The Bingham County news. [volume] (Blackfoot, Idaho) 1918-1930, 1921-07-29

Alley, IL feet on each side of CEN
ter line.
Section 3. That the full cost and
expense of making the improvements
described in Section 2 of this Ordin-
ance shall be taxed and assessed up
on all property included in said Lo-
cal Improvement District No. 26, as
described specifically in Section / of
this Ordinance; said cost and expense
shall be assessed in proportion to the
number of feet of said land and lots
fronting on said improvement or
abutting upon contiguous or tribu-
tary thereto and included in said Lo-
cal improvement District No. 26,
and in proportion to the benefits de-
rived by said improvement.
Provided that the portion of the
MeE. Ct the space formed by the
lunc'i'n of Two or more streets or
where one mann street terminates in
or crosses frOther mail street, also
all crosarEs or cross WALKS shall be
Paid by 'he City of BlacKf) t from
p,Oce"'ia CT the sale of is Eth.~al
municipal bonds.
Sc :iun 4. That the Co.'S, for max
in, OF said improvement as set !of,h
i'll Section of this ordinance shall
be payable in ten equal installmsrtn
wh:cE installments shall her i:.ter-
es: a; the rate Of per eat ;tI ;r-
uim ~, able annually. Fr the
MI nj hn 10
the making of said improvement.
during the course of construction,
warrants shall be issued against said
district, payable to the contractor or
other proper person, upon estimates
of the city engineer, which warrants
shall bear interest at the rate Of Z
per cent per annum from the date
thereof until redeemed and which
warrants with interest thereon shall
be redeemed and retired from the
proceeds of the sale of bonds Of said
district, which bonds shall be is
sued in the name of the Municipal !
ity, shall be payable by the terms
thereof in equal annual amounts be- |
ginning one year and ending ten |
yO0Io ultCI udIC, dIlu Sudll UCdI III
terest at the rate of 7 per cent per
annum payable annually. Such |
bonds shOll not be issued in excess of |
price and expense Of |
such improvement including engi-
neering and other clerical services,
inspection, cost of col
Letting assessments and interest upon
coid orro ptC Coi do c1 ~ |
consecutively from one up
and shall be in the denomination of |
$4,000 except Bond No which |
may be for such odd amounts less
than $4,000 as may be necessary
and proper. Coupons shall be at
tached to said bonds for each annual |
installment of interest Said bonds |
Mayor, countersigned by the City !
Treasurer and attested by the City !
Clerk, provided, however, that such I
coupons in lieu of being signed as
aforesaid, shall have printed there
on facsimile signatures of the city Of
ficials and each bond shall have the |
seal of the City affixed thereto and
trict for the payment Of which the
same is issued and shall provide that
the principal sum therein named
and interest thereon shall be payable
out of the Local Improvement Fund
OF said district and not otherwise
Section .. There is hereby Great
ed in the City Treasury a special |
fund known as the Local Improve
ment District No. 26 Fund" which |
is hereby created for the purpose Of |
paying the costs and expenses of
such Improvement and all assess
men to be levied for the payment Of |
TIE costs and expenses of said i'm
provement as collected shall be paid |
Immediately into said fund and no |
portion of said fund shall, so long as
any of the bonds SHAH remain cut
standing and unpaid, be used for any |
other purposes than for the payment |
of principal and interest of said |
bonds. Holders of said bonds shall |
have no claim therefor against the !
{. tv exec Or t. pc mt o. 11ec-
i'll assessment mate ttr the inpr we
ment for which said bonds are issued |
but the holders remedy in case of |
no payment shall be confined to en-
rorcemeH of such assessments as
provided by Section 4026 of the
Compiled Statutes of 1919. State of |
Idaho, and a copy of said section |
snail be plainly written. printed or
enGra ed upon the face of each bond |
SO issued. Assessments which shall |
be levied against lands in said Lo-
CO. Improvement District shall be-
come lien upon the lots, lands or
parcels of land against which same
are levied respectively, which lien
shall take precedence over all other
liens and may be foreclosed in &C
cordance with the provisions of Com
piled Statutes of 1919, State of Idaho.
Whenever there shall be sufficient
money in the fund of said district ov-