The Kendrick gazette. [volume] (Kendrick, Idaho) 1892-1968, 1910-06-03
Ordinance No. ~

election, for the purpose OF bonding the
Village of Kendrick, Latah County,
State of Idaho, and for the further pur-
pose of acquiring, nuilding, erecting,
Constructing, improving. and maintain
ing 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
drick, Latah County, State of Idaho:
Section l. That on the 18th day of July,
A. y. 1910 between the hours of nine
O'Clock A. M. and the hour of seven O'Clock
p. m. 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 a 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, and maintaining system of
water works, for public and private use of
the inhabitants of the said Village of Ken
drick, Latah County, State of Idaho, and
supplying the same with water.
Section q 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,
there shall be levied assessed, and collect
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)
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 suffi-
cient to pay the interest on said municipal
bonds as the same may fall due and also to
create a sinking fund for the payment of
the said principal bonds as the same shall
fall due and that such special tax shall be
taxes are, and in addition thereto the faith
and credit of all the taxable property
within the Village of Kendrick, Latah
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
ofpaying the said interest and principal
on the above described bonds until the
same is fully paid.
Section 8. Said bonds shall be known as
municipal coupon bonds of Kendrick,
Latah County, State of Idaho. and shall
be issued as near as practicable in demon.
nations of one thousand dollars each, but
bonds of the denomination of five hundred
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 OF
trust com pany in any city IN the United
by the Chairman and board of Trustees OF
the said Village of Kendrick, Idaho, Al
the option of the holder of said bonds
The bonds shall be. redeemable at tn,
pleasure of the said Village of Kendrick a
any time after ten years.
Section A. The Chairman and Board O
Trustees of the Village of Kendrick, Latal
County, State of Idaho, shall cause to b,
published for thirty days in the Kendricl
within the said Village Of .Kendrick, Latal
County, State of Idaho. notice of tn,
election provided for in this ordinance
said notice shall state the purpose of sale
election and shall designate the time ant
place where and when the said election
shall be held, the time the polls will opel
and close.
SECTION 5. All voters must be lega
qnainea electors, tax payers, and reside
Used shall be substantially in the followin,
form: = : I" -'
I'm favor OF issuing bonds to the amour
OF $4,000 for the purpose stated in Ordin
ance No. III" and 47k= = :
Against issuing bonds to the amour
OF $1,000 for the purpose stated in Ordin
-sance No. H." - = EES
Section 6. That each inhabitant of tn,
Village OF Kendrick, Latah County. Stat,
= OF Idaho, who is qualified elector of sale
village OF kendrick and a taxpayer in sale
Village of kendrick shall be entitled t.
in said ordinance.
Section Z. That if at said election two
thirds of the qualified electors who are
Tax payers in the Village of Kendrick
Latah County. State of Idaho, voting a,
such election, assent to the issuing of such
bonds us are provided in this ordinance
and the mourning of the indebtedness
thereby created, for the purpose Aforesaid,
such bonds for said purpose shall be issued
by the Village of Kendrick, Latah County,
State of Idaho, in the manner provided by
Law.
Section s. All ordinances and psrts OF
ordinances now in conflict with this ordi.
nance are hereby repealed.
Section 9. This ordinance shall be in full
force and effect from and after its passage
approval and publication.
Passed and approved: ~rs-t s.--
DANIEL T. A. MACINTOSH,
Attest: 49, ,fA ILL., SChairman
GEORGE w. HANCOCK, Clerk. - s'
Read First time, J1ne list, 1910. Az -
r. al Second time, June LIST, 1910.
Read Third time. June LIST, 1910.
Published June !, I910 l'sa ssa 's ,sas