HomeMy WebLinkAboutORDINANCE NO. 396 LID 14 - SIGNED
,/ ---."
- .---- ~-o, & '_"'Jo."-/_l~, J\"..I.~IIV
GIO.D.BARNARD ITA. CO.. ST.LOUle
l
'I
I
"
"
ORDINANCE NO. 395, CONT.
I
SECTION V. That the officers of the City be, and they hereby are, authorized and directed to
take all action necessary or appropriate to effectuate the provisions of this ordinance.
SroTION VI. That all ordinances or parts thereof in conflict with this ordinance are hereby
repealed. After the bonds of said Local Improvement District for the City of Rexburg, Idaho, have
been hereafter issued, this ordinance shall constitute a contract by the City and the holder or holders
of said bonds and shall be and remain irrepealable until said bonds and the interest accruing thereon
shall have been fully paid, satisfied and disCharged.
SroTION VII. That, by reason of the fact that certain areas within the City of Rexburg need said
local improvements, 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.
PASSED by the City Council of the City of Rexburg, Idaho, this 13th day of July, 1955.
APPROVED BY THE Mayor of the City of Rexburg, Idaho, this 13th day of July, 1955.
APPROVED:
~
ATTEST:
,J;~/~-
M .
t~~
City Clerk.
')'
m. tllv~
I, l
l!
ORDINANCE NO. 396
AN OlillIiX"ANCE CONC~RNING THE CnEATION OF, IHPHOVElfENTS IN, ASSESSlLENTS AGAINST PROPERTY B:,
AND STREET n~PROVEMENT BOlmS FOR LOCAL LIPHOV~;]i,mNT DISTRICT NO. 14 FOR CONS1:RUCTION AND
EECONSTRUCTION OF CUHBS AND GUTT.sRS AND THE CONSTRUCTION OF DPAINAGE WORKS INCIDENTAL
TO SAID IMPI{OVuc:.SNTS WITHIN SAID DISTRICT; AND ProVIDING WHEN THIS ORDINANCE SHALL BE
IN EFFECT.
~fllliHEAS, the City Council of the City of Rexburg, Idaho, has heretofore adopted proceedings
for the construction of improvements in Local Improvement District No. 14 for the construction
and reconstruction of curbs and gutters and the construction of drainage works incidental to
said improvements within said district, Ordinance of SBid City No. 394, confirming the assessment
roll for such improvements hoving been duly adopted and approved on July 13, 1955, and
~'lliEREAS, notice of assessments to property owners in said district has been duly published
in accordance with the requirements of said Ordinance No. 394 and the laws of the State of Idaho
and
WHEHEAS, the share of the cost of the construction of improvements in said district assessed
to the owners of. private property in said district is $124,163.18 and
VffiEREAS, during the 20 day period following the confirmation of said assessment roll the owners
of private property paid $46,513.71 on the principal of their assessments, and
WHEREAS, on. March 21, 1951, the City Council of said City adopted, and the Mayor of ~id City
approved, Ordinance No. 373, creating a Local Improvement Guaranty Fund, to be used to guarantee
bonds and warrants of local improvement districts in said City.
NOW, THEREFORE, BE IT ORDAINED BY THE MAYOR AND CITY COUNCIL OF THE CITY OF REXBURG, IDAHO:
.
Section 1. Thae~all of the proceedings heretofore taken and adopted for the creation of
said Local Improvement District No. 14 for the construction of drainage works incidental to said
improvements wit~in said district, and for the construction of improvements therein, and the
assessment of a part of the cost of constructing such improvements on and against the private
properties in sat.d district, including the provi.sions of said ordinanc~..No. 373, which shall
apply to the bon~s hereafter mentioned, shall be and the same are hereb"ratified, approved
and confirmed.
