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HomeMy WebLinkAboutORDINANCE NO. 265 SEWER - SIGNED - -- - - - -- - - - - - - - - -, - - -., - ...--...-- ........0' & '~",,"'''-'~.b' ."""''''''''''.11.'-'' QI.O D BARNARD Sf" CO,,'T LOU.. r-- I: Ir i; I I I I i i I I I I II II II II II I, I' 'I II 'I Ii Ii I I I ORDINANCE NO. 265. AN ORDINANCE AMENDING ORDINANCE NO. 262 OF THE CITY OF REXBURG, MADISON COUNTY, STATE OF IDAHO, TO PROVIDE FOR THE ISSUANCE, EXECUTION AND DELIVERY OF SPECIAL ASSESSMENT SEWERAGE IMPROVEMENT BONDS OF LATERAL SEWERAGE IMPROVEMEIT DISTRICT NO . 2, OF SAID CITY, OF ONE HUNDRED FIVE IN NUMBER, AND DEiOKINATIONS OF $500.00 EACH: REPEALING ALL ORDINANCES OR PARTS OF ORDINANCES IN CO~FLIOT BERE- .v .' WITH, AND DECLARING AN EMERGENOY. '. :r WHEREAS, Heretofore, on the first day of December, 1920, Ordinanoe Bo. o ,. 262 of the City of Rexburg was passed, authorizing and providing fo: tl;le assessment, I ji.~', " exeoution and delivery of oertain special sewerage improvement bonds ,~o the Hanchett Bond Company, and WHEREAS, Said bonds, as provided in said Ordinance, were to be of the denominations of ~lOOO.OO each, and. WHEREAS, The said Hanchett Bond Company now desires thiil.t said bonds be , . issued in denominations of 1500.00 eahc, and \ WHEREAS, The improvements heretofore authorized to be made in Lateral se..erage Improvement Distriot No.2, have been completed and the said District is ;",.~. oiH.iged to pay for said improvements, according to the oontracted prioe, and T' "iHEREAS, The s...id City desires to sell suoh bonds to apply the prooeeds for the payment of the oost of oonstructing said improvements; ~:., BOW THEREFORE, ~~T' O~D.1il~E:D BY THE MAYOR AND CITY COUNCIL OF THE CITY OF REX:BURG ,MADISON COUNTY~STATB' OF IDAHO. Section I. That ~ction 2 of said Ordinance No 262 be amended and made '~ ,~ to read as follows, to-wit: Section II. That for the purpose of providing fUnds for the payment of the C08 ts and expenses of said impro vemen t 8, in and f or said La te ral Sewerage Im- directed to be issued, sold and delivered in the n~e of the said City, to Hanohett i j~ 1 1 provement District No.2, there shall be and there are hereby a.uthorl zed, or dared and Bond Oomp&ny of Ohioago, Illinois, negotiable ooupon bonds in the aggregate prin- cipal sum of t52.454.89, whioh bonds shall be known as and designated "Special AssesSment ~8werage Improvement Bonds, District No.2," shall be one hundred five ! in number, ~umbered consecutively from 1 to 105, both inclusive, bonds numbered 1 tci Ib"~iJlol~.lvet ,of the denominations of "500.00 each; and bond numbered 105 of the denom1ilation~ 1454.89; shall bear date of December 1, A. D. 1920, shall be absolutelldue and payable December 1. .A. D. 19ZO, but shall be redeemable on any interest payment date prior thereto, as provided by law and in this Ordinance. Said ~' .,;.- '.': ....; ',..... ~~ ~ ': l ..~ a' ,i" f bonds sha.ll bear interest from thoir date until 1*id at th, rate of seven par centum (1 ;,~r cent) per annum, ~,.ble Bemi-annually on the first days ot February and ; , A~~\, respectively, in eaoh year, whioh in8tallmeDta ot i~ere8t to date of ma- turity of prinoipal shall be evidenced by appropriate coupons attached to each bond; ; ,. .', j an4both prinoipal of and interest on said bonds shall be P&lable in gold coin of '...~ .., _,' ki~( ......_ :r. ~ ~ / - - - --} - - -e/ -- - - ... - .... .... - .-... ~, ..' ,..... 4. .a. "-' ~- & b, & ~ -.........a .I '-' the United States of America, out of "Lateral Sewerage Improvement District No. Z _ Bond, Interest and Sinking Fund," at the office of the City Treasurer in Rexburg, Idaho, or at the National Bank of COL~erce, in the City and ~tate of New York, U. >) S. A., >At the option of the holder. Section II. That Section 3 of said Ordinance No. 262 be amended and made to read as follows, to -wi t: Section 3. That each of said bonds and each of the interest ooupons to ) be thereto attaOhed, shall be in substantially the followtng forms, respectively, STATE OF IDAHO, COUNTY OF MADISON, Ii I ! I ,i I; .Ii I i ! to-wit: (Form of Bond) U HIT E D STATES o F AltERICA CITY OF REXBURG. Special Assessment Sewerage Improvement Bond. District Ho. 2. Bo........... 1500.00. KNOW ALL lIlD BY THESE PRE~EHT5, That the City of Rexburg, County of Madison, Idaho, aoknowledges itself to owe and for value received, hereby promises to pay to the bearer hereof, the principal sum of Pive Hundred DOllars, on or before December 1, 1930, together with interest on said sum from the date hereot until J: paid, at the rate of seven per cent~ (7 per c~t) per annum, payable semi-annually on the first dals of February and August, respectively, in each 18ar, a. evidenced by and upon the presentation and surrender of the interest Ooupon. hereto attaohed as they severally become ~e; and both the said interest on and prinoipal of this bond are hereby made payable in gold coin of the United State. ot Amerioa of, or equal to, the present s.tandard of ...1ght and tinenes. at the ottioe ot the Cit1 Treasurer in RexDurg, Idaho, or at the lational Bank of Commeroe in the City and State ot Kew York, U. 8. A. at the op~lon of the holder, out ot