Montpelier examiner. [volume] (Montpelier, Idaho) 1895-1937, 1920-04-16

An Ordinance Of the City Of Mont
pelier, Idaho. Ratifying and Com
firning tho Proceedings With Ref
erence to tho Issuance of SIS, $780,
90 Park and Street Bonds; Au-
thOrizing the Sale Thereof; Pre-
scribing tho Form of Bonds to be
Issued and the Form of Coupons
to BIO Attached Thereto; and Levy
ing an AID Valorem Tax for the
Payment of the Principal and I'M
terest Of said Bonds.
Whereas, at an election duly call
ed and held in the City of Montpel-
Ter, idaho, on the 9Th day of Janu-
AIRY, 1920, pursuant to Ordinance No.
1872, of said city, and after due no
tice OF said election had been given
for the time and in the manner re-
Quired by law. there was authorized
to be issued municipal coupon bonds
of said city to an amount of $751;
10000 to provide money with which
to widen and lay out South Tenth
Street in said city and to purchase
a park site in Block 16 of Burgoyne
Addition to the City of Montpelier
and also to purchase a park site in
Block of Bagley's Extension of said
city; and
Whereas, on the 18th day of Jan
uary, 1920, by resolution duly adopt
ed, the said City of Montpelier, by
and through its Mayor and City
Council declared its intention to is
sue and negotiate said bonds of said
city for the amounts voted for at
said election, and notice of said in
tention to negotiate said bonds and
reception of bids for the purchase
thereof has been duly and regularly
published in form and manner pre-
scribed by law; and
Whereas, at the time specified In
said notice, bids were duly received
and the best bid therefor has been
determined to be the bid of Drake
Ballard Company;
Now. Therefore, Be It Ordained by
the Mayor and City Council OF the
City OF Montpelier, Idaho:
Section /. That all acts, matters
and things pertaining to the issuance
of bonds herein referred to be, and
the same are hereby approved, rati-
fled and confirmed.
Section q. That for the purposes
OF the widening and laying out OF
South Tenth Street in said city; for
acquiring a municipal park site in
Block 16 of Burgoyne Addition to
the City of Montpelier, and also for
acquiring a municipal park site In
Block 2 of Bagley's Extension of said
city, there are hereby authorized to
be issued seven municipal coupon
bonds Of 100000 each for the first
purpose above mentioned: six NUM-
cipal coupon bonds of 100000 each
for the second purpose above men
toned. and five municipal coupon
bonds of 81 10000 each and one OF
$4,000 FOR the third purpose thus
mentioned, or an aggregate bond is
sue OF $1S,60O.0O, all of which said
bonds shall be dated March 1st,
1920. and payable on the 1st day
OF March, 1910, redeemabIe at the
option OF the City or Montpelier
Idaho, at any time after the expira-
tion OF ten years from their date in
their numerical order and beginning
with the lowest number, both prin-
cipal and interest of said bonds to be
made and payable at the office of
the City Treasurer in the City OF
Montpelier, Idaho, or at the Liberty
National Bank in the City OF New
York, State Of New York, at the oD-
tion OF the holder. Said bonds shall
bear interest at the rate OF six per
cent per annum, payable semi-an-
nually and are hereby sold to Drake
Ballard Company as per bid duly
submitted.
Section g. Said bonds and con-
pons shall be substantially In the fol
lowing form:
UNITED STATES OF AMERICA
STATE OF IDAHO.
COUNTY OF BEAR LAKE
City of Montpelier.
Street Cor Park Bond.
Mo- s.
KNOW ALL MEN BY THESE
PRESENTS: That the City OF Mont
pelter, County OF Bear Lake, State OF
Idaho. Acknowledges itself indebted
and for value received, hereby prom
ises to pay to---~.---..-----.----.or bearer,
the sum of $.-------- on the first
day of March. 1910. or at the option
OF the City on the first day OF March
1890, or ON any interest payment
date thereafter, with interest on said
sum at the rate Of per cent per an
mum, interest payable semi-annualIy
on the first days Of July and jan
uarv OF each year, upon presentation