HomeMy WebLinkAboutORDINANCE NO. 104 MUNICIPAL COUPON BONDSC I 'C Y O P
` REXBURG
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ORDINANCE NO. 104
AN ORDINANCE AUTHORIZING THE MUNICIPAL COUPON
BONDS OF THE CITY OF REXBURG, IDAHO, TO THE AMOUNT OF
TWENTY -FIVE THOUSAND DOLLARS AND PROVIDING FOR THE
PAYMENT THEREOF.
WHEREAS, at an election duly called and held in the City of Rexburg, Idaho, on the 8s' day
of January, 1906 after notice thereof had been duly given for the time and in the manner required by
law, there was authorized to be issued Municipal Coupon Bonds of said City to the amount of
twenty -five thousand dollars, ($25,000).
BE IT ORDAINED BY THE MAYOR AND CITY COUNCIL OF THE CITY OF
REXBURG, COUNTY OF MADISON, STATE OF IDAHO:
SECTION I: That for the purpose of raising the necessary funds to provide a system or
waterworks and supplying same with water, and to provide for a fire department and for the
purchase of suitable and necessary apparatus and building and building site for the use thereof, there
are hereby authorized to be issued twenty -five (25) Municipal Coupon Bonds of One Thousand
Dollars ($1,000) each, dated the nineteenth day of March 1906 and payable on the nineteenth day of
March 1926, redeemable at the option of the City at any time after the nineteenth day of March
1916, in their numerical order and beginning with the lowest number. Said bonds shall bear interest
evidenced by coupons at the rate of five (5) per centum per annum, payable semi- annually on the
first days of January and July.
Both principal and interest of said bonds shall be payable at the office of the City Treasurer
of the City of Rexburg, Idaho, or at the Chase National Bank, in the City of New York, State of
New York, at the option of the holder.
SECTION II: The said Water Works and Fire Department Bonds shall be substantially the
following forth:
United States of America
State of Idaho
City of Rexburg
Municipal Coupon Bond
Know All Men By These Presents, that the City of Rexburg, in the County of Fremont and
State of Idaho, acknowledges to owe and for value received hereby promises to pay to Mac Donald,
McCoy & Co. or bearer One Thousand Dollars ($1,000) lawful money of the United States of
America on the nineteenth day of March, A.D. 1926, with interest thereon from the date hereof at
the rate of five (5) per centum per annum payable semi - annually on the first days of January and
July on presentations and surrender of the annexed interest coupons as they severally become due.
Both principal and interest of said bonds shall be payable at the office of the City Treasurer
of the City of Rexburg, Idaho, or at the Chase National Bank, in the City of New York, State of
New York, at the option of the holder.
This bond is redeemable at the option of the City of Rexburg in numerical order, beginning
with the lowest number, at any time after the nineteenth day of March, 1916.
This bond is one of a serious of like of like tenor, issued for the purpose of raising the
necessary funds to provide a system of waterworks, and supplying same with water, and to provide
for a fire department, and for the purchase of suitable and necessary apparatus and buildings and
building -site for the use thereof in the City of Rexburg, under the authority of and in conformity
with an Act of the Legislature of the State of Idaho, untitled, "An Act to provide for the issue and
sale of Municipal Coupon Bonds by incorporated Cities and Towns; for the applications of the
funds derived from the sale thereof, and to provide for the payment of the principal and interest
thereon," passed at the fifth session of the Legislature of the State of Idaho; and is further
authorized by an election duly called and held on the 8" day of January 1906,
And it is hereby certified and recited that all acts, conditions and things required to be done
precedent to and in the issuing of this bond, have been done, happened and been performed in
regular and due form, as required by law, that a direct annual tax has been duly levied for the
payment of the principal and interest of this bond and that the total indebtedness of the City of
Rexburg including this bond, does not exceed the statutory or constitutional limitations.
In Testimony Whereof, the Mayor and City Council of the City of Rexburg, Idaho, have
caused in this bond to be signed by the Mayor, attested by the City Clerk under the corporate seal,
and countersigned by the City Treasurer and have caused the annexed interest coupons to be
executed with the facsimile signature of the City Treasurer, this 19'h day of March 1906.
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ATTEST:
City Clerk
COUNTERSIGNED:
City Treasurer
Mayor
(Form of Coupon)
No. $
January,
On the first day of January 19_ the City of Rexburg,
July,
Fremont County, State of Idaho, will pay to Mac. Donald, McCoy & Co. or bearer Dollars,
at the office of the City Treasurer of the City of Rexburg, or at the Chase National Bank, in the City
of New York, State of New York, at the option of the holder, for interest due that date on its
Municipal Coupon Bond No.
City Treasurer
SECTION III: For the purpose of providing for the payment of the principal and interest
of the bonds hereby authorized, there shall be, and there is hereby levied a direct annual tax upon all
the taxable property in the City of Rexburg sufficient to produce the sum of twenty -five hundred
($2,500) in each of the year 1906 to 1925 both inclusive, and provision, to meet the requirements of
this section shall in due time, manner, and season be annually hereafter made.
SECTION IV: All ordinances and parts of ordinances in conflict herewith are hereby
repealed.
SECTION V: This ordinance shall be in force from and after its passage and publication.
PASSED BY THE CITY COUNCIL AND APPROVED BY THE MAYOR this the 14" day of
May, 1906.
John Jacobs, Mayor
2
ATTEST:
A.L. Blackburn, City Clerk
STATE OF IDAHO)
)ss.
County of Madison )
I, A.L. BLACKBURN, City Clerk of the city of Rexburg, Idaho, do hereby certify: That the
above and foregoing is a full, true and correct copy of the Ordinance Entitled:
AN ORDINANCE AUTHORIZING THE MUNICIPAL COUPON BONDS OF
THE CITY OF REXBURG, IDAHO, TO THE AMOUNT OF TWENTY -FIVE
THOUSAND DOLLARS AND PROVIDING FOR THE PAYMENT THEREOF.
PASSED BY THE CITY COUNCIL AND APPROVED BY THE MAYOR this the le day of
May, 1906.
A.L. Blackburn, City Clerk
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