HomeMy WebLinkAbout1977.11.02 CITY COUNCIL MINUTES (2)-~ ~'~
MINUTES OF A REGULAR MEETING
A regular meeting of the City Council of the City of
Rexburg, Madison County, State of Idaho, was called to order by
the Mayor, John C. Porter, at 7:30 o'clock P.M. on November 2,
1977, at the City Hall at Rexburg, Idaho, there being present
the following: Mayor John C. Porter, Councilmen Nyle Boyle,
Norman Holman, Barton Jensen, I~'torgan Garner, Warren Porter
and Darlene Blackburn; also City Clerk Afton Anderson.
Barton Jensen was recognized by the Mayor and pre-
sented to the Council the following resolution:
RESOLUTION
BE IT RESOLVED by the City Council of the City of
Rexburg, Madison County, State of Idaho, a municipal corporation
organized and existing under and by virtue of the laws of the
State of Idaho, and a taxing district within the meaning of
Section 63-3101, Idaho Code, in regular .meeting assembled:
1. That the City of Rexburg borrow money in
the sum of $225,000.00 and issue as evidence of such debt,
a tax anticipation note, bearing interest at the rate of
five (5) per cent per annum from the date thereof until paid,
which said note shall mature February 1, 1978; that said
sum be borrowed from, and said note be issued to the First
Security Bank of Idaho, a National Banking Corporation, Rexburg,
Idaho, with its. office and place of business in Rexburg,
Idaho; such money to be used for general expenses of the
City in anticipation of the taxes levied for the fiscal year
October 1, 1977, to September 30, 1978, for general purposes.
2. That the tax levy for the said fiscal year
has been completed; that the amount of taxes levied for general
',purposes exclusive of taxes levied for outstanding bonded
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indebtedness and special purposes during said fiscal year
pis 3.1476 mills on the dollar of assessed valuation, which
assessed valuation for the year 1977 was $9,820,127.00, making
!,the total amount of taxes levied for said fiscal year, exclusive
'of those levied for outstanding bonded indebtedness and special
purposes, the sum of $309,098.30, of which sum none has been
collected; that this proposed tax anticipation note does not
exceed 75 per cent of the taxes levied by said taxing district
in the year 1977-1978, and the proceeds therefrom have not
yet been paid to the City of Rexburg by I~iadison County.
3. That such tax anticipation note shall be a
negotiable instrument, and shall pledge the full faith, credit
and resources of the City for the payment of the same, and
shall be substantially in the following form:
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,~/~ UNITED STATES OF AMERICA
~C~ ? STATE OF IDAHO
~Y ~Y
COUNTY OF MADISON
$225,000.00
TAX ANTICIPATION NEGOTIABLE NOTE
''Rexburg, Madison County, Idaho
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December 1, 1977
For value received, the City of Rexburg, Madison
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County, State of Idaho, promises to pay to the First Security Bank
of Idaho, N.A., a National Banking Corporation, with its office
and place of business at Rexburg, Idaho, or its order, on the
1st day of February, 1978, the sum of Two Hundred Twenty-five
''Thousand ($225,000.00) Dollars, lawful money of the United States
I'of America, with interest from the date of this note at the rate
of five (5) per centum per annum until paid.
This note is issued in pursuance ofa Resolution duly
adopted by the City of Rexburg, Madison County, State of Idaho,
on the 2nd day of November, 1977.
It is hereby certified and recited that each and every
i'act, condition and thing required to be done, to have happened,
','.and to be performed precedent to and in the issuance hereof has
ibeen performed in full and strict compliance with the Constitution
'~of the State of Idaho and the provisions of Chapter 31, Title 63,
Idaho Code, and amendments thereof; that the amount of this
note is not in excess of 75 per cent of the taxes levied by said
taxing district in the fiscal year 1977-1978, and not yet
''collected, and that the tax levy for said fiscal year has been
completed but the entireproceeds therefrom have not yet been paid
to the City of Rexburg by Madison County; that the assessed
valuation and the tax levy is based on the 1977 assessed valuation
and 1977 tax levy; that the full faith, credit and resources of
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'',the said City are hereby pledged for the payment of this note,
according to its terms; that there remains to be collected all of
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the taxes levied for the fiscal year 1977-1978; that there are
'no outstanding warrants heretofore drawn upon such levy, and
',there are no other tax anticipation notes outstanding to be paid
from the uncollected portion of the taxes levied for the
11977-1978 fiscal year.
