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Home My WebLink About06 24 1986 Ord. 283PROOF OF PUBLICATION STATE OF IDAHO 5S. County of Bannock Sandra K. Herald being first duly sworn on oath deposes and says: That she was at all times herein mentioned a citizen of the United States of Ameri- ca, more than 21 years of age, and the Principal Clerk of THE IDAHO ORDINANCE NO. 283 AN ORDINANCE CALLING A SPECIAL GENERAL OBLIGATION BOND ELEC- TION FOR THE PURPOSE OF SUBMITTING TO THE QUALIFIED ELECTORS OF THE CITY OF CHUBBUCK, IDAHO, THE PROPOSITION OF THE ISSUANCE OF $785,000 GENERAL OBLIGATION BONDS OF THE CITY OF CHUBBUCK, IDAHO, AND IN PROVIDING FOR THE ISSUANCE OF SUCH BONDS, AND THE LEVY OF A TAX TO PAY SUCH BONDS. WHEREAS, the purchase improvement and equipment of lands and buildings thereon for recreational facilities for the City of Chubbuck, Idaho (the "City"), said public recreational facilities to include a swimming pool complex, landscaping and related facilities (the "Project"), is considered by the Mayor and Council to be necessary and essential to the health and well-being of the inhabitants of said City; and WHEREAS, said City does not have sufficient 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 said Chapter; and WHEREAS, the County Recorder of Bannock County has verified in writing the total existing indebtedness of the City and the market value for assessment purposes and the assessed full cash valuation of the real and personal property of the City as set forth in Section 5 hereof: 1 g NOW THEREFORE, Be It Ordained by the Mayor and Council of the City of — Chubbuck, Bannock County; Idaho as follows: SECTION 1. Special General Obligation Bond Election. That a Special General Obligation Bond Election is hereby called to be held in the City of Chubbuck, Idaho, on July 29, 1986, for the purpose of submitting to the qualified electors of said City the proposition set forth in the form of ballot appearing In Section 4 hereof. SECTION 2. Hours. That the polls at said election shall open at the hour of 12:00 noon and remain open continuously until the hour of 8:00 p.m. and then close. SECTION 3. Qualified Voters. That all qualified electors of said City, eighteen (18) years of age or older, who have resided in the City for thirty (30) days, who are registered as provided by law are entitled to vote at said election. SECTION 4. Ballots. That the ballots to be used at said special General Obligation Bond Election shall be prepared by the Clerk not less than twenty-one (21) days prior to the day of said election, in accordance with Section 59-439, Idaho Code, and shall be in substantially the following form:. newspaper, printed and published at Pocatello, d having a general circulation therein. notice, a true copy of which is attached, was HO STATE JOURNAL, on the following dates, _, 19_.8.6 _, 19 OFFICIAL BALLOT SPECIAL GENERAL OBLIGATION BOND ELECTION CITY OF CHUBBUCK BANNOCK COUNTY STATE OF IDAHO July 29, 1986 QUESTION: Shall the City of Chubbuck, Idaho, issue and sell its general obligation bonds to the amount of $785,000 for the purpose of providing for the purchase, improvement and equipment of lands and buildings thereon for public recreation facilities, said public recreation facilities to include a swimming pool complex, landscaping and related facilities, such bonds to be payable from ad valorem taxes, but to be additionally payable from and secured by a pledge of revenues, in excess of actual operating expenses, derived or to be derived from rates, fees or charges imposed for the use of said public recreation facilities to be so purchased, improved, and equipped, all as more fully provided in Ordinance No. 283 adopted June 10, 1986? iN FAVOR OF ISSUING BONDS TO THE AMOUNT OF $785,000 FOR THE PURPOSE STATED IN ORDINANCE NO. 283 AGAINST THE ISSUING BONDS TO THE AMOUNT OF $785,000 FOR THE PURPOSE STATED IN ORDINANCE NO. 283 INSTRUCTIONS TO VOTERS: To vote on the preceding question, place an "X" in the square to the right to the words "IN FAVOR OF ISSUING BONDS TO THE AMOUNT OF $785,000 FOR THE PURPOSE STATED IN ORDINANCE NO. 283" or "AGAINST THE ISSUING BONDS TO THE AMOUNT OF $785,000 FOR THE PURPOSE STATED IN ORDINANCE NO. 283" according to the way you desire to vote on the question. All marks otherwise made are forbidden. All distinguishing marks are forbidden and make the ballot void. If you, by mistake or accident, mark, tear, deface, or otherwise mutilate this Ballot, return it to the Election Judges and obtain another Ballot. The