The Kendrick gazette. [volume] (Kendrick, Idaho) 1892-1968, 1917-03-23
ORDINANCE NO. al

| An ordinance to provide for the
holding of special election in the
lVillageIof Kendrick, Idaho, for the
purpose of submitting to the quail
fed electors of said village, who
are tax payers therein, the question
j of authorizing the issuance of nego-
table municipal coupon Bonds of
said village in the total sum of five
thousand dollars, principal and in
terest payable in gold coin of the
United States of America of the
present standard of weight and fine.
ness for the purpose of purchasing
the system of water works. of the
Kendrick' Water and Power Com
pany, Limited: to fix the number
of such bonds, the denomination
and total amount thereof and the
maximum rate of interest to be
paid; to designate the provisions to
be made to pay such interest as it
falls due, and also to constitute a
sinking fund for the payment of
the principal thereof within twenty
years from the date of the issuance
of the same.
Whereas subsequent to the incor-
; poration of the Village of Kend-
rick, Idaho, the Kendrick Water
and Power Company, Limited, in
stalled, constructed and is now op-
Grating a system of water works
for supplying water to the said
Village and the inhabitants thereof
for business and domestic use;
And whereas, the Chairman and
the Board of Trustees. of said Will
age have examined said water sys-
TEN and estimated the cost of dup
licating the same at not less than
the sum of eight thousand $1,000
dollars;
And Whereas, the Kendrick
Water and Power Company, Limit
ed, has agreed in writing to sell it's
aforesaid system of water works in
said Village, including the springs,
reservoir, reservoir site, and all
machinery, and all mains, laterals,
pipe lines, connections, bitches, n.y.
drants, fixtures, meters, tools and
equipment of every kind or nature
belonging to or used in connection
with the said water system, and all
rights, privileges and appurtenances
thereto belonging for the sum of
five thousand five hundred 5000
! dollars;
And Whereas, petition has been
filed by number of the electors of
( the Village of Kendrick. Idaho, who
are tax payers therein requesting
the calling of an election for the
issuance of bonds for an amount
sufficient to furnish the Village OF
Kendrick. Idaho, with an adequate
municipal water supply;
And Whereas, it appears to the
Chairman and Board of Trustees OF
said Village that the said Village
of Kendrick is without water fol-
fire protection, and that the mains
of said system shonld be extended
and improved so as to make the
same more efficient and supply ar
abundance of water to the Village
for fire protection, and the inhabi
tants thereof for domestic and bust
ness use;
And Whereas. the only way tt
obtain such relief and install sucf
mains as will be necessary for fir,
protection and to improve and eX
tend said system is by the purchase
of same by the said Village O.
Kendrick at the agreed price O.
five thousand five hundred dollars
| free and clear of all liens and in
cumbrances;
And Whereas, it appears from
| the financial statement submitte'
i. by the Treasurer of said Village
according to the assessment for tn
- year 1916, as shown by the assess
I ment rolls in the Office of the AS
SCISSOR of Latah County, State o
Idaho, that the total real estat
value of said Village is the sum o
one hundred six thousand seve
hundred fifty dollars, and that tn
total outstanding Indebtedness O
said Village of every kind or natur
is the sum of ------ dollars
and it further appearing to tn
Chairman and Board of Trustees Q
said Village from the Treasurer
statement that there is a balance Q
two thousand one hundred fit
dollars and twenty seven cents o
hands in the Village Treasury, an
that no bonds are outstandin
against said Village, and that tn
issuance of said proposed bonds fo
the sum of five thousand dollar
will not exceed the amount author
lied by the laws of the State c
Idaho, and will not cause the sal
Village to exceed in any year tn
q i