The Bingham County news., 1921-05-06
ORDINANCE NO. 254.


AN ORDINANCE PROVIDING FOR
THE CONTRACTING OF AN IN
DEBTEDNESS BY THE CITY OF
BLACKFOOT, IDAHO, BY THE
ISSUANCE OF THE REMAINING
TWO HUNDRED THOUSAND
DOLLARS ($20O,OOO) MUNICH
PAL COUPON BONDS, OUT OF A
TOTAL AUTHORIZED ISSUE OF
THREE HUNDRED THOUSAND
DOLLARS ($3OO,0OO) TO PRO-
VIDE THE NECESSARY FUNDS
WITH WHICH TO COMPLETE
THE PURCHASE OF THE PRES
ENT WATER WORKS PLANT
AND SYSTEM AND TO EN-
LARGE, EXTEND, ALTER AND
IMPROVE THE SAME; PRE-
SCRIBING THE FORM AND DE-
TAIL OF THE ISSUANCE OF
SAID BONDS, AND PROVIDING
FOR THE LEVY OF A TAX SUF-
FICIENT TO PAY BOTH PRIN-
CIPAL AND INTEREST OF SAID
BONDS, PURSUANT TO THE,
PROVISIONS OF ORDINANCE NO.
249 OF SAID CITY OF BLACK
FOOT, AND THE AUTHORITY
OF THE ELECTION HELD ON
AUGUST 10TH, 1920.
WHEREAS, at a regular meeting
of the Mayor and City Council of the
City of Blackfoot, Idaho, duly held
on the 10th day of March, 1921, bids
for the purchase of the remaining
$200,00O.00 Water Works Bonds, as
specified in Ordinance No. 249 were
received and considered by said City
COUNCIL and it appearing that the
bid of G.. H. Malan for the purchase
of said remaining $200,000.00 out
of a total authorized issue of $780,
100000 Water Works Bonds, was the
highest, best and most advantageous
bid received for said S200,000.00
Bonds, which bid was by resolution,
then duly accepted by said City
Council and said bonds ordered to be
delivered to said G. H. Malan upon
payment of the purchase price there
for, to-wit, their par value, ($200,-
000) and accrued interest from date
of bonds to date of delivery.
NOW, THEREFORE, BE IT OR
DAINED, by the Mayor and City
Council of the City OF Blackfoot,
Idaho:-
Section 1. That for the purpose
of raising funds to provide for the
completion of the purchase of the
presen waterwOrks plant and system
of said City of Blackfoot, and to en-
large, extend, repair, alter and i'm
prove such plant, the City of Black
foot, shall issue its negotiable coupon
bonds in uhe aggregate remaining
amount of $200,000.o0 out of total
authorized issue of $300,000.00. Said
bonds shall be denominated water
works Bonds, Series of 1921" shall
consist of Two Hundred bonds, of the
denomination of One Thousand Dol
lars ($1,00O) each, numbered from
101 to 800 both inclusive; shall be
dated January /, 1921, and become
absolutely due and payable January
l, 1941; but said City of Blackfoot
shall, and hereby expressly does re-
serve the right and option of paying
or redeeming any or all of said bonds
on or after the first day of January,
1881, on any interest bearing date;
said bonds shall bear interest at the
rate of six per cent &C per cent? per
annum, payable semi annually on the
first days of January and July in
each year; and said bonds must be
redeemed according to their cOnsecu-
tive number, after due publication
of notice of call of said bonds as
hereinafter specified, but the same
need not be redeemed prior to alb
sOlute maturity date. Said bonds
shall have attached thereto coupons
to evidence the interest falling due
as aforesaid and each of said coupons
must be designated by the number
Of the bond to which it is annexed
and the coupons attached to each
bond shall be numbered consecutive
ly, beginning with number one %.
Said bonds shall be signed by the
Mayor, attached by the City Clerk,
under the corporate seal of said City
and countersigned by the City Treas
urer of said city. The coupons at
tached to the respective bonds, shall
bear the Autographed or engraved
facsimile signature of the City
Treasurer, which signature is here
with adopted for and on behalf of
said City of Blackfoot and shall be
engraved upon said coupons.
Section 2. Said bonds and the
coupons attached shall be in sub
stantially the following form, to-wit
UNITED safes OF AMERICA
COUNTY OF BINGHAM
CITY OF BLACKFOOT