The daily star-mirror. (Moscow, Idaho) 1911-1939, 1921-06-15

District No. A. into which shall bt
paid assessments hereinbefore pro
vided, as and when directed by the
ordinance confirming the same anc
said fund is created for the purpose
of paying and redeeming the bonds
issued in the payment Of said costs
and expenses of the aforesaid i'm
provements as hereinafter provided
and from which shall be paid bonds
to the extent thereof and in no event
shall the city of Moscow, Idaho, be
liable for the payment of said bonds,
or any part thereof, or shall the
holder OF any bond or bonds issued
under authority of this ordinance,
have any claim therefor, or for the
payment thereof, against the city OF
Moscow, Idaho, in any event for the
collection of the said assessment made
for the improvements for which said
bond was issued. That the remedy
in case of non-payment shall be con-
fined to the enforcement Of such as
sessment, as by the laws Of the state
of Idaho in such cases made and pro-
vided.
Section II
For the purpose of making payment
for the costs and expenses of such
improvements there should be issued
by the city of Moscow, Idaho, negoti-
abllel coupon bonds, as provided by or
dinance No, 50Kof the City of Moscow,
Idaho, as well by this ordinance and
by Article 6 of Title 80 of Chapter
1853 of the Idaho Compiled Statutes,
1919, payable to bearer ten years at
ter date, bearing interest at the rate
not to exceed 61a percent per annun,
which bonds shall be styled Special
Improvement Bonds, District No. Ia
provided the city of Moscow, Idaho
hereby reserves the right to call and
pay all such bonds according to their
numerical order, as provided in the
laws above referred to, whenever
there shall be sufficient money on
hand in the fund herofore designated
to pay any of said bonds. Said bonds
shall be issud in an aggregate amount
equal to the total amount of the said
assessment, levied as herein pro-
vided, and shall be of the denomina
ton of Five Hundred ($500.O0) Doll
lars each, except that one bond may
be for such sum less than Five Hun
dred ($5O000) Dollars, as may be
necessary to make the issue cores
pond with the total amount of said
assessment levied as herein provided.
Section IL
The improvement provided for by
Sections l and 2 of this ordinance
shall be made under the supervision
of tn Mayor and City Council of the
city of Moscow, Idaho, which is here
70 ronoiUo hide for
making the same, and after having
received said bids, the said Mayor and
City Council shall pass upon said
bids, with the right of rejecting any
and all bids, in their discretion, which
said council by and through its Mayor
and city Clerk, is hereby authorized
to enter into such contract or con-
tracts as may be necessary to have |
such improvements completed as soon
as may be consistent with the proper |
procedure, after the receiving and |
approval of said bid or bids by the
said city Council. The contract for
said improvements shall provide that
the same be completed, in all things,
in accordance with the plans and
specifications for said improvements
herein referred to, and shall also pro-
vide that the contractor or contract
,rs, making such improvement or i'm
shall accept the bonds
herein provided for at par and accrued
nterst in the payment of the contract
price for such work, to the extent of
such bond issue, if the city shall so
,lect, and that the balance, if any,
# said contract price, shall be paid
n such manner as shall be hereafter
by the city Council.
Section Is =