HomeMy WebLinkAboutORD 17040 t
OFINANCE O. 14
AN ORDINANCE DECLARING THE NECESSITY
AND ADVISABILITY FOR THE ISSUANCE, BY TUE CITY OP-0AIDWELL,
OF COUPON BONDS IN THE SUM OF '26,059.7S WITH 70CE TO DY_
PPAY THE EXPENSE OF GRADING AND PAVING THE STREETS AND AL-
LR NT
YS AT IER SEC TIONS 71THIN LOIAL IMPROVEMENT DISTRICT NO.
1, TO CORRESPOND WITH LIKE IMPROVEMENTS TO BE MADE AT THE
EXPENfE OF THE PROPERTY OTNERS ABUTTING THE STPE17S AND AL-
LEYS IN LOCAL IMPPOVEMENT DISTRICT NO. 1; SPE01PYING THE
NUM3ER, FORM, IONTENTS, PROVISIONS, PRINCIPAL AMP RATE OF'
INTIREST, THE tANXER OF MAKIWa PAYMENTS OF PRINCIPAL AMD IN--
TEDEST; PROVIDING FOR AUNUAL LEVIES OF SPECIAL TAXES FOR
THE PAYMENT OF TEE IKTSRRST, AND TO CONSTITUTE A SINKING FUND
FOR THE PAYMENT OF TEE PRINCIPAL TaEREOP: PROVIDING FOR AKD
RITGULATING A SPECIAL ELECTION, SUBMITTING THE QUPSTION OF THE
ISSANOE OP BONDS TO A VOTE OF TEE PPPEVTY OWNE& OF TnE CITY
OT CALDWELI, AND PROVIDING POP TEM PUBLICATION OF THE NOTICE
OF SUCH ELECTION.
WHEREAS, the hayor and Council of the City
of Caldwell, on the 19th day of July, 1909, passed and
arDrared Ordinance No. 132 of said City, authorizing the
issuance of coupon bonds in the oxm of OnS,OS9.73, bear_
ink; interest at the rate of five per cent per annum, pay-
able v rhich to defray the expense of
grading and paving certain streets and alloys in Inprove-
ment District No. 1 of the City of Caldwell, and ordering
a s9ecial election, submitting the question to a vote of
V pTooerty owners of the said City. And,
WHEREAS, said election was duly held on
the 8th day of Sertoriber, 1909, aw at said election the
qeUstion, of the issuance of the above described bonds
was carried, and thereafter said bonds were duly offered
fay sale, as DTescrlbod by lea; and,
interest; arid,
WiEREAS, it al)Pftring that said bonds can be
d-i 9,
nosed of at a higher rate of interest, to-wit, not
exceeding six per cent - I)er annum; and. it ,zrt per
appearing that it is to the best interests of said
City to have said bonds sold. at once and. the i)roceeem
applied for the purl o' of paying the cost of the con-
stin.iction u.nif of paving and wirbing in Local
Improvement District No. 1, as hereafter provided in
this ordinarna, and. that anothor election be held,
SululPittiM the question of issuing said bonds at a
higher rate of interest, to the qlialJfied voters of
said City.
Lion to be hold on the 7 day of ji as
-2-
4) ,
The voting at mich eleation.shal-I be by
ballot, and the ballots used shall have printed or
written thereon substantially as follolzo:
"In favor of isming bonds to the anount, of
$26,059.73, for the pqrpose stated in ordinance No.
_�7b, and against issuinp . ariunt of
., bonds to th e o
X126,059.78 for the purpose stated in OrdJna No.
/T b.
advert im in the nwaldrull Tribune, a newsraper
printed, reeklir in the City of Caldwell, for a period
of at least folir 'ueeka, to the effect t u'Ylat tae City
m=
kk
place.
qootion 3. That it is deemed necessary and
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r
-s_
1910.
Ilayor.
Attest:
City Clerk.
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