Mountain Home Republican. [volume] (Mountain Home, Idaho) 1915-1946, 1924-09-05
ORDINANCE NO. 227

THE HOLDING OF A SPECIAL
ELECTION IN THE VILLAGE OF
MOUNTAIN HOME, IDAHO, FOR
THE PURPOSE OF SUBMITTING
TO THE QUALIFIED ELECTORS
WHO ARE TAXPAYERS THERE
OF THE QUESTION OF THE IS
SUANCE OF MUNICIPAL COU-
pom BONDS OF SAID VILLAGE,
IN THE TOTAL AMOUNT or
FIFTEEN THOUSAND DOLLARS
FOR THE PURPOSES, TO-WIT:
| TO PROVIDE THE FUNDS NECES-
SARY FOR THE DRILLING OF A
DEEP WATER WE'LL; PROVID-
ING CASING, PUMP, PIPE AND
OTHER EQUIPMENT FOR SAME;
AND TO PROVIDE FOR THE
COLLECTION OF AN ANNUAL
TAX UPON ALL TAXABLE
PROPERTY WITHIN THE VII
LACE OF MOUNTAIN HOME,
IDAHO, SUFFICIENT TO PAY
THE INTEREST ON S u c II
BONDS. AS 1T FALLS DUE, AND
TO CREATE AND CONSTITUTE
A SINKING FUND FOR THE PAY
MENT OF THE PRINCIPAL
THEREOF, WITHIN TWENTY
YEARS FROM THE TIME OF
THE ISSUANCE or THE SAME
AS THEY BECOME DUE.
BE 1T ORDAINED By the Chairman
and Board OF Trustees of the VIII
lage Of MOUNTAIN HOME, IDAHO.
Section 1. THAT a Special Elec-
ton of the qualified electors, who are
taxpayers of the Village of Mountain
Home, County of Gilmore, State Of
Tfahn shall ha ba1d fbarofr, 80,
urday, September 9Th, 1924, for the
purpose OF submitting to the said
electors the question Of the issuance
by the said Village, of Municipal
Coupon Bonds in the denominations
Of $4,000 or 100000 each, or
both, payable within twenty years
from the date OF the Issuance, re-
deemable at the pleasure of said VIII
lage at any time after ten years,
bearing interest at a rate not to ex-
coed six per centum per annum, in
terest payable semi-annually, in an
amount in the aggregate not to ex-
ceed the sum OF Fifteen Thousand
Dollars ($15,0O0.00) and to provide
for the levy and collection OF an an
nual tax upon all the taxable prop
erty in the Village OF Mountain
Home, sufficient to pay the interest
upon said bonds as IL falls due and
to create and constitute a sinking
fund for the payment at any time
after ten years of the Principal of
laid bonds, as they become due, for
he following described purposes, to-
Wit
First Municipal Coupon Bonds
be known as Water Well Bonds"
the amount of Fifteen Thousand
Dollars ($15, 000.00), to provide the
unds necessary to pay the cost and
expenses of Drilling a Deep Water
Nell, casing, providing pump, pipe
nd other equipment for same.
Second Said bonds, If authorized,
" the vote of the qualified Electors
Tho are taxpayers of the Village of
fountain Home, Idaho, shall be pay
Bile twenty years from the date of
ssue, but shall be redeemable at the
ileasure Of said Village OF Mountain
lone, at any time after the expira-
ion Of ten years from the date OF
aid issuance. Said bonds shall bear
interest at rate not to exceed six
er centum per annum, interest pay
bic semi-annually and shall in all
aspects comply in form and issuance
nth the provisions of Chapter ITO
Z the Idaho Compiled Statutes of
919.
Section @ That in order to pro-
ide for the payment OF the interest
IA said bonds authorized to be issued
{ the election herein crowded for
ndA1o constitute a sinking fund for
he payment of the principal there
II, at maturity, direct tax, In
edition to all other Village taxes,
hall be levied and collected annual
y, on all the taxable property with
the Village Of Mountain Home,
IDAHO, sufficient to meet the interest
IN all such bonds as may be Issued,
romptly as the same natures and
lso sufficient to establish and main
in a sinking fund, which shall be
efficient for the payment of the
thereof within twenty GOD
ears from the time of the issuance
II the same.
Section 3. At least thirty days
office Of the time of holding said
ipecial election, is hereby directed
o be given, by publication in the
fountain Home Republican, the Of
cial newspaper Of said Village of
fountain Home, Idaho, and said
ection shall be conducted in ac-
8rdance with the Ordinances Of said
illage and the Laws Of the State OF
1aho, in such cases made and pro-
ided.
Section A. That the voting at
lch election shall be by ballot, and
he ballot shall be so prepared as to
srmit the electors to express their
sire on the issuance Of said Bonds,
lch Ballots shall be as follows, to-
VT: