HomeMy WebLinkAboutORDINANCE NO. 229 TRUNK SEWERDaniel Ricks- Notary Public
Residence, Rexburg, Idaho
My Commission expires Nov. 22, 1921
ORDINANCE NO. 229
AN ORDINANCE SUBMITTING TO THE QUALIFIED ELECTORS OF THE CITY OF
REXBURG, MADISON COUNTY, IDAHO, WHO ARE TAXPAYERS THEREOF, THE
QUESTION OF ISSUING MUNICIPAL COUPON BONDS OF SAID CITY FOR THE
PURPOSE OF PROVIDING FUNDS FOR THE CONSTRUCTION OF A TRUNK
SEWER IN THE AMOUNT OF SEVENTY THOUSAND DOLLARS ($70,000.00). TO
DESIGNATE THE PROVISIONS TO BE MADE TO PAY THE INTEREST ON SUCH
BONDS AS IT FALLS DUE AND ALSO TO CONSTITUTE A SINKING FUND FOR
THE PAYMENT OF THE PRINCIPAL THEREOF WITHIN TWENTY (20) YEARS
FROM THE HOLDING OF SAID ELECTION OF THE QUALIFIED ELECTORS, WHO
ARE TAXPAYERS OF THE SAID CITY, AND FOR THIRTY (30) DAYS NOTICE
THEREOF TO BE GIVEN IN A NEWSPAPER PRINTED AND PUBLISHED IN SAID
CITY. TO PROVIDE FOR THE BALLOTS TO BE USED AT SAID ELECTION. TO
PROVIDE FOR THE FORMS OF SAID BONDS AND THE ADVERTISING AND SALE
THEREOF, AND TO APPOINT JUDGES AND CLERKS FOR SAID SPECIAL
ELECTIONS.
Whereas, the City Council of the City of Rexburg, Madison County, Idaho, deem it advisable to
issue coupon bonds of said City to construct a trunk sewer for said city.
Now therefore, be it ordained by the Mayor of said city of Rexburg, Idaho and the City Council of
said city.
Section 1: A special election is hereby ordered and called to be held in the respective ward of
polling places, hereinafter designated in the city the first day of October 1919 beginning at the
hour of nine (9) o'clock a.m. and closing at seven (7) o'clock p.m. for the purpose of submitting
to the qualified electors who are taxpayers of said city, the question of issuing the municipal
coupon bonds of said city in the amount of seventy thousand dollars ($70,000,00) to bear date of
October 151, 1919, for the purpose pf providing funds to construct a trunk sewer in such city.
Section 2: All persons who at the time of said election are qualified electors of said city of
Rexburg, Idaho, who are taxpayers in said city, and no other, shall be qualified to vote at said
election.
Such election shall be conducted as other city elections. The voting at such election must be by
ballot and the ballot used shall be substantially as follows: " In favor of issuing bonds to the
amount of seventy thousand dollars ($70,000.000) for the purpose stated in ordinance no. 229"
and "against issuing bonds to the amount of seventy thousand dollars ($70,000.00) for the
purpose stated in the ordinance no.229."
Section 3: The clerk of said city shall give thirty (30) days notice of such election by causing the
same to be published in the Rexburg Journal, a newspaper printed and published and of general
circulation in said city and by posting notices of said election at the places where the election is
authorized to be held, and in two other of the most public and suitable places in said city and shall
also give notice by publication in the aforesaid newspaper in five issues thereof, of the intention of
said city council of said city to issue and negotiate the bonds described in this ordinance in the
event the issuance of said bonds shall be approved by the electors, and inviting the bidders
therefore, which said election notice and said bond sale notice shall be in substantially the
following forms, repeatedly, to wit:
Pursuant to the laws of the State of Idaho and Ordinance no. 229 of the City of
Rexburg, in the County of Madison, State of Idaho, notice is hereby given that a special
election will be held at the respective wards at the polling places hereinafter designated
in the city of Rexburg, Idaho, on Wednesday the I' day pf October 1919, beginning
at the hour of nine (9) o'clock a.m. and closing at the hour of seven (7) o'clock p.m. of
said day, for the purpose of voting on the question of the issuing of municipal coupon
bonds of said city, bearing date the first day of October 1919, in the amount of seventy
thousand dollars ($70,000.00) for the purpose of providing funds to construct a trunk
sewer for such municipality.
All persons who at the time of said election are qualified electors of said city of Rexburg, Idaho
and who are taxpayers of said city, and no others shall be qualified to vote at said election. Such
election shall be conducted as other city elections. The voting at such election must be by ballot
and the ballot used be substantially as follows: "In favor of issuing bonds to the amount of seventy
thousand dollars ($70,000.00) for the purpose stated in Ordinance No. 229."
Dated at Rexburg, Idaho this 29' day of August 1919.
City Seal R.D. Garner
City Clerk
First Publication: August 29, 1919
Last Publication: September 26, 1919
Notice of Municipal Bonds Issue.
Sold by the City of Rexburg, Idaho.
Public notice is hereby given that the City Council of the City of Rexburg, Idaho intends to issue
and negotiate municipal coupon bonds of said city in the aggregate amount of Seventy Thousand
dollars ($70,000.00) to provide funds to construct a trunk sewer for such municipality.
