American Falls press. [volume] (American Falls, Idaho) 1907-1937, 1916-12-14

s~pectively, in each year, which INSTALL
ments Of interest to date of maturity
OF principal shall be evidenced by an
propriate coupons attached to each
bond: and both principal OF and in
terest on said bonds shall be payable
In lawful money of the United States
OF America out OF Local Sewerage
Improvement District No. Bond.
Interest and Sinking Fund al the Ma
tional Bank of Commerce. in the city
and state of New York, u. s. A,
Section 4. That each of said bonds
and each of the interest oupon TO
be thereto attached, shall be in sub
stantially the following forms, re-
spectively. to-wit:
(Form of Bond.)
UNITED STATES OF AMERICA
State of Idaho County Of Power
VILLAGE OF AMERICAN FALLS
>o.~""...-''''....- $.......~..~~.--..
Special Assessment Sewerage I'M
provement Bond. District
No. 2.
KNOW ALL MEN BY THESE
PRESENTS, That the village of Amer
lean Falls. Of Power county, idaho.
acknowledges itself to W and for
value received hereby promises to pay
to the bearer hereof, the principal
sum
dollars on or before August /, A. ID.
1926, together with interest on said
sum from the date hereof until paid
at the rate OF seven ca per centum
per annum. payable semi-annually on
the first days OF February and August.
respectively in each year. as evidenced
by and upon the presentation and sur-
render of the interest coupons hereto
attached as they s%everally become due;
and both the said interest on and prin-
cipal of this bond are hereby made pay-
able in lawful money of the United
States of America at the National Bank
OF Commerce, In he city and state
OF New York, U. $. A., cut of the local
improvement fund heretofore created
for the payment of the costs and ex-
penses of the Improvement In Local
Sewerage Improvement District No. 2,
in aid village. and not otherwise.
This bond is issued by said village
for the purpose OF providing funds for
the payment of the costs and expenses
of said sewerage system and sewerage
disposal works in and for said Local
Sewerage Improvement District No. 9,
pursuant to. under. by virtue of and
In all respects in full and strict COM
pliance with the constitution and
chapter so, session laws of Idaho of
1911, being an act entitled: AN Act
amending section 1853 Of the political
codes of Idaho. relating to assessment
and bond issue for sewerage improve
ments; and declaring an emergenav /"
passed by the Legislature of said state
at its 1911 session and approved
March ID, 1911, and all laws of said
state supplementary thereto and amen-
datory thereof,
And IL is hereby certified, recited and
warranted that said village is now and
for some years past has been a village
of said state. and a body polite and
corporate, duly organized, existing and
operating under and by virtue of the
constitution and laws Of the state of
Idaho, and Is now and always has been
under the control of a duly organized
board OF trustees as the duly consti-
tuted corporate authority thereof; that
all things. acts and conditions requir-
ed by the constitution and laws of the
state of Idaho and ordinances of said
village, to exist and to happen and be
done and performed, precedent to and
m the creation of the said Local Sew
erage improvement District No. 2 and
the construction OF a sewerage system
and sewerage disposal works therein
and therefor, and the issuance OF this
bond I'm order to constitute the said
bond the valid and binding obligation OF
said village. and payable as aforesaid
do exist and have happened and beer
done and performed In regular and
due form n time; that the total costs
and expenses OF said improvements
have been duly levied and assessed
as special assessments for sewerage
improvements upon all of the lands
lots, and pieces and parcels OF land
In said Local Sewerage Improvement
District No. 2, separately and in addi-
ton to all other taxes, and said special
assessments are a lien upon said lands
lots and pieces and parcels OF land
and take precedence OF all other liens;
that due provision has been made for
the collection OF said special assess.
meDts. and for the levy and collection
OF a direct annual tax, sufficient "a
pay the interest accruing hereor
promptly when and as the same falls
due. and also to discharge the princi
pal hereof at maturity.
In conformity with subdivision Is
chapter 80 OF said session laws OF 1911
II is hereby recited that, THE holder
OF any bond issued under the authori.
ty OF this chapter. shall have no claim
therefor against the city, town or VII.
lage by which the same Is issued iI
any event, except for the collection %
the special assessment made for tn,
work Of Improvement for which sait
bond was issued. but this remedy, n
case OF non-payment, shall be conhn
ed to the enforcement OF such az
sessment.
A copy OF this subdivision shall b.
plainly written, printed or engrave,
upon the a OF each bond so issued.
This bond is redeemable by said vii
lage on any interest payment date
upon call Of the treasurer OF said VII
lage made prior thereto by publication
for thirty 1907 days in the officia
newspaper following the delinquencl
Of any inatallment OF the asgessment