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HomeMy WebLinkAboutORD 7681 BILL NO. 2 ORDINANCE NO.. 3 BY COUNCILMAN FENRICH 4 i s 9 10 11 12 AN ORDINANCE CONFIRMING THE CREATION AND ESTABLISHMENT OF LOCAL IMPROVEMENT NO. 1$1, FOR THE CITY OF CALDI,fELL, IDAHO; CONFIRMING AND APPROVING THE ASSESSMENT ROLL FOR SAID DISTRICT AS FILED IN THE OFFICE OF THE CITY CLERK ON THE 2ND DAY OF OCTOBER, 1950 AND ACCEPTED, APPROVED AND CONFIRMED BY THE COUNCIL ON THE 16TH DAY OF OCTOBER, 1950; PROVIDING FOR THE PAYMENT IN INSTALLMENTS OF THE COSTS AND EXPENSES OF THE IMPROVEMENTS MADE OR TO BE MADE IN SAID DISTRICT; ASSESSING THE COSTS AND EXPENSES OF SAID IMPROVE - MENTS UPON OR ACROSS THE ABUTTING, ADJOINING, CONTIGUOUS AND ADJACENT LOTS, BLOCKS AND LANDS AND PARCELS OF LAND AND UPON THE LOTS, BLOCKS, LANDS AND PARCELS OF LAND BENEFITED AND INCLUDED IN SAID IMPROVEMENT DISTRICT; PRESCRIBING THE MANNER FOR THE PAYMENT OF SAID ASSESSMENT; PROVIDING FOR THE ISSUANCE OF INSTALL- MENT BONDS OF SAID DISTRICT; PROVIDING THE FORM, MATURITIES, MAXIMUM INTEREST RATE AND ALL OTHER LEGAL REQUIREDENTS RELATIVE TO THE ISSUANCE OF SAID BONDS; WHEREAS, the Mayor and Council of the City of Caldwell, in 14 g o GHQ 15 a 16 17 is 19 20 21 22 23 24 25 26 27 2s the County of Canyon, State of Idaho, pursuant to and in full com- pliance with all legal, requisite, and preliminary proceedings, and pursuant to Ordinance No. 750, passed by the Council and approved by the Mayor on the 1st day of May, 1950, and heretofore created and established LOCAL IMPROVEMENT DISTRICT NO. 18 FOR THE CITY OF CALDWELL, IDAHO, for the purpose of constructing sewers, ditches, drains, conduits, and channels for sanitary and drainage purposes, either or both thereof, with outlets, cesspools, manholes, catch basins, flush tanks, septic tanks and all other sewer appurtenances necessary for the comfort, convenience, health and well -being of the municipality within said district; and WHEREAS, said improvements are to be made and completed in said district pursuant to said proceedings; and, WHEREAS, the Committee on Sewers together with the City Engineer of the City of Caldwell, have heretofore, according to the provisions of Ordinance No. 750 and in all respects according 30 to law and the ordinances of said City, made out and duly certified 31 by the City Council of the City of Caldwell, an assessment roll of, 32 in and for said Local Improvement District No. 18, fixing the total IM 1 2 3 4 5 6 JJ 71 8 9 10 11 12 13 14 o e 16 17 18 19 20 21 22 23 24 25 26 27 26 29 30 31 32 • costs of the improvements to be paid by the owners of property in said district at the sum of Seventy -two Thousand Five Hundred Sixty -four and 70/100 Dollars ( °$ 72,564.70), and assessing said amount against the abutting, adjoining, contiguous and adjacent lots, blocks, lands and parcels of land benefited and included in said improvement district and in proportion to the benefits accru- ing to said property by reason of the improvements for said assess- ment was, and is in all respects duly and lawfully made, and which said assessment roll was heretofore on the 2nd day of October, 1950, duly certified by the City Council of the City of Caldwell, and filed with the City Clerk of said City; and WHEREAS, upon certification and filing of said assessment roll, the City Clerk of the City of Caldwell gave notice by pub- lication in three successive issues of the official newspaper of the City of Caldwell that said assessment roll was on file in her office, giving the date of filing of the same, and stating the time at which the Council would hear and consider objections to said assessment; said notice being given in all respects according to law; and WHEREAS, the time for filing objections and protests having expired and said matter having come on for hearing and consider- ation at the appointed time and place and no objections or protests whatever having been filed in said matter and no one appearing to object to said. assessments or said assessment roll or to any matter in relation thereto; and WHEREAS, said assessment roll having come on regularly for hearing and consideration and the same having been fully and duly considered by the Mayor and City Council of said City, and said assessment roll, together with all the proceedings in making such assessment having been, by said Mayor 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 -2- ill 2 3 4 5 1 6 7 8 9 10 11 12 13 14 15 ��� 16 17 is 19 20 21 22 23 24 25 26 27 28 21 30 31 32 Idaho and the ordinances of the City of Caldwell, said Kayor and Council approved and confirmed said assessments and said assess- ment roll, as more fully appears by order of said City Council in said proceedings; and WHEREAS, notice of time, place