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a. <br />ORDINANCE NO. 11, <br />AN ORDINANCE PROVIDING FOR THE ISSUANCE OF $700000.00 OF 'MATER <br />WORKS SYSTEM REVENUE BONDS OF THE VILLAGE OF CHUBBUCK, BANNOCK <br />COUNTY, IDAHO, WHICH BONDS SHALL BE PAYABLE ONLY OUT OF THE <br />EARNINGS AND REVENUES OF SAID SYSTEM; PROVIDING FOR THE FORM OF <br />SAID BONDS AND INTEREST COUPONS TO BE ATTACHED THERETO AND FOR <br />THE PAYMENT AND REDEMPTION THEREOF; CREATING A SPECIAL FUND IN <br />THE OFFICE OF THE VILLAGE TREASURER TO BE KNOWN AS "WATER WORKS <br />SYSTEM REVENUE SPECIAL FUND OF 1951" AND PRESCRIBING THE FUNDS <br />TO BE PLACED THEREIN AND WITHDRAWALS THEREFROM; CREATING A SPEC - <br />IAL RESERVE ACCOUNT TO BE KEPT IN A DESIGNATED BANK AND PRESCRIB_ <br />ING THE FUNDS TO BE PLACED THEREIN AND THE WITHDRAWALS THEREFROM; <br />PRESCRIBING THE PURPOSES TO VVHI.CH THE PROCEEDS OF THE SALE OF <br />SAID BONDS MAY BE APPLIED AND THE USE AND DISPOSITION THEREOF: <br />PRESCRIBING THE USE AND DISPOSITION OF THE REVENUE OF THE SAID <br />WATER -WORKS SYSTEM FOR WHICH SAID BONDS ARE TO BE ISSUED, INC- <br />LUDING THE CREATION AND MAINTENANCE OF RESERVES; PROVIDING FOR <br />THE TRANSFER FROM THE GENERAL FUND OF THE VILLAGE TO THE ACCOUNT <br />OR ACCOUNTS OF THE WATER WORKS SYSTEM. REVENUE SPECIAL FUND OF <br />MONEYS FOR FURNISHING THE MUNICIPALITY OR ANY OF ITS DEPARTMENTS, <br />BOARDS OR AGENCIES WITH THE SERVICES, FACILITIES AND COMMODITIES <br />OF SUCH WORKS; PROVIDING FOR THE OPERATION AND MAINTENANCE OF <br />SUCH WORKS AND THE ESTABLISHMENT OF RATES FOR WATER AND SERVICES <br />FURNISHED; PROVIDING FOR INSURANCE TO BE CARRIED ON SAID WATER <br />WORKS SYSTEM AND THE USE AND DISPOSITION OF THE INSURANCE MONEYS; <br />PROVIDING FOR THE INSPECTION OF ALL ACCOUNTS OF THE VILLAGE PER- <br />TAINING TO THE SAID WATER FORKS SYSTEM, THE MAINTENANCE. AND <br />OPERATION THEREOF AND AUDIT THEREOF; PROVIDING THE TERMS AND <br />CONDITIONS UPON WHICH THE HOLDERS OF SAID BONDS OR A SPECIFIED <br />PERCENTAGE THEREOF SHALL BE ENTITLED TO THE APPOINTMENT OF A <br />RECEIVER AND PROVIDING THE POWERS AND DUTIES OF SUCH RECEIVER <br />WHEN SO APPOINTED, AND PROVIDING SAID TERMS AND CONDITIONS SHALL <br />BE A CONTRACT WITH THE HOLDERS.OF SAID BONDS AND FOR THE ENFORCE- <br />MENT OF THE DUTIES OF THE M °tjNl`CIPALITY AND ITS GOVERNING BODY <br />UNDER THE PROVISIONS OF CHAPTER 47, 1051 SESSION LAWS OF IDAHO <br />AND THE PROVISIONS OF THIS ORDINANCE; PROVIDING FOR THE LIEN <br />OF SAID BONDS; PROVIDING THE FUNDS FROM WHICH SAID BONDS SHALL <br />BE PAID AND PROVIDING SAID BONDS SHALL BE PAYABLE SOLELY FROM <br />THE REVENUE PLEDGED FOR THE PAYMENT THEREOF; PROVIDING FOR THE <br />ISSUANCE OF INTERIM RECEIPTS OR CERTIFICATES AND THE FORMS AND <br />PROVISIONS THEREOF AND PROVIDING FOR THE PUBLICATION OF AND <br />EFFECTIVE DATE OF THIS ORDINANCE. <br />WHEREAS, pursuant to the provisions of Chapter 47, 1951 <br />Session Laws of Idaho, the Village of Chubbuck, Bannock.,County, <br />Idaho, passed and adopted Ordinance Number Ten of said Village <br />providing for the acquisition, construction and installation by <br />said Village of :a water workd system for said Village, upon <br />approval of the qualified voters at an election called therefor, <br />and <br />WHEREAS, at an election duly held on August 27, 1951, water <br />works revenue bonds in the amount of X70,000.00, Mete authorized <br />for the construction, installation and acquisition of such water <br />works system, and <br />WHEREAS, certain requirements must be complied with by the <br />said Village prior to the issuance of said revenue bonds. <br />NOW, THEREFORE, BE IT ORDAINED BY THE CHAIRMAN AND BOARD <br />OF TRUSTEES OF THE VILLAGE OF CHUBBUCK, BANNOCK COUNTY, IDAHO: <br />Section 1. That for the purpose of obtaining and providing <br />sufficient funds for the acquisition of, construction and install- <br />ation of said water works system, and in order to pay the costs <br />