Section 2. That the unpaid assessments chargeable to the abutting, adjoining, contiguous
and adjacent lot$, blocks and parcels of land within said city, shall be paid for in installments,
payable as nearly as may be possible in ten equal annual payments on or before the ~ day of
August in eaqh of the years from 1956 to 1965, both inclusive and bearing interest on the
unpaid prineipalithereof from the 8th day of August, 1955, at the net rate of interest as
specified and determined by the outstanding street "ir'provement herein authorized, one year's
interest being p4yable annually on or before the 8th day of August in each of said years, both
the principal of land the interest on said assessments being payable in lawful money of the
United States of iAmerica at the office of the City Treasurer of said City, as heretofore more
specifically provided.
Section 3. That the Treasurer of the City of Rexburg be, and he is hereby authorized and
ernpowered, and it shall be his duty to receive and collect all assessments letied to pay the cost
of said improvements, the installments thereof, the interest thereon, and the penalties accrued,
including, without limiting the generality of the foregoing, the whole of the unpaid principal
which becomes due and payable immediately because of the failure to pay any installmen t, whether
of principal or interest, when due, and to pay and disburse such payments to the person or
persons laWfully entitled to receive the same, in accordance with the laws of the State of Idaho,
and all the ordinances and resolutions of said City heretofore or to be hereafter adopted. All
monies constituting the payment of principal of said unpaid installments of assessments shall be placed
",
j
.
__II
-'
/
- - -/6/
- "---~ ~-o, .. '-':"....,-.l.b, "~"""I.J'-'
ORDINANCE NO. 396, CONT.
in a separate fund to be designated "Bond Fund of Local Improvement District No. 14 for the construction
and reconstruction of curbs and gutters and the construction of drainage works incidental to said
improvements within said district, rI and shall be used as soon as they are available therefor for
the purpose of paying the principal of the street improvement bonds in regular numerical order herein-
after authorized, and for no other purpose whatsoever, and as security for such payment said fund is
hereby pledged. All manies constituting the payment of interest on said unpaid installments of
assessments shall be placed in a seperate fund to be designated ttInterest Fund of Local Improvement
District No. 14 for the construction and reconstruction of curbs and gutters and the construction of
drainage works incidental to said improvements within said district" and s hall be used as soon a s they
are available therefor for the purpose of paying the interest on said street improvement bonds, and
for no other purpose whatsoever, and as security for such payment said fund is hereby pledged. Should
there not be sufficient money in said interest fund to pay all of the interest coupons falling due
at one tir;;e, then interest couIJons shall be paid in the numerical order of the bones to which they
were attaches. Said funds shall be kept separate and apart from each other and from any other funds
of said City or otheI"l'lise, and shall from time to time, as they are accumulated, be deposited in such
bank or banks as are designated as depositories of public monies for the funds of said city under
the depository laws of the state of Idaho for the deposit of public funds. The City Treasurer be,
and he is also hereby authorized and empowered, and it shall be his duty, to receive and collect all
of the receipts of muntcipal taxes and charges levied and collected for guaranteeing the payment of
said bonds to place said monies :i:n the City's rlLocal Improvement Guarantee Fund", as heretofore
provided, to disburse therefrom said monies for the payment of the interest on and the principal of
the bonds hereinafter authorized, if necessary to redeem said bonds at maturity, both principal
and interest, and otherwise to maintain and manage said fund in the manner heretofore sPecified.
-')
-)
Section 4. That the City Treasurer shall,give public notice of the installments of assessments
becoming due, principal, interest and penalt.ies fo!' delinquencies, pursuant to section 50-2938,
Idaho Code, and all laws amendatory thereof" and supplemental thereto. The failure of the City
Treasurer to publish or mail any such notice or to do any other act or thing required by t his section
shall not affect such an assessment or"~nstallment, nor extend the time for payment thereof, but
shall subject the Treasurer to liability to the taxpayer for any damage he may sustain by reason
of such failure.
