HomeMy WebLinkAboutORD 1733BILL NO. 18
ORDINANCE NO. 1733
AN ORDINANCE ESTABLISHING A "CAPITAL IMPROVEMENT FUND"
UNDER THE PROVISION OF 50 -236 OF THE IDAHO CODE FOR THE PURPOSE
OF PROVIDING FUNDS FOR CAPITAL IMPROVEMENTS FOR THE STADIUM
COMPLEX OF THE CITY OF CALDWELL, SAID CAPITAL IMPROVEMENT FUND
IS SUBJECT TO THE PROVISIONS OF SECTION 50 -1014 OF THE IDAHO
CODE IN RESPECT TO THE TRANSFER OF UNEXPENDED BALANCE IN SAID
FUND AND PROVIDING FOR THE ADMINISTRATION OF SAID CAPITAL
IMPROVEMENT FUND.
BE IT ORDAINED By the Mayor and Council of the City of
Caldwell, Idaho:
Section 1. That there be and hereby is created a "Capital
Improvement Fund" under the provision of Section 50 -236 of the
Idaho Code; that said fund shall be used solely for the purpose
of Capital Improvements at the Stadium Complex.
Section 2. That in addition to other taxes levied by the
City of Caldwell, there shall be levied a special tax not to
exceed one mill in any one year of the assessed valuation of the
property within the boundaries of the City of Caldwell; that said
funds shall never exceed in the aggregate two percent (2;) of
the assessed valuation of the property within the City of
Caldwell.
Section 3. That the funds derived from the special tax levy
herein set forth shall not be subject to the provision of Section
50 -1014 of the Idaho Code in that the funds derived from the levy
herein provided must be used solely and wholly for the purpose as
set forth in this ordinance.
Section 4. That the levy of this special tax shall commence
during the year 1986 and shall be assessed annually thereafter
until further action by the City Council or until such time as the
maximum amount has been levied under the provision of Section
50 -236 of the Idaho Code which provides that said funds shall not
exceed in the aggregate two percent (2 %) of the assessed valuation
ORDINANCE - 1
of the property situated within the boundaries of the City of
Caldwell.
Section 7. All ordinances, resolutions, orders or parts
thereof, in conflict herewith are hereby repealed, rescinded and
annulled.
Section 8. This ordinance shall be in full force and effect
from and after its passage, approval and publication according to.
law.
PASSED BY THE CITY COUNCIL OF THE CITY OF CALDWELL THIS
2nd DAY OF September 1986.
APPROVED BY THE MAYOR OF THE CITY OF CALDWELL THIS
2nd DAY OF Septe 1986.
o
Mayor
ATTEST;
City Clerk
ORDINANCE - 2