HomeMy WebLinkAboutORDINANCE NO. 924 SUMMARY BOND ELECTION ORDINANCESUMMARY OF
ORDINANCE NO. 924
AN ORDINANCE OF THE CITY OF REXBURG, MADISON COUNTY, IDAHO,
ORDERING A SPECIAL BOND ELECTION TO BE HELD ON THE QUESTION
OF THE ISSUANCE OF GENERAL OBLIGATION BONDS OF THE CITY IN
AN AMOUNT NOT TO EXCEED $4,000,000 TO PROVIDE FUNDS TO
FINANCE THE CONSTRUCTION AND FURNISHING OF AN OUTDOOR
SWIMMING FACILITY AND RELATED COSTS; ESTABLISHING THE DATE,
TIME, AND PLACE OF THE SPECIAL BOND ELECTION; APPROVING A
FORM OF BALLOT AND A FORM OF NOTICE OF ELECTION; PROVIDING
FOR PUBLICATION OF NOTICE OF ELECTION; PROVIDING FOR
REGISTRATION OF VOTERS; PROVIDING FOR RELATED MATTERS; AND
PROVIDING AN EFFECTIVE DATE
A summary of the principal provisions of Ordinance No.
924, of the City of Rexburg, Madison County, Idaho, adopted
on June 9, 2004, is as follows:
Section 1: Defines the outdoor swimming facility
Project, estimates the total cost at $4,000,000, and
provides for the issuance of general obligation bonds,
subject to approval of the qualified electors of the City,
in the amount of not to exceed $4,000,000.
Section 2: Provides for a special municipal bond
election to be held within the City on Tuesday, August 3,
2004, for the purpose of enabling the qualified and
registered electors of the City to vote upon the proposition
of issuing general obligation bonds.
Section 3: Provides that the polls for the special
bond election shall open at 8:00 o'clock A.M. on August 3,
2004, and shall remain open until 8:00 o'clock P.M., and
provides for the polling place for said special bond
election.
Section 4: Provides that the ballot proposition shall
be substantially as follows:
SHALL THE CITY OF REXBURG BE AUTHORIZED
TO INCUR AN INDEBTEDNESS AND ISSUE AND
SELL ITS GENERAL OBLIGATION BONDS TO THE
PRINCIPAL AMOUNT OF NOT TO EXCEED
$4,000,000 TO PAY THE COST OF
ACQUISITION AND CONSTRUCTION OF AN
OUTDOOR SWIMMING FACILITY, AND RELATED
COSTS, THE BONDS TO MATURE AND TO BE
PAYABLE FROM A LEVY OF TAXES OVER A TERM
WHICH MAY BE LESS THAN BUT WHICH SHALL
NOT EXCEED THIRTY (30) YEARS, ALL AS
MORE FULLY PROVIDED IN ORDINANCE NO.
924, ADOPTED ON JUNE 9, 2004?
Section 5: Provides for payment of election expenses.
Section 6: Defines qualified electors as persons who
are United States citizens, eighteen years of age or older,
who have been bona fide residents of the City for at least
30 days immediately prior to the date of election, and who
are registered as provided by law.
Section 7: Provides for registration of voters.
Section 8: Provides for preparation and publication
of sample ballots.
Page 1 - EXHIBIT "B"
Section 9: Provides for publication of Notice of
Special Bond Election.
Section 10: Provides for canvass of votes.
Section 11: Provides for Debt Disclosure Statement
pursuant to Idaho Code Section 34-440.
Section 12: Provides for the issuance of general
obligation bonds maturing over a term of not to exceed
thirty (30) years, and provides for other matters relating
to the general obligation bonds.
Section 13: Authorizes the officers of the City to
take appropriate actions to effectuate the provisions of
this Ordinance.
Section 14: Ratifies previous actions.
Section 15: Provides for publication of a summary of
the ordinance.
The full text of Ordinance No. 924 is available at City
Hall and will be provided to any citizen upon personal
request during normal office hours.
DATED this 9th day of June, 2004.
CITY OF REXBURG
Madison County, Idaho
S d Larsen, ayor
ATTEST:
�--> . Kai,,
air D. Kay, City Nlerk
Page 2 - EXHIBIT "B"
CERTIFICATION OF ATTORNEY
I, the undersigned, an attorney at law licensed in the
State of Idaho and acting as city attorney to the City of
Rexburg, Madison County, Idaho, hereby certify that I have
read the attached summary of Ordinance No. 924 of the City
of Rexburg and that the same is true and complete and
provides adequate notice to the public of the contents of
said Ordinance.
Dated as of the 9th day of June, 2004.
