Bonners Ferry herald. [volume] (Bonners Ferry, Idaho) 1904-current, 1921-07-14

engraved fac-simile of the signature
of said officer.
Section 5. That the Board of Coun-
ty Commissioners of Boundary County
shall, after inviting bidders for said
bonds, as hereinafter provided for, and
after ascertaining the best terms upon
which, and the lowest rate OF interest
at which said bonds can be negotiated.
and after an offer for the purchase
thereof has been accepted, secure the
proper printing thereof, in substantial
ly the respective forms hereinbefore
set forth; and thereafter must have
them consecutively numbered and
otherwise properly prepared and exc
cuted
Section 6. That said officers here
inbefore referred to are hereby au-
thorized and directed to execute said
bonds and coupons for and on behalf
OF said Boundary County as and in
the manner herein prescribed. After
said bonds have been duly executed
they must be registered by the County
Auditor in the book kept for that pur-
pose in his office, wherein must be
stated the number, date, amount OF
each bond, time and place of payment,
rate of interest, number of coupons
attached to each bond. and any other
proper description thereof for future
Identification.
Section z. That, upon the due exc
cution OF said bonds by the proper
OFFICERS of said County, and after the
same have been registered as required
by law, the Board of County Commits
sioners of said County shall. in ac-
cordance with its contract, deliver said
bonds to the County Treasurer and
take and file his receipt therefor and
charge him with all the bonds so de-
livered. Thereupon the said County
treasurer, under the general super
vision of the Board of County Commits
sioners, shall deliver said bonds for
cash TO the purchaser thereof. who
shall be the bidder offering to take
the same upon the best terms and at
the lowest rate of interest, not exceed
ing six per cent $50 per annum,
payable semi-annually; but in no case
shall said bonds be sold for less than
their face or par value and accrued
interest thereon at the time of their
disposal.
The proceeds derived from the sale
of said bonds shall be placed in a
separate fund in the County Treasury.
and applied exclusively to the purpose
for which said bonds are authorized
to be issued; but the purchaser of said
bonds shall in no manner be respon-
sible for the application or disposal
by said County or its officers of any
of the proceeds derived from the sale
thereof
Section s. That, for the purpose of
providing funds sufficient to pay the
interest on said bonds promptly as the
same falls due, there shall be and
hereby is ordered levied annually upon
all OF the taxable property in Bound
airy County, in addition to other au-
thorized taxes, direct annual tax
sufficient for said purpose; and, one
year before said bonds become due.
and in time to provide funds for their
payment, there shall be and hereby is
ordered levied sufficient additional
tax upon all of the taxable property
in said Boundary County to pay said
bonds as they fall due.
All such taxes shall be levied as
sessed and collected at the same time
and in the same manner as other
County Taxes are levied, assessed and
collected, nutil said bonds so issued
are fully paid, including the interest
thereon; and when collected. said
taxes shall be placed in a special fund
in the County Treasury of Boundary
County. which is hereby irrevocably
pledged and shall be used exclusively
for the payment of the principal and
interest of said bonds as the same fall
due.
Section 3. That, for the prompt
payment Of the principal and interest
of said bonds as the same fall due.
the full faith, credit and resources of
boundary County in the State of Ida
no, and all taxable property therein.
are hereby irrevocably pledged.
Section 10. Should the tax for the
payment of the interest on said bonds
at any time not be levied or collected
in time to meet such payment, the in
terest must be paid out of any monies
in the County, General or Current Elk
pense Fund, and the monies so used
for payment of interest must be repaid
to the fund from which so taken out
of the first monies arising from taxes
collected on interest account, and any
excess over and above the interest
charges shall be placed in a sinking
fund to be known as the Bond Tax
Sinking Fund"
Section II. That the Board of
County Commissioners of Boundary
County give at least twenty (2O) days
notice, by publication in the Bonners
Ferry Herald, weekly newspaper
printed and published at Boomers Fer
RI, in Boundary County, in the State
of Idaho, and having a general circu-
lation in said County, in four az con
secutive issues thereof, prior to the
18th day of July, A. d. 1921, the date
herein set for opening and considering
bids for said bonds and selling the
same, that the Board of County Com
missioners Of said County intends to
issue, negotiate and sell such bonds
and inviting bidders therefor; said no
tice to contain a brief description of
said bonds, to state the time when and
place where said bids will be opened
and considered and the bonds sold,
and to be in substantially the follow
ing form, to-wit:
NOTICE OF INTENTION TO ISSUE.
NEG0TTATE AND CIT T nnTTNrn