HomeMy WebLinkAboutORDINANCE NO. 437 BONDSOrdina� doe Boor b, of Rexburg, Rexburg, Idaho
ORDINANCE NO. 437
AN ORDINANCE CONCERNING THE CITY OF RE BURG, IDAHO, JOINT WATER AND SEWER
REVEHYE BCNDS, SERIES JANUARY 1, 1963, IN THE AGGREGATE PRINCIFAL A40UNT
OF �p330,000. ACCEPTING THE LgfiEST AND BEST BID FOR TIE PURCHASES OF' SAID
BOiVDS: AND A'a!ARDING SAID BONDS TO BLYTH & CO., INC., PORTLAND, OREGON, AND
ASSOCIATES: CONCERNING OTHER MATTERS RELATNG THERETO: A11D PRESCRIBING
OTHER DETAILS IN CCNiNECTION THERE +`fiITH.
^1HFRAS, the City Council of the City of Rexburg, in the County of M adison and State of Idaho, pursuant
to Ordinance No. 432 and a resolution of the City CoLLncil, both duly adopted and 2nd day of January,
1963 and pursuant to Ordinances Nos. 433 and 431, and a resolution of the City Council, all duly adopted
the 6th day of March, 1963, did receive on the 8th day of May, 1963, and publicly open proposals for the
purchase of the City of Rexburg, Idaho, Joint Water and Sewer Revenue Bonds, Series January 1, 1963, in
the aggregate principal amount of p330,000.00, and did determine, and does hereby determine, that the
purchase proposal submitted by Blyth & Co., Inc., of Portland, Oregon, and assocai,tes, is the lowest
and best bid and should be accepted; and
WHEREAS the City Council has previously authorized said 'ponds by said Ordinances Nos. 432,433,and 434.
NOW, THEREFOR, BE IT ORDAINED BY THE M'YOR AND CITY COUNCIL OF THE CITY OF RIYBURG, IDAHO:
SECTION 1. That all action heretofore taken, not inconsistent with the provisions of this ordinance by
the City Council and the officers of the City of Rexburg directed toward the authorization and sale of
its Joint Water and Sewer Revenue Bonds, Series January 1, 1963, be, and the same hereby is, ratified,
approved and confirmed.
Section 2. That the Droposal submitted by Blyth & Co. Inc., of Portland, Oregon, and associates, for the
purchase of the City of Rexburg, Idaho, Joint 'dater and Sewer Revenue Bonds, Series January 1, 1963, in
the a principal amount of `$330,000.00 for the principal, accrued interest, and a premium of 1675.90,
and bearing interest as hereinafter provided, be, and the same hereby is, accepted.
Section. 3. That in accordance with the proposal as accepted, said bonds shall bear interest from date
to maturity, evidenced by one set of coupons and attached to said bonds, and shall mature serially in
regular numerical order on the first day of January, as follows:
Bond Numbers Interst Rate Amounts Years
A11 Inclusive Per .Annum Maturing Maturing
1 -
5
3 -
1/2%
$p 5,000.00
1964
6 -
12
3 -
1/2%
7,000.00
1965
13 -
20
3 -
1/2%
8,000.00
1966
21 -
29
3 -
1/2%
9,000.00
1967
30 -
39
3 -
1/2%
10,000.00
1963
40 -
50
3 -
1/2%
11,000.00
1969
_
1 t
12,000.00
1970
63 -
76
3 -
1/2j5
14,000.00
1971
77 -'91
3 -
1/2%
15,000.00
1972
107
3 -
1/2%
16,000.00
1973
108 -
124
3 -
1/2%
17,000.00
1974
125 -
142
3 -
11
18,000.00
1975
143
- 161
3 -
1/2%
19,000.00
1976
162
- 181
3 -
1/2%
20,000.00
1977
182
- 202
3 -
1/2%
21,000.00
1 97 8
203
- 225
3 -
1/2%
23,000.00
1979
226
- 250
3 -
2/2%
25,000.00
1980
251
- 275
3 -
1/2%
25,000.00
-9
276-
302
3 -
1/2%
27,000.00
1952
303
- 330
3 -
1/2%
25,000.00
1 ��
1983
Section 4.
That the form
of the
bonds shall be consistent with
the provisions of this ordinance.
Section 5. That all ordinances or parts thereof in conflict with this ordinance are hereby repealed.
This repealer shall not be construed to revive any ordinance or part of any ordinance heretofore re-
pealed.
Section 6. That if any section, paragraph, clause or provision on this ordinance be held to be invalid
orunenforcea.ble, for any reason, the invalidity or unenforceability of such section, paragraph, clause
or provision, shall in no manner affect any remaining provisions ofthis ordinance.
Section 7. That by reason of the fact that the City of Rexburg needs the sewer facilities to be acquired
with the proceeds of said bonds, it is hereby declared that an emergency exists, that this ordinance is
necessary. to the immediate preservation of the public peace, health and safety, and that it shall be in
full force and effect from and after its passage, approval and publication, as provided by law.
PA "SED by th City Council of the City of Rexburg, Idaho, this 5th day of June, 1963.
APPROVED by the Mayor of the City of Rexburg, Idaho, this 5th day of June, 1963.
APPROVED
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