following information is required by Section 34-440, Idaho Code: The total existing indebtedness, Including interest accrued as of June 10, 1986, of the City of Chubbuck is $1,109,900.03. The interest rate anticipated on the proposed general obligation bonds is eight and six -tenths percent (8.6%). The range of anticipated rates is from six and one-quarter percent (6.25%) to nine and one-half percent (9.5%). The total amount to be repaid over the life of the proposed general obligation bonds, based on the anticipated interest rate, is $1,426,978. (End Form of Official Ballot) _, 19 19- 19 19- 19 _, 19_— - 19— :en continuously and uninterruptedly published of seventy-eight weeks prior to the publication Trent and is a newspaper within the meaning ��_ h�� 42 'a before me this 27th 19 86 Notary Public, State of Idaho Residence: Pocatello, Idaho in accordance with the provisions of Section 50-1026, Idaho Code, and the Municipal Bond Law of the State of Idaho, Title 57, Chapter 2, as amended, from the proceeds of ad valorem taxes. SECTION 9. Polling Place. That the following suitable polling place and the election judge and election clerks are hereby designated: Council Chambers Chubbuck City Hall 5160 Yellowstone Chubbuck, Idaho Judge: Phyllis Armstrong Clerks: Mary Bunte Hattie Landon Janiece Johnson Beth Po nriell Edythe Hansen Bettty Jo Long The City Clerk is hereby directed to provide an "absent elector's polling place" a; required by Section 59-448, Idaho Code. SECTION 10. Canvass of Result of Election. That the Mayor and Council shall hold a special public meeting on July 31, 1986, a date within six (6) days following said election, at the hour of 7:30 p.m'., at the regular meeting place of the Mayor and Council in the Council Chambers of City Hall in said City for the purpose of Canvassing the results of the Special General Obligation Bond Election, and thereon the result shall be entered in the minutes of the Clerk and proclaimed as final. SECTION 11. Levy of Taxes and Pledge of Revenues for Payment of Bond. That said general obligation 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 Chubbuck, Idaho, beginning with the year 1986 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 interest, and also to establish and to constitute a sinking fund sufficient for the payment of the principal thereof, and it is hereby ordered that such taxes shall be levied annually at the time and in the manner as general taxes for said City are levied in each such year; provided, however, the aforementioned taxesshall never be diminished prior to payment of all bonds excepting in any year to the extent that other available funds shall have been applied to or set aside in a special fund to be irrevocably held for the payment of principal or interest or both. Pursuant to the authority of Idaho Code Section 59-1026A, the City Council hereby pledges, as an additional source of payment of such bonds, all revenues, in excess of actual operating expenses, derived or to toe derived from rates, fees and charges imposed for the use of the public recreation facilities to be purchased, improved and equipped with the Proceeds from said bonds. 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 and the revenues in excess of actual operating expenses so derived to the payment o principal and interest. f such SECTION 12: Publication and Effective Date. The rule requiring an ordinance to be read on three separate days, one of which shall be 'a reading In fully, is hereby dispensed with. This Ordinance shall be published within one (1) month after its passage in one issue of The Idaho State Journal, the official newspaper of said City, and shall take effect and be in full force immediately upon its passage, approval and publication. PASSED BY THE COUNCIL AND APPROVED BY THE MAYOR OF THE CITY OF CHUBBUCK, IDAHO, this 16th day of June, 1986. S/John O. COtant, Jr. MAYOR ATTESTS/Ron C. Conlin CITY CLERK June 24, 1986 No. 281 au; 'spuoq pies ;o aDUenss! ay4 o; 4uasse ;easay; au!;- s " — ..c * — . w: U! pap!saA anew OyM Aaplo Ao afie 10 sAeaA (80 ua94y6!0 'A;!7 a41 10 sA04Daja paAa4s!baA pa!;!Ienb a41 40 M) SPA!44-aMl uo!loala pies 4e 11 4e41 -spuoq ;0 aauenssl '8 NOUDDS (uo!4oa13 ;o aa!4oN 10 wAod PU3) >I233�3 l.113 ulluo:) -O UOWS '9861 'aunp;o Aep 419L 5141 'o4ePl 'xonggn4o 4e 0SIV(] 'Uo!4:)a13 puog uol4e6!Ig0 IeAauaE) lehadS 044;o sllnsaA ay4 5UISSeAUe9;o asod.lnd ayl' Ao; o4epl 'MDnggnq7 10 A417 a44 ul IIeH Allo 10 s+agwe4O I!OunO] a41 u! 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