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Home My WebLink AboutORDINANCE NO. 242 LID 11 - Signed ~ - - - -, - - -.; ~. a' - - - - -- - l::) 7 - ,- - -.- -- - 0 7 - - -- - - - " ./ ) '.", GIO.D.B"RNARD 5To\. co., ST..,OUIt ~ ORDINANCE NO. 242 I] II AN ORDINANCE AMENDING ORDINANCE NO. 236 RELATING 10 APPROVING OF ASS~SS~ \M1lN T ROLL OF IJlPROVEJ.1EN T DI S lR Ie T NO. 11 OF CI l'Y OF REXBURG. IDAIKl. AND PROVIll- 11iING FOR "PAYMEIIT OF COSTS OF IMPROVEMENTS IN SKID DISlRICT BY ISSUAlICE OF IJlPROV- IEMENT BONDS ON SAID DIS'lR1,(~T. 1\ WHEREAS, there were ~rta.in clericloj,l errors ma.de in the printing of I I )\ Ordina.noe No. 236 of Rexburg, Idaho, I WHEREAS the time of the dates of said bonde and the inter~st paying dates I Iwera not definitely fixed by said Ordinance No. 236. II NOW, THIDREFORE, B~ I l' ORDAINED BY THE MAYOR AND eI TY COUNCIL OF REXBURG, \ IDAHO: I I SECTION 1. That Section 3'of said Ordinanoe No. 236 be made to read as folbws: Se c. 3. That there be issued in the name of the Ci ty of Rexburgimprovement bonds lor s~id Looal Improvement District No. 11 not exceeding the aggregate prinoipal i1amount of Twenty three thousand three hundred eighty nine and 51/100 ($23,389.50) Dollars, the exa.ct a.mount thereof to be determined by computa.tion after the a.mount I~aid in by property owners to redeem from the lien of the assessment roll shall have been hereafter determined; said bonds shall bear date the tenth day of Jan- u~ry. 1920, and shall bear interest at the rate of seven per oent per annum payable eemi-annually on the first day of March and the first day of September of eaoh year, said interest to be evidenced by coupons attaohed to said bonds. Said bonds shall be numbered in regular and consecutive order commencing with number one, shall be in denominations of five hundred ($500.00) dollars each, except the last bond whioh may be in suoh suitable amount as may be required to make the total iAAue con- form to the amount hereby authorized. all of Which shall be ~ayable on or before ten years from date, subject, however, to call of the City Treasurer as provided by Chapter 152, Seo. 93 of the Com~iled Laws of the State of Idaho. Said bonde and the coupons thereto attached shall be ?ayable at the office of the City Tr6asurer of the City of Rexburg or at Kountz. Bros. Bankers in the City and State of New York, United States of Amerioa at the option of the holder. Said bonds shall be signed by the Kayor and attested by the City Clerk and countersigned by the City 1Teasurer of the City of Rexburg. Idaho. and shall have affixed thereto the corporate seal or said City. All coupons shall be~r the engr~ved fac simile signature of the Mayor, City Clerk and City Treasurer of said City and when 80 executed shall oonstitute the bi~ing obligations of said district for said interest. SECTION II. That Section 4 of said Ordinance No. 236 be amend- .'f:" .~ , ;~ 'i ~ \ i\ l;- . .. :' edllfld made to read as fo 1 lowl!I: . .", That said bonds and the oou~on8 thereto attached, with the excention of Se e .' 4. t~odd bond and its ooupons 1i~ the fOllowing form: ,~ ~. as a.uthorized by this ordinanoe shall be in substa.nt- NO. - ~. City of Rexburg. Kadi... County, Idaho. . . ~f' taterest .even per cent per annum. _:t~. ,rP~yable semi -a.nnually . .;\. Loca.l Improvement Di .tric"".. 11. ..,' -11,. \ ,,~. ',0'" Improvement Bond. ~ --~ - - -~ . - - -.- -~ - c:> 7 - ._...-........~.. 0' &~,""",,&.A'-' == - -:.-----.---- .500.00 Btinci:pal and In tereat payable at the office of the Ci ty 1'reasurer, Rexburg. Idaho, or at Kountze Bros. Bankers in the City and State of New York , " Ii II Ii 11 II 'I I, r ,I Ii Ii I' 'I " II I 'I I, hereby promi se8 to pay to the bearer the sum of Five Hundrjd (.500.) Do lIars in gold co in Ii I: ji ,I Ii I, Ii I Ii Ii Ii :1 I. I I I Ii I Dated January 10th, 1920. Due January lOth, 1930. United States of Amercia, State of Idaho, City of Rexburg. NO. The City of Rexburg, County of Madison, State of Idaho, for value received, of the Uni ted States of America or the equiV'alent thereof, in lawful money, on the pre- aentation and surrender of this obligation on or before the Tenth day of January, 1930, provided, however, that whenever there shall be sufficient money in the Local Imnrovement fund District No. 11 of said City over and above the amount sufficient for the payment of interest on all unpaid bonds to pay the principal of one or more bonds, the City Treasurer shall call in and pay such bonds in their numeric~l orders by law pr~vided, with interest thereon from the date hereof until paid, at the rate of seven per cent per annum, payable semi-annually