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HomeMy WebLinkAboutORD 2007r BILL NO. 32 ORDINANCE NO. 2007 AN ORDINANCE CREATING LOCAL IMPROVEMENT DISTRICT NO. 93 -4 OF THE CITY OF CALDWELL, IDAHO; DESCRIBING THE IMPROVEMENTS TO BE MADE THEREIN; DESCRIBING AND SETTING FORTH THE BOUNDARIES OF SAID DISTRICT; AUTHORIZING THE ADVERTIZING FOR BIDS FOR CONSTRUCTING SAID IMPROVEMENTS; PROVIDING FOR THE ASSESSMENT OF COSTS AND EXPENSES OF SAID IMPROVEMENTS AGAINST THE PROPERTY WITHIN THE DISTRICT BENEFITED THEREBY AND THE METHOD OF ASSESSMENTS; PROVIDING FOR THE ISSUANCE OF LOCAL IMPROVEMENT DISTRICT BONDS AND WARRANTS; AND PROVIDING FOR THE PUBLICATION AND EFFECTIVE DATE OF THIS ORDINANCE. BE IT ORDAINED by the Mayor and City Council of the City of Caldwell, Idaho: SECTION 1. The City Council of Caldwell, Idaho, hereby finds and declares: (a) That Local Improvement District No. 93 -4 will be in the best interests of the property affected and of the City; (b) That there is a reasonable probability that the obligations of Local Improvement District No. 93 -4 will be paid; (c) That the value of the property subject to assessment within Local Improvement District No. 93 -4 (such value being determined by the current assessed valuation of such property for ad valorem tax purposes, as shown by the records of the Assessor of Canyon County) exceeds the sum of the estimated costs to be assessed against the property included in Local Improvement District No. 93 -4; and (d) That the City Council has heard, considered, and passed upon all protests which were filed in writing in advance of the hearing, or entered verbally at the hearing as more fully set forth in the proceedings of said hearing. SECTION 2. There is hereby created and established a Local Improvement District within the City of Caldwell, to be designated "Local Improvement District No. 93 -4 ( "LID No. 93 -4 11 ), the boundaries of which Local Improvement District are as follows: Commencing at the northwest corner of the southeast quarter of the northwest quarter of the northwest quarter, Sec. 23, T4N, R3W, B.M. which point is also the intersection of Homedale Avenue and Jackson Street; thence, east along the centerline of Jackson Street 431.05 feet; thence, south 181 feet; thence, west 105.25 feet to the centerline of Alaska Street; thence, south along the centerline of Alaska Street to the intersection of Independence Avenue; 0 0 thence, west along the centerline of Independence, 325.84 feet to the centerline of Homedale Avenue; thence, north along the centerline of Homedale Avenue 330.47 feet to the POINT OF BEGINNING. SECTION 3. The improvements to be made within L.I.D. No. 93 -4 are as follows: Five hundred thirty five feet of eight inch sewer main and four manholes to serve the property between Jackson Street and Independence from Homedale Avenue to Alaska Avenue. SECTION 4. The aforementioned improvements shall be made and the costs and expenses thereof shall be assessed against the abutting, adjoining, and adjacent lots and lands according to the Benefits Derived method of assessment, all as provided by Section 50 -1707, Idaho Code. SECTION 5. Said improvements are further and additional improvements. SECTION 6. The total estimated cost of said improvements is $35,000.00 and shall be paid from a levy of special assessments against the abutting, adjoining, contiguous, and adjacent lots and lands benefited and included in L.I.D. No. 93 -4, each lot and parcel of land being separately assessed for the cost thereof on the basis set forth in Section 4 of this Ordinance. Said assessments may be paid in ten equal annual installments of principal and interest as nearly as practicable, if not otherwise paid as provided by law. SECTION 7. Costs and expenses assessed as herein provided shall include the contract price of the improvements, engineering and clerical services, advertizing, costs of inspection, costs of collecting assessments, interest on any warrants issued, legal services for preparing the proceedings and in advising in regard thereto, and costs of acquiring land, if necessary. SECTION 8. The City Council hereby finds that such apportionment is equitable and is based upon the special benefits each parcel will receive from the project. SECTION 9. The City Engineer is hereby appointed as Engineer for the project and shall prepare the necessary plans and specifications for the construction of the improvements , advertise for Bid and prepare an Assessment Roll as provided in Idaho Code Sections 50 -1710 and 50 -1712. SECTION 10. To provide for the immediate payment of the improvements herein provided for, pending the payment of the installments on assessments hereinabove provided for, the City shall issue bonds as provided in Idaho Code, Sections 50 -1715, 50- 1722, and 50 -1724. For the purpose of making payments for said improvements as the same are installed, prior to the issuance or 0 9 sale of bonds, the City may issue warrants against L.I.D. 93 -4 assessments payable to the contractor or other persons upon the estimate of the Engineer, bearing interest at not in excess of allowable limitations as determined by the City, which warrants, together with interest thereon to the date of the issuance of the bonds, if issued, shall be redeemed and retired by the proceeds of assessments paid in full and proceeds of the sale of said bonds. SECTION 11. This ordinance shall take effect and be in force upon its passage, approval, and publication. PASSED BY THE CITY COUNCIL of the City of Caldwell this 4th day of October, 1993. APPROVED BY THE MAYOR of the City of Caldwell this 4th day of October, 1993. ATTEST: