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HomeMy WebLinkAbout111 Coupon Bonds ElectionOBDINANCE NO. lIL BY cbilrcil,l{EN Yrr.lur,r s.BROwN AND w. DEAN MAtiS I AN ONDINANCE SIJBMITTING TO TI{E QUAL]I'IED EIECTORS OF THE CIIY OT' MERIDIAN, ADA COIJNTY, IDAHO, VIHO ARE TAXPAYffiS THEREOF I'OR TIfiM, DETERMINATION, THE QI,IESIION OF ISSUTNG THE NECOTIABIE COUPON BONDS OT THX CITY OF MERIDIAN, ADA COU}ITI, ]DAHO, IN THE SUI{.OP T1'IEIIIY- FrvE TH0USAI{D ($z5rooo.oo) DoLtAPs ro PRovrDE FuL'DS I,IrrH wHrcH To CONSTRUCT A MUNICIPAL SIII4I'IING POOtr OF THE CITY OI']4ERIDIAN, ADA COUNTY, ]DAHO, FIXIIE TI{E T1ME AND PI,ACE OF HO],DING SUCH ]IXCTIOI{; EES]GNATING AND APPONiNING A REGISTRAR TOR SUCH ELECTION; PRESCRIS ]NG THE FONM OF TI{E BALI.OT TO BE USED AT SUCH ELECTION; D]RECT]NG THAT NOIICE OF SUCH ELXCTION BE OTIIEN AND PRESCRIBING THE FORM THffiEOF;DESIGI'IATIIG AND APPOINTING THE JUDGES 0r SUCH ELECIrON; moVrDiNG FOB THE ISSUANCE 0F SAID BoNDS, THE MAXDiqt RATE O!' ff'nnnESt SAID BONDS SIIALL BEAR, AND THE IILTIIIATE I'L'[T'JRI[Y FOR SAID BOM ISSUES PROVIIING fOR ANNUAL AMORTIZED I'IATURIIIES roR SAID BOND ISSUE; PROVIDIIIG THE I"ETHoD 0F PAYII,IG tHE PRTICIPAL AND INTEREST OF SAID BOND ISSUE; FUING THE ETFECTIVE DATE OF THIS ORDII'IANCE; AND REP. EALII,D ALL ORDINANCES OR PARTS 0F oTI{m ORDINANCES IN COI.IFLICT IN IfiIOLE OR IN PART HME}{ITH. UIIEREAS, it appears necesssry for the beat intorests of the City of Meridian, Ada County, Idaho, that a urnlclpal swirod:cg pool be constructod by said city; artd WHEREAS, it is contemptated that the cos! of constructjxg said srr"jrming pool in the city of Meridian, Ada County, Idaho shall be paid ior by the City of Meridian, Ada County, Idaho, at Large, and out of the general funds of such City; and WHEREAS, thc CJ.ty of Merldian, Ada County, fdaho is unable to provide the nocessary f,unds for the coneLructjon of said srirnmlng pool out of the general levy; lll{EFEAS, lt is deened advlsable to issuo negotiable coupon bonds of the City of Meridian, Ada County, Idaho, in the sum of $25rOm.OO to trirovide funds wlth which to construct said swimming pooi- of the Ciiy of Merldia:n, Ada County, ldaho. NOIJ, TffiREiroRE, be it ordained by the Mayor and Council- of the Clty of Meridian: SIiTION 1. A opec ia1 bond election is hereby ordered and called to be held wiiir:n the City of Meridian, Ada County, Idaho, at the t im.e and at lhe vot in6 places hersinafter desigrrated and esLablished, for the purpo se of submitti-n to the qualified voters of the city of Merldlan, Ada county, rdahor utto are taxpayers thereof, flr thei.r doterminat ionl,jhe question of issuing negoti- able coupon bonds of the Ctiy of lieridian, Ada. County, Idaho, jrt the sutn of $ZITOOO.OO to proviae funds u:ith wlrlch to construct a lunlc ipal s*iri:rrg pool for the City of Meridian, Ada County, Idaho. SXCIION 2. This special bond election shall be heLd on AprlJ. 25, 1961 and the poll-s for this election shall be opened "i ti,o ito,r, of 9:0o orclock A.M. of said day and shall remairt op€n continuously and sha]-l be closed at the. hour of l;00 otclock p.u, of ouch daJr. The polfira places are hereby designated as foilous: For tire first uaro, The Methodlst Church situated at 8ja East 3rd Street jn the City of l'leridian, ldaho; and for the l-"-"o"a -w.