Section 5. That if the owner of any lot or parcel of land assessed for said improvements shall
be delinquent in the payment of any assessment installment of principal or interest due, it shall
be the duty of the City Council to Cause First Security Bank of Utah, National Association, etal,
the original purchasBr of the bonds herein authorized to be issued, to be immediat~ly notified of
such delinquency, in writing, and if such delinquency shall not be paid within ten days after the
date of sllch delinquency, then said Council, at its own expense, shall forthwith collect the
assessment and foreclose the special assessment lien against the property or properties wherein
the delinquency exists in the method now or hereafter provided by the Local Improvement District
Code of the State of Idaho for the collection of said assessment and the foreclosure of said lien
or otherwise as provided by law.
')
Section 6. That the assessments and the interest thereon hav~ been and shall continue to
constitute, and are hereby declared to be, a lien in the several a~ounts assessed against each lot
or tract of land hereinbefore specified from and after the 13th day of July, 1955, the date on which
the ordinance levying such assessments became effective, which lien shall be superior to the lien
of any mortgage or other encumbrance, whetber prior in time or no~~ "and shall constitute such lien
until paid, subject to the extinguishment of any such lien by the sale of any property on account
of the nonpayment of general taxes. , ,
.....
~
Section 7. That for the purpose of defrayAne a porti.}>fy of tht>'qost of said bprovement, there
be issued, in the name of the City of Rexburg," Street ImpI"ov~meIlt'~onds of said Local Improvement
District No. 14 for the construction and reconstruction of. curh$,"arid gutters and the construction
of drainage works incidental to said improvements within sa!~ dfstrict, Series September 1, 1955,
in the aggregate principal amount of $77,649.47, consisting of 110 bonds, numbered consecutively
from 1 to 170, both inclusive, which bonds shall bear date as of the 1st day of September, 1955,
shall be in denominations hereinafter set forth, provided however, that bond No. 1 shall be of" a
denomination other than a multiple of $100.00, and shall bear interest at the rates hereinafter
specified, payable annually on the 1st day of September, in eaqp year, said interest to be
evidenced by coupons attached to said bonds. If, upon presenta~ion at maturit;,~ment of any
bond is not made as herein provided, interest thereon shall continue ~'.the ~~ate until the
principal thereof is paid in full. Said bonds shall be fully negotiaS!e" amf shAlf have all the
qualities of negotiable paper, subject to the specific provisions stated herein, and the holder
or holders thereof shall possess all rights enjoyed by holders of negotiable instruments under the
provisions of the Negotiable Instrument.s Law. Said bonds shall. be numbered, shall be in the denomination
of, shall bear interest and shall mature serially in regular numeridal order in the amounts designated
on the 1st day of September in each of the years indicated as follows:
Bond Numbers
(All Inclusive)
Interest Rate Bond Amount Year
(Per Annum) Denomination Maturin~ MaturinR
4% $ 349.47 $ 349.47 9/1/56
4% 500.00 8000.00 9/1/56
4% 100.00 . 200.00 9/1/57
4% 500.00 7500.00 9/1/57
4% 100.00 200.00 9/1/58
4% 500.00 7500.00 9/1/58
4% 100 . 00 200.00 9/1/59
4% 500.00 7500.00 9/1/59
4% 100.00 200.00 9/1/60
4% 500.00 7500.00 9/1/60
4% 100.00 200.00 9/1/61
4<1 500.00 7500.00 9/1/61
,0
4% 100.00 200.00 9/1/62
4% 500.00 75GO.00 9/1/62
4rJt 100.00 200.00 9/1/63
,t"l
4% 500.00 7500.00 9/1/63
4;~ 100.00 200.00 9/1/64
4'" 500.00 7500.00 9/1/64
/0
4% 100.00 200.00 9/1/65
4'1 500.00 7500.00 .9/1/65
,0
II
--.-.-.---
-,
1
2-17
18-19
20-34
35-36
37-51
52-53
54-68
69-70
71-85
86-87
88-102
103-104
105-119
120-121
122-136
137-138
139-153
154-155
156-170
~
~-"-'---..._-.....-.--.. .----.- ;
LJ/
G110.0.8"ftHARD ITA. eo., ST.LOUII
II
I
ORDINANCE NO.396, CONT.
