HomeMy WebLinkAboutORD 562BILL NO I
ORDINANCE NO 562
By SancLmeyer
aem'eo.t ,
A1T ORD11LI OL CONFM% h M CREATINI G LI?D EST B1181-UMIT
/ OF LOC C I T Y Ii1j:PR V V EZ I w T . T T D. RIC NO . 16
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ASSES&Z'NT ROTT FOR 6� ID DISTRICT AS FILED IN ME OF
FICE OF THE CITY Old T`RX 01N THE 13th. D Y OF f 1939,
AND ACCI,Pq-L'�D A ND LPPRUMD .2 1 - M COITtIPu: :D BY THE COUNCIL
ON ME 28th. DAY OF iti,a'MCH, 1939; PROVIDING FOR TIC, Piff —
LYENT, IN INSTALI 'MNTS OF T1 i D L�'L0 S OF � . M
ID_Z'ROTLUZXTa aDB OR i'0 A iAd.6 E !eTT Sz ID DISTRICT;
Y.SSESSING. TFa .i +' COSTS Z1:xPLT\T 6 a OF S<".ID Iiu2ROVIIMTa'S
UPON 'LITD _1CTAI1ST ice: = iBUTTING, .,DTOITTIZTG,, 00ITTIGU01S,
AND iDS C_T- LO'T'S, BLOCBS, AIM LANDS, J UPMT "IRD LOT'S,
BLOCID -dTD L BIT` , FI`T'TED �.a, D IlTCLUDY-D IN SAID I t--
PROVLiZINT DISTRICT, .:2TD PRT.;SCRIBINTC `i'TiE MiNITER FOR TIC`.
COLLECTION Q D PJ1.YLM,I OF 3z,ID e.,SSESS JEFTS; PROVTDrN;•G
FOR T1'3 ISSU.0TC1, OF I43T iLL:, 4 BONDS OF SAID DIST'RIOT;
PRIOCRIBI"ilG TEME FOR11, _STD.
O R I,I;CAL RBI UIRIVM%TS RLLx?TIVF TO THE ISSUANCE OF
SAID B ONDS:
EERY, The Mayor and City Council of the City of
i
Caldaeil, in the County of Canyon, State of Idaho, pursuant to
i
and in full compliance with all legal and reouisite preliminary
proceedings and pursuant to Ordinance Izo. 360 passed-by the
Council and approved by the Idayor on the 17th day of Xebruary,
i
1939, has heretofore created and established LOCH, STR 4I' Lu-
No.
PROV" LbU DIJ /16, for the City of Caldwell, Idaho, for the i
purpose of constructing street improvements therein, consiwtin,
i
of surfacing, grading, and oiling upon the streets in said
District; and
IRFAS, Said iriprovements are to he made and co,apleted
in said District pursuant to said proceedings; and
"MIER�E S, The committee on streets together with the City I
Engineer of said City of Caldwell, have heretofore, according. to
Page 1
the provisions of said Ordinance No- 560,, and in all respects
according to law and the Ordinance of said City, made out and
duly certified to the City Council of the City of Caldwell,
an assessment roll of, in and for said LOMLL STREET I.T
.TX'T DISTRTCT N�o* 15, fixine, the total cost of the improvements
in said District to be paid by the owaners of property in said
District, at the sum of Seven Thousand One Hundred and Three
Dollars and Seventy Cents (Q0103.70) ; and assessing said
amount against the abutting, adjoining, contiguous and adjacent
lots, blocks, lands and parcels of lands benefitted and in-
cluded in said Improvement District, and in proportion to the
benefits accruing to said property by reason of said iffTrove-
ments, ahich said assessment was, and is, in all respects
duly and lawfully made, and which said assessment roll gas
heretofore, on 1,larch 13, 1030 duly certified to the City Council
of the City of Caldwell, and filed with the City Clerk of said
City, and
YLEYMRZ , Upon certification and filing of said aasess-
�nent roll, the City Clerk of the City of Caldwell, gave notice
by publication in three successive issues in the official news-
paper of the City of Caldwell, that said assessment roll was on
file in his office, giving the date of filing the same and
stating the time at which the Council would hee.r and consider
objections to said assessment roll by parties aggrieved by said
assessments; said notice being given in all respects according
to la,�i; and
.JERE3, The tine for filing objections and protests
having expired, the said matter having c-,)---.c on for hearing and
oonsideratiou'at the appointed time and place, and no objections
or protests whatsoever having been filed in said matter and
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no-one appearing to protest or object to said assessments or
said assessment roll, or any matter in relation thereto; and
