The Caldwell tribune. [volume] (Caldwell, Idaho Territory [Idaho]) 1883-1928, 1910-01-14

| qudCe wafer supply ana the lnhaDl-
tants thereof lack the convenience de-
rived from sufficient supply, the
said portion of said city is in constant
risk of the ravages of fire, the sewer
system now being constructed is with
out supply of water for the flush
| ing of the same, and
| Whereas, the common council of the
City of Caldwell Idaho, deem it nee
essary and advisable to issue and sell
coupon bonds of said city for the sum
of $50,000.00, sum within the stat
utory limitations upon such indebted
ness for the purpose of constructing
and maintaining such additional water
works and supplying the same with
water, and,
Whereas, the authority to issue such
bonds has been provided by the laws
of the State of Idaho, to-wit: Chap
ter II, Title 10, Political Code, Idaho,
Revised Codes.
BE IT ORDAINED BY THE MAY
OR OF THE CITY OF CALD-
WELL:
Section l. That there shall be is
sued by the City of Caldwell, Idaho,
municipal coupon bonds to the sum
of $5O,00000 to bear interest at the
rate to be issued for the purpose, and
to pc paid by means of sinking fund
to be created as hereinafter to be pro-
scribed; provided that two-thirds of
the qualified electors of said city who
are taxpayers, voting at a special
election held as herein provided, shall
assent to the issuing of said bonds.
Section 2. Said bonds shall be is
sued in denomination of one thousand
dollars each, as near as practicable,
numbered consecutively, and shall
bear interest at the rate of five per
cent per annum, payable semi-annual-
ly, on the first day of January and
July of each year, evidenced by inter
fest coupons attached to such bonds,
both principal and interest to be made
payable in United States gold coin,
of the holder of any such bonds, at
the office of the City Treasurer of the
City of Caldwell, Idaho, or at the
Chase National Bank of New York,
in the City and State of New York
which bank is designated for such
purposes. The principal of said
bonds shall be payable as above pro-
vided, twenty years after date thereof,
but may be redeemed at the pleasure
the City of Caldwell at any time after
the expiration of ten years from date
of the issuing thereof, and every
such bond must be redeemed in the
order it is numbered.
: Section 3. That said bonds shall be
issued for the following purposes: To
provide for the construction and main
tenance of additional water works of
said City of Caldwell and supplying
the same with water.
Section 4. There shall be levied
and assessed and collected annually
upon the taxable property of the said
City of Caldwell, special taxes in addi-
ton to other taxes authorized by law
which will produce sum sufficient to
pay the interest on such bonds each
year as it becomes due, and also suffi-
cient to produce the sum of $350O.OO
per year on and after the year 1915
until such bonds shall be paid, which
shall constitute sinking fund for the
payment of the same. Such sinking
: fund shall be kept separate and dis
. tinct from all other moneys in the
city treasury and shall be held that
the income thereof may be safely in
vested by tho mayor and council of
e said city, and shall be used at the dis
| erection OF said mayor and council to
> redeem said bonds in their numerical
order after ten years from the date of
purpose. Such taxes shall be levied,
purpose. Such taxes shall be levied,
3 assessed and collected as other city
d taxes until the bonds so issued shall
a be fully paid. including the interest
thereon; and the faith, credit and all
the taxable property Of the said City
j of Caldwell and within the limits
n thereof shall be and continue to be
pledged, and the proper officers of said
city shall continue to assess and col
. lect on all the taxable property with
in the limits of said city, such special
e taxes and apply them to the payment
of such bonds until the whole thereof,
with the interest, shall be paid.
Should the taxes for the payment of
the interest on any such bonds at any
Il time not be levied or collected in time
n 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
4, from from which it was taken, out of
the first money collected from such
II special taxes.
II Section 5. A special election shall
'e be held in the said City of Caldwell
on the 21st day of February, 1910
lie for the purpose of voting on the ques.
ton of issuing such bonds, at which
election the polls shall open and re-
main open for the same length OF
IL time as other elections, and The cleo,
ton shall be conducted in the same
= manner as other city elections. Al
: such election none but qualified elec
&c tors who are taxpayers shall be emit
lie tied to vote.
TT Section 6. The City Clerk is here
ID by directed to give at least thirty day:
notice of tho election, provided for il
Section five of this ordinance in Tn,
Caldwell Tribune, a newspaper pub
E, lished in and in general circulation il
said city, which is hereby designated
-. for such purposes.
az SECTION Z. The voting at such cleo