Montpelier examiner. [volume] (Montpelier, Idaho) 1895-1937, 1914-08-07

date of their issuance, and shall be paid
in the following manner: Ten percent
of the total amount issued to be paid
in ten years from the date Of issue; and
ten percent annually until all of said
bonds are paid; and shall be redeem
able at the pleasure of the said county
at any time after five years from the
date Of issuance, provided that such
time and option be stated ON the face
Of each bond, and each bond must be
redeemed in the order it ia numbered :;
and said bonds shall comply in all re-
spects in form and substance with the
provisions of the laws of the State Of
Idaho above mentioned, pursuant TO
and by virtue of which the same are
issued. Provided, however, that the
bonds herein above provided for shall
not be issued or sold until two-thirds
Of the electors who are qualified to-
vote and devote at special election
called for that purpose and to be held
as herein provided shall assent to
such issue and sale.
End. That in order to pay the inter
est on said bonds from the date of is
suance If not paid as provided in Chap
ter ITO of the Laws Of 1913, of the State
Of Idaho and 10 constitute a sinking
fund on and after the year 1924 for the
payment OF the principal Of such bonds,
within 20 years from the date of the
issuance of the same, there shall be and
there is hereby levied special aunual
tax on all the taxable property within
the said county of Bear Lake, In addi-
Uion to all other authorized taxes, a
special tax each year producing sum
sufficient to pay any interest that may
be necessary to be paid out Of such
special tax and one tenth of the princi
pal Of said bonds so issued and sold, to
be held as sinking fund and to be
safely invested as directed by the board
of County Commissioners or to be APP
piled in the payment Of the principal
Of said bonds in the payment OF the
principal of said bonds in the discretion
of the said board; it being the intention
and purpose hereof, to make full and
adequate provision for the collection of
an annual tax sufficient to pay any in
terest on such coupon bonds that may
be necessary to be paid out Of such
special tax as it falls due, and also to
constitute sinking fund on and after
the year 1924 for the payment of the
principal of such coupon bonds within
20 years from the date of issuance.
Provided that no greater amount of
taxes shall be levied. assessed and col
lected than is necessary TO pay aud dis
charge any amount or amounts due on
said interest and to said sinking fund
for that year after the amonnt allowed
by the state of Idaho as provided in
Chapter I79 of the laws of 1918, shall
have been applied on the payment OF
the sums due on the said ponds
Bird. That the said State Highway
SO constructed shall after the compile.
ton thereof be forever kept up and
maintained by the State Of Idaho.
4th. That special election of the
electors of Bear Lake county, qualified
to vote at such election, be held in the
said county of Bear Lake on the FIRST
day Of September 1914, for the purpose
of submitting and at which shall be
submitted to the said electors the ques-
ton Of the issuance by said county con.
pom bonds in the amount of Fifty
Thousand dollars, payable within 20
years from the date of issuance, re-
deemable at the pleasure of said county
at any time after the expiration Of five
years, bearing interest at the rate Of
not TO exceed six per cent per annum.
interest payable seml-anuually, and to