Montpelier examiner. [volume] (Montpelier, Idaho) 1895-1937, 1920-12-03

= q
MONTPELIER, IDAHO, AS ES-
TABLISHED BY ORDINANCE
NO. 1876. PASSED AND APPROX
ED ON THE 4th DAY OF MARCH
1920. PROVIDING FOR THE
PAYMENT OF THE COSTS AND
EXPENSES OF THE IMPROVE
MENTs TO BE MADE THEREIN
IN TEN EQUAL INSTALLMENTS.
PROVIDING FOR THE ISSU-
ANCE IN THE NAME OF THE
CITY OF MONTPELIER, IDAHO
OF SPECIAL IMPROVEMENT
BONDS OF SAID LOCAL I'M
PROVEMENT DISTRICT NO. 2
IN THE AGGREGATE AMOUNT
OF NOT TO EXCEED $145, 100000 |
TO BEAR DATE OF MAY 1st.I
1920 PAYABLE IN INSTALL
MENTS OF EQUAL AMOUNTS
EACH YEAR WITH INTEREST
THEREON AT THE RATE OF
SEVEN PER CENTUM PER AN
NUN. PAYABLE SEMI-ANNU-
ALLY.
WHEREAS, under provisions Of
Article s OF Chapter 1853 OF the Ida
no Compiled Statutes of 1919, the
Mayor and council may in their dis
lretion provide for the payment OF
| he costs and expenses OF improve
nents in local improvement districts
| ~ installments, instead of levying
| he entire tax by special assessments
or the costs of such improvements
| at-one time and for such install
| nents, may issue in the name of the
| ,ity, special improvement bonds or
II laid district, payable in instruments
| If equal amount each year, with in
crest thereon, and
WHEREAS, tho Mayor and City
Council of the City Of Montpelier,
IDAHO, have determined, and do here
W determine that the payment of
he costs and expenses of the i'm
1rovements to be made in the Loo
Il Improvement District No. 2" OF
said city, shall be made in equal an
lal installments and for such in
| stallments to issue improvement
bonds of said district in the aggre-
| rate amount not to exceed $145 900
90 to bear date of the first day of
May 1920, which bonds shall be due
md payable on or before ten years
from date thereof and shall bear in
crest at the rate of seven per cen
.um per annum, payable semi-annu-
lily on the LIST day OF January and
he 1st day of July, Of each year
NOW, THEREFORE,, BE 1T OR
DAMNED BY THE MAYOR AND
CITY COUNCIL of Montpelier, Bear
, Lake county, Idaho:
Section 1. That all acts, matters
md things relating to the creation
ind establishment of Local I'm
E 1rovement District No. Q" in Mont.
lelier, Bear Lake County, Idaho, as
treated by Ordinance 1856, passed
md approved on the 4th day of Mar.
III, 1920, be and the same are here
BY ratified, confirmed and approved
Section q. That all deferred pay
\ ments of costs and expenses for tht
+ improvements done in said distric
!, which arc properly assessed agains
j he property therein be and said def
erred payments are hereby divided
9 nto ten equal installments to b.
payable annually thereafter.
Section 3. That for tho paymen
: # the improvements made in SAT-
6 ocal improvement district Their
y lhall be and there is hereby authori
G ed to be issued in the name of tn
e City of Montpelier, Bear Lake Coun
+ ", Idaho, local improvement bond
u IT said Local Improvement Dis
trict No. 2" in the aggregate amour
= II not to exceed $145,000.00.
Section 4. That each Of said bond
hall be numerically numbered an
= designated az Local improvement
Bonds, District No. Two" and shal
bear date as of the first day Of Ma
1920 and shall be in denomination
# One Thousand Dollars each, prC
-ided however, that one or NOR
bonds in the fractional amount c
% said amount as circumstances ma
20 'equire to give the total amount {
~ he assessments in said district, ma
% 70 issued, shall bear interest at th
: rate of seven per centum per annun
nns payable semi-annually on the fri
lay of January and the first day (
Z, July of each year, which said int
eeI est shall be evidenced by proper COZ
: oons attached to each bond and bot
principal and interest on said bon
shall be payable at the office Of IL
90 City Treasurer, Montpelier Bes
s lake County Idaho or at the Kount;
AZ Bros in the City and State of Ne
20 York at the option of the hold,
~ IF said bonds. Said bonds shall
signed by tho Mayor and counte
signed by the City Treasurer and a
- tested by tho City Clerk, and eat
"a bond shall have the seal of the CT
ds lffixed thereto and the coupons q
rs ached to each bond evidencing Il
10 interest accruing thereon, shall,
"a leu of being signed have thereon Il
u Tao smile signatures of said May
n Treasurer and Clerk; and such bon
~ shall be numbered from one upwa
- sonsecutively. and shall mature al
~ be payable in numerical order
~ here shall be sufficient money
nd the local improvement fund again
20 which these bonds are to be issu
10 pay the principal Of one or mo
-, bonds.
nd Section 8, Said bonds and CO
~, pons thereto attached shall be 50
stantially In the following for
Itowit: