Payette enterprise. (Payette, Canyon Co., Idaho) 1909-1935, 1918-07-18
Ordinance 2o8

AN ORDINANCE DECLARING
DUE ADVERTISEMENT AND
SALE OF $4,000 MUNICIPAL
IS PER CENT FUNDING BONDS.
OF AND By THE CITY OF
PAYETTE, IN THE COUNTY
OF ETTE, IN THE STATE
OF IDAHO, TO KELLER
BROTHERS, DENVER, COLO
RADIO, AS THE HIGHEST AND
BEST BIDDERS THEREFOR;
AND PROVIDING FOR THE
ISSUANCE, EXECUTION AND
DELIVERY OF SAID BONDS
TO SAID PURCHASERS; De
CLEARING AN EMERGENCY
WHEREBY THIS ORDINANCE
SHALL TAKE EFFECT AND
BE IN FORCE FROM AND
AFTER IT'S PASSAGE, APP
PROVAL, AND DUE PUBLICA-
.TION: AND PROVIDING THAT
THE SAME SHALL THERE
AFTER BE IRREPEALABLE
UNTIL THE INDEBTEDNESS
REPRESENTED BY THE SAID
BONDS, BOTH AS TO PRINCE
PAL AND INTEREST, SHALL
HAVE BEEN FULLY PAID,
SATISFIED AND DISCHARG-
ED.
WHEREAS, In accordinance
with Ordinance No. 297 Of said
city passed and approved June 7,
a, D. 1913, and thereafter duly
published, notice of proposal to
issue and sell $4,000 Municipal
Coupon Funding Bonds OF and BY
the Cit, of Payette in the County
of Payette, in the State of Idaho,
and inviting bids therefor, was
duly published once each week
for a period OF five (5) consecutive
calendar weeks in The Payette
Enterprise, weekly newspaper
printed, published and of general
circulation in Payette, Idaho, and
being the official newspaper of
said city in the issues thereof of
June Is, June 20, June q, July 4,
Julyl1, 1918, and evidence of such
publishing has been furnished toI
the Mayor and Council OF said city
in the form Of publishers affida-
Wit; and
WHEREAS, The municipal
coupon funding bonds hereinbe-
fore and hereinafter mentioned
have this day, pursuant to the add
vertised mott, e of sale aforesaid, by
the city treasurer, under the gen
eral supervision of the Mayor and
this council, been duly awarded
and sold bearing six (6) per cent
interest, to Keller Brothers, Den
yer, Colorado, who were the high
est and best bidders therefor. at a
price exceeding the par value Of
said bonds, together with all &C.
crued interest thereon to date Of
delivery; Now, Therefore, in con-
sideration of the premises,
BE 1T ORDERED BY THE!
MAYOR AND COUNCIL OF
THE CITY OF PAYETTf, IN
THE COUNTY OF .PAYETTE,
IN THE STATE OF IDAHO;
Section 1. 1t appears to the
Mayor and Council of said city
that it would be and it is hereby
deemed advisable to issue;
Municipal Coupon Funding
Bonds of the City OF Payette, III
the County of Payette, in the
State of Idaho, to an amount ag-
the principal sum OF
Fifty-one thousand d o ! ar s |
1851 ,0OO), comprised Of, 81 bonds,
consecutively from l to |
81, both numbers inclusive, of the
denomination of 81 900 each, dateA
January 1, A D. 1918, absolutely |
due and payable January l, 1888,
in numerical order, on
or after January l, A. D.. 1928, at
the option of said City, bearing
interest from their date until pal d |
at tine rate OF (O) per cehUunl per
annum, payable semi-annually on
the first days of January and July, |
respectively, in each year, both
thereof and interest
thereon payable at the National
Bank of Commerce, in the city
and state of New York, U. S. A.
to provide for the funding, pur,
chasing and redemption OF a like
amount of the legal outstanding
of said city, Incurred
by the ordinary and necessary
expenses of the city and evidenced
certain warrants described in Or
finances No. 297.
Section 2. That said bonds
when executed as and in the man
ner provided by Ordinance No.
297 OF said city, shall be and they