HomeMy Public PortalAboutOrd. 692 - LID #5 Amending Ordinance No 667ORDINANCE NO. 692
AN ORDINANCE OF THE CITY OF MCCALL, IDAHO, AMENDING ORDINANCE
NO. 667, ADOPTED ON JULY 14, 1994, TO REVISE THE DESCRIPTION AND
ESTIMATED COST OF THE IMPROVEMENTS IN LOCAL IMPROVEMENT DISTRICT
NO. 5 AND TO PROVIDE FOR THE ISSUANCE OF INTERIM WARRANTS FOR LOCAL
IMPROVEMENT DISTRICT NO. 5 IN THE AMOUNT OF THE REVISED ESTIMATED
COST AND PROVIDING AN EFFECTIVE DATE
WHEREAS, the City Council (the "Council") of the City of
McCall, Idaho (the "City"), heretofore, by the adoption of
Ordinance No. 667 on July 14, 1994, created Local Improvement
District No. 5 ("L.I.D. No. 5") for the purpose of financing the
cost of certain water and sewer improvements; and
WHEREAS,pursuant to Resolution No. 25-95, adopted on
October 26, 1995, the Council expressed its intention to amend
Ordinance No. 667 in order to revise the description and estimated
cost of improvements within L.I.D. No. 5 and duly called, noticed,
and held, on December 7, 1995, a hearing on the question of making
said amendments; and
WHEREAS, the Council has determined that it is in the best
interest of L.I.D. No. 5 and the property included therein to amend
Ordinance No. 667.
NOW, THEREFORE, BE IT ORDAINED BY THE MAYOR AND COUNCIL OF THE
CITY OF McCALL, IDAHO, as follows:
Section 1: That Section 3 of Ordinance No. 667, adopted on
July 14, 1994, be, and is hereby amended to read as follows:
SECTION 3: A description of the improvements to be
constructed (the "Improvements") is. as .follows:
installation of domestic water service improvements,
.including water mains, valves, hydrants, and connections;
installation of sanitary sewer service. improvements,
including sewer mains, pressure lines, connections, lift
station and wet well: and storm water drainage
improvements consisting of 36-inch storm water drainage
pipe and necessary appurtenances; together with related
improvements and costs of engineering, legal services,
publication, interest on borrowed funds during
construction, bond issuance costs and reserves, .and other
related expenses.
Section 2: That Section 6 of Ordinance No. 667, adopted on
July 14, 1994, be, and is hereby, amended to read as follows:
SECTION 6: The estimated cost of the Improvements
is $225,500 $300,000, all of which will be paid by a levy
of assessments on the property benefited on the basis set
forth in Section 4 of this Ordinance. Said assessments
may be paid in annual installments of principal and
interest, over a period which may be less than but which
shall not exceed ten (10) years, as shall be determined
by the Council, if not otherwise paid as provided by law.
Section 3: That Section 9 of Ordinance No. 667, adopted on
July 14, 1994, be, and is hereby, amended to read as follows:
SECTION 9: For the purpose of paying any
contractor for the cost of the. Improvements for
L.I.D. No. 5, or otherwise defraying any of the costs of
the Improvements as they become due, the Mayor, the City
Treasurer, and the City Clerk are hereby authorized and
directed tocause to be issued, sold, and delivered, on
behalf of the City, interim warrants of L.I.D. No. 5,
which warrants shall be in such form and .amounts (not
exceeding, in the aggregate, $225,000 $300,000) as the
Council may hereafter provide by resolution, which
warrants shall be redeemed and paid in full, together
with any accrued and unpaid interest thereon, from the
proceeds of the sale of the bonds or the prepayment of
assessments of L.I.D. No. 5. The first proceeds of the
prepayment of assessments and the sale of Local
Improvement District No. 5 bonds are hereby pledged for
the payment and redemption of the principal and interest
on each interim warrant issued pursuant hereto.
Section 4: This Ordinance shall be published once in the
official newspaper of the City and shall take effect and be in full
force immediately upon its passage, approval, and publication.
DATED this 7-day of December, 1995.
CITY OF McCALL
Valley. County, `Idaho
By
ATTEST:
_ct,v A, klem,
Mayor
City of McCall
Certificate of Recording Officer
State of Idaho )
County of Valley )
I, the undersigned, the duly appointed, qualified, City Clerk of the City of McCall, Idaho, do hereby
certify the following:
1. That pursuant to the provisions of Section 50-207, Idaho Code, I keep a correct journal of the
proceedings of the Council of the City of McCall, Idaho, and that I am the statutory custodian of all laws,
ordinances and resolutions of said City.
2. That the attached Ordinance No. 692 is a true and correct copy of an ordinance passed at a
regular meeting of the Council of the City of McCall held on December 7, 1995, and duly recorded in my office;
and
3. That said regular meeting was duly convened and held in all respects in accordance with law and
to the extent required by law, due and proper notice of such meeting having been given; that a legal quorum was
present throughout the meeting and that a legally sufficient number of members of the Council voted in the proper
manner and for the passage of said ordinance; and that all other requirements and proceedings incident to the
proper adoption and passage of said ordinance have been duly fulfilled, carried out and observed; and that I am
authorized to execute this certificate.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official seal of the City of McCall,
Idaho this l lth day of December 1995.
James H. Henderson, City Clerk