HomeMy WebLinkAbout10 24 1978 Ord 193PROOF
STATE OF IDAHO
ss,-
County of Bannock
�RTISE— MENT LEGAIADVERTISEIf, T
i'2, confirming an assessment roll for said District
ie total costs of the improvements and allowable
he sum of $98,500.00, and thereafter filed notice of
aid Ordinance, description of the area of the Dis.
assessments levied against the parcels, within said
ie Bannock County Recorder; and
otice was duly given to the property owners that
�y their assessments in full at any time during the
letrlber 5, 1978 up to and including the 61h day of
but in response to such notice no payments were
le City Council has found that the costs and ex
improvements made in said Local Improvement
* provided for and paid in installments instead of
hire tax of special assessments for such costs at
aving given due notice of bond sale and having
oper bid, the City Council desires to issue in the
ity improvement bonds of the said District, )n the
$98,500.00, to bear the date of December 1, 1976,
(10) instaliments, to pay the costs and expenses
Cements not already paid by property owners of
and the City. The amount now unpaid is $90,
(FORE, BE IT ORDAINED BY THE MAYOR
OF THE CITY OFCHUBBUCK, IDAHO:
bnformafion. All prior proceedings and actions
re in connectin with the establishment of Local
)!strict No. 1 in the City of Chubbuck, Idaho, in
it limitation) the apportionment of the costs of
against parcels of land in said District, are here
5fully approved, ratified and confirmed.
staflment Payments, The costs and expenses of
anis chargeable t9 the parcels of land within said
be paid in ten (10) annual installments, as pro.
ach of the years 1979to 1988 inclusive.
nuance of Bonds. There are issued, in the name
Chubbuck, improvement bonds of said Local Im-
Irict No. 1, in The principal sum of 598,500.00,
all bear date of the 1st day of December, '1978,
rmly bear interest at the rate of '5.95 per cern
n. payable annually on the 1st day of July in
interest shall be evidenced by coupons attached
and both principal and interest on said bonds
a at the City Treasurer of the City of Chubbuck,
� Bank and Trust Co., Chubbuck, Idaho, at the
older of said bonds. Said bonds shall be signed
no countersigned and attested by the City Clerk-
z bond shall have the seal of the City affixed
a coupons attached to each bond, as evidence of
wring thereon, shall in lieu of being signed have
the facsimiie signatures of said officers. Said
numbered from one (1) upward consecutively,
amount of the aggregate of said bond issue
I July 1, T978; and $10,000.00 shall mature the
ich of not more than nine (9) succeeding years.
be subject to call and payment as provided in
50, Idaho Code. The first of said bonds shall
nination of $8,500.00 and the remaining bonds
)minations of $10,000.00 each as so determined
il.
ntents of Bonds and Coupons. Said bonds and
attached, shall, with the exception of number,
maturity date, be in the following form:
(FORMOF BOND)
UNITED STATES OF AMERICA
STATE OF IDAHO
CITY OFCHUBBUCK
Local Improvement District No. 1
December 1, 1978, Issue
$98,500.00 Aggregate
Principal Sum $8,500.00
)buck, in the County of Bannock, State of Ida.
ceived, hereby promises to pay to the bearer
u( money of the United States of America on
uly, 1979, A.D., subject, however, to call and
ded in Chapter 17, Title 50, of the Idaho Code,
on and surrender of this bond, together with
at the rate of 5.95% per annum payable an -
day of July in each year, upon the presente-
r of the proper coupons, thereto attached, both
Brest being payable at the office of the city
bbuck, Idaho, or at the Idaho Bank and Trust
ho, at the option of the holder of said bonds.
of a series of bonds of like date and tenor
formity with the constitution and the laws of
1, and the ordinances of the City of Chubbuck
f paying the costs of certain imnrnv—ante ;n
r„ it— wr
OF PUBLICATION
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being first duly sworn on oath deposes and says
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That___---_____
was at all times herein mentioned a citizen of the United States of
America, more than 21 years of age, and the Principal Cleric of THE
IDAHO STATE JOURNAL, a daily newspaper, printed and published at
Pocatello, Bannock County, Idaho, and having a general circulation
therein.
