Loading...
HomeMy WebLinkAbout1923, Sept 26 Municipal Coupon Bonds3G3. ~'he question being upo?~ the adoption of said motion, the ra11 teas called with the follot^~ingresult ; Those voting Aye : Councilmen Hugh A, i-•T-rght, H. E. ?oole, D. ';V. ?Nelson, ,^~_. E. Archihald, R. H. Smith and meter Taylor. Those voting i1a.y None. The I•fayor declared that three-fourths of the City Council had voted in the af- firmative, and t17at said motion teas duly curried, and that z'urther .reading of said ord- inaizce eras dispensed :Rrith. ?'hereupon Cauncilmaii H. E. Poole moved t1~,a.t said prdinance be placed upon ids passage, which r._otion eras duly seconded by Councilman Hugi~ A. :?fright and the x•oll eras called upon said motion t*rith the following result; Those voting Aye : Councilman Hugh A. "fright, H. ~. Poole, D. ^J. Nelson, A. E. Archibald. R. H. Smith and Peter Taylor. Those voting Nay : None. Tlxe P!:ayor declared the motion carried and the said ordinance placed upon its passage. Thereupon Gouncilman R. H. S:riith moved that said ordinance be passed as read, and the :notion vras seconded by Councilman Peter Taylor. The question being upon the passage of said ordinance, the ro11 tfras called with the following result; 'Those voting Aye Counailmen Hugh A.iFfright, H. E. Peale, D. W. Nelson, A. E. Archibald, R. H. Smith and Peter Taylor. Those voting Nay None. The I..Mayor declared tnat a :majority of all the rembers el.satsd to the ..City Coun- eil had voted for the passage of said ordinance, and that said motion eras carried and said ordinanas duly passed. On motion, s~?.id ordinance ryas numbered 28 C, and ordered published in the Rexburg Journal, a nettrspaper published ii2 said City of Rexburg, according to law. 0~0a9 0'~J O 0 f' J f 0 P'~h 0 I f~l //"ia/ /!~/ Thereupon the follot^ring Resolution Baas intrad~aaed, read and considered and upon motion duly made and seconded, rya's unanimously adopted by the follot°ring vote: . Thosevoting fiye : Counailmen Hugh A. Wright, II. E. Poole, D. ~(. Nelson, A. E. Archibald., R. E?....:Smith and dater Taylor. Those voting Nay.- None. 9 Thereupon the resolution eras dealarer~ earr:ied by the iayor and dubs approved as follot~rsa; RESCI,U TiON . tTthereas, the P,4ayor and City Council of the City of Rexburg, in tree State of Sdaho, leave by:ard9.nanee provided for an issue of the municipal coupon bonds of the City in the ag- gregate amount of Teii ?'house?id Dollars (y~10,000}for the purpose of reftznd:ing and redeeming a like amount af' the valid outstanding banded a<ndebted.ness of the City knot=rn as r?ratertvorks fonds;.also h~tive by ordinance provided for an ;issue of the ;municipal coupon bonds of said City ii1 the aggregate amount of ?'Yxi~ty 1'housancl Dollars (y 3C, 000; for the purpose of re- funding ar:~ redeeming alike amount'of the valid putstand.ing ii~!deL-tedness of the City, ltnotxrn as Grading and Curbing 3onds, all to bear date November 1st, A. D. lt)2~, bearing int- erest at the rate of five and three quarters per cent (~~o per annum,. pay~k~le serii- annuall;f on the first day of January and the first day bf Ju1y in each year, said bonds ..being redeemable a.t the aptian of the City after ten years and absolutely due and payable tt~enty years from their date; and, Ulhereas, it is the tintention of the I'iayar and City Gotancil of the City of Rex- ~)tirg tO.i88ll8 and 8811 all Of Said bonds; and,. "tFJhereas, it is provided by Section a117 of the Idaho Compiled Statutes that the City Council :Host give notice by publiaatian in some ne.fspaper published in the City, if in a weekly paper, in four issues thereof; if in any othex papea°, far four weeks, of its .intention to issue and ne~tleiate such bonds and invite bidders therefor• 2SCtiRi Ti~RI+.;EOR!+, B~, 1'.C RESOLVED DY T}~ I:~iAYOR AID CITY COUISCIl: OF~i"1~ C17"t OF REX- BURG: 1. Tl>2.t the City Clerk of the City of Rexburg be and he is hereby authorized and dirsoted ta.giv'e notice by publication in the Rexburg Journal, tllc official net~spaper of the City, of the intention of the ',.~'ayor and City Gounci:l of the City of Rexburg to 1.ssue and negotiate the municipal oouppil bonds of the City 9.n the aggregate amount ^f 30~, Forty Thousand Dollars (ur~Y0,000} to provide for refunding and redeeming a like amount pf valid outstanding indebtedness of the City, i.n accordance sa=ith the arovisions of ©rdinances No, 28~ and 286 of the City o." P.erburg, adopted and approved the 26th day of September,A,D. 1g23, 2. Tlv~,t said notice sha.11 be in substantially the fol:l.owing form to-twit: bT0 TICS of P,Tun;cipal Coupon Bond Tssue and Sale By the City of Rexburg„ Idaho. PIIBLIC NOTICE IS "F~REBY GIVEDT that the City of Rexburg, in the County of Lia.dison, and the State of Idaho, intends to issue and negotiate the municipal cot.tpon bonds of said City in the amount of Forty Thousand Dollars (N40,000} for the pur~rose of refunding, pur- chasing and rddeeming a like amount of the val.ld outstanding bonded indebtedness of the City. Sa_rct'obond5 