Mountain Home Republican. [volume] (Mountain Home, Idaho) 1915-1946, 1924-08-15
ORDINANCE NO. 227

I'M llOl4OAN0 Ut "A 81 LO1<AAl
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
SUANCB 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 @ HI
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 IT ORDAINED, BY the Chairman
and Board Of Trustees OF the viii
lage of MOUNTAIN HOME, IDAHO
Section L THAT a Special Elec-
ton of the qualified electors, who are
taxpayers of the Village Of Mountain
Home, County of Gilmore, State Of
I,I d..
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 $4,000 or 100000 EACH or
both, payable within twenty years
from the date OF the issuance, re-
deemable at the pleasure OF said VIII
lage at any time after ten years,
bearing interest at a rate not TO ex
coed six per centum per annum, i'm
terest payable semi-annually, In an
amount in the aggregate not to ex-
eeed the sum of Fifteen Thousand
Dollars ($l5,000.00) 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 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;
Municipal Coupon Bonds
to be known as Water Well Bonds, |
to the amount Of Fifteen Thousand |
Dollars ($15,000.00), 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 40
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 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
ly, on all the taxable property with
in the Village OF Mountain Home,
sdAnc sufIicfft 10 meet the interest
on all such bonds as 1ias &c issued
as Che same natures ana
also sufficient to establish and main
tain a sinking fund, which shall be
sufficient for the payment OF the
principal thereof within twenty (20) |
years from the time of the issuance
Of the same
Section 9. At least thirty days
notice of the time Of holding said
Special election, is hereby directed
TO be given, by publication in the
Mountain Home Republican, the of
fetal newspaper of said Village Of
Mountain Home, Idaho, and said
election shall be conducted in ac-
,ordance with the Ordinances Of said
and the Laws Of the State OF
Idaho, in such cases made and pro-
gided.
Section 4. That the voting at
such 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
such Ballots shall be as follows, to-
wit: