Payette enterprise. (Payette, Canyon Co., Idaho) 1909-1935, 1921-08-11

1NaAOg may III LlE4E ul5gL1-AJE DA
vide for the payment of the z
penses Of making the Improvement
herein ordered in installments b.
the issuing OF Improvement bonds
Of said District said iHstalImenL5 be-
ing in equal annual payments at -os
70 exceed ~ per anHum iutere
and to be payable on or before 10
years from the date Of issue
Such bonds shall not be issued in
any amount in excess Of the con-
tract price OF the proposed fmDror-
( ments, except that the instaIIment
coupon shall include interest or
such installments 10 the maturity
thereof. Such bonds may, a. the
discretion OF the Mayor and Couu-
ell Of the City OF Payetls, be issued
TO the contractor Who shall con
struct the proposed improvement or
be sold at not less than their par
value net, and the broceeds there's
to be paid to the contractor
The bonds shall be in such de-
nominations as the Mayor and Com
ell Of said City shall deem proper.
For the payment OF iHsraImeut-
on such bonds the Mayor and Coun-
ell Of said City OF Paysrrs are hereby
empowered and they shall levy an
nuaI special assessments against the
specific property admitting, cOntgu-
GUS and tributary 10 the proposed
improvements hereinbefore provided
for, and in proportion 70 the bene-
fits derived, sufficient 10 redeem the
instaIImeuts OF such bonds next
thereafter maturing. with interest
thereon not TO exceed 7c. per an
mum from date Of the issuance os
such bonds until the date Of the in
stsIimeut next thereafter maturing.
SECTION S. The owner Of any
piece Of property liable for any such
special assessment chareeabIn
against his property may redeem his
property from such liability by pay
ing the entire assessment charge
able against his property, upon the
City Clerk OF said City having pub
lished a printed notice IN the Off
eiaI Newspaper of the said City for
ten consecutive days or three con
seeutive weekly issues before the
issuance OF such bonds, which notice
shall state the time for payment to
begin, and the time for payment to
close, the last day OF said notice TO
be not less than thtrtE days before
the issuance ofs uch bonds. or after
the issuance Of the bonds By paying
all the instaIlmeuts OF the assess
nents which have been levied and
also the amount Of the uuIs7ied in
stallments, with the interest on the
latter at the rate provided in said
bonds from the date Of the issuance
Of said bonds to the time Of maturi-
~ OF the last installment. All such
assessments shall be paid to the
proper officers Of said City, as pro-
yided BY law
The funds arising from all assess
ments levied for the redemption OF
said bonds shall be applied sols,-
toward the payment of the costs
and expenses Of such improvement
and the redemption Of said bonds
ssued therefor.
SECTION g. The bonds herein
provided for shall have printed
thereon, among other things. sub
'tantiaIIy the following
The holder OF this bond shan
lave no claim against the City Of
7ayette. Idaho. in any event. except
or the collection Of the special as
essment made for the improvement
or which the same was issued. but
lis remedy. in case Of nonpayment.
hall be confined to the enforce
nent OF such assessments
SECTION 10. The procedure for
out the provisions Of this
ordinance shall be governed By the
PROVISIONS Of the laws Of the stat
4 Idaho relating TO the powers Of
titles, villages and municipal cor
.orations.
Passed by the Council Of the CITY
t Payette, Idaho. this 9Th day o.
august, \. D. 1921
Approved by the Mayor Of the City
I Payette. Idaho, this 9Th day o.
August. 4. D. 1921.
c. 4 SMITH.
Pres OF Council.
.ttest: