Idaho County free press., 1923-10-11
D. 1923.
(SEAL)
City Clerk.

Section 8. The interest falling due
on said bonds on the first day OF Jan
uary and the first day of July, A. ID.
4 1924, shall be paid out of the general
fund of said city, and for the purpose
of reimbursing said general fund Tor
| said interest and to meet the interest
accruing on said bonds promptly and
as the same shall come due, and for
the purpose of creating a sinking fund
for the ultimate redemption of said
bonds there shall be levied in each
of the years 1924 to and including
the year 1912 a tax upon all the tax
able property in the city of Grange
vile sufficient to pay and discharge
the interest on said bonds as 1t be-
comes due; and in each of said years
1924 to and including the year 1912
there shall be levied, in addition to
the tax to paw the interest as afore-
said. a tax upon all the taxable prop
erty in the city sufficient to produce
One-nineteenth (1-19th) of the amount
of said bonds and the sums so raised
and provided shall constitute sinking
fund for the payment of the said bonds
at the maturity thereof. Said taxes
shall he assessed, levied and collected
in the same manner as other taxes Tor
general municipal purposes are as
sessed. levied and collected, and the
taxing officers for said municipality
shall do all things requisite and neces-
sarv to carry out the provisions mere
of with respect to the levy and col
lection of such taxes.
Section f. 1t shall be the duty Oh
the citv council of said City and 1t is
hereby required annually, at the time |
and in the manner provided by law
for the levying of other CITY taxes,
to ratify and carry out the provisions
hereof with reference to the levylng
of taxes and requiring the officers OF
and for said CITY to levy, extend ana
collect such taxes in the manner pro-
vided bv law, for the purpose OF Gre
ating a fund for the payment OF the
interest upon the principal OF SAID
bonds. and the said taxes when so
collected shall be kept for and applied
onlv for the payment of said interest
and principal of said bonds as herein
before specified, but nothing herein
contained shall he so construed as to
prevent the said CITY from applying
anv other funds that may hereafter be
In the CITY treasury and available Tor
that purpose to the payment OF SAID
interest or principal as the same re-
spectively mature, and the levy or
eyies herein provided for NAV there
mon to that extent be diminished.
Section 5. Said Bonds, when exc
.uted and registered as provided by
ow. shall be delivered to Bosworth,
7hanute and Company, of Denver
colorado. the purchaser thereof, in
accordance with law and the award
md tbe contract of purchase made to
hat end. and the proceeds derived
herefrom shall he used exclusively
or the purpose recited in said bonds
IS hereinbefore set forth; but the
purchaser of said bonds shall be in no
wise responsible for the application
f the proceeds of said bonds by SAID
itv or any of it's officers.
Section 6. This ordinance shall take
fleet and be in full force from and
fter its passage, approval and due
publication, and shall be irrepealabie
ntil the Indebtedness hereby created
hall have been fully paid and salts
led. al,
PASSED AND APPROVED this 4th
av of October. A. D. 1923.
SaaD =. ii. WOol'' niayoi'
LTTEST:
IT. Taylor CITY Clerk.