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111 Coupon Bonds Election .277 ORD INANCE NO. III BY COUNCILMEN WILLIAM S. BROWN AND W. DEAN MAYi<.;S I AN ORDINANCE SUBMITTING TO THE QUALIFIED ELECTORS OF THE CITY OF MERIDIAN, ADA COUNTY ,IDAHO I WHO ARE TAXPAYERS THEREOF FOR THEIR DEI'ERMINATION, THE QUESTION OF ISSUING THE NEGOTIABLE COUPON BONDS OF THE CITY OF MERIDIAN, ADA COUNTY, IDAHO, IN THE SUM_ OF TITENTY- FIVE THOUSAND ($25:,000.00) DOLLARS TO PROVIDE FUNDS WITH WHICH TO CONSTRUCT A HUNICIPAL SWlMHING POOL OF THE CITY OF l1ERIDIAN, ADA COUNTY, IT>AHO I FIXING THE T IHE AND PLACE OF Horn ING SUCH ElliCT ION; BESIGNATING AND APPOINTING A REGISTRAR FOR SUCH ELECTION; PRESCRIBING THE FORM OF THE BALLOT TO BE USED AT SUCH ELECTION; DmECTING THAT NOTICE OF SUCH ELECTION BE GIVEN AND PRESCRIBING THE FORM THEREOF;DESIGNATING AND APPOINTING THE JUDGES OF SUCH . ELF..GTION; PROVIDING FOR THE ISSUANCE OF SAID BONDS, THE MAXJJ.rIUM RATE OF INTEREST SAID BONDS SHALL DEAR, AND THE ULTJNATE HATURITY FOR SAID BOND ISSUE} PROVIDTIJG FOR ANNUAL AMORTIZED MATURITIES FOR SAIT> BOND ISSUE; PROVIDING THE METHOD OF PAymG THE PRINCIPAL AND INTEREST OF SAID BOND ISSUE; FIXING THE EFFECTIVE DATE OF THIS ORDINANCE; AND REI:EALING AU, ORDINANCES OR PARTS OF OTHER ORDINANCES IN COl\TfLICT IN WHOLE OR IN PART HEREWITH. WHEREAS, it appears necessary for the best interests of-the City of Meridian, Ada'County, Idaho, that a municipal sw:iJnming pool be constructed by said city; and I WHEREAS, it is contemplated that the cost of constructing said swimming pool in the city of Meridian, Ada County, IdahO shall be paid for by the City of Meridian, Ada County, Idaho, at large, and out of the general funds of such City; and WHEREAS, the City of Meridian, Ada County, Id<;1.ho is unable to provide the necessary funds for the construction of said swimming pool out of the general levy; WHEREAS, it is deemed advisable to issue negotiable coupon bonds of the City of Meridian, Ada County, Idaho, in the sum of $25,000.00 to provide funds with which to construct said swimming pool of the City of Heridian, Ada County, Idaho. NOW, THEREFORE, be it ordained by the Mayor and Council of the City of Meridian: SECTION 1. A special bond election is hereby ordered and _ called to be held within the City of Meridian, Ada County, Idaho, at the time and at the voting places hereinafter designated and established, for the purpose of submittinr to the qualified voters of the City of Meridian, Ada County, Idaho, who are taxpayers thereof, for their determination'~J.the question of issuing negoti- able coupon bonds of the Ctiy of Meridian, Ada County, Idaho, in the sum of $25,000.00 to provide funds with which to construct a municipal swimming pool for the City of Meridian, Ada County, Idaho. SECTION 2. This special bond election shall be held on April 25, 1961 and the polls for this eiection shall be opened at the hour of 9:00 o'clock A.M. of said day and shall remain open continuously and shall be closed at the. hour of 7:00 o'clock P.M. of such day. The polling places are hereby designated as follows: For the first ware, The Methodist Church situated at $33 East 3rd Street in the City of Heridian, Idaho; and for the ~econd Ward, the City Hall -situated at 72S Meridian Street in the City of Meridian, Idaho. SECTION 3. Herald J. Cox, City Clerk of the City of Heridian, Ada County, Idaho, is hereby designated and appointed as. the- ... . registrar for this special bond election and shall regist'er - - electors therefor at the City Clerk I s Office in the City Hall in the City of Heridian, Ada County, Idaho. SECTION 4. The voting at this special bond election shall be by secret and separate ballot and such ballot shall be in sub- stantially the form as follows: OFFJC IAL BALLOT SPECIAL MUNICIPAL BOND ELECTION City of Meridian, Ada County, Idaho April 25, 1961 INSTRUCTIONS The voter shall make a cross eX) in the appropriate space . opposite the words which express his choice onthe question submitted. 278 Ordinance No 111, Cont1d. In favor of issuing bonds in the amount of $25,000.00 for the purp0sees stated in Ordinance No. 111 ----------- c::==J Against issuing bonds in the amount of $25,000.00 for the purposes state in Ordinance_ No. 111 SECTION 5. The City Clerk of the City of Meridian, Ada County, Idaho, shall give thirty days notice of this special bond election by causing a notice thereof to be published for a period of thirty days prior to the time of holding such election in the News-Times, a newspaper published Bnd in general circula- tion in the City of Meridian, Ada County, Idaho, and by posting notices thereof at least thirty days prior to the time of holding such election in three of the most public places in each ward in the City of Meridian, Ada County, Idaho one of such notices to be posted at each polling place where such election is authorized to be held, and the others of such notices to be posted at the most public and most suitable places in the said City of Meridian, Ada County, Idaho, which notice shall be substantially in the following form: NOTICE OF SPECIAL 11UNICIPAL BOND ELECTION NOTICE IS HEREBY GIVEN, PURSUANT TO THE LAWS OF THE STATE OF Idaho and ordinance No. 111 of the City of Meridian, Ada County, Idaho, that a special bond election will be held in the City of Meridian, Ada County, Idaho at the voting places hereinafter designated, on April 25, 1961, beginning at the hour of nine olclock A.M., and closing at the hour of seven olclock P.M., of said day, for the purpose of taking a vote of the qualified