Bonners Ferry herald. [volume] (Bonners Ferry, Idaho) 1904-current, 1921-04-28

ners Ferry, Idaho, the amount
of the annual tax to be levied in each
year to be sufficient in amount to pay
in full the amount of the interest ac-
cruing upon all of the bonds of said
bond issue during said year within
which said tax shall be levied and until
the first day of May Of the next fol
lowing year, as specified above; and
all such taxes shall be levied, assessed
and collected as other municipal taxes
until the bonds above referred to shall
have been fully paid, including all in
terest thereon
Section 2: The Chairman and Board
of Trustees of the Village of Bonners
Ferry Idaho, shall, in the tenth year
preceding the year of the ultimate ma
turity of said bonds, according to their
terms, and in each year thereafter for
the ensuing nine years, until the ulti-
mate maturity of all of the bonds of
said bond issue, and until all of the
principal of all of said bonds shall be
fully paid, levy annually, at the time
and in the manner required by the law
of the State of Idaho, in addition to
all other authorized taxes, an addi-
tional sum of Fifteen Hundred Dollars
($1,500.00). which said ten annual tax
levies of Fifteen Hundred Dollars ($1,
100000 each. when collected in the
manner required by law shall be paid
into and kept in a special fund of said
Village described as the Sinking Fund
of Fifteen Thousand Dollars ($15,-
100000 Municipal Public Building
Bond Issue of 1921" and it shall
be the duty, and it is hereby en-
Joined as the duty of the proper Viii
lage officials, to pay into and keep in
said sinking fund, which is hereby
constituted and created. all of said
moneys for the payment of the prin-
cipal of all of said bonds of said bond
issue. according to their terms; and
all such taxes shall be levied, assessed
and collected as other municipal taxes
until the bonds above referred to shall
have been fully paid.
Section 8 In the event that the
taxes for the payment of interest on
any of said bonds shall not be levied
or collected in time to meet such pay
ments of interest, at their maturity, or
maturities, such payments of interest
shall be made out of any moneys in
the municipal general or expense fund
as provided by law.
Section 4: The faith and credit and
all taxable property within the Village
of Boomers Ferry, Idaho, are. and shall
continue, pledged, and the Mayor and
Board of Trustees and all other au-
thorized officials of the Village of Bon
ners Ferry, Idaho, must assess and
collect and must continue to assess and
collect. on all the taxable property
within the limits of said Village, the
necessary taxes to pay said bonds and
interest thereon, according to their
terms; and the proper officials of said
Village are further authorized and re-
quired to create and maintain said
Sinking Fund as herein constituted
and as required by law for the pay
ment of said bonds.
Section 5: This Ordinance shall be
in full force and effect from and after
its passage and publication in one
issue of the Bonners Ferry Herald, a
weekly newspaper of general circula-
tion in Boomers Ferry, Boundary Coun-
ty, Idaho.
Passed and adopted this 26th day of
April, 1921.
E.E. FRY.
Chairman of the Board of Trustees of
the Village of Bonners Ferry, Idaho
Attest: TSEALI
CHAs. D. ROWE, Village Clerk.