Loading...
HomeMy WebLinkAboutORDINANCE NO. 230 ESTABLISHING A FIRE DEPARTMENTOR�xuny., C I 'l l O F REXBURG Amen, a., I anilp (<�rnrnunrtv ORDIANCE NO. 230 AN ORDINANCE SUBMITTING TO THE QUALIFIED ELECTIONS 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 ESTABLISHMENT, EQUIPMENT AND MAINTENANCE OF A FIRE DEPARTMENT AND FOR THE PURPOSE OF PROVIDING SUITABLE AND NECESSARY APPARATUS AND BUILDINGS FOR THE USE THEREOF 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 TIME OF THE ISSUANCE OF TFE SAME TO PROVIDE FOR THE HOLDING OF SAID ELECTION OF THE QUALIFIED ELECTIONS WHO ARE TAXPAYERS'OF SAID CITY AND FOR THIRTY (30) DAYS NOTICE THEREOF TO BE GIVEN IN A NEWSPAPER PRINTED AND PUBLISHED �N =SAID CITY TO PROVIDE FOR THE BALLOTS TO BE USED AT SAID ELECTION TO PROVIDE FOR THE FORM OF SAID BONDS AND THE ADVERTISING AND SALE THEREOF, D\jO APPOINT JUDGES AND CLERKS FOR SAID SPECIAL ELF CT:\ WHEREAS, The City Council of the City of Rexburg, Madison County, Idaho, deem it advisable to issue the coupon bonds of uch citg01111\to provide funds for the establishment of equipment and maintenance of a fire depaent and for the purpose of providing suitable and necessary apparatus building for the use thereof in said city. NOW, THEREFORE, BE IT ORDAINED BY THE MAYOR OF SAID CITY OF REXBURG, IDAHO AND THE CITY COUNCIL OF SAID CITY; SECTION I -,A specii(election is hereby ordered and called to be held in the respective wards at the pollingcplaces herein after designated in said city on Wednesday the 151 day of October, 1919, beginningit the hour of (9) a.m. and closing at the hour of seven (7) p.m. for the purpose of submitting tq 1he =ggalified electors who are taxpayers of said city, the question of issuing the municipal coupo�onds of said city in the amount of Twelve Thousand $12,000.00 to bear date of October V, 1919, for the purpose of providing funds for the establishment, equipment, and maintenance, of a Fire Department and for the purpose of providing suitable and necessary appara and buildings for the use thereof in the said city. SECTION II — All persons who at the time of said election and qualified electors of said City of Rexburg, Idaho, who are taxpayers of 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 be substantially as follows; "In favor of issuing bonds to the amount of Twelve Thousand Dollars ($12,000.00) for the purpose stated in Ordinance No. 230, and "Against issuing bonds to the amount of $12,000.00 Twelve Thousand Dollars, for the purpose as stated in Ordinance No. 230." SECTION III —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 be given notice by publication in the aforesaid newspaper in five issues thereof, of the intention of the 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 bidders therefor, which said election notice and said bond sale notice shall be in the following form, respectively to -wit; NOTICE OF ELECTION Pursuant to the law of the State of Idaho and Ordinance No. 230 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 place hereinafter designated in the City of Rexburg, Idaho on Wednesday, the first day of 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 Twelve Thousand Dollars $12,000.00 for the purpose of providing funds for the establishment, equipment, and maintenance of a Fire Department and for the purpose of providing suitable and necessary apparatus and buildings for the use thereof in said city. All person who at the time of said election are qualified electors of said City of Rexburg, Idaho, and who are taxpayers of said City of Rexburg, Idaho, and no other, shall be qualified to vote at the 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 Twelve Thousand�ollatN12,000.00 for the purpose stated in Ordinance No. 230" and "Against issuing bondse the amount of Twelve Thousand Dollars $12,000.00 for the purpose stated in Ordinance No 230." Dated at Rexburg, Idaho this 29" day of August, 7'� a 0 RAY D. GARNER a City Clerk ,..e.