in like medium on the first day of March and the First day of September in each year on the presentation and surrender of the proper coupons hereto attached, both nrincipal and interest payable at the office of the City l'reasurer of Rexburg or at Kountze Bros. Bankers in the City and State of New York at the option of the holder. If payment of this bond shall be made as hereinbefore prOVided ~rior to the r.nth day of January, 1930, all interest coupons showing the date of maturity, subsequent to such dates of redemption, shall remain attached to said bonds and be sur- rendered therewith. This bond is one of a series issued for the costs and expenses for 10cal street improvements in said Local Improve.ent District No. 11 as authorized by Chapter 152, Seo- tion 6, of the Compiled Laws of the State of Idaho and all other laws thereto enabling and in conformity with Chapter 152 Seotion 98 r'citing that "The holder of any bonds issued under the authority ~f this article shall have no claim therefor againet the mun- icipality by which the same is iesued. and in any event, except for the collection of the special assessment made for the improver~nt for which said bond is issued. but his remedy in case of non-payment, shall be oonfined to the enforcement of such assessmente." 'j'he foregoing recital rela.tive to the remedy of the holder of this bond 1s written, printed or engraved on the face of each bond in conformity to the mandate of said statute. The principal sum herein named and the interest thereon shall be nayable out ot ~n. local Impro vement fund created for the payment of the costs and expenses of such improvement, not otherwise, 'This obligation is not to be deemed or taken to be within, " ~ any part of the limitation imposed by law as to the indebtedness of said City. And it is further c.rt~fied and recited that all requirements of law have been fully com- plied with by the proper officers in the issuance of this bond and that the total amount of this bond does not exceed any limit prescribed by law. For collection of the assessments levied in said Local Improvement District No. 11 the City of Rexburg, Madison County, State of Idaho, hereby pledges the exerclse of lawful corporate powere. ----1------ I I I ) ) G .. I ~ I / - - ~ <:::) 7 - . - - -.-- -.... 0' ... ~ ~.. .& "-' GEO.D.'''R,NAItD STA, co.~ IT,\.OUII -, ~. -' :..-.; ., II !I II I :1 Ii " Ii " II I, Ii ii 'I II II I I I ,i I, II II II il I I I , II 'I I ,I II \ I I I , I I IN 'TmSTI.MONY WHERillOF, THE Kayor and Council of the Ci ty of Rexburg ha~ caused this bond to be signed and attested by the Clerk thereof under the Beal of the City and countersigned by the City Treasurer as of the Tenth day of Jan- uary, 1920. I 'Kayor . Attftst:: CIty Cler~. Coun te rs igned Ci ty Trea.surer. (Form of Coupon) Ho. day 0 f On the A. D., the City of Rexburg, in the County of Madison, State of Idaho, will pay to bearer seventeen and ,0/100 dollars in lawful money of the United States of America, out of the fund. collected by special assessment in Local Improvement District No. 11, at the office of the City Treas- urer of the City of Rexburg, in the County of Madison, State of Idaho, or at the Kountze 'Bros. Bad:ors in the City and State of New York, at the option of the holder, being six months interest on Local Improvement District No. 11 Imnrovem8nt . "'11 .,1 'i~ Bond numbered dated January 10th, 1920. Fae-eimile signature Mayo r . AtteRt: Fac-simile signature City Clerk. Fac-simile signature -.caty Tre&.\.8urer. smC.III. That Section 7 of said Ordinance No. 236 be amended and n&de to read So, follows: Seo. 7 That said assessment., together with interest thereon at the rate of seven per cent per annum from the tenth day of Janua.ry being the date of the diet- rict bGtnds a.uthorized by this ordinance until the ma.tt'.l~ity of the said bonds, sub- ject to redemption a. hereinafter provided, are hereby declared to be a lien in the several amounts assessed agains't each lot or tra.ct of land hereinbefore des- t1f'ibed from and after the final publi ca.tion of thi. s ordinance, and ahal l ha.ve p1' i- ority over all other liens except general taxes. . SEC. IV. that all Ordinanoe. and parte of Ordinances in conflict htU'~\{i th are4tereby repealed. , 1 f .~ -/ -w 'L..J / 'L..J I WHEREAS an emergency exists this ordinan~e shall take effect from and after its passage, approval and publication a8 required by law. PASSED THIS 17th day.of Ma.rch, 1920. APPROVED THIS 17th day of Karch, 1920. SEA L ATTEST: -~ !tr~~ 'tL2 I . r .~ ' ; ~'" " 'Y J "" . ..::. 'I, s '.;... .r I ", /A, ~/3~ Q- Mayor 0 e b'fls. l ,~ , ~ ~'\ \ '....... i j 1 1 ; , j I ~