The Caldwell tribune. [volume] (Caldwell, Idaho Territory [Idaho]) 1883-1928, 1910-05-27

National Bank OF New York, in the City
and State of New Work, place OF payment for
scmi-annual interest on its bond number as
above.
City Treasurer of the City of Caldwell. Idaho
Section 5. The Mayor and Council shall
give notice in SOME weekly newspaper pub
hehed in said city, in four consecutive issues
thereof OF its intention to issue aud negotiate
sad bonds. and invite bidders therefor. Said
bids must hr IN terms ct cash, and must be
Tor not less than par and accrued interest at
the time OF IT," ur.Ivcry of thcbondS. \
check, certified by some hani, in the City ct
Caldwell, Idaho, and payable to the City OF
Caldwell, luahu, equal to five per cent of the
amount OF the bid must accompany such
bid and il such bid is rejected the certified
check shall be returned to the owner thereof
After asCertaining the best terms upon which
and the best terms at which said bonds can
he negotiated the Mayor and Council shall
the proper engraving and printing
thereof and shall have them consccutivey
numbered, and otherwise prosperity prepared
and executed.
Section O. When such bonds shall have been
c>ecutcd as provided in Section of this
ordinance, they shall each be registered by
tho City Clerk in book to be kept for that
purpose. In such register shall be stated the
number, date, and amount of each bond, the
time and place of payment, the rate OF in.
tcreSt. the number OF coupons attached and
any other proper description thereof. Such
register shall be for the public inspection at
suitable hours.
Section T. Said Mayor and Council shall
from time to time in such amounts as they
deem best, deliver said bonds to the City
Treasurer and take his receipt therefore, and
charge him with all bonds so delivered. The
City Treasurer shall under the general super
vision OF the Mayor and Council, sell said
bonds Tor cash, but in no case shall said bonds
be sold for less than their face par value
and accrued interest at the time 81 disposal.
The City Treasurer must keep record OF all
the bonds disposed Of showing their number,
rate OF interest, date and amount OF sale,
when and where payaLe which record must
be kept open for inspection at all reasonable
r0Fcc hours. Said treasurer shall make de
tailed statements OF all his TRANSACTIONS re
lating to said bonds. to the Mayor and Coun-
Gil 81 said City, whenever required by them
so to do.
Section g. There shall be levied and as
,esscd and collected annually upon all taxtblc
property within the City Of CALDWELL special
tax in addition to other taxes authorized by
law which will produce sum suncicnt to
NY the interest sal, -onds as il becomes
u, IN also constitute . sinking fund for
| the 1vmcnt of the principal Such SINKING
| fund hll be kept sep9rat" and diNtnct from
| III other moneys and funds in the City
rrcastry and shall be held and with the in
| rome thereof may be safely invested by the
| Mavo. and Council of said City and shall be
used at the discretion OF the Mayor and
| Council of said City. to redeem said bonds
| in their numerical order after ten years
from the date of issuing said bonds, and for
|
| and collected as other taxes are levied as
sessed and collected until the bonds so is
sued shall be fully paid, including the inter
est therefrom; and the faith credit and all
the taxable property of the City of Caldwell,
| shall be and continue to be pledged, and the
proper officers of said city shall continue to
assess and collect all the taxable 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 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 used for the payment OF such
| int rest must be repaid to the fund from
which il was taken, out OF the first money
collected from such special taxes Should
there be any surplus OF said tax moneys
sitter the principal Of. said municipal bonds
and all the interest thereon have been fully
paid. then such surplus shall be paid over
to the City Of Caldwell -,
Section o Be it further ordained that the
CITY of Caldwell hereby agrees to and with tlp
persons who or at any time may be the
holders of such municipal bonds. or any OF
the coupons attached thereto, that It will
Dunctually pay such municipal bonds and
coupons according to the terms thereof, and
that said City of Caldwell will at all times
faithfully carry out all the provisions OF Law
and this ordinance for the beneht OF Suc5
n7unicipal Donds and the coupons attached
and any and all holders ereof including
the levying and collection OF taxes to pay
the interest such municipal bonds an'
to constitute a sinking fund required b!
the constitution and the laws of the STAT
Of Idaho and this ordinance.
Section H. That Ordinance No: la5 passe'
and approved on the 18th day of Iune, 1900
and nance No. 100, passed on the IAtl
dav of July, 1900, and approved on the Istt
lav of July 1909, are hereby expressly re
Passed and approved this 23d day of May
1910
r. GOWEN
Mayor of the City OF Caldwell, Idaho
Attest
c. ]. SHORE,
Clerk of the City of Caldwell Idaho