The Nezperce herald. (Nezperce, Idaho) 1900-1957, 1915-08-05
ORDINANCE NO. 81.


An ordinance providing for the issu-
ing of Municipal Coupon Bonds of
the Village of Nezperce, Idaho,
in the amount of SIS, 900 00to be
used for the purpose of funding,
refunding, purchasing and redeem
ing the outstanding Bond and War
rant Indebtedness of the Village of
Nezperce Idaho.
WHEREAS. 1t appearing to the hartman and
Board OF Trustees of the Village of Nezperce
Idaho, that it will be more econ. ,mical and %
village and of the said Village of Nezperce
Idaho to fund, refund, purchase and redeem
the outstanding bonds and warrants and war
rant Indebtedness of said village,
AND WHEREAS, in order to fund refund
purchase and redeem said bonds ard warrants
it is necessary to create new evidence of an ex-
listing debt and secure a loan and to issue ne
gotiable coupon bonds OF said village therefore
AND WHEREAS, pursuant to the provisio ms
Of Chapter Twelve CID OF Title Thirteen G3) of
the Political Code of the State of Idaho. and
acts amendatory thereto, the said Village of
Nezperce is authorized TO borrow money and to
issue its municipal coupon bonds in evidence
thereof for strictly municipal purposes
in order to fund.-, refund, purchase and
redeem the outstanding bond and warrant in
debtedness OF said village when the same can
be done to the profit and benefit of said
village, and without mourning any additional
liability without the submission of the ques-
ton OF the issuance OF such bonds to the cleo
tors OF said village.
AND WHEREAS, The bonded indebtedness
proposed to be taken up is now due and unpaid
and there are no funds in the Village Treasury
with which to pay the same,
AND WHEREAS. such outstanding warrant
Indebtedness bears interest at the rate of seven
per cent per annum and such bonds so pro-
posed to be issued cannot bear interest at
rate ex eeding six per cent per annum,
q T.
standing bond and warrant indebtedness of
said village amounts to the sum OF $1,000 90 in
Guiding all the outstanding bond and warrant
indebtedness and interest thereon,
AND WHEREAS, the following resolut ion
was duly passed by the Chairman and the
Board of Trustees of the said Village of Nez-
perez, Idaho, on the End day of August, 1915,
towit:
resolution co provide for the funding. re-
funding purchase and redemption OF the out
standing warrant and bonded Indebtedness OF
the village of Nezperce Lewis County, Idaho.
WHEREAS, 1t appearing to the Chairman
and Board of Trustees of the Village of Nez-
perez, Idaho, tn at it is and will be to the best
interest of said village to take up the outstand-
ing warrant indie btedness of said village and
also the outstanding bonds for which sufficient
provision has not been made and to issue
refunding bo rds inlieu thereof:
AND WHEREAS, Warrants of the said village
and bonds of the said village hereinafter set
forth have not been paid.
NOW THEREFORE, Be 1t resolved by the
Chairman and the Board OF Trustees OF the
Village Of Nezperce, Idaho, that the village
structed to prepare ordinance providing
for the bonding and the issuance of coupon
bonds of the Village OF NezEperce, Idaho, for
the following purposes, to-wit:
To provide for the funding, refu nd1ng, pur-
chase and redemption of the outsta ndiDg war
rant indebtness OF the Village OF Nezperce,
warrant Indebtedness of said village is herein
after set forth and true list of which out
standing warrants are as follows:
w n nj