American Falls press. [volume] (American Falls, Idaho) 1907-1937, 1915-01-14

the following direct annual ad Talorem
tax. to-wit: Beginning with and in
each of the years 1915 t 1884. inclus-
i've, a direct a for interest, suffic-
lent to raise annually a sum equal to
the interest accruing on said bonds
ana In each OF the years 1S2j to 1884
inclusive, a further tax for principal,
sufficient to annually retire one-teDth
OF the principal AMOUNT Of said bonds;
and said tax, when collected, shall I've
kept in a separate fund to be known as
and designated Highway District No.
.- of Power County, Idaho, bond inter-
est and sinking fund.-" which shall be
irrevocably pledged TO and used sole
ly for the payment of the interest on
and h principal of the said bonds
hereby authorized when due, so long
as any OF said bonds or the interest
coupons thereto ap~pertaining remain
outstanding and unpaid; and for great
er certainty the Board of County
Commissioners OF said County shall in
each of said years 1915 to 1854, both
inclusive, include the bond tax herein
above levied for such year il the an
nual estimate for said highway dis
trict for such year and said bond tax
shall in each of said years be certi-
fled, extended upon the tax rolls, aud
collected by the same officers, in the
same manner and at the same time as
the taxes for general county purposes
for said county are certified, extended
and collected.
IL. 1t shall be the duty of the Board
OF County Commissioners and they are
hereby required annually at the
time and in the manner provided by
law for the levying of other axes, to
ratify and carry NJ the provisions
hereof with reference to the leyying
OF taxes, and requiring the officers of
and for said county to levy, extend and
lect such taxes in the manner proyid-
ed by law, for the purpose of creating
a fun for the payment of the interest
upon and the principal of said bonds.
and the said taxes, when so collected.
shall be kept for and applied only to
the payment of said interest and prin-
cipal of said bonds as herejnbefore
specified, but nothing herein contained
shall be so construed as to prevent
said district from applying any funds
mat may be in the treasury and avail
able for that purpose to the paymen
OF said interest or principal as the
same respectively mature and the levy
or levies herein provided for NAV
thereupon to tht extent be diminish
ed, and upon the payment of the prin-
cipal OF any of the bonds issued here
under in said manner, or by the use
OF he sinking fund herein provided
FOR, the levy or levies herein provided
Tor the payment of interest may to
the extent of the interest on the bonds
so paid be diminished.
IL. That all resolutions or parts
thereof, heretofore passed or adopt-
ed, in conflict with the provisions of
this resolution be and the same are
hereby repealed.
IL. That this resolution shall be In
full force and effect immediately upon
its adoption.
The motion was duly seconded by
commissioner S. L. Payne. and the
question being upog the adoption of
the foregoing resolution, the roll was
called with the following result:
President r. b. Greenwood Ave
Commissioned h. Il. Earring AYE
Commissioner S. l.. Payne. Ave
Aud the motion was by the president
declared carried and the FOREGOING
resolution duly and unanimously adj
opted.
There being no further business to
come before the meeting. the same ad-
journed.
APPROVED, December 2Sth. 1914.
r. b. GREENWOOD.
President.
lShAL} Il, +. Earring,
Attest:
VIM. SCffMIDT.
Secretary.
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