-.a, the city HaIt sltuated at 728 lleridian Street in the u ity of Meridian, Idaho. SECTION 3. Hera1d J. Cgx, City Clerk of the Citv of. trleridian' Ada County, Idaho, is hereby deslgnated and -appoirrted as.the- i"Ji.ir* i.t this speci-al bond eleqtion and shal1 register el-fctors therefor at the Clty Clerkrs Office ln the C ir'y HaIL 5rr the City of l'leridia.n, Ada County, Idetrol- SECT I6N 4. Ttre voi ing at this speclal bond election shaLl be Uy eec"ei-t"a separate bal-Iot and uuch ballot shall be ir sub- sbantially the form "" to*offiraIAl BALIOI STECIAL MUNICIPAI BOND ELECTION City of l'lcrldian, Ada County, Idaho AprlJ- 25' L96L INSTEUCTIONS The voter shall malte a cross (X)int he approPri-ate spce opposite the vords ntrich exprc ss his choice onthe question submitLed. vt6 Ordjnance No IL1, Cont t d. In favor of iss"ing bonde in the anount of t2riOOO.OO for the Fvgosees --.rted in Ordinance No. 1ll" ----\/--- !:) Agatrst issuilg bonds j-n the arount of $251000.00 for the purposes state jn Ordfurance No. 11] SECTION 5. The City Clerk of the City of Meridian, Ada County, Idaho, shal). glve thirty days not ice of this spec ial bond election by causing a notice thereof to be published for aperiod of thirby days prlor to the time of holdtu€ such electionjl the News-Tlles, a newspaper published and in general cjrcula-tion jrr the uity of Merldian, Ada County, ldaho, and by posl ing notlces thereof at least thlrty days prior to the time of holdjrg such el-ection in th"ee of the xoost public places i:: each ward irrthe City of Meridian, Ada County, Idabo oni of sueh notlces to beposted at each polling place t*lere such election is authorized to be heId, and the others of such notices to be posLed at the nostpubllc and mos'L suitable places in the said Ciiy of Merldian, Ada County, Idatro, whlch notice shall be oubstant ially in thi fo11ow5lg fonn: NOTICE OF SPECIAI MUNICTPAI BOND EI.ECTION NOTICE IS I{ERMY GTVEI.I, PURSUANT TO TI{E IAWS OF TI{E STATE OF ldaho and ordlnance l,lo. I11 of the City of Meridian, Ada County,Idaho, that e spec ia1 bond electlon l^dIL be hetd irr the City oi'Meridlan, Ada County, Idaho at the voting places hereJnafterdesignated, on April 25, 196l, bogianing ai the hour of nineotclock A.l,l., and closlng at the hour of seven orclock p.II., ofsaid day, for the purpose of takjng a vote of the qualifiedelecto s of the City of lvieridian, Ada County, Idaho uho are taspayers thereof upon the question of issulng the negotiable coupon bonds of the City of }leridian, Ada County, Idaho, irr the sun of $25r00O.0O to provide funds for constructlon of a m:nic ipat sr.rinnfug pool jn sald clty. NOT ICE IS FURTHEB GTIEN that this special bond election sha11be held wlthil and a vote upon such quesl lon taken u-ithi_n the Cityof }Gridian, Ada County, Idaho, and the de signated polli_ng places-sha1l be as follows: for the first Ward, th; Methodist Churchsituated at 6ll East lrd Street in the City.of Merldj.an, Idaho; and for the Second Ward, the City Hall situated at ?29 MerictiaiStreet in the CiUy of Meridian, Idaho. TIOTICE fS FURTHE' GIVEN THAT EACH AI\D EVERY PERSONIS REQUIRED,to register as prorrided by the laws of the Stata of Idaho fur orde i9 votg at thls special bond electi.on; thar the place of registra_tlon shall be at the City Clerkrs Office in the Ctty HaII oI tne Yity 9f tr(erldian, Ada County, Idabo; that the narne of the registrar f9r lhis special.bond election is Herald J. Cox, the City ClJrk ofthe.City of Meridian, Ada County, Idaho; and that persons nayregisLer to vote at this special bond ei-ection at lhe place Lndwith the rogistrar herelrrbefore named at any t jme <iuring offlcehours, beginning with the day that trris notice of election isgi.ven, and,each day thoreafter urrti-l- and i-ncluding the Saturday nexL preciding the election and on the Tfurg.sday, Friday and P:tyday nexL precedi:ng the election, p€rsons niy regiiter betveenthe hours of nine orclock A.M. and Five o,clock F.U. and betweenthe hours of seven Otclock p.l,l. and nine orclock p.M. ]i0T ICE IS FURTHER GI\,rEN that the voting at