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

AN ORDINANCE PROVIDING FOR
TIE 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. OF
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 III
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 OF THE SAME
AS THEY BECOME DUE.
BE IT 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 |
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 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 ($15,000.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 1t 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,O 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 rate not to exceed six
per centum per annum, interest pay
able semi-annually, and shall in all
comply in form and issuance
with the provisions of Chapter ITO
If the Idaho Compiled Statutes of
1919.
Section 2. That in order to pro-
ride for the payment of the interest
IN said bonds authorized to be issued
1t the election herein provided for
md to constitute sinking fund for
he payment of the principal there
#, at maturity, direct tax, in
edition to all other Village taxes,
hall be levied and collected annual
y, on all the taxable property with
n the Village of Mountain Home,
IDAHO, sufficient to meet the INTEREST,"
N all such bonds as may be issued,
as the same natures and
lso sufficient to establish and main
ain a sinking fund, which shall be
efficient for the payment of the
thereof within twenty (20)
ears from the time of the issuance
f the same.
Section 3. At least thirty daysl
office of the time of holding said A
peciaI election, is hereby directed !
0 be given, by publication in the
fountain Home Republican, the Of
cial newspaper of said Village of
fountain Home, Idaho, and said
lection shall be conducted in ac-
with the Ordinances of said
illage and the Laws Of the State of
laho, in such cases made and pro-
ided.
Section 4. That the voting at
Ich election shall be by ballot, and
re ballot shall be so prepared as TO ,
ermit the electors to express their
esire on the issuance of said Bonds, D
Ich Ballots shall be as follows, to-
it: