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HomeMy Public PortalAbout1967.10.02 Regular Meeting Minutes W McCall, Idaho October 2 , 1967 The City Council of the City of McCall, Valley County, Idaho, met in regular public session at the regular meeting place of the Council in the .City Hall in the City of McCall at 8:00 o'clock P M. on October 2 , 1967. The roll was called and the following found to be present: Ed Sizemore , Mayor A. H. Schaufelberger , Councilman Clyde Archer , Councilman Raymond Mason , Councilman Jon Braden , Councilman Absent: None There was also present William A. Kirk, City Clerk. - _ After the meeting had been duly called to order and the minutes of the preceding meeting read and approved, the following ordinance was introduced in written form by and was read by title. Councilman Archer moved that the rule requiring the reading of the ordinance three different days be dispensed with and the motion was adopted by the vote of not less than three-fourths of the Council, to-wit: Aye: Archer , Councilman Mason , Councilman Schaufelberger , Councilman Braden , Councilman Nay: None. The ordinance was thereupon read three times by title and was read in full, after which, pursuant to motion made by Braden and seconded by Archer , the ordinance was adopted by the following vote: Aye: Archer , Councilman Mason , Councilman 5chaufelberger , Councilman Braden , Councilman Nay: None. The ordinance was thereupon signed by the Mayor in evidence of his approval, was attested by the City Clerk, was ordered recorded, and is as follows : ORDINANCE NUMBER 271 AN ORDINANCE amending paragraph 2 of sub- section K77 Section 9 of Ordinance Number 267 of the City of McCall, Idaho, adopted on August 7, 1967, as amended by Ordinance Number 270 of said city,. adopted on September 19, 1967• BE IT ORDAINED by the mayor and council of the City of McCall, Valley County, Idaho, as follows: Section 1. That paragraph 2 of sub-section K of Section g of Ordinance Number 267 of the City of McCall, Idaho, entitled: "AN ORDINANCE authorizing the issuance of 380,00 ewer Revenue Bonds of the City of McCall for the purpose of providing funds with which to improve and extend the sewerage system of said city, the whole to constitute and be operated as a single pub- lic utility, providing for the payment of such bonds and the sale and delivery there- of, and making certain covenants and agree- ments with respect to the security and pay- ment for such bonds. " which ordinance was adopted and approved by this Mayor and Council on August 7, 19673 as said ordinance was amended by Ordinance Number 270 of said city, entitled: "AN ORDINANCE amending paragraph 2 of sub- section K oF Section 9 of Ordinance Number 267 adopted on August 7, 1967. " be and the same is hereby further amended to read as follows: - 2 - "2. Additional bonds may also be issued on a parity with the bonds herein authorized if all of the following conditions are met: (a) The net revenues for the completed fiscal year immediately preceding the issuance of the additional bonds must have been equal to or greater than the highest combined interest and principal requirements for any succeeding twelve months period on all bonds then outstanding, and the bonds so proposed to be issued, including the then outstanding prior lien bonds and the bonds herein authorized. (b) The payments required to be made into the various funds hereinabove established must be current and not in default. (c) The additional bonds must be payable as to princ- ipal on June 1 of each year in which principal falls due and payable as to interest on June 1 and December 1 of each year. (d) The proceeds of the additional bonds must be used solely for the making of improvements, extensions, renewals or replacements to the system, or for the acquisition or construction of or the making of improvements, extensions, renewals or replacements to a municipal water system. (e) The proceedings authorizing the additional bonds must provide that the amount to which the Reserve Account in the Bond Fund is to be accumulated shall be increased to an amount no - less than the average amount of principal and interest payable from the Bond Fund in any future twelve month period on the bonds then outstanding and the additional bonds . Said proceedings must also require that the rate of accumulation of said Reserve Account be in- creased if and as necessary to achieve the full required - 3 - J accumulation in one hundred twenty months from the issuance of said parity bonds. (f) So long as the Farmers Home Administration of the United States Department of Agriculture holds the bonds herein authorized, written consent must be obtained from the Farmers Home Administration prior to issuing additional bonds on a parity with the said bonds herein authorized. " Section 2: That as amended in accordance with Section 1 hereof, said Ordinance Number 267, as amended by said. Ordinance Number 270, shall remain in full force and effect. Section 3. That all ordinances or parts thereof in conflict herewith are to the extent of such conflict hereby repealed and that this ordinance shall be published in one issue of the Payette Lakes Star, the official journal of the City of McCall, and shall take effect and be in full force immediately upon its passage, approval and publication. Adopted and approved October 2 Attes .7ayor City Clerk (Other business not pertinent to the above appears in the minutes of the meeting.) Pursuant to motion duly made and carried the meeting adjourned. Att Mayor city er 4 - J STATE OF IDAHO COUNTY OF VALLEY I, WILLIAM A . KIRK, do hereby certify that I am the duly qualified and acting Clerk of the City of McCall, Valley County, Idaho. I further certify that the above and foregoing constitutes a true and correct copy of the minutes of a meeting of the Council of said city held on the day of , 1967, and of an ordinance adopted at said meeting, as said minutes and ordinance are officially of record in my possession. IN WITNESS WHEREOF, I have hereunto subscribed my official signature and impressed hereon the seal of said city this : day. of O&rteOa 1967. City Clerk GP/abj 9/28/67 - 5 - J