ris special bondelection sha1l be by secret ba1lot which ba]Iot shall be in theforr set for th ln Ordirrance No. ILl. I DATID This 22nd day of }Iarch, I SECTfON 6. For the Firsb War.d' Her City er Ibs. Ru Ro sow I I,lrs. Har Radloff and l,Irs. Cfyde Wa ey and for the Sec Ward,Harol Fro sL l,Irs. Che ster Chaprnan and l.irs Jackare hereby signated and appo Lnl,ed to act as judges ofthis spec iaf bond election. ond Lyman SffTION g. If the issuance of such bonds shaJ.l be approvedat this spec ia1 bond election, there shaI1 be issued in accordancewith this ordl.nance and the general laws of the SLale of ldaho,the negotiable coupon-bond.s of the City of l1eridi.an, Ada County,Idaho, jn the surn of $2IrOOO.OO for the purposes provi.ded inSection I of this ordinanee. A1l such bonds sha11 bear interestat the rate oi rates not exdeeding six per cent por annun. Irlobonds shal-l be iseued to run for a long-r tarm than twenty years from the date of the issuance thereof. SEOTION 8. All bonds issued pursuant to this ordinance shall nature and be payable upon an annual arnort lz at ion pIan, the first annual arortized princ ipal palment shall nature and be payabl e atthe expiratlon of tuo years from and after the date of issue, and C UldlnaDce No 111, Uont rd the varlous anmral naturlties shall, es neer aa practical, be in such Frirr aI anou r aa rril1, together rith accnri inte. t on all outVand5ng brCnds of this issue, be met and pa.i6 Uy ir equal annual tax levy for the paynent of the prlnc ipal of said bondg and interest theroon durilg the term for uirtdh said bonds shaLl be lssued. SECTION 9. Thore sha1I be levied annual\y at the time when and in th6 roarurer rt*rich other general t:xes of the City of Meridian, Ada County, Idaho ere levied, and upon all the taxable property withjn the City of Meridian, Ada County, Ideho, inaddition to all- other authorlzed taxes and assessrnents, a tax addit ion to a1I other authorized taxes end. assessments, a taxsufficlent to nebt thc payrent e of the prfuic ipal and i-ntere st on such bonds as the se.ue mature, and to constitutc a sinkilg fundfor the paynent of the pni-nc ipal anount of suxh bonds within twenty years fron the tirne of contract ilg the ildebtedness evidencod bhereby and i-n accordance with the provisi,ons nado for the pay- ment of the prlnc ipal and ilterest of suxh bonds and also toconstitutc a sinkJng fund for the paymant of tho princ ipaL there-of as roqu5red by the ConsLitution and Iaws of the State of Idaho. Such tax shal1 be assesged, levied and collected jrr the same nanner 8s other taxes for general aunic ipal purposes and the properofficer or offlcers of the City of Meridian, Ad; Coutity, Idah; shal1 do all things requisite and neceseary to carry out theprovisi.ons therof with respect to the levy and collection of such taxes until the princ ipal ind jnterest of e1l of said bonds and interest thcreon shall be fu1ly paid. All of such taxes rrhen coll-edtod sha1I be credited to the City Treasurer of the City of Meridian, Ada Countyr ldaho, to a separate fund distjnct fron the firndg of the papent of pri-nc ipal and interesL on bonds of !n;r other series or issue, and apart from anJr other funcis of th6 - - -uity of Morldian, Ada County, Idaho. SECTION 10. This ordinence shall be i-n full force end eifect -'- - from and aftcr its passage, approval and publicaLlon as provided by 1aw, and shal1 not be repeal.ed durlng the l-ife of such bonds. SDCT ION 1L. A1l- ordinancee or parL s of other ordjnancesin conflict jrr vuhole or in part hereuith are herby repealed. PASSED by the Counc i.1. of the City of MerJ.dian, this 2&rd dayof }4arch, 196I. 2/9 I APPROVED by of March, 1t51. A epk I ( seal) the Mayor