HomeMy WebLinkAboutORDINANCE NO. 420 PUBLIC PARK IMPROVEMENT BONDS - SIGNED
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CITY GOVERNHENT SUCH SUHS AS HAY BE NECESSARY on DEEHED NECESSAHY BY THE
HAyon AND CITY COUNCIL TO DEFHAY TIlli EXPENSES AND LIABIrJITIES OF SAID CITY
Fon THE FISCAL YEAR 1960-l9Gl.
Passed by the City Council of said City and approved by the Hayor on the 20th day of'
July, 1960.
IN WITNESS WlffiREOF, I have hereunto set my hand and affixed the seal of said City of
Rexburg, Idaho this 20th day of July, 1960.
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F rru11", m R~ft
City Clerk.
(Seal)
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ORDINANCE NO. 420
AN ORDINANCE PROVIDING Fon THE ISSliANCE AND SALE OF $28,000.00 Hl.1NICIPAL
COUPON PUBLIC PARK IMPROVE}lliNT BONDS OF THE CITY OF HEXBURG, MADISON CUUNTY,
STATE OF IDAHO, PROVIDING FOR THE FORN THEREOF AND FOR PROVISIONS TO BE
HADE FOR TIm:: PAYHENT OF THE PRINCIPAL AND THE INTEllliST ON SAID BONDS.
WlillREAS, by the result of a special bond election duly and lawfully called and held in the
City of Rexburg, Hadison County, State of Idaho, on Tuesday, the 28th day of June,
1960, the City of Rexburg, Idaho, was empowered to issue and sell its municipal coupon
bonds to the amount of $28,000.00 to provide funds for the purpose of improving the
Arthur Porter, ,Tr. Puhlic Park hy completion of the swimminr- pool located therein, and
lvHEREAS, the result of said election was declared by the City Council of said City, sitting Ii
as a Board of Canvassers, on the 6th day of July, 19GO, and f
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WHEREAS, said honds so authorized are to mature serially on an annual amortization i:
plan as required by the "Hunicipal Bond Law " of the State of Idaho, the first install- il
ment of principal to he due and payable two years from the date of the bonds and the II
last in.. stallment of principal to be due and payable twelve ye. aY's from the date of the honds ,:11
bearing interest at the rate of not to exceed 3.75 per cent per annum, and !
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WHEREAS, the City Council of the City of Rexhurg deems it expedient and necessary 1
at this time to issue and sell all of said $28,000.00 bonds so authorized,
NO\v, THEREFORE, BE IT ORDAINED BY THE MAYOn AND CITY COUNCIL of' the City of
nexburg, Madison County, State of Idaho:
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Section 1 . Tl:1a:t to. provide fund~ for the purpose of' improving the Arthur Porter
Jr. ~.blic Park by completi,n of the swimming pool located therein, there shall he issued
Hunicipal Coupon Bonds of the City of' Rexhurg, Madison County, State of' Idaho, in the amount
of' $28,000.00, dated August]l, 1960, in the denomination of Five Hundred Dollars ($500.00)
each, maturing serially and!with the privilege of redeeming any amount of' said bonds' of
the longest maturity dates .t any interest paying date of this bond issue, numbered and
due and payable andrearing !nterest as follows:
BOND NOS.
1-2
3-6
7-11
12';'16
17- 21
22-26
27-31
32-36
37-41
42-46
47-51
52-56
I ' AMOUNT
$i,ooo.oO
~,OOO.OO
2,500.00
2,500.00
2,500.00
2,500.00
2,500.00
2,500.00
2,500.00
2,500.00
2,500.00
2,500.00
MATURITY
August 1, 1962
August 1, 1963
August 1, 1964
August 1, 1965
AU,gust 1, 1966
August 1, 196'7
August 1, 1968
August 1, 1969
August 1, 1970
August 1, 1971
August 1, 1972
August 1, 1973
INTEllliST HATE
3.75%
3 . 7 5j~
3.75%
3.75%
3.75'16
3 7501
. 10
3 . 7 5~~
3.75%
3 . 7 5~~
3 . 75/0 \
3.75%
3.75% '\"
,commencing
Park Improvement
bonds shall be
Said bonds shall
Interest payable semi-annua~ly on February 1 and August 1 in each year,
February 1, 1961. Said bon~s shall be known as "Munidpal Coupon Public
Bonds, Series of August 1, 1960". Both principal and interest of said
due and payable at the off'ibe of the City Treasurer of Rexburg, Idaho.
be in substantially the foUowing form, to-\vi t:
1
UNITED STATES OF AHEHICA
STATE OF IDAlIO
COUNTY OF f~DISON.
