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Home My Public Portal AboutResolution 19-89 Approving a summary of ordinance no. 554 for publication ^ r RESOLUTION NO. n vet A RESOLUTION OF THE CITY OF McCALL, IDAHO, APPROVING, PURSUANT TO SECTION 50-901A, IDAHO CODE, A SUMMARY OF ORDINANCE NO. 554 FOR PUBLICATION WHEREAS, the City of McCall, Valley County, Idaho (the "City") , on July ly, 1989, adopted Ordinance No. 554, authorizing the issuance and sale of revenue bonds in the principal amount of $450, 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 McCALL, IDAHO, as follows: Section 1: That the summary of Ordinance No. 554, adopted by the McCall City Council on July 10, 1989, 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 1'fth day of July, 1989 . CITY OF McCALL Valley County, Idaho 51e2 Qayor ) ATTEST: 4411110( 0°°!rr Ci, Clerk ( S E A L ) Publisher 's Affidavit of Publication STATE OF IDAHO. .. authorized,by IRESOLUTION NO. 19-89 to publish j I. .SS A RESOLUTION OF THE.CITY OF ummarY McCALL, IDAHO, APPROVING, PURSUANT TO SECTION 50-901A, ISOLVED QTY 01 County of Valley IDAHO CODE, A SUMMARY OF ORDINANCE NO. '554 FOR of I, Maggie Aganew,being duly sworn and say, I am the receptionist of PUBLICATION. summary WHEREAS,the City of McCall,Valley ` by the McCall. The Central Idaho Star-News,a weekly newspaper published at McCall, in the County, Idaho (the "city'), on July 14, I ,1989, a copy of 1 County of Valley, State of Idaho; that said newspaper is in general circulation •1989, adopted Ordinance No. 554, Hexed hereto as authorizing the issuance and sale of the same is hereby in the county of aforesaid and is a legal newspaper;that the RESOLUTION# i revenue bonds in the principal amount of, 19-89, a copy of which is enclosed hereto and is a part hereof,was published _ /Resolution shall take. in said newspaper once a week for one consecutive week in the regular and once from and after its entire issue of every number there of during the period of time of publication, 64th day of July,1989. val. and was published in the newspaper proper and not in a supplement;and that BALL,Valley County,Idaho,. publication of such notice began 19, 1989, and ended 19, 1989. kvlayor July July it.Schmidt,City Clerk 'ARY OF ORDINANCE NO. f 554 —222Subscribed a d sworn before me this the 28th day of September, 1989. ,Q ORDINANCE OF THE CITY OF'ALL,IDAHO, AUTHORIZING THE SUANCE AND SALE OF REVENUE t,ONDS IN THE PRINCIPAL AMOUNT OF j STATE OF IDAHO !$450,000 TO,P f,�' �` .COST OF i nf ��y's" �' rON OF , 1 ep tc �ic oo O Gia, COUNTY OF VALLEY = . Q- 78.. . o o ti ��o 1 it,n I W��e 5 v U y Sia e1 On this 28th day of September, in the year of 1989, before me,a �'',•;0 T \P‘. Q co Notary Public,personally appeared Maggie Aganew, known or identified to me ,c4-0 Io -0 o to be the person whose name subscribed to the within instrument, and being N �'a A� �d u by me first duly sworn,declared that the statements therein are true, and ac- �`3 t .2" Ic3xg. kn s a g knowledged to me that she executed the same. a N to 0v) G ','' Ar-r/1774 Tom Grote Notary Public for Idaho Residing at McCall, Idaho Commission Expires: 1993 7,47.zzLi kese�lsrabilit.seveP tonflicttng • Authpn,�s the issuance of�tZut U1011 hOte8 1 t SUMMARY OF Ull gl� ORDINANCE NO. 554 6 idiva .ale, The full text of Ordinance No. 554 is available at City Hall and will be provided OF THE CITY OF McCALL, IDAHO, AUTHORIZING THE to any person upon personal request during normal office hours. ;ALE OF REVENUE BONDS IN THE PRINCIPAL AMOUNT OF DATED this 14th day of July,1989. �Y THE COST OF CONSTRUCTION AND INSTALLATION OF CITY OF MC CALL,V alley County,Idaho, John Allen,Mayor,ATTEST, A. Schmidt, ' GOLF COURSE IMPROVEMENTS; DESCRIBING SAID BONDS; 1 City Clerk,. CERTIFICATION ER�und rs g eOF City A ty ATTORNEY DATE, FORM, MATURITIES, REGISTRATION, AND AUTHEN- legal advisor to the Ctty of McCall;valley ID BONDS; FIXING THE MAXIMUM RATE OF INTEREST ON County;Idaho,hereby certify that I have road and attached summary of Ordinance read THE