122, Said assessment roll having come on regular-
ly for hearing and consideration and the same having been
duly and fully considered by 'the Idayor and City Council of
said City, and said assessment roll, together vvrith all the
proceedings in making such assessment having been, by said
ilayor and said City Council, found regular, valid, correct,
equitable, fair, just, proper and in all respects legal and
according to the laws of the State of Idaho and the Ordinances
of the City of Caldwell, said Mayor and Council approved and
confirmed said assessments and said assessment roll, as more
fully appears by Order of said City Council of said proceed-
ings; and
',4HEREA3,,Notice of time, place and manner of making
cash payments was duly Eiven by the Treasurer of the City of
Caldwell, according to lavi, to the property owners to be
assessed Y.-iithin the said. District, stating the time for pay-
ment to begin, to Tit: the 16th day of Lpril, 1939, and the
time for payment to close, to-wit; the 26th day of Lpril,
1939; the last publication of which said Notice, to-vit: the
1st day of Lpril, 1939 ' oas not less than thirty (3o) days be-
fore the issuance of any bonds authorized or to be authorized
to be issued; which said Notice advised said property owners
that the owner of any property assessed within said District
might pay his assessment in full within the time specified, or
before the issuance of bonds of said District and redeem his
property from such liability; that in response of said Notioe
payments were made in the sum of Three Hundred Three Dollars
and fourteen cents (�y303•14); and
Pare 3
1 4M."REAS, In the discretion and opinion of the City
Council of the City of Caldwell, the uirpaid balance of the
coat and expenses of the Improvements made or to be made in
said LOCAL STREjET T-!.1PR0VE DISTRICT No. 16, which is
assessed and chargeable to 'the abutting, adjoining, con;.-
tiguous and adjacent lots, blocks and lands as set forth
in said assessment roll should be provided for and paid in
installments, instead of levying and collecting the. entire
tax . or special assessments, therefore, at one time; and
The City Council of said City of Cal&v7ell,
Idaho, desires to issue in the name of said Municipality,
Improvement bonds of said LOCAL 3TRLET F1,TR0VJ2-iMT\TT DISTRICT
No. 16 for the City of Caldwell, Idaho, to bear the date, the
1st day of August, 1939, payable as nearly as may be in ten
annual installments Of approximately equal amounts, each:
installment of.bonds maturing a=Ually in the respective
years from 1940 to 1949, inclusive, and the City Council of
said City consider it advisable to'issue said bonds in de-.;-
nominations of Five Hundred Dollars (j5O0-OO) and one bond
which may be for such odd amount not less than One Hundred
Dollars (iAOO.00), as may be necessary and proper, said
bonds to be in the sum of Six Thousand Eight Hundred Dollars
and Fifty -six Bents (: '26500.56) . IMV, ITYERIKf ORV-,
Be it ordained by the Mayor and City Council of'the
City of Caldwell, Idaho as follows:
Section I: That all the proceedings, matters and
things heretofore taken, had and done in connection viith the
creation and establishment of LOOLL STREET IVTRO1rM,
DISIRICT No. 16 for the City of'Caldwell, Idaho and in con-
nection with the construction therein of the Improvements
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consisting of surfacing, grading and oiling upon the streets
in said Improvement District, the construction of said Im-
proveiaent3 and the apportionment of the costs and expenses of
said Improvements a.gainst the abuttin adjoining, contiguous
and adjacent lots, blocks, lands and parcels of lands in said
District as set forth in said assessment roll, be, and the
same are hereby in all respects fully approved, ratified and
Confirmed.
