HomeMy WebLinkAbout1977-08-01Meridian City Fall
August 1, 1977
thers
present: Kung Han;
isa
; Marshall Carl B. llsw
rth;
ank Houst;
Ulyde or
Les Anke
r; Vdanne
; Richard
Viftitacre,'Tom i son; 3ud ailte,
hults; Roger Welker: Vern
Schoen;
Offen _...
Robert Hi
at; truce
enbe
u ; erson,
g; Kelly Everett; Wayne Cro ksto
Andy
Jr.;
n rson;
ary ren
f.IinaateD
of previous meeting
read
and ap6roved.
Phil ft4
rshall reported that
Ada County
ighway District is about
ready
sign
e re
ffednesday
ease £or Idaho Const
of this week.
ctio
who 11 be out of his p ojec
a
ou
The payor
showed pleasure tkat
prof ct is inally beinge
Mo
ity C
ion was made by
erk be instructed to
'ne seconded by Kenneth asm
m Co struction funds to tkin
ssen
Cons
e
ruction
or We
is 9 and 10 Pump and
Motion assed: Bo•
use ject the amount of 27,0
arro, yea, Rasmussenyea-,
.1 .
Williuns,
yea.
rhe Mo
5ion was madeby Richard
Willliams
and seconded by John Nava
o th
it the
ity Clerk
Po
be authorized to
Inc. for Water Distribution
pay from
Construction Funds to Idaho
S -tem Proect the amount of
onst
6
action
7.71.
Motion passed: Bodine.,
; Navarro.. yea; Rasmussen, yea;
Willi
as, yea.
rhe 1
ion was made by fLennf
th Rasmussen
and seconded by Marvin B
dine
that
,hange
Ln the
Order No. 10, Contract
amount of
#3
for Idlaho Construction Cormany,
nc. b
approved
Motion passed: Bodine.
yea;
Navarro, yea; Rasmussen, yea;
Willi
ms,yea.
here
are some trenches caveing
In
and Idaho Construction will have
to
orrect these.
"r. Pa
he In
shall explained further
ectio o
that
due to the time of over.un by
the C
ntra.ctor,
be aimed
_
'n the
hese
amount of approximately
additional costs
"
700.0 to 42000.00. The City so
_
desires
to defray
ontra
t specification calls
for
_
liquidation damages D1r. Marshall
explained.
he Edo
ion was made by Ric
d William
and seconded by Ken th R
smuss
n that
-
eCity�kae
Cor Wa
adze
er Project Statement
#9 t1e
---
ay�r Construction Funds-
amount requested,
---
- n
-veers,cr�i .--
—
---
90+2.44
--- --
-
-- -
---
Balance
Dt8e.,
7, 10.
--Llotion
passed.-
e,- y
a; a _ o, yea; Rasmussen, yea;
Williams,
yea,
e am
ontra
unt of$1.,631.98 is an
for overrun of time
overrun
ched
of the resident Engineer *a2sed
e from Jul 1 throu Jul
br
9
the
--
—
-2
he Pyo
i Cert
i.on was made by John
be authorized to
Navairo
Day I
anc seconded by Kenneth Rasnu3sen
rom-CcnstructionFunds Con actiodic
taat
the
awr es
ounda
imate #5 final to Rilia
ion and site work
Motion passed: Bo
Corstruciion
, y
Company,Inc., £ r Elevated
a; Na acro, yea; Rasmussen, yea;
Wi11'
tater Tank
, yea
0
Meridian City Hall
.2.
s
Aum mt I . 1977
e Mo
ion was made by John Nava
and
seconded by Marvin
dine
that the
�ity C
onpleted
tainLSt
erk be instructed to Day fom
and certified as complAe
gclonldamPor CIe s�'any
Construction
by
da ag
Funds when
the Engineers for the
sdoircostarto citTank y.Jec
the Irojects
projects
♦
are
a
LcLanO Mr -
a u
n ea
_rhere
i
ras considerable discussion,
conte
m=g the performance
of I
o Cc
nstruction
s to
re brM
iauidated damages, p
properlysatisfied.
