Payette enterprise. (Payette, Canyon Co., Idaho) 1909-1935, 1914-10-08
ORDINANCE No 2e4
Introduced BY Mr. eorham

AN ORDINANCE TO PROVIDE
FOR THE HOLDING OF A SPECIAL
ELECTION IN THE CITY OF PAY
ETTE. IDAHO, FOR THE PURPOSE
OF SUBMITTING TO THE QUAIL
FLED ELECTORS WHO ARE TAX
PAYERS. THE QUESTION OF IS
SUING THE MUNICIPAL COUPON.
BONDS OF SAID CITY, FOR THE
PURPOSE OF PROVIDING FUNDS
FOR THE CREATION AND BUILD
OF A TEN INCH METAL PIPE
LINE TO CONDUCT WATER FROM
THE CITY PUMPING PLANT IN
| SAID CITY OF PAYETTE, 70 THE
RESERVOIR IN SAID CITY. IN THE
(sUM OF 100000, AND TO PRO
VIDE FOR THE PAYMENT OF IN
TEREST ON SAID BONDS AS THE
SAME SHALL BECOME DUE, AND
TO CREATE A SINKING FUND FOR
THE PAYMENT OF THE PRINCE
PAL THEREOF.
Be it ordained by the Mayor and
Council of the City of Payette, Idaho.
Section /. A special election by
the electors who are tax payers OF
and in the City of Payette, Canyon
County, Idaho, shall be held in the
said City of Payette. on the 14th day
of November, 1914, for the purpose
of submitting to said electors, the
question OF issuing the municipal
coupon bonds OF said City. In the
sum of 100000, payable twenty years
from the date of the issuance of said
bonds, redeemable at the pleasure OF
said City, at any time after ten years
from the date of said bonds; said
bonds to bear interest at rate not
exceeding six (6) per cent per an
mum, payable semi annually; and to
provide for the levy and collection OF
an annual tax upon all Of the proper
ty within the corporate limits of said
City of Payette, sufficient to pay
| the interest on said bonds as the
same shall become due, and to cre-
ate and constitute sinking fund
for the payment at any time after
ten years, the principal of said
bonds as the same shall become due,
for the following purposes, to-wit;
Municipal bonds in the sum of $4,000
to provide the funds necessary for
the creation and building of ten
inch metal pipe line to conduct wat
er from the City Pumping Plant 10
said City OF Pagette. to the Reser-
voir in said City; said bends to be
issued as follows; twelve bonds in
the sum of $4,000, each, payable
twenty years after date of said bonds
with interest at a rate not exceeding
Is per cent per annum, said interest
payable semi annually; said bonds re-
deemable at the pleasufs Of said
City of Payette, at any time after
ten years from the date of said
bonds.
Section 2. That in order to pro-
vide for the payment of the interest
on such bonds, if they are authoriz-
ed to be issued at the election here
in provided for, and to constitute
sinking fund for the payment of the
principal thereof at maturity, a di-
rect tax in addition to all other City
taxes shall be levied and collected
annually, on all the taxable proper
ty within the City of Payette, suffi-
cient to meet the interest on all OF
such bonds as mag be issued and
outstanding from time TO time,
promptly as the same natures, and
also sufficient to establish and main
tain a sinking fund which shall be
sufficient to pay the principal of all
bonds outstanding at their maturity.
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 Pay
cite Enterprise, the official news ,
paper of the said City of Payeste,
and said election shall be conducted |
in accordance with the ordinances of
said City, and the laws of the State
Of Idaho, In such cases made and |
provided.
Section 4. That the voting at said
election shall be by ballot, and the
ballot shall be prepared as to per
nit the electors to express their de-
sire for or against the issuance OF
'aid bonds, and ballots shall be SUBJ
'tantially as follows.
In favor Of the issuance of
bonds in the sum Of $4,000 90, for
the purposes stated In Ordinance
No 264, to-wit; to provide funds
for the creation and building of
metal Pipe Line at the Water
Works In said Cifv