the dollar.
shall be levied annually blythe City Of
Caldwell, on all the property within the
City of Caldwell, taxable according to
the laws of the state of Idaho. That
ordinance No. 131 passed and approved
July II, 1909, is hereby repealed.
Passed by the Council this 18th day
of July, 1909.
Approved by the Mayor this 10Th day
of July, 1909.
J. B. GOWEN, Mayor
Attest:
C. J. SHORE, Clerk.