HomeMy WebLinkAboutORDINANCE NO. 430 BONDSPq(
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Ordinance thok (Sty of ReAng, Rexburg, Idaho
Q. MIL JAHAMMIT DISTRICT GUMMATEV: From moneys received an account or 0xos Levied
and other sources avaPablq, there is hereby approprinked to the Local improvement District Guarantee
Fund the sum of 12,033-11.
SECTION 6. This ordinance shall take eff and he In force from and after its passage and
publication rs re by law.
PA33ED AND APPPOIND this M iny of 012rch, 1962.
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(seal)
ATTNST:
City Clerk.
CRDIHAMOV NO. 130.
AN ORDINAICH MOVIDINU FOR, AND FMCHIMMS DETAILS IN COMWECTIOP WITH,
A Si IAL &ACTION TO VOTE UPON TIP nunSTIM OF 13SUING WATM AID
S HEVAJUn MILK] FOR 'I'll i'URIOS& OF DMAY]AG IN FART THE GOS"
OF GONSTRUCIDIA A SEIM STMILIZATICH PUM AID INVAGEPTOR LLMS,
AND TAPROVING, MIMING AID nXT&DING THE JUNICIPAL Si .,u' GOLLNGTIal
SYSTRI: RATFFYM AJTION MVIOUSM Mind TOWARD TH, COMMUGTION OF
SAID STAHMI.ATION FOOD MD iNTIARGEPTOR LINES, AID LIPHOVIA3, MT&HING
AND TTEADINA THY AUNIGIPAL SMIME 101,110TION ti 1 M, AND TUN MMAHQ
OF WATM AND S& AR RoVIAM HONDS TPREFOR: GTHMAIM COMMIN! ZLID
Sr ST&A KID MID BOADS: AND DKOLARIVIG Aj hAMEACY.
AMEAS the City or Rexburg, in the County of abadison and State of Idaho, . LS a MUMMP
cori oration duly orqunized nnq exlst,VE art n city of the second class under the laws of the Stone 7f
Idaho; and , LIMA the City is prev enl•ly in need of additional sewage Vnbilizat,!on ponds, intercep-
tor Line- and appurtenances thereto; and Mher general imlrovemen& to the municipal sewage collection
syF Lem; and
NHvREAS the lack of an additional sewage VabiLisation pond, interceptor lines, and all
improved sewag- collection system creates sulpstnntiri health hazard within sail City; and
.11M AS the City Council has determined and does her determine that the interest f
the connunit7 and the jublic interest and necessity re Lire an improved municilol sewage 0 Mectlan
system including, without limiting the generality of the foregoing a sewage stabilization pond,
interceptor lines and appurtenances thereto; and
WHMAS, the City Council has determined Ynd does herehV deterialne that the City shn11
provide an improved municipal sewage collection system by constructing a sewage Vabilinanon pond,
interceptor lines, and appurtenances thereto; and
WHEREAS, for the purpose of constructing a sewNge stabilization pond anP interceptor LineS,
and improving, bettering and extending said municital sewage collecLinn system Lhe City Council furMi
deems it necessary to issue its negntinble, coupon, water and sewer revenue tends in the angregVe
principal amount of 8330,003-CO, Payable solely from the revenues or the City's water and sewnge works,
pursuant to the Idaho Revenue Bond Act, cited as Chapter h7, Session LL of Idaho, 1951, and all 0wo
thereunto enabling; and
WHYR&S, said revenue hands shall not be a debt of said city and it shall not be IiMe
thereon, nor shall said bonds be payable out of any funds other than the revenue from said works pledoed
to the payment thereof; and
WHEREAS said revenue bonds cannot he issued witimul, the assent of two-thirds of Me nunlified
electors of said City voting at an election held for the purpose of authorizinF or refusing to authorive
said liability or obligation.
NOW THERnFORL, Ps IT MDAIM BY THY TIAYOR AID OTT! COUNCIL OF THh CITY GY MEKBURG, IDAHO:
Section 1. That all action heret-Core taken (not inconsistent with the provisions of this
ordinance) by the City Council and the officers or the City or Rexburg, directed toward improving,
the municipal sewage collection syHtem including, without limiting the ganeraLity or the foregoing,
constructiqn of a sewage sitabili - allan pond, interceptor 'fines and appurtenances s thereto and the
issuance of water and sewer rev nuq bonds therefor; and toward holding the special municipal Bond
election hereinafter huhhorized be, and the same hereby is, ratified, approved nd confirmed.
Section 2. That, subject to the assent of two-thirds of the electors voting thereon, it ir
hereby ordered that the City of Rex shall issue its water and sewer revenue bonds to imurove, better
and Mend its municipal sewagn collection system.
Section 3. That such improvements, betterments and extensions briefly and generally described,
shall consist of constructing a sewaqe stakilisation pond, interceptor lines, and necessary at purkenmnces
1061 _.
Ordinance Boob, V ity of Rexburg, Rexburg, Idaho
Section K. That the details of cons!,ruction of said system are more specifically shown and
described in the maps, plans, and specifications prepared therefor by Cornell, Howland, Hayes & uerryfield,
Consulting engineers to said City; and reference for further details is hereby made to said maps, plans
and specifications now on file nd avai Ole for Inspection in the office of the Clerk of said City.
Section 5. That the cost of improving, be tE !n,q and extansinf said system, including all
incidental expenses, has been estimated by said Consulting Engineers to be approximately -451,000.00,
of which 8330,000.00 will be defrayed with the p ocneds of water rand sewer revenue bonds, and the
remiainin, cost will he defrayed with the proceeds of a Federal Grant.
