The Bingham County news. [volume] (Blackfoot, Idaho) 1918-1930, 1923-02-16
Treasurer.

4
SECTION 4. That the Mayor, Clerk
and Treasurer Of said City are hereby
authorized, ordered and directed to
cause said bonds and coupons to be
prepared substantially in the forms,
respectively hereinabove set forth,
and to execute the same for and on
behalf of said City, as and in the man
ner aforesaid; and after their execu-
ton and before said bonds are deliy-
cred to the purchasers thereof, they
shall be registered by the City Clerk
in 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,
it's number, date of issuance, time and
place of payment, rate of interest,
number of interest coupons attached,
name and postoffice address of the
purchasers and proper description
thereof for future Identification, and
when said bonds shall have been so
executed, registered as aforesaid,
their legality shall not be open to
contest by said City, or by any per-
son or corporation for or on its be-
half for any reason whatsoever,
SECTION s.. That to pay the in
terest accruing on said bonds prompt
ly when and as the same falls due
and to constitute and maintain sink
ing fund sufficient to discharge the
principal thereof at maturity, there
shall be and by this ordinance there
is hereby levied upon all of the tax
able property in said City, in addi- !
ton to all other taxes, the following |
direct annual ad valorem tax, to-wit: !
In each of the years 1928 to 1882 !
tax sufficient to produce the sum Of |
$2,285 in each year, being for interest:
In each of the years 1888 to 1912
a tax sufficient to produce the net
sum in each year of $4,700, to be APP
piled toward payment of the principal
Of said bonds, and $2,2S5 to be ap-
piled towards interest on said bonds; /
provided, that If and when any of said
bonds have been redeemed and can
celled, then the levy for interest may
De reduced. Said tax when collected
shall, by the Treasurer Of said City,
De kept in a separate fund to be
Known and designated as Municipal
Coupon Refunding Bonds, dated jan
larry 1, 1923, Interest and Sinking
FUND.-" which shall be irrevocably
pledged to and used solely for the
payment of the interest accruing on
md the principal Of the said bonds
Hereby authorized when due, SO long 6
IS any Of said bonds, or the interest
coupons thereto appertaining remain
outstanding and unpaid, but shall be
lsed for no other purpose whatever II
Until the Indebtedness so contracted c
lnder this ordinance, principal and {
interest, shall have been fully paid. G
atisfied and discharged.
SECTION 6. That it shall be the |
uty Of the Council and they are here I
y required annually at the time. and t
n the manner provided by law for a
he levying of other city taxes, to Il
atty and carry out the provisions J C
ereof with reference to the Ievying {
taxes and requiring the officers Of a
nd for said City to levy, extend and b
ollect such taxes in the manner pro Z
ided by law for the purpose, of Gre
ting fund for the payment Of the n
interest upon and the principal of the a
onds so issued, and the said taxes n
hen so collected shall be kept for h
nd applied only to the payment of r.