HomeMy WebLinkAboutORD 705{
BILI,,,; iIU, 3
ORJD1NAWG'1� Nu. 0l5
" r 13Y " "GUUIvC LP N a ui� =" r
AThOhiZl!i G hi, ISaiJANCI: OF 25,UV(� ,STBcrr�i' Tl,rk t�V
i tfvl' isuND3 OF 'M CITY OF CU1tiF!fibil vG ".L'Fiid SALE; OF
S tll7' I t l f S,` tiN") f I�Ut i'Hc4 I n1'Iif v`f ['hr:rt (?C .
WhLh"AS pursuant to the ,provisions of Ordinance
Number o67, dummy adopted by tfie city Council on 1�ovember 22,
1940,' ar: election was held in the City of Caldwell on the 13th
day of January, 1947, at which election there was submitted to
(. uhf uly..qual ifie °d voters of tn4, city the proposition of the �
issuance of .p25,006 .street Improvement tioncas of the city, for
the,purl;ose of t.rovidin funds. with which to construct and lay
out streets in said city, and
vj hi ,itL° 16 sai i e:lecti, "nrr was duly and properly called
and held . in compliance ,with all �,.ertirrent provisions of' the
Constitution and Lees of the State .of Idaho,` and the results
thereof were duly canvassed ,oy, the t✓ity Council, at a meeting
Feld on January 20, 1�a47, and At was determined that the prop-
osition for the issuance of std .s 25,U0U Street lmp ovement
Bond;> hacr been I carried by a vote, of 42o in favor and 181 against
tne' proposition; and
WhT , AS thereafter said bonds were duly and I,roperly
advertised for sale arid. bids for t iie purciiase tk,e °eof received
and were awarded to 'fire First ,Kati'onal B ai.k of Caldwell and
The Continental National Bank, and Trust Gourxlan.y of Salt lake Cry,
Utah; and
).zrij all things `re quire� by the Constitution and
Statutes of ldaho to be done 1lrior to the issuance of said oonds
have been duly and lawfully done and lire is noW necessafy t(5 „ `` ” ° „ k” ''
provid.e for the issuance of said bonds and the delivery thereof
to the nurchasers;
NUIV, ThLit,FOitt,, Be it Ordained, by the Ivayor and t%ouricil
of the City of` Cald reli Canyon County, Tdaho, as follows:
Section 1, That for the purrose for which they were
voted and which is more particularly stated in the preamble
hereto, there be issued the negotiable Street Improvement Bonds,
of the City of Cald =!ell, in the yrincipal amount of , °,,25,000.
Said bonds shall be dated June 1, 1947, shall be in tLe denorri
ir.ati.on of . 1 ) 000 1 sx,a.11 be numbered 1 to 25, inclusive, :3hall
bear interest from date until ,paid at the rate of 2% per a,rinum,
payable semi- annually on the First cay; of June and December
in each year, shall sae payable as to both princiral and interest
in lawful money of the united States of Amevica at. `the office
of the City Treasurer, in'the City of Caldwell, luano, or at
the option of the holder thereof at The Fir4 k" a,tional. Hank of
Caldwell in the City of Caldwell,, d.aho, and shall become due
serially in numerical order,
,;1,000 on June l of e•ich of the years 194c to 1951,
inclusive, arid' ,
GCO on June 1 of each of the years 1952 to 1G62,
inclusive.
Section 2. That the bonds shall be signed by tfie
Ma, ;or of the City of uald i , shall be countersigned by the
City Treasurer, shall be attested by the City Clerk, and shall
have the corporate seal of the City impressed tr�ereon. Interest
falling due thereon" on aria prior to maturity shall be represented
r
by appropriate interest coupons to ve trieret,o attached, which
coupons shall be signed by the City Treasurer by his facsimile
„_ .... <, ... signature acid said Treasurer 'by the execution of gaid bonds
�M a
shall adopt as and for his own proper signature his facsimile
signature appearing on each of said coupons.
Section 3 That said bonds and coupons :hall be in
substantially he following .form
y _ g
(Form of Bond).
UNIZ D STr TE3 OF Af4 t1Crc
3Tir T�; OF 1DAH
C'Ut)NTi OF CANYON
CITY OF Cs LDV,ELI,
S'! tii i" T1� 1'r' 0 W EP4 NT BON J)
Number
The City of Caldwell, in 'the County of Canyon and
State of laaho, for value received acknowledges 'itself to be
indebted and hereby promises to pay to wearer the sum of One
Thousand Dollars (41,0,00) on the list day of June, 19. , with
interest thereon at the rate of twc>ercent (2�)per annum from
date anti- paid, payable se'li- annually on the: first day of June
and the first day of December in each year, upon presentation
and surrender of the annexed coupons as they.restectively become"
due, both principal and interest being payable at Lhe office
of the City Treasurer' at :Caldwell, Viaho, or at„ TP e First, National
Bank of Caldwell in the City of Caldwell, Idaho, at the option of
the holder, in .lawful money of the Unitcd States of America.
