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HomeMy WebLinkAboutORD 3251- a ' ORDINANCE N0.' AN ORDINANCE AMENDING SECTIONS 4, 5. b and 7 of ORDINANCE NO. 312 OF THE CITI)f OF CALDWELL, IDAHO, ENTITLED; AN ORDINANCE CREATING AND ESTABLISHING A LOCAL IMPROVEMENT DISTRICT TO BE CALLED "LOCAL STREET Q DISTRICT NO. 2" IN THE CITY OF CALDWELL, CANYON COUNTY, IDAHO- DESIGNATING THE STREETS'° AND POINTS BETWEEN WHICH SAID IFPROVEl M'ENTS BEALL BE MADE, AM PROVIDING FOR THE CONSTRUCTIONS OF PAVEAWT CURBS AND GUTTERS THEREON; PROVIDING TRAT THE COST AND EXPENSE OF SAID I SHALL BE TAXED AND ASSESS UPON ALL THE PROPERTY IN SAID IMPROVEA3UT DISTRICT FRONTING OR ABUTTING OR CONTIGUOUS OR TRIBUTARY TO THE PORTIONS or SAID STREETS 30 IMPROVED; AND PRESCRIBING TIM METHOD OF SUCH ASSES311ENT AND THE PAYMENT THEREOF; REPEALING ALL ORDINANCES, RESOLUTIONS OR ORDERS, OR PANTS THMEOp. IN CONFLICT HEREWITH! AND DECLARING AN EMERGENCY. Passed and approved.April 7, 1919. BE IT ORDAINED by the Mayor and Council of the City of Caldwell, Canyon County, State of Idaho, as follows; Section 1. That Section 4 of Ordinance No. 312 of said City be and the same is hereby amended to read as follows. Section 4. That the costs and expenses of making the aforesaid improvement, which is chargeable *and will be assessed to the abutting, adjoining, contiguous approximate property, as set forEkh in Section 3 of ttais Ordinance, shall be payable in ten equal annual instalments, vuhich instalments Shall bear interest at toe rate of seven per cent (7 %) per annum, payable annually. Such assessments shall be known as Special Assessments for Improvements. For the purpose of_ meeting the expense of malting said improvement during the course of its oonutruotion warrants shall be issued against the fund of said district, payable to the contractor or other proper person, upon estimates of the City Engineer, which warrants shall bear interest at the rate of seven per Bent (7 %) per annum frsm date thereof until redeemed, and which warrants shall be redeemed and retired by the proceeds from the sale of the bonds of said district, which bonds'shall be issued in the name of the munioipality, and shall be pay- able, by their terms, in equal annual amounts beginning one year and ending ten years after date and shall bear interest at the rate of 1% per arum, payable annually. Suoh bonds shall not be issued in excess of the contract price and expense of such improvement, including engineering and other clerical services, advertiaiag, cost of inspection, cost of collecting assessments and interest upon warrAnts; said bonds shall be numbered consecutively from one up and shall be in the denomination of $5000, except bond Noe 1 which may be for such odd amount less than 050O.as may be necessary and propene Coupons shall be attached to said bonds for each annual instalment of interest; said bonds and coupons shall be signed by the mayor, countersigned by the City Sreasurer and attested by the City Clerk. Provided, however, that such coupons may, in lien of being signed as aforesaid, have printed thereon the facsimile of the signatures of such-Offioers, and each bond shall have the seal of the cit1f affixed thereto and shall refer to the Improvement District for the payment of which the some is issued, and shall provide that the principal sum therein named and the interest thereon shall be payable out of the Local Jdiprovement Fund of said district and not otherwise, and there is hereby created in the City treasury a special fund to be known as Local Improvement District No, E Fund, which is hereby created for the payment of the cost and expense of such improvement, and all assessments which shall be levied for the payment of the cost and expense of said improvement shall, as collected, be immediately paid into said fund, and no portion of said fund shall, so long as any of the bonds of said district shall remain outstanding aril unpaid, be used for any other purpose than for the payment of the prin- t cipal and interest of said bonds. The holders of said bonds shall have no claim therefor stainst the city except from the collection of the special assessment made for the improvement for which said bond was issued, but his remedy, in case of non - payment, shall be confined to the enfor6emant of such assessments, and a copy of Section 98 of Chapter 152 of the Compiled haws of Idaho shall be plainly written, printed or engraved upon the face of each bond so issued. Alt assess- ments which shall be levied against the lands in said local Improvement district shall become a lien upon the lots, tracts or parcels of land against which the same are levied respectively, which lien shall take precedence over all other liens and may be foreclosed in accordance with the provisions of the Compiled haws of Idaho. Whenever there shall be sufficient money in the fund of said District over and above the amount sufficient for the payment of interest on all unpaid bonds of said District, to pay the principal of one or more bonds, the Treasurer shall call - in and pay such bonds in their numerical order, lowest numbers first, which call shall be made by publication in the City Official Newspaper, and shall state the bond numbers so c called for payment will be paid on the day the next interest coupons on said bonds shall become due Interest upon said bonds so called shall cease upon such call date. Section 2. That Section 5 of Ordinance No. 312 of said City be amended to read as follows: Section 5. That as soon as said improvement shall have been completed the Committee on streets, together with the City Engineer, shall determine the amount of the cost and expense of said improvement to be assessed upon the abutting, contiguous and tributary lots and lands included in said district, shall make out an assessment roll socord- ing to law and the provisions of this Ordinance and shall certify the same to the City Council. The total cost and expense of said improvement to be so assessed shall be div- ided into ten UO) equal instal mentse Said assessment roll shall be certified and filed with the City Council and not- ice of hearing hereon shall be given and hearing had there- on as provided by Chapter 152 of the Compiled Laws of Idaho, and following such hearing the City Council shall pass an order approving and confirming such assessment roll as originally filed or as corrected by them, and their decision and order shall be a final determination of the regularity, validity and correctness of said assessment to the amount thereof levied on each lot and parcel of land, subject only to appeal as provided in said Chapter 152 of the Compiled Laws of Idaho, and annually thereafter time Council shall levy special assess- ments against the property in said district sufficient to re- deem the bonds of said district neat maturing, together with in- terest neat falling due upon all bonds of said district then out- standing; such assessment shall be made upon the property charge- able for the cost of such improvements respectively, and the basis upon which the first instalment of assessment is levied shal]be retained for the assessment of suoeeding instalments. Y �'f Section 3. That section 6 of said Ordinance &o. 312 shall be and the same is hereby amended to read as follows: Section 6. That said Comttee on Streets, the City Bngineer and the City Council shall be governed in the preparation, approval and confirmation of such assessment rolls by the provisions of Chapter 152 of the Compiled laws of Idaho and by the provisions of this Ordinance. Section 4. That Section 7 of *aid Ordinance 312 be and the some is hereby amended to read as follows: Section 7. All ordinances, Resolutions, or parts thereof, in conflict herewith are hereby repealed, rescinded and annulled. Section 5. This ordinance shall be in force end effect from and after its passage, approval and publication according to law. Passed by the City Council and approved - this day of Sept. 19190 Off ��!F,2'mrpo! A; F , Attest: Cit Jerk Published