The record. [volume] (St. Maries, Idaho) 1913-1918, 1915-01-15
ORDINANCE NO. 4se


DUE ADVERTISEMENT AND
SALE OF $4,000 MUNICIPAL
COUPON SIX PER CENT BONDS
OF SAID CITY TO keller BRO
THEIRS, OF DENVER, COLORADO
AS THE HIGHEST AND BEST
BIDDER THEREFOR, AND AU-
THORIZING THE ISSUANCE AND
DELIVERY OF SAID BONDS TO
THE PURCHASER AFORESAID,
IN ORDER TO PROVIDE FUNDS
WITH WHICH TO IMPROVE
CERTAIN STREETS AND AVE
NUES, AS AND IN THE MANNER
DESIGNATED IN ORDINANCE
NO. 154 OF SAID CITY, PRE-
SCRIBING THE FORM OF THE
SAID BONDS AND THE INTER-
EST COUPONS TO BE ANNEXED
THERETO AND PROVIDING FOR
THE LEVY, ASSESSMENT AND
COLLECTION OF A DIRECT AN
NUAL AID VALOREM TAX ON
ALL OF THE TAXABLE PROP
ERTY IN SAID CITY SUFFICIENT
TO PAY THE INTEREST AC-
CRUING UPON SAID BONDS
PROMPTLY WHEN AND AS THE
SAME BECOMES DUE, AND AL
SO AT THE LAWFUL TIME, A
FURTHER ANNUAL AID VALOR-
EN- TAX ON SAID TAXABLE
PROPERTY SUFFICIENT TO
CONSTITUTE AND MAINTAIN A
SINKING FUND FOR THE PAY
MENT OF THE PRINCIPAL OF
SAID BONDS WITHIN TWENTY
YEARS FROM THE TIME OF IS
SUING THE SAME, AND DE
CLARING AN EMERGENCY.
WHEREAS, In accordance with
that certain resolution of the
city council passed and approved
August, %, 1914, notice of pro-
posal to issue and sell $4,000
municipal coupon bonds of and
by the city of st. Maries, in Koot-
enai County, Idaho, and inviting
bids therefor, was published
twice each week for a period of
four a. consecutive calendar
weeks in 1.-THE Record" a BIZ
weekly newspaper printed, pub
lished and of general circulation
in said city, in the issues thereof
of September 4, September 4,
September 8, September II, Sep
TENDER is, September 18, Sep
TENDER %, September 25 and Sep
TENDER 20, A. d. 1914, and evil
dence of such publishing has
been furnished to the mayor and
council of said city in the form OF
publishers AFFIDAVIT; and
WHEREAS, The municipal
coupon bonds hereinbefore and
hereinafter mentioned have here
tofore, pursuant to the advertised
notice of sale aforesaid, by the
city treasurer, under the general
supervision of the mayor and
city council, been duly awarded
and sold, bearing six co. per
cent interest to Keller Brothers,
OF Denver, Colorado, who were
the highest and best bidders
therefor, at a price exceeding the
par value of said bonds, together
with all accrued interest thereon;
and
WHEREAS, The total valua-
ton of all the taxable property
iD said city as shown by the last
assessment made in the year
1914, as finally equalized by the
state board of equalization for
state, county and city purposes,
and as certified to the city clerk,
is S753, 345.OO, and
WHEREAS, The total outstand-
ing indebtedness that is a direct
and general obligation of said
city, of every kind and character
including all contract, bonded,
warrant, floating and other in
debtedness, and the $4,000 bonds
by this ordinance authorized,
amounts to the sum of S34OO9.21
being comprised of bonds to the
extent of $4,000 and warrants
to the extent of S7OO9.2i; and
WHEREAS, The ayor and coun-
ell of said city have determined
and decided that all conditions,
acts and things necessary and
essential to the validity of the
bonds of said city hereinabove
and hereinafter mentioned and
required by law to be done, have
been fully done and performed
Now, Therefore, in consideration
Of the premises,
BE IT ORDAINED BY THE
MAYOR AND COUNCIL OF THE
CITY OF ST. MARES, IN KOOT-