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HomeMy Public PortalAboutOrd. 85 - Bonds for Sewer System *. ,0 -. ' fr ll ORDINANCE NO . esor se sses An Ordinance submitting to the qualified electors of the Village of MCCall , Valley County , State of Idaho , who are tax- payers of the Village of McCall , Valley County ) State of Idaho , for their determination , the question of issuing the negotiable coupon bonds of the Vidlage in the sum of $ 170400000 to provide funds with which to construct and install a sewer system and. sewage disposal plant in and for the Village of McCall by purchus - ing the necessary materials , constructing and laying sewer mains , laterals and sedimentation tank ; providing. a, meximurn rate of interest on said bonds , which shall not exceed. six per aentum per annum ; providing the ultimate maturity of said bond issue shall be #xenty years from, the date of issue ; making provision for the levy and collection of a tax necessary to pay the prineipal of and the interest to accrue upon an annual amotization plan as 4932 ) providid by Section 55 - 211 ) Idaho . Code Annotated / as amended by Chapter 95 , Session Laws , 1936 ; prescribing the form of notice to be given to the qualified electors of the Village of McCall , Valley County ) State of Idaho , who are taxpayers of the VillaGe of McCall , Valley County ) State of Idaho ) at' the holding of such election , and a form of ballot to be used in voting thereat ; fix - ing the time and place of holding. such election , and naming the election officers to serve thereat , WRSIREAS , it appears necessary and expoUient for the best in- , teresta of the Village of McCall ) Valley County , State of Idaho ) at large , that a sewer system and sewage disposal plant be eon - structd and installed in and for the Village of McCall by con - de structing and laying sewer mains , laterals and a sedimentation- ' de: 0 tank in accordance with the plans and, specifications therefor now file in the office of the Village Clerk ) to which reference is hereby made for greater certainty ; and • WHEREAS, it is contemplated that the cost of improving said sewer system and sewage disposal plant be paid for by the Village at large , and out of the general funds of said Village; and :E'.z: tEAS , the Village of McCall, Valley County, State of Idaho, is unable to provide the necessary funds for the construe- - tion and installation of said sewer system and sewage disposal plant out of the general levy; and • WHEREAS , it is deemed advisable to issue negotiable coupon bonds of said Village in the sum of $17,400.00, to provide moneys with which to construct and install • said sewer system and sewage disposal plant in and for the Village of McCall, Valley County,- State of Idaho, by purchasing the necessary materials , constructing and laying sewer mains , laterals and sedimentation tank in substantial accordance with the adopted plans and speci- f• ications therefor. NOW, THEREFORE, BE IT ORDAINED BY THE CHAIRMAN AND BOARD OF TRUST' ES OF THE VILLAGE OF McCALL, VALLEY COUNTY, STATE OF IDAHO; Section 1. That a. special bond election is hereby ordered and called to be held within the Village of McCall, Valley County, State of Idaho, at the voting place hereinafter designated and established, on the `-aay of November, A. D. 1935, the pblls • for said election to open at the hour of nine o'clock A. M. of said day and to remain open continuously, and to close at the hour of seven o'clook P. M. of said day, for the purpose of submitting to the qualified electors of said Village of McCall , Valley County, 1 State of Idaho, who are taxpayers of the Village of McCall, Valley County, State of Idaho, for their determination, the following question, to wit: Shall the Village of McCall, Valley County, State of Idaho, issue negotiable coupon bonds of the Village in the amount of 0_7,400.00, to provied funds with which to construct and install a sewer system and sewage disposal plant in and for the Village of McCall, Valley County, State of Idaho, by purchasing the nec- essary materials, constructing and laying sewer mains, laterals and sedimentation tank, as described in Ordinance No. Zr , approved the 7 day of October, 1935 Section 2. That said election shall be held in said Village and a vote upon said question taken within said Village, and the designated voting place is the Village Hall in the Village of McCall, Valley County, State of Idaho. Section 3. All persons , who at the time of said election, are qualified electors of the Village of McCall, Valley County, State of Idaho, and who are taxpayers of the Village of McCall, Valley County, State of Idaho, shall be qualified to vote at said election upon the question to be submitted as aforesaid. The voting at such election shall be by ballot and the ballot used shall be substantially in the following form, to wit : 16 ( OFFICIAL BALLOT SPECIAL ATNICIRCTION Village of McCall, Valley County, State of Idaho, Novem- ber j1 , 1935. INSTRUCTIONS The voter shall make a cross (X) in the appropriate space opposite to the words which express his choice on the following question submitted: Shall the Village of McCall , Valley County, State of Idaho, issue its negotiable coupon bonds in the amount of 47,400.00 to provide funds with which to construct and install a sewer system and sewage disposal plant in and for the Village of McCall , Valley County, State of Idaho, by purchasing the necessary mater- ials , constructing and laying sewer mains , laterals and sedimen- tation tank, as described in Ordinance No. O , approved the _7 --day of October, 19357 w, For the ,Donkde Against the Bonds Section 4. The Clerk of said Village i age of McCall , Valley' County, State of Idaho, shall give thirty days notiti e or such election by c e i n s same to be published for a p erixl of thirty days previous to said elect inthe P a e _�q news- paper ��.i�:) 1 .:�.h�4: t�s..P c�,�'�, Star,,�� a t°�1�.