Said bonds will be issued in conformity with the provisions of Ordinance No. 229, of said city
adopted and approved the 29' day of August 1919, and subject to the approval of qualified
electors of said city voting on the questions at an election to be held in conformity with said
ordinance. If the issue of said bonds to be approved by the electors as aforesaid, said bonds will
bear date October 1, 1919, and will be redeemable at the option of the city at any time after the
expiration of ten years from the date thereof, and will be absolutely due and payable October 15`
1939. They will consist of seventy bonds of the denomination of One Thousand Dollars
($1,000.00) each, numbered consecutively from one (1) to seventy (70) inclusive principal and
interest being payable at the office of the City Treasurer or at Kountze Bros., Bankers, City of
New York, State of New York.
Alternate proposals for the purchase of said bonds are invited, said alternate proposal being made
on a basis of bonds bearing interest at the rate 5% of 5 1/2% or 6% per annum, payable semi-
annually on the first day of January and July of each year.
The Councilmen of the City of Rexburg, Idaho will up to and involving the 15' day of October
1919, at the hour of eight (8) o'clock p.m. at the office of the city clerk, receive sealed bids for
said bonds. All bids must be accompanied by a certified check for ten per centum (10 %) of the
amount of the bid and must be unconditional. Bidders to take up and pay for bonds within three
(3) days from date of sale or check will be forfeited.
The City Council of said city reserves the right to reject any and all bids, after ascertaining the
best terms upon and the lowest interest at which such bonds can be negotiated. The bonds will be
sold for cash and for not less than their face or par value and accrued interest at the time of
issuance by the City Treasurer under the general supervision of the City Council.
The City Council of the City of Rexburg, Idaho
By J. L. Ballif, Jr.
Mayor
Attest: City Clerk
First Publication: Sept. 19, 1919
Last Publication: Oct. 10, 1919
Section 3a: That the said election shall be held in said city and vote upon said question taken
within the respective wards of said city at the following designated voting places:
First Ward- City Hall
Second Ward- Public School House
Third Ward- Bench Building
Section 4: The following named persons are hereby appointed to act as judges of said election, to
wit: First Ward: Judges of Election:
T. E. Ricks Sr.
M. R. Evans
Fred Smith
Geo Liljenquist- Clerk
Second Ward Judges of Election:
Frank Turner
John X. Anderson
Peter Anderegg
Harriett Ricks- Clerk
Third Ward Judges of Election:
Geo N. Atkinson
A. J. Feljestrom
Mrs. A. Heath
Geo Ballif- Clerk
Section 5: In the event that the issuance of said bonds shall be approved by said electors then by
virtue of and in pursuance of Chapter 159 of Part 1 of the Compiled Laws of the State of Idaho,
and subsequent amendments thereto, there shall be issued the municipal coupon bonds of the City
of Rexburg, Idaho in the amount of Seventy Thousand Dollars ($70,000.00) for the purpose of
providing funds for the construction of a trunk sewer for use of said city. Said bonds shall be
dated October 15`, 1919 and be redeemable at the option of the city at any time after the expiration
of ten years from date thereof, and each bond shall be redeemable in the order of its number and
shall be absolutely due and payable October, 1', 1939. They shall consist of seventy (70) bonds
of One Thousand Dollars ($1,000.00) each, numbered one (1) to seventy (70) inclusive. The
principal and interest of each bond shall be payable at the office of the City Treasurer or at the
office ofKountze Bros., Bankers, City of New York, State of New York, at the option of the
holder. They shall bear interest at a rate not exceeding six (6) per centum per annum payable
semi - annually on the first days of January and July in each year and said interest shall be
represented by coupons attached to each bond, each coupon representing a half yearly payment of
interest on the bond to which it is attached, save the first and last coupon. Said bonds shall be
signed by the Mayor of said city of Rexburg, Idaho, attested by the city clerk and countersigned
by the City Treasurer, and shall bear the seal of said city, and the coupons thereto attached shall
bear the original or engraved signatures of the Mayor and the City Treasurer.
Section 6: The said bonds and coupons shall substantially as follows, to wit:
United States of America
State of Idaho
Municipal Coupon Bonds
of the
City of Rexburg
County of Madison
$1,000.00
No._
The City of Rexburg, in the County of Madison, State of Idaho for value received, acknowledges
itself indebted and hereby promises to pay to the bearer the sum of
One Thousand Dollars
in lawful money of the United States of America on the First day of October 1939, with interest
thereon at the rate of per centum per annum payable semi - annually on the first day January
and July in each year, principal and interest payable at the office of the City Treasurer aforesaid or
at the office of Kountze Bros., Bankers, in the City of New York, State of New York, at the
option of the holder of this bond, upon presentation and surrender of the annexed coupon as they
severally become due.
The said city reserves the right however, to pay this bond at any time after the first day of October
1929.
