Loading...
0157 Water Improvement Revenue Bonds 1975ORDINANCE NO. 157 AN ORDINANCE RELATING TO THE WATER SYSTEM OF THE CITY OF CHUBBUCK, IDAHO; PROVIDING FOR AND CALLING A SPECIAL ELECTION AT WHICH THERE SHALL BE SUBMITTED TO THE ELECTORS QUALIFIED TO VOTE THEREON THE QUESTION OF ISSUING WATER IMPROVEMENT REVENUE BONDS OF THE CITY FOR THE PURPOSE OF DEFRAYING IN PART THE COST OF IMPROVING, EXTENDING AND BETTERING THE CITY'S WATER SYSTEM; PRESCRIBING DETAILS IN CONNECTION THEREWITH; RATIFYING ACTION PREVIOUSLY TAKEN CONCERNING THE WATER SYSTEM, THE ELECTION AND THE BONDS; AND PROVIDING THE EFFECTIVE DATE HEREOF. WHEREAS, the City of Chubbuck (the "City"), Bannock County, Idaho, is a municipal corporation duly organized and existing as a city under the general laws of the State of Idaho; and WHEREAS, the current water system (the "system") of the City is presently in need of improvement, extension and betterment; and WHEREAS, the City Council (the "Council") has determined and does hereby determine that the interest of the community and the public interest and necessity require the immediate improvement, extension and betterment of the water system by the acquisition of a 1,000,000 gallon water storage facility and the subsequent purchase, construction and other acquisition of additional water mains, transmission lines, conduits, pipelines and connections and other appurtenances necessary, useful and convenient for the storing, transporting and distributing of water within the city (the "Project"); and WHEREAS, for the purpose of defraying, in part, the cost of the Project, the Council further deems it necessary to issue its water improvement revenue bonds in the aggregate principal amount of $Z50,000.00 , or so much thereof as may be necessary, payable solely from the revenues of the water system as so improved, extended and bettered pursuant to the Revenue Bond Act (the "Act"), cited as Sections 50-1027 through 50-1042, Idaho Code, and all laws thereto enabling; and WHEREAS, the City has previously pledged but has fully discharged any and all obligations upon which it has pledged the revenues derived from the operation of the water system for the redemption of bonds payable from such revenues, or otherwise, said water system being a single and separate utility, - 4 - with the result that the net revenues to be derived fr~m the operation of the system may be pledged lawfully and irrevocably to secure the repayment of such revenue bonds herein authorized pursuant to the Act; and WHEREAS, such revenue bonds shall not be a debt of the City of Chubbuck and it shall not be liable thereon, nor shall such revenue bonds be payable out of any funds other than the revenue from the water system pledged to the payment thereof; and WHEREAS, such water improvement revenue bonds cannot be issued without the assent of a majority of the qualified electors of the City voting at an election held for the purpose of authorizing or refusing to authorize the issuance of such revenue bonds; and WHEREAS, neither the question herein set forth nor any question for a similar, or like, purpose has been defeated at an election which has been held in the City within six months of the date of the adoption of this ordinance. NOW, THEREFORE, BE IT ORDAINED BY THE MAYOR AND COUNCIL OF THE CITY OF CHUBBUCK, IDAHO: Section 1. All action heretofore taken (not inconsistent with the provisions of this ordinance) by the Council and the officers of the City, directed toward: a. The Project; and b. The issuance of the City's water improvement revenue bonds therefore; and c. The calling and holding of an election for the authorization of such bonds, be, and the same hereby is, ratified, approved and confirmed, including, without limitation, the giving of notice of such election. Section 2. Subject to the assent of the majority of the qualified electors voting on the question, it is hereby ordered that the Project be purchased, constructed, and acquired and that the water improvement revenue bonds of the City of Chubbuck, in the aggregate principal amount of $250,000.00, or so much thereof as may be necessary, be issued pursuant to the Act to defray, in part, the cost thereof. Section 3. The project briefly and generally described shall consist of the improvement, extension and betterment of the water system by the acquisition of a 1,000,000 gallon water storage facility, and the subsequent - 5 - purchase, construction and other acquisition of additional water mains, transmission lines, conduits, pipelines, and connections, together with other appurtenances necessary, useful and convenient for the storing, transporting and distributing of water within the City of Chubbuck. Section 4. The details of the improvement, extension and betterment of the water system are more specifically shown and described in portions relating to water systems in the 1970 Engineering Report on a Preliminary Study, together with 1975 supplements and revisions thereto, prepared by Forsgren, Perkins & Associates, Inc., Consulting Engineers, of Rexburg and Pocatello, Idaho (herein "Engineer"). For further details, reference is hereby