and manner of making cash payments was duly given by the Treasurer of the City of Caldwell according to law, to the property owners to be assessed within said district, stating the time for payment to begin, to- wit: the 17th day of October, 1950, and the time for payment to close, to-wit: the 24th day of November, 1950, the last public- ation of said notice, the 23rd day of October, 1950, was not less than thirty days before the issuance of said bonds authorized or to be authorized; which said notice advised said property owners that the owners of any property assessed within said district might pay his assessment in full within the time provided, or before the issuance of said bonds of said district, and redeem his property from such liability; that in response to said notice, payments were made in the sum of Four-teen Thousand One Hundred Fifty-six and 60/100 Dollars (.,')14,156.60); and WHEREAS, in the discretion and opinion of the City Council of the City of Caldwell, the unpaid balance of costs of improvements made or to be made in said Local Improvement District No. 18, which is existing:, and chargeable to the abutting, adjoining, contiguous, adjacent and benefited lots, blocks, lands and parcels of land 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 therefor at one time; and 1THE'l-ZEAS, the City Council of - the City of Caldwell de- sires to issue in the name of said. municipality, improvement bonds of said Local Improvement District No. 18 for the City of Caldwell-, Idaho, to bear the date, the lst day of January, 1951, payable as nearly as may be in ten annual installments of approximately equal -3- I 1 2 3 4 5 6 7 8 9 10 11 12 13 14 0 �� 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 • amounts, each of said bonds maturing annually in the respective years from 1952 to 1961 inclusive; and the City Council of said City of Caldwell considers it advisable to issue said bonds in denominations of Five Hundred Dollars (;500.00) and one bond which may be for such odd amount, not less than One Hundred Dollars ($100.00), as may be necessary and proper, said bonds to be in the sum of Fifty -eight Thousand Four Hundred Eight and 10/100 Dollars (058,40$.10); NOW, THEREFORE, BE IT ORDAINED BY THE MAYOR AND COUNCIL OF THE CITY OF CALDIMELL, IDAHO, AS FOLLOWS: Section 1. That all the proceedings, matters and things heretofore taken, had and done in connection with the creation and establishment of Local Improvement District No. 18 for the City of Caldwell, Idaho, and in connection with the construction therein of the improvements consisting of sewers, ditches, drains, conduits, and channels for sanitary or drainage purposes, either or both thereof, with outlets, cesspools, manholes, catch basins, flush tanks, and septic tanks, the construction of said improvements and the apportionment of the costs and expenses of said improvements against the abutting, adjoining, contiguous, adjacent and benefited lots, blocks, lands and parcels of land of said district as set forth in said,assessment roll be, and the same hereby in all res- pects are fully approved, ratified and confirmed. Section 2. That the unpaid costs and expenses of said im- provements within 't boundaries of said Local Improvement District No. 18 for the City of Caldwell, Idaho, which are chargeable and assessed to the abutting, adjoining, contiguous, adjacent and benefited lots, blocks, lands and parcels of land within the said district shall be paid for in installments as nearly as may be in ten equal annual payments, said installmen is payable as provided by law in each of the years 1952 to 1961 inclusive. Section 3. That there be issued in the name of the City of -4- 14 0 0A 15 E Q 16 o 17 (y Q U 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 • Caldwell, Idaho, improvement bonds of said Local Improvement Dis- trict No. lb for the City of Caldwell, Idaho, in the principal sum of Fifty -eight Thousand Four Hundred Eight and 10 /100 Dollars W58,408.10) which said bonds shall bear the date, the lst day of January, 1951, and shall bear interest at a rate not to exceed five per cent (5;*�) per annum, payable semi - annually on the lst day of July and the lst day of January of each year, said interest to be evidenced by coupons attached to said bonds. Said bonds shall consist of one hundred sixteen (116) bonds in the denomination of Five Hundred Dollars (500.00) each, numbered from two (2 ) to one hundred seventeen (117) inclusive, and one bond in the denom- ination of Four Hundred Eight and 10/100 Dollars 0408.10) numbered one (1), and the total sum and issue of said bonds hereby author- ized shall be payable as nearly as may be in equal annual amounts; said bonds to mature as follows: $4,408.10 in the year 