The Kendrick gazette. [volume] (Kendrick, Idaho) 1892-1968, 1919-12-26
Minutes of Kendrick High
way District

OF THE BOARD OF HIGHWAY
COMMISSIONERS OF KENDRICK
HIGHWAY DISTRICT.
At q special meeting of the Board
of Highway Commissioners held in
the Kendrick Highway District on
the 18th day Of December. 1919, the
following resolution was duly
adopted by a unanimous vote of all
the Commissioners:
WHEREAS, it is necessary and
of advantage and benefit to the
Kendrick Highway District, in the
County of Latah, State of Idaho,
and to the inhabitants and residents
thereof, and to the tax payers there
in, that the Highways in the said
District be constructed, improved
and repaired and that the necessary
material and machinery for such
work and improvement be purchas-
ed by the Highway District. and
that the necessary expenses of the
| District IN connection Herewith
be provided, and
WHEREAS, there are no funds
available for the purposes aforesaid
and none can be provided except by
the issuance OF the bonds of the
said District, and it is necessary
that the cost of such improvements
and the purchase price of machin-
cry and material and the expenses
of the District in connection there
with be paid by the issuance of ne
gotiable coupon bonds of the said
District as herein provided, ard in
the amounts herein stated, and the
sum of $107, 900. 20 is requisite for
the purposes aforesaid; and
WHEREAS, the said Highway
District has no outstanding in
debtedness or obligations by war
rants, bonds or otherwise,
NOW, THEREFORE, BE 1T RE-
SOLVED AND ORDERED by the
Board of Commissioners of KENO
RICK HIGHWAY DISTRICT:
Sec. /. That a special election
be held in Kendrick Highway Dis
trict on the 10th day Of January,
1920, at which election there shall
be submitted to the qualified elect
ors of the Highway District the
question of authorizing the Board
Of Highway Commissioners of the
District to issue the negotiable
coupon bonds of said District in
the total principal sun of $107, 00O.-
90 as herein provided.
Sec. 2. That the object of the
issuance of the said bonds is to pay
the cost of construction, improve
ment and repair of the highways
within the District and to pay for
material and machinery necessary
therefor and pay the necessary and
incidental expenses of the Highway
District in connection Herewith.
Sec. 3. That the said bonds shall
be issued IN denominations of not
more than One Thousand $4,000 O0)
Dollars. and not less than One
Hundred ($l0O 10Y Dollars prin'
cipal, par value each, and shall be
made payable within twenty (20)
years from the date of issuance anC
r%edeemabIe at the option of the
District after the expiration of ter
years from the date of issuance; anC
the said bonds shall be redeemabIt
in the order in which they are mum
bered; that each bond shall have
semi-annual interest coupons attach
ed covering the interest on the sale
bond at a rate not exceeding six (6,
percent per annum from the dat
of issuance until paid; that sale
coupons shall be payable January
First and July First annually tina
such bonds shall be known a
"kendrick Highway Distric
Bonds" that each bond shall b.
signed by the President of tn
Board and attested by the Secretary
and bear the Seal Of the Distric
and be counterslgned by tn
Treasurer; that the interest coupon
attached shall bear the engraved O
Autographed facsimile signatur,
of the Treasurer; that each coupon
shall bear a number corresponding
with the number of the bond t
which it is attached; that sue
bonds shall be in all respects eX
ecuted and shall contain such rernt
ais as may be necessary to max
said bonds valid obligations of SAT-
Highway District. and that eacI
bond shall recite that it is issued b
virtue of and in conformity an com
pliance with the provisions of tn
constitution and all laws of tn
Ctato IF Idaho authorizipo Suc