Shoshone journal. [volume] (Shoshone, Idaho) 1884-1931, 1917-09-07

2. Whereas. each and every OF said
! warrants bear interest at the rate of
7 per cent per annum from the date
thereof.
3. Whereas said outstanding war
rant indebtedness may be funded and
redeemed by issuing Village bonds in
lieu thereof. and that such action will
be OF profit and benefit to the said VII
lage OF Shoshone, without mourning
any additional liability.
4. Whereas, the total in aggregate
OF municipal coupon bonds issued by
the said Village of Shoshone and now
outstanding and unpaid amounts to
s1S,000.00. and that the said assessed
cash valuation OF the real estate and
personal property in the said Village of
| Shoshone, according to the assessment
made during the year 1916 amounts to
| $780,, 5000. and that six per cent of the
said assessed cash valuation Of said
real estate and personal property am
cunts to sS0.1S1.0o.
S. Whereas, 1t Is the purpose of the
Chairman and Board OF Trustees of
said Village OF Shoshone to Issue mum |
icipal coupon bonds in the sum OF So, |
10000 for the purpose OF funding and
redeeming the said outstanding war
rant lnQeDteuneSS OF sdlu NiltdBcr uc-
scribed and set forth in paragraph l
OF this ordinance.
THEREFORE,. BE 1T ORDAINED
by the chairman and Board of Trustees
of. the Village of Shoshone. County ~
Lincoln. State of Idaho:
Section l. That the said Village of
Shoshone issue municipal. negotiable.
coupon bonds dated January 1st 1918.
for the total amount OF 100000. to
bear interest at a rate not exceeding
six per cent C. per cent? per annum,
interest to be paid semi-annually on
the first day of January and the first
day of July of each year.
Section ?. Said bonds to be issued
for the purpose OF funding and redeem
ing the outstanding warrant indebted
ness of said Village of Shoshone as
hereinbefore set forth and enumerated.
Section g. That said bonds shall be
issued as nearly as practical in demon
nations of One Thousand Dollars
81. 100000 each, but bonds of the de-
of Five Hundred Dollars
S500.00) or of One Hundred Dollars
100000 may be issued in case the
chairman and Board of Trustees of
aid Village deSm it necessary.
Section 4. That said bonds shall be
made payable within twenty years from
he date of issuance thereof and shall
'e redeemable at the pleasure Of the
aid Village Of Shoshone at any time
fter the expiration Of ten years from
he date OF Issuance thereof. Said
onds shall be numbered consecutively
nd shall be iedeemable In the order
{ their numbers
Section 8. That said bonds shall be =
4. D. IL. -
.ge treasurer OF the said Village of II
hoshone. or at any banking house or sh
rust company In the city of New York M
may be designated by the Chair be
an and Board OF Trustees Of said VIII be
sc Of Shoshone. at the option of the a
,lder thereof vi
Section 8. That 70 provide for the Ids
yment Of interest on said bonds there tn,
all be levied on all of the taxable pro- !
rty within said Village Of Shoshone exi
addition to all other taxes. an annual in
x sufficient 10 pay the interest on all il
said bonds disposed Of; and that to the
Divide sinking fund for the pay the
snt OF the principal of the bonds, of
ere shall be levied annually. after
CHI bonds have been issued, for n
riod OF ten years. and In addition to A.,
other taxes a sufficient tax TO pay
e-tenth r-10) of the principal of g.
ID bonds. all of such taxes to be lev
!, assessed and collected as other n
llage taxes until the bonds so issued
, fully paid. including the interest pne
sreon. The proceeds derived from TO |
d taxes to be used exclusively for typ
, purpose for which it was levied. 90,
Section 7. That notice OF the inten-
y Of the Chairman and Board OF we