HomeMy Public PortalAboutOrd. 94 - Notice of Proposal to Issue & Sell Bonds '/t///// •
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ORDINANCE NO. 94
AN ORDINANCE AUTHORIZING NOTICE OF PROPOSAL TO ISSUE AND SELL
NEGOTIABLE COUPON BONDS OF THE VILLAGE OF McCALL, VALLEY
COUNTY, STATE OF IDAHO, IN THE PRINCIPAL SUM OF SEVENTEEN
THOUSAND FOUR HUNDRED DOLLARS , AND INVITING BIDS THEEFOR,
AND PRESCRIBING THE FORM OF NOTICE TO BE GIVEN, AND REPE".LLING
ORDINANCE NO. 92 OF THE VILLAGE OF McCALL , VALLEY COUNTY,
IDAHO.
WHEREAS , on the 18th day of November, 1935, at a special
municipal bond election held in and for the Village of McCall ,
Valley County, State of Idaho, pursuant to Ordinance No. 85
passed by the Board of Trustees of said Village on the 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 17 ,400
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 materials , constructing and laying sewer mains ,
lateral and sedimentation tank, as described in Ordinance No.
85, approved the 7th day of October, 1935:
NOW, THEREFORE, BE IT ORDAINED BY THE CHAIRMAN 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, Valley County, State of Idaho, at the hour of eight
o' clock P. M. , on the 30th day of October, 1936.
0 Section 2. That notice is hereby authorized, ordered
and directed to be given by publication in "The Payette Lake
Stain 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 publication, for at least three consecutive publica-
tions 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 GIVE) That the Village of McCall,
Valley County, State of Idaho , intends to issue and sell its
general obligation coupon bonds in the sum of 0.7 ,400 , bearing
interest at a rate not exceeding 6% per annum, said bonds to
be issued on the amortization plan and to commence two years
after date of issue and all to mature within twenty years
after date of issue. Said bonds to be amortized pursuant to
Section 55-211 of the Idaho Code Annotated, 1932 , as amended
by Chapter 95 of the 1935 Session Laws of the State of Idaho,
principal and interest on said bonds to be payable at the
office of the Village Treasurer of the Village of McCall ,
Valley County, State of Idaho, or at the office of the Treasur-
er 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 the said Village of McCall.
Sealed bids for said bonds aforesaid will be received
by the Board of Trustees of said Village of McCall at the
office of the Village Clerk of said Village at the Village
Hall on or before Friday, the 30th day of October, 1936, at
the hour of eight o' clock P.H. of said day, at which
time and in the regular meeting place of said Village
Board of Trustees the said Chairman and Board of Trus-
tees of said Village will meet in public meeting for
the purpose of considering any bids which may be re-
ceived for said bonds and for the purpose of awarding
said bonds , and any part thereof as may be deemed ad-
visable, or rejecting any and all bids therefor.
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 received from the State
of Idaho or its Department of rublic 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 returned if 1
the bid submitted is not accepted. The certified check or
cash deposit of any successful bidder who shall fail , neg-
lect or refuse to accept the bonds so sold, and to complete
and pay therefor in accordance with the terms of his bid
within thirty days following the acceptance thereof, shall
• be forfeited to said Village of McCall .
Said bonds shall be sold at not less than par and
accrued interest to date of delivery. Said Village of McCall
reserves the right to reject any and all bids .
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IN WITNESS WHEREOF, The Board of Trustees of the
Village of -McCall , Valley County, State of Idaho, has
caused this notice to be given. by its Chairman and Clerk
this 5th day of October, A.D. 1936.
W. C . Peer
Chairman of the Board of Trustees
of the Village of McCall , Idaho.
ATTEST:
:ATTT:
W. E. Jordan
Village Clerk'
(S E A L)
11 Section 3. That Ordinance No. 92 of the Village of McCall,
Valley County, State of Idaho , be , and the same is hereby re-
pealed.
Section 4. This ordinance shall be in full force and effect
from and after its passage, approval and due publication.
Passed this 5th day of October , 1936.
Approved this 5th day of October , 1936. .
,;?; 7(74T-e //
Chairman of the Board of
Trustees of the Village of
McCall , Valley County,State
ATTEST: of Idaho.
Vill Clerk
(S E A L )
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