Payette enterprise. (Payette, Canyon Co., Idaho) 1909-1935, 1914-05-14
z ..l.s.Q-l l.o. z5I BY eorham.

-
Il TIE oRM Of $4,000, OF BOND
e OF The CITY Or PAYETTE, TT
n BE DENO&lNAT I'D REFUNDIN(
{ bONBS; Ard -ROVIDING FOT
THE LEVY -O7 A TAX TO PAY
TIE SAND BOTH PRINCIPAL
4 AND INTEREST.
WHEREAS, there are now out.
standing and unpaid, a certain Sc
rjes of the legal and valid municipal
water works u per. cent coupon
bonds of the City of Payette, Can
yon County, Idaho. series of 1904,
in the aggregate principal amount of
twenty thousand dollars ($20,000)
each of said bonds being in the de-
nomination of five hundred dollars
($500.00), dated July LIST, 1904, due
absolutely July LIST, 1924, but redeem
able at the option of the said city
of Payette at any time after the ex-
piration of ten years from the date
! of their issuance, and bearing inter-
est at the rate of five and one half
per centum (514 per cent? per an
mum, payable emi-annualy ON the
first days of July and January of
each year; and
WHEREAS, all of said bonds will
become redeemable at the option of
the said City of Payette ON and aft
er July LIST, 1914, and there are no
funds in the treasury of said city, APP
plicable to the payment of the prin-
cipal of said bonds; and,
WHEREAS, under the laws of the
State of Idaho, now in force, said
bonds, and each thereof, may be re-
funded, and the time for the pay
ment of the principal amount there
of, thereby extended; and
WHEREAS, the issuance of said
bonds was duly authorized, as pro-
vided by law, and said bonds were
sold for value and the purchase price
thereof, at not less than par, was pal
to and received by said City of Pay
cite, and the said bonds, and each
thereof may now be refunded, to the
profit and benefit of said City of Pay
cite.
NOW, THEREFORE,, BE 1T OR
DAMNED BY THE MAYOR AND
COUNCIL OF THE CITY OF PAY Q
ETTE:
SECTION 1:-That there are now
and unpaid, that certain
series-of the legal and valid munic- 4
pal water-works 5-1s per cent cou- u
BON bonds of the City of Payette g
canyon County, Idaho, series of 1904, e
of forty bonds of the par :"
-alue of five hundred dollars ($500.00 7"
'ach, dated July LIST, 1904, due alb
olutely July LIST. 1924, bearing inter ~
st at the rate of 5-1s per cent per sd
mum, payable semi-annually ON the IL
lrst days of July and January of Id
ach year, and which said series of al
onds will become optional for re- I'll
emption ON July LIST. 1914; that the
'suance of said bonds was duly and re
gally authorized, and said bonds ~
ere sold Tor value, and the purchase ln'
ice thereof, at not less than par, ou
Is heretofore been paid to and re- dit
lived by said city of Payette; that la'
ere are not now in the treasury of SID
Id city, sufficient funds to pay LII
d redeem said bonds or anv there ha,
ed
SECTION Q: That the City Coun- reg
has determined, and does hereby neI
termine and declare that said issue IND
bonds may now be refunded. to the ett
oft and benefit of said City of Pay not
5e, and without the incurring of ION
y additional liability thereby, and ina
ut it is for the best interests of the
Id City of Payette that there am
ould be issued, the refunding bonds ed
said City to redeem, ltquidate and the
fund said bonds. LOT
SECTION 3; That by virtue and To
pursuance of the provisions of acc
apter IL of Title ID, Idaho Revised OF,
'des, and all Acts amendatory there
and supplemental thereto, there Cit,
all be issued, bonds of said City THIS
Payettet to be denpminated Re attf
nding bonds to the amount of $40, and
0, for the purpose OF refunding une
q amount of the now outstanding sea
paid municipal waterworks coupe tcr'
nds of said city, bearing date the
ly list. 1904, absolutely due and Cit.
yable July LIST. 1924, and optional OF
: redemption ON or after July 1st.,
IA.
SECTION A: That said bonds here. Att
authorized to be Issued shall be -