Section II: That the unpaid costs and expenses of
said Improvements within the boundaries of said LOCAL OTYEBT
I DISTRICT No. 16 for the City of Caldwell, Idaho,
which are chargeable and assessed to the abutting, adjoining,
contiguous and adjacent lots, blocks, lands and parcels of
lands within the said District shall be paid for in installments
payable as nearly as may be in ten (10) equal annual payments;
said installments payable as provided by law in each of the
years 1940 to 1949, inclusive;
Section III: That there be issued in the name of the
City of Caldwell, Idaho, improvement bonds of said LOCAL 3T_REZT
EIPR0 INT DISTRICT No. 16 for the City of Caldwell, Idaho, in
the principal sura of Six Thousand light Hundred Dollars and
Fifty -six Cents 06800.56), which.said bonds shall bear date
the first day of Zlugust, i.D. 1939, and shall bear.interest at
the rate of six _(6) per centuwi per annum, payable semi-annually
on the 1st day of February, and August, In each year, said
interest to be evidenced by coupons attached to said bonds*
Said bonds shall'consist of thirteen (13) bonds in the denomina-
tion of Five Hundred Dollars (0'500.00) each, numbered from two
(2) to fourteen (14) inclusive, and one bond in the denomination
of Three Hundred Dollars and Fifty-six cents (,300.,56), numbered
Page 5
one Wq-and the total sLm end issue of said bonds hereby
authorized shall be payable as nearly as may be in equal
annual amounts; said bonds to mature as follows:
I
2300.56 in the year 1940; �500.00 in each of the
years 19^l, 1242, and 1243; .00 in each of
the years 1944, 1945, 1946, and 1947; X500*00
each in the Years 1946 and 1949.
Said bonds and the coupons - thereto attached shall be payable
at the office of the City Treasurer of the City of Cald- well.,
Idaho, or at the Chase National Bank in the City of New York,
;Mate of New York, at the option of the holders; said bonds
shall be signed by the mayor and attested by the City Clerk
and counter-signed by the City Treasurer of the City of
Caldviell, Idaho, and each bond shall have the corporate sea!
of the City of Caldwell, Idaho affixed thereto; provided,
however, that all coupons shall, in lieu of beinL� signed
have printed thereon and shall bear the engraved facsimile
of the signature of said Mayor, City Clerk and City Treasurer
of said City, and . so executed shall constitute the bind-
ing obligation of said District for said interest.
Section TV: That said bonds and the coupons thereto
attached as authorized by this Ordinance shall be in substant-
ially the folloiwing form:
MTIMBD STATES OF 21103
S'LANE OF ID12FO
COM OF =ITTON
CITY OF CIM71't(ELL
LOCr.L STREET I M? DISTRICT Fro, 16
FOR TE C Y OF CALMIEUL, !D_-IiO
L';1PROVZA BOND
11 • 0 X500.00
Page 6
The City of Caldwell, in the County of Canyon, State.
of Idaho, for value received, hereby promises to pay to the
bearer the sum.of rive Hundred Dollars (i500.00) in lawful money
of the United States off' America, on the presentation and sur-
render of this obligation, on the first clay of August, fi..D.
Nineteen hundred and , with interest thereon
from the date thereof until paid rate of six per centum
(6 per annLua, payable semi - annually in like medium on. the
first day of February and the first day of August, in each
year, on the presentation and surrender of the proper coupons
hereto attached, both principal and interest payable at the
office of the City Treasurer of Caldwell, or at the Chase
National Bank, in the City of New York, IT. Y•, U. S. ., at the
option of the holder.
This bond is payable on. the date hereinabove specified,
but shall be subject to call at any time whenever there shall be
sufficient money in the bond fund of such Local Street improve-
ment District to pay the principal of one or more bonds of this
series, �:hich shall be called and paid in their numerical order.
