Loading...
HomeMy Public PortalAboutMinutes_CCWorkMeeting_10031992CITY COUNCIL WORK MEETING OCT. 3, 1992 AT 9:00 PM Present: Craig Rockwood, Dave Huntsman, Deb Sorenson. Discussed the latest update of water project map. Dave Huntsman motioned and Deb Sorenson seconded to suspend the rules and read Ordinance #54 by title only 3 times. All were in favor. Dave Huntsman motioned and Deb Sorenson seconded to adopt Ordinance #54 which outlines the City's plan to up grade and make improvement to our water system along with a new well. As per City Council's instructions to be designed by engineer and not to exceed $300,000 to be payed by citizens of Iona. Also, covered election procedures for special Bond election on Oct. 27, 1992. All were in favor. Deb Sorenson motioned and Dave Huntsman seconded to adopt Resolution 93-1 by title only. For description see copy of resolution attached to these minutes. All were in favor. Deb Sorenson motioned and Dave Huntsman seconded to adopt Resolution 93-2 by title only. Setting for the hiring of legal council. See attached form. All were in favor. Discussed the intent of holding our Oct. Council Meeting on Oct. 22, 1992 at 8:00 pm and a Public Hearing on our water project at 7:00 pm on Oct. 22 also. Dave Huntsman motioned and Deb Sorenson seconded to accept Draney, Searle & Townsend to complete Attorney's Financial 1991- 92 audit. All were in favor. 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 Bonnevillie County, Idaho Mayor ATTEST: 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 § 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 Mayor ATTEST: i 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. ;- C ( Attorney at Law Page 3 - EXHIBIT "A" ei) RESOLUTION NO. 93-2 A RESOLUTION OF THE CITY OF IONA, BONNEVILLE COUNTY, IDAHO, APPROVING AN AGREEMENT FOR BOND COUNSEL SERVICES AND AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE THE SAME WHEREAS, the City of Iona, Bonneville County, Idaho (the "City"), has determined to conduct a special bond election on October 27, 1992, on the question of authorizing the City to issue its revenue bonds in the amount of not to exceed $300,000 for the construction and installation of improvements and betterments to the domestic water system of the City and costs incidental thereto; and WHEREAS, the City is desirous of retaining Michael C. Moore, of the law firm of Davis Wright Tremaine, of Boise, Idaho, as bond counsel to the City for services in connection with said special bond election and the issuance, sale, and delivery of revenue bonds. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF IONA, IDAHO, as follows: Section 1: The Agreement for Bond Counsel Services between the City and Michael C. Moore, of the law firm of Davis Wright Tremaine, of Boise, Idaho, a copy of which agreement is annexed hereto and by reference made a part hereof, is hereby approved, and the Mayor and City Clerk are hereby authorized and directed to execute the same on behalf of the City. 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. ATTEST: l/ /1t City Clerk CITY OF IONA Bonneville County, Idaho By %z, LAVA? Mayor AGREEMENT FOR BOND COUNSEL SERVICES THIS AGREEMENT, made this 3rd day of October, 1992, between the City of Iona, Bonneville County, Idaho (the "City"), and Michael C. Moore, of the law firm of Davis Wright Tremaine, 702 W. Idaho Street, Suite 700, Boise, Idaho 83702 ("Bond Counsel"). Section 1: PURPOSE OF EMPLOYMENT The City hereby employs Bond Counsel to perform and render legal assistance and advice relative to the authorization, issuance, sale, and delivery of revenue bonds (the "Bonds") of the City to be issued for the construction and installation of improvements and betterments to the City's domestic water system, and costs incidental thereto. Section 2: BOND COUNSEL SERVICES Bond Counsel shall be primarily responsible for rendering the following legal services: (a) Advise the City concerning the legal requirements applicable to the issuance and sale of the Bonds. (b) Provide representation of Bond Counsel, when requested by the City, at all meetings and hearings held by the City in connection with the issuance and sale of the Bonds. (c) Prepare all ordinances, resolutions, notices, and any other legal documents necessary for the proper conduct of proceedings, including election proceedings, for the authorization, issuance, sale, and delivery of the Bonds. (d) Provide such legal guidance and assistance, supervision and consultation, conduct such proceedings, and provide such opinions, as may be appropriate. (e) Prepare such notices of public sale of the Bonds as may be appropriate. (f) Supervise the printing and delivery of the Bonds to purchaser and prepare all necessary closing