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HomeMy WebLinkAboutORD 293CHI)111,>IICL Tao. _ 111 OR..DIN1`NC.`L+3 1 OVIDING 'OrR 1 BO JID .k ILCTIUTd 01 TEL CITY OF C111D'vIELL, CAiJYON COUTd`1'Y, SI "ATE OF ID!A10, 1 TEE IUIi!US:h OI'' SULb,iIl "J'IPiG `i'0 'THE JJI-1 1 lt;I) I:LLUTURS, 'vIiO A,iE T T m T i ,- v 1= :<`�'ii`lL;i,S, GI SAID CIJ.I' i[il": �:IULOlI0I1 UP I;SUlI1G I.tUTulC]:.�i1.L Tri 4f 7'(` COUi U11 T)OIIDS Oil SAID CI'i'Y Ili! T_iL 1;Ui. U 'ThOL &AM) DOLT -1 1'U_? 'T11L FU 'T:Uti1 01 + +' 11110viDIi1G ?UN-O I'Ur: 'i'i3Y: 1U!:Ct1h E. OF i BUl1DT11G ,:1'1'1 «i;J TIE r[i .Ch '­_L U_i CUiuS' .UC''IUii Ol±' A ±UDLIC BUILDING OR BUILDINGS VOR 'TH11 CITY OiP C.- :: >ID':!iIZL, 1'U lt: USL. - U 1 >U 1s.I71'IICIp'iL kiWIII'_'1iL 1iIID DlU1Tat:.S HOLE, :R1_D L'u:h '1'11:11 1'URTIII HIIIG AUD 1 .:;,U1Fi, CIJT Cl! THL ; 1; E ; 1111:D 1::UVI_1111G 1'0 '1'111: IS' "UI1'1G 011' SAID BONDS, 111I;D TEL 1'AYI: _h111' UP i'HL+' IET_E ?L 'T'HIa::LOIT, 1U0 'ThL C - B"t..'I"IU1" , 011 �SiL!IHEIG I+`UDD l'Ui: Y.11U PAYI;d.,14'1' 02 THL 11- .lDC11-'Z L ' _IdLrr{EOII' III i'III i;APdldlll I OVIDLD BY L_ d. BE IT O iii +:IT1I!) BY `T' I L LAYOIi Ali) UUUIICIL 01' THE CITY OF CiiLDi4!l LL: Section 1. 'That it is deemed advisable by - the Layor and Council of the City of Caldwell, Canyon County, `Mate of Idaho, to issue T~/iieTy , municipal_ coupon bonds of._ City in the sum of a,y Thousand Dollars, payable at the office of the City Treasurer of said City twenty years after the issuance thereof, or before twenty years and after ten years after the issuance thereof at the option of said City, and bearing interost at the rate of five,/ per cent per annum, payable semi - annually at the office of the City 'Treasurer of said City, or at the Chase Ivlational Bank of Eow York, in the City •nd State of New York, at the option of the holder of such interest coupons, for the purpose of providing funds for the purohase of a building site and the purchase or construction of a public building or buildings thereon for the City of Caldwell, to be used as a 1;unicipal hospital and 11 Home, and for the furnishing and eLiuipment of the same; provided, however, that tiro- thirds of a qualified electors of said City who are taxpayers therein, vot2nt a special bond election s herein provided, shall assent - to the uance of said bonds and the creation of said indebtedness.. 1. Section 2. That a special bond election xkx is hereby called and shall be held in the said City of Caldwell, in Canyon County, State of Idaho, on the6V�6a day of for the purpose of voting upon the question of issuing such municipal coupon bonds., in the manner and amount and for the purpose as herein provided, at which election the polls shall be open and remain open, and the election conducted and held in the manner as other city elections as provided by law. That at such election none but r:ualified electors, who are taxpayers in said City, shall be entitled to vote, Section 3. That the City Clerk of the City of Caldwell is hereby authorized and directed to give at least thirty days notice of the said election herein provided for, in the Caldwell Tribune, a newspaper published and in general circulation in said City, and which is hereby dessignated for such purpose. Section 4. That all voting at such election shall be by ballot, and the ballot used shall be substantially as follows, to-wit: "In favor of issuing bonds to the amount of 'Thousand Dollars for the purpose stated in Ordinance Vo..;"?F ",and "iigainst issuing bonds to the amount of 1 Thousand Dollars for the purpose stated in Ordinance Do. 11 . Section 5. That, upon canvaqQing the returns of said election, in case two-thirds of the qualified electors, who are taxpayers in the said City of Caldwell, voting at said election, shall have assented to the issuing of such bonds and the incurring of the indebtedness thereby created, for the purpose herein provided, then the luayor and Council of the City of Caldwell shall proceed to provide for the issuance and sale of ouch bonds in - the manner jorovided by law. Section 6. That said bonds shall be issued in denominations of One Thousand Dollars each, numbered consecutively from 1 tojO, both inclusive, and shall have attached thereto 'appropriate interest coupons evidencing the several interest payments as the same shall become due, and both principal and interest shall be made payable in Gold Coin O f the United States of America, and each bond shall be redeemed in the order in which it is numbered. 2, Section 7. That there shall be levied, assessed and collected annually upon the taxable property of the City of Caldwell, Canyon County, State of Idaho, special taxes,in addition to the other taxes authorized by law, which will produce a sum sufficient to pay the interest on such bonds each year as the same becomes due, and also sufficient to•produce the sum of Dollars each r on and after the year and until such bonds shall have been fully paid, which last mentioned sum shall constitute sinking fund. for the payment of the principal of said bonds. Such sinking fund shall be keyt. and distinct from all other moyAgs and funds in the - city seasury, and eventually used for the payment of the principal of s6id within twenty years from the time of the issuance of the same. Such tomelal taxes shall be levied, asseusea and colledted as other city taxes, until the said bonds so issued-, Und. the interest thereon, shall have been fully paid. The faith, credit and all the taxable,property within the limits of the said City of Caldwell shall be,and continue to be pledged, and the proper officers of said City shall continue to levy, assess and collect on all the taxable property within the limits of said City such special taxes as shall—be-required-and:-Upply the same, to the payment of such bonds, and the interest thereon, until the whole thereof shall have been paid. Should such taxes for the payment of the interest on any such 'bonds at any time be not levied or collected in time to meet such interest payment, the said interest payment shall be , made out of any money then in the General Expense Fund of said City, and the money so used for such payment' of interest shall be reTiaid,into the fund from which it was taken, out of the first money collected from such special taxes. Passed by the Council this 1 day of.�L, lqlj Approved by the Liayor this 1� day of PeQAWAb4X 191 JO attest: Yayor. Qit5r/' J.