HomeMy WebLinkAboutORD 1811 6
ORDINANCE NO
Al 5 01 )114AVCE TO PROVIBE POR THE ISBUE�
AIYD SK;jLING OV CO Oh BOWDS Off' T F CITY 010 CALDWElaw, 1DAHq
4
TH THR SUM 011' T!U11WEN THOUBAITO BO RS FOR THE PURPOSE Ov
It
PAYING THE COST APO EXPENSE OF ThE 1UPROVEMENT IN LOCAL
LATERAL SEWERAGE TMPROVIGIENT DISTRICT NO 3 OF SAID CITY,
8PXC1YYTNC THE NUMBER, vaam, CONTENTS, PROVISIONS,
jl PRINCIPAL AND RATE OY INKMEST, PROVIDING POE THE ANNUAL
LEVY OF SPECIAL TAXES FOR THE 1AYWi OV THE INTEREST,
I 'T
ABE TO CONSTITUTE A SINKING FUlfl) FOR TH11', PAY INN OF THE
I- PRINDIFAL THEREOF
HE IT OHDAINED BY THE MAYOR ANb COUNCIL OF THE CITY 01'
Section 1.® That coupon bonds of the City of Caldwell, Idaho, be
iusued in the sum of hIeVen Thousand Pollars for the
-p 'Id expellSe of the 11nPrOvellIelits
urpope of paying the cost V.f
in gall Lateral Sewerage I%Tovement District NO-3 Of
the city of caldwell, Idaho, as provided in Ordinance
No. 17 of said city.
Section 2.- That the bonds provided for in Section 1 of this ordi
nance shall be eleven in nu.iabell afid, etiich of them shall
be for the princiP21 sica of One, Tbousand Dollars as
near as p7acticable; they shall be known ao"Spacial
Assensmont Saweraee Itaprovelient :Bonds teal District
No. series 1910, and shall.be numbered consecutively
from one to eleven inclusive. Each of said bonds shall.
bean interest at the rate riot to exceed. ej,,plit per cent
per annuin, payable semi-annRal& On the first day of
January and the first day of July of each year, at the
ofyiee of the city treasurer of the City of Caldwell,
Idaho or at the Chase National Bank of New York in the
If
City and State of New York, at the option of the bolder
of seAd coupons. Both the principal and interest of said
bonds shall be paid in United POWs Gold Ooin. Said
bonris shall be made palAavle ton years after the date of
issue of said bonds, and each bond, sholl be redeemed in
the order in which it is nivabered. The principal of
said bonds shall be paid at the office of the city
treasurer.
Section 3.- There shall be attached to each Of Said bonds semi-anniuA
interest coupons covering theinterest expressed in said
bonds from the date of issue until paid. Such bonds shall
be signed by the Mayor and attested by he City Clerk
and each bond shall have the seal of the city affixed
thereto. Said bonds May in lieu of being so signed
have printed thereon fac-simili of the signatures of
said OVACOM; each bond shall state that it is issued
in paymeut of the eo2t and expense of the improvement
made in "Losal lateral Sewerage Tmprovement District
No Each coupon shall. have a nuuftoor cor"responding-
to the number of the bond to which it is attached. Each
bOJI'd FlIL&II state upon its face the amount for which the
same was issued, date of same, and shall be payable to
or bearer.
principal,
Section 4.- Each bond shall provide that the sum named therein
and theinterest thereon, sbull be payable out of the famal
local improveneat fund created, for the payment of the
cost an(i e)�pense of such improveiiie". and not otheT_wise.
Each bond shall further provide that: " the bolder of
therefor
ary such bond QB11 have no claim.aga ins t the City of
Caldwell in any event, except for the collootion of the
special assessirient made for the woTk of improvement for
Which S&id bond was issued, but the remedy in case of non-
payment sha'll. be confined to the enforcement of such
assessment". The Vords embraced in the forgoing quotation
0
malls shall be Plainly writteV or engraved upon
the face of each bored no jEsued.
Section 5.- Said bonds shall be in sUbstaatially ih the following
fo rm:
Bond No 1000.00
UNITED HTATNS OF KKERICA
STATE OF IPAHO
COURTY OF CAVYON
CITY OF CALDVELL.
Special AssessmeLt Sewerage Tmproveme"t Bonds, Lateral
District No. 3N.
per ceitt Gold Bonds.