�\ First publication, August '1919—o" Last publication, September 26, 1919. lice of Municipal Coupon Bond Issue ����e Sale by the City of Rexburg, Idaho Le\\ Pulal Z cW hereby given that the City Council of the City of Rexburg, Idaho, intends to e issue and >n ' Mate municipal coupon bonds of said city in the aggregate sum of Twelve Thousand Doll ar e 12 0 .00 to provide funds for the establishment, equipment and maintenance of a fire de' et and for the purpose of providing suitable and necessary apparatus and buildings for the use erc reof in said city. Said bonds will be issued in conformity with the provisions of Ordinance No. 230 of said city, adopted and approved the 29' day of August 1919, and subject to the approval of the qualified electors of said city voting upon the question 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 V, 1939. They will consist of twelve bonds of the denomination of $1,000.00 each, numbered consecutively one (1) to twelve (12) inclusive, principal and interest payable at the office of the City Treasurer or at Kountze Bros. Bankers, City of New York, State of New York, alternate proposal for the purchase of said bonds are invited, said alternate proposals being made on a basis of bonds bearing interest at the rate of 5 %, 5 /z% or 6% per annum, payable semi - annually on the first days of January and July of each year. The Councilmen of the City of Rexburg, Idaho, will, up to and including the 15s' 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 centurn (10 %) of the amount 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 reserve 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. ATTEST: City Clerk First Publication, Sept. 19, 1919. Last Publication, Oct. 10, 1919. The City Council of the City of Rexburg, Idaho By, JOHN L. BALLIF 1R. Mayor % ��.. e \' SECTION IIIA — That the said election shall be held in said t} and the vote upon said questions taken within the respective wards of said city at tJtzllowing designated voting places. First Ward — City Hall Second Ward — Public School Haase Thud Ward — Bench Building SECTION IV — The following named;persons are hereby appointed to act as Judges of said V election to -wit; 11 11,1 First Ward judges ofElection — J.E. Ricks, Jr. M.P. Evans Fred Smith — Clerk judges of Election — Frank Turner John ? Anderson Peter Anderegg ,lerk i Mra W ara: udges of Election —Geo N. Atkinson A.G. Feljstrom Mrs. A. Heath Geo Ballif — Clerk SECTION V — In the event that the issuance of said bonds shall be approved by said elections then by virtue of and in pursuance of Chapter 159 of part 1 of the compiled law 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 Twelve Thousand Dollars, ($12,000.00) for the purpose of providing funds for the establishment, equipment and maintenance of a fire department and for the purpose of providing suitable and necessary apparatus and buildings for the use thereof in the said city. Said bonds shall be dated Oct. 1", 1919, and redeemable at the option of the city at any time after the expiration of ten years from date thereof, and each bond shall be redeemed in the order of its number and shall be absolutely due and payable October 1 ", 1939. They shall consist of twelve bonds (12) of One Thousand Dollars each, ($1,000.00) numbered from one (1) to twelve (12) inclusive. The principal and interest of said bonds shall be payable at the office of the City Treasurer or at the office of Kountze Bros. Bankers, City of New York, State of New York at the option of the holder. They shall bear interest at the rate no exceeding (6) six per centurn 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 the interest on the bonds to which it is attached, save the first and last coupon. Said bonds shall be signed by the Mayor of the 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 signature of the Mayor and City Treasurer. SECTION VI — The said bonds and coupons shall be substantially as follows, to -wit: UNITED STATES OF AMERICA STATE OF IDAHO COUNTY OF MADISON �\ , \ N % "J MUNICIPAL COUPON BONDS ; O OF THE CITY OF REXBURG \4'O No. $1,000.00 The City of Rexburg, in the county of Madison, State of Idaho,afor value received, acknowledges itself indebted and hereby promises to pay the bearer the sum of One Thousand Dollars In lawful money of the United States of America on Octol e, 1939, with interest thereon at the rate of 6% pet annum, payable semi - annually on the fir t January and July in each year, principal and interest payable at the office of the City lsl;-6 or at the office of Kountze Bros. Bankers, City of New York, State of New York, at the option of the holder of this bond, upon presentation and surrender of the annexed coupons as they severally become due. The said city reserves the right, howeIVer, to pay this bond at any time after the fast day of October, 1929. This bond is one of a series o e to and tenor aggregating Twelve Thousand Dollars, �\,,. $12,000.00 pax value in amount a13�"i�tlum ed one (1) to twelve (12) inclusive for the purpose of providing funds for the esta4 iis ent equipment and maintenance of a fire department and for the purpose of providing a suible agSPnecessaxy apparatus and buildings for the use thereof in the said city by virtue of and in hall coxmity with the provisions of Chapter 159 of the 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 taxpayer of said city at an elechop "legally and duly held in said city prior to the issuance of this bond, to -wit; Oct, 1", 1919 at whihich election more than two thirds of all the legal votes cast on question were in favor of the issuance of the bond. It is hereby certified that all acts and things required to be done and conditions and things required to exist precedent to and in the issuance of this bond to tender 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 left of this city, including that of this bond, does not exceed the statutory limitation of the State of Idaho. In Testimony Whereof, the City of Rexburg, Idaho, 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 29h day of August, 1919. JOHN L. BALLIF IR. Mayor ATTEST: City Clerk COUNTERSIGNED: City Treasurer On the first day of July /January, 1919, the City of Rexburg, County of Madison, State of Idaho, will pay the bearer $ in lawful money of the United States at the office of the City Treasurer, Rexburg, Idaho, or at the office of Kountze Bros. Bankers, City of New York, State of New York, at the option of the holder, being interest due on its municipal coupon bond No. City Treasurer SECTION VII — In case the issuance of said bond shall be approved by said electors then the interest falling due on said bond on Jan. 1 ", 1920 and July 1 ", 1920 shall be paid out of the general fund of said city and for the purpose of reimbursing said general funds for said two semi- annual installments on interest and to meet interest accruing on said bonds Jan. 1 ", 1921, and July 1 ", 1921, there shall be levied in the year 1920 on all the taxable property in said city in addition to the other taxes, a direct annual tax sufficient to produce the sum for the above mentioned purposes that in order to raise the necessary funds with which to pay the interest due after Jan. ls, 1932, promptly and as the same accrues, there shall be levied on all the taxable property in said�sily in addition to all other taxes, a direct annual tax in each of the 8 years 1922 to 1929, inclusiik3sufficient to produce the sum for the payment of the above mentioned two installments of intere§ clue each year that in order to raise the necessary fund with which to pay the interest due er Jan. V, 1920 and as the same accrues and to create a sinking fund for the payment of the prin f said bonds, there shall be levied on all the taxable property in said city in addition to o ex taxes, a direct annual tax in each year 1929 to 1939 inclusive sufficient to produce the, to to become due each It year from January 1 ", 1929 to October 1 ", 1939, inclusive, on outsfanng nds of this series, and in the years, 1929 to 1939 inclusive, sufficient also to produce the suxp Of Twelve Hundred Dollars ($1,200.00) additional to apply on the payment of the principat pf 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 VIII — It shall be the duty of the City Council of said city and they are hereby 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 w% reference to the levying of taxes, and requiring of 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 fof'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'so hereinafter 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 theyaent of the principal of any bonds issue hereunder in said manner, or by the use of the sinl i ,N herein provided for, the levy or levies herein provided for the payment of interest may t a\ per nt of the interest of the bonds so paid be diminished. °� 7 ION IX — This ordinance shall take effect and be in force from and after its passage, apvand due publication and shall be irrepealable until the indebtedness hereby created shall have een fully paid and satisfied. PASSED AND APPROVED THIS 29TH DAY OF AUGUST, 1919. JOHN L. BALLIF JR. Mayor ATTEST: RAY D. GARNER City Clerk AFFIDAVIT OF PUBLICATION STATE OF IDAHO COUNTY OF MADISON 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 29d' 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 State,,,�t` "e9 day of Sept. A.D. 1919. DANIEL kf RS Notary °Public V My Commission Ex�ireso . 22 "d, 1921. 0 eomm x° 3� c \\Nk