Jerome County times. (Jerome, Idaho) 1919-1920, 1919-12-25
ORDINANCE No. 100
Continued from Pase ~

Continued from Paso ~
city 10 levy. extend and collect said
taxes in the manner provided 10y
law. for the purpose of creating
fund for the payment of the interest
upon and the principal of said bonds.
and the said taxes. when SO collected
shall be kept for and applied only 10
the payment Of said interest ana
principal of said bonds as hereinbe-
fore specific but nothing herein con
tanned shall be so construed rs TO
prevent said city from applying any
other funds that may be in its treas
ury and available for that purposc
10 the payment of said interest or
principal as the same respectively
mature. or TO prevent the investment
of such interest or sinking fund in
such manner us may be allowed by
law.
Section : That on the 18th day
Of December. 1919. and on the 18TH
DAYS o. June and December. respect
lively. in each year thereafter. and ON
the 18TH day Of August. \. d. 1919,
so long rs any OF the interest coupons
appertaining to the bonds hereby
authorized to be issued. remain out
standing and unpaid. the city treas
urer shall be he is hereby authorized.
ordered and directed TO remit by and
through the purchaser of said bonds
out of any money in his hands be-
longing TO S1iI city. in the form Of
check or draft payable in New York
City. L :. A. 10 the National Bank
OF Commerce, in the city and state
OF New York sum sufficient
to pay the semi-annual interest ac-
cruing on said bonds on the first days
OF January and July. respectively. in
each year and on the 18th day OF
August, A d. 1919. and any ana all
escrow charges made by said bank
for handling said coupons and on
the lst day OF August, \. n. 1919, the
said city treasurer shall be and is
hereby authorized. ordered and di-
rected. out of the sinking fund Great
ed under the provisions OF this Ordin-
ance. to remit by check or draft pay
able in New York. to the said Nation
al Bank of Commerce. a sum sufflci-
ent to pay the principal amount of
all Of said bonds. together with ac-
crued interest thereon TO May 3, A
D. 1889, and any and all escrow
charges made by said bank for hand
ling the same.
Section g That said bonds when
executed as and in the manner pro-
yided by this ordinance shall be and
they are hereby ordered delivered by
the city treasurer to the Lumbermens
Trust Company. who were and are
hereby declared TO be the highest and
best bidders thereof. at price not
less than their par value. together
with all accrued interest thereon to
date of delivery. upon payment OF
the agreed purchase price therefor.
and said treasurer sholl hold the
proceeds derived from the sale Of
said bonds subject TO the order of
the mayor and council of said city.
to be used solely for the purpose
Section 10 That the mayor and
council the city clerk and the city
treasurer. respectively, OF said city.
are hereby authorized. ordered. and
directed to furnish the aforesaid pur-
chaser Of said bonds with such GER
tificates. transcripts, ordinances or
other documents as will fully evil
dence the proceedings had relative TO
the issuance OF said bonds. the reg
ularity and sufficiently thereof and
the acts Of any one, either or all OF
said officers in the premises are here
by declared authorized. ratified. ap-
proved and confirmed.
Section II. That It be and Is here
by certified reclted and warranted
that all conditions. acts and things
necessary and essential to the valid
ity OF the bonds OF said city herein
above mentioned and required by law
to be done, have been fully done and
performed.
Section u. That the provisions OF
this ordinance and of each OF the
bonds and interest coupons issued
pursuant thereto, shall constitute
and the same are hereby declcred to
be a binding ;nd irrevocable con-
tract between said city and the pur-
chaser OF said bonds and the holder
from time to time OF each of said
bonds end the interest coupons there
to appertaining.
Section 13 That this ordinance
being necessary for the immediate
preservation of the peace. health and
safety of the inhabitants OF the city.
an emergency is hereby declared, and
said ordinance shall take effect and
be In force from and after it's pass
age, approval and due publication
and shall thereafter be irrepealable
until the Indebtedness hereby Great
ed, both as to principal and inter.
est, shall have been fully paid, salts
fed and discharged.
Passed: this 18th day Of Deem Der
A. D. 1919.
Approved: this 10Th day Of Deem
Der, A. D. 1919
ANDERS ANDERSON.
Attcgf. Movnr