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


State OF Idaho, for the purpose OF
submitting to the qualified electors
who are taxpayers thereof the
question Of the issuance of munic-
ipal coupon bonds Of the said viii
lage, in the total amount of Ten
Thousand Dollars, for the follow
ing purposes, to-wit To provide
the funds necessary to pay of the
outstanding indebtedness OF the
village Of Meridian aud to improve
the streets OF said village, and to.
provide for an annual tax upon all
the taxable property Within the
village Of Meridian, Idaho, suth-
cient to pay the interest on such
bonds, as it falls due, and to Gre
ate and TO constitute a sinking
fund for the payment Of the prin-
cipal thereof within twenty years
from the time OF issuance OF the
same as they become due;
Be ii ordained by the chairman
and board of trustees of the village
Of Meridian
Section /. That special cleo
ton Of the qualified electors who
are taxpayers thereof Of the viii
lage of Meridian, county Of Ada,
state OF Idaho, shall be held there.
in on Tuesday, October II, 1911,
for the purpose Of submitting to
the said electors the question OF
the issuance of, by said village,
municipal coupon bonds in the
denomination OF $1,000 each, pay
able within twenty years from the
date Of the issuance, redeemable at
the pleasure Of said village at any
time after ten years, bearing i'm
terest at a rate not to exceed six
per centum per annum, interest
payable semi-annually, in amount
in the aggregate not to exceed the
sum of ($10000) Ten Thousand
Dollars, and to provide for a levy
and collection Of an annual tax
upon all the taxable property in
the village Of Meridian, sufficient
to pay the interest upon said bonds
az II 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, as they become due, for the
following described purposes, to.
| wit:
| First: Municipal Coupon bonds
to be known as Village Improve
ment Bonds" to the amount of
i ($10,000) Ten Thousand Dollars,
TO provide the funds necessary for
the payment of balance due on
the installation Of the water works
system in the sum Of ($6,000) Six
Thousand Dollars, and ($4,00O)
\ -Four Thousand Dollars for the
purpose of constructing cement
crossings and otherwise improving
the streets Of the village Of Nerd.
| ian.
4 Second Said bonds IL author.
lied TO be issued by the vote of
the qualified electors who are tax.
payers of said village, shall be pay
able twenty years from the date OF
issue, but shall be redeemable al
the pleasure of the said village OF
Meridian at any time after the ex.
piration Of ten years from the date
Of said issuance, said bonds shall
, bear interest at the rate not to ex,
coed six per cent per annum, inter,
est payable semi-annually, and
shall in all respects comply in
Il form and issuance with the provis
{, ions of Section 1916, Of the Idaho
Revised Codes, as amended by the
session laws of Idaho, l909,at page
. ia, and as amended by the session
laws 1911, page SO, and sections
} Nos. 1916 to 1911 inclusive of the
, Idaho Revised Codes.
{ Section 2, That in order to pro
! vide for the payment of the inter,
est on said bonds authorized to be
issued at the election herein pro
vided for and to constitute a sink,
! ing fund, for the payment of tbs
] principal thereof, at maturity, 1
} direct tax, in addition to all othei
j village taxes, shall be levied, ano
J collected annually. on all the tax
) able property within the village Of
!. Meridian, sufficient to meet the in
! terest on all such bonds, as may bs
, issued. promptly as the same
| natures, and also sufficient to es
, tablish and maintain q sufficient
sinking fund which shall be sufR
J cient to pay all bonds called in
after the expiration of ten years
| and before the maturity thereof
aud also to promptly meet and pay
the same.
Section 3. At least 80 days
notice Of the time of holding sale
: special election is hereby directed
L. 4 L..