The Kendrick gazette. [volume] (Kendrick, Idaho) 1892-1968, 1910-06-10
Ordinance No. III.

election, for the purpose of bonding the
Village Of kendrick, Latah County,
pose of acquiring, building, erecting,
constructing, improving, and maintain
ing a system of water works, for public
and private use of the inhabitants of
said Village and supplying the same
with water.
BE 1T ORDAINED by the Chairman and
Board of Trustees of the Village of Ken
drlck, Latah County, State of Idaho:
Section1 1. That on the 18th day of July,
A. ID. 1910, between the hours of nine
O'Clock A. NJ. and the hour of seven o'clock
p. IN. of said day, at the Village Hall in
said Village of Kendrick, Latah County,
State of Idaho, there shall be held in and
for the Village of Kendrick, Latah County,
State of Idaho, an election by the qualified
voters of the said Village, for the purpose
of empowering the Chairman and Board of
Trustees of the saidvillage TO issue Bonds,
for and on behalf of said Village to the
amount of $4,000, due and payable within
twenty years from the date of issuance.
| Said bonds to bear interest at rate not to
exceed six per cent, per annum, to be paid
on the first day of January and the first
day of July of each year, and that the said
bonds be issued for the purpose of acquir-
! ing, building, erecting, constructing, I'M
proving, ard maintaining system OF
water works, for public and private use of
| tne lnnaDlIdnIS Oh Une Sult NllldBc vi hcu-
drck, Latah County, State of Idaho, and
supplying the same with water.
Section 2. That in order to provide fund
to pay the interest on the said bonds of the
said Village of Kendrick, Latah County,
State of Idaho, mentioned in section one of
this ordinance as the same falls due, and
also to constitute sinking fund for the
payment of the principal of said bonds
within twenty years from date of issuance,
ed annually, upon all the taxable proper
ty within the said Village of Kendrick,
Latah County, State of Idaho, lin addition
to all authorized taxes now being collected)
a special tax each year producing a sum
sufficient to pay the interest on said NUM-
cipal bonds in that year and also the sum
of $500 yearly for period OF Twenty years
from the date of the issuance of said bonds,
and that the same shall constitute a sink
ing fund for the payment of the said inter-
est and principal of such municipal bonds,
said fund to be separate and distinct from
all other funds or moneys, and to be held
and kept as fund out of which to pay the
interest and principal of such municipal
bonds, it being the Intention and purpose
hereof to make full and adequate provision
for the collection of an annual tax sutti-
cient to pay the interest ON said municipal
bonds as the same may fall due and also to
!. create sinking fund for the payment of
the said principal bonds rs the same shall
fall due and that such special tax shall be
levied, assessed and collected as other
taxes are, and in addition thereto the faith
and credit of all the taxable property
County, State of Idaho, shall continue
pledged and that the proper officers of the
said Village shall continue to assess and
collect such special taxes and shall apply
the same to the said fund for the purpose
of paying the said interest and principal
! | ho nhpua dasorihad hpnHs until %
same is fully paid.
Section g. Said bonds shall be known as
municipal coupon bonds of Kendrck.
Latah County, State of Idaho. and shall
be issued as near as practicable in denom-
nations of one thousand dollars each, but
bonds of the denomination of five hundred
or one hundred dollars may be issued
when necessary, and each bond shall be
} made payable within twenty years from
the date of its issuance at the Office of the
Village Treasurer Of the said Village of
! Kendrick, or at any banking house or
: trust company in any city IN the United
States of America, as may be designated
I by the Chairman and board of Trustees OF
!, the said Village of Kendrick, Idaho, at
the option of the holder of said bonds
;. The bonds shall be redeemable rat the
pleasure of the said Village of Kendrick at
any time after ten years.
Section 4. The Chairman and Board OF
. Trustees of the Village of Kendrick, Lataf
). County, State of Idaho, shall cause to be
= published for thirty days in the Kendricl
Gazette, weekly newspaper published
t within the said Village of ,Kendrick, Latat
y County State of Idaho, notice of the
election provided for in this ordinance
= said notice shall state the purpose OF sale
4 election and shall designate the time anC
place where and when the said election
a shall be held, the time the polls will oper
!. and close.
Section 5. All voters must be lega
within the city limits. The ballots to b.
used shall be substantially in the following
=. form:
}, "In favor of issuing bonds to the amour
- of $4,000 for the purpose stated in Ordin
It snce No. 1l7' and
10 against issuing bonds to the amour
:, of $1,000 for the purpose stated in Ordin
" ance No. H."
D Section 8. That each inhabitant of tn
Is Village OF Kendrick, Latah County. Stat
;, of Idaho, who is a qualified electOr of sal
% Village of Kendrick and taxpayer in sal
10 Village of kendrick shall be entitled I
cast one vote at said election, provided fU
in said ordinance.
Section Z. That il at said election two
thirds of the qualified electors who ar
n tax payers in the Village of Kendrici
>. Latah County, State of Idaho, voting q
% such election, assent to the issuing of sue
r, bonds as are provided in this ordinano
~ and the incurring of the indebtedness
- thereby created, for the purpose aforesaid
Id such bonds for said purpose shall be issue
=, by the Village of Kendrick Latah COUNTY
~ State of Idaho, in the manner provided b
lg Law.
" Section 8. All ordinances and parts {
- ordinances now in conflict with this ord
nance are hereby repealed.
Section 9. This ordinance shall be in fu
force and effect from and after its passag
approyal and publication.