HomeMy Public PortalAboutOrd. 630 - Supporting DocsCITY of McCALL
OFFICE OF THE CITY ATTORNEY
POST OFFICE BOX 1065
McCALL, IDAHO 83638-1065
EDWARD G. BURTON, Esq.
City Attorney and
City Prosecutor
208-634-7142 (voice)
208-634-3038 (fax)
FACSIMILE LETTER'
TO: Susan Wiebe Via fax #: 1 (208) 338-8299 4--
cc: Ed Miller 1 (208) 342-8920
Re: Spring Mt. LID Date: May 7, 1993
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Dear Susan (& Ed) :
I have a copy of Ed's fax to you, Susan, about the draft
LID ordinance, and saw his note concerning the City's having the
option to fix the amortization term ("Owner needs some say...").
Our concern is that the term of the amortization of the LID
bonds is going to be market -driven, and the City must under no
circumstances guarantee any particular amortization for fear of
becoming the bond -buyer of last resort.
The draft ordinance's findings about the valuation of the
property of course reflects the statutory precondition to the
validity of the LID. Ed expressed doubt. about that finding.
I do not think that that finding controls the ultimate assessment
roll, which I would assume is his concern; am I right?
cc: jt,?-.)..r-
ministrator
•
Very truly yours,
CITY OF McCALL
Edward G. Burton
City Attorney and Prosecutor