Elmore County Republican. [volume] (Mountain Home, Idaho) 1910-1915, 1913-02-15
ORDINANCE NO. 81

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.
TION OF SEWER MAINS AND
BRANCHES AND MANHOLES, AND
FOR ALL OTHER PURPOSES CON,
NECTED WITH THE INSTALLA-
TON AND CONSTRUCTION OF A
lCOMPLETE 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 INTERES 7
ON SUCH BONDS, AS 1T FALLS
DUE, AND TO CREATE AND CON
STITUTE A SINKING FUND FOR
THE PAYMENT OF THE PRINCE
PAL THEREOF WITHIN TWENTY
YEARS FROM THE TIME OF THE
ISSUANCE OF THE SAME AS
THEY BECOME DUE.
BE 1T 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 /, 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 denom'
nations of $500 or $1,000 each, or
both, payable within twenty years
from the date Of the issuance, re-
deemable at the pleasure OF the said
village at any time after ten years,
bearing interest at the rate not to
exceed six per cent per annum, In
terest payable semi-annually, in an
amount in the aggregate not to ex-
coed the sum of Thirty-five Thous.
and dollars ($S5,O00) and to provide
for the levy and collection of an
annual tax upon all the taxable pro-
perty In the Village of Mountain Home
sufficient to pay the interest upon
said bonds as 1t 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, 00O) 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 q site and right OF
way for sewage disposal and other
purposes for the purchase Of mater
ials for said system and improve
ments, and for the construction Of
the same.
Second: Said bonds, II authorized
to be issued by the vote of the quail
flied electors who are taxpayers ol
said village, shall be payable twenty
years from the date OF isue. but shall
be redeemable at the pleasure Of
said village of Mountain Home, al
any time after the expiration of ten
years from the date Of said issu
ance. Said bonds shall bear inter
est at rate not to exceed six per
cent per annum, interest payable
semi-annually, and shall in all re-
spects comply in form and issuance
with the provisions Of sections 2315
Of the Idaho Revised Codes, as amend
ed by the Session Laws of Idaho,
1909 at Page TIA, and as further
amended by chapter 30 Of the SEES
sion Laws Of Idaho for the year OF
1911, and sections 1916 to 1911, in
elusive, Of the Idaho Revised Codes.
Section 2. That In order to pro
vide for the payment of the interest
on said bonds authorized to be issued
at the election herein provided for
and to constitute sinking fund, for
the payment Of the principal thereof,
at maturity, direct tax, in addition
to all other village taxes shall be
levied and collected annually on all
the taxable property within the vii
lage Of Mountain Home sufficient to
meet the interest ON all such bonds
as may be issued, promptly as the
same mature, and also sufficient to
establish and maintain sinking
fund. which shall be sufficient to pay
all bonds called In after the expir-
alton Of ten years and before the ma
turity thereof, and also promptly
meet and pay the same.
Section 3. At least thirty days !
notice Of the time Of holding said
special election Is hereby directed to
be given by publication in the Ell
more County Republican, the official
newspaper of said village of Mounta d