HomeMy Public PortalAboutOrd. 92 - Notice of Proposal to Issue & Sell Sewer itl,"\
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ORDINANCE NO.
iSN ORDINANCE ITTHORIZING NOTICE OF PROPOSAL TO ISSUE AND
ST L SEWER BONDS OF THE VILLAGE OF McCALL, VALLEY COUNTY,
STATE OF IDAHO, IN TIIA PRINCIPAL SUM OF. SEVENTEEN THOUSAND
FOUR HUNDRED DOLLARS, AND INVITING BIDS THEREFOR, AND PRES-
CRIBING THE FORE OF NOTICE TO BE GIVEN.
WHEREAS , on the 18th day of November, 1935, AT A SPECIAL
MUNICIPAL BOND ALECTION' held in the Village of McCall , Valley
County, State of Idaho, pursuant to Ordinance No. 85 passed
by the Board of Trustees of said Village on 7th day of October,
1935, and after notice of said election had been posted and
published as in said ordinance provided, negotiable coupon
bonds of said Village of McCall , Valley County, State of Idaho,
were authorized in the sum of S17,400.00 to provide funds with
which to construct and install a sewer system and sewage dis-
posal plant in and for the Village of McCall , Valley County,
State of Idaho , by purchasing the necessary materials , construct-
ing and laying sewer mains , laterals and sedimentation tank,
as described in Ordinance No. 85 , approved the 7th day of
October, 1935 :
NOW, THEREFORE, BE IT ORDAINED BY THE CH 'iIRMAN AND BOARD
OF TRUSTEES OF THE VILLAGE OF McCALL, VALLEY COUNTY, STATE OF
IDAHO: •
Section 1. That said bonds will be sold at public sale
at a special meeting of the Board of Trustees of said Village
of McCall , to be held at the Village Hall in said Village of
McCall , County of Valley, State of Idaho, at the hour of eight
o'clock P. M. , on the 16th day of October, 1936.
Section 2. That notice is hereby authorized , ordered and
0 directed to be given by publication in "The Payette Lake Star'1
a newspaper printed and published in said Village of McCall
and of general circulation in said Village, which said newspaper
is hereby designated as the official newspaper for said pub-
lication, for at least three consecutive publications therein
at weekly intervals , by the chairman and Board of Trustees of
said Village of the proposal to sell such bonds and inviting
bids for the purchase of said bonds , which notice shall be in
substantially the following form, to-wit :
NOTICE OF PROPOSAL TO ISSUE AND SELL BONDS OF
THE VILLAGE OF McCALL, VALLEY COUNTY, STATE
OF IDAHO,IN THE PRINCIPAL SUM OF SEVENTEEN
THOUSAND FOUR HUNDRED DOLLARS, AND INVITING
BIDS THEREFOR.
PUBLIC NOTICE IS HEREBY GIVEN, that the Chairman of
the Board of Trustees and the Board of Trustees of the Village
of McCall , Valley County, State of Idaho , intend to sell the
general obligation coupon bonds of said Village of McCall,
Valley County, Idaho, in the principal sum of $17,400.00 ,
which said bonds shall be dated November 1st, A. D. 1936, or
on the first day of any month thereafter as hereafter fixed
by said Board of Trustees , the first of which bonds shall be
of the denomination of $400.00 , and seventeen of said bonds
shall be of the denomination of $1,000.00 each, and shall bear
interest at a rate not in excess of six per cent per annum,
payable semi-annually, both principal and interest being pay-
able at the office of the Village Treasurer of said Village,
or at the office of the Treasurer of the State of Idaho, at the
City of Boise, State of Idaho, or at some bank or trust company
in the City and State of New York to be designated by said
village of McCall ; and said bonds shall mature in numerical
order, lowest number first, in the following aggregate annually
maturing principal amounts , viz:
Bond No. Amou n t Maturity
1 °+' 400.00 November 1 , 1938
2 V1000.00 November 1 , 1939
3 1000.00 November 1 , 1940
4 41000.00 November 1, 1941
5 41000.00 November 1 , 1942
6 41000.00 November 1, 1943
7 01000.00 November 1 , 1944
8 V1000.00 November 1, 1945
9 41000.00 November 1, 1946
10 01000.00 November 1 , 1947
11 V.000 .00 November 1 , 1948
12 41000.00 November 1 , 1949
13 41000.00 November 1 , 1950
14 41000.00 November 1 , 1951
15 V-1000.00 November 1 , 1952
16 41000.00 November 1 , 1953
17 41000.00 November 1 , 1954
18 41000.00 November 1, 1955
• Sealed bids for said bonds aforesaid will be received
by the Village Clerk at his office in the Village of McCall,
at any time prior to eight o' clock P. M. , on the 16th day of
October, A. D. 1936, at which time and. in the regular meeting
place of said Village Board of Trustees the said Chairman and
Board of Trustees of said Village will meet in public meeting
for the purpose of 'considering any bids which may be received
for said bonds and for the purpose of awarding said bonds , and
any part thereof as may be deemed adviseable , or rejecting any
and all bids therefor. In the event that no advantageous bids are
received for said bonds at the time designated above, then said
meeting will be continued from day to. day at weekly intervals
for the further reception, consideration, awarding or rejection
of other or additional bids .
Bidders are 'requested and required to submit bids for
said bonds specifying the lowest rate of interest and premium,
if any above par , at which the bidder will purchase said bonds,
or the lowest rate of interest at which the bidder will purchase
such bonds at 'par. Each bid (except any bid which may be
i
received from the State of Idaho or its Department of Public
Investments) must be accompanied by a certified check made
payable to said Village of McCall in an amount equal to five
per cent of the amount of any such bid, or cash deposit of
like amount, which certified check or cash deposit shall be
feturned if the bid submitted is not accepted. The certified
check or cash deposit of any' successful bidder who shall fail ,
neglect or refuse to accept the bonds so sold, and to complete
and pay therefor in accordance with the terms of his bid with-
in thirty days following the acceptance thereof, shall be
forfeited to said Village of I:'icCall.
- That none of said bonds shall be sold for less than
their face or par value and accrued interest thereon to date
of delivery. The said Village of lIcCall reserves the right
to reject any and all bids.
Dated at McCall , Idaho, this 24th day of September,
A. D. 1936.
VILLAGE OF McC ALL, IDAHO
By W. C. Peer
Chairman of the Board of Trustees
Attest:
W. E. Jordan
Village Clerk.
(SEAL )
Section 3. This ordinance shall be in full force and
effect from and after its passage , approval and due publication.
i'- Passed this 24th day of September, 1936.
Approved this 24th day of September, 1936..
Attest Chairman of the Board of Trustees
of the Village of T:' cCall , Valley
�.t57:1-7766"-t-/. County, State of Idaho.
7illage Clerk