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Home My WebLink AboutORD 326ORDINANCE NO. AN ORDINANCE AMENDING SECTIONS 4, 5, 6, and 7 of ORDINANCE NO. 313 OF TU, CITY OF CALDWELL, IDAHO, ENTITLED AN ORDINANCE CREATING AND ESTABLISHING A LOCAL IMPROVEMENT DISTRICT TO BE CALLED "LOCAL STREET II PROVEMINT DISTRICT NO. 3 " 1 IN THE CITY OF CALDWELL, CANYON COUNTY, IDAHO; DESIGNATING °THE+' STREETS AND POI 'SITS BETWEEN WHICH SAID I "PROVE» DENTS SHALL BE MADE, AND PROVIDING FOR THE CONSTRUCTION OF PAVEMENT, CURBS, AND GUTTERS THEREON; PROVIDING THAT THE COST AND ZMNSE OF SAID IMPROVEMENT SHALL BE TAXED AND ASSES UPON ALL THE PROPERTY IN SAID IMPROVEMENT DISTRICT FRONTING OR ABUTTING OR CONTIGUOUS OR TRIBUTARY TO THE PORTIONS OF SAID STREETS 30 IMPROVED- AND PRESCRIBING THE METHOD OF SUCH ASSESSMENT AND THE PAYMENT 'THEREOF • REPE'ALING ALL ORDINANCES, RESOLUTIONS OR ORDEBS, OR PARTS THAREOF, IN CONFLICT HERE- WITHI AND DECLARING AN EMERGENCY. Pa.:�sed aild 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. 313 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, *iioh is chargeable and will be assessed to the abutting, adjoining, contiguous or approximate property, as set forth in section 3 of this Ordinance, shall be payable in ten equal annual instalments, which instalments shall bear interest at the rate of seven per cent (7 %) per annuo, payable annually, Such assessments shall be known as Special Assessments for Improvements. For the purpose of meeting the expense of making said improvement during the course of its construction warrants shall be issued against the fund of said district, payable to tie contractor or other proper person, upon estimates of the City Engineer, which warrants shall near interest at the rate of seven per cent (7) per annum from 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 municipality, and shall be pay- able, by their terms, in equal annual amounts Us ginning one year and ending ton years after date and shall bear interest at the rate of 7% per annum, payabl annually. Such bonds shall not be issued in excess Of the contract price and expense of such improvement, including engineering and other clerical services, advertising. 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 $500.00, except bond No, 1 which may be for Such odd amount less than $500*00 as may be necessary and proper* Coupons shall be attached to said bonds for each annual instalment of interest; said bonds and coupons shall be signed by the Mayor, countersigned by the City Treasurer and attested by the City Clark, Provided, however, that such coupons may, in lieu of being signed as aforesaid, have printed thereon the facimile Of the signature of said officers, and each bond shall have the seal of the city affixed thereto and shall refer to the Improvement Bistriot for the Payment of which the same is issued, and shall provide that the principal sum therein named and the inter- est thereon shall be payable Out of the Local Improvement Fund of said district and not otherwise, and there is hereby created in the City treasury a special fund to be known as Local Improvement Dis- triot No. 3 Fund, which is hereby created for the payment of the cost and expense of such improvement, and 811 assessments which shall be levied for the payment Of the cost and expemse of said improvement shall, as collected, be immediately paid into said fund, and no por- tion of said fund shall, 00 long as any of the bonds of said district shall remain outstanding and unpaid, be used for any other purpose than for the payment of the principal and interest of said bonds. The holders of said bonds shall have no claim therefor against the city except from the collection of the special assessment made for the improvement for vibich said bond was issued, but his remedy, in case of non-payment, shall be confined to the enforcement of Such assessments, and a copy of Section 9$ of of Chapter 152 of the Compiled Laws of Idaho shall be plain- ly written, printed or engraved upon the face of each bond so Issued, All assessments which shall be levied against the lands in said local improvement district shall become a lien upon the lots,, tracts or parcels of Ian& against which the same are levied respectively, which lien shall take ppecedenee over al other lions and may be foreolos_ed in accordance with the provisions Of the Compiled Laws of Idaho. Whenever them 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 Diettict 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, thich call shall be made by publication in the City official newspaper, and sbAll state the bond numbers so called for payment will be paid on the day the next interest ouupons on said bonds shall become aue Interest upon said bonds so called shall cease upon such call date. Section 2. That Section 5 of Ordinance No. 313. of said City be amended to read as follows: Section 5, Thalk an soon as said improvement shall have been completed the Comhttes on streets, together with the City Engineer, shall 46termine the amount of the cost and expense of said improvement to be assessed upon the • 9 , . abutting, contiguous and tributary late and lands included in said district, shall make out an assessment roll accord- to law and the provisions of this ordinance and shall cert- ify the same to the City Council. The total cost and ea- pense of said improvement to be e0 assessed shall be divided into ten (18) equal instalments. Said assessment roll shall be certified and filed with the City Council and notice of hearing thereon shall be given and hearing had thereon as provided by Chapter 152 of the Compiled Laws of Idaho, and following such hearing the Catty Council shall pass an order approving and oon- firming such assessment roll as originally filed or as correct- ed by theip, and their decision and order shall be a final det- ermination 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 $he Compiled Laws of Idaho, and annually hhereafter the Coun- cil shall levy special assessments against the property in said district sufficient to redeem the bonds of said district next maturing, together with Interest next falling due upon all bonds of said district then outstanding; such assessment shall be made upon the property chargeable for the cost of such improve- ments respectively, and the basis upon n&ich the first instal- ment assessment is levied shall be retained for the assessment.of succeeding instalments. Section 3. That Section 6 of said Ordinance No. 313 shall Sae and the same is hereby amended to read as follow Section 6. That said Oomittee on Streets, the City Engineer and the City Council shall be governed in the preparation, approval and confirmation of such assessment rolls by the provisions of Chapter 162 of the Compiled Laws of Idaho and by the provisions of this ordinance. Section 4. That Section 7 of Said Ordinance 313 be and the same is hereby amended to read as follows$ Section 7. All Ordinances, Resolutions, or parts thereof, in conflict herewith are hereby repealed, resoinde and annulled. Section b. This Ordinance shall be in force and effect from and after its passage, approval and publication% acearding to law. Passed by the City Council and approved this W of September, 1919. or . Ci y Jerk � Pobilihed / l