That the document or notice, a true copy of which is attached, was
published in the said IDAHO STATE JOURNAL, on the following dates,
to -wit:
,�_c6m -) 0
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That said paper has been continuously and uninterruptedly pub-
lished in said County for a period of seventy-eight weeks prior to the
ublication of said notice or advertisement and is a newspaper within
the eaning of th laws f Idaho.
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Subscribed and sworn to before me this---------------fs-'..7--____-_------
day —30
r
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Notary Public, State of Idaho
Residence: Pocatello, Idaho
.... (END OF FORM OF BOND)
(FORM OF COUPON)
No...... 5.......
On the 1sT day of July, 197..., the City of Chubbuck, Idaho, un
der the conditions of the bond to which this coupon is attached,
will. pay to the bearer S.......... In lawful money of the United
States of America, at the office of the City Treasurer in Chub
buck, Idaho, or at the Idaho Bank and Trust Co., Chubbuck,
Idaho, at the option of the holder of this coupon, being interest
then due on its Local improvement Bond of Local Improvement
District No. 1, dated on the first- day of December, 1978, and
bearing number.......
CITY OF CHUBBUCK, IDAHO
By: (Facsimile Signature) Mayor
Attest: (Facsimile Signature) City Clerk -Treasurer
(EN DOF FORM OF COUPON)
SECTION 5. Assessments. The entire cost of the improvements
made in said Local Improvement District No. 1, and the appor-
tionment of the same as set forth In the assessment roil her
einbefore mentioned, and as filed in the office of the City
Clerk, and as later confirmed by Ordinance No. 192, adopted by
the City Council on ,September 5, 1978, and as noticed and filed
in Bannock County records, is hereby assessed against the lots
and parcels of land included within said Local Improvement
District No. 1. Said entire cost of improvements hereby charged
against each of such parcels of land as shown by said assess-
ment roll may be paid in ten (10) annual installments with in-
terest upon the whole sum charged at the rate of five and nine
ty-five one hundredth per centum (5.95%) per annum. Each
year hereafter, commencing on July 1, 1979, one of such install
ments, together wish the interest due thereon, and on all install.
ments thereafter to become due, shall be collected in such
manner as shall be provided by law and the ordinances of the
City of Chubbuck, Idaho, for the collection of assessments for
such improvements in cases where no bonds are issued.
SECTION 6. Lien. Said assessments shalt bear interest at rate
of 5.95% per annum, which assessments and interest are hereby
declared to be a lien in the amount assessed against each par
cel of land herein before specified, as shown by said assess-
ment roll hereinbefore mentioned, and hereby made a part her-
eof the same as ff set forth at length herein, from and after
publication of said ordinance. This lien shall be superior to the
lien of any mortgage or other encumbrance, whether prior In
time or not, and shalt constitute such lien until paid, and until
paid, such lien shall not be subject to extinguishment for any
reason whatsoever, including but not limited to the sale of the
property assessed on account of the nonpayment of general tax-
es or the Conveyance of Such property by any means to the
United States of America, or any agencythereof, the State of
Idaho, or any county, city, school district, junior college district
or other public body, agency or taxing unit in said state.
SECTION 7. Publication. Publication of this ordinance shall be
made in the Idaho State Journal, a newspaper of the City of
Chubbuck, and said newspaper is declared to be the o€ficial pa-
per of the City of Chubbuck for said purposes.
SECTION 8. Protection from Repeal. This ordinance shall re
main irrepealable until after the bonds herein provided for,
both principal and interest, have been paid and discharged.
SECTION 9. EffeCtive Date. The rule requiring ordinances to be
read on three separate occasions is hereby dispensed with ano
this ordinaince shall be in full force and effect, from and after
its passage, approval and due publication, as provided by law.
PASSED BY TFIE COUNCIL AND APPROVED BY THE MAY
OR T IS 17th da, of October, 1978,
S/John O. Colant, Jr.
Mayor
ATTEST:
S/Vera C. Armstrong
October 24, 1978
No. 831
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