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Home My WebLink About1978.11.08 CITY COUNCIL MINUTESf'; C"F'ter b00~: E'St1.n<:.tln~ t}?l`, 1,a 1.T:.tP.S'. ~.OUnCi. ~ C)1.`;CU..;F"a _.T~ `;U "t::~:tF:C7 t':tt t3'_~rln~; t. h. F. ~dlntF'r TnCntti'.? t~'F'y CC.:-1 C: l^ilrt ;) m".n ~rti,r! ('.nCthPr C;E?''r<irtr"E'Tlt '::'hE'n t~"1t~'~? nFF'C`'.P.C "'r'tY'~ hel.r, .~n~'. ~a;:zi t until. slzr~lmer to ?i.re anot~~F:r man. r ~,-.- m - ~~ s r:'rn c it ~x ~~ 16 LdOr~{1n~^ On .~'~'~E,~``.T'C'F?t t^,r0~ -?C ~~5. .~r.`~.. : 3£~t 'inC ~'~tl' ~:E?;t 1S T:C:la bf:1nF' C:OT'i'~:'. ~'ic3VOr tOrtC:r S"zl(~ t_"~~lt t~'.F'rF? ~£~ =; I1 iT'LSUrt;nC~:' ~ottlpany that 15 i+%r1.tl.nfT ~.labl_lty InSUr:'nCP. for citi.e.:>>. `~'rF=;,J Y;> nt to rv;F~et with the C,o;nciL .n ty:F' rep:t mF'etin~; ~~nd r.resent their 1~rCf?Z'Flm• J1^? i`.Orr1 fiUf-°E 'S'rPC tI',:=:t ~r:E.' C}:~'C'_~ taltti'_ .''O!'.'.C? Of t}'. r' Ot~F'r C1t1E'5 t~"'"mot "r^ nOW .. ~ ~ ~ th roc n rr~. ~.,. ~. r:-. ~ r ., J- 4'1 ~ n 1^ ~, u~i.n_ i.~' i>_.>nr^~..Ce c. any ~~ L- r. F'~ Y1G',~ :,isfie~t3 ~~~-~,~ re t:pit. t:,eir erviee. `she ~. COUT]C1I ')~?'rF'eC~ t;0 tii %VP t'r f'!:} r;O,::.;E' fC)' (.a, i)rlf':r t;rPBf'27tcltlOn. Rt:;. ..,.~~C i".a.yor ~'OrtE'r 1" ">i)rteC On G. 1ir,C. :,r0 ~.,~. i'E' ,L.:t. (''. „_,..:~ .,..F. n:..~ LIB ~77 rGtF'.':~ a~~=='.r1,.E', lro0'.:LCD. ~)E' hel:i 1 OnCYctV ivOVC'.":tiuF'r rn ~.it ~:C.^ .:`. -ftr.>r f~1,,r .r, .~.rl:~:~'; t (~ i.,,.VGS' ;r)Gil~ C., Girlt~% t~: t"~ ,~+.,xtr ~,Y, °;~F~y '-'1~'~' ~~,F~ '„'.« ~214,OOJ.Un -zv.~11 :~F' for r•orstruct,c;•n of 7tr: .=Oath.. Y~"!"` COUT1C1. L^.s':.. ~._1::~0 rEt';lnt~t`~ k)y t%^ Cxyor Of t}?F' < {,n. rf"{t ~E)(nE'SC~ty, ,0'vC"'illE`r R. .. p i.t ^.^_,Cl ~;•!".• t}":('rP `t0',:.LCD h':: c). 1 ~....":'__nF~ 'aGarC: r>TiT:P:-.:?.tlOn .:E'eti.T~" `a.n~:. ,t t:.d~ ~:'.i.• tG F?rP. wotLd be :. _-lzk)L__G nfc)rc,-..zt:~(~,Tl .'eE?tin tTlrn .%,Orri:~ '?:O~J!~f t'!?-'^.t t'' f' 1J1~Li i')P 11::, 3•."trt:?:"1 '-'E'n`' ~T'i `' CCU('~t~E',C tii~. ~'E?• U:=3r1.C:!(? :jl'~C~{'?i)rn t7lOVE?C:: ~},.'t t}"'.E` t':E'£?tn€~' '?F' <s.^.'.~~OUrT'_E'(.. %r~G-rrF:l ~'O"CtE'r ~F'CC.:ttaA('G. rl1 :t`TF'. is , ~ ohn C. Porter .,i ty ~LF>r'_~, .F~os~ ,• ;~,;1P t/ T m ~~ ~, ;I .,., ~, ,,YT H S:~P,CIa~ m°F~tln~ O tti''.E' C~'lty C'OUnCI. fGr t"F' C1ty Of i1E'iCti)Urt , ~.~l:On COU:ltd , . c. ti) }':c.iG on c:GV~:-~!be.r. c~~, ~~%?~, ~.t t ti.r?F~ of 1~}:CC ~ .i'. ~~.t th ~ lt: ai_1. 'resent w t~,<: fa:.Lowing: 1`czyOr : Counc i L~n~Gmen Count; :linen: s'ohn C. ~ ortF?r '.~arreT. a=orter Jim °~lcrri. X11.0 '.'resent: ?'~=zry :mitt:, City ,';ttorrney jiosr-, 'v,<).t~'Ley, "it;;T ~'L.er'. i,91nUtC:S Of ~Y,F%C1?.~" '^.ef't1Ts,r=' 1nCi.UC.E'C~ On FG~.1G'.^.'iT'iF?' bPpd.rAtC ';':t:^c 5• •P.,trtl°rS Of tt'?~: :'' 1.r . O:irt. 1•.~f'rE' ~)rE'S''nt rF. UE:";t1nj%' r2r'??I.S('~lOT: tt) CLOSE? vOrtCl ~?fh '.`:F'St, they are rea~< tG c Lose thF.~ rc• ~ on ~vovF-~mber ~. ,''ayor : ortE~r t-~ted that he felt it vaG~.zLd be c}; tc CL.ose thF:~ rotzd, but it :R;o~.t1d b<, o,~enet ~<) in in t:?^~~ :~~rin~,. a:Le s /<, the City gets the deed on the other property. Morgan Garner stated that Walters Concrete needs a route to go to and from their business unless the City has the other road ready to be traveled. The fair board is also ready to negotiate on stalls. They want to use the old dump for building of barns. Jim Morris felt they should provide the deeds on the property on the curve and the other property necessary before the City gave permission to them to build the barns. The fair board will put up bariors on North 5th West for the closing of the road, they will also make permanent barns and landscape the area. City Attorney will draw up a lease with the fair board for the ground necessary for putting up the barns. The fair board will measure property necessary and give City Attorney a