documents. Page 1 (g) Assemble and examine a transcript concerning all proceedings taken in connection with the issuance and sale of the Bonds. (h) Upon completion of the proceedings to Bond Counsel's satisfaction, provide its legal opinion stating that the proceedings had for the authorization and issuance of the Bonds are lawful and valid, that the Bonds are valid and lawful special obligations of the City, and that interest on the Bonds is excluded from gross income for the purposes of federal and State of Idaho income taxation. Section 3: COMPENSATION For rendering the services set forth in Section 2 hereof, Bond Counsel shall receive from the City compensation in the amount of THREE THOUSAND AND 00/100 DOLLARS ($3,000.00). Said compensation shall be paid solely from the proceeds of such Bonds, when available, and shall be due following delivery of the Bonds. Bond Counsel shall also be reimbursed for direct out-of-pocket expenses, including necessary travel expenses incurred in attending meetings conducted by the City or other meetings relating to the Bond proceedings, as well as long distance telephone, special messenger or air courier service, and telecopying and photocopying expenses incurred in performance of its duties hereunder. In the event the Bonds are not issued, sold, and delivered, Bond Counsel will be reimbursed only at the hourly rate normally charged by Bond Counsel for services actually rendered (with a maximum of $500 total fee), and for direct out-of-pocket expenses incurred. Section 4: ADDITIONAL SERVICES Services in addition to Bond Counsel responsibilities provided for in Section 2 above may be performed by Bond Counsel upon specific direction of the City. For such additional services, including, but not limited to, any litigation services, Bond Counsel shall be compensated separately, and shall account and bill for such services separately at the hourly rate normally charged by Bond Counsel for the service of the attorneys performing such work. Page 2 IN WITNESS WHEREOF, the parties hereto have executed this contract the day and year first above written. CITY OF IONA Bonneville County, I aho Mayor ATTEST: 41441 ?- 7144,1 City Clerk DAVIS WRIGHT TREMAINE By a- . Michael C. Moore Page 3 . G` 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 WHEREAS, the City of Iona (the "City") is a municipal corporation duly organized and operating under the laws of the State of Idaho; and WHEREAS, the City owns and operates a domestic water distribu- tion system and collects rates, fees, and charges for the use of said system; and WHEREAS, it has been determined by the City Council of the City (the "Council") to be necessary and essential to the health, safety, comfort, and welfare of the inhabitants of said City to install, construct, and acquire improvements and betterments to the domestic water system within said City; and WHEREAS, the Council has determined to finance a portion of the cost of the construction and installation of said improvements through the issuance of revenue bonds of the City, pursuant to the provisions of the Revenue Bond Act of the State of Idaho, being Sections 50-1027 to 50-1042, inclusive, Idaho Code; and WHEREAS, said revenue bonds cannot be issued without the assent of a majority of the qualified electors of the City voting in an election called for such purpose; and WHEREAS, in order to authorize such revenue bonds, the Council has determined to call and conduct a special municipal bond election for the aforesaid purposes as required by said Revenue Bond Act. NOW, THEREFORE, BE IT ORDAINED BY THE MAYOR AND COUNCIL OF THE CITY OF IONA, IDAHO, as follows: Section 1: THE PROJECT A. The Council hereby finds, determines, and declares that it is necessary and essential to the public interest, health, safety, and welfare that the City acquire and construct certain capital improvements and betterments to the City's domestic water Page 1 system (the "Project"), consisting generally of, but not limited to, distribution system improvements and installation of a new well, together with related improvements and costs incidental thereto. B. The cost and expense of the acquisition, construction, and installation of the Project, as estimated by the engineers of the City, is approximately $600,000, including the payment of all preliminary expenses incurred and incident to the Project and properly incident to the issuance of the bonds as such expenses are set forth in said Revenue Bond Act, and including payment of interest on such bonds during the period to be covered by the acquisition and construction of the improvements as described in subparagraph A above. C. Subject to the following subparagraph, the acquisition, construction, and installation