made to said report, supplements and revisions which are now on file and available for inspection in the office of the Clerk of the City. Section 5. The cost of the Project, including all incidental expenses, has been estimated by the Engineer to be approximately $250,000.00. This sum has been computed by the Engineer to include an amount sufficient for acquisition and installation of the 1,000,000 gallon water storage facility with necessary appurtenances, with such balance as may remain to be allocated to the acquisition and installation of water piping connecting the storage facility into the existing water system, together with street repairs and necessary appurtenances. The City contemplates issuing water revenue bonds in the aggregate principal amount of $250,000.00 or so much thereof as may be necessary. The City does not now anticipate that any of the cost will be defrayed by federal grants or grants from the State of Idaho; but such grant funds may be applied to the project if any become available in the future, and the scope of the project or the project cost to the City will be adjusted accordingly. Section 6. Such water revenue bonds shall bear interest at a rate or rates not exceeding eight and one-half - 6 - percent (8 1/2%) per annum, payable annually or at such lesser intervals as may hereafter be prescribed by ordinance; shall mature serially (or in installments if one bond is issued representing the entire principal amount of the bond issue) commencing within two (2) years from and after the date of the bonds and ending twenty (20) years from and after the date of the bonds; shall be payable solely from the revenues of the water system as so improved, extended and bettered in accordance with the provisions of the Act; and may be made subject to prior redemption at such time or times, with or without permium, and upon such terms and conditions as may be determined by the Council in the ordinance authorizing the bonds, or otherwise pertaining thereto. Section 7. A municiPal ~bond eleCtion shall be, and the same hereby is, called to be held on Tuesday, the 4th day of November, 1975, between the hours of 12:00 noon and 8:00 p.m. on said day for the purpose of enabling the qualified electors of the City to vote upon the question of issuing the water revenue bonds as set forth in the notice of election, the form of which is prescribed by this ordinance. This municipal bond election shall be held concurrently with the general municipal election scheduled to be conducted on the same date, during the same hours, and at the same precinct and polling place. Said municipal bond election shall be held in compliance with the municipal election laws set forth in-Idaho Code sections 50-401 through 50-423, except insofar as the election provisions of the Revenue Bond Act, Idaho Code sections 50-1027 through 50-1042, govern. In addition, there shall be full compliance with applicable provisions of the Voting Rights Act of 1965, 42 U.S.C. 1973-1973 bb-4, as amended by the Voting Rights Act Amendments of 1975, P.L. 94-73, and all applicable rules of the Bureau of the Census of the U.S. Department of Commerce and of the U.S. Attorney General. Section 8. There shall be one (1) voting precinct for the munlcip.a! bond election with boundaries coterminous with those of the City of Chubbuck. Section 9. At said election the voting place and officials serving thereat shall be as follows: - 7 - CHUBBUCK PRECINCT Polling Place Officials Chubbuck City Offices Janice Johnson 5160 Yellowstone Edna Bayliss Chubbuck, Idaho Shirley Leslie Ellen Kunz Virginia Finkelnberg Clerks Phyllis Armstrong Judge The above-named officials may also be designated to serve as officials of the concurrent general municipal election, together with such other individuals as may also be necessary and convenient to the conduct of the general municipal election. Section 10. The polls and the ballot boxes shall open at the hour of 12:00 noon on the day of the election and shall remain open continuously until the hour of 8:00 p.m. of said day, at which time the polls shall be closed. Section 11. The voting at the election on the question of issuing the water revenue bonds shall be by ballot substantially in the following form: [Continued on following page] - 8 - [Form of Water Improvement Revenue Bond Ballot] OFFICIAL BALLOT MUNICIPAL BOND ELECTION WATER REVENUE BONDS CITY OF CHUBBUCK, BANNOCK COUNTY STATE OF IDAHO November 4, 1975 QUESTION SUBMITTED: Shall the City of Chubbuck, Idaho, be authorized to issue and sell its water improvement revenue bonds in the aggregate principal amount of $250,000.00, or so much thereof as may be necessary, for the purpose of providing funds with which to improve, extend and better the water system of the City, said bonds to mature serially commencing within two years from and after the date of the bonds and ending twenty years from and after the date of the bonds, to bear interest at a rate or rates not to exceed eight and one-half percent (8 1/2%) per annum, as more fully provided in Ordinance No. 157 , signed and approved October 15, 1975, the principal of and