Payette enterprise. (Payette, Canyon Co., Idaho) 1909-1935, 1921-08-04


be executed by the engraved facsim-
, lie signature of said City Treasurer,
) and the officers in this paragraph
> mentioned are hereby authorized,
! ordered and directed to cause said
bonds and coupons to be prepared
substantially in the forms. respec-
lively, hereinbefore set forth, and to
execute the same for and on behalf
of said City as and in the manner
aforesaid; and after their execution
and before said bonds are delivered
to the purchasers thereof, they shall
be registered by the City Clerk in a
public record book kept for that
/ purpose in his office, which Shall
show that said bonds were issued by
said City the amount of each bond,
its number, date of issuance, time
and place of payment rate of inter
est, number of interest coupons at
tached. name and postoffice address
of the purchasers, and a proper des-
criDtion thereof for future identifi-
/ fication and when said bonds shall
have been so executed and registered
as aforesaid, their legality shall not
/ be open to contest by said City. nor
/ by any person or corporation for or
on its behalf for any reason whatso-
ever
{ Section g. That the interest fall
ing due on said bonds on January
1st' A. D. 1922, and July list, A. D.
1922, shall be and the same IS here
by ordered appropriated and paid by
the City Treasurer from the general
or expense fund of said City, and to
reimburse said fund or amount so
borrowed from it, and also to pay
the interest accruing on said bonds
subsequent to July 1st, A. d. 1922
promptly when and as the same falls
due, and to constitute and maintain
sinking fund sufficient to dis
charge the principal thereof at ma
thrifty, there shall be, and by this
ordinance it is hereby levied upon
all of the taxable property in said
City, in addition to all other taxes.
the following direct annual ad valor
en- tax, to-wit:
In the year A. D. 1922, the sum of
S102S50 for interest. In each of
the years 1923 to 1881, inclusive, |
the sum of $4,000 for interest.
IN each of the years 1882 to 1871, |
both inclusive, the sum of $4,000
for principal, and the further sum
of $--.-.........---.. for interest of I
the amounts becoming due as such |
interest upon the decreasing
amounts of the principal at the rate
of six percent per annum as provided
for in this ordinance, and said tax,
when collected, shall, by the Treas
urer of said City, be kept in assepar-
ate fund, to be known and designat-
ed as Municipal Coupon Paving
Bonds, dated August 1st, 1921, in
terest and sinking fund, which
shall be irrevocably pledged to and
used solely for the payment of the l.
accruing on and the princi-
pal of said bonds hereby authorized
when due, so long as any of said
bonds or the interest coupons
thereto appertaining remain
and unpaid, but shall be
used for no other purpose whatso-
ever until the Indebtedness so con- {
tracted under this ordinance, prin-
cipal, and interest, shall have been {
fully paid, satisfied and discharged, s
and upon the payment of the princi-
pal of any of the said bonds issued
hereunder, the levy or levies herein S
provided for the payment of interest a
nay to that extent be diminished.
Section 7. That it shall be the |
iuty of the City Council, and they Q
ire hereby required annually at the
ime and in the manner provided by
aw for the levying of other city
axes to ratify and carry out the A
provisions hereof with reference to \
llO lCNy lbS VI lctAOo anu
he officers of and for said City, to
evy, extend and collect such taxes
n the manner provided by law, for n
he purpose of creating fund for 3
he payment of the interest upon and S
he principal of said bonds, and the
aid taxes, when so collected, shall
e kept for and applied only to the I
ayment of said interest and princi-
al of said bonds, as hereinbefore in
pecified, but nothing herein con- "
aimed shall be so construed as to as
revent said City from applying any ..
Their funds that may be in it's treas n,
ry and available for that purpose to ty
ne payment of said interest or prin- be
ipal as the same respectively ma =.
ire, and the levy or levies herein p.
rovided for may thereupon to that
ztent be diminished, and upon the
ayment of the principal of any of Sc
he bonds issued hereunder in said