of the City of Meridlan, this 22nd day I .277 ORD INANCE NO. III BY COUNCILMEN WILLIAM S. BROWN AND W. DEAN MAYi<.;S I AN ORDINANCE SUBMITTING TO THE QUALIFIED ELECTORS OF THE CITY OF MERIDIAN, ADA COUNTY ,IDAHO I WHO ARE TAXPAYERS THEREOF FOR THEIR DEI'ERMINATION, THE QUESTION OF ISSUING THE NEGOTIABLE COUPON BONDS OF THE CITY OF MERIDIAN, ADA COUNTY, IDAHO, IN THE SUM_ OF TITENTY- FIVE THOUSAND ($25:,000.00) DOLLARS TO PROVIDE FUNDS WITH WHICH TO CONSTRUCT A HUNICIPAL SWlMHING POOL OF THE CITY OF l1ERIDIAN, ADA COUNTY, IT>AHO I FIXING THE T IHE AND PLACE OF Horn ING SUCH ElliCT ION; BESIGNATING AND APPOINTING A REGISTRAR FOR SUCH ELECTION; PRESCRIBING THE FORM OF THE BALLOT TO BE USED AT SUCH ELECTION; DmECTING THAT NOTICE OF SUCH ELECTION BE GIVEN AND PRESCRIBING THE FORM THEREOF;DESIGNATING AND APPOINTING THE JUDGES OF SUCH . ELF..GTION; PROVIDING FOR THE ISSUANCE OF SAID BONDS, THE MAXJJ.rIUM RATE OF INTEREST SAID BONDS SHALL DEAR, AND THE ULTJNATE HATURITY FOR SAID BOND ISSUE} PROVIDTIJG FOR ANNUAL AMORTIZED MATURITIES FOR SAIT> BOND ISSUE; PROVIDING THE METHOD OF PAymG THE PRINCIPAL AND INTEREST OF SAID BOND ISSUE; FIXING THE EFFECTIVE DATE OF THIS ORDINANCE; AND REI:EALING AU, ORDINANCES OR PARTS OF OTHER ORDINANCES IN COl\TfLICT IN WHOLE OR IN PART HEREWITH. WHEREAS, it appears necessary for the best interests of-the City of Meridian, Ada'County, Idaho, that a municipal sw:iJnming pool be constructed by said city; and I WHEREAS, it is contemplated that the cost of constructing said swimming pool in the city of Meridian, Ada County, IdahO shall be paid for by the City of Meridian, Ada County, Idaho, at large, and out of the general funds of such City; and WHEREAS, the City of Meridian, Ada County, Id<;1.ho is unable to provide the necessary funds for the construction of said swimming pool out of the general levy; WHEREAS, it is deemed advisable to issue negotiable coupon bonds of the City of Meridian, Ada County, Idaho, in the sum of $25,000.00 to provide funds with which to construct said swimming pool of the City of Heridian, Ada County, Idaho. NOW, THEREFORE, be it ordained by the Mayor and Council of the City of Meridian: SECTION 1. A special bond election is hereby ordered and _ called to be held within the City of Meridian, Ada County, Idaho, at the time and at the voting places hereinafter designated and established, for the purpose of submittinr to the qualified voters of the City of Meridian, Ada County, Idaho, who are taxpayers thereof, for their determination'~J.the question of issuing negoti- able coupon bonds of the Ctiy of Meridian, Ada County, Idaho, in the sum of $25,000.00 to provide funds with which to construct a municipal swimming pool for the City of Meridian, Ada County, Idaho. SECTION 2. This special bond election shall be held on April 25, 1961 and the polls for this eiection shall be opened at the hour of 9:00 o'clock A.M. of said day and shall remain open continuously and shall be closed at the. hour of 7:00 o'clock P.M. of such day. The polling places are hereby designated as follows: For the first ware, The Methodist Church situated at $33 East 3rd Street in the City of Heridian, Idaho; and for the ~econd Ward, the City Hall -situated at 72S Meridian Street in the City of Meridian, Idaho. SECTION 3. Herald J. Cox, City Clerk of the City of Heridian, Ada County, Idaho, is hereby designated and appointed as. the- ... . registrar for this special bond election and shall regist'er - - electors therefor at the City Clerk I s Office in the City Hall in the City of Heridian, Ada County, Idaho. SECTION 4. The voting at this special bond election shall be by secret and separate ballot and such ballot shall be in sub- stantially the form as follows: OFFJC IAL BALLOT SPECIAL MUNICIPAL BOND ELECTION City of Meridian, Ada County, Idaho April 25, 1961 INSTRUCTIONS The voter shall make a cross eX) in the appropriate space . opposite the words which express his choice onthe question submitted. 