Bonners Ferry herald. [volume] (Bonners Ferry, Idaho) 1904-current, 1919-04-22
o.,a ara cnursv taxes exclusively.


each year shall be one of each annual
installment with interest thereon, To-
gether with the interest on all install
ments thereafter to become due, ana
the whole to be collected as a separ-
ate special tax in the manner provided
by law and this Ordinance for the col
lection of such assessments where no
bonds are issued.
SECTION 10. That for the purpose
of providing for the payment OF the
cost and expenses OF said street ana
alley improvements made In said Local
Improvement District No. 3 as above
described wherein the costs and ex-
penses of said improvements are
charged to the lots, pieces or parcels
of land fronting or abutting on said
portions of said streets or alley I'M
proved, contiguous or tributary there
to, and included in said improvement
District No. 3 which improvement
bonds shall be issued in the name OIL
the Village of Boomers Ferry and shall
be known and designated as Special
Assessment Street Improvement Bonds
of Local Improvement District No. 3.
SECTION a. That said Local I'M
provement District No. bond shall
be payable on or before ten (lO) years
from date thereof, and shall bear in
terest at the rate not to exceed seven
G. per cent? per cent per annum which
said interest shall be payable annually
at the office of the Village Treasurer
at Boomers Ferry, Idaho. Said bond
shall be issued in denomination or
Five Hundred ($50000) Dollars each
and shall be numbered from one az
upwards consecutively, and each bond
and coupon shall be signed by the
Chairman of said Village Board of
Trustees and attested by the Village
Clerk. Each of said bonds so issued
to be one of series of bonds issued
to pay the cost and expenses of the
street and alley improvements made in
said Local Improvement District No.
3, and assessed and charged against
the lots, pieces or parcels of land in
said district, abutting, fronting, con-
tiguous and tributary to the improve
ments so made in said street and al
ley, and the Village Board of Trustees
has the right to limit the number of
bonds to be issued to the actual costs
and expenses of the construction and
completion of the said improvements
made in said Local Improvement Dis
trict No. 3 so assessed and charged
against said property in said improve
ment district.
SECTION 10. That every bond shall
provide that the principal sum therein
named and interest thereon shall be
payable out of the Local Improvement
District Fund created for the payment
of the costs and expenses of such i'm.
provement and not otherwise.
SECTION 16. That said special as.
sessment improvement bond hereir
provided for may be issued by the
| Village to the Contractor constructing
the improvements in said Local I'm
provement District No. g. in payment
thereof for the costs and expenses o.
said Improvement, or the Chairman
and the Village Board of Trustees
may sell and dispose of the same al
not less than their par value, net ant
pay the proceeds thereof to the con
tractor, or contractors, constructing
said improvements. Such bonds shall
not be issued in amounts in. excess o.
the contract price or cost of the worl
or improvements, except that the in
stallment coupon shall include the in
/ tCi COT Oh ouOh ihobdiihiClL W luC iiid
turity thereof. The said bonds shall
be of the denomination of Five Hun
dred ($500.00) Dollars. The sait
special assessment street improvement
bonds of Local. Improvement Distric
No 3, being issued as herein provided
to pay for said street improvements
the cost of which improvement II
charged by special assessments agains
the special property included within
the said Local Improvement Distric
No. 8, the Chairman and the Villag,
Board of Trustees shall levy specia
assessments each year against salt
property included within said Loca
Improvement District No. 8 sufficien
to redeem the installments of sucl
bonds next thereafter maturing, anC
in computing the amount of special as
sessment to be levied against each lot
piece or parcel of land liable thereo
interest thereon at rate not to exceed
seven & per cent? per cent per annun
from the date of issuance of said bonds
until the maturity of the installments
of bonds net thereafter maturing shall
be included. Such assessments shall
be made upon the property chargeabl'
for the costs of such improvement.
respectively, and shall be levied anC
collected in the same manner as pro
vided by the law and the Ordinances
in this Village for the levying and col
lection of special assessments for such
improvement where no bonds are is
sued, except as otherwise provided by
this Ordinance. The basis of such as.
sessment whether upon such assessed
valuation frontage or otherwise liable
for such costs, shall be retained fol-
the assessment of succeeding install.
ments of said bonds.
SECTION II. The owner of any
piece of property in said Local I'm
provement District No. 3, liable for any
special assessment herein provided
may redeem such property from such
liability by paying the entire assess
ment chargeable against his property
according to said assessment roll (up-
on the Village Clerk having published
printed notice in three CD consecu-
tive issues of the official weekly news
paper, which notice shall state the
time for payment to begin and the
time for payment to close, the last
day of said notice to be not less than
thirty 500 days before the issuance
n he A~N