HomeMy WebLinkAboutORD 36An ordinance to submit to the qualified electors of the city of
honds
!"a.ldwe- 7.,the c ;uE ;.•tion of is:u i /Aof said r:ity for the
sum. of ,, thousand( t10b) dollars, for the purpose of -1 ro-
vidinv for tile. construction and maintenanoe of necessary water
works,and supplying the same with ivr- iter,and to rovide for time
i ssuiny; of said bonds , nnCL to prole, de for the 1)- �.yr2ent of the ' it'�kt Br-
est thereon,and to eteate %4 .sin.ing fund for the pa`rment of the
princiy?�.1 thereof by the levy of municipal taxes in said city of
Calcltaell , Iclaha .
Whereas,the city of Caldwell, ?daho,is without any adequate
ter su,�r ;i ;nand the inlmabitants t_ +,ereof lack the convenientse derived
-rain a suffieient supply,and s••,id city is in constant risk from
u
the ravages of fire,a -nd
Whereas the common council of the city of raLldvrell,lda.ho,deem
it advis-ib_le to issue anti sel the coupon bonds of said (itwr in fire
' sum of thousand c',ollars, a sha-: within the
statutory li:>nitatt,ipn
ihnoan such ink- ebtednprs,for the purpose of
constructing and rm ntAind n such necessary water works and supply
ing the same oliti, water,and
V;hereas,authority to issue such bond„ has peen provided by an
act of the legislature of the state of Idaho,entitled "An Act to
provide for the issue and sale of �mknicipal coupon boads,by inccrpor-
,
ated cities and towns;fo°r, the application of the funds derived
frok the sale theveaf;and to provide for time payment of the rrinci-
pa.l hnci interest thereof. "approved February 2nd,1899,
e it ar tai r.eci by the imayor and k" cnu- it of , the city of
Caldwell;
Section 1.That there shall be issued by the city of Caldwell,
Id�.ho,rs 'Inicipal coupon bonds to the arxount of
thousand
dollars to bear interest at the rate,a.nd to be issrhed
for the purpose,and to be paid b?* means of a sinking fund to be
created .as hereinafter prescribed;i tt9ro- thirds of the
qualified electors of said city *,who are tax payers, voting at n s e
p
cial elecation to be held as herein provided shill assent to the
issuin[, of such bonds.
Section 2.Said bonds' be issued in 41#,portinatiorjSof w _
eRo;l,numhered consecutively, ;�.ndshall
bear r,er cant interest payable se^i- arnualiy on the first
days of Tanuary a.nci July 0R0k- evicienr,eG{l, ;T i t1tP.f PSt ralTOn3 attached
to sur.h honds,both principal and interest i,o be rmde pa, +able in United
tes gold coin of or enttivalerat to the i?re:ent standard of i.reiCht
and f_neness,and the interest payable at the option of the holder of
I'my such bonds at the office of the city treasurer of the oi'ty of
Cnidtivell , 1P1 Canyon county , Td8ho , or at the
banit of New ork,in the, city and state of l ;et°r vork,which hank is
designated for such purpose.The r rincipal of said bonds sh%11 be
7ayable -,t the office of the City 'tl °easltrex' of file said city of
C- 1 - 7 _clwell,ldalip,i:wenty years after the date thereof,but nay be redeemed
at the pleasure of said city of CaldWell at any time after the exnir-
;ttion of ten years from t' e date of
/� - anc
bond
t rust be redellIed in tale order it is numbered.
Section 3. said bonds sh:,.11 lie issued for the followin,
nurnoses :To provide for the construction and Fiaintenance of ner,esssry
water works for said city of ,Caldwell , and stipply i nC the . same with water
Section 4.`_"here shal). he levied and assessed Amd collected a
9.11y u,?on all! the taxable property within the sa.icl c=ity of Caldwell,
�. special tax,in addition to the other taxes; Rlithorizeci by law,which
will produce a sum sufficient to pN.,r the interest on such ponds each
+e. r =as it l)-codes tiue;r +.nd also sufficierLt to , . ^oduce the sum of
fifteen hundred( 154G.GC) dollars per vea and after the lrea.r
19 o until, such bor_ds s h_,iii he ne.id,`-hich -hall constitute a kinking
._._
3.
fund for the p�Lyment of the sarae.Such sinking fund shall be i *ept
separate ".nd distknet front all other moneys and funds in the city
treasury , antl shall be held and- with the income thereof may be safely
invested by the taaNyor P.nd council of s>i.id city,and sltal_ °l be used
m.t tale discretion of said mayor and council to redeem said bonds
in their numerical order after ten ;rears from the date of issuing
said bonds,and for no other purpose.Such taxes shall be levied,
as messed :-.nd collected as other city tFLxes until the bonds so issued
shall }',e fully paid,includirna the interest thereon; and the faith,
credit,and all the taxable property within the limits of said city:
of Caldwell shall be and continue to be pledged,and the groper
officers of said city shall continue to e.ssess anc? collect on all
the taxable property within the limits of said city,such special
taxes and apply them to the payment of such bonds until trte rYtale
thereof . ;ith the interest shall be Staid.
ltottld the tax for the ptiynment of the interest on any such
bonds at any time not be levied Or collected in ti °7e to meet Such
payment,the interest shall be paid out of any money in the General'. qdjjr
xpense fund of said city ,and the . s^ used for Such payment
of interest must be repaid to the fund from which it was taken out
of the first I:aDney collected frog. such special taxes.
:section 5.A special election shall be hc-ld in said city of Caldwell
drw"d, f dc-�, /9' 1
for the purpose of voti -lIg upon the question of issuing such boRds,at
which ele -Ct.i on ti:e ; ol.ls sh 1 b3 O' ?enet` allli i'ert�.i -1-0n, f01' tale s;-19
1 P.Yl�ti1 Of time as other eleetions,f nd the election shall be conducted
in the "s. manner as; other city electaons,, slteh el.ec ;ti_On, none
but (,,n%.lified electors who are tax payers shall be entitled to vote.
°section 6.The Cites* Clerk is hereby directed to give at le��St
thirty days notice of the eleetion provided for in section 5 of
this orc,? Hance , in the
Caldwell. ^ribute,a ^neWS11a" per and of
general circulation in said city)which is hereby designated for
such purpose.
f
S -tioll. '?.The Voting at sue h, muritt 1) e by 11 al 10 t � t Y1 e
o(.
used all be substantially Is f ol 10YM tnwit:"Tri favor of
2a eo
`Y-Pissuing bonds to the i.riount Of F i thousand dollars
I for the ,)urpose stated in ordinance 'To. arjd Aan
_..inst ismilng
bonds to the amount of thousand dollars for
in ord.in-elace,
- ertion B.Tf,upon canvassing the returns of said e1. P Ctio n ,
taxr)�� in said city
/ kWoo.-t4irds of the ('U�.lified r,.�ors who ire -yers
t o
f CvLldwei I - � rig R surh ele(Zon assent il the iscjufi of such
/Zonds,, P.nd tlin im-Lirr-inS of t1iltindebtedness thereby create(!, for the
ti
Ur . poses n o, i I do
Kkores-,iid,the cou oP s�iieL city F�hall to provi
'4t 0 r 6te sale of such bonds according to law.
r .
of
ss p d t al divell Idaho,
r, th e c t y o
this //
of 1111.1y,1001.
/0
A-,)r,rcvocl by the F-jittejp of the city of Cal (1�rell,idaYlo,t'.lis
d IT Of July ,1901.
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