electo s of the City of Meridian, Ada County, Idaho who are taspayers thereof upon the question of issuing the negotiable coupon bonds of the City of Meridian, Ada County, Idaho, in the sum of $25,000.00 to provide funds for construction of a municipal swimming pool in said city. NOTICE IS FURTHhli GIVEN that this special bond election shall be held within and a vote upon such question taken within the City of Meridian, Ada County, Idaho, and the designated polling places shall be as follows: for the first Ward, the Methodist Church situated at S33 East 3rd Street in the City-of Meridian, Idaho; and for the Second Ward, the City Hall situated at 72f5 Meridian Street in the CiGY of Meridian, Idaho. NOTICE IS FURTHER GIVEN THAT EACH AND EVERY PERSONIS REQUIRErr to register as provided by the laws of the State of Idaho in order to vote at this special bond election; that the place of registra- tion shall be at the City Clerk1s Office in the City Hall of ' the City of Meridian, Ada County, Idaho; that the name of the registrar for this special-bond election is Herald J. Cox, the City Clerk of the City of Meridian, Ada County, Idaho; and that persons may register to vote at this special bond election at the place and with the registrar hereinbefore named at any time during office hours, beginning-with the day that ti;is notice of election is given, and each day thereafter until and including the Saturday next prectiding the election and on the Thursday, Friday and Saturday next preceding the election, persons may register between the hours of nine o'clock A.M. and Five olclock P.M. and between the hours of seven Olclock P.M. and nine olclock P.M. NOTICE IS FURTHER GIVEN that the voting at this special bond election shall be by secret ballot which ballot shall be in the form set for th in Ordinance No. Ill. DATED This 22nd day of March, ~....7 L--/ H~. . City erk SECTION 6. For the First Ward, JvIrs. Rudy Rossow ---::-' Mrs. Harry Radloff and Mrs. Clyde vlaitley and- for the Second Ward, Harold R. Frost ,Mrs. Chester Chapman and Hrs Jack Lyman are hereby designated and appointed to act as judges of . this special bond election. SECTION 1. . If the issuance of such bonds shall be approved at this special bond election, there shall be issued in accordance- with this ordinance- and the general laws of the State of Idaho, the negotiable coupon bonds of the City of J:.1eridian, Ada County, Idaho, in the sum of $25,000.00 for the purposes provided in Section 1 of this ordinance. All such bonds shall bear interest at the rate or rates not exdeeding six per cent per annum. No bonds shall be issued to run for a longer term than twenty years from the date of the issuance thereof. SECTION f5. All bonds issued pursuant to this ordinance shall mature and be payable upon an annual amortization plan, the first annual amortized principal payment shall mature and be payabJe at the expiration of two years from and after the date of issue, and CJ (t. I I I I Ordinance No Ill, Cont'd the various annual maturities shall, as near as practical, be in such principal amounts as will, together with accruing interest on all outstanding bonds of this issue, be met and paid by an equal annual tax levy for the payment of the principal of said bonds and interest thereon during the term for wh~ah said bonds shall be issued. SECTION 9. There shall be levied annually at the time ..lhen and in the manner which other general taxes of the City of Meridian, Ada County, Idaho are levied, and upon all the taxable property within the City of Meridian, Ada County, Idaho, in addition to all other authorized taxes and assessments, a tax addition to all other authorized taxes and assessments, a tax sufficient to mett the payments of the principal and interest on such bonds as the same mature, and to constitute a sinking fund for the payment of the principal amount of suxh bonds within twenty years from the time of contracting the indebtedness evidenced bhereby and in accordance with the provisions made for the pay- ment of the principal and interest of suxh bonds and also to constitute a sinking fund for the payment of the principal there- of as required by the Constitution and Laws of the State of Idaho. Such tax shall be assessed, levied and collected in the same manner as other taxes for general municipal purposes and the proper officer or officers of the City of Meridian, Ada Couu.ty, Idaho shall do all things requisite and necessary to carry out the provisions therof with respect to the levy and collection of such taxes until the principal and interest of all of said bonds and interest thereon shall be fully paid. All of such taxes when colledted shall be credited to the City Treasurer of the City of Meridian, Ada County, Idaho, to a separate fund distinct from the funds of the payment of principal and interest on bonds of any other series or issue, and apart from any other funds of the City of Meridian, Ada County, Idaho. '. _ SECTION 10. This ordinance shall be in full force and effect from and after its passage, approval and publication as provided by law, and shall not be repealed during the life of such bonds. SECTION 11. All ordinances or parts of other ordinances in conflict in whole or in part herewith are herby repealed. PASSED by the Council of the City of Meridian, this 22nd day of March, 1961. APPROVED by the Mayor of the City of Meridian, this 22nd day of March, 1961. 279 . ---" .......... ......-" ....... -- - -. ", '" 1 ,; '4..----. /1 .' t, I ~'I (;;"'--------' , I...! ... " II,,{/\ ( S-eal) , .' 1/ ./ ,0"""