Such call shall be made by publication in the official newspaper
on the days followinE; the delinquency of any installment of the
assessment, or as soon thereafter as practicable, and shall state
that the bond or bonds so called, giving the serial number, will
be paid on the day the next interest coupons on said bond shall
become due, and interest Ligon said bonds shall cease upon such
date.
This bond is one of a series issued for the payment of
the cost and expense of local street improvements in said SOC.LL
Sri °P.L;1T I11P :OT a vTT DISTRIC T No • 16 for the City of Caldwell,
Idaho as authorized by Section 19 -2525 Idaho Code = annotated, of
the 6-tate of Idaho, and all other Lacs thereunto enabling, or in
amendment thereof, and in conformity -:with said law it is hereby
recited that; "The holder of any bond issued under the authority
of this w:ct shall have no claim therefor against the municipality
by which the same is issued, except to the extent of the funds
created and received by assessments against the property .within
any local i- rproverzent district as herein provided for and to the
extent of the local improvement guarantee fund which may be
established by any such city under the provisions of this 2-Lot;
but 'the municipality shall be held responsible for the lawful
levy of all special taxes or assessments herein provided for
and for the faithful acco=ting, settlements and payments of
the special taxes and assessments levied for the payment of the
bonds as herein provided far. The owners and holders of such
bonds shall be entitled to 6a complete enforcement of all assess-
ments made for the payment of such bonds'Y.
The principal sum herein named and the interest thereon
shall be payable out of the local improvement fund created for
the payment of the cost and expense of such improvements, or
out of 'the, "'Local Street Improvement District No. In Fund"
created by Ordinance No. 560 and approved by the Tdayor and
Council of the City of Caldwell, Idaho, on 'the 17th day of Feb-
ruar, r, 1930, and not otherwise." This oblie:ation is not to be
deemed or taken to be within, or any zaart of, the li_nitation
imposed by la as to the indebtedness of said city. '.nd it ishSnance€
further certified and recited that all the requirements of lac:
have been fully complied ritia sup the proper officers in the
issuance of this bond, and that the total amount of -this issue
does not exceed any lirait prescribed by Isa or r7_41nances.
Page 7
For the collection of the assessments levied in said
LOCAL ST 112RO7,17TTTI DT,13T ICT No. 16 for the City of Cald-
well, Idaho, the said City of Caldwell, County of Canyon,
State of Idaho, hereby pledges the exercise of all lawful cor
porate powers.
IN TESTE1,101 7:1 The City Council of the City of
Caldwell, Idaho, has caused this bond to be signed by the mayor
of said City, attested by the Clerk thereof under the seal of
said City, and countersigned by the City Treasurer of said City
as of the first day of Lugust, 1939.
ATTE�`�
Mayor
COM
City Treasurer
(FORK OF COUPON)
ITO - 0
(FEERETARY)
On the First day of ( AUGTMT` ) A.D. 19 the City of
Caldwell, in the State of Idaho, will pay to the bearer
Dollars, in lawful money of the
United States of -merica, out of funds collected: by special
assessments in LOCAL STREET ThTlxtOVEIBITT DISTRICT lqo: 16, for the
City of Caldwell, Idaho, or out of the "Local Street Improvement
District No. 16 Fund" created by Ordinance No. 560, at the office
of the City Treasurer of the Gity of Caldwell, Idaho, or at the
Chase National Bank in the City and State of New York, at the
option of the holder, being six months* interest an LOCAL STREBET
-n T DISTRICT No. 16 for the City of Caldwell, Idaho,
Improvement Bond, Dated lugust 1, 1939.
ITO
Page a
(Facsimile Signature)
Mayor
AT=-43T.
