The Bingham County news., 1921-05-06
THE BINGHAM COUNTY NEWS

prevent said City from agDlvinS any
other funds that may IRE IN the treas
ury OF said City and available Tor
that purpose TO the payment Of said
interest or principal as the same re-
spectively mature. and the levy or
levies herein provided for may there
upon to that extent be diminished.
AL such taxes must be levied, assess
ed and collected as other City taxes,
until said bonds are full paid, in
Guiding the interest thereon, and
such taxes, when collected, shall be
kept. for and applied only to the pay
ment of the interest and principal OF
said bonds as hereinbefore specified.
The faith, credit and all taxable
property within said City are and
must continue to be pledged, and the
proper officers of said City must con-
tinue to assess and collect on all tax
able property within THE limits there
of, the necessary taxes to pay said
bonds and the interest thereon as
the same becomes due. Should the
tax for the payment of interest on
any of said bonds at any time, not
be levied or collected in time to meet
ouSh pay lllCut, tuc lulGI6Sl uluSt US
paid out of any moneys in the gem
eral or expense fund of said City and
the money so used for such payment
of interest must be repaid to the
fund from which so taken, out of the
first moneys collected from taxes.
Section 4. w henever, after the
expiration OF ten years, from the date
of said bonds, the said City has mon
ey in said sinking fund sufficient to
redeem any of said bonds, and avail
able for that purpose. and desires
to exercise it's option to so redeem,
the Mayor and City Council of said
City shall by resolution exercise such
option, specifying the amount of
bonds to be so redeemed, and there
upon the City Treasurer of said City
shall call in any pay and redeem
sand amount of bonds, in numerical
order, beginning with the lowest
numbered bond then outstanding.
He shall call said bonds by publish
ing for at least thirty days in news
paper printed and published in and
of general circulation in said City of
Blackfoot, Idaho, notice that he will
ON a certain interest date therein
named, (Which shall be at least thir-
ty days after first publication of said
notice. pay and redeem certain of
said bonds, giving their numbers and
date, and by mailing a like notice,
postage prepaid, addressed to the
Hanover National Bank in New York
City, on or before the date of the
first publication of said notice, and
in case any of the bonds so called
are not presented for payment on
the date mentioned in said notice,
at the place where they are payable
by their terms, then such funds for
their payment shall remain in the
treasury of said City to pay such
bonds shall cease to draw interest
for their redemption.
Section 5. ALL proceeds derived
from THE sale of said bonds must be
| applied exclusively to the purpose
| for which said bonds are issued.
Section g. All ordinances and
resolutions or parts of ordinances
and resolutions, in conflict with the
provisions hereof, are hereby repeal
ed, and after said bonds are issued,
this ordinance shall be and remain
irrepealable until said bonds and the
interest thereon shall have been
fully paid, satisfied and discharged
as herein provided.
Section Z. This ordinance shall
be in force and take effect on and af-
ter it's passage, approval and publi-
| cation.
Passed this 29th day of March,
1920.
Approved this 29th day of March,
1920.
N. J. THORSTENBERG
Mayor of the City of BlackfOot, Ida.
Attest: LEON J. CHAPMAN,
(SeaD City Clerk.