Montpelier examiner. [volume] (Montpelier, Idaho) 1895-1937, 1914-11-13
Commissioners Proceedings.
(Continued from last nnce J

CONTINUED from last page)
payable semi-annually. it was moved
by Commissioner Howell and second
ed by Commissioner Quayle that the
said bonds be sold, awarded and de-
hvered to said James N. Wright &
Company.
Thereupon the following resolution
was introduced by Commissioner
Howell, seconded by Commissioner
Quayle, duly considered and unani-
mously adopted, as follows, to-wit:
WHEREAS at an election duly
called and legally held in the county
OF Bear Lake and state of Idaho on
Tuesday, September LIST, A. D. 1914
after due notice thereof had been Civ
en- for the time, and in the manner
required by law, there were authoriz-
ed to be issued the bonds of said
county for the purpose of raising
money to pay two-thirds of the cost
OF construction of a state highway
to be built through Bear Lake County,
Idaho under the supervision of the
State Engineer, in the aggregate
amount of Fifty Thousand Dollars
($50,O00) and
WHEREAS after ascertaining the
best terms upon and the lowest in
terest at which said bonds can be
negotiated, the bonds have this day
been sold for cash and awarded to
James N. Wright & Company, Den
yer, Colorado by the county treasurer
under the general supervision of the
county commissioners of said Bear
Lake County at not less than par for
bonds bearing interest at the rate of
five and one-half (5h) per centum
per annum, payable semi-annually.
NOW THEREFORE be it resolved
and ordered and it is hereby ordered
by the board of county commissioners
of Bear Lake County, Idaho:
l. That for the purpose of raising
money to pay two-thirds of the cost
OF construction of state highway
to be built through Bear Lake Coun-
ty, Idaho, under the supervision of
the State Engineer, and as authoriz-
ed at an election duly called and leg
ally held September LIST, A. d. 1914.
there are hereby authorized to be
issued and delivered to James N.
Wright & Company, purchaser there
of in accordance with the contract of
sale heretofore made to that end, the
negotiable coupon bonds u the county
OF Bear Lake in the aggregate am
cunt of Fifty Thousand Dollars $780,
OOO) Said issue shall consist of fifty
(5O) bonds in the denomination of
One Thousand Dollars $4,000 each,
payable in lawful money of the Unit
ed States of America, bearing date
and bearing interest from November
list, A. D. 1914 at the rate of five
and one-half (51a) per centum per
annum, payable semi-annually on the
first days Of January and July in
each year, redeemable five years from
the date of their issue and absolutely
due and payable in numerical order,
ten E10) per centum thereof on Nov
ember LIST, 1924 and ten (1O) per CEN
tum thereof in each of the following
years to 1888 inclusive. The interest
on said bonds shall be evidenced by
coupons each representing one-half
years payment of interest, except
the first and last coupons of each
bond, which together, shall repres-
ent one years interest. Both prin-
cipal and interest on said bonds shall
be payable at the office of the county
treasurer of Bear Lake County or at
the National Bank of Commerce, in
the city Of New York at the option
of the holder. Said bonds shall be
signed by the Chairman of the board
of county commissioners, attested by
the clerk of said board and bear the
seal thereof and be countersigned by
the county treasurer of said Bear Lake
County. The coupons annexed to such
bonds shall be signed by the treas
urer Of the county by engraved fac
simile signature and each bond so is
sued shall be registered by the county
auditor in good kept for that pur-
pose and therein must be stated the
number, date, amount, time and place
of payment, rate of interest, number
of coupons attached and any other
proper description thereof for future
2. Said bonds and the coupons
thereto attached shall be in substan-
TALLY the following form:
UNITED STATES OF AMERICA
STATE OF IDAHO
BEAR LAKE COUNTY
ROAD BOND
No.. -. 100000