Elmore County Republican. [volume] (Mountain Home, Idaho) 1910-1915, 1911-05-06
BOND ELECTION
HELD ILLEGAL
Attorneys for Bonding Company
Question Legality of Election.
Will be tested in SUI
preme Court

AT the last meeting OF the Village
3oa1d of Trustees, on Monday night.
Mr.. +. H. Bosworth, was present, re-
| presenting the firm of William L.
Sweet & Co. of Denver, whose bid
was accepted ON April II for the
| 900 issue of water works six per
| cent municipal bonds He reported
| that the attorneys for his house had
| handed down am opinion that. by
| reason OF certain techniealities, the
| election at which the bond issue was
| authorized, was not legal under The
Interpretation of the Idaho Statut s.
As a result of this opinion of them
| Legal advisor, Mr.. Bosworth said that
Sweet & Co. could not take the issue
I'm Its present status. AS an evidence
OF their good faith, however, and
their desire to secure the issue, he
agreed for his house. to have all Of
the proceedings, ordinances, resolu-
tioms, etc, required for a new electio
drawn upin form satisfactory to their
attorneys and have these presented to
the Board for action next Monday
night without expense to the town. re-
questing that the Board enter into
an agreement to deliver the bonds to
them at THE same price already COW
cred by their present bid, lin case the
new election carried The Board post
poned action and called a special
meeting for next Monday night at
which time the matter will be gone
into thoroughly.
In am interview with Mr.. Edmund
M. Blake OF Boise, Engineer for the
Town, who lis in Mountain Home to-
day, he said.
THE most careful attention was
given TO every detail OF the resolu-
tions, ordinances, election proclama-
tom, call for election, notice of sale
of bonds, and all other proceedings
OF the Board of Trustees relating to
the issue of $4,000 of water works
bonds. The legal phases were given
particular attention In their bearing
upon the meaning and intent OF the
Statutes. The phraseology through
out all of the proceedings b5 ideni-
cal Nh word and form with those pas
sed by the Board OF Trustees of the
Village of Meridian in 1910 which
were accepted by the law firm of
SqudTes, Sanders and Dempser, of
Cleveland, attorneys of the highest
standing dun the State of Ohio, acting
for the Banking and Bonding House
OF Otis and Hough who bought the
500, 900 Meridian issue upon their adj
wise that every detail was legal and
In accordance with the Statutes OF
the State of Idaho. Otis and Hough
are among the highest and most
bonding and banking
houses dn the United States and it
seems reasonable to suppose that any
issues whose legality was passed up
ON favorably by their attorneys
should be satisfactory to other hous-
IS dealing In municipal bonds.
Il do not like the action OF Sweet
and Company and have advised the
Board to institute at once friendly
suit in the Supreme Court Of Idaho
o determine once and for all the le-
,allty of this issue. OF course, 1t is
possible that our court of last resort
nay take a different stand from the
Cleveland attorneys but / do not be-
ieve this will be the case. Chief
Justice Sullivan assured me ON We'd
lesday that an opinion could be hand
I'd down by the Supreme Court with
n S or 6 days. AS time is Of the
Utmost importance in this matter, !
,elieve this lis the right course OF
.cton to pursue and have so advised
he Beard
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M Ghosts Haunt Swan1ps?