The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1917-03-29
ORDINANCE NO. 11s.

BLOCK, wallace, luano.
ORDINANCE NO. 116.
An ordinance confirming. ratifying
and approving all proceedings In re-
lation to the construction OF concrete
sidewalks and concrete curbs and i'm
proving of those portions or parts of
the streets In the City of Wallace,
Shoshone County, Idaho, included In
Local Improvement District No. 5, as
established by Ordinance No. 109 from
and including the adoption of ordin-
ance No. 108 declaring the intention
Of the. City Council Of said City to
improve said portions of the streets
Iup to the time Of the adoption of this
Ordinance, including the confirming,
ratification and approval of all con-
tracts, assessments, ordinances, reso-
buttons and all proceedings In any
wise in relation to such Improvement
providing for the payment of Eighteen
hundred five and 45-100 dollars
($1S0545) to the City of Wallace or
its order from moneys collected from
the owners of property within such
Local improvement District No 5 and
providing for the issuance of bonds
by the City of Wallace to the amount
of seven hundred sixty-six and 47-100
dollars ($766.47), the balance due the
said City of Wallace for such inn
provement and prescribing the form
of the bonds to be issued and direct
ing the City Treasurer to transfer
from moneys collected from property
owners in said district, the sum of
Ten hundred thrty-eight and 9S-100
($1038.9S) the amount already adj
vanced from the General Fund for
the benefit of property owners in con-
nection with the Improvement of said
District to the General Fund of said
City.
BE IT ORDAINED BY THE MAYOR
AND COUNCIL OF THE CITY OF
WALLACE:
Section /. That there be paid from
moneys collected from the property
owners and from Bonds to be issued
on account of Local Improvement
District No of the City of Wallace,
in Shoshone County, State of Idaho,
to the City Of Wallace, or it's order for
the improvement of the streets in
said Local Improvement District No.
| S, the City of Wallace having adj
vanced all moneys necessary to conn.,
plete the said improvement, on the
special fund collected by the City
Treasurer from the property owners
and from the sale of bonds of said
district, the sum of Eighteen hundred
FIVE and 45-100 dollars ($1S05,45), and
| that the City Treasurer transfer from
the moneys on hand collected by him
/ from the property owners in said
district the sum of Ten hundred thir-
| ty-eight and 9S-100 dollars ($103S.9S)
/ ha IN IA n
to the credit of said district, for and
on account TO advances heretofore
made by the City of Wallace for the
benefit of property owners in said Lo-
cal Improvement District No g. to the
! General Fund of said City.
Section g That there be issued by
the City of Wallace, to its order fol
the balance of seven hundred sixty
six and 47-100 dollars ($766.47) due
the said City for moneys advanced TO!
the construction of said improve
ments, ten (f0) bonds, five of which
shall be for the sum of one hundred
! dollars ($100.00) each aggregatine
five hundred dollars ($500.00), and five
of which shall be for the sum of ,fif-
ty-three and 29-100 dollars ($53.29)
each, aggregating two hundred sixty
six and 45-10O dollars ($266.45) max
ing a grand total aggregation of sev-
en- hundred sixty-six and 45-100 dol
lars ($766.45). That the said bonds
whose face value is the sum of one
hundred dollars ($10O.00) be number
ed one "a, three (3), five go, sever
| 90, nine COZ, and that the said bonds
:. issued for the amount of fifty-thret
and 29-100 dollars ($53.29) be num-
bered two ca. four ca, six (6), eight
go and ten (10).
That all of said bonds shall beal
date the thirteenth day of November
A. ID. 1916, the date on which said inn
provement was accepted by the City
Council of the said City, that bonds
numbered one and two shall be pay
able in one year from date; bonds
numbered three and four shall be
payable in two years from date: bonds
numbered five and six shall be pay
able in three years from date; bonds
numbered seven and eight shall be
payable in four years from date;
bonds numbered nine and ten shall
be payable in five years from date
That the said bonds bear interest al
the rate of seven per cent per annum
| from date until paid, said interest tC
be payable annually on the 18th day
of November In each year beginning
November 10, 1917: that there be at
tached to each bond interest coupons
| one coupon for each years interest
from the date of the bond up to the
maturity thereof, provided, however
that any one of said bonds may be re-
deemed at any time by paying the
principal thereof together with all in
terest coupons up to and including
the coupon first maturing thereafter.
That the said bonds and interest bear
ing coupons shall be signed by the
Mayor attested by the City Clerk and
countersigned by the City Treasurer;
| that the said bonds and interest there
on shall be payable at the Office of the
| City Treasurer in the City of Wallace,
Shoshone County, Idaho, and they
shall be registered by the City Treas
urer as required by law.
| That the said bonds shall be sub
Istantially in the following form, bear
/ ing dates of maturity and for the
amounts as hereinbefore specified, to-
wit:
NUMBER AMOUNT
UNITED STATES OF AMERICA
STATE OF IDAHO
COUNTY OF SHOSHONE
CITY OF WALLACE