The Meridian times. (Meridian, Idaho) 1909-1938, 1911-12-01
ORDINANCE NO. ~.

An Ordinance authorizing the issu
ance of bonds in the sum of ten
thousand dollars tS10000l for the
purpose of paying off outstanding,
Indebtedness of the Village of Mer-
idian and improvement Of streets
within the Village of Meridian, and
providing for the levy and collection
of tax to pay the interest and Gre
ate sinking fund for the redemp-
ton of said bonds in accordance
with the provisions of Ordinance No.
", and the vote of the electors,
and also fixing and adopting the
form of bond to be used for said is
sue Of Municipal Coupon Bonds.
BE it ordained by the chairman and
board Of trustees of the Village of
Meridian, Idaho.
Whereas, at an election held for the
purpose on Tuesday, October II, 1911,
two-thirds majority of the qualified
voters who are property taxpayers Of
the Village OF Meridian, Ada county,
Idaho, voting at said election sus-
tanned the proposition hereinafter des-
cribed, by vote of thirty-eight for
the issuance cf'said bonds to vote of
four against the issuance of said
bonds, II 10 therefore ordained.
sRorIoN /. That there shall be is
sued by the Village of Meridian, Idaho,
the bonds of said village, to be called
Village Improvement Bonds" for the
purpose of borrowing money upon the
credit Of said village, such money to
be used in paying off outstanding in
dsbtednesA of the Village Of Meridian
and Improvement of streets in said
village.
SRc. 2. Said bonds shall be num-
bered consecutively from ~ to (1o), in
elusive, and shall be of the deuomina-
ton of one thousand dollars ($1,0oo)
each, aggregating the sum of ten
thousand dollars ls1o, and shah
by payable in lawful money of the
United States of America.
| SEo. 3. Said bonds shall be dated
the first day of October, 1911, and
shall become due aud payable twenty
years from date, but the right is ex-
pressly reserved by the Village of Me
ridian to redeem said bonds or any
number thereof at any time after ten
year from their date.
4
SRc. 4. Said bonds shall bear inter.
est from their date, at the rate of six
per cent, per annum, the interest pay
able sem-annually, on the first day of
January and the first day of July of
each year, according TO the term of
the interest coupons thereto attached.
Sac. 8. Principal and interest of
said bonds shall be payable on pre-
sentRtion of said bond or proper cou-
pom, at the Office Of the village treas
urer Of the Village of Meridian, or at
the Sesboard National Bank OF New
York, at the optioa of the holder.
sEc, 8. Said bonds shall be signed
by the chairman, and countersigned
by the clerk, and registered by the
village treasurer, and the seal of the
Village of Meridian shall be impressed
ppon each one of them.
| SIC, 7. The facsimile signatures
of the chairman and village clerk shall
be Autographed or printed on the eou-
pons,
SKc. 8. II 10 further ordained by
the village board of trustees, that to
| pay the interest on said bonds aud to
create sinking fund sufficient to dis
charge them at maturity. tax of fifty
cents lsocl on each one hundred
dollars valuation of all taxable prop
erty in said Village of Meridian shall
be levied annually on said property
and annually assessed and collected
until said bonds and interest are paid
and fifty cents tsoc1 on the one hun
dred dollars is hereby appropriated and
set aside to pay the interest and create
sinking fund necessary for the cur
rent year and shall be so assessed and
collected and so applied, and said tax,
or so much thereof as may be nsces-
sary, is hereby levied for each year