This bond is issued :,by said city f or the purpose of
providing; funds with which to construct and lay out streets in
F
said city, arid is one ofi a series of bands of like date and
amount and is issued in conformity with and after full compliance
with the t oristi,tution of the ata &e of Idaho and Chapter, 2I- -of'
`Title 4y and Chapter 2 of ,T tle 55 :of the Idaho (rode lfnriotated,
1:32, and the amendments thereto, and all other laws applicable
the -reto.
It is nereby certified, recited and declared that the
full faith, credit and all taxable property within the wity of
Caldwell, Idaho, are and shall continue to be pledged for and
until the full payment of the principal, of and interest on this
bond, that every reauiremeTit of law relating to the issue thereof
has been duly complied with, that this bond is within every debt
:and. other limit prescribed by law and the Constitution and that
provision has been made for V.he collection of an annual tax fully
suf'f'icient to pay the interest on this bond as i.t falls due and
also to fray the principal: hereof when due.
ltd �,`ITNES 3 ',i,hEi -;Wi, the -City of Caldwell, County of
Canyon, and State of Taaho, has caused this bond to be signed
by its Mayor, countersigned by City Treasurer and attested
by its City Clerk and the Neal of the. city affixed hereto, and
the coupons hereto attached to be signed with, ,tare facsimile
signature of said City Treasurer, as of the first day of June,
1947-
tn..- Mcpei ll
( SEAL) Ivi yor
Countersigned -
h P rment er
City Treasurer
ATTEST
,can H;- artPrtower
City Clerk
(Form 'of Coupon
humbr}r 1 Q.U?
.
The City of 13aldwel.l, in the County of Canyon an&
Stage of Idaho, will pay > to the bearer hereof the sum of
lawful money of the United States of America on the first day
of at th e office of the City`' Treasurer`
at Caldwell, Idaho, or at The First National Hank of Caldwell
in the Ci of Caldwell, .16ah8, at the option of tt�; holder,
being, six months interest then dine on its Street improvement
Bond, dated Jupe .1, 194 an €x' numbered
:t. �arrnenter
° '� City ireasurer
(ftegist,ration Certificate)
�e, the undersigned City Clerk and City Treasurer of
the City of 1u'aldwell, Ida!,o, do hereby certify that the within
bond has been duly registered in g ermanent public record books
keft in our respective offices for the purpose of such registra-
tion, in full .complia,nce.; with the provisions of Title 55, Chapter
2, Icxano Code Annotated, 1932, and laws amendatory thereof, such
reZistratLon .showing `the number, dt.zte, amount of the bond, rate
of interest tihereor , elate of maturity, places of payment and the
number and denomination of the attached coupons, and the narpes
of the purchasers and da`;e of the delivery of the bona; and the
undersign d City Treasurer does hereby' certify that before the
delivery of this bond he received the proper consideration therefor.
i1 i we have subscribed our official hands.
City Treasurer
jid.a fiarte )ow
City C er
Section 4. That for the , purpose of paying principal
of and interest on the bonda herein authorized promptly as such
principal and interest fall due, the& shall be and there Is
hereby levied in the year 1541, and it each year thereafter until
all of said bonds shall have been paid in full, taxes fully suf-
ficient, after makiug due allowance for delinquencies in collection,
to pay such principal and interest as they become` due, and said
tax is here now levied 'for the year 1 °47 in the amount.of b
mills on all taxable property in said city, and said tax of
mills or so much thereof or in addition thereto as may
be necessary is here now levied for each subsequent year until
princ ,pa.l of and interest on said eorzds have been paid in full.
The taxes herein levied shall'bein addition to all
other taxes levied by the city, and shall be levied, assessed and
collected in the same manner and at the same time in each year
as other city taxes are levied, assessed and collected. Zhe
full faith,.creuit` and all taxable property in the UAY of C a ldwell
are and shall continue pledged to the punctual payment of prin-
cipal of and interest on'said.bonds, and any such principal or
interest falling; due at a time or tir, es, at which proceeds of the
tars herein levied are not available in an amount sufficient to
pay such principal or interest, shall be paid from the general
fund of the City of Caldwell and reimbursement to the general fund
made from the proceeds of said taxes when they shall have been
collected..
'section 5. That said bonds shall be prepared and
executed as soon as =may be after the WoNion hereof and shall be
thefeupon delivered to said purchasers upon payment therefor in
accordance with the terms of sa.le'.'`
• i
Section 6. That all proceedings heretofore had in
connection with the a.uthoripation of said bonds, including the
proceedings had in ,connection; with the election at which trey
were yoted any the proceedinEs had in connection with the sale
of the bonds, a ° e hereby ratified, approved, and confirmed.
d.
Section 7. That all ordinances or parts thereof in
conflict herewith are to tree extent of such conflict hereby
repealed, and that this ordinance shall be published in one
issue of The Caidwell News Tribune, the official newspaper of
said eity, and shall t`ko, effect and be in full force immediately
upon its passaLe, approval and publication.
Passed and Appioved''this 2nd day of June, 1947.
Tvlayor
MUM
-
City Clerk -`.._