KNOW ALL MEN EN THESU PUNHINTS: That the City of
Caldwell, a muni0pal corporation in the County of Canyon,
State of Idaho, hereby acknowledges itself to bu inaebtV.
and RP valve received prone es to pay to
or bearer the sum of One thousand Dollars in Gold Coin
of the United States of America on the frist day of
July, 1920, in its numeTical order, at the office of the
city treasurer of the City of Caldwell, Idaho, with intent
I
thereon at the rate of
- per cent per annum from th e
date hereof in Gold Coin, payable on the first day of
January and the first day of July of each year at the
office of the said city treasurer of the said City of Cald-
well, or at the Chase N6tional Bank of Slew York, in the
City ano State of New YoR upon the presentatian and
su---oonder of the interes4 coupons hereto attached as they
Severally beoonqe ou.e.
This bond is one of at series of bonds in like tenor
"Ind, 0-ate, D'Umberod XXMMAM colwocutively new one to eleven,
inclusivo,each for the sutra Ur One Thousand Dollars, Which
the Mayor and Council of the City of Caldwell have isWed
under and in accordance with the ordinances and resolutions
of the Mayor ard Poupoll of the City of Caldwell, Idaho.
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And it is hereby cAtified and recited that acts,
conditions and things required, precedent to and in the
issue of this bond have been done in regular and due forin
as provided by law, and that all. acts, notices, publica
I
tiono, resolutions, records orders, conditions and thinns
requi-ea, proper or necessary to be done" passed or entered,
given or maue, precedent to or in the issue of this series
of bonds, have been duly, properly and regularly done and
performed as required by law; that this bond and this
series of bonds are issued for the purpose of providing
for the payment of tie cost and expense of the improvement
in "Local Lateral Sewerage Improvement DistrictSO AD
that before the issue of this bond and this series of
bonds� provision has been made in full Conformity With the
constitution and the laws of this st for the col 3ection
PRY
o f a ll ar'jjjjaj tax sufficient to eavey the interest thereon
as it fait due, and also to provide a sinking fund on
and after the year nzy for f th
the payament of �
principal hereof on the date of maturity.
This bond is issued in paynont of the cost and expense
of the improvement in u Local Lateral Sewerage Improvement
District No. 3 , and the principal sum named herein
and the interest thereon, shall be payable out of the
local QWrovement fund created for the payment of the cost
and- expense of such improveiaent and. not otherwise.
The nolder of this bona SAM WO no Claim
against the City of caldweil in any event, except for the
col action of the special assessment made, for the work of
improvement tor which such bond wan issued, but the
remedy in case of nonpayment shall be confined to the
onforceoient of such assesmaerl.t.
Dated at Caldwell, Idaho, July 1, 1910.
IN BITNASS VMVO]W, ` l'i'fe injinicipal corporation of
the City of MIMI!, Who, has caused this bond to be
signed by its Mayor and attested by its City Clerk, acrd
the corporate seal to be hereto fittacked , and the coupons
attached. hereto to be sig-jed by the lday�?r and. attested.
by the City Clerk at Oaldwe-i.]., Idaho, this _ day of
............... 1910.
Mayo -v of the City Of' CaldVV6111, Idaho.
Attest:
Clerk of the City Of' Caldluell, Idaho.
No . .........
0 0 U P 0 N .
BTA'tE OF IDAHO
CURY 011' CA. LDVR�'LL.
Po7 value received v1l] pay to bea-r°P.r
Dollars in Gold Coin on, the _ day of 19_-
on presentation. and surreader of this coupon at the office
of the City Treasurer of the City of Caldwell, 'Idaho,
or at the Chase Nation.Rl. Bally. of New York, i1i the City
ajid State of New York, place of payment oj semi-arinual
interest on its bond nimbered, as above.
Mayor of the City of Caidwell, Idaho.
A ttest.
Clerk of the City of Caldwell, Idaho.
8 6.- The Mayor and council shall give notice in, the official
r).0'ffBPa'j_)C r Lq.id City, il-) f0U.1' COnsecUt-Ne
, pub1iShed. ire, S - 1
tTi v reof., o jts ijiltelitiort to issue such bonds and
_
invite bidders therefor. Such bids i�iust be 1n, terms of
cash and must bo- for not less than par value, net. After
ascertaining the 'best terms upon and the best teMns at
0
which such bonds can be negotiated, , the Mayor and. council
.91MI-1. secure the proper engraving or printing thereof,
and have them consecutivelylumbered from one upward
and, otherwise properly.6epared and exacutea, and they
shall sell the saho at not less than their par value, net,
and pay the proceeds to the contractor as by law and the
ordinances of the City of Caldwell, provided.