Said bonds and the coupons thereto attached shall be payable in lawful money of the United States of
America at the office of the City Treasurer of the City of Rexburg, Madison County, Idaho. Said bonds
shall be signed by the Mayor, attested b:' the City Clerk and countersigned by the City Treasurer of
the City of Rexburg, and each bond shall have affixed thereto the corporate seal of said City. The
coupons shall bear the facsimile signatures of the Mayor, City Clerk and City Treasurer, which
officers by the execution of said b~nds shall adopt as and for their signature the facsimiles thereon
appearing on said coupons, and vlhen said bonds are executed, said coupons shall constitute the
binding obligations of said City for said interest. Said bonds and coupons bearing the s ienatures of
the officers in office at the ti'le of the signing thereof shall be the valid and binding obligations
of Rexburg, notwithstanding that before the delivery thereof and payment therefor any or all of the
persons whose signatures appear thereon shall have ceased to fill their respective offices.
All of said bonds shall be subject to prior redemption whenever there is money in the bond fund
of said district, in addition to that necess3ry to redeem the maturity of the principal of said bonds
next accruing as hereinabmve provided, sufficient to pay the principal of one or more of said bonds,
which bonds shall be called and paid in their numerical order. Notice of prior redemption shall
be given by the Treasurer in the name of the City of Rexburg by publicatLon of such notice :1t le1'lst
once in each calendar week on ar~ day of the ~eek for at least four successive weeks, the first
publication to be at least thftty dpys prior to the rede~ption date, in a newspaper of general
circulation in the City, and a cocy of such notice shall be sent by registered mdil ~t least thirty
days prior to the redemption date to the First Security Bank of Utah, N.A., Salt Lake City, Utah.
Such notice shall specify the number or numbers of the bonds to be so redeemed (if less than all are
to be redeemed) and the date fixed for redemption, and shall further state that on such redemption
date there will become and be dlle and payable upon each bond so to be redeemed at the office of the
Treasurer of the City of Rexburg, the principal amount thereof with accrued interest to the redemption
date, and that from and after such date interest wiil cease to accrue. Notice having been eiven in
the manner hereinbefore provided, the b and or bonds so called for redemption shall becorn.e due and
payable on the redemption date so designated I' nd upon presentation thereof at said office, together
with all ,'ppurtenant coupons maturing subsequent to the redemption date, and the City of Hexburg
will pay the bond or bonds so called for redemption.
Section 8. Thet said bonds, the coupons thereto attached, and the certificate thereon, shall be in
substantially the following form:
(Form of Bond)
UNITED STATES OF AMEHICA
STATE OF IDAHO
COUNTY OF ~.~\DISON
CITY OF I-lliXBURG
No.
$
~TREET IMPROVEMENT BOND
LOCAL I1WROVID,ffiNT DISTIllCT NO.14
FOft STREETS FOR REXBURG, IDAHO
\. ~ .
;.., Ser~es
,..,1';,."
1:
CITY OF REXBURG, IN THE CaUNTY OF MADISON, STATE OF IDAHO, for value received, hereby
acknowledges itself indebted, and promises to pay to the bearer hereof the sum of
, ,? DOLLARS
on the day of " , with interest thereon at the rate of per centum
per annum, payable annually on t~; day of in each year, upon pres-
entation and surrender of this b6nd and the attached coupons as they severally become due,
both principal and interest be~gpayable in lawful money of the United States of America
at the offiee of the City Treasurer Rexburg, Idaho
.' ~;"J
~
)
This b()nd is ussued for the purpose of pay!ng a portion of the costs and expenses of
constructing certain street improvements in the streets, avenues and parts thereof, made in
Local Improvement District No. 14 for Streets for Rexburg, Idaho, pursuant to resolutions
and ordinanCes duly adopted by said City of Rexburg under and by virtue of the law known as
"Local Imprlpvement District Code", Chapter 29, Title 50, Idaho Code, and all other laws
thereunto enabling. In conformity with said Code, it is hereby provided that the principal
sum herein !llamed shall be payable from a separate fund designated "Bond Fund of Local
Improvement District No. 14 for the construction and reconstruction of curbs and gutters
and the con~truction of drainage works incidental to said improvements within said district",
pledged sol,ly for the payment, in regular numerical order, of the principal of the bonds
of the series of which this is ou.", and consisting of all monies constituting t he payment,.