CITY OF HEXBl'RG
HrNICIPAL C01'PON
PPHLIC PAHK IHPHOVENENT BOND
Series of August 1, 1960
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No.
~?500. 00
KNm~ ALIJ HEN BY THESE PRESENTS: That the City of Hexburg, in the County of Nadim,
and State of Idaho, for value received acknO\vledges itself' to be indebted and hereby
promises to pay to the bearer hereof' the sum of
FIVE If()NDRED DOLLAHS ($500.00)
in lawful money of' the Dnited States of Al11erica, on the first day of' Aup;ust, 19_,
and with the privilege of redeeming any amount of satd bonds of the lon!!;est maturity
dates at any interest payinn; date of this bond issue, with interest thereon at the rate
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I ?f 3.75% per annum, payable semi-annually on the first day of February and the 1st day of
ii Aur,;ust in each year, commencing Februar,,\, 1, 1961, both principal and j.nterest bang
ill. payahle at the offi~e of the City Treasurer of Hexlmrg, Idaho, upon presentation and
\ surrender of the annexed coupons as they respectively become due.
i This bond ts issued by said c1 ty to provide funds for the purpose of impr ovin~ the
Arthur Porter, ,Jr. PtlhU.c Park by cOl;Jpletion of the swimming pool located therejn, and
is one of a series of honds of like date and amollnt and is issued in conformity \vi th
and ~'ll compliance with the Constitution and Laws of the State of Idaho, particularly
Chapter 2 of Title 57, Idaho -ode, and laws amendatory thereof, and all other laws
supplemental thereto.
It is hereby certifjed, recited and declar(:rl. that the 1'1:11 faith, credit and all taxahle
property wi thin the City of Hexburg, Idaho, are and shall continue to be 111ed.cr,ed for
and until the full payment of the principal and interest of this bond; that every re-
quirement of law relatin~ to the issue thereof has been duly complied with and that
this bond is within every debt and other 11mit prescribed by law and the Constitution,
and that provision has been duly made for the collection of an annual tax to pay the
ii intere st on this bond as it falls due, and al so to pay the principal thereoI' \vhen due.
I: IN TESTIHONY lIlIEHEOF, the City of' ne x hnr,~, Idaho, ha s cau sed thi s bond to he signed by
~ its Mayor, countersigned by the City Treasurer and attested by theCity Clerk, the seal
I of tffi City affixed and the coupons hereto attached to be signed w;i. th the facsimile
~ signature of the City Treasurer, which official, by the execution hereof, does adopt as
III and for his o\m proper signature hts facsirnile sL~nature appear'ing on each of said
II coupons, all as of the first day of August, 1960.
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ATTEST:
Hayor, City of Hexhurg, Hadison
County, State of Idaho.
Countersigned:
City Treasurer, City of Hexburg,
County of Madison, state of Idaho.
I City Clerk, City of Rexlmrg,
I Hadison County, State of Idaho.
I (Seal)
To each of said bonds shall he attached a coupon for each installment of interest con-
~mplated by said bond, which coupons shall be numbered consecutively, beginning with
No.1. Said coupons shall be in substantially the following form, to-wit:
(COUPON)
No.
(',
,;;>
On the first day of February, 19_, the City of Rexburg, in the County of Hadison,
State of Idaho, will pay to t he bearer hereof the sum of $
Dollars ($ ) in the lawful money of the United States of America, at the office
of the City Treasurer of nexburg, Idaho, being six month's interest then due on its
Hunicipal Coupon Public Park Improvement Bond, Series of August 1, 1960.
(FaCSimile Signature)
City Treasurer, City of Rexburg
Madison County, State of Idaho
Bond No.
There shall be endorsed on each of said bonds the following certificate of the
City Clerk, and the City Treasurer:
(Registration certificate of the City Clerk and City Treasurer)
"We, the undersigned, the duly chosen, qualified and acting City Clerk and City
Treasurer, respectively of the City of Rexburg, County of Madison, and State of Idaho,
do hereby certify that the within bond has been duly registered in permanent public
record bool\:s kept in our offices for said purpose, in full compliance wit h the Consti-
tution and Laws of the State of Idaho, particularly Chapter 2 of Title 57, Idaho Code,
and laws amendatory thereof, and all other laws supplemental thereto, showing the
number, date, amount of the bond, rate of interest thereon, date of maturity, place of
payment, md the number and denomination of the attached coupons.
"IN WITNESS WHEREOF, witness our hands and the seal of said Cit y of Rexburg,
Idaho, this first day of A~gust, 1960.
City Clerk, City of Rexburg,
Madison County, State of Idaho.
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City Treasurer, City of Rexburg,
Madison County, State of Idaho.