discription of the property. RE: LEASING TO THE FAIR GROUNDS Nile Boyle moved that the City lease to the Fair Board approximatley 2 acres for the purpose of putting in the stalls. Jim Morris Seconded. All Aye. RE: ADJOURNMENT: Nile Boyle moved that the meeting be adjourned, Darlene Blackburn seconded. ~-~ City Clerk, Rose Bagley;:-~ ~' v Mayo John C. Porter n MINUTES OF A SPECIAL MEETING A special 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 7:45 o'clock P.M. on November 8, 1978, at the City Hall at Rexburg, Idaho, there being present the following: Mayor John C. Porter, Councilmen Nile Boyle, Jim Morris, Morgan Garner, Warren Porter, and Darlene Blackburn; Absent, Barton Jensen. Also Present City Clerk, Rose Bagley. Warren Porter 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 $75,000..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, 1979; 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 to pay that certain unpaid Tax Anticipation Note issued by the City of Rexburg, Idaho, payable to the First Security Bank, National Association, Rexburg, Idaho, August 1, 1978, in the amount of $75,000.00. The proposed Tax Anticipation Note herein to be dated November 8, 1978, is issued in anticipation of the taxes levied for the current fiscal year and not yet collected by the City, 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 indebtedness and special purposes during said fiscal year is .5996 mills on the dollar of assessed valuation, which assessed valuation for the year 1978 was $18,294.465.00, 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 $109,693.00, none of said sum has been collected; that this proposed tax anticipation note does not exceed 75 per cent of the taxes not yet collected by said taxing district for the current fiscal year, and the proceeds therefrom have not yet been paid to the City of Rexburg by Madison County. 3. That such tax anticipation note shall be a negoti- able 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: -2- UNITED STATES OF AMERICA STATE OF IDAHO COUNTS OF MADISON ----------------- $75,000.00 5~ TAX ANTICIPATION NEGOTIABLE NOTE Rexburg, Madison County, Idaho November 8, 1978 For value received, the City of Rexburg, Madison County, State of Idaho, promises to pay to the FIRST SECURITY BANK OF IDAHO, IQ.A., a National Banking Corporation, with its office and place of business at Rexburg, Idaho, or its order, on the 1st day of February, 1979, the sum of Seventy-five Thousand ($75,000.00) Dollars, lawful money of the United States 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 of a Resolution duly adopted by the City of Rexburg Madison County, State of Idaho, on -che Stn day o~° November, 1978. It is hereby certified and recited that each and every act, condition and thing required to be done, to have happened, and to be performed precedent to and in the issuance hereof has been 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 for the current fiscal year and not yet col- lected, and that the tax levy for said current fiscal year has been completed but the proceeds 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 1978 assessed valuation and 1978 tax levy; that the full faith, credit and resources of the said City are hereby pledged for the payment of this note, according to its terms; that there remains to be collected approximately $109,639.00 of the taxes levied for the current fiscal year; that there are no other tax anticipation notes outstanding to be paid from the uncollected portion of the taxes levied for the current fiscal year. IN WITNESS WHEREOF, the said City of Rexburg has caused this note to be signed by the Mayor, John C. Porter, and attested and the seal of such City affixed by the Clerk this 8th day of November, 1978. • ~~ John C. r, Mayor. ATTEST:~~, ,.~, .~ i Rose Bagley, ,E y erk. (Seal)