HomeMy WebLinkAboutORD 188OR.DTNANU N04 Z�
A.N1 ORDIMM PROVIDIIiC FOR THE ISSTAMM BY THE
CITY OF ^ALDVMLL, IDA-110, OF POUPON BONDS T14 THE SUM Or
TEN TFO DOLLARS 1POR THE PURPOSE OF _7JNDTNG VALU) OUT-
SMANG TNMO 'TED NISS 0 - SAID CITY, A.'WD MAKING PROM91ON
FOR THE PA: MINT OF TIM, PRTNOTPAL A INTEREST O_TP SAID BOWS.
WIMEXAS, the City of Caldwell has oatstauding
a val-jd floating iadebtedness,, inc reed for the orUnary
and aeceasary expeases of said city, amoantiag with the
interest thereoxi to a Sam in excess of tan thoasand dollars,
and invited bidders Therefor, said has ascertained the best
terms and the lowept rate of interest at which such bonds
can be Liegotiated; and
WF2RLAS, the sale of Said bonds has not yet been
MiSummated, aiid it is fouxid aijd cLetermined that the lowest
rate of interest at which sal d bonds caii, be nego Uated :b
Per cent per airinom; Now therefore,
BE IT ORDATNEID BY TT M 711r.A.YOR AND rGUhf',TL OF TER r,*TTY
CAL DWELL-
I
(2)
That for the purpose of funding said out-
standing hide btecWess, there is hereby ordered and direett-
ed to be issued negotiable coupon bonds of the City of
Caldwell in the a. of ten thousand dollars ($10
which boilds shall be of the denomination ofd w each*, shall
be iiambered from 1 to 10 inclusive; shall be dated Xanuary
1,1911, aijd shall bear interest at the rate of six per
century ( .) per annum, payable semi -annaally on the first
day of Jaiaua y and July in each year upon presentation and
0 Mm
they severally become due. The principal of said bonds
shall be come due twenty years from the date thereof, with
the qp-U
oil on the part of the city of Caldwell to redeem the
44 a4iy time after t,xpiratioii of ten years from the
t of,, such redemption of bonds to be made in iraver-
IM
The priiibipal of said boil" shall be payable
at the office of the City Treasurer, at Caldwell, Idaho,
and th..e interest coupons shall be payable at the office of
the City Treasurer, in Caldwell, Idaho, or at the Chase
National Rank, in the City aid State of hew Yor1e, at the op-
tion of the holder.
Said bonds aild coupons shall be in Gab-
staiitiaiiy the following forms respectively, to wit:
"11'E-D STATTS OF fi2MICA
STATE OF TDA1
",OULTY 0.7 CALYON
0P CALDWELL
MDILG *BDN,
KhO7' A11 10% 13Y THESE PRESEIM: That the City of
Caldwell, a municipal corporation, in the Comity of Canyon,
State of Idaho, hereby acknowledges itself indebted and for
value received promises to pay to or bearer,
the Bum of OM THOUSAND DO'LLARS, o 1e17r day of January
1931, or at the option of the City at any time after January
0
1,1921, in its numerical order, at the office of the City
Treasurer of the City of Caldwell, Idaho, together with
interest on said sum frort the date hereof until paid at
the rate of six per cetitum (61.) per atuium, payable semi-
anwaa: �y on the first day of Tanuary and Tuly in each year
at the office of the City Treasurer of the City of Caldwell,
Idaho, or at 1 �he Phase National Bank, in the City and State
of t4ew York,upon the presexitation and surrender of the int-
erest coupons here to anaexed as they severally become due;
both prl-acipal and interest payabl e in lawful W4,0_ *,y of the
United States of America.
THIS BOND is one of a series of ten municipal bonds
of like tenor and date, which the "%yor =d Council of the
City of Caldwell have issued under and by virtue of and
in strict coifformity with the proviuioas of Chapter 12,
Title 13 of the 'Political Code of the State of ldalo,and
under and in accordaitce with ordinances of the Fayor and
Council of said City duly passed and adopted.
Ah D IT IS YERSBY GaTIFIE➢ A.]ND 12 CITED that all acts,
conditions and things requi red to be none precedent to aiid
in the Issue of this bored have been done and performed in
regular and duea form, time and manner . required by law;
that this bond and series of bonds are issued for the purpose
of futiding present, outstanding valid inde btedness of the
City of Caldwell; that the total indebtednessof said city
including this bond and series of bonds does not exceed the
statutory or constit limitations; that provision has
been duly made in full coLiformity w ith the Constitution
and laas of the State of Idalm for the collection of air
anaual tax sufficiet2t to pay the interest on this bond as
it falls aue, and also to provide a sinking fund for the
payment of the principal thereof within twenty years from
the time of contracting this indebtedness evidenced hereby;
and for the puattual payment of the principal and j iv4erast
of this bond all the taxable property wit -Un the said City
of Caldwell and the faith and credit of said city are
hereby irrevocably pledged
Ih WITNESS WH'XREOF, the municipal corporation of the
City of Caldwell has caused this bond to be signed by its
Vayor and cou ntersigned by its City Treasurer and its cor-
porate seal to be hereto affixed, all duly attested by its
City Clerk, and the coupons hereto attached to be signed
by the City Treasurer at Caldwell, Idaho, this. first clay of
,Taivary, A.D. 1911, all of such officers being each officers
of sal -d -city at the date d)f delivery hereof.
(sea ) 1fa–y—or
Countersigned:
Attest:
is
(4)
(FO&M OF (1 1 0UPON
f -
A
$30-00
On the first day of (Saivary) (,Taly) , 19..,
the City of Caldwell, in the State of Idaho, will pay to
bearer Thirty Dollars, in lawful money of the United States
of fterica, at the office of the City Treasurer in the City
of Caldwell, Idalm, or at the Chase hational 'Bank, in the
City and State of New York, being the send-annual interest
thew due on its Funding "Sond dated Tanuary 1,1911, pia *.*4
1, 1 daho
Section 3. Said bonds when duly prepared in the form
aforesaid shall be signed by the Mayor, and countersigned
by the City Treasurer acid attested by the City Clerz, with
the corporate seal attached thereto, and the interest coup-
original or
on* shall be executed with the sigiature of the
City Treasurer - Said bonds shall also be registered by
the City Clerk in a book to be kept for that purpose,
In which shall be stated the number, date-and amount of
each bond, the time and place of payment, the rate of int-
erest, the number of cz)upons attached, mid atjy other proper
description thereof.
Section 4. When said bonds °have been executed and
register as aforesaid, they shall be delivered to the
purchasers thereof upon payment of the purchase price there-
for, and the proceeds shall be simultaiieously applied to the
payment and cancellation of the outstanding indebtedness
authorized to be funded thereby-
Section 5. That to provide for the payment of the
interest on said bonds as it falls due and to constitute
a oinking fund for the payment of the principal there of at
maturity, there shall be and there is hereby levied upon all
the taxable property in the City of Caldwell a direct minual
tax sufficient to produce in each of the years 1911 to 1.930
(5)
inclusive the sum of eleven hundred dollars (Ap1I00),
of which $600 shall be for the interest on said bonds,
and $500 shall be placed in the sinkin_- f for the re-
demption of the principal of said bonds.
Section 6. The provisions of all former ordiaari ces
which may be iii conflict with the provisions of this ordi-
naace are hereby repealed, and this ordinance shall tal
effect from acid after its passage, approval and publication.
Passed by the qouncil
Approved: -
Mayo r