Montpelier examiner. [volume] (Montpelier, Idaho) 1895-1937, 1921-07-01
ORDINANCE NO. 2o2.

An Ordinance Ratifying the Estab-
hshment and Creation of Local
Improvement District No. 2, In the
City of Montpelier, Idaho, as Es-
tablished by Ordinance No. 186,
Passed and Approved ON tha 4th
day of March, 1920; Providing for
the payment OF the Costs and Ex-
penses OF the improvements to be
Made Therein in Ten Equal In
stallments; Providing for the Is
suance in the Name of the City of
Montpelier, Idaho, of Special Inn
pr0vement Bonds of Said Local
Improvement District No. q i'm the
Aggregate Amount of $14O, 912.47,
to Bear Date of July LIST, 1924,
Payable in InstaIlments OF Equal
Amounts Each Year, With Inter-
est Thereon at the Rate of Seven
Per Centum Per Annum, Payable
Semi-AnnualIy, and Repeating Or
dinance No. 106, Passed ON the
Gath day of November, 1920.
WHEREAS, under provision OF
Article of Chapter 1913 of the Idaho
Compiled Statutes of 1919, the May
or and Council may in their discre-
ton, provide for the payment of the
costs and expenses of improvements
in local improvement districts by in
stallments, instead of levying the en-
tire tax by special assessments for
the costs of such improvements at
one time, and for such installments,
may issue in the name of the city,
special improvement bonds of said
district, payable in installments OF
equal amount each year, with inter-
est thereon, and
WHEREAS, the Mayor and City
Council of the City of Montpelier,
Idaho, have determined, and do here
by determine that the payment OF the
costs and expenses of the improve
ments to be made in the Local I'm
proyement District No. 2" of said
City, shall be made in equal annual
installments, and for such INSTALL
ments to issue improvement bonds
of said district in the aggregate
amount of $140,912.47, to bear
date of the first day of July,
1891, which bonds shall be due and
payable on or before ten years from
date thereof, and shall bear interest
at the rate of per centum per an
mum, payable semi-annually on the
LIST day of January and the 1st day OF
July, of each year.
NOW THEREFORE,, BE 1T OR
DAMNED BY THE MAYOR AND
CITY COUNCIL of Montpelier, Bear
Lake County, Idaho:
SECTION THAT all acts, mat
tiers and things relating to the crea-
ton and establishment of Local I'm
provement District No. 2, In Mont
pelier, Bear Lake County, Idaho, as
created by Ordinance No. 1876, pass
ed and approved on the 4th day OF
March, 1920, be and the same are
hereby ratified, confirmed and APP
proved.
SECTION 2.-That all deferred
payments of costs and expenses for
the improvements done in said dis
trict which are properly assessed
against the property therein be, and
the said deferred payments are here
by divided into 10 equal instalIments
to be payable annually thereafter,
which said installments shall bear
interest at the rate of per centum
per annum from the date of the
bonds herein mentioned.
SECTION 3.-That for the pay
ment Of the improvements made IN
said local Improvement district there
shall be, and there is hereby author
ized to be issued In the name OF the
City of Montpelier, Bear Lake Coun.
IN, idaho, local improvement bonds
OF said Local improvement District
NO. 81" in the aggregate amount Of
s140.912. tho same being the
total amount Of the unpaid assess
menfs ii said Improvement district
SECTION 4.sThat each. of said
bonds shall BE numerically numbered
and designated All Local Improve