Elmore County Republican. [volume] (Mountain Home, Idaho) 1910-1915, 1913-03-08
ORDINANCE NO. 1s1


AN ORDINANCE PROVIDING FOR
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 COMPILE 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-
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
YEARS FROM THE TIME OF THE
ISSUANCE OF THE SAME AS
THEY BECOME DUE.
BE IT ORDAINED BY THE
CHAIRMAN AND THE BOARD OF
TRUSTEES OF THE VILLAGE OF
MOUNTAIN HOME, IDAHO:
Section l. That a election OF the
qualified electors who are tax pay
ers Of the Village of Mountain Home,
county of Gilmore, state Of Idaho,
shall be held therein on Tuesday,
April l, 1918, for the purpose of SUBJ
hitting to the said electors the ques-
ton of the issuance Dy said Village
Of municipal coupon bonds in denom-
nations of $500 or $1,000 each, or
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
exceed six per cent per annum, in
terest payable semi-annually, in an
amount in the aggregate not to ex-
coed the sum Of Thirty-five Thous-
and dollars ($35,O00) and to provide
| for the levy and collection of an
annual tax upon all the taxable pro-
perty in the Village Of Mountain HON
sufficient to pay the interest upon
said bonds as it 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 "Sewer Bonds" to the
amount of Thirty-five thousand dol
lars ($35, O00) to provide the funds
necessary to pay the costs and ex-
penses of the laying, constructing,
equipment and maintenance Of a com
plete system of sewers and drains
for the Village of Mountain Home,
and to purchase a site and right OF
way for a sewage disposal and other
purposes for the purchase of mater
ials for said system and improve
ments, and for the construction OF
the same.
Il Second: Said bonds, If authorized,
to be issued by the vote Of the quail
flied electors who are taxpayers OF
said village, shall be payable twenty
years from the date Of isue, but shall
be redeemable at the pleasure OIL
said village Of Mountain Home, at
any time after the expiration OF ten
years from the date OF said issu'
ance. Said bonds shall bear inter
est at a rate not to exceed six pei
cent per annum, interest payable
semi-annually, and shall in all re-
spects comply in form and issuance
with the provisions of sections 2Slt
of the Idaho Revised Codes, as amend
ed by the Session Laws OF Idaho
1909 at Page ia, and as further
amended by chapter 30 Of the SEES
sion Laws of Idaho for the year OF
1911. and sections 1916 to 2371, in
elusive, Of the Idaho Revised Codes.
Section 2. That in order to pro
vide for the payment Of the interes.
on said bonds authorized to be issued
at the election herein provided iol
and to constitute sinking fund, FOL
the payment of the principal Thereon
at maturity, q direct tax, In addltlon