The Emmett index. [volume] (Emmett, Idaho) 1893-1925, 1919-09-18

City Treasurer
Section7. In case the issuance OF
said bonds shall be approved by the
electors Of the City of Emmett, Ida
no, then the interest falling due on
said bonds on January 1, 1920, and on
July /, 1920, shall be paid out of the
general fund of said city and for the
purpose Of reimbursing said general
fund for said semi-annual installments
Of interest and to meet the interest
maturing on said bonds on January /,
1921, and July |, 1921, there shall be
levied in the year 1920 on all the tax
able property in said city and in addi-
ton to all other taxes direct annual
tax sufficient to reimburse the general
fund as aforesaid and to meet the in
stallments of interest due on said
bonds in the year 1921 and to pay the
interest due after July /, 1921 prompt
ly and as the same accrues there shall
be levied on all of the taxable proper
ty in said city in addition to all other
taxes a direct annual tax in each of
the years 1921 to 1928 inclusive suf-
ficient to produce the sum necessary
to pay said interest, and in order to
raise necessary funds with which to
pay interest due after November 1,
1929, promptly and as the same accrues
and to create sinking fund for the
payment of the principal of said bonds,
there shall be levied on all taxable
in said city in addition to all
other taxes direct annual tax in
each Of the years 1929 to 1888 inclus-
i've sufficient to produce the interest
to become due on the outstanding
bonds of this series from January 1,
1890, to November l 1889 inclusive and
in the years 1929 to 1888 inclusive
sufficient also to produce annually
the sum of two thousand dollars
$200000) or as much as is required to
apply on the payment of the princi-
pal of said bonds, and said taxes when
SO collected shall be applied solely for
.he purpose of paying the interest and
principal of said bonds respectively
and for no other purpose whatever
until the indebtedness so contracted
Inder this ordinance principal and in
crest shall have been fully paid, sat
SIZED and discharged.
Section 8. 1t shall be the duty of |
he City Council of said city and it is |
hereby required annually at the time
md in the manner provided by law |
or the levying of their city taxes
o levy and carry out the provisions
Iereof with reference to the levying
# taxes and requiring the officers of
md for said city to levy, expend and
ided by law for the purpose of Great
ng a fund for the payment of the
interest upon and the principal of said
onds, and the said taxes when so col
scted shall be kept for and applied
My to the payment of such interest
nd principal of said bonds as herein
efore specified, but nothing herein
hall be so construed as to prevent
aid city from applying any other
lnds that may be in the city treasury
nd available for that purpose to the
ayment of said interest and princi-
al as the same respectively mature,
nd the levy and levies herein provid-
! for may thereupon to that extent
E diminished and upon the payment
the principal of any of the bonds
sued hereunder in said manner or
y the use of the sinking fund herein
rovided for, the levy or levies herein
rovided for covering the payment of
Iterest may to the extent of the
terest Of the bonds so paid be di-
inished.
Section 9. This ordinance shall take
feet and be in force from and after
; passage, approval and due publ
Ition. and shall be irredeemable until
% indebtedness hereby created shall
i've been fully paid and satisfied.
'hereas, this ordinance is intended
A substitute for Ordinance No. POP
'retofore passed on the 26th day of
ugust. 1919, and no Indebtedness has
EN- created under said Ordinance No.
2, said Ordinance No. 202 be and the
me is in all respects repealed.
Passed and approved this 18th day
September, 1919
J. C. ALLMON,
tSeaD Mayor