of the improvements, as described in subparagraph A, above, are hereby ordered. D. Subject to the approval thereof by the qualified electors voting at the election for which provision is hereinafter made, revenue bonds of the City shall be issued pursuant to the provisions of the Revenue Bond Act, being Idaho Code Sections 50-1027 to 50-1042, inclusive, in the amount of not to exceed $300,000, to pay a portion of the costs of the Project. Section 2: SPECIAL ELECTION A special municipal bond election is hereby called within the City to be held on Tuesday, October 27, 1992, for the purpose of enabling the qualified electors of the City to vote upon the proposition set forth in Section 4 hereof. Said election shall be held in accordance with the laws of the State of Idaho. Section 3: ADMINISTRATION OF ELECTION The polls of said election shall open at the hour of 12:00 o'clock noon on October 27, 1992, and shall remain open continu- ously on said day until the hour of 8:00 o'clock P.M., at which time said polls shall be closed. The City, as its boundaries and corporate limits are now fixed and established, shall consist of one (1) voting precinct, the polling place for which shall be: Iona City Hall 3606 North Main Iona, Idaho The Council shall appoint an election judge and election clerks for said voting place for said special election. The election officials shall be qualified City electors. Page 2 The administration of the election shall be conducted in accordance with Chapter 4 of Title 50, Idaho Code, as amended, except as provided by Section 50-1035, Idaho Code, and in accordance with this Ordinance. Section 4: BALLOT TITLE The ballot title for said special election shall be in substantially the following form: CITY OF IONA Bonneville County, Idaho SPECIAL BOND ELECTION OCTOBER 27, 1992 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? IN FAVOR OF issuing revenue bonds for the purposes provided by Ordinance No. 54 . . . • [ l AGAINST the issuance of revenue bonds for the purposes provided by Ordinance No. 54 . . . . [ ] INSTRUCTIONS TO VOTERS: To vote on the foregoing proposition, please make a cross (X) or other mark in the space to the right of the words "IN FAVOR OF issuing revenue bonds for the purposes provided in Ordinance No. 54" or "AGAINST the issuance of revenue bonds for the purposes provided in Ordinance No. 54" according the way you desire to vote on the question. If you, by mistake or accident, mark, tear, deface, or otherwise mutilate this ballot, please return it to the election Judge and obtain another ballot. The following information is required by Section 34-440, Idaho Code: The interest rate anticipated on the proposed bonds is 6.5% per annum. The range of anticipated rates Page 3 is from 5.0% to 8.0%. The City has no existing indebtedness. The total amount to be repaid over the life of the proposed bonds, principal and interest, based on the anticipated interest rate, is estimated to be $544,560. Section 5: ELECTION EXPENSES The City Clerk is hereby authorized and directed to procure such supplies and incur such expenses as she deems appropriate and necessary for the proper conduct of the special bond election. Section 6: QUALIFIED ELECTORS A11 persons eighteen (18) years of age or older, who at the time of the specified bond election are qualified electors of the City, properly registered and possessing the qualifications of residents, shall be qualified to vote at said election. Section 7: REGISTRATION No qualified elector who was duly registered as a voter, and who continues to reside at the same address or within the same precinct in which he or she is registered, and has voted in at least one general City election in the past four years, shall be required to re -register. Persons may register at the office of the City Clerk, as Registrar for the City, on any business day during office hours, until 8:00 P.M. on October 16, 1992. Persons may also register at the office of the Bonneville County Clerk in Idaho Falls, Idaho. Any elector who will complete his or her residence requirement or attain the requisite voting age on or prior to October 27, 1992, but during the period when the register of electors is closed, may register prior to the closing of the register. Section 8: SAMPLE BALLOTS The City Clerk shall cause the ballot to be prepared and, as required by Idaho Code S 50-440, cause to be printed, not less than fifteen (15) days before said election, sample ballots containing the question to be submitted, which sample ballots shall be in the same form as the official ballots to be used, except they shall have printed thereon the words "Sample Ballot," shall be on paper of a different color than the official ballots, and shall not be numbered. The