Ject
compl
teness anw e er
e
roec
costs-
Me TFO
ion was made
ne anrecon
nne
lerk
authorized to Day from
C
nstru tion Funds to Idaho
Tonst
ctiorfor
a erDistribution
rojec
project
is completed and all
e retainage
mattors
resolved
estimate amount or I
in relation to
W,4.-;5?.Uuen
the
projeci.
Ure
Motion passed: Bod'
e, yes;
Navarro,
yea; Rasmussen,
yea;
Williams,
yea.
ndy Anderson
was present to
disc
ss th
James Court Annexation*
He a
es to a
W
props1
easement
down the East side
of his
property,
drawn up in a m
wner
acceptable
to
ture
date.
heMo
ion was made by Ric
Wi
liams and seconded by Kenn
as
th
smuss
5i b
n that
ct to
eetin
the requirements upon
F
inspectionby
._
the Fire Chief,
'ity
ork's
Snp't.,
Motionpassed: Bod'
e,_yell
N 0, yea; Rasmussen,
yea;
Williams.,
yea.
. Kw
Lg Han introduced Jim
Manno
Both
represent Opoenheimer
Dev
lopme
t or HUICO
2r. Mam
stated that he was
the ?.a -or and those
looking
that
forvfard
to becoming a Dart
in getting them located
of Merid'an,
in th
and
_;hanked
restw
od Industrial Annexation
-assisted
property
west of the Boise Casca&
Corp
ration
roer
on West Franklin.
_
he M
r stated that he ha
_
enjoyed
d working
with them and felt
t
t th
s would be
good
tax base for the Cit
o£ Meridian,
Jim M
explained the HUIG
by statingthat
he was very pleased
ith their
pera
ori and— -�Tieir any
is a
fine
ompany to represent.
d Felling came before the'Coun
it to
discuss the advance refundLng
as
is being
rotes
ed the oast few w
ekes
_
__
hese
.in
onds bear a BAA Rating
as
sent in
and came back as RAA
11
9. 1/2
step higher
han_.
ti-eipated, These ra
dngn-
are a
co=liaated'
c
sm an
i was leased
o get
the higher rating,t
ugh
Moody's annalyst. This giies
the
pure
ser a
conte
ing
a cl
sing of the bonds.
igna
reis
required
e-the-bands.--Ipossibly
this wil
r-t-anctsesuri#3�akston
nee
to b
done in Denver beta
se o
the a
nse
*herrediscussion
read the re
ords
requ'
d ordinancepa ers,
est
re
rds,s
pe inent ann
cess
ry
the proper dispatc
f
n
re ce,
at the papexvrork
s re
dy to
go.g
hat e
� ich would land
y s
n a
ould
hur
ake the necessary ac
ion
a
ore
not
ep m er
as good.
E
Meridian City Hall
.3.
0
August 1. 1977
_
Hank
oust, representing Future
rda Development, came befo
the Council to
disco
There
s his development at
were 18 items to be dxani
MeridLaiFmn1
WestFranklin,
d# Taese items appeared t>
be con1lict with
e platting
proceed
or :mance an
as the developer pioposes.
nee
to ve variances or spec
ThLs list is on file with
rmiss on o
these minutes.
The developer,
Mr. Houst, assured
the ouncil that all itmea
woif d be corrected.
The Ytyor
recommended that
when
bhepoints have been clarif
ed and cor2ectad
appro
hard
e y - e y onsu
o the City can then
zng
ace
g-.ne rs an umner o nso
-pt th develo ers prop2sal,
o - - gns
The Ii
tion was made by Kenr
eth R
smuss n and seconded by Ri
hard Willi that
u
Engin
Ida 1be ao-oroved
ers and they have signed
when
e r commen a ionsve
a hard copy.
en acceptec by We
Motion passed: Bodine..
ye
; Navarro,, yea; Rasmussen,
yea; Willi s, yea.