of principa~ of assessments uppaid at the time of the issuance of this bond, and the interest
hereon shal~ be payable from a separate fund designated as "Interest Fund of Local Improvement
District No~ 14 for the construction and reconstruction of curbs and gutterw and the con-
struction of" drainage works incidental to scdd improvements within said district, II pledged
solely for the payment of the interest on the bonds of t he series of which this is one, and
consisting of all monies constituting the payment of interest on assessments um,..,id at
the time of the issuance of this bond, provided the principal of and the intere~t on the
bonds of the series of which this is one shall, if necessary, be redeemed at m~turity
from the Citl's"Local Improvement Guarantee Fund" heretofore duly authorized Dnd created,
and not otherwise.
'~
:.' . :,.1
'.~
..' .../'
-....-.
.-,y . ~
If at any time there shall not be sufficient money available for t he payment of interest
falling due at any time on all of said bonds from the Interest Fund of Local Improvement
District No. 14 for Streets for Rexburg, Idaho then interest coupons sh211 be paid in
the numerical order of the bonds to which they are attached. If, upon presentation at
.'1
~.
,
,- c,
/~
"
~ - -.,
- ._--~~.~, .. ,_........., -.. b, ~_~lIV
~
!\
"
,I
'1
II
ii
'I
~
ORDINANCE NO. 396, emIT.
maturity, payment of this bond is not made as herein provided, interest thereon shall continue
at the same rate until the principal hereof is paid in full.
The holder of any bond issued under the a uthority of said "Local Improvement District Code"
shall have no claim therefor against the municipality b;:,' Ylhich the same is issued, except to the
extent of the funds created and received by assessments against the property within any local
improvement district as therein provided for, and to the extent of the Local Improvement
Guarantee Fund created under the provisions of said Code; but the municipality shall be held
responsible for the lawful levy of all speci21 taxes or assessments herein provided for and for
the fdthful accounting, settlements iJnd payments of the special taxes and assessments levied for
the payment of the bonds as therein provided for. The owners and holders of such bonds shall
be entitled to a complete enforcement of all assessments made for the payment of such bonds.
-,
The asseSSJnents made and levied to pay the cost 8nd expenses of the work or improvement
authorized by the provisions of said "Local Improvement District Code, II or any law of the
state of Idaho, constitute a lien upon and against the property in said Local Improvement
District No. 14 for streets for Rexburg, Idaho Upon which such assessment or asseSSMents were
made and levied from and after the 13th day of July, 1955, the date upon which the ordin~nce levy-
ing such assessment or assessments became effective, which lien is superior to the lien of any
mortgage or other encumbrance, vlhether prior in time or not, and shall constitute ~3Uch lien
until paid, subject to the extinguishment of any such lien by the sale of any property on
account of the non-payment of general taxes.
'\
IN TESTIMONY ~mEREOF, the said City of Rexburg has caused this bond to be signed by its
Mayor, countersigned by its Treasurer and attested by its Clerk under its corporate seal, and
the annexed coupons to bear the facsuaile signatures of said officers, and this bond to be
d3ted as of the day of 1955.
Mayor if~/L4-
Countersigned:
(Seal)
ATTEST:
Treasurer
J-0 cYu -Xr~/ [2,fi
City Clerk 7r). A ~ ff 'tJ
i,
(Coupon Form)
No.