278 Ordinance No 111, Cont1d. In favor of issuing bonds in the amount of $25,000.00 for the purp0sees stated in Ordinance No. 111 ----------- c::==J Against issuing bonds in the amount of $25,000.00 for the purposes state in Ordinance_ No. 111 SECTION 5. The City Clerk of the City of Meridian, Ada County, Idaho, shall give thirty days notice of this special bond election by causing a notice thereof to be published for a period of thirty days prior to the time of holding such election in the News-Times, a newspaper published Bnd in general circula- tion in the City of Meridian, Ada County, Idaho, and by posting notices thereof at least thirty days prior to the time of holding such election in three of the most public places in each ward in the City of Meridian, Ada County, Idaho one of such notices to be posted at each polling place where such election is authorized to be held, and the others of such notices to be posted at the most public and most suitable places in the said City of Meridian, Ada County, Idaho, which notice shall be substantially in the following form: NOTICE OF SPECIAL 11UNICIPAL BOND ELECTION NOTICE IS HEREBY GIVEN, PURSUANT TO THE LAWS OF THE STATE OF Idaho and ordinance No. 111 of the City of Meridian, Ada County, Idaho, that a special bond election will be held in the City of Meridian, Ada County, Idaho at the voting places hereinafter designated, on April 25, 1961, beginning at the hour of nine olclock A.M., and closing at the hour of seven olclock P.M., of said day, for the purpose of taking a vote of the qualified electo s of the City of Meridian, Ada County, Idaho who are taspayers thereof upon the question of issuing the negotiable coupon bonds of the City of Meridian, Ada County, Idaho, in the sum of $25,000.00 to provide funds for construction of a municipal swimming pool in said city. NOTICE IS FURTHhli GIVEN that this special bond election shall be held within and a vote upon such question taken within the City of Meridian, Ada County, Idaho, and the designated polling places shall be as follows: for the first Ward, the Methodist Church situated at S33 East 3rd Street in the City-of Meridian, Idaho; and for the Second Ward, the City Hall situated at 72f5 Meridian Street in the CiGY of Meridian, Idaho. NOTICE IS FURTHER GIVEN THAT EACH AND EVERY PERSONIS REQUIRErr to register as provided by the laws of the State of Idaho in order to vote at this special bond election; that the place of registra- tion shall be at the City Clerk1s Office in the City Hall of ' the City of Meridian, Ada County, Idaho; that the name of the registrar for this special-bond election is Herald J. Cox, the City Clerk of the City of Meridian, Ada County, Idaho; and that persons may register to vote at this special bond election at the place and with the registrar hereinbefore named at any time during office hours, beginning-with the day that ti;is notice of election is given, and each day thereafter until and including the Saturday next prectiding the election and on the Thursday, Friday and Saturday next preceding the election, persons may register between the hours of nine o'clock A.M. and Five olclock P.M. and between the hours of seven Olclock P.M. and nine olclock P.M. NOTICE IS FURTHER GIVEN that the voting at this special bond election shall be by secret ballot which ballot shall be in the form set for th in Ordinance No. Ill. DATED This 22nd day of March, ~....7 