1952; , `)6 000.00 in each of the years 1953, 1954, 1955, 1956, 1957, 195$, 1959, 1960, and 1961. Said bonds and coupons thereto attached shall be payable at the office of the City Treasurer of the City of Caldwell, Idaho, or at The First National Dane: of Caldwell, Caldwell, Idaho, at the option of the Holder; 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 Caldwell, Idaho, affixed thereto; provided however, that all coupons shall, in lieu of being signed, have printed there- on and shall bear the engraved facsimile of the signature of said Mayor, City Clerk and 'the City Treasurer of said City, and when so executed, shall so constitute the binding obligation of said Dis- trict for said interest. Section 4. That said bonds and the coupons thereto attached as authorized by this Ordinance shall be in substantially the fol- lowing form: UNITED STATES OF AMILMICA -5- • OF 1 CITY OF CALD7ELL 3 4 No. 0 Il BOND 00 01 1 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 • COUNTY OF CANYON LOCAL IRIPHOVM•IENT DI3TIUICT IT10. 18 F011 TITS CITY OF CALM'JELL, IDAHO 3500-00 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 Five Hundred Dollars ('"500.00) in lawful money of the United States of Arilerica, on the presentation and surrender of this obligation, on the first day of January, ,�. D. Nineteen Hundred and . with interest thereon from the date thereof until paid at tile rate of - per cent per annum, pay- able serni-annually in like medium on t7e first day of July and the first day of January, 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 the City of Caldwell, Idaho, or at The First National Bank of Caldwell., Caldwell, Idaho, 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 suf- ficient money in the bond fund of such Local Improvement District to pay the principal of one or more bonds of this series, which shall be called and paid in their numerical order. Such call shall be made by publication in the official newspaper on the day follow- ing the delinquency of any Installment of the assessment, or as ' L soon thereafter as practicable . and shall state that the bond. or bonds so called, Living the serial number, will. be paid on the day the next interest coupons on said bond shall become due, and in- terest upon said bonds shall cease upon such date. This bond is one of a series issued for the payment of cost and expense of local improvements in said Local Improvement District No. 18 for the City of Caldwell, Idaho, as authorized by Section 50-2925 of the Idaho Code of the State of Idaho, and all other laws thereunto enablinL 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 act shall have no claim therefore against the municipality by which the sane is issued., except to the extent of the funds created and received by assessments against the property within any local improvement district as herein pro- vided for and to the extent of the local improvement guarantee fund which may be established under Chapter 30 of Title 50 of the Idaho Code of the State of Idaho; but the municipality shall be held res- ponsible for the lai.• „ful levy of all special taxes or assessments herein provided for and for the faithful accounting, settlements, and payments of the special taxes and assessments levied for the payment of the bonds as herein provided for. The owners and holders of such bonds shall be entitled to a complete enforcement of all assessments made for the payment of such bonds. The principal sum herein named and the interest thereon shall be payable out of the local improvement fund created for the paymen of cost and expense of such improvements or out of any "Local Improvement Guarantee Fund” created in accordance with Chapter 30 of Title 50 Idaho Code of the State of Idaho, and not otherwise, -6- 1 2 3 4 5 6 8 9 10 11 12 13 14 0 04 15 e 16 t� 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 This obligation is not to be deemed or taken to be within, or any part of, the limitation imposed by law as to the indebtedness of said city. And it is further certified and recited that the re- quirements of lava have been fully complied with by the proper of- ficers in the issuance of this bond, and the total amount of this issue does not exceed any limit prescribed by law. For the collection of the assessments levied in said Local Improvement District Pao. 18 for the City of Caldwell, Idaho, the said City of Caldwell, County of Canyon, State of Idaho,, hereby pledges the exercise of all lawful corporate powers. IN TESTITKONY WHEREOF, the City Council of the City of Caldwell, Idaho, has caused this bond to be signed by the Yayor of the 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 January, A. D. 1951. ayor ATTEST: a.ty Clerk COUNTERSIGNED: City Treasurer (FORM OF COUPON) No. 0 (January) On the first day of (July ) 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 America, out of the funds collected by special assessments in Local Improvement District No. 18 for the City of Caldwell or out of the "Local Improvement Guarantee Fund" in accordance with Chapter 30 of Title 50 Idaho Code, at the office of the City Treasurer of the City of Caldwell, Idaho or at The First National Bank of Caldwell, Caldwell, Idaho, at the option of the holder, being six month's interest on Local Improvement District No. 18 for the City of Caldwell, Idaho, Improvement Bond, Dated January i 1951. (Facsimile Signature Mayor -7- 1 2 3 4 5 6 7 .. 