Camas Prairie chronicle. [volume] (Cottonwood, Idaho) 1901-1917, 1915-09-17
Ordin ance No. 90.
Attest:
M. NJ. BELKNAP,
Village CLERK.


| An ordinance to provide for the holding
OF special election in the Village eof
Cottonwood, in Idaho County, State
of Idaho, for the purpose of submit
ting to the qualified electors of said
Village, who are taxpayers therein,
the question of authorizing the issu-
ance of Municipal Coupon Bonds of
said Village i'll the total sum of
$4,000 90 payable principal and in
terest in gold coin of the United
States of America, of the present value
OF weight and 6neness, for the purpose
of paying the Villages portion of the
cost of paving and otherwise improving
a portion of Main Street and por-
ton of King street in said Village
of Cottonwood, and to fix the number
of such bonds and the total amount of
such bond issue, the maximum rate of
interest to be paid, and to designate
the provisions to be made to pay such
interest as it falls due, and to consti-
tute sinking fund for the payment of
the principal of such bonds within
twenty years from the date of the is
suance of the same, and to provide
for notice of such special election and
| designate newspaper in which such
notice of such special election shall be
| published.
Whereas, it appears from the financial
statement submitted by the treasurer of
said village that the aggregate assessed
valuation of all of the real estate and
personal property in said Village of Cot
tonwood, according to the last proceed
ing assessment roll, to wit, the assess
ment roll for the year 1914, is sara
So2.7 70; and it further appears from said
statement that the total outstanding in
debtedness of said village, of every ma
ture and description is less than 81. 90;
and it further and fully satisfactorily
appears from said statement that the is
suance of such bonds to the amount
herein contemplated will not exceed the
amount authorized by law and will not
cause the said village in any year to ex-
coed the amount of taxation limited by
law; And,
Whereas, the Village of Cottonwood
has created local improvement district
for the paving and otherwise improving
of portion of Main street and portion
of King street, and the portion of the cost
of such improvement which the Village
of Cottonwood should pay at large a.
mounts to IS, 10000,
Now, Therefore, be it ordained by the
chairman and board of trustees of the
village of Cottonwood:
Section l.. That a special election
shall be held in the Village of Cotton
wood, Idaho county, state of Idaho, up
on the 18th day of October, 1915, at
which election there shall be submitted
to the qualified electors of said village,
who are taxpayers therein, the question
of authorizing said Village of Cotton
wood to issue its negotiable municipal
coupon bonds, with semi-annual interest
coup ons attached, payable principal and
interest in Gold Coin of the United
States of America of the present stand
ard of weight and fneness, interest pay
able upon the first day of January and
the first day of July in each year at a
rate not exceeding six per cent per an
mum, payable at the Office of the Treas
urer of said village or at the National
Park Bank i'll the city of New York, at
the option of the holder of such bonds.
Sec 2. That there shall be five
of such bonds in the principal sum of
81, 900. 90 each, making total bond is
sue of $4,000, and the same shall
be known as Municipal Coupon Bonds OF
the Village of Cottonwood, in Idaho
county, state of Idaho; that each of such
bonds shall be made payable in twenty
2o) years from the date of issuance and
redeeniable at the pleasure of the said
village at any time after the expiration
of ten years from the date of issuance;
that such bonds shall be numbered in the
order of their issuance and each bond
shall be redeemed in the order it is num-
bered; that each bond shall state upon
: its face the amount for which the same
is issued, the date of issue, and be made
payable to the purchaser Whose name
Shall be designated thereon) or bearer
and each bond shall recite that it is is
sued in conformity with the provisions
of Chapter IL of Title 10 of the Revised
Codes of the State of Idaho and the
amendments thereto.
Sec. 4. That there shall be attached
: to each bond, when negotiated, semi
annual interest coupons covering the
interest expressed in the bond from the
!, date of issue until paid.
Sec. d. That such bonds shall be
signed by the Chairman of the Board Of
: Trustees and attested by the Clerk, and
be countersigned by the treasurer and
bear the seal of said Village of Cotton
: wood; that each coupon attached to such
. bonds shall have annexed to the same 6
i number corresponding with the number
of the bond and be signed by the treas
urer of said village.
Sec. s. That the purpose of said bond
issue is to provide funds for the purpose
of paying the villages portion of the
Z cost of paving and otherwise improving
E a portion of King street and portion
of Main street in the said Village of Cot
S tonwood, under and by virtue of the
! authority of Subdivision No. of Sec
: 2315 of the Revised Codes of Idaho, a
B amended by an Act of the Legislature
s of the state of Idaho approved Marcel
|, 10th, 1915, Chapter "a, Laws 1915, p
a 1901 That the proceeds from the salt
! of such bonds shall be used exclusively
5 for the purpose for which such bond
are issued.
! Sec. E. That the clerk of said village
5 5 be and hereby is directed to give notice
|. of the time and place and the purpos'
e of such election, and cause said notice t.
e be published in the Camas Prairie Chron
d icle, a weekly newspaper of general cir
d culation printed and published in sait
= Village of Cottonwood; that such motto
n shall be published i'll two issues of SAT-
!, paper, the last publication shall be a
= least thirty days before the time in thi
n ordinance fixed for such election; tina
t such election shall be conducted as othe
!. general elections held in said village