Payette enterprise. (Payette, Canyon Co., Idaho) 1909-1935, 1911-07-06
ORDINANCE NO. 1893.
BY Burns.

! An ordnance providing for the
holding Of special election In the
City Of payetts, 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
porstlon Bonds Of the said City In
the total amount Of 100000 for the
following purposes to-wit 81, 10000 for
the purpose Of raising the necessary
funds TO build bridge across the
Snake River, with the funds donated
by the State Of Idaho: sf4ooo.oo TO
provide the necessary funds to build
and construct Municipal Building or
City Hall and Jail.
BE II ordained by the Mayor and
Council Of the City Of Payette, Ida
no:
Section l. That a special election
OF the qualified electors who are
tax payers thereof, Of the City Of
Payctte, County Of Canyon. State Of
Idaho, shall be held therein on the
18th day Of August 1911. for the pur-
pose Of submitting to the said cleo
tors the question Of the issuance by
the said City OF Municipal Coupon
bond IN denominations OF 500. $500
and $1,000 each. payable within TWEEN
" years from the date OF the issu.
ance thereof rcdeemable Rt the
pleasure Of the said City at any time
after ton years, bearing interest at
a rate not 10 exceed six per centum
per annum. Interest payable semi-an-
nually. IN 40 amount In the aggregate
not 10 exceed the sum OF $2l 900. 90
and to provide for the levy and col
lection of an annual tax upon all the
taxable property In the said City
gaid bonds as It falls due and to-
create and constitute a sinking fund
for the payment at any time after
ten years OF the principal of said
bonds AZ they become due, for tbs
following described purposes ia-wit,
First. Municipal Coupon Bonds to-
the amount of 100000 TO DO deslg.
mated Az hpPidge Bonds" for the puF,.
pose IT pravttiing TIE necessary
funds. with the $4,000 donated by
the state OF Idaho. to build and con-
struct a steel and concrete bridge
across the Snake River adjacent toI
the corporate limits Of the City of
Payette, for the purpose OF buying
an materials aud paying for all NO
cessary labor. for the constrUctiQN
OF said budge.
Second Municipal Coupon Bonds
to the amount of s14.OOOOO to be
designated as Municipal Building
Bonds" to provide the funds neces-
sary to pay the cost and expenses Of
buying the material and erecting aBd
building q municipal building Nv city
halt aud Jail m correction there
with
Said bonds or any any OF them lfI
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 redeemable 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 9ond shail be rsdeemRble |
In the order IN which II is numbered
Said bond shall bear interest at u
rate not TO exceed six per centum
per annum interest payable semLan-
uually, and shall in all respects com
ply In form and issuance with the
provisions OF Section 1915 OF the Re
vised Codes of the State of Idaho,
as amended by the Session Laws
1893 at Page "a and l9lt at page
So ana sections 2Sl6 10 2a7l |
inclusive OF The Idaho. Revised Codes.
Section ?. That In order to pro
vide for the payment Of the interest
~ SUM W Ntthu hhhNs Is are huNuNith l
I'd to be issued at The election bsre
IN provided for, and 30 constitute
sinking fund for the payment % tha
principal thereof ~ maturity, . direct
AK, IN addition 70 all other city
axes. shall be levied and collected
on all Of the taxable prop
'rty within the city OF Payette suf-
icient TO meet the interest on all
iuch bonds as may be issued and out. !
standing from time to time. prompt !
y as the same natures. and also suf- {
icieut 70 esteblisA aud mgiltain o
linking fund Which shall be sufflcisnf =
o pay all bonds called Tn after the
EXPIRATION OF ten years and before
maturity thereof and also to prompt 4
meet the payment OF the principal
( all bonds outstanding at theiF
Maturity
Section q Al least 20 DAYS notice