Payette enterprise. (Payette, Canyon Co., Idaho) 1909-1935, 1921-09-15
ORDINANCE NO, 351
By Councilman Sherwood

PROVEMENT DISTRICT NO. s
OF THE CITY OF PAYETTE,
IDAHO, IN AN AMOUNT NOT
EXCEEDING THIRTY THREE
THOUSAND TWO HUNDRED
DOLLARS, FOR THE PURPOSE
OF PAYING THE COST OF GRAD
ING, PAVING AND SURFACE
DRAINING CERTAIN STREETS
AND AVENUES, AND PARTS OF
STREETS AND AVENUES, OF
SAID DISTRICT AND PROVID-
ING FOR THE PAYMENT THERE
OF BY LEVYING A SPECIAL AS
SESSMENT AGAINST THE Adult
AND PROXIMATE PROPERTY
IN SAID DISTRICT LIABLE TO
ASSESSMENT FOR SUCH I'M
PROVEMENT.
WHEREAS, The Mayor and Coun-
Gil of the City Of Payette, Idaho,
have heretofore, under the authority
vested in them by the laws OF the
State of Idaho, caused the streets
and avenues in Local improvement
District No. of said City to be i'm
proved;
AND, WHEREAS, for the purpose
of paying the cost and expense OF
which is chargeable and has been as
sessed to the abutting, adjoining,
contiguous or proximate property in
said Local Improvement District No.
5 of the City of Payette, Idaho, the
Mayor and Council have in their dis
erection heretofore provided for the
payment of the cost and expenses
. h,y 70 ,nC nf
levying the entire tax of special as
sessments for such costs at one time;
NOW, THEREFORE, BE 1T OR
DAMNED BY THE MAYOR AND
COUNCIL OF THE CITY OF PAY
ETTE, IDAHO, AS FOLLOWS:
Section 1. That for the aforesaid
installments therein to be issued in
the name of the City of Payette. Ida
no, improvement bonds of Local
Improvement District No. 5, which
shall include the adjoining, contigu-
Gus and proximate property liable to
assessment for such Local Improve
ments, payable in installments Of
equal amount each year, which bonds
shall by their terms be made payable
on or before date not to exceed ten
years from and after the date of the
issue of such bonds, to-wit: on or
before the first, day of November,
1881, which said bonds shall bear
interest at the rate of seven percent
per annum, payable semi-annually,
on the first days of January and
July in each year, which said bonds
shall be issued in an amount not to
exceed the sum of S33200.00; the
of 20 ho
determined at the time of the issu-
ance thereof, it being the express in
tent hereof to only authorize bonds
in an amount not to exceed such
sum as may be legally issued at the
time provided by law for the issuance
thereof.
Section 2. Said bonds shall be
known and designated as "City of
Payette Local Improvement District
No. 5 Improvement Bonds and shal!
not be issued in excess of the con-
tract price and the expense of such
improvement, including engineering
and other clerical services advertis-
ing, cost of inspection, cost of col
Letting assessments and interest up
on warrants, if issued, and the in
stallment coupon, shall include in
.erest to the maturity thereof.
Section 8. Said bonds shall be
Of the following denominations:
twenty-five of said bonds of said |
ssue shall be in the denomination of |
Twenty of said bonds of said issue
shall be in the denomination of
Twelve of said bonds of said issue
hall be of the denomination of
hat is, if the full amount hereinbe-
ore authorized is issued; provided
However, that if the full amount be
lot issued the bonds of 100000
denomination shall be corresponding
y reduced
Section 4. Said bonds shall be
ated the first day of November,
921, and shall be payable on or be-
ore the first day of November, 1881,
nd shall bear interest at seven per
ent per annum from the date there
I, payable semi-annually on the
lrst days of January and July of :
ach year, both principal and inter-
st to be payable in gold coin of the
nited States of the present standard
value, at the office of the City
treasurer of the City of Payette, Ida
o, or at the Chase National Bank in
ne City and State of New York.
Section 5. Such bonds shall be n
from one upwards and !
lch bond and coupon shall be sign a
! by the Mayor, countersigned by +
Re City Treasurer, and attested by G
lie Clerk of the City of Payette, Y
iaho; provided, however, that such =
'upons may in lieu of being signed
ave printed thereon the facsimile of
Ie signature of said officers, and
Ich bond shall have the seal of
lch City affixed thereto, and shall
'fer to the Improvement District
r the payment of which the same
all be issued. Each bond shall pro-
de that the principal sum therein
lmed, and the interest thereon shall
payable out of the Local Improve
ent fund created for the payment
the cost and expense of such i'm
oyement, and not otherwise.
Section 6. Said bonds and cou-
ms shall be substantially in the fol-
wing form:
lmber ............... 100000