interest on said bonds to be payable solely from the net revenues to be derived from the operation of the City's water system? IN FAVOR of issuing revenue bonds for the purposes provided by Ordinance No. 157 AGAINST the issuance of revenue bonds for the purposes pro- vided by Ordinance No. 157 Instructions to Voters: The voter must make a cross (X) in the appropriate space opposite the words which express his or her choice on the above question. All marks otherwise made are forbidden; all distinguishing marks are forbidden and render ballot void. If you by mistake or accident mark, tear, deface or otherwise mUtilate this ballot, return it to the election judge and obtain another ballot. [End of Form of Water Improvement Revenue Bond Ballot] - 9 - Section 12. The City Clerk shall cause to be printed not less than fifteen (15) days before the election, sample ballots containing the water revenue bond question to be submitted, which sample ballots shall be in the same form as the official ballots to be used, except they shall have printed thereon the words "sample ballot," shall be on paper of a different color than the official ballot and shall not be numbered, and the Clerk shall furnish copies of the same on application at her office to anyone applying therefor. Said sample ballot shall be published at least twice in the official newspaper of the City, the last time to be within five days of the election. Section 13. Ballots shall be furnished by the City Clerk to the judges of the election to be by them furnished to the voters. At said election only those persons who are qualified to vote at elections in the City of Chubbuck shall be permitted to vote on said water revenue bond question. Each person desiring to vote at the election shall sign a written verfication of registration setting forth his or her qualifications to vote at the election. Such verification of registration shall be in substantially the following form: [Continued on following page] - 10 - [Form of Verification of Registration] ELECTOR'S VERIFICATION OF REGISTRATION MUNICIPAL WATER IMPROVEMENT REVENUE BOND ELECTION CITY OF CHUBBUCK, COUNTY OF BANNOCK STATE OF IDAHO November 4, 1975 I do solemnly swear (or affirm) that I am a citizen of the United States; that I am of the age of eighteen years or over; that on or before the 1st day of November, 1975, I became and that I am now a bona fide resident of the City of Chubbuck and that I have not retained a home or domicile elsewhere; that I am a registered elector in this election precinct; and that I have not previously voted at this election, so help me, God. Elector Address of Elector Subscribed and sworn to before me this 4th day of November, 1975. Election Official lEnd of Form of Verification of Registration] - 11 - Section 14. Notice of such special bond election shall be given prior to said election by publishing notice in the Idaho State Journal, Pocatello, Idaho, which is the official newspaper of the City of Chubbuck, and of general circulation therein, at least once a week for two successive weeks prior to such election, and by posting such notice in at least three public places in said voting precinct. Section 15. The notice of election shall be in substantially the following form: [Continued on following page] - 12 - [Form of Notice] CITY OF CHUBBUCK, IDAHO NOTICE OF MUNICIPAL BOND ELECTION November 4, 1975 PUBLIC NOTICE IS HEREBY GIVEN that a municipal bond election will be held in the City of Chubbuck, Bannock County, Idaho, on Tuesday, November 4, 1975, for the purpose of voting on the following question: WATER IMPROVEMENT REVENUE BOND QUESTION SUBMITTED: Shall the City of Chubbuck, Idaho, be authorized to issue and sell its water improvement revenue bonds in the aggregate principal amount of $250,000.00, or so much thereof as may be necessary, for the purpose of providing funds with which to improve, extend and better the water system of the City, said bonds to mature serially commencing within two years from and after the date of the bonds, and ending twenty years from and after the date of the bonds, to bear interest at a rate or rates not to exceed eight and one-half percent (8 1/2%) per annum, as more fully provided in Ordinance No. 157 , signed and approved October 15, 1975, the Principal of and the interest on said bonds to be payable solely from the net revenues to be derived from the operation of the City's water system? At such election only registered qualified electors of the City will be permitted to vote on the question submitted. A qualified elector is a person who shall be eighteen years of age or older on the date of the election, a citizen of the United States, and a bona fide resident of the City of Chubbuck, Idaho, as of the date of registration and of the election. Any registered qualified elector desiring to vote on the above bond question will be required to sign a written verification of registration setting forth his or her qualifications to vote at~the~tection. The polls will open at the hour of 12:00 o'clock noon on said day, and will be open continuously until the hour of 8:00 o'clock p.m., at which time