(Facsimile SiGnature) ,
City Clerk
COUNTERSIGN ID:
(Facsimile Signature)
City Treasurer
Section V: That said b.onds, when executed shall be
issued to the lawful purchaser thereof, and when so issued
shall transfer to said purchaser, or to any owner or holder
thereof, all the right and interest of the City of Caldwell,
in and with respect to every assessment against the property
in said District liable to assessment for such local improve—
ments, and the lien thereby created against the property of
such owners assessed as shall not have availed themselves of
the provisions of law in regard to the redemption of their
property from the lien of such assessment, and shall authorize
the owners and holders of said bonds to receive, sue for and
collect or have collected such assessment erabraced in any such
bond, or throu��h any of the methods provided by lavi for the
collection of assessments for local improvements and the
City of Caldwell, hereby pledges to such bondholders the
exercise of all lawful corporate powers in the collection of
the assessments levied for the payment of such bonds4
Section VI: 'That the whole cost of the improvements
made in said LOO-41 STRIXT RIPROMZITT DISIRICT No. 16 for the
City of Caldwell, Idaho, and the apportionment of the same
as set forth in the assessment roll made out according to
the provisions of said ordinance No. 560, adopted February 17,
1939, as filed in the office of the City Clerk of the City of
Page 9
Caldwell, Idaho, on the 13th day of L"I'arch, 1939, and confirmed
by the Council on the 28th day of 1-rarch, 1939, is hereby
assessed against all the real estate in said district set
forth in said assessment roll, v is hereby specifically
referred to and made a Dart hereof, the same as if set forth
at length herein.
Section VII: Said installments of assessments shall
be payable on or before December lst in each year and the un—
paid installments shall bear interest at the rate of six (6)
per centum per annum, which assessments and interest, from the
1st day of Lugust, " 1939, (being the date of the said
improvement district bonds authorized by this ordinance) until
the maturity of the installments of said bonds, are hereby de�
a
clared to be /;;lien in the several amounts assessed against
each lot Or tract of land hereinbefore specified, from and
after the date of the confirmation of said assessment roll
and shall have Priority over all other liens except general
taxes.
Section VIII: The first payment Of installments of
assessments shall be due and payable at the expiration of four
months from the date of the bonds herein authorized and sub-
secuent installments at the expiration of each year thereafter;
provided, that if any installment is not paid i twenty (20)
days from the date, said installment shall become due the same
shall become delinquent and the City Treasurer shall add a
penalty of two per cent (2%) thereto.
Section IX: Whenever any installment of an assessment
made for the payment of interest Or Principal of the bonds
herein authorized is not paid when due and shall become de—
linquent, it Is hereby declared that all such Unpaid Install—
ments and the whole assessment made against any property in
Page 10
said improvement district to pay the cost and expense of such
improvements shall be immediately due and payable and delinquent
and the City Treasurer shall forthwith mark the same delinnuent on
the Local Improvement Installment Docket and shall add to the amount
shown on said installment docket a penalty of tvqo per century (2%)
thereon,
Section X� The City Council or other authorized taxing
officers of Galdl, shall, for the purpose of ratifying and con"
f irming, , the assessments hereby made, levy special assessments each
year hereafter sufficient to redeem the installment of bonds rqith
interest, next - thereafter maturing, as issued - oursuant to the - oro-
11sions of this ordinance, and in cora puting the mount of sT)eoial
assessments to be thus levied against each piece of property liable
therefore, interest at the rate of six per century (G%) per annum,
from the (";ate of.the issuance of said bonds next thereafter matur-
ing shall be Included in such levies. Such assessments shall be
made upon the property chargeable for the cost of such improvements,
respectively, and shall be levied and collected in the same manner
as prescribed by law for the levy and collection of special' assess-
ments for such improvements where no bonds'are issued.
Section XI: This ordinance shall be in force and take
effect from and after its passage-, approval and publication accord-
inE to law.
Passed by the Council the day of 14,/ 1 #1
44-V
Approved by the Mayor the d ay o
'Ilcr J , I
j, or ire t�i or Ua
County o4,Canyon, State of Idaho
21�3f:
0. R- FRITT6
Mrk oz the 7.ty oT
County, of Canyon, State of Idaho
Page 11