$
On the day of , unless the bond to which this coupon is attached
has been called for prior redemption, the City of Rexburg, in the County of Madison and State
of Idaho, will pay the bearer bereof
OOLLARS
in lawful money of the United States of America out of the Interest Fund of Local Improvement
District No. 14 for the construction and reconstruction of curbs and gutters and the con-
struction of drainage works incidental to said improvements within said district, for Rexburg,
Idaho, Street Improvement Bond, dated the day of , 1955, bearing
No.
~. . .~.
~~ ill!.
, / .." .. .~ . . ..
ATTEST:
~ rrutr~
City Clerk
J}).
/)- I;
h <1 ~ ~f'J;1
/ I
Treasurer
,
-'\
(Certificate Form)
CERTIFICATE OF REGISTI~TION
CITY OF HELSURG.
)
)
(S3
)
)
)
STATE OF IDAHO,
COUNTY OF J:.L\.DISON,
I, the undersigned, City Clerk of the City of Rexburg, in the County of Madison,State
of Ida~o, do certify that the within bond has been duly registered in a public record book
kept for that purpose in my office, in all respects as required by law, and that the
signatures on this bond are the genuine signatures of the Mayor, City Clerk and City
Treasurer of the City of Rexburg, Idaho, and that the signatures on the coupons are the
facsimile signatures of said officers.
City Clerk
(Seal)
..
~'''''''''''''''...-'--''-r-
~ ~....
- - - -7 - - -.,I
- .----~. 0' .. '_..<:L""", _A b, .I"-1~llV
GaO,D.8"RNARDITA.CO., ST,LOU"
ORDINANCE NO. 396, CONT.
Section 9. That said bonds, when executed, shall be issued to The First Security BAnk of Utah,
N. A:, Salt Lake City, Utall, the lawful purchaser thereof, and when so issued shall transfer to
said purchaser or to eny oVlner or owners thereof, nll the right and interest of the City of Hexburg
in and with respect to every assessment 3gainst the property in said District liable to assess~ent
for such local improvements, and the 1::en thereby created against the property of such ov:ners
assessed as shall not have availed themselves of the provisions of law in regard to the redemption
of their property from the lien of sach assessment and shall authorize the owner or owners and
the holder or holders of said bonds to receive, sue for, and collect, or have collected such
assessment embraced in any :3uch ~ond or throu""h any of the methods provided by law for the
collection of assessments for local irnpDovements; and the City of Rexburg hereby pledges to such
owner or owners and holder or holders the exercise of 011 la'Nful corporate powers in the collection
of the assessments for the redemption of said bonds.
Section lO~ That all interim warrants heretofore issued, if any, to pay for the construction
of the improvements in said Local Improvement District No. 14 for the construction Rnd reconstruction
of curbs and gutters and the construction of drainage works incidental to said i:1provGncnts within
said district, for Rexburg, Idaho, together with the interest due thereon at the date of the
isslle of said bonds, shall be redeemed And retired from the proceeds of the sale of s,id bonds.
Section 11. That any holder of anyone or more of said bonds, or any of the coupons representing
interest thereon, may, either at law or in equity, by suit, action, mandamus or other appropriate
proceeding in any court of competent jurisdiction, protect the liens created by this ordinance on
the proceeds of said assessments and any guarantee fund, G.nd m;p.y by suit, action, m,'}ndamus, or
other appropriate proceedings enforce and compel the performance of any duty irposed upon the said
city by the provisions of this ordinance, including, without limiting the generality of the foregoing,
the segregation of assessr.lents and the proper application thereof.
Section 12. That the officers of the City of Eexburg be, and they hereby are, authorized and
directed to take all action necessary or appropriate to effectuate the provisions of this ordinance,
inCluding, withoutlimiting the generality of the foregoing, the printing of said bonds and the
execution of such certificates as :;!ay reasonably be required by the purchasers thereof, relRting,
inter alia, to the signing of the bonds, the tenure and identity of municipal officials, the amounts
certified on the asseSS~lent roll together with the amount of cash payments, the accurncy of property
descriptions, the receipt of the assignable certificates and the delivery of the bonds, and the
absence of litigation pending or threatened affecting the validity of the bonds.