SectionT The city troasurer shall pay the interest on the bonds
authorized to be issued under U&S ordinance out of said
" Lonal Lateral Sewerage liflproveme+tt District No. 3" fund.
Vhenever there shall be sufficient money in the aforesaid
fund oven and above sufteient Ar the payment of the
interest on the unpaid bonds, the treasurer shall call
in and ray such bonds: FlOVIDED, that such bonds shall.
be caAd. in and paid in their numerical order: FROVID13)
FURUIRR 1� that such call. shall be made by publication i n
the oAcial newspaper of the said City of Caldwell,
in ono issue the oeof, on the day following the delinquencgy
zkoromf of any installment of the assessment, or as soon
thereaftoy as practicable, and shall state that Bonds No®
__ ( giving the serial nuiabor or numbers of the
bonds called) will be paid on We day the next interest
coupons on said bonds shall become due and interest on
such bonds shall cease on such date®
Section R.- There shall. be levied, assessed and collected annualTY'
upon the lots or parcels of land liable for the cost
and expense of such improvement in said Local Lateral.
Sewerage Improvement District No. 3, a special tax in
addition to otter taxes authorized by law, which shall
produce a sufficient sum to pay the interest on said bonds
each year as it becomes due; and also a sufficient slum
to produce the sum of
Dollars per year, on and after the year 19_6,___, until
such bonds shall be paid, which shall, constitute a
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to
sinking Md. for the payment of the same.
Section 90® Be it further ordained that the said City of Caldwell
hereby agrees to and with the persons whoxxxm are, or at
any time may be the holders of suctA bonds, or any of the
coupons attached thereto, that it will punctually pay
oaid bonds and coupons according to the terms thereof, and
that the said City of Caldwell will at all times faith-
fully carry out all of theprovisions of law and. this
ordinance, foT the benefit of such bonds and the coupons
atiuched, and any and all holders thereof, including the
I
levying and collecting of taxes, to pay the interest on
such bonds and to constitute a sinkftng fund as required.
by the constitution and the laws of the State of Idaho
and this ordinance.
Section l.C.® That the sum charged. against each of such lots or
parcels of land. may be paid in equal annual installments;
the number of Web installments shall be equal to the
number of years which the bond issued for the payment o f
the improvements may run, with interest on the whole sum
so charged at the rate of eight per cent per annum.; and
each yerar thereafter one of such Installments with The
interest thereon, and all the installments thereafter to
bcome due, shall Ne collected by levying an assessment
and certIfyint to the tax collector as a special assessmelt
for improvements to the amount of such assessment, an d
shall be by him placed on 'nis assessment roll for col-
lection, and collected in addition to the tax Ar general
revenue purposes. The said. assessment shall be subject
to the same penalty and collected in the same manner as
other city taxes.
Section IT.- That the owner of any lot or parcel of land charged
with any sucb assessments may redeem the saNs from all
linbilities for each assessment by payiag the entire
assessmexa charged against such lot or parcel of land,
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without interest, within thirty days after notice to 'him
of such assessmient, which notice shall be given an follows:
the city treasurer shall as soon as the assosswent roll
has been placed in his hands for collection, publish a
notice in the official newspaper of said city for ten
consecative days , or two consecutive weekly issues, that
the roll is in his hands for collection and that any
assessment therein may be paid at any time within thirty
days from the date of the first publication of such
notice without penalty, Interest or cost. The owner of any
such lot or parcel of land may redeem the same from all
liability of such assessment at airy time after said thirty
days by paying all installments of said assessinnts,
re-mair-Ing unpaid, and obareed against such property at
the time of such payment with interest thereon at the
rate of eight per cent per annum from the date of
Isssuanne to the time of maturity of the last installment.
la all cases where any installmeRl assessment or any
installment thereof is paid as herein provided the same
stall be paid to the city treas and all stuas so
so I D
'IV
paid Hhall be applied "IN, to the payment to the cost and
expense of such improvement and. the redemption of the
bonds issued therefor.
Passek by the Council of the City of Caldwell, Idaho,
tPisQQ day 404---, 1910.
Approved by the Mayor of the City of Caldwell, Idaho
this 6 'day of
Mayor of ?Ce"032ty of Caldwell, Idaho.
Attest: X
of the City OfCaldwell, 16ah.o