L--/ H~. . City erk SECTION 6. For the First Ward, JvIrs. Rudy Rossow ---::-' Mrs. Harry Radloff and Mrs. Clyde vlaitley and- for the Second Ward, Harold R. Frost ,Mrs. Chester Chapman and Hrs Jack Lyman are hereby designated and appointed to act as judges of . this special bond election. SECTION 1. . If the issuance of such bonds shall be approved at this special bond election, there shall be issued in accordance- with this ordinance- and the general laws of the State of Idaho, the negotiable coupon bonds of the City of J:.1eridian, Ada County, Idaho, in the sum of $25,000.00 for the purposes provided in Section 1 of this ordinance. All such bonds shall bear interest at the rate or rates not exdeeding six per cent per annum. No bonds shall be issued to run for a longer term than twenty years from the date of the issuance thereof. SECTION f5. All bonds issued pursuant to this ordinance shall mature and be payable upon an annual amortization plan, the first annual amortized principal payment shall mature and be payabJe at the expiration of two years from and after the date of issue, and CJ (t. I I I I Ordinance No Ill, Cont'd the various annual maturities shall, as near as practical, be in such principal amounts as will, together with accruing interest on all outstanding bonds of this issue, be met and paid by an equal annual tax levy for the payment of the principal of said bonds and interest thereon during the term for wh~ah said bonds shall be issued. SECTION 9. There shall be levied annually at the time ..lhen and in the manner which other general taxes of the City of Meridian, Ada County, Idaho are levied, and upon all the taxable property within the City of Meridian, Ada County, Idaho, in addition to all other authorized taxes and assessments, a tax addition to all other authorized taxes and assessments, a tax sufficient to mett the payments of the principal and interest on such bonds as the same mature, and to constitute a sinking fund for the payment of the principal amount of suxh bonds within twenty years from the time of contracting the indebtedness evidenced bhereby and in accordance with the provisions made for the pay- ment of the principal and interest of suxh bonds and also to constitute a sinking fund for the payment of the principal there- of as required by the Constitution and Laws of the State of Idaho. Such tax shall be assessed, levied and collected in the same manner as other taxes for general municipal purposes and the proper officer or officers of the City of Meridian, Ada Couu.ty, Idaho shall do all things requisite and necessary to carry out the provisions therof with respect to the levy and collection of such taxes until the principal and interest of all of said bonds and interest thereon shall be fully paid. All of such taxes when colledted shall be credited to the City Treasurer of the City of Meridian, Ada County, Idaho, to a separate fund distinct from the funds of the payment of principal and interest on bonds of any other series or issue, and apart from any other funds of the City of Meridian, Ada County, Idaho. '. _ SECTION 10. This ordinance shall be in full force and effect from and after its passage, approval and publication as provided by law, and shall not be repealed during the life of such bonds. SECTION 11. All ordinances or parts of other ordinances in conflict in whole or in part herewith are herby repealed. PASSED by the Council of the City of Meridian, this 22nd day of March, 1961. APPROVED by the Mayor of the City of Meridian, this 22nd day of March, 1961. 279 . ---" .......... ......-" ....... -- - -. ", '" 1 ,; '4..----. /1 .' t, I ~'I (;;"'--------' , I...! ... " II,,{/\ ( S-eal) , .' 1/ ./ ,0"""