HomeMy WebLinkAbout1936, Nov 6, #1 Authorize and Direct to Publication of Intention of Mayor and City HallIrIinutes of November 6th,•1936 (Continued)
The question being put, upon roll call the following vote eras had:
Councilman R. ~. Herdti .Yes
Councilman "!m. ~'!. Hanson .Yes
Councilman J. Fred Smith .Yes
Councilman D. H. Iranwaring .Yes
Councilman H. nester Petersen .Yes
Councilman I!I. U. Hopkins .Yes
whereupon the 14layor declared and announced that the Ordinance passed unanimously.
Said Ordinance was numbered 330 and the Cit,j Clerk was instructed to publish said
Ordinance in one issue of the Rexburg Standazcl, a newspaper published and printed and of
general circulation in the City of Rexburg, Idaho, and declared to be the official paper of
said City for the publishing of said Ordinances.
Councilman lI. nester Petersen then introduced the following resolution and moved its
adoption:
RES OI,IITI OTd ,
nTI~REAS, by Ordinance Tdo. 330, entitled: "A.n Ordinance providing for the issuance of
L[unicipal Coupon Refunding Bonds of the City of Rexburg, Tviadison County, State of Idaho, in
the amom~t of Thirty-seven. Thou sand:Lollars (y~37,000.00) for the purpose of refunding and
redeeming a like amount of outstanding bonds of said city, and providing for the levy and
col]ection of an annual tax sufficient to pay interest on said bonds and also to constitute.`
a sinking fund for the payment of principal thereof,"
which Ordinance was the 6th day of T?ovember, 1936, duly passed by the City Council of the
City of Rexburg, County of Madison, State of Idaho, there was authorized the issuance of
T,unieipal Coupon Rei7znding Bonds of the City of Re;,burg, Tsiadison County, Idaho, in the amouY
of Thirty-seven Thousand Dollars (yp37,000.00) in the denominations of Five hundred Dollars
(y~500.00) each, numbered from One (1) to Seventy-four (74}, both inclusive, bearing interest
at the rate of not in excess of three per centum (3jo) per annum, payable semi-annually on
the First day of Januaz`y and the First day of July in each year, due serially in numerical
order as follovs:
Bonds Tdos. 1 to 7, incl. due January 1, 1959 53,500.00
Bonds Tios. 8 to 14,incl. due Janua ry 1, 1940 3,500.00
Bonds Nos. 15 to 21,inel. due January 1, 1941 3,500.00
Bonds Tios. 22 to 29,inel. due January 1, 1942 4,000.00
Bonds i:os. 30 to 38,incl. due January 1, 1943 4,5!)0.00
Bonds Trios. 39 to 47,ine1. due Janua ry 1, 1944 4,500.00
Bonds Mos. 48 to 56,incl. due January 1, 1945 4,500.00
Bonds Idos. 57 to 65,inel. due January 1, 1946 4,500.00
Bonds Taos. 66 to 74,ine1. due January 1, 1947 4,500.00
which bonds are to be issued for the purpose of refunding Seven ^lhousand Dollars (~~7,000.00)
Iviunicipal Coupon r"taterwor-ks Refunding Bonds of the City of Rexburg i;a•dison County, :Idaho,.:
dated Iovember 1, 1923, due November 1, 1943, redeemable at the option of the Cityiof Rexbu7
at any time after I~?ovember 1, 1933, bearing interest at the rate of Five and three.-quarters
per centum (5-3~4j~) per annum;aalvflzich bonds were issued for the purpose of refunding
Thirty Thousand Dollars (x30,000'.00) S~Iunicipal Coupon Grading and Curbing Refunding Bonds.
of the City of Rexburg, =:,dison County, State of Idaho, dated T?ovember 1, 1923, due Tlovembe
1, 1943, redeemable at the option of t11e City of Rexburg at ~'-y time after November 1, 19.33;
bearing interest at the i"t?.te of Five and three-tiiaa.rters per centum (5-3~4~)-per anzsum, arid~~~~
?;THE SAS, the issue of l,;Iunicipal Coupon Grading aazd Curbing Refunding Bonds of the City;
of Rexburg, Iiadison County, Idaho, dated November 1, 1923, due November 1, 1943, redeemable
the option of the City of Rexburg, at any time after November 1, 1933, bearing interest at
the rate of five and three-quarte rs per centum (5-3~4%} per annum, in the amount of Thirty.;.;
Thousand Dollars (=530,000.00), being bonds numbered from One (1) to Thirty (30) both inclus:.
