Elmore County Republican. [volume] (Mountain Home, Idaho) 1910-1915, 1913-03-01
ORDINANCE NO. 81

THE HOLDING OF A ELECTION
IN THE VILLAGE OF MOUNTAIN
HOME. COUNTY OF ELMORE,
STATE OF IDAHO, FOR THE PUR-
POSE OF SUBMITTING TO THE
QUALIFIED ELECTORS WHO ARE
TAX PAYERS THEREOF THE
QUESTION OF THE ISSUANCE OF
MUNICIPAL COUPON BONDS OF
SAID VILLAGE, IN THE TOTAL
AMOUNT OF THIRTY-FIVE THOUS
AND DOLLARS, FOR THE PUR-
POSE, TO-WIT:
TO PROVIDE THE FUNDS NE
CESSARY TO PAY THE COSTS OF
THE LAYING, CONSTRUCTING,
EQUIPMENT AND MAINTENANCE
OF A COMPLETE SYSTEM OF
SEWERS AND DRAINS FOR THE
SAID VILLAGE OF MOUNTAIN
HOME, AND FOR PURCHASING A
SITE AND RIGHT OF WAY FOR
SEWAGE DISPOSAL AND OTHER
PURPOSES AND THE INSTALLA
TON OF SEWER MAINS AND
BRANCHES AND MANHOLES, AND
FOR ALL OTHER PURPOSES CON.
NECTED WITH THE INSTALLA
TON AND CONSTRUCTION OF A
COMPLETE AND ADEQUATE SEW
Err AND DRAINAGE SYSTEM FOR
THE SAID VILLAGE OF MOUNT
AIN HOME; AND TO PROVIDE FOR
| THE COLLECTION OF AN ANNUAL
TAX UPON ALL TAXABLE PRO
| PERTY WITHIN THE VILLAGE OF
\ MOUNTAIN HOME, IDAHO, SUFFI-
Il GENT TO PAY THE INTEREST
ON SUCH BONDS, AS 1T FALLS
DUE, AND TO CREATE AND CON-
STITUTE A SINKING FUND FOR
THE PAYMENT OF THE PRINCI-
/ PAL THEREOF WITHIN TWENTY
i YEARS FROM THE TIME OF THE
Il THEY BECOME DUE
BE 1T ORDAINED BY THE
i CHAIRMAN AND THE BOARD OF
Il TRUSTEES OF THE VILLAGE OF
/ MOUNTAIN HOME, IDAHO:
Il Section /. That a election OF the
Il qualified electors who are tax pay
/ ers of the Village of Mountain Home,
Il county Of Gilmore, state OF Idaho,
i shall be held therein on Tuesday,
N April 1, 1918, for the purpose OF sub
| hitting to the said electors the ques.
ton of the issuance by said Village
! of municipal coupon bonds in demon
! nations of $500 or $1,000 each, or
Il both, payable within twenty years
| from the date of the issuance, re-
deemable at the pleasure OF the said
village at any time after ten years
bearing interest at the rate not to
II exceed six per cent per annum, In
Il terest payable semi-annually, in an
Il amount in the aggregate not to ex
coed the sum of Thirty-five Thous
n and dollars 1885, 0O0) and to provide
/ for the levy and collection OF al
II annual tax upon all the taxable pro
III perty in the Village of Mountain HON
N sufficient to pay the interest upor
III said bonds as it falls due and u
create and constitute sinking fune
III for the payment at any time aftel
ten years of the principal OF sale
III bonds, as they become due, Tor the
II following described purposes to-Wlt:
III First: Municipal Coupon bonds tt
be known as Sewer Bonds to the
\! amount of Thirty-five thousand dol
Il lars ($35, OOO) to provide the funds
II necessary to pay the costs and eA
III penses of the laying, constructing
II equipment and maintenance OF com
plete system of sewers and drains
for the Village of Mountain Home
and to purchase q site and right O
II way for sewage disposal and othel
II purposes for the purchase OF mater
ials for said system and improve
ments, and for the construction 0
the same
II Second Said bonds, If authorized
II to be issued by the vote of the qual
II flied electors who are taxpayers
said village, shall be payable twent.
III years from the date of isue, but shal
be redeemable at the pleasure Q
III said village of Mountain Home, a
II any time after the expiration OF te
III wears from the date OF said lsst
III ance. Said bonds shall bear intel
II est at a rate not to exceed SIX pc
III cent per annum, interest payaDi
Ill semi-annually, and shall in all r.
iii spects comply in form and issuanc
LII with the provisions OF sections zol
il of the Idaho Revised Codes, as amen
I'LL ed by the Session Laws OF ldah'
III 1909 at Page TIA, and as turtle
II amended by chapter 30 of the Sc
sion Laws of Idaho for the year
1911, and sections 1916 to 237l, Il
elusive, Of the Idaho Revised Codes
Section 2. That in order to pr
vide for the payment OF the intere'
on said bonds authorized to be Issue
iii at the election herein provided II
and to constitute a sinking fund, II
the payment of the principal thereo
at maturity, a direct tax, In additle
II to all other village taxes shall
iii levied and collected annually on
II the taxable property within the v
III lage Of Mountain Home sufficient
LII! meet the interest on all such bon'
III as may be issued, promptly as Il
Ill same mature, and also sufficient
Ill establish and maintain sinkil
fund, which shall be sufficient to p'
all bonds called in after the exp
|III' alton of ten years and before the m
I'LL turity thereof, and also prompt
iii meet and pay the same.
Section 3. At least thirty day
Ill notice OF the time Of holding ga
Hi special election is hereby directed
iii be given by publication in the
II more County Republican, the offlc
iii newspaper of said village OF Mounts
iii Home, Idaho, and said election sh
be conducted in accordance with
IIII Ordinances of said Village and |