Section 13. That all ordinances or resolutions, or parts thereof, in conflict with the
provisions of this ordinance, are hereby repealed. This repealer shall not be construed to revive
any ordinance, nor resolution, or part theret;)f, heretofore repealed.
Section 14. That after said street improvement bonds are issued, this ordinnnce sh~ll be and
remain irrepealable until said bonds and the interest thereon shall be fully paid, certified and
dischJrged, as herein provided.
Section 15. That this ordinance may be amended or supplemented by an ordj.nance or ordinances
adopted by the City Council in ~ccordance with the laws of the State of Idaho, and withoutthe receipt
by the City of any additional consideration, with the ~Titten consent of the holders of seventy-f!ve
percentum (75%) of the bonds authorized by this ordinance and outstanding at the ti'e of the adoption
of such arnendatory or supplemental ordinance, provided, however, that no such ordinance shall have
the effect of permitting:
a. An extension of the maturity of any bond authorized by
this ordinance; or
b. A reduction in the principal amount of any bond or the
rate of interest thereon; or
~ c. The creation of a lien upon or a pledge of revenues
~~Qking prior to the lien or pledge created by this
ot'9inanc8; or
..11" ~ ~
d. '~.'~. ~ledU.ct. ~n of, the ... ipa. amoimt of bDnds required
~.!# Q,pRS~ t.o '~uoh f .. dat '3 or supplemental ordinance.
Section 16. Tha:t should any court of cornpeten~ jurisdiction hold that any part of this ordinance
is void or ineffective, such holding shall not affect the remaining facts hereof, the intention being
that each part hereof is severable.
Section 17. That, by reason of the fact that certain areas within the City of Rexburg need said
'local improvements, it is hereby declared that an emergency exists, that this ordinance is necessary
~o 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.
PASSED by the City Council of the City of Rexburg, Idaho, this 17th day of August, 1955.
APPROVED by the Mayor of the City of Rexburg, Idaho this 17th day of August, 1955.
APPROVED:
~
(Seal)
ATTEST:
p~ 1'4,'.__1/ ,
lfayor
/
E~- 771.
City Clerk
, -)' ~)
o l-/{lq>>y
l / { i
!,/ \,
j
;1
)
/
-..,
.----~.O, & .-......--..b' &_"""1."'-'
ORDINANCE NO. 396, CONT.
Councilman Max Mickelson
Councilman M. D. Morrell.
moved the adoption of said ordinance, which motion was seconded by
The Clerk was then instructed to call the roll on the passage of the ordinance and the roll call on
said passage of Ordinance No. 396 resulted as follows:
~
Those voting AYE:
D. D. ~7ilding
Max Mickelson
M. D. Morrell
A. E. Archibald
Norman Genta
Robert Erikson
Those voting NAY:
None
The ordinance was thereu;~on, by the Mayor, declared to have been duly passed, and the Clerk of the
City was directed to publish said Ordinance No. 396 in full immediately in at least one issue of the
Hexburg S.tandard, a newspaper published in the City of Rexburg, Madison County, Idaho
~
There being no further business to come before the meeting
seconded and carried, adjourned.
the meeting was, on motion duly made,
( Seal)
/ ) (~._~ .t::2::d::.' . //
" " ,~"'--:::J.-/, -~/ / -- /-I / ...:' -, - ,
Ma~~ ~ - .
ATTZST:
/:) ,'.-
I . +l\- "r' .
