HomeMy WebLinkAbout1994-010 Water System Improvements RESOLUTION NO. 10 -94
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CHUBBUCK,
IDAHO, AUTHORIZING THE EXECUTION AND FILING OF A PETITION FOR
JUDICIAL CONFIRMATION, PURSUANT TO TITLE '7, CHAPTER 13, IDAHO
CODE, WITH RESPECT TO CERTAIN WATER SYSTEM IMPROVEMENTS;
FINDING AND DECLARING THAT A PROPOSED INSTALLMENT PURCHASE
AND TRUST AGREEMENT AND EVIDENCE OF INDEBTEDNESS PURSUANT
THERETO CONSTITUTES "ORDINARY AND NECESSARY EXPENSES" OF THE
CITY WITHIN THE MEANING OF ARTICLE 8, SECTION 3, IDAHO
CONSTITUTION; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, the City of Chubbuck, Idaho (the "City"), has for many years owned
and operated a municipal domestic water system ("System"), which System is in need of
certain improvements and repairs (the "Project") for its continued operation in
accordance with applicable state and federal laws and standards; and
WHEREAS, the City Council has determined that it is in the best interests of the
City and its inhabitants to finance the costs of such through an Installment Purchase and
Trust Agreement with First Security Bank of Idaho, N.A.; and
WHEREAS, the First Security Bank of Idaho, N.A., has tentatively approved such
Agreement, subject to the condition, among other conditions, that the City first obtain
judicial confirmation, pursuant to the Judicial Confirmation Law, the same being Title ?,
Chapter 13, Idaho Code, of the validity of the proposed Installment Purchase and Trust
Agreement and any evidence of indebtedness thereunder as an "ordinary and necessary
expense" of the City under Article 8, Section 3, of the Idaho Constitution.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF CHUBBUCK, IDAHO, as follows:
Section 1: The Petition for Judicial Confirmation (the "Petition"), a copy of which
is annexed hereto and by reference made a part hereof, is approved, and the Mayor is
authorized to execute the verification of the same.
Section 2: The City Attorney is hereby authorized to file said Petition on behalf
of the City in the District Court of the Sixth Judicial District of the State of Idaho, in
and for the County of Bannock, and to take all actions necessary with respect thereto in
order to obtain an judgment of said court in accordance with the prayer of said Petition.
Section 3: The City Council hereby finds and declares that the proposed
Installment Purchase and Trust Agreement, and any evidence of indebtedness executed
pursuant thereto, for the financing of said Project, constitute an ordinary and necessary
RESOLUTION - Page 1
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expense of the City within the meaning of Article 8, Section 3, Idaho Constitution, for
which no approving vote of the electors of the City is required, for the following reasons:
A. The proposed expenditure is necessary to protect the health and safety of
the inhabitants of the City and to comply with State and federal health and
environmental standards.
B. The proposed expenditure is for the purpose of repairing, rehabilitating,
maintaining, and extending existing City services in order to render them
Serviceable, as opposed to the construction of wholly new facilities.
C. The amount of the proposed indebtedness is not disproportionate to the
City's overall budget for the year.
D. The proposed Project is authorized by the general laws of the state.
E. The City has operated the existing System for many years and has
determined that the Project is indispensable to the efficient continued
operation of the System.
Section 4: This Resolution shall take effect and be in force immediately upon its
passage and approval.
DATED this llth day of October, 1994.
CITY OF CHUBBUCK
Bannock County, Idaho
J/~hn O. Cotant, Mayor
ATTEST:
Ron Conlin, City Clerk
RESOLUTION - Page 2
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RESOLUTION #10-94
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CHUBBUCK.
IDAHO, AUTHORIZING THE EXECUTION AND FILING OF A PETITION FOR
JUDICAL CONFIRMATION, PURSUANT TO TITLE 7, CHAPTER 13, IDAHO CODE,
WITH RESPECT TO CERTAIN WATER SYSTEM IMPROVEMENTS; FINDING AND
DECLARING THAT A PROPOSED INSTALLMENT PURCHASE AND TRUST AGREEMENT
AND EVIDENCE OF INDEBTEDNESS PURSUANT THERETO CONSTITUTES
"ORDINANRY AND NECESSARY EXPENSES" OF THE CONSTITUTION; AND
PROVIDING AN EFFECTIVE DATE.
WHEREAS, the City of Chubbuck, Idaho (the"City"), has for many
years owned and operated a municipal domestic water
system("System"), which System is in need of certain improvements
and repairs ("the Project"), for its continued operation in
accordance with applicable state and federal laws and standards;
and
WHEREAS, the City Council has determinded that it is in the
best interests of the City and its inhabitants to finace the costs
of such through an Installment Purchase and Trust Agreement with
First Security Bank of Idaho, N.A.; and
WHEREAS, the First Security Bank of Idaho, N.A., has
tentatively approved such Agreement, subject to the condition,
among othe conditions, that the City first obtain judicial
confirmation, pursuant to the Judicial Confirmation Law, the same
being Title 7, Chapter 13, Idaho Code, of the validity of the
proposed Installment Purchase and Trust Agreement and any evidence
of indebtedness thereunder as an "ordinary and necessary expense"
of the City under Article 8, Section 3, of the Idaho Constitution.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF CHUBBUCK, IDAHO, as follows:
Section 1: The petition for Judicial Confirmation ("the
Petition"), a copy of which is annexed hereto and by reference made
a part hereof, is approved, and the Mayor is authoized to execute
the verification of the same.
Section 2: The City Attorney is hereby authorized to file said
Petition on behalf of the City in the District Court of the Sixth
Judicial District of the State of Idaho, in and for the County of
Bannock, and to take all actions necessary with respect thereto in
order to obtain a judgement of said court in accordance with the
prayer of said Petition.
Section 3: The City Council hereby finds and declares that the
proposed Installment Purchase and Trust Agreement, and any evidence
of indebtedness executed pursuant thereto, for the financing of
said Project, constitute an ordinanry and necessary expense of the
City within the meaning of Article 8, Section 3, Idaho
Constitution, for which no approving vote of the electors of the
City is required, for the following reasons:
A. The proposed expenditure is necessary to protect the
health and safety of the inhabitants of the City and to
comply with State and federal health and environmental
standards.
B. The proposed expenditure is for the purpose of repairing,
rehabilitating, maintaining, and extending existing City
services in order to render them servicable, as opposed
to the construction of wholly new facilities.
C. The amount of the proposed indebtedness is not
disproportionate to the City's overall budget for the
year.
D. The proposed Project is authorized by the general laws of
the state.
E. The City has operated the existing System for many years
and has determined that the Project is indispensable to
the efficient continued operation of the System.
Section 4: This Resolution shall take effect and be in force
immediately upon its pasage and approval.
DATED this llth. day of October, 1994.
CITY OF CHUBBUCK
Bannock County, Idaho
By
~tant, Mayor
ATTEST:
Ron C. Conlin, City Clerk
LAW OFFICES
JONES, CHARTERED
415 SOUTH ARTttUR
LAMONT JONES P.O. BOX 967
JACK H. ROBISON POCATELLO, IDAHO 83204-0967 TELEPHONE: (208) 232-5911
THOMAS J. HOLMES FAX: (208) 232-5962
JESSE C. ROBISON
KELLY KUMM
October 18, 1994
Ron Conlin
City of Chubbuck
P. O. Box 5604
Chubbuck, Idaho 83202-0006
Dear Ron:
Enclosed please find Resolution No. 10-94, regarding filing of a petition for
judicial confirmation.
Sincere
Thomas J. Holmes
TJH/Osc
chbbck10.181
Enclosure