8 9 10 11 12 13 ].4 p � 15 pa ® 16 17 �h U 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 0 ATTEST: (Facsimile Signature) CitClerk COUNTERSIGNED: _ Facsimile Signature City Treasurer Section 5. That said bonds, 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 asse.ss- ment for such local improvements, and the lien thereby created against the property of such owners assessed as shall not have avail ed themselves of the provisions of law in regard to the redemption of their property from the lien of such assessment, and shall auth- orize the owners and holders of said bonds to receive, sue for and collect or have collected such assessment embraced in any such bond, or through any of the methods provided by law 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 bonds. Section 6. That the whole cost of the improvements made to the local Improvement District No. 18 for the City of Caldwell, Idaho, and the apportionment of the same as set forth in the assess- ment roll made out according to the provisions of Ordinance No. 750 and filed in the Office of the City Clerk on the 2nd day of October, 1950, and confirmed by the Council on the 16th day of October, 1950, is hereby assessed against all the real estate in said district set forth in said assessment roll, which is hereby specifically referred to and made a part hereof, the same as if set forth at length here - in. 10 13 14 0 04 15 �a 16 0 � 17 18 19 20 21 22 23 24 25 26 27 26 29 30 31 32 Section 7. Said installments of assessments shall be payable on or before R'fa.y 1 of each year; the unpaid installments shall bear interest at the rate not to exceed five per cent (5%) per annum, which assessments and interest from the 1st day of January, A. D., 1951, (being the date said improvement district bonds authorized by this ordinance) until the maturity of said bonds, are hereby declared to be a lien in the several amounts assessed against each lot or tract of land hereinbefore specified from and after the date of confirmation of said assessment roll and shall have priority over all other liens except general taxes. Section 8. 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 subsequent installments at the expiration of each year thereafter; provided, that if any installment is not paid within twenty days from the date, said in- stallment shall become due the same shall become delinquent and the City Treasurer shall add a penalty of two per cent (2f) thereto„ Section 9. 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 delinquent, it is hereby declared that all such unpaid installments and the whole assessment made against any property in 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 delinquent on the Local Improvement Installment Docket and shall add to the amount shown on said installment docket a penalty of two per cent (2%) thereon. Section 10. The City Council or other authorized taxing of- ficer of Caldwell shall, for the purpose of ratifying and confirm- ing the assessments hereby made, levy special assessments each year hereafter sufficient to redeem the installment of bonds with interest, next thereafter maturing, as issued pursuant to the pro- 1 2 3 4 5 6 7 8 9 10 11 12 13 14 0 �H8 15 e 16 t7 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 • • visions of this ordinance, and in computing the amount of special assessments to be thus levied against each piece of property liable therefore, interest at the rate of five per cent (5 %) per annum, from the date 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 improve- ments, respectively, and shall be levied and collected in the same manner as prescribed by law for the levy and collection of special assessments for such improvements where no bonds are issued. Section 11. This ordinance shall be in force and take effect from and after its passage, approval and publication according to law. PASSED by the Council the .-?r?--/ day of 195 . tl APPROVED by the Mayor the z , -3d day of 195f . Count AT TEST: ( " ) 4 Cl erk o the City � 11, County of Canyon, State of Idaho, -10- Canyon, State of Idaho.