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0475 Intent to Sell City Property Diamond Court Lot 14 1997CITY OF CHUBBUCK, IDAHO ORDINANCE NO. 4 7 s AN ORDINANCE OF THE CITY OF CHUBBUCK, IDAHO, EXPRESSING AN INTENT TO SELL, CONVEY OR EXCHANGE CERTAIN DESCRIBED REAL PROPERTY OWNED BY THE CITY; AUTHORIZING A SALE FOR CASH OR TERMS OF SAID PARCEL BY PUBLIC AUCTION TO THE HIGHEST BIDDERS FOR AMOUNTS EQUALING OR EXCEEDING THE APPRAISALS; RESERVING TO THE CITY THE RIGHT TO REJECT ANY OR ALL BIDS ON ANY PARCEL; PROHIBITING SUCH SALE FROM OCCURRING UNTIL SIXTY DAYS HAVE EXPIRED FROM THE DATE OF PASSAGE OF THIS ORDINANCE AND A PUBLIC HEARING HAS BEEN HELD DURING THAT PERIOD; PROVIDING THAT PROCEEDS FROM SALES SHALL BE USED TO DISCHARGE CITY INDEBTEDNESS OR FOR PUBLIC IMPROVEMENTS; PROVIDING THAT IF THE PROPERTY IS NOT SOLD AT PUBLIC AUCTION, THE SAME MAY BE EXCHANGED FOR OTHER PROPERTY WITHOUT FURTHER NOTICE OR AUCTION; AND REPEALING PRIOR CONFLICTING ORDINANCES; PROVIDING FOR THE SEVERABILITY OF THE PROVISIONS OF THIS ORDINANCE; AND PROVIDING WHEN THIS ORDINANCE SHALL BECOME EFFECTIVE. BE IT ORDAINED BY THE MAYOR AND COUNCIL OF THE CITY OF CHUBBUCK, IDAHO: Section 1. Declaration of Intent. The Mayor and Council of the City of Chubbuck, Idaho, do hereby declare their intent, pursuant to Idaho Code Sections 50-1401 and 50-1403, to sell, convey or exchange the following described real property, together with improvements and appurtenances, located in Bannock County, Idaho: Lot 14, excepting the west 382.5 feet thereof, Block 1, Diamond Court subdivision to Bannock County, Idaho, according to the official plat thereof on file with the Bannock County Recorder. Section 2. Appraisals. This property has been appraised for $ 63,650. Said real property is owned by the City but is not used or has ceased to be used for public purposes. Section 3. Authorization of Sale. The City Clerk shall cause to be published in the Idaho State Journal, the official newspaper of the city, a "Notice of Sale at Public Auction", describing the realty in question, specifying its appraised value as the minimum acceptable bid, stating that Ordinance - Page 1 chubbuck10.28b said realty will be sold for cash or terms to the highest bidder, indicating how the highest bid will be awarded, and reserving to the city the right to reject any and all bids. Section 4. Interim Period and Hearin. Notwithstanding the foregoing provisions, the sale of said parcel shall not occur until at least sixty days have expired from the date of passage of this ordinance, to provide time for the filing of petitions in opposition, if any, as prescribed by Idaho Code § 50-1403. On the 20th day of January, 1998, at 7:45 p.m., at the Chubbuck City Offices, 5160 Yellowstone, the City Council shall hold a public hearing on the proposed sale. Publication of this ordinance shall constitute notice of the hearing. Section 5. Proceeds of Sale. Proceeds from the sale of this parcel shall be used to pay the indebtedness existing against the city or for needed public improvements, as authorized by Idaho Code. Section 6. Exchange of Sale Following Public Auction. If the parcel is not sold at the public auction provided for in Section 3, the Mayor and Council may, without further notice or action, exchange all or part of the parcel for other property pursuant to the provisions of Idaho Code § 50-1405; provided the Council finds, pursuant to Idaho Code § 50-1404 that the consideration received by the City in exchange is adequate. If no bids are received, the City Council shall have authority to sell the parcel as it deems in the best interest of the City, pursuant to the provisions of Idaho Code § 50-1404. Ordinance - Page 2 chubbuck10.28b • Ll ADMINISTRATIVE PROVISIONS Section 1. Repeal of Conflicting Ordinances. The provisions of any Ordinance of the City of Chubbuck, Idaho, and any provision of the Chubbuck Municipal Code which are in conflict with the provisions of this Ordinance are hereby repealed to the extent of such conflict. Section 2. Severability. If any provision of this ordinance is held invalid, for any reason, by any court of competent jurisdiction, such holding shall not affect the validity or enforceability of any of the remaining provisions. Section 3. Effective Date. The rule requiring an ordinance to be read on three separate days, one of which shall be a reading in full, is hereby dispensed with, and this Ordinance shall become effective upon its passage, approval and publication as provided by law. PASSED BY THE COUNCIL AND APPROVED BY THE MAYOR OF THE CITY OF CHUBBUCK, IDAHO, this 28th day of October, 1997. YOR ATTEST: CITY CLERK Ordinance . Page 3 chubbuck10.28b f - NOTICE OF SALE AT PUBLIC AUCTION The Mayor and Council of the City of Chubbuck, Idaho, have authorized by Ordinance the sale of the following described real property owned by the City and located at 5200 Yellowstone: Lot 14 excepting the west 382 feet thereof, Block 1, Diamond Court Subdivision to Bannock County, Idaho, according to the official plat thereof on file in the Bannock County Records. The value of said property has been appraised at $63,650.00. The property will be sold at public auction for cash or terms to the highest bidder during a regular meeting of the City Council at 7:45 p.m. on the 20th day of January, 1998, at the Chubbuck City Office, 5160 Yellowstone, Chubbuck, ID. However, no opening bid for cash or principal less than the appraised value will be accepted, and the City reserves the right to reject any and all bids. Bids on terms must specify a contract period not exceeding ten years with the annual rate of interest on all deferred payments of not less than six percent. The bid award will be based upon the maximum probable economic benefit to the City. Every bid shall be submitted in person by the potential purchaser or the purchaser's authorized agent at the time and place specified above. The identity, place of residence, and business, and business address of each potential purchaser shall be disclosed at the time of bidding. If the potential purchaser is a corporation, organization, or other artificial entity, the names and address of its shareholders or members, its directors and its officers shall also be disclosed. CITY OF CHUBBUCK: i le 4ZeeZ�1 MAYOR ATTEST: ;�, v CITY CLERK NOTICE OF SALE AT PUBLIC AUCTION - Page 1 chubbuck10.28a