Section 6. That rursuant to the Revenue. Bond Act of the State of Idaho, it is deemed
ndvisnble by said City Council to issue, there shall be issued, and said Council hrooby orders the issuance
of, subject, to t'r_ assent of two- thirds of the electors voting thereon, water and sewer revenue bonds of
said City, in one or more series, in not to exceed the aggregate i;rincipal amount of 3330,000.00.
Section 7. That such revenue bonds shall bear interest at a rate not to exceed sip, per cent
(6%) per annum, payable semiannually, nod shall matur�_� serially commencing- not later than twenty -one
,years from the date or dates of the bonds, subject to prior redemption ten years from date or on any
interest payment, date thereafter upon s..r_h terms and conditions as the City Council may determine, payable
solely from the revenues of said water and sewage works in accordance with the provisions of the Revenue
Bond Act of the State of Idaho; and that ziid bonds shall be in the denomination of One Thousand Dollars
(1,000.00), numbered consecutively, 'peg, nning with the number one, the roads being payable in numerical
order, the lowest number first.
Section A. That a special municipal bond election be, and the same hereby is, called to be
held on Iu , dny, the 31st day of July, 190, between 'she hours of 12:00 o'clock noon and 5:00 o'clock
p.m. on said day, for the purpose of enabling the nual.i ied clue {.ors of said City to vote upon the
question of issuing said water end sewer revenue bonds; and tot, at said election: the voting places and
the officials serving thereat shall be as Collows:
PRECINCT NO. 1 Polling Place; Adams School, 110 No. 2nd East. Officials; Edna Nichols, Judge;
;Mabel Chantril., judge:; Laura Jensen, Judge; Annette Poulson, Clark; Ada Sharp, Clerk.
PRECINCT NO. 2 Polling Place; Washington School, 47 No. tat [lest. Officials; Patricia
Pederson, Judge; Jan-L McCulloch, Judge; Caddie Jenkins, Judge; Irene Louder, Clerk; ;Myrtle Bell, Clerk.
PRECINCT NO. 3 Polling Place; ';;omen's Residence Hall, 72 College Avenue. Officials; Lilly
Briggs, Judge; Mar garet Davis, Judge; Estella Shalt, Judge; Luella Chris tensen, Clerk; Jessie Atkinson,
i
Clerk.
Section 9. That the polls and the ballot boxes shall open at the hour of 12:00 o'clock noon on
said d-_y and shall remain open continuously until the hour of 3:00 o'clock p.m. of said day, nh which time
the _polls shall be closed.
Section 10. The voting at such election on the ouestion of issuing .eater and sewer revenue
bonds shall be by ballot substantially in the following form.
OFFICIAL 9Ar i JT SPA CI `:L _ UN I jL`KL BON
ELECTION 'WATER AND SEN RGV61 UM BONDS CITY OF
REXBURG, COUNTY OF i ADlSOU STATE OF IDAdO
July 31, 1962
QUESTION .SUBAITTED:
Shall the City of Rexburg, Idaho be a:uthorined to issue and sell its negotiable, coupon, water-
and sewer revenue bonds in the aggregate urincipal amount of $6330,000.00, or so much thereof as may be
necessary, in On.' or more series, bearing intere at a rate not to exceed six per cent (6N) per annum,
maturing serially, commencing not later than two and ending not later than twenty -one ;years from the date
of sold bonds, Beier subject to prior redem_:tion ten -,ears from date or on any interest payment date
thereafter, upon such terms and conditions as the City Council may determine, and payable solely from the
revenues of the water and sewage works in accordance with the 'Revenue Bond Act of Idaho, for the purpose
of constructing a sewage stabilization pond and interceptor lines, and improving, bettering and extending
the municipal ;ewer collection system in accordance with the provisions of Ordinance No. 430, signed and
approved the 6th day of June, 1962?
IN FAVOR of issuing revenue bonds to the amoant of $6330,000.00 for the purpose provided by
ordinance No. 430.
AGAINST issuing revenue bonds to the amount $330,000.00 for the purpose provided by Ordinance
No. 43
Instructions to Voters: The voter must make a cross (x) in the appropriate space opposite the
words which express his choice in the above question.
Section 11. Said ballots shall be furnished by the City Clerk to the judges of election to be I
by them furnished to the voters. At said election only those persons who are qualified to vote, as
aforesaid, shall he permitted to vote in said question. An elector shall vote at the polling place for
the precinct in which he resides.
Section 12. That notice of such special bond election shall be given prior to said election
in the Rexburn Journal, a newspaper publishing notice of elation in the Rexburg- Journal, a ne
pub weekly in Rexburg, Idaho, and of general circulation in the City of Rexburg, Idaho, once a
week for two successive w prior to the election, and by posting such notice for not less than
twenty days in at least three (3) public places in each Voting Precinct in said City, which notice shall
be in substantially the .following form:
(Form of Notice)
NOTICE OF SPr CIAL `r UHICIPAL BOND ELECTION
Jul.; 31, 1962
PUBLIC NOTICE IS HEREBY GIVEN that a special municipal bond election will he held in the
City of Rexburg, Madison County, Idaho, on Tuesdny the 31st day of July 1962 for the purpose of voting on
the follooing nuestion:
"Shall the City of Rexburg, Idaho, be authorized to issue and sell its negotiable, coupon,
water Nnd „ewer revenue bonds in the n1cregate principal amount of $330,000.00, or so much thereof as may
he necessary, in one or more series, bearing interest at a rate not to emceed six per cent (6%) per annum,
maturing serially, commencing; not Later than two and ending not inter than twenty one years from the
date or said bonds, Lasing subject, to :.rior redemption ten ,rears from date or on any interest payment date
thereafteg, upon such terms and conditions as the City Council may determine, and payabl solely from the
revenues of the wn L r cn d smgnee works to nnnnYdnnrp wi ll -tha Revennn. Pond Art. of TWhn ro" tW nil rnnca