�3 u�a`�'e" paper published and in general circulation in said Village of McCall-, Valley County, State of Idaho, and by posting notices of said election at least thirty days previous to the time of holding said election in three of the most t public places ins aid Village wee -r w eet4c at- e-a ather4fe -4e-b - .el+i, one of said . notices to be posted at the place where the -election is authoriz- ed d to be held, and the others at Sao; of- the most public and suit- able places in said Village, which nota as shell be substantially in the following form: NOTICE OS OPECIAL MUEICI AI 'EOM ELECTION' Pursuant to the laws Ot the State of Idaho and Ordinance No. TO7 of the Village of M.cCall_ , Valley County, State of Idaho, public notice is hereby given that a. special bond election will be held in the Village of McCall , Valley County, State of Idaho , at the voting place hereinafter designated, on the _Jur day of November, A. D. 1935, beginning at the hour of nine O' clock t. M. , and closing at the hour of seven o' clock P. M, of sold day, for the purpose of taking a vote of the qualified electors of the Village of McCall , Valley County, State of Idaho, upon the dtollowi.ng question, to wit ; Shall the Village of McCall , Valley County, State of Idaho, issue its negotiable coupon bonds in the amount of i 7,400.00 to provide funds with which. to construct and install a sewer system and sewage disposal )lan `U in and for the Village �f MoC.X ,�., a .,,y,a ,.,as nr,, . 'w , �s i�,a 4 ;x x ;. 4 : Valley County ; 51;RAA1 of Idaho ; by purchasing the writer- 5 �j� `yj1 �j y�jf p } Sowermains ; o la,is constructing and' Y�aying Soave eB laterals;ttis� Q[�� `� V and , 7J - <re {* {� ] ,+�qq�y ,Yr � L: �`. d;�.C.wu1' i� kxx �..:a;�L,,�+ �L �' p ion 1 Pw described aw 4 ,. ,� "� s 1 ta. ® ads Ordinance Rar,f , „s r.uU .. �, 7th day of October ; 1935? ,t.ta oliction shall ba held la the Village of McCall ; Valley County ; State of I ah g and a vote upon said. question taken e 'rae- i.n said Village ; and the des mated voting place s the Village Hal . in the said Village of McCall ; Valley County ; State of Idaho NOTICE IS FURTHER. GIVEN ; that esch . and every 'pp a rs n a n Y' order to vote at said, election is required. to register as j ro _ d ad by the Statutes of the State of Idaho . 30 E . Jordan ; Village alert ; is exmoo f to o registrar of the Villas or McColl ; Valley County , State of Idaho . The place of registration is at °thy office of the Mo ' raU. Light & Power Coo on Lake Street in the said Village of McCall . Persons may. register at any time duringffic hours ; ba ,- ginn ng with the day that the notice election 5s given. y � nd ' vk �� ' and .iTo each day thereafter until and including the u y next pr e w iyg the election ; and - on Thursday ; Friday and Saturday a next pre- ' coding the election persona may register between the hours of nine o ' clock A o a4 0 and f' iv°e o ' clock P . 14100 and between. the hears of seven ' clock P . U . and. nine o ' clock P . M . �g The voting at said l otion shall be by ballots The ballet to be supplied h f RV - : 1 at �k� �P � to � .s'�' � 3„�� , � ar for;, their ��, � 'a,x said election, shall be in the form set forth in Ordinance Atli alum_ rit . S➢ lam✓d at McCall ; Idaho ; this w t ® x r of October ; « y ror ; 19350 (% L ) aws— vu, 9�r° { q .y +� f@� dm as wP:+��,a 4U''' +ad . ��.k. S'm . Section 5 . The ft..A,. owing_ named persons wo b, y appointed to act as Judges s of election op �y� '^� ayy 7 t Village ; '�` t<e. wit : Y. ''5, 3, t A� �+xA,'i�v � � 4, d,.A +4.a"..,7. 4 : . .G., - 'i'-';:� Co So a3i John. Seck rmaan Louise Printz Section 6 , In case the issuance of said bonds for the purposes mentioned in this ordinance Shall be approved, by the electors and by virtue and pursuant to the lewe of the State of Idaho in such cases made and nrov4deA whall be issued 1„ , there . . ... i.. the negotiable coupon bonds of the Village of McCall , Valley County , State of Idaho , in, the sum of $17 , 400000 , for the pur - pose determined by said electors and hereinbeforc mentionede Said Ponds shall, bear interest at the rate of not to exceed six. per cent per annum , and. bonds of any issue shall mature within a period of twenty- years and be payable upon an. annual emotizaws, tion plan , the first annual amortized principal payment shall matare . and be payable at the expiration of two years from and after the date of iSSUey and the various annual maturities shall , as nearly as practical , be in such principal amounts as will , to - gether with the accruing interest on all outstanding bonds of such. issue , Uo met and paid by an equal annual tax levy for the payment of the principal of mich bonds and, interest thereon durm In the term for which such bonds shall be issued , in accordance 3 932 , with Section, 55 -211 , Idaho Code Annotated flad amended by Chapter 95 , Session Laws of Idaho , 19350 s There shall be levlod in each of the years 1936 to and including 1955 , a tax upon. all taxable property in the Village of MoCall „ Valley County , State of Idaho , sufficient to pay- wad discharge the principal and interest on said bonds falling due years in each of saiVrespectively upon an amortization plan , as at 111932 , forth and provided in Section 55211 Idaho Code Annotatedfas amended by Cbspter 95 , Session Laws of Idaho , 1935m Said taxes shall be assessed , levied and collected in the same manner as other taxes for general municipal purposes are assessed , levied , and collected , and the proper officer or officers of the Village of McCall , Valley County , State of Idaho , shall, do all things reculsite and necessary to carry out the provisions hereof with respect to the levy and collection of such taxes.. Section i. This ordinance shall be in full force and effect frool and after its passage, approval and due publication as provided by law, and shall he irrepealable during the life of said bonds „gassed this - day of Oct©b r, 1935. Approved this 7 day of October, 1935. h a. rman c ; oar . o rustges. 0. ba a 6 er