Payette enterprise. (Payette, Canyon Co., Idaho) 1909-1935, 1911-06-29
ORDINANCE NO. 100.
BY Burns.


City Of Psyetts, County Of Canyon
State Of Idaho, for the purpose Of
submitting to the qualified electors
who are tax payers thereof the ques'
ton Of the Issuance Of Municipal Cor
poration Bonds Of the said City in
the total amount OF 100000 for the
following purposes to-wit:s7 10000 for
the purpose Of raising the necessary
funds TO build a bridge across the
Snake River, with the funds donated
by the State Of Idaho: st4ooo.oo to
provide the necessary funds to build
and construct a Municipal Building or
City Hall and Jail.
! BE II ordained by the Mayor and
Council of tbs CIV Of fayette. Ida
ho
Section T. That a special election
Of the qualified electors who are
tax payers thereof. Of the City Of
Payotte. County OF Canyon, State Of
Idaho. shall be held therein on the
18th day of August 1911, for the pur.
pose OF supmlttlpg 20 The said cleo
tors the question OF the issuance by
the said City OF Municipal Coupon
bond In denominations of 800, $500
and $1,000 each, payable Within TWEEN.
~ years from the date OF the tssu,
anco thereof redeematle at the
pleasure Of the said City at any time
after ton years, bearing interest at
rate not to exceed six per centum
per annum, Interest payable semi.an.
nually. In IN amount IN the aggregate
not to exceed the sum of S2l 900. 90
and to provide for the levy and col.
lection OF an annual tax upon all the
taxable property in the said City
sufficient to pay the interest on
said bonds as Il falls due and w
create and constitute sinking fund
for the payment Al any time after
ten years OF the principal OF said
bonds as they become due. for the
following described purposes to-wit:
First Municipal Coupon Bonds to
the amount OF 100000 TO be desig-
mated as Bridge Bonds" for the pur-
pose Of providing the necessary
funds. with the $4,000 donated by
the State OF Idaho, to build and con,
struct steel and concrete bridge
across the Snake River adjacent to
the corporate limits of the City of
Payette. for the purpose Of buying
all materials and paying for all ne
cessary labor. for the construction
OF said bridge.
Second Municipal Coupon Bonds
10 the amount OF Sl4,0O0O0 to he
designated as Municipal Building
Ponds" to provide the funds neces-
sary to pay the cost and expenses Of
buying the material and erecting and
building a municipal building or city
hall and Jail In connection there.
with.
Said bonds or any any Of them If
authorized to be issued by the vote
Of the qualified electors who are
taxpayers OF said City. shall be pay
able twenty years from the date OF
issue, but shall be redeemabie at the
pleasure OF the said City OF Payette
at any time after the expiration of
ten years from date OF said issuance
and each boud shall DO redeemable
in the order In which Il is numbered.
Said bond shall bear interest at q
rate not to exceed six per centum
per annum interest payable semtan.
nually, and shall In all respects com
ply In form and issuance with the
provisions OF Section 1915 OF the Re
yised Codes OF the State OF Idaho. .
as amended by the Session Laws
1909 az Page i1t and 1911. at page
6i and sections 1916 TO 1871
Inclusive OF the Idaho, Revised Codes.
Section p That In order to pro.
eide for the payment OF the interest
on such OF said bonds as are authorize.
I'd to be issued at the election here.
In provided for and TO constitute a
sinking nind for The payment OF the
principal thereof at maturity. a direct
AK, In addition TO all other city
axes, shall be levied aud collected
annually on all OF the taxable prop.
arty Within the city Of Payette suf-
'icient to meet the interest on all
such bonds as may be issued and out
standing from time to time. prompt.
y as the same natures. and also suf-
'icient to establish and maintain a
sinking fund which shall be sufficient
10 pay all bonds called in after the
expiration OF ten years and before
maturity thereof and also TO prompt.
y meet the payment of tho principal
u all bonds outstanding at their
Section 3. At least 80 DAYS notice
~ the time and plate ., holding sa1d