The Caldwell tribune. [volume] (Caldwell, Idaho Territory [Idaho]) 1883-1928, 1909-07-17
City Treasurer of the City of Caldwell,


annual interest on its bond number as
above.
city Treasurer of the city of Caldwell,
Section 5. The Mayor and Council
shall give notice in some weekly
n9ewspaper published in said city, in
intention to issue and negotiate said
| bonds and invite bidders therefore.
Such bide must be in terms of cash,
| and must be for not less than par and
accrued interest at the time of delivery
| Of bonds. A certified check payable
to the City of Caldwell, Idaho, equal to
rive per cent of the amount of the bid
| must accompany such bid and If such
| bid is rejected the certified check shall
be returned to the owner thereof; If
| the said bid is accepted the amount OF
said certified check shall be credited on
| the purchase price of the bonds. After
ascertaining the best terms upon and
| the lowest terms at which such bonds
can be negotiated, the Mayor and
| Council shall secure the proper en-
| craving or printing thereof, and shall
| have them consecutively numbered
and otherwise properly prepared and
| executed.
Section 6. When such bonds shall
have been executed as provided in sec
ton five of this ordinance, they shall
each be registered by the City Clerk in
book to be kept for that purpose. In
such register shall be stated the num-
Der, date and amount of each bond, the
time and place of payment. the rate of
interest, the number of coupons at
tached and any other proper iescrip-
for public inspection at suitable hours.
Section Z. Said Mayor and Council
shall from time to time in such
liver said bonds to the City Treasurer
and take and file his RECEIPT therefore.
and charge him with all bonds so de-
der the general supervision of said
Mayor and Council, sell said bonds for
cash, but In no case shall said bonds
value and the accrued interest at the
time of disposal The said City Treas
urer must keep record of all bonds
rate of interest, date and amount OF
sale, and when and where PAYABLE
winch record must be kept open for
flee hours. Said treasurer shall make
detailed statements of all his transact
Sions relating to, said bonds, to the
Mayor and Council of said city, when
ever required by them SO to do
Section 8. There shall be levied ana
assessed and collected annually upon
~ ~ ,5 5aXahie property within the City of
other taxes authorized by law, which
WIN produce a sum sufficient to pay
the interest on said bonds as it be- be-
comes due and also constitute a sink
) ing fund Tor the payment of the prin-
cIpal therefor provided by ordinance
no, 10 o. Such sinking fund shall be
other moneys and funds in the city
treasury, and shall be held and with
i me the income thereof may be safely in
vested by the Mayor and Council of
the city, and shall be used at .he dis
Er- ten of the said Mayor and Council
~ sald city: to redeem said bonds in
Lps1r rIt mrical order. after ten NtPrs
fr"" the date OF issueing SAID / rjs,
ana Tor no other purpose. Such taxes
shall be levied and assessed and COL
iected as other city taxes until the
bonds SO issued shall be fully paid, in
cludlng the interest therefrom; and the
taith, credit and all the taxable prop
erty W1thln the City of Caldwell, shall
be and continue to be pledged, and the
, proper officers of said city shall con-
tinue to assess and collect on all tax
/ able property within said city, such
special taxes and apply them to the
payment of such bonds until the whole
thereof with interest 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 city and
the money so used for the payment OF
such interest must be repaid to the
fund from which 1t was taken, out of
. the first money collected from such
special taxes. Should there be any
surplus of said tax moneys remaining
after the principal of said municipal
, have been fully paid, then such sur
plus shall be paid over to the general
Iunu OF the city OF Caldwell.
Section 9. Be it further ordained
that the City of Caldwell hereby agrees
to and with the persons who are or at
any time may be the holders of such
municipal bonds, or any of the coupons
attached thereto, that 1t will punct-
[ ually pay such municipal bonds and
coupons according to the terms there
] of, and that said city of Caldwell will
] at al times faithfully carry out all the
: provisions of law and this ordinance
} for the benefit of such municipal bonds
and coupons attached, and any and ali
holders thereof including the levying
| and collection of taxes, to pay the in
terest on such municipal bonds and to
I constitute a sinking fund as required
by the constitution and the laws of the
state of Idaho and this ordinance.
Passed the Council this 14th day
of July 1909.
I Approved by the Mayor this 18th day
/ of July, 1909.
]. B. GOwEN, Mayor.
C. ]. SHORE. City Clerk.