Mountain Home Republican. [volume] (Mountain Home, Idaho) 1915-1946, 1924-08-22
ORDINANCE NO. 227

AN ORDINANCE PROVIDING FOR
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
SUANCD OF MUNICIPAL COU-
pom BONDS OF SAID VILLAGE,
IN THE TOTAL AMOUNT OF
FIFTEEN THOUSAND DOLLARS
FOR THE PURPOSES, TO-WIT;
TO PROVIDE THE FUNDS NECES-
SARY FOR THE DRILLING OF A
DEEP WATER WE'LL; PROYID-
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 H
BONDS, AS IT 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 OF 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 /. THAT a Special Elec-
ton of the qualified electors, who are
taxpayers of the Village of Mountain
Home, County of Gilmore, State of
Idaho, shall be held therein on Sat-
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-
coed the sum OF Fifteen Thousand
Dollars ($15,00O.o0) 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 it falls due and |
to create and constitute a sinking |
fund for the payment at any time |
after ten years of the Principal Of |
said bonds, as they become due, for |
the following described purposes, to-
wit:
First-Municipal Coupon Bonds |
to be known as Water Well Bonds" |
to the amount of Fifteen Thousand |
Dollars ($15, 100000, to provide the |
funds necessary to pay the cost and /
expenses of Drilling a Deep Water
Well, casing, providing pump, pipe |
and other equipment for same.
Second-Said bonds, If authorized,
by the vote of the qualified Electors
who are taxpayers of the Village Of
Mountain Home, Idaho, shall be pay
able twenty years from the date of
issue, but shall be redeemable at the
pleasure of said Village of Mountain
Home, at any time after the expira-
ton of ten years from the date of
said issuance. Said bonds shall bear
interest at a rate not to exceed six
per centum per annum, interest pay
able semi-annually, and shall in all
respects comply in form and issuance
with the provisions of Chapter 10
Of the Idaho Compiled Statutes of
1919.
Section 2. That in order to pro-
vide for the payment of the interest
on said bonds authorized TO be issued
at the election herein provided for
and to constitute a sinking fund for
the payment of the principal there
Of, at maturity, direct tax, in
to all other Village taxes,
shall be levied and collected annual
Iy, on all the taxable property with
In the Village of Mountain Home,
Idaho, sufficient to meet the interest
ln all such bonds as may be issued,
promptly as the same natures and
also sufficient to establish and main
tain a sinking fund, which shall be
sufficient for the payment of the
thereof within twenty 600
Years from the time of the issuance
If the same.
Section 3. At least thirty days
notice of the time of holding said
Special election, is hereby directed
o be given, by publication in the
Mountain Home Republican, the Of
icial newspaper Of said Village OF
Mountain Home, Idaho, and said
election shall be conducted in &C
,ordance with the Ordinances of said
Village and the Laws of the State of
IDAHO, in such cases made and pro-
,ided.
Section 4. That the voting at
uch election shall be by ballot, and
he ballot shall be so prepared as to
permit the electors TO express their
lesire on the issuance Of said Bonds,
iuch Ballots shall be as follows, to-