HomeMy WebLinkAbout12 19 2007 Ord. 652PROOF OF PUBLICATION
STATE OF IDAHO
County of Bannock
LN14699 KAREN MASON
'ng first duly sworn on oath deposes and says:
SUMMARY OF ORDINANCE NO. 652 t S14E was at all times herein mention a
I ORDINANCE CALLING A SPECIAL GENERAL OBLIGATION BOND zen of the United States of America more
.LECTION FOR THE PURPOSE OF SUBMITTING TO THE QUALIFIED n 21 years of age, and the Principal Clerk of
_LECTORS OF THE CITY OF CHUBBUCK, IDAHO, THE PROPOSI-
ION OF THE ISSUANCE OF UP TO $3,840,000 GENERAL OBLIGA- Idaho State Journal, a daily newspaper,
-ION PUBLIC BUILDING BONDS OF THE CITY OF CHUBBUCK, IDA- rated and published at Pocatello, Bannock
10; ESTABLISHING AN OFFICIAL BALLOT; ESTABLISHING THE p
)UALIFICATIONS FOR VOTERS AND THE HOURS WHEN POLLS unty, Idaho and having a general circulation
MILL BE OPEN; CERTIFYING THAT THE OBLIGATIONS OF THE CITY
NILL NOT EXCEED CERTAIN LIMITS; CALLING FOR THE PRINTING
%ND DISTRIBUTION OF BALLOTS AND FOR THE PUBLICATION OF
rHE SAMPLE BALLOT AND NOTICE OF THE ELECTION; PROVIDING
THE LANGUAGE FOR THE PUBLIC NOTICE; PROVIDING FOR THE
ISSUANCE OF BONDS UPON THE SUCCESSFUL PASSAGE OF THE
SSUE BY THE VOTERS; CALLING FOR A SPECIAL PUBLIC MEETING
AFTER THE ELECTION TO CANVASS THE RESULTS; CALLING FOR
THE LEVY OF A TAX AS NEEDED TO PAY SUCH BONDS; AND PRO-
VIDING AN EFFECTIVE DATE, THE RULE REQUIRING THREE SEPA-
RATE READINGS HAVING BEEN DISPENSED WITH.
CITY OF CHUBBUCK
BANNOCK COUNTY, IDAHO
Summary of the principal provisions of Ordinance No. 652 of the City of
Chubbuck, Bannock County, Idaho, adopted on December 11, 2007, is as
set forth in the description title above and as follows:
i accordance with Section 50-901A(2), Idaho Code, Sections 8 and 11 of
the Ordinance contain provisions regarding taxation and provide:.
ECTION 8. That if at said election two-thirds (213) of the qualified regis-
tered electors of the City, eighteen (18) years of age or older who have .
resided in the City for thirty (30) days voting thereat assent to the Issu-
ance of said bonds, the general obligation bonds of the City shall be Is-
sued as hereinabove provided and shall mature over a period commenc-
ing at the expiration of one (1) year from their date and ending not more
than twenty (20) years from their date and shall bear interest and be pay-
able, 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 to the extent public
building revenues are not available for payment thereof, provided,howev-
er that there has also been a favorable two-thirds (213) vote occurring in a
concurrent similar bond election held in the City of Pocatello authorizing a
further separate amount of up to $20,160,000 by its voters for the same
purpose.
i"hat it is the understanding of the City Council that concurrent with the
City,s $3,840,000 special general obligation bond election provided for
herein, there is a similar bond election taking,place in the City of Pocatel-
lo, which requests its voters to approve further separate general obliga-
tion bonds in the principal amount of up to $20,160,000 for the same pur-
pose as the City,s $3,840,000 in bonds; and that it is also the further un-
derstanding and intent of the City that in the event the voters of either the
City of Chubbuck or the City of Pocatello fail to vote in favor of approving
their respective general obligation bond amounts, then neither the City of
Chubbuck nor the City of Pocatello will issue its bonds for the purpose of
financing the Holt Arena Project; and that the Holt Arena Project will not
be accomplished or completed by this means of general obligation bond
financing. That it is also the intent of the City of Chubbuck to enter into a
potential agreement with Idaho State University, whereby Idaho State
University would or may charge.in-the future a user,s fee for use of the
Holt Arena, As a potential further source of additional public building reve-
nues, and such funds would or may be used to assist with payment on
any Holt Arena Project generarobligation bonds of the City.
SECTION 11. That said general obligation bonds shall be issued it carried
by not only the City of Chubbuck electorate but also the City of Pocatello
electorate, as aforesaid indicated, and payment of principal and interest
shall be made on up to $3,840,000 principal amount of said bonds, to the
extent public building revenues are not availablefor payment thereof,
.. _ _. _ _ w.,h. ;., J_ M r.hiihhnrk
rein.
it the document or notice, a true copy of
ich is attached, was published in the said
SHO STATE JOURNAL, on the following
''s, to -wit:
Dec 19 2007 2007
T 2007 2007
2007 2007
2007 2007
t said paper has been continuously and
iterruptedly published in said County for
riod of seventy-eight weeks prior to the
lication of said notice of advertisement
is a newspaper within the meaning of the laws
laho.
IDAHO
1F BANNOCK
his 19th of Dec in the year of 2007,
re me, a Notary Public, personally appeared
ZEN MASON Known or identified to me to be
.)erson whose name subscribed to the within
urnent, and being by me First duly sworn,
fired that the statements therein are true, and
Owledge to me that he executed the same.
N ry of Public i;ornn
►11.Re(iding at rungi. Cxp.2/09
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