HomeMy WebLinkAbout09 18 1978 Bond SaleNOTICE OF BOND SALE
CITYOF CHUBBUCK, IDAHO
PUBLIC NOTICE 15 ;' EREBY
GIVEN that bonds of Local IM'
provement District No. 1 of the
City of Chubbuck, Idaho,- +gill be
sold at public . sale during the
regular meeting of the Chubbuck
City Council at 8;00 P.M. on the
101h day of October, 1978, at the
Chubbuck City Offices, 5160 Yel-
lowstone, Chubbuck, Idaho.
Sealed bids for said issue of
bonds will be received by the
City Clerk at this address until
October 10, 1978, at the hour of
5:00 P.M.
The bonds are issued for pay-
ment of expenses incurred with
respect to improvements within
the district (as described below)
consisting of (a) and 8 -inch con-
crete sewer line of approximately
660 feet, with appurtenances and
service connections to property
lines except certain property des,
ignated at theParrish Realty
and Insurance, Inc., property,
(b) a 10 -inch ductile iron water
line of approximately 1100 feet,
with appurtenances and service
connections to property lines ex-
cept the Parrish Realty and In
surance, Inc:, property; and (c)
street improvements including
pavement approximately 1300 feet
long and 36 feet wide (partially
overlaid upon an existing sur-
face), curb and gutter on both
sides of the pavement together
with approximately 100 feet of
valley gutters, approximately 1960
feet of sidewalk four feet wide
running along all of the south
side of the improved street and
along that part of the north side
excluding the portion abutted by
the Parrish Realty and Insur-
ance, Inc., property, and an irri-
gation ditch crossing. These im.
provements represent additional
improvements or enhancement
and reconstruction of existing
improvements within the district.
The district contains the following
property:
A tract of land in the
S1/2,SE'/4,NW'44, Section 10, T. 65.,
R. 34 E., B.M., Bannock County,
Idaho, and described to wit: Be-
ginning at the N E corner of
S'/,SEI/4,NWI,a, of Section 10, T.
6S., R. 34 E., B.M., thence west-
erly along said north line of the
Sl/2,5E44, NW'/a to the west right-
of-way line of Yellowstone High-
way a district of 36 feet more or
less, said point being the True
Point of Beginning; thence S 02
degrees 34'48" W - 456.92 feet
more or less to an Idaho State
Highway right-of-way monument;
thence S 73 degrees 02'07"W -
686.34 feet more or less to an
Idaho State Highway right-of-way
monument; thence N 89 degrees
29' 42"W - 600.22 feet more or
less; thence N 00 degrees 29' 42"
E - 663.11 feet more or less 10
the Said north line of S1/2,SE'.a,
NWIA of Section to, T. 6S., R. 34
E., B.M.; thence S 89 degrees 28'
24"E - 1276.36 feet more or less
to the True Point of Beginning.
All said IandS adjoining West
Burnside Avenue in the city of
Chubbuck, Idaho.
Estimated construction, engineer-
ing, legal, administrative and
clerical costs of the local im-
provement district are $98,500.00.
Interim warrants in the face
amount of 889,202.33, bearing -in-
terest at the rate of 10% peg an-
num have been issued at various
times during the Corse of work
on the district. Proceeds from
bond sale will be. used to dis-
charge the interim warrants, plus
accrued "interest, and residual ex-
penses not covered by the inter.
im warrants. The bonds will be
issued as soon as practicable fol.
lowing sale, the district improve-
ments having been completed and
PROOF OF PUBLICATION OCT
approved by the city. The issue
bonds shall bear interest at a
will consist of denominations of
$1,000.00, interest payable sem-
iannually. Bonds will be paid on
rate of rates to be fixed by the
City Council prior to issuance of
the bonds, which interest shall be
an amortization schedule for a
payable semi-annually On such
a
says: That ......
period not exceeding ten (70)
period
dates as may be fixed by the
years from date of issue.
City Council prior to the issue of
- Citizen of the United States of
All tenders, bids or offers to pur-
any such bonds.
chase the bonds must be in writ.
The City Coucil reserves the
and the Principal Cleric of THE
p
ing without conditions or qualifi-
right to reject any and all bids.
cations, and be accompanied by
RATED AT CHUBBUCK, IDAHO,
vspaper, printed and published at
an unconditional certified check
this 12th day ofSetember,1978.
in a sum equal to five percent
By; s/John O. Cotant Jr.
(5%) of the amount bid, free
Mayor
nd having a general circulation
from endorsements, payable to
Attest: s/Vera C. Armstrong
the order of the City Treasurer
City Clerk
of the City of Chubbuck, or by a
September 18, 25, 1978
cash deposit in like amount,
October 2, 1978
le Copy of which is attached, was
which said certified check or
No. 736
cash deposit shall be returnedto
sain jo. 31 n I E
JOURNAL, on the following dates,
any such bidder if his bid is nootf
, i
accepted; and which certified
check or cash deposit Of any suc.
cessful bidder who shall fail, ne.
glect or refuse to accept the
bonds so sold and to complete
and to pay therefor in accord
I
such suc
1 149"11%
ance with the terms of
bid within thirty (30)
days following acceptance thereof
-,
shall be forfeited to the City of
1 9
, 9 -----
Chubbuck. Prov"sded, however,
that said bonds, or any part
thereof, shall not be sold for less
t__-______ J�%__
19------
than their face or par value and
_ __
--------------------------------
their accrued interest thereon to
date of delivery thereof.
19-----_
19
Allbids should state the lowest
------"""-" ----------
_.-.""----, ------
""'
rate of interest thereof ,and prem-
Turn thereof if any above par, at
9-
9
which the bidder will purchase
----------
,
said bonds, or the lowest rate of
interest the purchaser will pur
said has been continuous) and uninterruptedly
Y P Y
Chase said bonds at Oar. Said
paper
P P
pub"
- n-snirc-,srsaid County for a period of seventy-eight weeks prior to the
pub I 6tionofid no 'ceor vertisement and is a newspaper within
the mee la of Idaho.
Subscribed and sworn to before me t is --------- ------ Q4,\ ----------_-.--
day of----00\ue2---- -----, 19�R
---------
Notary Public, State of Idaho
Residence: Pocatello, Idaho