HomeMy WebLinkAboutORDINANCE NO. 485 ELECTION - TYPED
ORDINANCE NO. 485
AN ORDINANCE CALLING AN ELECTION FOR THE PURPOSE OF SUBMITTING TO THE QUALIFIED
ELECTORS OF THE CITY OF REXBURG, IDAHO, WHO ARE TAXPAYERS, THE PROPOSITION OF THE
ISSUANCE OF $75,000.00WATER BONDS OF THE CITY OF REXBURG, AND PROVIDING FOR THE
ISSUANCE OF SUCH BONDS IN THE EVENT THEY ARE VOTED AT SUCH ELECTION.
WHEREAS the construction of extensions, enlargements, alterations and improvements to the municipal waterworks
plant, for said city, is considered by the City Council of Rexburg to be necessary and essential to the health and well-being of the
inhabitants of said city; and
WHEREAS said city does not have funds available to pay the cost of the foregoing and has determined it advisable
to finance such cost through the issuance of the bonds of the city pursuant to the provisions of Chapter 10 of Title 50 of the Idaho
Code, and in order to do so desires to provide for the holding of the election required by the laws of the State of Idaho; and
WHEREAS this City Council has, by Ordinance Number 484, adopted this day, called an election for March 18,
1969, to determine the issuance of $200,000.00Sewer Bonds and it is desired to hold the election on the aforementioned bonds for
water purposes at the same time and places as the election on the bonds for sewer purposes;
NOW, THEREFORE, Be it ordained by the mayor and council of the city of Rexburg, Madison County, Idaho, as
follows:
SECTION I: That a special election is hereby called to be held in the City of Rexburg on March 18, 1969, at the
same time and places as the election called by this City Council on the issuance of $200,000.00Sewer Bonds pursuant to Ordinance
Number 484, this day adopted, for the purpose of submitting to the qualified electors of said city who are real property taxpayers of
said city the following proposition:
PROPOSITIONNUMBER2
QUESTION: Shall the City of Rexburg, Idaho, issue and sell its negotiable coupon
general obligation bonds to the amount of $74,000.00,for the purpose of providing funds
with which to construct extensions, enlargements, alterations and improvements to the
municipal waterworks plant, in and for said city, as more fully provided in Ordinance
Number 485 adopted on February 5, 1969?
SECTION II: That the polls at said election shall open at the hour of 12:00 o'clock noon and remain open
continuously until the hour of 8:00 o'clock p.m. and then close. Said election shall be held at the polling places specified in the form
of election notice set out in Section 4 of said Ordinance Number 484.
SECTION III: That all persons who at the time of the election are qualified electors of the city and who are real
property taxpayers thereof, properly registered and possessing the qualifications of residents, shall be qualified to vote at said election,
and that the ballots to be used at said election shall be in substantially the form set out in Section 3 of said Ordinance Number 484
calling an election on said Sewer Bonds.
SECTION IV: That notice of said election shall be given as provided in Section 4 of said Ordinance Number 484.
SECTION V: That if a said bond election two-thirds of the qualified electors of the city who are real property
taxpayers of the city voting thereat assent to the issuance of said Water Bonds, such bonds of the city shall be issued as hereinabove
provided and shall mature over a period commencing at the expiration of two years from their date and ending six per cent (6%) per
annum, and shall be payable in accordance with the provisions of Section 50-1026, Idaho Code and the municipal Bond Law of Idaho.
are hereby appointed to act as
SECTION VI: That the persons named in Section 6 of said Ordinance Number 484
judges and clerks and constables of said election.
SECTION VII: That said bonds shall be issued if carried as aforesaid, and payment shall be made through the levy
of taxes on all taxable property in the City of Rexburg, beginning with the year 1969 and continuing until principal and interest shall
have been fully paid, in such amounts and at such rates as are necessary to assure the prompt payment of such principal and interest,
and it is hereby ordered that such taxes shall be levied annually at the time and in the manner the general taxes for said city are levied
in each such year, in addition to all other authorized taxes and assessments. The proper officer or officers of said city are hereby
authorized and directed to do all things requisite and necessary to carry out the provisions of this section and to apply the proceeds of
the taxes so collected to the payment of such principal and interest.
SECTION VIII: That all ordinances or parts thereof in conflict herewith are, to the extent of such conflict, hereby
repealed, and that this ordinance shall be published in one issue of the Rexburg- Journal, the official journal of said city, and shall take
effect and be in full force immediately upon its passage, approval and publication.
Adopted and approved February, 5, 1969.
Mayor A.H. Brock
(seal)
ATTEST:
City Clerk Beulah Johnson