~('/\.iJ:.x it .. 0 I,
City Clerk
. I' ~',
,j ~"'G
I; \ ' ,/t."J ),L-
IJ G
ORDINANCE NO. 397
AN ORDINANCE CONCERNING THE CREATION OF, IMPROVEliENTS IN, ASSESSHENTS AGAINST PROPERTY
IN, AND STREET nIPROVEMENT 30rmS FOR LOCAL nfPHOV~,:r,ffi~NT DISTHICT NO. 15, FOIt CONSTRUCTION
AND RECONSTRUCTION OF CUHBS AND GUTTERS AND THE CONSTHUCTION OF DRAINAGE ~70:m<S
INCIDENTAL TO SAID IMPHOVEMENTS WITHIN SAID DISTRICT; AND PROVIDING T'lHEN THIS ORDINANCE
SHALL BE IN EFFECT.
:VHEREAS, the City Council of the City of Rexburg, Idaho, has heretofore adopted proceedings for
the construction of improvements in Local Improvement District No. 15 for the construction and
reconstruction of curbs and gutters and the construction of drainage works incidental to said
i"provements within said district, Ordinance of said City No. 395, confirming the assessment roll
for such improvements having been duly adopted and approved on July 13, 1955, and
~
VlliEREAS, notice of assessments to property owners in said District has been duly published in
accordance with the requirements of said Ordinance No. 395 and the laws of the State of Idaho, and
VffiEREAS, the share of the cost of the construction of improvements in said District assessed to
the owners of private property in said district is $12,532.66 and
if.HEREAS, during the 20 day period following the confirmation of said assessment roll the owners
of private property paid $3,495.33 on the principal of their assessments, and
\/H3P~AS, on March 21, 1951, the City Council of said City adopted, and the Mayor of said City
approved, Ordinance No. 373, creating a Local Improvement Guaranty Fund, to be used to guarantee bonds
and warrants of local improvement districts in said City,
NOW, THEREFORE, BE IT ORDAINED BY THE MAYOR Al\i'Il. COUNCIL OF TEE CITY OF REJ93~G, IDAHO:
;. .. "
, ..t.; . .... '~.,
Section 1. That all of the proceedings heretof~ire taten and ,ad.o~d for tie'reation of said
Local Improvement District IJo. 15 for the constructiOn and reconstruc~on of curbs and gutters and
the construction of drainage works incidental to,~aid improvements within said district, and for the
construction of improvements therein, and the assessment of a part of the cost of constructing such
improvements on and against the private properties in said district, including the provisions of
said Ordinance No. 373, which shall apply to the bonds hereafter mentioned, shall be and the same are
hereby ratified, approved and confirmed.
Section 2. That the unpaid assess;nents chargeable to the abutting, adjoining, contiguous and
adjacent lots, blocks and parcels of land within said city, shall be paid for in installments, payable
as nearly as may be possible in ten equal annual payments on or before the 8th day of August in each
of the years from 1956 to 1965, both inclusive, and bearing interest on the unpaid principal thereof
from the 8th day of August, 1955, at the net rate of interest as specified and determined by the
outstanding street improvement herein authorized, one year's interest being payable annually on or
before the 8th day of August in each of said years, both the principal of and the interest on said
assessments being payable in lawful money of the United States of America at the office of t he City
Treasurer of said City as heretofore more specifically provided.
Section 3. That '~he Treasurer of the City of Rexburg be, and he is hereby authorized and
empowered, and it shall-be his duty, to receive and collect all assessments levied to pay the cost of
",aid iqTovements, the installments thereof, the interest thereon, and the penalties accrLle~l, including
without lLmiting the generality of the foregoing, the whole of the unpaid principal which becomes due
and payable immediately because of the failure to pay any installrnent whether of principal or interest,
when due, and to pay and disburse such payments to the person or persons lawfully entitled to receive
the s1.une, in accordance with the laws of the state of Idaho, ami all the ordinances and resolutions of
said City heretofore or to be hereafter adopted. All mo~ies constituting the payment of principal of
said unpid installmenns of assessments shall be placed in a sepc>.rate fund to be designated "Bond Fund