t=ri:i.l be issued in conformity with the provisions of Ordinances No.28~ and 28b of said City, adopted and approved on the 26th-day of September, A. D. 1923, and the said bonds `viii bear date lS~avember 1st, 197_3, t~vi11 be redeemable at the option of the City, any time after ten years fram the date thereof, and cril'1 be absolutely due and payable ITov- ember 1st, .1943. They wi1.1 consist of ten bonds in the denomination of One Thousand Dollars (,'v1,000} each, to be ~nawn as !tatertvarlcs Refunding Bonds, and thirty bonds in the denomination of pne Thousand Dollars (wn1,000j each, to be known as Grad.i~ng and Curbing Re:('unding Bonds, and v=ill all bear anterest at the .rate of five and three-quarters per septum (54,'~~} per anmim, payable semi-annually oil the first day of January and the first day of July in each year. All bids sha11 be sent to the City Cleric a.t Rexburg, Idaho, on or before the 20th day o:P October, A, D. 1923. Na canditional bids for said bonds will be considered, and bidders must satisfy the said City of their abd,32ty to take up and pay far said bonds ,=ritha.n teri days after the date of sale, before their bids Urill be considered, Ail bids are to be accompanied by an unconditional certified check for five per cent (?~~} of said bond issue, ;rhieh check is to be forfeited in case said bidders refuse to oorzply :°rith the terms of this advertisement, After ascertaining the best terms u~an vrhich said bonds can be negotiated, the bands vrill be stLd for Dash, in no case foa° less than thsi.r fade o~ par value and accrued interest at the time of disposal by the City Treasurer under the general supervision of the City Council, The City Couhail reserves the privilege of rejeetizig any and all bids, City Council of Rexburg, Idaho. 13y L, Y, Rigby, attest; Fi'~ayor. Geo. E. Liljenauist, City C1er1b, ( SEr1 L } 3. That all resolutions os• parts of resolutions heretofore adopted, in conflict with This resolution or any part thereof are hereby revolted, repealed and rescinded, Adopted and approved this 26th day of Septembe.r., fi. D. 1923, L. Y, Rigby fittest: T--Tayor. Geo. E, Liljenauist, City Clerk. (SEA:[; } . Thereupon the follovring resolution vas introduced by Councilman D,1RT. 'nelson, read and considered a?Zd upon motion duly made and seconded, ~,=as unanirnausly adopted by the follovring vote; Those voting Aye Councilmen. Hugh: A.. Czlri.ght, H. E. I'ao7.e, Dm hP, Nelson, A, E. Archibald, R. K. .Smith .and ?'eter Taylor, Those voting ?vay ; YSons, Thereupon tho resolution s~ras declared carried by the Pttayor and duly approved as follows: RESOLU'TIO c7 > IJTiERE.r,S, the Mayor a,nd City Gounail of the Gity of Rexburg, Idaha;,have by ordinance provided f'or the calling for redemption of the follo~rg bonds of said City to®:~rit: i~~10,000.00 ;!tatervrorics Bonds, dated Augustlst, :L913, nur.=tiered. fs'om 1 to l0 both inclusive of the cisnom- inati.on of X1,000.00 each, bearing interest at the rate o." six per cent (6%~ per annum, pay- able semi-annually, at their face or par value on the first day of November A. D. 1923, ~rrith accrued interest to said.'Tovernbe.r let, 1923; also .„30,000,011 Gradi.:vg and Cur'oi.rrg Bonds d:f said City dated August 1st, 1913, numbered from 1 to 30 bath i.nclusi.ve of the denomination of ?1,000.00, bearing interest at the .rate o six per cent (6~} per annum, payable semi-anriua.l'1.y, at their face or par value on the first day of idove:nber, fi, D, 1923,svith accrued interest to said November 1st,A,D, 1923, and, ~lr~REA.S, i.t is deemed expedient a.nd advisab7.o by said City that public rotiae be gi~Ten of its intention to ca11 far i:edsmption and redeem all of said bonds to-wig: ~,~10,000.00 iiiatertsoxks Bonds nu:uioered from 1 to 10 bath ine7.usive aid ~u30p000.00 Grading and Curbing Bonds I~Tumbered Pram 1 to 30 both inclusive, in accordance r~uith the provisions of said ordiaiahcss. NOON TF~REFO?.E BE T'.P RESOLVED AI~iD ORDERED, by the P,;"ayor and City Council of the City of Rexburg as follovrs; 1. Tlvat the City Cler1; of the said City of Rexburg sha11 cause notice of intention to refund, redeem and pay said. bonds to be published in the Bond Buyer, a newspaper published and oz general circulation in the City of I~Tsvr York, for a period of once a week for t~va success- ive vreaks prior to said Idovenii~:er 1s't, 1923, also far a 7.ilce period in ~tYie Roak~€y D;lountair. Nevus, a ne~~°rspaper published a.nd of general ci~~culatian in the Ge.ty of Denver, Colorada, wh3.ch said notice s1~a11 be in substantially the foil~zvi.ng form to-wit; 110 T1CE OF REDE2dII"I'IGN, NOTICE IS ITc+REBY Gl3lEi1 that the Gity of Rertbuxg, irradison County, Idaho, has elected to redeem and t^rill redeem and pay off" on Novesnbsr 1, 1923, all of the fa11a5ving described bands, then outstanding, to-.vit: Yp10,000,00 City of Rexburg, Tdahol4 &f t<Vater Bonds, numbered from 1 to l0, both inclusive, denomination X1,000,00 each, dated August 1st, 1923, payable August lst,19'33, but redeemable at the option of the