HomeMy WebLinkAboutORD 129000
AN 0J)INANCE
TO PROVIDE FOR THE ISSU ING AND SELLIXG
OF CUPON KNUS OF ME CITY OP CALUWELL, IDAHO, IN THE SUM OF
TEN THLUSAND DOIJARS POP THE PURPOSE OF 1UNDING THE OUTSTANDTND
P
WAIFI,�XT INDEBITWS OP THE SAID CITY OP CAL DELL, AS PROWUND
TY ORDINANCE NO-125 AND TO PRO II* FOR THE PAYMENT OF SAID
DOM AND THE INTEREST THEREON.
BE IT ORDAINED BY TlUim T,1AYOR A1 COUNCIL
of the City of CaldWell:
Section I.- That for the purpose of thP
outs tonding warrant indebitness of thp City of Caldwell, as
appoars by Ordinance No. 125, there shall be issued cupon bonds
of suid city in tbo suk of Ton thousand U011ars ($10,000-00)
Section 2.- Saa.d bonds s1*11 be issued in the
dononinationn of one thousand dollars oa0h, numbered consec-
utively, and shall bear interest at the rate of five per
cent per annum, payable semi-annually on the first day of
January and the first day of July of each year, evidenced by
oupons Wacbed to such toads, both. principai and interest
to be made payable in lawful monoy of the United States of
Awnrica and the interest payable at the option of the holder
of any such boi1d, at, the office of the City Treasurer of the
City of Caldwell, in the county nf Canyon, State of Idaho,
or at the Chase National Bank of Now York, in the City and
State of New York, which bank is dosignuted for such P=OsSs-
The principal of Said bonds sball be paid at the office of the
City Treasurer of the said City of Caldwell, Idaho, twenty yeaD;
after the date thereof, but is , Ay be redeamed at the pleasure
of the City of Caldwell after the expiration of ten years
from the date of the issuing thereof arid each bond must be re-
doomed in the order of its number.
action 3.® Such bonds ehall,. be signed by the Maywr
nnd atte,ted by the City ClOrk and bear tho sek of the City
and be countersigned by the City Treasurer and each cupon
shall have a number corresponding to the nudber of the bond
to which it Is attached. Each bond shall, state 'upon its face
the amount for which it is issued, the dateof is2ue and
shall be made payable to ----------- ( the purchaser
thereof) or bearer. Enob bond shall also recite that i t
is issued in conformity with the provisions of Chapter 12,
Title 13, Political Code, Revised Statutes of the State of Idaho.
Section 4.- Said bonds shall be substantially in
the following form:
B 0 N 1) No ...
1, 000.00
1
UNITAD STATFS OF AMERICA
STATE OF IDAHO
COUNTY OF CANYON
The City of Caldwell 5 Per Cent CuPon Bonds.
KNOW ALii MEN BY TRESE PRESENTS: That the City of
Caldwell, a mun corToration, in the County of Canyon
Stato of Idaho, hereby acknowledges itself to be indebted, a nd
for value recnived, promises to pay to ------------------ --
or bearer hereof, the sum of ONE THOUSAND DOLLIRS ($1,000.00
Lawful money of the United States of America on the first
day of July, 1929, or at any time aftor the first day of July,
19191 at the p1pasure of the City of Caldvall, in its nume2zJ0,11
order, at the office of. the City Treasurer of the City of
Caldwell, ldahn,with interest thereon at the rate of five per
coat per annum from the date horoof payable sewi-annually
on the first day of January and July of c;acjj year at the offjy
of We City `1'rersa4.ru. of the City of Caldwell, Idaho,or at
the Chase Nationsl Bank of NOW York, City and State of NOW York
upon the prosentaton and surrender of the interest cupon;6
hereto annexed as they severally become riue® This bond is one
of a series of Ton (10) municipal. bond.s in like tenor and date,
co.asecutively from ono to ton inclusivo,cach for
Ono tho=Rd Dolla rs ($1,000.00) which the Mayor and. Council
of the City of Caldwell bave issued under and by virtue of
and in conformity with the provisions of Chapter 12, Title 13,
Political Code; Revised Statutes of the State of Idaho,and under
and in accordance with the ordinances of the Mayor and Council
of the said City of Caldwell.
And it is hereby certified and racited that
conditions, and things require& precedent to and in the issue
of this bond have been done and perforinod in reguillkar and due
form as p2ascribOd by law, and that all acts, notices, pub-
lications, resolutions, records, orders, conditions and
things required, proper or necessary to be done, passed or
entered,given or mado, prucedoAt to or in the insuiag of this
so
.� rie of bonds , have been duly, properly and regularly done
and performed as required by law; and that this bond and thi s
copies of bonds are issued for the purpose of fandinS the
pre sont outstanding warrant indebitness of the City of Caldwell
WW as appears by Ordiannee No. 125; and it is further
certiVied that the total indebtedness of the said City of Culdwdl.
inelw,ij.ae tb boad arid of 1)onds, does not exceed the
otai tutory or ooAsti Latioaal AwitRtionn, aad that 'oeforo Via
issue of this boa�id and t: sorius of boitds P'�-Ovioion has
boon amda A. full nonformity witb the Constitution and laws
of the State of Idaho , for the collectdon of an annival tarp,
aufficient to pay the interest thercon as it falls due,
am! also to provide as sinking fund on and after the year
Ar the rnyment of the principal bnruaZ althin twanty yaar i
from tho HUM of Contracting t indebtedness evid-onc,,�,i
0
i
hereby,and for the punctual paypent of the principal and Map-
est of said. municipal bonds, all the taxable property Within
the said Oity of Caldwell, and the faith and credit of the 9said
City of Caldwell are hereby arrow uably pledged.