are outstandir~ and it is deemed advisable for the best interests of said City of Rexburg
that the City exercise its option to redeem said bonds on the First-,day of January', 1937, ,-
Id0'T, TJ~~_ ~~ LORE, BE IT _~SOT,VED That the City shall, and does hereby call for payment o
the First day of Janus.ry, 1937, Iv"uniciNal Coupon "Taterworks Refunding Bonds'of the Cit~.of
Rexburg, I4iadison County, State of Idaho, dated Dovember 1, 1923, due November 1, 1943,
redeemable at the option of the City of Rexburg at any time after Tovember 1, 1933, bearing
interest at the rate of five and three-quarters per centum (5-3 4~a) per annum, in the amoun~
of Seven Thousand Dollars (57,000.00), from Four (4) to Ten (10}, both inclusive, in the
denominations of One Thousand Dollars (,;;1,000.00) each, and
Be it ih rther resolved that said City shall, and does hereby call fer payment: on the
First day of January, 1937, 1'~lunicipal Coupon Grading and Curbing Refunding Bonds of the Git
of Rexburg, I'€iadison County, Idaho, dated Tdovembe r 1, 1923, due P?ovember 1, 1943, redeemable;
at the option of the City at any time after Tovember 1, 1933, bearing interest at the rate '
of five and three-quarters per centum (5-3~4jo) per annum; in the amount of Thirty Thousand
Dollars (:;30,000.00). numbered from One (1) to Thirty (30), both incl usive in the denomin
tions of One Thousand Dollars (~y1,000.00) each; that said bonds are ..called=for payment the
:First day of January, 1937, qn which date the interest on such bonds 'shall cease. Said b
shall be presented at the Rexburg State Banic, Rexburg, Idaho, on or after January l,' 1937, !
with coupons due January 1, 1937, and subsequent coupons attached . The City Treasurer is
hereby authorized and directed to give notice that such bonds have been called for payment
by publishing a notice once a week for four (4) successive ti^reeks in the Rexburg Standards a'
weekly-newspaper printed and published in Rexburg, Idaho, the first publication of such not
to be not less than thirty (30) days prior to January 1, 1937, the date fixed for '.the re-
demption of said bonds. 11^he said notice to be in substantially the following form, to-wi
NOTICE OF BOND CAhh AND REDEP.~'TION.
A?OTICE IS L~i+,REBY GIVEN by the City of Rexburg, T:;adison County, Idaho, that said City
has called, and does hereby ca~.l, for payme nt on January 1, 1937, the refunding bonds
of said City of two bond issues, both of which are dated November 1, 1925, both of
which are payable November 1, 1943, and both of which are redeemable at the option
of said City at any time after i~dovember 1, 1933, said bonds bearing interestpayable
Triinutes of TTOVember 6th, 1936 (Continued)
on Janue:ry 1st and July 1st at the rate of 5-3 j4jo per annum, payable, both principal and
interest at Guaranty Trust Company of New York, Piewr York City, New York, and the office
of the City Treasurer of the City of Rexburg, Idaho. Said bonds are of tIe denomination
of yp1000.00 each, and are otherwise numbered and described as followrs:
Bonds Idos. 4 to 10, inclusive, of the T?unicipal Coupon 7+a ter ~lorks
Refunding Bonds, dated and otherwise as described above; also
Bonds twos. 1 to 30, inclusive, of the Iriunicipal Coupon Grading
and Curbing Refunding Bonds of said City, dated and otherwise '
as described above.
The holders of said bonds and appurtenant interest caupons are hereby notified to present
`• the same for redemption at the place of payment of said bonds and interest coupons as
stated above or at the Rexburg State Bank, Rexburg, Idaho, or at the office of the
Treasurer of said City of Rexburg, Idaho, on the date fixed for such redemption as
designated above. after said date of redemption interest on said bonds shall cease
to run."
CITY OF REY'3URG, IDAHO.
