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

treasurer whose duty it is TO collect
such assessment, and all sums so paid
shall be applied solely to the payment
OF the costs and expense of said side
walk Improvement and the redemption
OF the said bonds issued therefor.
Section Z. That on the 18th days
OF February and August, in the year
1917, and on the 18th days of Febru-
AIRY and August, respectively, each
year thereafter, so long as any of the
interest coupons remain outstanding
and unpaid, the village treasurer shall
and he is hereby authorized, ordered
and directed to remit out of the mon
eys IN said Local Improvement Dis
trict No. s, Bond. Interest and Sink
ing Fund, in the form of check or draft
payable in New York, U. S. A., to the
National Bank of Commerce, in the
city OF New York, a sum sufficient to
pay the semi-annual interest accruing
on said bonds on the first DAYS of
March and September, respectively, in
each year, and on the 18th day of
August, 1926, the said village treasur-
er shall, and he is hereby authorized,
ordered and directed, out of the said
Local improvement District No. s,
Bond, Interest and Sinking Fund, to
remit by check or draft, payable in
New York, a sum sufficient to pay
the principal amount of said bonds
then outstanding, due and unpaid, to-
gether with all interest accrued there
on.
Section s. That the sale and award
OF the said Special Assessment I'm
provement Bonds, District No. s, here
inbefore mentioned, heretofore made
by the chairman and the board of
trustees of said village upon the best
terms and at the lowest rate of inter-
est at which said bonds can be sold,
namely, at seven CD per centum in
terest per annum, to Sam A. Forter,
be and the same is hereby ratified
approved and confirmed.
Section g.. That the chairman and
board of trustees and the clerk and
treasurer, respectively, of said village
all, any or either of them, are hereby
authorized, ordered and directed te
furnish the aforesaid purchasers OF
said bonds with such certificates
transcripts, or other documents as
will fully evidence the proceedings
had preliminary to the issuance OF
said bonds, the regularity and suffi
cheney thereof, and the acts of any
one or all of said officers are hereby
authorized, ratified, approved and con.
firmed.
Section 10. That it be and is here
by certified, recited and warranted
that all conditions, acts and things
necessary and essential to the validi
ty of the bonds hereinbefore mention
ed and required by law to be done
have been fully done and performed
Section III. That the provisions o
this ordinance and each of the bond.
and each of the interest coupons is
sued pursuant thereto, shall consti
tute and the same are hereby declar
ed to be a binding and %irrevocabl,
contract between said village and tn,
purchaser of said bonds and the hold
er from time to time of each of sal,
bonds, and the interest coupons there
to appertaining.
Section II. That all resolutions. or
dinances or orders, or parts thereof
in conflict with the provisions hereof
be and the same are hereby repealed
reSc1nded and annulled.
Section 10. That this ordinanc
shall be forever irrepealable until tn
Indebtedness hereby created, both a
to principal and interest, shall hav
been fully paid, satisfied and discharg
ed as provided by the constitution an,
statutes of the state of Idaho.
Section IA. That this ordinance be
ing for the purpose of providing fund
for the immediate payment of tn
costs and expenses of improvement
in said Local Improvement Distric
No. s, is necessary for the immediat
preservation of the public peace
health and safety and an emergenc
exists, and the same shall therefor
be in full force and effect from an
after its passage and approval an
due publication according to law.
PASSED AND APPROVED this ct
day of December, A. d. 1916.
(SeaD H. c. WONES,
Chairman, Board of Trustees.
ATTEST: o. F.. CROWLEY, Clerk.