the looal improTe- ment fund heretofore oreated tor the pa1ment ot the ooaie and expen.e. ot the im- provement in Lateral Sewerage Improvement Diatrict Ho. 2 in said City and not otherwise. This bond i8 .i8sued by said City tor the purp08e of providing fund. to~ I -, 171 of the Idaho Compiled Statutes of 1919 and all laws of said state supplementary thereto and amendatory thereof. And it is hereby certified, reoited and warranted thAt said Citi i8 now and } for some years past has been a Cit1 of said State, and a body politio and oorporate, . duly organized, existing and operating under and by virtue of the oonstitution and laws of the State of Idaho, and is now and always haa been under the oonirol ot a duly organized mayor and city counoil and the duly oonstituted oorporated authority ~._->;.-.~,:"""'''':!:lP!"~'' c., _._,,>............. --"';.>- .;.- - - - - -/ - - -.., - . - - - - -~ - 0' . ,--.........., - '" 0' & -""'" I. '" '-' 01.0. D. BARNARD IT....CO.. IT ,LOUIS th8reof; that all things, aots and oonditions required by the oonstitution and laws I I! " I. II I: i I I , of the State of Idaho and the ordinances of said City, to exist and to happen and be done and performed, precedent to and in the creation of the said Lateral Sewerage Im- provement District No. 2 and the construction of aewers therein andctherefor, and the issuance of this bond in order to oonstitute the 8aid bond the valid and binding ob- ligation of said City, and payable aa aforesaid, do exist and have happened and been done and performed, in regular and due form and time; that the total ooata and ex- penses of said improvement have been duly levied and a8.es8ed as special assessments for sewerage improvements upon all of the lands, lots and pieoes and parcels of land in said Lateral Sewerage Improvement Distriot No.2, aeparate17 and in ~ddition to all other taxes, and said speoial asses~ments are a lien upon said lands, lots and pieoes and paroels of la.nd, and take preoedenoe of all other liens; that due provision has been made for, and said City hereby guarantees, the collection of said special assessments sufficient to pay the interest acoruing hereon promptly when a.nd as the same falls due and able to disoharge the prinoipal hereof at maturity. In conformity with Section 4151 of Chapter 171 of the oompiled l6l.ws of Idaho, 1919, it is hereby recited that t'The holder Of any bond issued under the authority of this Chapter, shall have no claim therefore against the City, town or village by whioh tho same is issued in any event exoept for the oolleotion of the speoial assessment made for the work Of improvement for whioh, said bond was isaued, but this remedy in case of non-payment, shall be oonfined to the enforoement of mob ass e s sm e n t . A oopy of this subdivision shall be plainly written, printed or en- graved upon the faoe o~ .ao. bond 80 issued." This bond is redeemable by 8aid City on any interest paJmen\ date, upon oall of the Treasurer of said City made prior thereto by publioation for thirty (30) days in the offioial newspaper following the delinquenoy of any installment of the . ,.~.' 'I ~ assessment. IN TESTIMONY WHEREOF, The City Of Rexburg, Of Kadison County, Idaho, by its City Counoil has caused this bond to be signed by the lIayor Of said City a.nd attested by the Clerk thereof, oountersigned by the City Treasurer, 8ealed with the oorporate seal of the said City and reoorded by said Clerk; and each Of the twenty (20) interest ooupons hereto attaohed to be signed by the engraved faO-8imile signatures of said Mayor, Treasu~er and Clerk, the lat day of Deoember, ~. D., 1920. (SBA.J,) JOHN L. BALLIF, JR., Mayor ATTEST, lU.Y ;0. GABBER, Couatfr81 ped& OTTO E. LILJEBQUI5T, City Treasurer. (porm of Coupon) Coupon No............ 41..... ........ On the first day of 'ebruary August, A. D., 19 The City of Rexburgj of Kad180n County, Idaho, for value reoeived promises ) / ; - .,; - - -.- -- - c=:J 7 - '-.;;> ; to pay to the bearer hereof, the sum of S.~ente.n Dollars a.d fUty oenta in gold ooin of the United States. ot Amerioa, ot, or equal to, the present standard o~ weight and fineneas, at the office of the Oity Treasurer in Rexburg, Idaho, or at the National Bank ot Oommerce in the State ot .ew York, Oity ot New York, U. S. A., at the option of the holder, being six month's !nterest then due on its Speoia1 Assessment Sewerage Impro~.ment Bond, Distriot Bo. 2, dated Deoember 1, A. D. 1920. No. ............. (Fac-simile signature) Uayor. ATTEST: (Fac-simile) Ole rk . Countersigned: (Fac-simi1er . City Treasurer. Section 3. Tbat all resolutions, ordinances or orders, or parts thereof, in conflict with the provisions hereot, be and the same are hereby repealed, rescinded and annulled. Bection 4. That this ordinance, being for the purpose Of prOViding funds for the immediate payment of the costs and expenses of improvements in said Lateral Sewerage Improvement District No.2, Shall therefore be in full force and effect, from and after its passage, approval and due publioation acoording to law. i: PASSED and APPROVED this 19th day of January,.A. D. 1921. ATTEST: ~ /J-. ~~ Clerk. "Ii- I II I: I I I I I I i i I I \ I I II II \ ) ) -) ') -\ )"