The daily star-mirror. (Moscow, Idaho) 1911-1939, 1923-02-24
ORDINANCE NO. 523

Year Funding Bonds, to redeem out
standing warrants drawn on the
General Fund of the City of Moscow
Idaho, in the sum of Thirty-five
Thousand and no-100 ($35, 100000
Dollars, for payment of the Outstand-
! ing indebtedness, represented by City
! Warrants, which have been duly and
regularly issued for the work and
materials in the completion of the
new septic tank and sewerage works
Of said City of Moscow, Idaho; Pro-
viding that the mayor and city clerk
of the said City of Moscow, Idaho,
shall, for and on behalf of, and in
the name of the City, execute said
bonds under the seal of the said
City; providing for the levying of a
direct tax annually on all the taxable
property in the City of Moscow,
Idaho, for the payment of said bonds,
and the interest thereon, and provid-
ing when this ordinance shall take
effect and be in force.
Whereas, the Mayor and City Coun-
Gil of the City of Moscow, Idaho, did
on June 10, 1921, pass the following
resolution and minutes at a regular
meeting of said City Council held in
all cOuncilmen elect, to-wit:
Whereas, an emergency existing
in this, that the old septic tank hav-
ing been condemned, and the District
Court having restrained the further
use thereof at it spresent site, and
all the moneys for the construction
of the new septic tank and works,
which was collected by assessment,
having been expended, and the said
new septic tank and works COM
pletion being an absolute necessity
for the preservation of the public
health and wants of all the people
of the City of Moscow, Idaho, as well
to comply with the restraining order
of the District Court of the Second
Judicial District of the State of Ida
no, in and for the County of Latah
in relation to stopping the further use
of the old or present septic tank and
works, and the said new septic tank
and works is now not completed and
not fit for usage until completed.
cit is, therefore, resolved, That the
City of Moscow, Idaho, do proceed at
once to the completion of the new
septic tank and septic tank works,
and pay for such completion out of
any funds of such city available, or
in case sufficient funds are not avail
able, that deficiency warrants issue
on the General Fund of the City of
Moscow, Idaho, payable as by the
laws of the State Of Idaho, in such
cases made and provided.
"The Mayor and Council now be-
ing fully advised and informed con-
corning the said matter, and it ap-
pearing that such emergency does
exist and the inhabitants of the City |
need protection as in said resolution
set forth, the same being passed and
as aforesaid
Whereas, the said City of Moscow,
Idaho, by and through it's Mayor and
City Council has, since June 10, 1921,
the construction of said
new septic tank and septic tank
works and the City of Moscow has
issued therefor, and for the complet-
ion thereof outstanding warrants on
the General Fund of the City of Mos
cow, Idaho, amounting to the sum of
Thirty-five Thousand and no-1O0
($35, 100000 Dollars, redeemable at
any time from the date of issuance
thereof, and are payable from the
General Fund of the City of Moscow,
and bear interest at the rate of
Seven per cent per annum, and
Whereas, said warrants are now a
7alid, binding and subsisting obliga-
ion of the City Of Moscow, and there
ire no funds in the Treasury of the
Jity of Moscow, for the payment
hereof;
Now, Therefore, Be it Ordained by
], 0f ho
lily Of Moscow, Idaho:
Section THAT for the purpose of {
said warrants of the City s
f Moscow, Idaho, at lower rate of {
interest, there are hereby authorized t
0 be issued Thirty-five $3.50 Munich (
al Refunding Bonds of One Thous-
nd Dollars ($1,0OOOO) each, dated \
he first day of March, 1928, payable /
BILE at the option of the City of .
[oscow, Idaho, at any time after ten Q
ears, and numbered from one Cd Q
, Thirty-five $3.50 inclusive, both Q
rincipal and interest of said bonds
le City Treasurer of the City of h
-oscow, Idaho, or at the Chemical b
ational Bank in the City of New C
Urn, OIdt0 VI lN0W IOIh, DIT Lie "
3tion of the holder. Said bonds a
TALL bear interest evidenced by cou- e.
,ns at the rate of five and one-half Ii
~ per centum per annum, pay T
lie semi-annually. 1!
Section 2-The said bonds shall be A
bstantially in the following form: =
UNITED STATES OF AMERICA
STATE OF IDAHO G.
}. 100000 =
CITY OF MOSCOW