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ORDINANCE NO. . <br />AN ORDINANCE AUTHORIZING NOTICE OF INTENTION AND PROPOSAL BY <br />THE CHAIRMAN AND BOARD OF TRUSTEES OF THE VILLAGE OF CHUBBUCK, <br />BANNOCK COUNTY, IDAHO, TO ISSUE AND SELL NEGOTIABLE WATER WORKS <br />REVENUE BONDS OF THE VILLAGE OF CHUBBUCK IN THE AMOUNT OF <br />$70,000.002 BEARING INTEREST AT NOT TO EXCEED FOUR PERCENT (4f) <br />PER ANNUM AND REDEEMABLE WITHIN TWENTY YEARS, BONDS TO BE ON <br />THE AMORTIZED PLAN, AS PROVIDED BY THE MUNICIPAL BOND LAW OF THE <br />STATE OF IDAHO; INVITING BIDS FOR THE PURCHASE OF SAID BONDS, AND <br />PROVIDING THE FORM OF NOTICE TO BE GIVEN OF THE INTENTION AND <br />PROPOSAL TO ISSUE AND SELL SUCH BONDS; PROVIDING FOR THE PUB- <br />LICATION OF THIS ORDINANCE AND OF SUCH NOTICE AND PROVIDING A <br />TIME OF TAKING EFFECT OF THIS ORDINANCE. <br />BE IT ORDAINED BY THE CHAIRMAN AND BOARD OF TRUSTEES OF THE <br />VILLAGE OF CHUBBUCK, BANNOCK COUNTY, IDAHO: <br />Section 1. That pursuant to authority granted at a Special <br />Bond Election held in the Village of Chubbuck, Idaho, on to -wit, <br />August 27 1951 ' authorizing the Village of Chubbuck to issue <br />and sell 70,000.00 of negotiable water works revenue bonds of <br />the Village at a rate of interest not exceeding four percentum <br />(4 %) per annum for the acquisition, construction and installation <br />of a water works system for the said Village, and pursuant to <br />Ordinance Number 11 of said Village providing for the issuance <br />and sale of said bonds, and the form of bonds and coupons and <br />other matters relating thereto, authority is hereby granted to the <br />Chairman and Board of Trustees of the Village of Chubbuck to give <br />notice of the intention and proposal of the Board of Trustees of <br />said Village to issue and sell the said bonds, and invite bids <br />for the purchase of said bonds and provide in such notice the <br />terms and conditions of the bids therefor, and the time for filing <br />of such bids, opening of said bids and action thereon by the <br />Board of Trustees of the Village. <br />Section 2. Notice of intention and proposal to sell the said <br />bonds shall be in form as follows, to -wit: <br />NOTICE <br />Of Proposal to Issue and Sell Negotiable mater Works Revenue Bonds <br />of the Village of Chubbuck in the Amount of $70,000.00, with <br />Interest Not to Exceed Four Percentum Per Annum, Redeemable Within <br />Twenty Years on Amortized Plan to Provide Funds for the Acquisition, <br />Construction and Installation of a Water Works System for the <br />Village of Chubbuck, Bannock County, Idaho, and Inviting and <br />Requesting Bids Therefor. <br />PUBLIC NOTICE IS HEREBY GIVEN, That the Village of Chubbuck, <br />Bannock County, Idaho, intends to and proposes to sell negotiable <br />mater works revenue bonds of said Village in the amount of <br />$70 000.00, par value, with interest not exceeding four percentum <br />(4 %5 per annum; said bond issue to consist of not more than 140 <br />coupon bonds of denominations of $500.00 each, or such other <br />denominations as the Board of Trustees may authorize after the <br />sale of said bonds; bonds to be numbered from one (1) upwards <br />consecutively, and shall run for a period of twenty years from <br />date of issue; the first annual amortized principal payment shall <br />mature and be payable at the expiration of two years from and after <br />date of said bonds, and the annual principal bond maturities thereof <br />and the principal amounts, which will be payable annually, shall be <br />amortized and payable in accordance with the provisions of the <br />Municipal Bond Law of the State of Idaho, the principal and interest <br />of said bonds being payable solely out of and from the revenues of <br />said water works system of the Village of Chubbuck, as provided by <br />Ordinances of the said Village; the interest on said bonds shall be <br />payable semi- annually after date of issue of the bonds with <br />interest coupons attached evidencing the interest then payable, <br />and shall be payable, both principal and interest, at the Office <br />of the Treasurer of the Village of Chubbuck, or at su* bank as <br />may be designated by the purchaser of said bonds at the time of <br />