The Emmett index. [volume] (Emmett, Idaho) 1893-1925, 1919-09-04

municipal coupon bond No.................
City Treasurer,
Section7. In case the issuance Of
| said bonds shall be approved by the
electors of the City OF Emmett, Ida
40, then the interest falling due on
said bonds on January /, 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
| IF interest and to meet the interest
maturing on said bonds on January l,
1921, and July /, 1921, there shall be
levied in the year 1920 on all the tax
able property in said city and in addi-
Ion 10 all other taxes a direct annual
sax 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
Y and as the same accrues there shall
ne levied on all of the taxable proper
ty in said city in addition to all other
taxes 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 toll
pay interest due after October l, 1929,
promptly and as the same accrues and
to create a sinking fund for the pay
ment of the principal of said bonds,
there shall be levied on all taxable |
property 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 /,
1880, to October /, 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
the purpose of paying the interest and
principal of said bonds respectively
and for no other purpose whatever
until the Indebtedness so contracted
under this ordinance principal and in
5erest shall have been fully paid, sat-
sfied 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
hereof with reference to the levying !
If taxes and requiring the officers of ,
md for said city to levy, expend and !
collect such taxes in the manner pro- ;
,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 7
ected shall be kept for and applied
My to the payment of such interest
md principal of said bonds as herein
'efore specified, but nothing herein
hall be so construed as to prevent
aid city from applying any other
unds 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-
d for may thereupon to that extent i,
e diminished and upon the payment =
f the principal of any of the bonds
ssued hereunder in said manner or a
Y the use of the sinking fund herein .
rovided for, the levy or levies herein :
rovided for covering the payment of :,
interest may to the extent of the q
interest of the bonds SO paid be di- y
finished. >
Section 8. This ordinance shall take :,
feet and be in force from and after Y
8 passage, approval and due publ 3
alton, and shall be irredeemahle until ?
ne Indebtedness hereby created shall y
ave been fully paid and satisfied. !. -
Passed and approved this 9th day =, y,
t August, 1919. a. a.
], C. ALLMON, :. ~
(SeaD Mayor. -
Attest; D. NJ. SToKESBERY, p'
City Clerk ~