The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1917-07-05

by law for the collection of state ano
county taxes in Shoshone County
State of Idaho, and in all sales foi
delinquent taxes for municipal pur-
poses, if there be other delinquent
taxes from the same person, or lien
upon the same property, such sale
shall be for all delinquent taxes; and
such sale and all sales made under
and by virtue of this section of the
provisions of law herein referred to
shall be of the same validity, and In
all respects be deemed and treated as
though the sales had been made for
the delinquent State and County
taxes exclusively.
The amount Of such assessment
which shall be payable and collectible
each year shall be one of each annual
Iinstallments with interest due thereon,
together with the interest on all In
stalments thereafter to become due,
and the whole to be collected as a
separate special tax In the manner
provided by law and this Ordinance
for the collection of such assessments
where no bonds are issued.
! Section IA. That for the purpose of
providing for the payment of the cost
and expenses of said street and alley
improvements made in said Local I'M
provement District No. 8. as above de-
scribed wherein the costs and expenses
of said improvements are charged to
| the lots, pieces or parcels of land
fronting or abutting on said portions
of said streets or alleys improved,
contiguous or tributary thereto, and
| included in said Improvement District,
the City Council shall issue and dis
pose of special assessment street inn
provement bonds of Local Improve
ment District No. s, which improve
ment bonds shall be issued in the
name of the City of Wallace and
shall be known and designated as
ment Bonds of Local Improvement
District No. s."
Section Is. That said Local I'M
provement District No. 5 bonds shall
be payable on or before ten (l0) years
from date thereof, and shall bear in
terest at the rate of Seven G. PEI per
cent per annum which said interest
shall be payable annually at the office
of the City Treasurer at Wallace,
Idaho. Said bond shall be issued in
denominations of Five Hundred
($50000) Dollars each and shall be
numbered from One Q) upwards con-
Isecutively, and each bond and coupon
shall be signed by the Mayor of said
City and attested by the City Clerk.
Each of said bonds 50 issued to be
one of a series of bonds issued to pay
the cost and expenses of the street
and alley improvements made in said
Local Improvement District No. s, and
assessed and charged against the lots,
pieces or parcels of land in said dis
triet, abutting on the improvements
so made in said streets and alleys,
and the City Council has the right to
limit the number of bonds to be is
sued to the actual costs and expenses
OF the construction and completion of
said improvements made in said Lo-
cal Improvement District No. 8 so as
sessed and charged against said pro-
perty in said Improvement district.
Section 16. That every bond shall
provide that the principal sum therein
named and interest thereon shall be
payable out of the Local Improve
ment District Fund created for the
payment of the costs and expenses of
such improvement and not otherwise.
Section II. That said special as
sessment improvement bond herein
| provided for may be issued by the City
| to the contractor constructing the i'm
Iprovements in said Local Improve
ment District No. 8, in payment there
of for the costs and expenses OF SAID
improvement, or the Mayor and Coun-
| ell may sell and dispose of the same
at not less than their par value, net
and pay the proceeds thereof to the
contractor, or contractors construct
ing said improvements Such bonds
shall not be issued in amounts in ex-
cess Of the contract price or costs OF
the work or improvements, except that
the installment coupon shall include
the interest on such installment to the
maturity thereof The said bonds
shall be of the determination of Five
Hundred ($50000) Dollars. The sale
special assessment street improvement
bonds of Local Improvement District
No. s, being issued as herein provid-
ed, to pay for said street improve
ments, the cost of which improve
ments is charged by special assess
ments against the specific properly
included within the said Local I'M
provement District No. s, the Mayor
and Council shall levy special assess
ments each year against said property
included within said Local Improve.
ment District No. 8, sufficient to re.
deem the instalments of such bonds
next thereafter maturing, and In com
putting the amount of special assess
ment to be levied against each lot
piece or parcel of land liable there
for interest thereon at the rate o
Seven G. pei per cent per annum
from the date of issuance OF sale
bonds until the maturity of the in
stallments of bonds next thereafter
maturing shall be included. Such as
sessments shall be made upon the pro
perty chargeable for the costs of sucl
improvements respectively, and shall
be levied and collected in the same
manner as provided by the law an(
the Ordinances in this City for The
levying and collecting OF special as
sessments for such improvement where
no bonds are issued except as other
wise provided by this Ordinance. Tit
basis of such assessment whether upof
such assessed valuation frontage o.
otherwise liable for such costs shall b.
retained for the assessment of sue
ceeding installments of said bonds.
Section IS The owner Of any piece
of property in said Local improvement
District No. s, liable for any specia
assessment herein provided, may re
deem such property from such liabil
ity by paying the entire assessmen
chargeable against his property &C
cording to said assessment roll (upo1
the City Clerk, having published
printed notice in three 90 consecu
tive issues of the official weekly news
, paper which notice shall state tn
time for payment to begin and tn
time for payment to close, the las
| day of said notice to be not less tina
thirty 800 days, before the issuanc
, of the bondS) or after the issuance c