(Seal)
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Section 2. Said bonds shall be si~ned by the Mayor, countersigned by the City
Treasurer and attested by the City Clerk, with the corporate seal of said City affixed
to each of said bonds,and the coupons attached to said bonds shall be signed by the City
Treasurer by his facsimile signature; the said~ficial by the execution of said bonds
shall adopt as and for his own proper signature his facsimile signature appearing upon
each of said coupons.
Section 3. That to pay the interest falling due on said bonds on February 1, 1961,
and thereafter as the same becomes due, and also to provide a sinking fund for the payment
of the principal of said bonds at maturity, there shall be levied on all taxable property
in said City in addition to all other taxes a direct annual tax sufficient to pay the
intere ston said bonds and to pay and retire the same as hereinabove provided. It shall :1
be the duty of the City Council of said City to carry out the provisions hereof with II
reference to the levyin~ of taxes, and all such taxes must be levied, assessed and collecte~i
as other taxes, and the faith, credit and all taxable property 'vi thin the City are and must II
continue pledged for the punctual payment of the principal of and the interest (l1 said :1
bonds when due and until paid. Said taxes when collected shall be applied solely for I:
the purpose of the payment of said interest and principal of said bonds, respectively, 11
and for no other purpose what.soever, until the indebtedness so contracted 'under this ;'
ordinance, principal and interest, shall have been fully paid, satisfied and discharged, Ii
but nothing herein contained shall be so construed as to prevent said city from applying if
any other funds that may be in the City Treasury and available for that purpose to the i!
payment of said interest and principal as the same respectively mature, and the levy or ~
levies herein provided for may thereupon to that extent be diminished and the sums
hereby provided for to meet the interest on said bonds and to discharge the principal
thereof when due are hereby 'appropriated for that purpose.
UT.r:l.
Section 4. That the acceptance9f the offer of the Department of Public Investments
of the State of Idaho to purchase' said ~onds on a 3. 75(:~ basis with the privilege of re-
deeming any amount of bonds of the longest maturity dates at any interest paying date
of this bond issue is hereby ratified and confirmed, and that said bonds shall be delivered
to the said purchasers as soon as they may be legally issued upon receipt of the purchase
price therefor.
Section 5. This ordinance, upon its passage and approval, shall be published in
o ne issue of the Rexburg Standard-Journal, a weekly newspaper printed and published and
of general circulation in the City of Ilexburg, Idaho, and shall take effect and be in
full force immediately upon its passage, approval and m~blication, and shall be irre-
pealable until the indebtedness hereby created shall hate been fully paid, satisfied and
discharged.
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Section 6. All ordinances or parts of ordinances of the City of Rexburg, Idaho,
in conflict with this ordinance or any part hereof are hereby repealed.
PASSED AND APPROVED this 17th day of August, A.D. 1960.
~di;f ~
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ORDINANCE NO. 421
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AN ORDINA.NCE AUTHORIZING THE TRANSFER OF AN UNDIVIDED ONE HALF
INTEREST IN AND TO CERTAIN REAL PROPERTY OWNED BY THE CITY ~F
REXBURG, IDAHO, TO ~~DISON COUNTY FOR AIRPORT PURPOSES WITHQUT
CONSIDERATION ACCRUING TO THE CITY OF REXBURG, IDAHO. '.~~
BE IT ORDAINED BY TILE HAYOR AND COUNCIL OF THE CITY OF REXBURG, rbAno:
hTIIEREAS,
situated
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the City of Rexburg, is the owner of the following described real property
in Rexburg, Madison County, Idaho, to-wit:
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All thatl property lying West of the Rexburg Municipal
Golf Co~rse in the WiSE!, SW!NE! of Section 24, Township
6 North,' Range 39 East, .Boise Heridian, together with all
water rights of every kind and nature thereunto belonging
or in anywise appertaining.
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Iv'HEHEAS, said property has been used and operated by the City of Rexburg as a
municipal airport, and
HIIEREAS, the mayor and city council of said city have been petitioned by the members
of the Airport Board to convey an undivided one half interest in and to said above
described property to Hadison County, Idaho, in order that }fadison County might parti-
cipate in the maintenance and operation of said airport, and
l.JHEHEAS, it is the judgment of said council that it is for the best interests of
said city to transfer and convey an undivided one half interest in and to the above described
real property to Hadison County for tie purpose of maintaining and operating a public
airport; that such conveyance be made to said Madison County without any consideration
accruing to the City of Rexburg, Idaho;
NmV', TlmnEFOHE, BE IT RESOLVED that the City-of Rexburg transfer and convey to
~ladison County, a political subdivision of the State of Idaho, an undivided one half