Payette enterprise. (Payette, Canyon Co., Idaho) 1909-1935, 1912-01-25

sition of issuing funding bonds to
the extent of s21 900 to cover the cut
standing warrant Indebtedness Of
the city up to January 1st, 1912. A.
II. Boswortha representative of VIM.
e. Sweet & Co., of Denver was pres
ent and presented the following pro-
position to the council which was ac-
cepted and just as soon as legal
tormalities can be had the bonds
will be issued and put up for sale.
Payette, Idaho, January Is, IL.
Hon. Mayor and City Council.
Payette, Idaho.
Gentlemen:
You have informed us that your
city desires to issue twenty-one thou
sand 1921 ,000) dollars, par value, five
and one half per cent funding bonds
dated March 1, 1912, due twenty
yaers after date, optional ten years,
interest payable semi-annually, pr.n-
cipal and interest payable at City
Treasurer's office or at the Chase
National Bank, New York City, at
The option of the holder, said bonds
10 be in denominations of $500 or
81 900 each. In connection with the
bond issue we make the following
proposition:
We agree to furnish you in dupli-
cate, full set of all proceedings and
legal papers required to make these
ponds legal and valid obligations o.
your city. We will also furnish
blank bonds ready for execution by
the city officials. For these servic-
IS you agree to pay us in cash (pro-
viding we are not the purchasers Of
the bonds) the sum of $3.50 said
payment to be due and payable on
date of public sale of bonds. You
also grant us an option to purchase
the bonds at the price of the high
est bona fide bid received by you at
the public sale of the bonds. You
agree to furnish US with complete
copy of all proceedings had in con-
nection with this bond issue, certi-
fled to by the city clerk, and you
agree to take any and all proceedings S
20 make the bonds legal, which
cur attorney may deem necessary,
prior to payment for bonds by US.
The bonds are to be offered at
public sale and, as per your Official
financial statement, we hereby agree
to purchase said issue of bonds
legal in the opinion of our attorney,
at par and accrued interest to date
of the delivery of the bonds to US.
You hereby agree to accept this pro-
position for your bonds unless "a the
public sale you receive a higher and
better bona fide bid in accordance
with the terms of the notice of sale.
In case the bonds are sold TO US
we agree to remit the sum of $3.50
paid us for furnishing legal proceed
ings and blank bonds. If the bonds
are sold to US they are to be de-
livered to us in Denver, at the Col
orado National Bank, as soon as
practicable.
Respectfully Submitted
VIM. E. Sweet & Co.,
BY A. H, Bosworth,
The above proposition ia hereby
accepted by the City of Payette.
H. ]. Brannock, Mayor.
Attest,
NJ. o. Luther, City Clerk.
7 Chairman of the sewer comm ttee
E. w. Equals was present at the
meeting and addressed the council
regarding the sale of the sewer bonds
ror the west side district. VIM. Sweet
& Co, had bid for these bonds with
the understanding that the city
would take the last s25O0 worth. BY
motion. and vote the council agreed
to accept them and the following
resolution was passed and ordered
submitted to Sweet & Co. by the
clerk
Payette, Idaho. January IS, II.
VIM. E. Sweet & Co.,
Denver. Colorado. y
I Gentlemen:
The city council of Payette has
determined to invest certain idle
funds belonging to the city in bonds
of Local Improvement Sewerage Dis
trict No. . Of this city. We agree
to purchase s2EGJ.00 par value of
said bonds and we will accept the
delivery of the five highest number
ed bonds OF the issue in denomina-
tions of $500 each. said bonds TO
mature after other bonds of the is
sue have been paid, redeemed and