0013 Water Works Revenue Bonds 1952
0013 Water Works Revenue Bonds 1952
6/9/2014 4:39:59 PM
3/1/2005 12:26:07 PM
Water Works Revenue Bonds
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ORDINANCE N0. 13 <br />AN ORDINANCE AMENDING SUBDIVISION D. OF SECTION 2 OF ORDINANCE NO. <br />10 OF THE VILLAGE OF CHUBBUCK, BANNOCK COUNTY, IDAHO, RELATING TO <br />THE TENTATIVE SCHEDULE OF THE RETIREMENT AND PAYMENT OF PRINCIPAL <br />AND ' INTEREST OF THE WATER WORKS REVENUE BONDS OF THE VILLAGE OF <br />CHUBBUCK; PROVIDING THE MAXIMUM RATE OF INTEREST FOR SAID BONDS, <br />THE PAYMENT OF PRINCIPAL AND INTEREST THEREON; THE AMORTIZATION <br />OF SAID BONDS TO BE AMORTIZED AND PAYABLE IN ACCORDANCE WITH THE <br />PROVISIONS OF THE MUNICIPAL BOND LAW OF THE STATE OF IDAHO, AND <br />PROVIDING FOR THE PUBLICATION OF AND TIIE OF TAKING EFFECT OF <br />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 subdivision d ofeeetion 2 of Ordinance No. <br />10, of the Village of Chubbuck, be, and the same.is hereby amended <br />to read as follows: <br />tad. That said revenue bond issue shall be for $70,000.00, <br />and shall consist of not more than 140 coupon bonds of <br />denomination of $500.00 each, or such other denominations <br />as the Board of Trustees may authorize after-the sale of <br />said bonds, numbered from One (1) upward consecutively, <br />and shall run for a period of twenty (20) years from <br />date of issue, the first annual amortized principal <br />payment shall mature and be payable at the expiration <br />of two (2) years from and after date of said bonds, and <br />the annual principal bond maturities thereof, and the <br />principal amounts which will be payable annually, shall <br />be amortized and payable in accordance with the provisions <br />of the Municipal Bond Law of the State of Idaho, the <br />principal and interest of said bonds being payable solely <br />out of and from the revenues of said 'dater Works System, <br />as provided by this ordinance and future ordinances <br />passed and adopted by the said Village of Chubbuck; <br />said bonds shall bear interest at a rate not exceeding <br />four percentum (4 %) per annum, which interest shall be <br />payable semi - annually after date of issue of the bonds, <br />with interest coupons attached evidencing the interest <br />then payable, and shall be payable, both principal and <br />interest, at the Office of the Treasurer of the Village <br />of Chubbuck, or at such bank as may be designated by the <br />purchaser of said bonds at the time of said purchase, and <br />all collection charges by banks so designated are to be <br />paid by purchasers; said bonds shall be signed by said <br />Village by the Chairman of the Board of Trustees thereof, <br />countersigned by the Village Treasurer, and attested by <br />the Village Clerk with the seal of said Village impressed <br />upon each bond, and the signature of the Treasurer upon <br />the coupons may be either printed or lithographic facsimile <br />of said Official; and consistent with the provisions to be <br />made by subsequent ordinances, said bonds and the interest <br />thereon shall be payable only out of a special water works <br />revenue fund or funds." <br />Section 2. This ordinance shall take effect and be in full <br />force and effect from and after its passage, approval and due <br />publication in one issue of the Idaho State Journal, a newspaper <br />printed and published ,in Pocatello, Bannock County, Idaho, and having <br />a circulation in said Village, there being no newspaper published in <br />said Village, said newspaper being hereby designated as the official <br />
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