HomeMy WebLinkAboutORD 1829BILL NO. 29
ORDINANCE NO. 1329
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 RECREATION
FACILITY IMPROVEMENTS, CITY FACTILITY IMPROVEMENTS AND STREET
IMPROVEMENTS 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 for Recreation Facility Improvements,
City Facility Improvements, and Street Improvements.
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%S) 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 ofthe Idaho Code in that the funds drived 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 1989 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 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thereof, in conflict herewith are hereby repealed, rescinded and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
I
from and after its passage, approval and publication according to
law.
PASSED BY THE CITY COUNCIL OF THE CITY OF CALDWELL THIS
21 DAY OF August , 1989.
APPROVED BY THE MAYOR OF THE CITY OF CALDWELL THIS � DAY
OF August , 1989.
Mayor
ATTEST:
City Clerk '��—