By Jessie ~. Atkinson,
Its Treasurer.
The City Treasurer shall also maid, postage prepaid, at least twenty days before the
date of redemption, a copy of such notice to the Coupon Department, Guaranty Trust Company
of Idewr York, Tlew York City, New York, and also to the Bond Buyer, 67 Pearl Street, Neva York
City, Tdew York.
The adoption of the foregoing resolution was seconded by Councilman I?. V. Hopkins, and
on being put to vote, such resolution eras car?~ied by the affirmative vote of all Councilmen
present. The vote being as follows:
Councilman. R.
~ G. >-Ierdti - - - Aye
Councilman ~
Im. 'r'l. Hanson - - A,ye
Councilman J. Fre d Smith - - Aye
Gauneilman D. A. 4artwaring - Aye
Councilman H. Les ter Petersen Aye
Councilman ivi. V. Hopkins - - Aye
t1DOPTED AND APPROVED TIIIS 6th
_Attest:
City Clerk
day of Tovember, 1936
IuTayo r
TTiereupon Councilman i+?. V. Hopkins introduced the following resolution:
RESOLUTION
7HERJAS, the Mayor and City Council of the City of Rexburg, itn,dison County, State of
have, by Ordinance IIo. 330, provided for the issuance of Iiunieipal coupon ReflmB.ing
of :the City of Rexburg, T,radison County, State of Idaho, in the amount of Thirty-seven
end i)ollars 0,137,000.00) for the purpose of refunding and redeeming a like amount of thee.
ending bonds of said City; and providing for the levy and collection of an annual tax
:ient to pay interest on said bonds and also to constitute a Sinking Itznd for the payment
:,.principal thereof. All of said bonds to bear date of January 1, 1937, with interest
rn'at the rate of not in excess of three-per centum (3,v) per annum, payable semi-annually
First day of January and the Fi rst day of July in each year, and
EAS, it is the intention of the I~.a,yor and the Council of the City of Rexburg, to
'sell all of said bonds, and,
EliS, it is provided by Seetimns 55-214 to 55-218, Idaho Code Annotated, 1932, that
Council must give-notice by publication in the official city newaspaper thereof, for
three consecutive publications therein at weekly intervals, of its intention to
;negotiate such bonds and invite bidders therefor,
TFrEl?laFORE, BE IT RESOLVED By the irlayor and City Council of the City of Rexburg:
That the City Gle rk bf the City of Rexburg, be, and is hereby ar.zthorized and directed
otce'by publication in the Rexburg Standard, the ollieial newaspaper of the City of
of 'the intention of the I:rayor and the City CouY?cil of the City of Rexburg, to issue
fate t,iunicipal Coupon Refunding Bonds of the City of Rexburg in the aggregate amount
-seven .:Thousand Dollars (N37,000.00) to provide for refla.nding and redeeming alike
the valid outstanding indebtedness of the City of Rexburg, in accardanee with,. the
a of Ordinance No. 330 of the City of Rexburg, adopted and approved thee. 6th day of
1 O'7.C '.
That such notice shall be in substantially the followaing form, to-wit:
NOTICE OF I¢iUI~TICIPAL COUPORT REFUTTDIT?G BOND ISSUE
AND SALE BY THE CITY OF R3XBURG, IDAHO.
blzc notice is hereby given that the City of Rexburg, 1'+a,dison County, Idaho,
tends to issue and negotiate Taunicipal Coupon Refundin Bonds of the City of
xburg, in the amount of Thirty-seven Thousand Dollars ~yp37,000.00), for the
rpbse of refunding, purchasing and redeeming a like amou3it of the valid
astanding indebtedness of said City.
`:Said bonds vaill be issued in conformity with the provisions of Ordinance
. 330 of said Gity, adopted and approved on the 6th day of November, 1936,
d the said bonds will bear date of January 1, 1937. Said issue will consist
'` eventy-four (74) bonds in the denomination of Five I+Iundred Dollars (5p500.00)
eh, to be known as "Ivlunicipal Coupon 1efunding Bonds of the City of Rexburg,
di son County, State of Idaho", and will bear interest at the rate of not in
cess of three per centum (3~0) per annum, payable semi-annually on the First
J,of January and the Fi rst day of July in each year.