This bond shall non b000me obligatory a t',
cartiMste of registration, endorso'd thereon is duly signed
bythe City Clerk of the City of Caldwell.
Dated at Oaldwoll, Idaho this day of ,1909.
IN WITNESS MR&P, The unicipal corporatiou of the
City of 031dweil has caused. this 'bond to be issued by its
Mayor and countopsignea by the City Trea.surer and its covpor-
ate seal to be baroto attached, all duly attestea by its City
Clam, and the cupons attached bonito to be sirgnod by the
City a asupor at caldwull Idaho, this day of
$ 1909, all of such officovs being
such offiners of said City at 00 date of t.ho delivery horeof.
Mayor of the City of O"' Idvlell.
Attest:
Clerk of the City of Caldwell.
City Trewouror of the City of Caldwell.
0 U P 0 N .
STATE OF IDAHO.
OTTY OF CALDVELL.
per value received Will pay to bearer I +
a J-,( AP
Dollars ( jawfol money of the United States of America,
on the Mot dvy of January, 1910, on presentation and Sur -
randev of this cupon at the office of the City Treasurer
of the City of Caldwell, Idaho, on at the Chase National Bank
of New York in the City and State of Now MR, place of payment
4%
for semi-annual interest on its bond number as above.
City Treasurer of the City of Caldwell,
Idaho.
section 5.- Thu idayor and Council shall give notice
in nome weekly newspaper published in said City, in four con-
secutive issues thug of , of its Intention to issue and negotiatri
said bonds and invite bidders therefor. SUG"Il bJds must be in
terms of crash, and meet be for not less than par and accrued
interest at the time of dclivery of bonds, A cortified check,
payable to tbe City of Caldwell, Taaho,qual to five per cant
of Vice amo'ant of the bid, my et accompany such bid and if such
I bid is POPOtOd the certified check shall be returned to
the owner thereof; if the said bid is , accepted the amount of
said certified check shall be credited on the, purchase price
of the bonds. After ascertaining the best terms upon and
and the lowest to ms at which such bonds can be negotiated,
the Mayor and Council shall secure the proper engraving or
printing thereof, and shall Tviv• them consecutively numbered,
and otherwise properly prepared and executed.
Section 6.- Ulan such bonds shall have been executed
as provided in Section 5 of this ordinance, they shall each
be registered by the City Clerk in a book to be kept for t'j
purpose. In such register shall be stated the nwabor, date
add amount of each bond, Oe time and place of payment, the
rate of . intarest,the nivabe2 of cupons attached and any other
proper discription thereof. Such register shall be for public
inspoction at suitsvio hours.
Section 7. Said Mayor and Council shal, from time
to time in Such n1floUnts as they shall deera best, deliver
said bonds to the City Treasurer and take and His his receipt
tnerefor, and charge him with all bonds so delivered. The
City TreasuTep shall under the =Wal supervision of said
Vayor and Council, Sell said bonds for cash, but in no case
shall suid bonds be sold for ldss than their face or par
value and the acc rued interest at the time Of dismal. The
said City Treasvrer must keep a racord of all bonds disposed
of , showing their numbzr, rate of intarest, dato and amount
0 sale, and when and where payable, which record must be
kept open foe public AsPeCtion ut all reasonable office
hours. Said, treasurer shall make detailed statements of
all his transactions relating to said bonds, to the :t'villayor
anti. Council of said City,whunever required by them so to do.
Section I.- TA re shall be ievic-'.Id ajid asse3sed an d
collected ann ally- 'upon all taxable property within the City
by la w which will peoduce a swa sufficient to pay the Werost
on said bonds as it becomes due aqd also
tho Wits" Rai osm *9
-PaoiR 4a R Y"a
PalA W14%) W0qRL:).(-'01'1'ItitutO a
Q
sdLnking fund for the paymeat of the sa Such si�kinp
f'urid
siall be kept sepor:te and dos tinct from all other moneys
and funds in the City treasury, as d shall be hold and with
the income tbeisof may be safely invested by the Mayor add
Council of the City, and sball be used at the discretion of
the said Mayor and Council of said City, to redeem said bond.
iii their numerical oTdor after ton yours from the date of
issuinL said bonds, and for no other pa pose. Such taxes
and collected
shall be levied, and assesneq,as other City taxes until Who
bonds So issueti e hall be Crally raid, including the interest
therefrom; and the faitb , credit and all the taxable prop -
rty within the City of Ca shall be and continue to be
pledged, and the proper officers of said City shall continue
to assess and collect on all the taxable property within said
City, such special Wes aud, apply them to Vx-paymont of inch
bonds until the whole thereof with interest shall be paid.
Should the taxes for Oho pall - aent of the intorost
on acy sucTi bonds at any time not be levied o,• corrected
im til"Ie to most such payme'lit, the interest shall be paid
out of any -iiorioy in the genersal exponse fund o.f said City,
and the maney so used for the payment of such interest muBt
be Tepaid to the Pond from which it was takem out of Vic
first money co- !eeted from such special taxes. Should there,
be aY surplus of said tax moneys remaining aftor the principal
of su irivaicipal bonds and all the interest there on bavo
been fully paid, then such surplus shall, be paid over to the
general fund of the City of Caldwell.
Section q.- Be it further ordained that the City
and tho laws of tree: State of Idaho arid this ordimace.
Passed the Council this Al"— day of .1.909 ®
Approved by the Mayor this da- o/ 1909.
..........................
A t 'I e s t: Mayor
?0 ' 1 — ty - 0 1,:; r k
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