IN WITNESS WHEREOF, the said City of Rexburg has caused
this note to be signed by its Mayor and attested and the seal
of such City affixed by the Clerk this 1st day of December, 1977.
J n C .'~ -porter , ~ Mayor .
(ATTEST:
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~'~fton Anders City Clerk.
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4. That such tax anticipation note be sold at private
sale to the First Security Bank of Idaho, N.A., Rexburg, Idaho,
aforesaid, by the Mayor of the City forthwith, and that he be
hereby authorized to make such sale and to receive the proceeds
therefrom and deposit them to the credit of said City.
5. To provide for the payment of said tax anticipation
note at maturity, a special fund is hereby created to be known as
TAX ANTICIPATION BOND OR NOTE REDEMPTION FUND, and it is hereby
provided that all taxes hereafter collected or received from the
general tax levy for the fiscal year 1977-1978 shall be placed
immediately in such fund until such time as the funds accumulated
therein shall be sufficient to pay the hereinabove mentioned tax
anticipation note, together with interest thereon at maturity,
and the funds so accumulated in the said fund are hereby appro-
priated and set apart for such purpose only and shall be used for
no other purpose; providing, however, that this shall not limit
the payment of said note to the said taxes collected, but such
note shall be the direct and general obligation of the City of
Rexburg.
It was moved by Nyle Boyle and seconded by Darlene
Blackburn that such Resolution be adopted, and the proper officers
directed to proceed accordingly, and that the Resolution be
spread on the minutes. Upon call for question, the vote was
taken as: For 6, Against 0. Whereupon the Mayor declared the
Resolution duly adopted and directed that the proper papers be
executed and that the Mayor proceed to negotiate the loan, as
authorized in the Resolution and directed the Clerk to spread the
Resolution upon the minutes of the Council.
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There being no further business to come before the
Council, the meeting was declared adjourned until the next
regular meeting of the Council, subject to call by the P~ayor.
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Johxi - C .__._Porter , Pdayor .
ATTEST": ` ~ `
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Afton Ptnderson, City Clerk.
(Seal)
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A motion was made by Councilman Nile Boyle and seconded by Councilman Norman Holman
that the rules requiring ordinance of a general and permanent nature to be fully and
distinctly read on three different occasions be dispensed with and that said Ordinance
be numbered 586 and be read in full and at length and placed upon its final passage.
Thereupon the Clerk was ordered to call the roll on said motion and the roll call upon said
motion was as follows:
Those Voting Aye: Nile Boyle
Darlene Blackburn
Warren Porter
Morgan Garner
Norman Holman
Barton Jensen
Those Voting Nay: None
The Mayor thereupon declared that the motion, having been passed by not less than
three-fourths of the Council, had been duly carried, Ordinance No. 586 was then read by the
Clerk in full and at length.
IRE: ADJOURNMENT
Councilman Morgan Garner moved the meeting be adjourned. Councilman Warren Porter
seconded.
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G/., C
Afton .~`nderson, City Clerk
All` Aye
hn C--: Porter, Mayor
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MINUTES OF THE CITY COUNCIL MEETING
November 17, 1977, 7:30 P. M.
State of Idaho)
County of Madison(SS
City of Rexburg)
A meeting of the City Council for the City of Rexburg, Idaho, Madison County, was
h-1d on Thursday, the 17th of November, at the time of 7:30 P. M, at the City Hall.
Present were the following:
Mayor: John C Porter
Councilwoman: Darlene Blackburn
Councilman: Nile Boyle
Warren Porter
Norman Holman
Morgan Garner
Barton Jensen
Also Present: City Clerk, Afton Anderson
City Attorney, Mary Smith
Public Works Director, Leland Thompson
DON WYLIE REQUESTS A VARIANCE
Don Wylie requested a variance to put 3 trailers on his property immediately West of the
Utah Power & Light service area. Councilman Nile Boyle moved the variance be granted
for a period of one year. Councilman Morgan Garner seconded. All Aye. Mayor
Forter advised that they would have to get water and sewer permits according to
specifications.
RE: GRACE BAPTIST CHURCH GRANTED TRAILER VARIANCE
The Grace Baptist Church has requested a variance to leave their trailer at the
present. location at 262 No. 2nd West for another year. They hope to have their church
build within three years however, they have been warned that they must renew their
variance each year. Councilman Barton Jensen moved they be granted their variance for
one year. Councilman Nile Boyle seconded.
All Aye