Stephel Zollinger,Cattorney at Law
Page 3 - EXHIBIT "B"
STANDARD JOURNAL
Rexburg, Idaho
St. Anthony, Idaho
Ashton, Idaho
AFFIDAVIT OF PUBLICATION
STATE OF IDAHO
Madison and Fremont Counties
I, Jeff Rydalch, being first duly sworn, depose and say, that
I am the business manager of the STANDARD
JOURNAL, a 5 times a week newspaper published 5 times
a week in Madison and Fremont Counties, Idaho; and I do
solemnly swear that the City of Rexburg General Bond
Election August 3, 2004, a copy of which notice appears
attached hereto, was published in the regular and entire issue
of said newspaper, and not in any supplement issue, once
each week thereof for two successive issues, the first
publication having been made on July 24, 2004 and the last
publication having been made on July 31, 2004.
Further, that said newspaper is one of general circulation in
said county; that it is a legal newspaper, conforming to legal
specifications under the Idaho Statutes; that it has at least two
hundred bona fide subscribers living within the county of
publication; and that it has been continuously and
uninterruptedly published in said county during a period of
seventy-eight consecutive weeks prior to the first publication
of the said no 'cc.
STATE OF IDAHO
COUNTY OF MADISON
On this 2nd day of August in the year of 2004 before me, a
Notary Public, personally appeared Jeff Rydalch, known or
identified to me to be the person whose name subscribed to
the within instrument, and being by me first duly sworn,
declared that the statement therein are true, and
acknowledged to me that he executed the same.
Notary PublifotXdaho
Residing at Rexburg, Idaho
My commission expires: April 29, 2005
tr'"f
NOTICE FOR CITY OF REA
Notice
General Bond Election August 3, 2004.
The City of Rexburg has established 11
precincts with 3 voting locations for the
electors to vote in the 2004 General Bond
Election for an Aquatic Park. The following list
of voting locations is provided for the elector's
information:
(1) Fifth Precinct and Seventh Precinct:
i Veteran's Hall — 480 West 2nd North.
(2) Eighth Precinct, Ninth Precinct, Tenth
at Ci
Precinct, Eleventh Precinct, Twelfth
Precinct and Thirteenth Precinct: Cotton
Th
Tree Inn Convention Center at the Chamber
resit
of Commerce (Conference Room) — 420 West
this
4th South.
Con
(3) Fourteenth Precinct, Fifteenth
Gen
Precinct, Sixteenth Precinct and Twentieth
Precinct for Absentee Ballots: Rexburg City
Hall — 12 North Center.
(NOTE: Absentee Ballots can be obtained
SAWLE. • Special Genera( Obligation Bond Election
INSTRUCTIONS TO VOTERS, In
it
order to vote IN FAVOR of the
proposed bond issue, please fill in the
oval to the left of the words'IN FAVOR
issuing bonds to the of not
OF amount
to exceed $4,000,000forthe purposes
stated in Ordinance No. 924." In order
to vote AGAINST the proposed bond
issue, please fill in the oval to the left of
the words "AGAINST issuing bonds to
the amount of not to exceed
n
$4,000,000 for the purposes stated in
Ordinance No. 924' If by mistake
you,
I or accident, mark, deface, mutilate. or
21 ■'otherwise
spoil this ballot. please
return i1 to an election officla! and
obtain another ballot.
SHALL THE CITY OF REXBURG
BE AUTHORIZED TO INCUR AN
®
INDEBTEDNESS AND ISSUE
AND SELL ITS GENERAL
OBLIGATION BONDS TO THE
®
PRINCIPAL AMOUNT OF NOT
TO EXCEED $4,000,000 TO PAY
THE COST OF ACQUISITION
AND CONSTRUCTION OF AN
OUTDOOR SWIMMING
FACILITY, AND RELATED
COSTS, THE BONDS TO
MATURE AND TO BE PAYABLE
r
FROM A LEVY OF TAXES OVER
I
.
A TERM WHICH MAY BE LESS
THAN BUT WHICH SHALL NOT
EXCEED HIRTY O) YEA
® 40
ALL AS MOREFULLY
PROVIDED IN ORDINANCE NO.
924, ADOPTED ON JUNE 9,
2004?
. 42 .
..�.
C� IN FAVOR OF
issuing bonds to the amour!
-
of not to exceed S4,DOO,000
for the purposes stated in
Ordinance No. 924
AGAINST
swing oonds to the amount
.
of not to exceed $4,000.000
•. tIn; ;.,^ •ees stated in
Ordinance hb. 924.
I
The following Information is
required by Section 34-440, Idaho
. st , Code:
-
I The City has outstanding revenue
bond indebtedness in the amount of
.
$2,190,657 The City has no
The interest
general obligation debt.
rate antcipated on the proposec
®
bonds Is 5% per annum. The range
of anticipated rates is from four
percent (4.0%) to eight percent
(8.0%) per annum. The Iota.
i amount to be repaid over the life o
the proposed bonds, principal anc
interest, based on the anticipatec
Interest rate. is estimated to be
$7,806,172.
9LL�l
— 16 I a - I TYp:01 seq:0001 sp1:01 l c I {
m coaonor,2
Pub]. July 24 and 31, 2004.
Community
KFXBURG