City Clerk shall furnish copies of the same on application at his office to anyone applying therefor. Said sample ballots shall be published at least twice in the official newspaper of the City, the last publication to be on the last available publication date prior to said election. In lieu of publication, Page 4 the Sample Ballot may be published in three public places in the City. Section 9: NOTICE Notice of said special bond election shall be given prior to said election by publishing notice of such election in The Idaho Falls Post Register, the official newspaper of the City, once a week on the same day of the week for two (2) successive weeks, which notice shall be in substantially the form attached hereto, marked Exhibit "A," and by this reference incorporated herein. Section 10: CANVASS When the polls are closed, the election officials shall immediately proceed to count the ballots cast at the election. The counting shall be continued without adjournment until completed and the result declared. The election judge and clerks shall thereupon certify the returns of the election to the City Clerk, who shall present the results to the Council. The Mayor and Council shall meet within six (6) days following the election, or at such time to which said meeting is continued, at the regular meeting place of the City Council, at City Hall, Iona, Idaho, for the purpose of canvassing the results of the election. Thereupon, the results shall be entered in the minutes of the Council and proclaimed as final. Section 11: DEBT DISCLOSURE STATEMENT A brief official statement containing the information required by Idaho Code § 34-440, as amended, shall be prepared by the City Treasurer. Section 12: REVENUE BONDS If, at said election, a majority of the qualified electors of the City voting upon the ballot question set forth in Section 4 of this Ordinance vote in favor of the issuance of said bonds for the purposes set forth herein and designated on the aforesaid ballot, fully registered revenue bonds of the City shall be authorized, issued, sold, and delivered. Said bonds shall be issued in the form and manner, shall be registered, shall mature annually over a period which may be less than but which shall not exceed twenty (20) years, shall bear interest at a rate or rates to be determined by the Council at the time of issuance of such bonds, and shall be payable annually or at such lesser intervals and be subject to such redemption provisions, as may be prescribed by the ordinance authorizing the issuance of such bonds, all of which shall be in accordance with the laws of the State of Idaho. Page 5 The net revenues (gross revenues minus normal expenses of maintenance and operation) of the domestic water supply and distribution system of the City, will be pledged for the payment of principal of and interest and redemption premiums, if any, on said revenue bonds. Said bonds shall not be a debt of the City within the meaning of any State constitutional provision or statutory limitation, nor a charge against the general credit or taxing powers of the City, and the City shall not be liable therefor, nor shall said bonds or the interest thereon be payable out of any funds other than the revenues of the domestic water system specified above. Section 13: OFFICERS AUTHORIZED The officers of the City are hereby authorized and directed to take all action necessary or appropriate to effectuate the provisions of this Ordinance. Section 14: RATIFICATION All actions heretofore taken, not inconsistent with the provisions of this Ordinance, by the Mayor and Council directed toward construction and installation of the Project and the issuance of revenue bonds of the City therefor, and for the holding of a special municipal bond election, are hereby ratified, approved, and confirmed. Section 15: PUBLICATION This Ordinance, or a summary thereof in compliance with Section 50-901A, Idaho Code, shall be published once in the official newspaper of the City, and shall take effect immediately upon its passage, approval, and publication. DATED this 3rd day of October, 1992. CITY OF IONA Bonnevjtlle County, Idaho icalc ATTEST: City Clerk ( S E A L ) Page 6 PASS RESOLUTION 93-2 OCT. 3, 1992 1. Bond Council - Michael Moore 2. Passed Ordinance #54. Construction and instalation and improvement of Domestic Water System and call a special Bond Election. 3. Resolution 93-3. Convassing returns and delaying results of Bond Election S300.000 Bond. 205 for - 20 against. 4. Debt disclosure is done 27th of Oct. 1992. 5. Resolution 93-1 - approving publication summary of Ordinance #54 - 3 Oct. 1992. ordering a special Bond Election published 2 times. 6. Said Election was held on Oct. 27. 1992. 12-8 7. Passed compliance with.