The Idaho Republican. [volume] (Blackfoot, Idaho) 1904-1932, 1923-01-04

ORDINANCE NO. 27s
AN NS f 9aRlMANGh FOR Her4 TIE IS;
SUANCE. EXECUTION. SALE AND
DELIVERY OF LOCAL IMPROVE,
MENT BONDS. IN THE dAG Td 5nn.
VIDE FUNDS FOR THE CONSTRUG,,
TION OF THE IMPROVEMENTS IN
AND FOR LOCAL I H,tf C.,EM AZ I
IDAHO: PRovIDING FOR THE
FORM AND DATE OF SAID BOMBS
A 4HPnE TEn p TsNH &c F RA{M FIT
COLLECTION OF SPECIAL ASSESS,
MENTs FOR SAIL IMPROVEMENTS
HERETOFoRE LEyIE 50 q, A M rv Az Is;
SAID LOCAL IMPROVEMENT DIS,
TRICT SUFFICIENT TO PAY TEE
INTEREST ACCRUING UPON SAID
THE SAME FALLS DUE, AND ALSO
TO DISCHARGE THE PRINCIPAL
THEREOF AT MATURITY; REPEA AL,
THEREoF, IN CONFLICT HERE
WITH, AND DECLARING AN
EMERGENCY.
WHEREAS, Heretofore and on the
18th day of July, A. ID. 1921, Ordinance
No. 25S of said city was passed and
the assessment roll for Local improve,
ment District No. "a in said city; and
WHEREAS. Thereafter in form,
title and manner as required BY law,
notice of the time within which the
assessments named in said assessment
roll might be paid in cash without
penalty, interest or COSTS, was given
by the City Treasurer, and within the
time so provided $10,367.49 was paid
to the City Treasurer on account OF
said assessments, and on this date
there remains outstanding ana unpaid
assessments in the total sum OF
$24,732.09.
WHEREAS, Said notice was given
in the form and manner provided by
law and said ordinance, and WITHIN
the time provided for cash payments,
the assessments levied by said supple
mental assessment roll were paid IN
cash, and there now remains out
levied on all of the property included
within said Local Improvement Dis
trict No. "a by the original and sup,
Elemental assessment rolls In the total
sum of S24,732.09.
hereby ascertained and determined by
this Council, that it is not only advts-
able and to the best interest of the
said city, but also necessary that local
improvement bonds in the aggregate
principal sum of $4,000, bearing in
terest at the rate of seven per centum
ANNUALLY annG1 be issued and sold to pro
vide funds for the payment of the
costs and expenses of the improve
ments in said Local Improvement DIS
trict No. "a, and that the proceeds be
paid to the contractor for such I'M
provements; and
WHEREAS, Said Local Improvement
bonds have been heretofore prepared
the city of Blackfoot in the form
hereinafter set out and to the total
amount of $4,000; consisting OF Of
seventy-six GS) D0nds h inc1nsiye
of the denomination OF $500 each, the
said officers contemplating that this
amount of bonds would be necessary
to pay the cost of constructing the
Improvements in said Local Improve
ment District No. "a; and
WHEREAS, The City Council of said
city has determined that 1t will be
most convenient and to the best inter
ests of said city to use certain of the
bonds so executed, in the total amount
of $4,000 and bearing numbers as
provided, and to cancer i
excess of the total amount OF $25,000,
being the bonds numbered as herein
after provided; and
WHEREAS. The local Improvement |
bonds hereinabove and hereinafter
mentioned by this Council have been |
duly awarded and sold to KELLER |
BK1TaERs InYe stTsr Cola Bankers wbo
were and are the highest and best
bidders therefor, at price exceeding |
the par value of said bonds; and
WHEREAS, Each and all Of the pro-
ceedings had in creating Local I'm
District No. "a, and in the |
of the assessment for the cost |
of the construction of the improve
ments therein. have been and are reg
to the statutes of the State of Idaho;
NOW, THEREFORE,, In considsra-
ton of the premises,
BE IT ORDAINED BY THE MAYOR
AND COUNCIL OF THE CITY OF
BINGHAM COUNTY,
IDAHO:
Section 1. That it be and is hereby
lscertained, determined and declared
hat each and all of the proceedings
lad and taken in the making of the
original and supplemental assess
nents. fol-. the cost of the creation and
The
# Improvement therein, have been
md are in all respects regular and In
lue form of law, according to the con-
titutiOn and statutes of the State OF
IDAHO, and the ordinances OF said city;
nd that the assessment of the prop
rty in said Local Improvement Dis
riot No. "a. and the amount thereof,
s shown by the original assessment
oil confirmed and approved by ordin-
nee No. 258. and filed with the City
Jerk on the 7th day of July, A. p.
s21, is correct and in accordance with {
he constitution and statutes of said
tate and the ordinances of said city, t
nd Is the amount of the total cost of Il
aid Improvement; and that the o
of said assessment SO assessed S
pom any land, lots, pieces or parcels 0
f land within said local improvement T
istrict, and subject to assessment s0r
he cost and expense thereof, shall be
nd is hereby declared lien upon t
aid land, lots. pieces or parcels of t
md, and shall and does take prece- b
ence of all other liens and shall be t
objected together with interest on l
npaid installments at the rate of
even per centum (7%o) per annum.
nd may be foreclosed in accordance A
18th the provisions of the statutes
nd ordinances in such case made and
rovided. Z
Sec. 2. That for the purpose of pro-
iding funds for the payment of the
)sts and expenses of said improve {
ents in and for said Local Improve
ent District No. "a, there shall be S
nd there are hereby authorized c
-dered and directed to be issued, sold C
Id delivered in the name of said city,
KELLER BROTHERS, Investment E,
ankers of Denver, Colo, negotiable T,
upon bonds in he aggregate princi-
u sum of $4,000, which bonds shall h,
known as and designated Local ~
nprOVement RoDdS for Paving I'm -