The Grangeville globe. [volume] (Grangeville, Idaho) 1907-1922, 1921-09-15
CITY ORDINANCE NO. Iss.

THE ISSUE OF $25.OOOOO MUNIC-
IPAL COUPON BONDS OF THE
CITY OF GRANGEvILLE, IDAHO.
Whereas. The City Of Grangevillc.
Idaho, is duly organized and existing
under the general laws Of the State Of
Idaho as City of the second class
and
Whereas, The said City has been
authorized to issue It's municipal cou-
pom bonds in the aggregate amount of
$2o,OOO.O0 to provide for the grading.
paving and improving of certain streets
and roads in said City Of Grangeville,
Idaho, with the assent of two thirds Of
the qualified electors thereof, voting
ct an election duly called and held for
that purpose and
Whereas, the said City has a total
assessed valuation. as equalized for
State and County taxes for the year
1920, Of 792,O43.30, and said City is
indebted in every manner and for all
purposes in the total sum Of $1S,322
.45, therefore.
BE 1T ORDAINED By THE MAY
OR AND COUNCIL OF THE CITY
OF GRANGEvILLE:
Section 1. That there shall be, and
there is hereby ordered issued, nego,
liable coupon bonds of said City OF
Grangcville to the aggregate amount
of $25,000.O0 for the purpose of pro,
viding for the grading, paving and
improving Of the following streets and
roads in the City Of Grangeville, Ida
no, street intersection of Main and
Meadow streets; street intersection of
Main and Hall streets; street inter
section of Main and State streets
street intersection Of Main and Col
lege streets: street intersection or
Main and Idaho avenue; Idaho avenue
from the junction of Main street and
Idaoh avenue to the Northern Pacific
Depot; Main street from the junction
of Main street and Idaho avenue to
the west side of 'C' street; &C. stree.
from the south side of Main
street to the east and west center
line running through Section 10,
Township 30 N. X. 3 E. B. NJ, at the
northwest corner of Block 8, of the
Lewiston Addition to the city of
Grangeville: street or road running
west from the northwest corner of
said Block 8, In said Lewiston Addi-
ton to a connection with the North
and South State Highway on the west
side of "E" street in said Lewiston
Addition to the City of Grangeville,
Idaho: for the building and construc-
ton of concrete culvert across Main
street between Hall and State streets
where the creek crosses said Main
street
Section 2. That said bonds shall
bear date Of July l, 1921, and shall
mature July 1, 1941, or at any time
after ten years from their date, and
before maturity, at the option of said
city, and said bonds shall bear interest
at six (6D per centum per annum, pay.
able January /, 1922, and semi-an-
nually thereafter on the first days of
January and July of each year, the
last installment of interest to be pay
able with the principal, and both prin-
cipal and interest of said bonds shall
be, and are hereby made payable at
the office of the treasurer Of said city,
or at the banking house of The Ma
tiOnal Park Bank in the City of New
York, State of New York, at the OPP
ton Of the holder thereof. \
Interest on such bonds shall be evil
denced by interest coupons, to be at
tached to each of said bonds, number
ed consecutively one upwards.
Section 8. Said bonds and coupons
shall in form substantially as follows
Form of Bond):
UNITED STATES OF AMERICA.
State OF Idaho County of Idaho
MUNICIPAL COUPON BOND OF
THE CITY OF GRANGEvILLE-
KNOW ALL MEN BY THESE
PRESENTS, That the City of Grange
vile, in the County of Idaho, and
State Of Idaho, acknowledges itself to
owe, and for value received, hereby
promises to pay to------- or bearer
the sum of
ONE THOUSAND DOLLARS
Lawful money OF the United States OF
America, on the first day of July,
1871, or at any time before said date,
after the expiration of ten years from
date hereof, at the option of said city.
together with interest from date here
of, until paid, at the rate of six (6)
per centum per annum. payable on the
first day Of January, 1922, and semi
annually thereafter, on the first DAYS
OF January and July, the last INSTALL
ment Of interest shall be payable with
the principal hereof Both principal
and interest Of this bond are hereby
made payable at the CITY Treasurer,s