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HomeMy Public PortalAboutRES1993-01_Summary of Ordinance 54_10031992 RESOLUTION NO. 93-1 A RESOLUTION OF THE CITY OF IONA, IDAHO, APPROVING, PURSUANT TO SECTION 50-901A, IDAHO CODE, A SUMMARY OF ORDINANCE NO. 54 FOR PUBLICATION WHEREAS, the City of Iona, Bonneville County, Idaho (the "City") , on October 3, 1992, adopted Ordinance No. 54, ordering a special bond election on the question of the issuance of revenue bonds in the principal amount of not to exceed $300, 000; and WHEREAS, the City is authorized, by Section 50-901A, Idaho Code, to publish, in lieu of the entire ordinance, a summary thereof. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF IONA, IDAHO, as follows: Section 1: That the summary of Ordinance No. 54, adopted by the Iona City Council on October 3, 1992, a copy of which summary is annexed hereto as Exhibit "A, " be, and the same is hereby, approved. Section 2 : This Resolution shall take effect and be in force from and after its passage and approval. DATED this 3rd day of October, 1992. CITY OF IONA Bonnevill County, Idaho /74 e/(10-/ 104- --1-".1--- Mayor ATTEST:_ _ - - /-/ 4//liktil City Clerk ( S E A L ) SUMMARY OF ORDINANCE NO. 54 AN ORDINANCE PROVIDING FOR THE CONSTRUCTION AND INSTALLATION OF IMPROVEMENTS TO THE DOMESTIC WATER SYSTEM OF THE CITY OF IONA, OF BONNEVILLE COUNTY, IDAHO; CALLING A SPECIAL ELECTION FOR THE SUBMISSION TO THE QUALIFIED ELECTORS OF THE CITY THE QUESTION OF THE ISSUANCE OF REVENUE BONDS IN THE AMOUNT OF NOT TO EXCEED $300,000 TO PAY A PORTION OF THE COST THEREOF; ESTABLISHING THE DATE, TIME, AND PLACE OF SAID ELECTION; PROVIDING FOR PUBLIC NOTICE OF SAID ELECTION; AND PROVIDING FOR OTHER MATTERS RELATING THERETO A summary of the principal provisions of Ordinance No. 54 of the City of Iona, Bonneville County, Idaho, adopted on October 3, 1992, is as follows: Section 1: Defines the domestic water system capital improvement project, estimates the total cost at $600, 000, and provides for issuance of revenue bonds, subject to approval of the qualified electors of the City, in the amount of not to exceed $300, 000 to pay a portion of the cost of the Project. Section 2: Provides for a special municipal bond election to be held within the City on Tuesday, October 27, 1992, for the purpose of enabling the qualified electors of the City to vote upon the proposition of issuing revenue bonds. Section 3: Provides that the polls at said election shall open at 12:00 o'clock noon on October 27, 1992, and shall remain open until 8: 00 o'clock p.m. , and provides that the polling place for said special bond election shall be Iona City Hall, 3606 North Main, Iona, Idaho. Section 4 : Provides that the ballot title shall be substan- tially as follows: SHALL THE CITY OF IONA ISSUE AND SELL ITS REVENUE BONDS IN THE PRINCIPAL AMOUNT OF NOT TO EXCEED $300, 000 TO PAY THE COSTS OF IMPROVEMENTS AND BETTERMENTS TO THE CITY'S DOMESTIC WATER SYSTEM, SAID BONDS TO MATURE OVER A PERIOD WHICH MAY BE LESS THAN BUT WHICH SHALL NOT EXCEED TWENTY (20) YEARS AND TO BE PAYABLE SOLELY FROM THE REVENUES OF THE DOMESTIC WATER SYSTEM, ALL AS MORE FULLY PROVIDED IN ORDINANCE NO. 54, ADOPTED ON OCTOBER 3, 1992? Section 5: Provides for payment of election expenses. Page 1 - EXHIBIT "A" Section 6: Defines qualified electors as persons eighteen (18) years of age or older who are registered qualified electors of the City. Section 7 : Provides for registration of voters. Section 8: Provides for preparation of sample ballots. Section 9 : Provides for publication of Notice of Special Bond Election. Section 10: Provides for canvass of votes. Section 11: Provides for Debt Disclosure Statement pursuant to Idaho Code S 34-440. Section 12 : Provides for the issuance of revenue bonds maturing over a period of not to exceed twenty (20) years, and provides for other matters relating to the revenue bonds. Section 13 : Authorizes the officers of the City to take appropriate actions to effectuate the provisions of this Ordinance. Section 14: Ratifies previous actions. Section 15: Provides for publication of a summary of the Ordinance. The full text of Ordinance No. 54 is available at City Hall and will be provided to any citizen upon personal request during normal office hours. DATED this 3rd day of October, 1992 . CITY OF IONA Bonnevill County, Idaho /41/7 4 6/ lies Mayor ATTEST: A'74'14 City Clerk ( S E A L ) Page 2 - EXHIBIT "A" CERTIFICATION OF ATTORNEY I, the undersigned attorney at law, duly licensed in the State of Idaho and legal advisor to the City of Iona, Bonneville County, Idaho, hereby certify that I have read the attached summary of Ordinance No. 54 of the City of Iona and that the same is true and complete and provides adequate notice to the public of the contents of said Ordinance. Dated as of the 3rd day of October, 1992. Attorney at Law Page 3 - EXHIBIT "A"