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HomeMy WebLinkAbout1926, Aug 20 Issue Refund Bonds of $25000Darin Norris Ditch Fund Labor 51.60 °`' Fred Smith " " Labor 2.10 `~" Ii, i. h`iorris Cemetery Fund Labor vrith team 5.00 `~' Fritz Hertzig " " Labor 6.40""" i:ieeting adjou rned. `~ ~ - , ~ ~ , ~f~ fittest ~ ~ = ~ ~~,G °'""~ J : ~=°. ~? ~f ~- . ~, _ x~-'' ~!~ 1 e r k . Rexburg, Idaho, August 17th, 1926. The P~egi~lar meeting of the P;iayor and Cit~y* Council of the City of Rexbt.rg, P<Iad- ison County, Idaho, to be held on t'sugust 17,1926, ~•ras adjourned to .ugust 20,1926 by the City Clerk because of TJo ~,uorum. Rexburg, Idaho, Aug~ist 20th,1926. 1`,rt adjo~r-ned regular meeting of the Mayor and City Council of the City of Rex- burg, Iadison County, Idaho, ~;ras held at the City r=a11 in said City on 1lugust 20,1926 at eight o'clock P, I.T. The meeting was called to order by the I~iayor and the Clerk r~ras instructed to call the roll. F~oll call showed the following• in attendance. I'ayor: L. Y. Rigby. Councilmen: Hugh A. 'dfright - lI. E. Poole - Feter Taylor - Ostrald Christensen. Clerk: Geo. E. Liljenquist. Absent: Councilmen Zollinger and nelson. IIr R. i,=. D. Childs, representing Childs Bond & iortgage Company, Boise, Idaho met with the Council in the matter of refunding of City of Rexburg `iatei~,=rorks Bonds in the amount of X25,000.00. Councilman Thigh A. ;fright introduced and moved the adoption o'f a esolution that the City of Rexburg issue its Refunding Bonds in the total amount of N25,000.00, dated January 1,1927, absolutely due and payable January 1,1947, but redeemable at the option of the City at any time after January 1,1937, bearing interest at the rate of five per cent per annum, payable semi-annually, said 'ponds to be issued in lieu of the following outstanding refunding bonds of said City: Bonds 3uos. 1 to 50, both inclusive, of ~?later ;'orks Refunding Bonds, dated October 1,1916, due October 1,1936, optional after ten years, total ,,;25,000.00. ^lhe motion of Councilman Vfright on the adoption of the above named resolution was seconded by I3. E. Poole, and upon roll call carried unanimously. the resolution eras signed by the iriayor and o~°dered filed. Offer of Childs Bond and IIortga~e Company to purchase said ?ievr Refunding Bonds r was made according to contract dra~ni up,::uresented, read and discussed. '"1'he offer ivas t~ .. ~_. that Childs Boizd ~ h~iortoage Compa;~y would pay ti~25,000.00 for the old issue of like sum and amount, to bear interest at five per cent per annum. The'City to ~aay to Childs Bond aild i;iort..a~e Company the sure of titi00.00 for all legal ~<~orle, blaty, bonds, calli.n~ of old bands and all oti~e-~° v.orl> in co,neetion vaith the l=one of ih:; ' o~1ds. UOllilCilmail .1. L'. ,'00.!u' :d7 (?Sed thaw she 0"'fer Of fife ~, ild iiOSiCI an0. i<0!i, vO'-"-!'