DATE, TIME, AND PLACE OF SALE OF SAID 1 No.554 of the City of McCall and that the '1G FOR THE COLLECTION AND DISPOSITION OF REVENUE; same is true and complete and provides I ' adequate notice to the public of the JNDS AND ACCOUNTS; PROVIDING FOR THE PAYMENT OF THE E contents of said ordinance. ! AND INTEREST ON SAID BONDS• PROVIDING OTHER Dated this 14th day of July, 1989. Robert H.Remaklus,,City Attorney , PROVIDING FOR OTHER MATTERS RELATING THERETO h7/1A summary of the principal provisions of Ordinance No. 554, of the City of McCall, Valley County, Idaho, adopted on July 101., 1989, is as follows: Section 1: Defines the terms and phrases used in said Ordinance. Section 2 : Describes the public golf course improvement project. Section 3 : Describes and authorizes the issuance of the "City of McCall Recreational Revenue Bonds, Series 1989" (the "Bonds") , in the aggregate principal amount of $450, 000, provides for a schedule of maturities of the principal amount of the Bonds, and fixes the maximum net effective interest rate on the Bonds. Section 4 : Provides for the place and manner of payment of the Bonds. Section 5: Provides for the manner of execution and authen- tication of the Bonds. Section 6: Appoints the Corporate Trust Department of West One Bank, Idaho, N.A. , Boise, Idaho, as Bond Registrar, and provides for the system of registration of the Bonds. Section 7: Provides for defeasance and redemption of the Bonds. Section 8 : Establishes September 14, 1989, at 7:00 P.M. , as the date and time for the opening of bids on the Bonds. Page 1 - EXHIBIT "A" Section 9: Approves a Notice of Sale of the Bonds and provides for publication thereof. Section 10: Provides for golf course fees and charges. Section 11: Pledges the net revenues of the public golf course facility for payment of the Bonds. Section 12 : Establishes the "City of McCall Golf Course Capital Improvement Fund. " Section 13 : Establishes the "City of McCall Golf Course Revenue Fund" and provides for the priority of payments of the revenue from the public golf course. Section 14 : Establishes the "City of McCall Recreational Revenue Bond Fund. " Section 15: Establishes the "City of McCall Recreational Revenue Bonds, Series 1989, Debt Service Reserve Fund. " Section 16: Provides for the use of surplus funds. Section 17: Establishes the conditions for and limitations on the issuance of additional bonds or parity obligations. Section 18 : Provides for investment of surplus funds. Section 19: Provides certain covenants of the City with the registered owners of the Bonds. Section 20: Provides certain special covenants of the City with respect to the tax-exempt status of the Bonds. Section 21: Provides for the manner of amending or supplementing the Ordinance. Section 22 : Recites that the Bonds are issued pursuant to the Idaho Revenue Bond Act. Section 23 : Provides for remedies in case of default. Section 24: States that the Ordinance constitutes a contract with the registered owners of the Bonds. Section 25: Declares the construction of the project and the issuance of the Bonds therefor to be in the best public interest. Section 26: Provides for severability. Section 27: Repeals conflicting ordinances. Page 2 - EXHIBIT "A" N Section 28 : Authorizes the issuance of bond anticipation notes. Section 29 : Provides for publication and effective date. The full text of Ordinance No. 554 is available at City Hall and will be provided to any person upon personal request during normal office hours. DATED this , th day of July, 1989 . CITY OF McCALL Valley County, Idaho mM or ATTEST: liz C ' y Clerk CERTIFICATION OF CITY ATTORNEY I, the undersigned City Attorney for and legal advisor to the City of McCall, Valley County, Idaho, hereby certify that I have read the attached summary of Ordinance No. 554 of the City of McCall and that the same is true and complete and provides adequate notice to the public of the contents of said Ordinance. Dated this / day of July, 1989 . Robert H. Remaklus City Attorney Page 3 - EXHIBIT "A"