the polls will be closed. There shall be one voting precinct with boundaries coterminous with those of the City. The polling place for the qualified electors and the officials serving thereat shall be as follows: - 13 - CHUBBUCK PRECINCT Polling Place Chubbuck City Offices 5160 Yellowstone Chubbuck, Idaho Officials Clerks Janice Johnson Edna Bayliss Shirley Leslie Ellen Kunz Virginia Finkelnberg Judge Phyllis Armstrong Vera C. Armstrong, City Clerk, is ex-officio Registrar of the City. The place of registration is the office of the City Clerk in Chubbuck, Idaho. Except as provided by Section 50-412, Idaho Code, it shall be necessary to register in order to vote at such bond election. When once so registered for a general city election, thereafter an elector shall not be required to again register for the bond election so long as he shall have continued to reside at the same address, or within the same precinct in which he is registered except as hereinafter provided. If an elector shall have moved from the City and shall remain away from such City for a period of one (1) year, his name is stricken from the electors' register. If he or she shall thereafter again reside in such City, he or she may again register and be eligible to vote, provided that he or she possesses the other qualifications required by law. If an elector shall have failed or neglected to vote at any general biennial city election, the Clerk shall strike the name of such elector from the electors' register, and such elector, in order to vote-at the bond election, must again register. Persons who are not currently registered may register on each day at any time during the regular office hours of the City Clerk until and including the Saturday next preceding the election; and on Thursday, Friday and Saturday next preceding the election persons may register between the hours of 9:00 o'clock a.m. and 5:00 o'clock p.m. and between the hours of 7:00 o'clock p.m. and 9:00 o'clock p.m. The voting at said election shall be by ballot. The ballots to be supplied the voters for their use at said election shall be in the form set out in said Ordinance No. 157 . - 14 - Absentee voting will be permitted for the above- described election in the manner prescribed by law. A written application for an absent voter's ballot shall contain the name of the elector, the elector's home or residence address, and the address to which such ballot shall be forwarded. Such application shall be to the City Clerk of Chubbuck, Idaho. Ordinance No. 157 was adopted for the purpose of ordering the improvement, extension and betterment of the water system by a project providing for the acquisition of a 1,000,O00 gallon water storage facility with necessary appurtenances, and for the subsequent acquisition and installation of additional water mains, transmission lines, conduits, pipelines, connections and other appurtenances necessary, useful and convenient for the storing, transporting and distributing of water within the City of Chubbuck, and ordering the issuance of water improvement revenue bonds, subject to the assent of the majority of the registered qualified electors voting on the question. Proceedings to contest the results of the municipal bond election on the above question may be instituted as provided in Section 34-2001, Idaho Code, but shall be instituted within forty days after the votes cast at such election have been canvassed and the results thereof declared and not thereafter. BY ORDER OF THE CITY COUNCIL OF THE CITY OF CHUBBUCK, IDAHO, THIS 15th DAY OF OCTOBER, 1975. [End of Form of Notice] - 15 - Section 16. If at such election the majority of the qualified electors of the City voting at such election assents to the issuance of the water improvement revenue bonds, they should be issued as provided by the Revenue Bond Act and they shall be sold, executed and delivered in the same manner provided by the Municipal Bond Law of the State of Idaho. Section 17. The officers of the City shall be, and they hereby are, authorized and directed to take all action necessary or appropriate to effectuate the provisions of this ordinance. Section 18. All by-laws, resolutions and ordinances in conflict with this ordinance, are hereby repealed. Section 19. If any section, paragraph, clause or provision of this ordinance shall for any reason be held to be invalid or unenforceable, the invalidity or unenforceability of such section, paragraph, clause or provision shall not affect any of the remaining provisions of this ordinance. Section 20. This ordinance shall be published after adoption in at least one issue of the Idaho State Journal, of Pocatello, Idaho, which is the official newspaper of the City of Chubbuck. Section 21. This ordinance shall be in full force and effect from and after its passage, approval and publication, as provided by law. PASSED by the City Council of the City of Chubbuck, Idaho, this 15th day of October, 1975. APPROVED by the Mayor of the City of Chubbuck, Idaho, this 15th day of October, 1975. Attest: Cit7 Clerk CITY COUNCIL OF THE CITY OF CHUBBUCK, A MUNICIPAL CORPORATION OF IDAHO By: ' May-r - 16 -