The record. [volume] (St. Maries, Idaho) 1913-1918, 1915-01-15
SON whatsoever.

Z SON whatsoever.
Section 5. That the interest
falling due on said bonds on Jan
uary {, and July 4, A. d. 1915, and
January 4, A. d. 1916, shall be
: and the same is hereby ordered
appropriated and paid by the city
treasurer from the general OF ex-
pense fund of said city and for
the purpose of providing the nee
essary funds to reimburse said
fund for the amount so borrowed
from il. and also To pay the in
teresl accruing ON said bonds
subsequent TO January 4, A. ID.
1916, promptly when and as the
same falls due, and to constitute
and maintain sinking fund sur
ficieni to discharge the principal
thereof at maturity, there shall
be and by this ordinance there is
hereby lowed upon all of the tax
able property i'm said city, in adj
dition to all other taxes, the fol-
owing direct annual ad valorem
AK. to-wit:
In the year 1915, a tax suf-
ficient to produce the net sum ol
1880 for interest
In each of the years 1916 to
1922. both inclusive, a tax sur
iicient to produce the net sum of
5000 in each year for interest.
In each of the years 1923 to 1892
both inclusive, tax sufficient to
produce the net sum of $1,000 in
each year, being 5000 for inter
est and $1,000 for principal.
In the year 1888, a tax sufficient
to produce the net sum of $3.50
for interest;
but in the event that in the year
1914 a tax is levied by said city
council for the purpose of caring
for any portion Of the interest
accruing on the said bonds, then
the tax levy hereinabove provid-
ed to be made in the year 1915
may be reduced to that extent;
and said tax when COLLECTED shall,
by the treasurer of said city, be
kept in a separate fund to be
known and designated as "Munic-
ipal Coupon Bonds, dated Octo-
her 4, A. d. 1914, interest and
sinking fund.-" which shall be ir-
revocably pledged to and used
solely for the payment of the in
terest accruing on and the prin-
cipal of the said bonds hereby
authorized when due, so long as
any of the said bonds, or the in
terest coupons thereto appertain-
ing remain outstanding and UNI
paid, but shall be used for no
other purpose whatever until the
indebtedness so contracted under
this ordinance, principal and in
terest, shall have been fully paid,
satisfied and discharged.
Section 6. II shall be the duty
of the mayor and council of said
city and they are hereby required
annually at the time and in the
manner provided by law for the
levying of other city taxes, to
ratify and carry out the provis-
ions hereof with reference to the
levying of taxes and requiring the
officers of and for said city to
levy, extend and collect such tax
es in the manner provided by law,
for the purpose of creating a
fund for the payment of the in
terest upon and the principal Of
said bonds, and the said taxes,
when collected, shall be kept for
and applied only TO the payment
of said interest and principal OF
said bonds as hereinbefore speci-
fed, but nothing herein contain
ed shall be so construed as to
prevent said city from applying
any other funds that may be in
its treasury and available for
that purpose to the payment of
said interest or principal as the
) same respectively mature, and
the levy or levies herein provided
for may thereupon to that extent
| be diminished, and upon the pay
f ment Of the principal of any of
= the bonds issued hereunder in
2 said manner, or by use Of the
p sinking fund herein provided for,
I the payment of interest may to
b. the extent of the interest on the
= bonds so paid be diminished.
5 Section Z. That on the 18th
Y days of June and December, re-
] spectively, in each year, so lone
5 as any of the interest coupons
l appertaining to the bonds hereby
p authorized to be issued, remain
e outstanding and unpaid, the city
r frao cho1I onI no hopnbx