HomeMy WebLinkAboutORD 892e
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BILL NO.IQ
ORDINANCE NO.892
BY COUNCILMAN Blomquist
AN ORDINANCE AMENDING AN ORDINANCE ENTITLED "AN ORDINANCE AUTHORI
ZING THE ISSUANCE OF $750,000 WATER AND SEWER REVENUE BONDS OF THE
CITY OF CALDWELL FOR THE PAYMENT OF THE COST OF ACQUIRING THROUGH
PURCHASE AND CONSTRUCTION A SEWAGE TREATMENT PLANT AND EXTENDING THE
MUNICIPAL WATER SYSTEM AND SEWAGE COLLECTION SYSTEM,PROVIDING FOR
THE PAYMENT OF SUCH BONDS AND THE SALE AND DELIVERY THEREOF,AND
MAKING CERTAIN COVENANTS AND AGREEMENTS WITH RESPECT TO THE SECURITY
AND PAYMENT FOR SUCH BONDS.
WHEREAS on June 11,1956,the City Council of the City of
Caldwell,Canyon County,Idaho,adopted an ordinance entitled:
"AN ORDINANCE authorizing the issuance of
#750,000 Water and Sewer Revenue Bonds of
the City of Caldwell for the payment of
the cost of acquiring through purchase and
construction a sewage treatment plant and
extending the municipal water system and
sewage collection system,providing for
the payment of such bonds and the sale and
delivery thereof,and making certain coven
ants and agreements with respect to the
security and payment for such bonds."
and
WHEREAS it has been deemed desirable by both the City
Council and the purchasers of said bonds that the place of payment
for said bonds be changed to "The Idaho First National Bank",in the
City of Caldwell,Idaho;
NOW,THEREFORE,Be It Ordained by the Mayor and Council of
the City of Caldwell,Canyon County,Idaho,as follows:
Section 1.That Section 3 of the ordinance adopted by the
Mayor and Council of the City of Caldwell on June 11,1956,referred
to in the preamble hereto,is hereby amended to read as follows:
"Section 3»That said bonds shall be designated
'Water and Sewer Revenue Bonds,'shall be in the total
principal amount of #750,000,shall be dated July 1,
1956,shall be in the denomination of $1,000 each,shall
be numbered 1 to 750,inclusive,and shall bear interest
at a rate or rates not in excess of four per cent (4$)
per annum as may be determined by resolution to be adopted
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at or after the time said bonds are sold at public
sale in the manner hereinafter provided,payable semi-
annually on the first days of January and July of each
year.The bonds shall be payable as to both principal
and interest in lawful money of the United States of
America at The Idaho First National Bank,in the City .
of Caldwell,Idaho,and shall mature serially in numer
ical order on July 1 of each of the years as follows:
Bond Numbers
1 to 25
26 to 50
51 to 75
76 to 100
101 to 125
126 to 150
151 to ISO
181 to 210
211 to 240
241 to 270
271 to 300
301 to 330
331 to 365
3o6 to 400
401 to 435
436 to 470
471 to 505
506 to 545
546 to 5^5
5^6 to 625
626 to 665
666 to 705
706 to 750
Amount
$25,000
25,000
25,000-
25,000
25,000
25,000
30,000
30,000
30,000
30,000
30,000
30,000
35,000
35,000
35,000
35,000
35,000
40,000
40,000
40,000
40,000
40,000
45,000
Year
1959
I960
1961
1962-
1963
1964
1965
1966
1967
196a
1969
1970
1971
1972
1973
1974
1975
1976
1977
1979
1980
1981
Bonds numbered 211 to 750,inclusive,shall be
callable for redemption at the option of the city in
inverse numerical order on July 1,1966,and on any
interest payment date thereafter at the principal amount
thereof and accrued interest to the date fixed for
redemption plus a premium of $30.00 for each bond so redeemed
on or prior to January 1,1971,$25.00 for each bond so
redeemed thereafter on or prior to January 1,1976,and
$20.00 for each bond so redeemed thereafter prior to maturity
Notice of redemption shall be given not less than
thirty days prior to the date fixed for redemption by
5B.
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filing with the paying agent and publication of an
appropriate notice one time in a financial newspaper
or journal published in the City of New York,New
York."
Section 2j_That all ordinances or orders or parts there
of in conflict herewith are to the extent of such conflict hereby
repealed,and that this ordinance shall be published in one issue of
The News Tribune,the official journal of said city,and shall
take effect and be in full force immediately upon its passage,
approval and publication.
Passed and approved August 6,
Attest:
.(U A>eci ■'i/'-K ■t>",'
City Clerk