This bond is one of a series of like date and tenor aggregating Seventy Thousand Dollars
($70,000.00) par value in amount and numbered one (1) to seventy (70) inclusive. Issued for the
purpose of constructing a trunk sewer for such municipality by virtue of and in full conformity
with the provisions of Chapter 159 Part 1 of the Compiled Laws of the State of Idaho and
subsequent amendments thereto and of the Constitution of the State of Idaho, and also by
authority of a vote of the qualified electors who were the taxpayers of said city at an election
legally called and duly held in said city prior to the issuance of this bond, to wit:
October 1, 1919 at which election more than two - thirds of all the legal votes cast on the
question were in favor of the issuance of this bond.
It is hereby certified that all acts and things required to become and conditions and things required
to exist precedent to and in the issuance of the bond to render the same legal and valid, have been
done and did exist in due time, form and manner as required by law and that the total debt of this
city, including that of this bond does not exceed the Statutory limitations of the State of Idaho.
In testimony whereof, the City of Rexburg has caused this bond to be signed by its Mayor,
attested by the City Clerk and countersigned by the City Treasurer and the seal of said city affixed
this _ day of October 1919.
John L. Ballif, Jr.
Mayor
Attest:
City Clerk
Countersigned
City Treasurer
No._
On the first day of January _ July 191 the City of Rexburg, County of Madison, State of Idaho,
will pay the bearer $1,000.00 in lawful money of the United States of American at the office of
the City Treasurer or at the office ofKountze Bros., Bankers, in the City of New York, State of
New York, at the option of the holder bearing interest due on its municipal coupon bond no._
City Treasurer
Section 7: In case the issuance of said bonds shall be approved by said electors then the interest
falling due on said bonds on January I'' 1920 and July 1" 1920 shall be paid out of the general
fund of said city and for the purpose of reimbursing said general fund for said two semiannual
installments of interest, and to meet the interest accruing on said bonds on January 1', 1921 and
July 1", 1921, there shall be levied in the year 1921 on taxable property in said city in addition to
the other taxes, a direct annual tax sufficient to produce the sum of money necessary for the
above mentioned purposes, that in order to raise the necessary funds with which to pay the
interest due after January I'' 1922 promptly and as the same accrues, there shall be levied on all
the taxable property in said city in addition to all other taxes a direct annual tax in each of the
eight years, 1922 to 1929 inclusive, sufficient to produce the sums for the payment of the above
two mentioned interest installments due each year; that in order to raise the necessary funds with
which to pay the interest due after January I'' 1920 promptly and as the same accrues and to
create a sinking fund for the payment of the principal of said bonds, there shall be levied on all the
taxable property in said city in addition to all other taxes, a direct annual tax in each years 1929 to
1939 inclusive, sufficient to produce the interest to become due each year from January 1', 1929
to October 1', 1939, inclusive, on the outstanding bonds of this series, and in the years 1929 to
1939 inclusive, sufficient also to produce the sum of $7,000.00 additional to apply on the payment
of the principal of said bonds, and said bonds, and said taxes when so collected shall be applied
solely for the purpose of paying all interest and principal of said bonds, respectively, and for no
other purpose whatever, until the indebtedness so contracted under this ordinance, principal and
interest, shall have been paid, satisfied and discharged.
Section 8: It shall be the duty of the City Council of said city and they shall be hereby and are
required annually at the time and in the manner provided by law for the levying of other city taxes,
to ratify and carry out the provisions hereof with reference to the levying of taxes, and requiring
of the officers of and for said city to levy, extend and collect such taxes in the manner provided by
law, for the purpose of creating a fund for the payment of the interest upon, and the principal of
said bonds, and the said taxes when so collected shall be kept for and applied only to the payment
of said interest and principal of said bonds as herein before specified, but nothing herein contained
shall be so construed as to prevent said city from applying any other funds that may be in the city
treasury and available for that purpose to the payment of said interest and principal as the same
respectively matures and the levy or levies herein provided for may there upon to that extent be
diminished, and upon the payment of the principal of any of the bonds issued hereunder in said
manner or by the use of sinking funds herein provided for the levy or levies herein provided for,
for the payment of interest may, to the extent of the interest on the bonds, so paid, be diminished.
Section 9: This ordinance shall take effect and be in force from and after its passage, approval
and due publication, and shall be irrepealable until the indebtedness hereby created shall have been
fully paid and satisfied .
Passed and Approved this 29 day of August 1919
Ray D Garner
Clerk
Affidavit of Publication
State Of Idaho
County of Madison
John L. Ballif, Jr.
I, Arthur Porter, Jr. do solemnly swear that I am of lawful age and am the publisher of the
Rexburg Journal, a weekly newspaper, printed and published at Rexburg, Idaho, and have
personal knowledge of all advertisements published therein, That the notice of which the annexed
is a printed copy, was published once a week in said newspaper as follows, commencing with the
issue of Friday the 29' day of August 1919 and ending with the issue of Friday the day of
1919 in the regular and entire issue of every number of said paper in said issues; that
the notice was published in the newspaper proper and not in a supplement.
Arthur Porter, Jr.
Subscribed and sworn to before me, a Notary Public in and for said county and stat on the 10
day of September A.D., 1919.
Daniel Ricks
N. P.
My commission expires Nov. 22, 1921
T- —
ORDINANCE BOOK.
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