The Nezperce herald. (Nezperce, Idaho) 1900-1957, 1917-01-18

the uottcta required hN law fffhttNt to
the redemption Of the lots, pieces and
parcels Of land in said Local Sewerage
Improvement District No. I from all
liability for such assessments. The
bonds hereinafter provided for shall
not be issued prior 70 twenty (2Ol days
after the time allowed by law for the
redemption from all liability Of the
lots, pieces or parcels of land Ia said
improvement district, but may be is
sued at any time thereafter. All as
sessnents collected by said treasurer,
or which may be turned over 10 him
BY any other duly authorized person
or officer collecting the same, shall be
set aside in a fund which shall be
known as Redemption Fund Of Local
Sewerage Improvement District No.
I, and such funds shall be applied
solely toward the payment OF the costs
and expenses Of the Improvement here
in provided for and the redemption Of
the bonds hereinafter provided
Section 10. For the purpose Of pro-
viding funds for the payment Of the
costs and expenses Of the improve.
ments, by installments, as herein pro-
vided for, Improvement Bonds Of said
district shall be issued in the name of
the Village Of Nezperee, Idaho. Such
bends shall be known and designated
as Especial Assessment Sewerage In-
provemsnt Bonds, District No. l. " said
Bonds shall be payable on or before
ten (lO) years from and after the date
Of issue OF such bonds, which latter
date may be fixed BY resolution or or
der Of the Board Of Trustees Of the vii
lage, and shall bear interest az the rate
Of per cent per annum, which said
interest shall be payable annually Al
the office Of the treasurer Of the Vii,
lage of Nezperee. Said bonds shall be
issued in denominations OF Five Hun
bred (s50OO0) Dollars each, and mum
bered from one upward eonseeutively,
and each bond and interest coupon shall
be signed by the Chairman Of the Board
Of Trustees Of the Village Of Ne1pcree,
and atteated By the Clerk Of said Vii
lage. Provided. however. that said
ecuI~ns may, in lieu Of being 80 sign
ed, have printed theFcon fac-simile Of
the signature Of said Officers. Each Of
such bonds shall have the seal Of
the Village Of NezpeFee affixed thereto
and shall refer 10 the Improvement fos
the paymnt Of which the sane shall b.
issued. Each bond shall provide that
the principal sum thereon named and
NNN AMNNNNHh NkNNENM NNMM NIE NAN AUAN
out Of the local improvement fund
created for the payment Of the cost
and expense Of such improvement, aud
not otherwise. Said bonds may be il.
sued % the contractor constructing the
improvements in payment thereof, or
the sewer committee NAV sell and dis.
pose Of the same AZ not less than their
par value, net, and pay the contractor
out Of the proceeds Of the sale, pro
vided that such bonds shall not BE- 10
sued i'm excess Of the contract price and
expense Of such work and Improvement
Provided, further, that in determinGing
the amount for which said bonds may
be issued, the interest coupons thcFcun.
10 attached shall not be included.
Section II. The Village Treasurer
Of Nezperce shall pay the interest on
the bonds authorized 10 be issued By
the ordinance out Of the redemption
fund herein provided for. Wheneves
there shall be sufficient money IN said
redemption fund against which bonds
have been issued under the provisions
Of this ordinance, over and above suf
fieient for the payment Of interest on
all unpaid bonds, 20 pay the principal
OF one or more bonds. the said treasur.
81 shall call in and pay such bonds.
provided, that such bonds shall be call
ed In and paid In their numerical order
Proved, further, that such call shall be
made BY publication In The Nezperce
Herald, nsthe official Newspaper d the
Village Of Nezperes IN che day follow
ing the delinquency Of any installmcnt
0f the assessment or as soon thereafter
~ practicable, and shall state that
Bond No. giving the serial number
Or numbers Of bonds called win BE-
paid en- the day the next interest eou.
pom on said bonds shall become due,
and interest on said bonds shall cease
ipon such date.
Section 12. The Troaurer Of the
Village Of Nezperec shall, 10 making q !
eeeipt for the payment Of any assess. !
nent or installment Or interest upon
ny installment, make receipt in tripli !
ate, one copy Of which he shall ~.
ain in his office, one copy Of which /
Ie shall deliver 20 the person or persons !
o paying the same, and one copy Of
ghieh he shall deliver TO the Village
Jerk, and when the entire assessment
r all Of the installments and all the q
interest IN paid upon any lot, piece or
areel Of land, IL shall be the duty Of
aid clerk 10 enter opposite the said 4
i, piece or parcel Of land IN said as 4
sssmsnt roll that the lien Of such a.. Z
,ssmenf is discharged.
Section 10. The holder If any bond I
sae under the authority Of the laws z
the State Of Idaho, or Of this ordin. :
nee, shall have no claim therefor 4
gainst the Village Of Nexpesee, except o
y the collection Of the special assess y
ent made for the work ~ improve y
ent within the said Local Sewerage :
District No. ] for which
I'd bonds were issued, but the remedy
case Of non-payment shall be confin. =.
70 enforcement Of such assessment.
This section Is provided for BY Subdi. q
sion Is Of Section 1858 Idaho Revis Y
Codes, as amended ana a copy Of v
id subdivision shall be plainly written. :.
inted or engraved upon the face Of ID
eh bond issued by virtue Of this or. n
nance.)
Section A. All contracts entered "a
10 by the Sewer Committee for such -
,rk and Improvement as set out In
is ordinance, shall provide that the
me shall be completed IN strict &C.