Bob H
lgenberg, representi
g APA
was present to explain th
it p)sitioiFin the
Comprehensive
This
Pian and the
matter is to come up later
City
Ooining with APA as a member,.
the meeting when Mr. Be
eoso o th County
Commilbsioner,
will arrive*
The M
Che
yor read a letter fr
Lane Vil]age.in the
m the
matte
NMeridian Irrigation
of'gation water for t
District co cern
e Go course project
he N
me
Meridian Irrigation
mr announced also
i
at-Mr.A9
threa Hing to hol up un
1 ma r is so ve .
on_ r about
the 11th
of August to discuss
some
changes in the land use
iue residential
The C
ty Clerk is to set u
a meeting
s near the 10th of A
st as possible.
Wayne
t canDlAtPA,
Crookston reported t
orp. is nn i
e progress
Is -way-
of the Sewer Easement
f Alaska -
5. T ere are a few
The M
provide
yor stated that the 1�mice
easement of sewer and
water
Products have agreed to be
across their property, I
anne ced and will
The City
Annexation
Attorney is to pr
and to proceed
teed
m rd__awexatn,
with getting the Pumice Pro
Contact is to
____
c to re est
be de with Louis Hoffman
_
the o
conta
.
e that the ,dayor had
ted. __
contacted
_
in this matter. Also,
Lcrr Sanro might be
Mayor
easements
Storey discussed Cherry
for sewerp water
Plaza
and
Shopping Center. They
eave—the lines Aa -they -ax -a.
lesirad to rovide
The 1
owner
yor stated that the sewer
was laid in a improper manner
ani coull cause
The M
City
tion was made by Ke
conform with the Engimeers
eth Fasmussen
and seconded byMaodine
recommendation and not sipm
that the
or ap-orovel the
easem2mt
and
for the placement
insist on the lines
of water
bei
and sewer lines for Cherry
laid at the ecificatlorg
Plaza Shopping Center
of the Ci before
accep
ante.
Motion ass df Bod'
_
Will' ea
meriozan
ui ha11 .4. august 12 1Y/(
Carl
llsvorth had suggested tha
this
project be severed to
the North to connect
wltn
As new and future sevier mmkimn
co
uv 5 Mile Creek.
This Moul be a dry
line
Law to be put into sex vice
when tie
plant is completed
svo exp acne er,hat
y sever IM., p7—off-7abTicj
_ it is the
City
hat gets the call when the
are
problems.
The P4
yor read the easement that
the C
erry Plaza Shopping
Gentex had provided
for
ter an(] seffer lixipq- It wis
not�d
that =s does t
satidfv the ror
la
of the utility lines.
d sewer
lines
that should be installed with
approved
engineered drawings.
The
t
Pa
stating that there
is now approximately
$30.,0(0.00
available to pexformm
kore d
velopment and recommended
that the City
sprinkle system
at th s time.
There
was further discussion con
ernin
the building of the
restrooms.
Carl
llswroth recommended that
�he BO,
could be cotitacted
so thAt witt additional
-funTs-there
might be matching rtnids
av
e.
The h'
tion was made by Rid ard W
Uliam
5 and seconded by Mar
rin Bc dine that the
City groceed
with the spr' er
system
for the 15 Acre Park
proj ct.
Bid
be srhedule�
Motion passed: Bodire, ye
i; Nav3Lrro,
yea; Rasmussen,
yea; Willi s, yea.
The Mayor
left at this time.
Ric Thlerhause
was present repre5entin7
Meridian Insurance,
tsked if the tower
fire and
to what extent, etc.
Statement
_
of values on fil
,,
with these minutes.
The Motion
was made by Kerreth
smuss
n and seconded by Ri
hard Williims that
June
, 1977; a value of luildings,
$
212,708.00, a value o
fu ishin s $189100.00
– —
–
ow the
eancerrimrg -
liability
and building.
pro er coverage
p
Motion passed: Nav ,
a; Rasmussen,
yea; Williams,
yea,
Ric_ha_
d Shults, Waste Treatmentu_�
sor, mentioned that
here is a lift station
in G
gory Subdivision tha —has—Ian
eas
sment. Mr. Stuart is
to assist him in getting_
the l
cation of the easeme t in
Drderto
geta pment in
this to nuace repairs.
Mr. S
alts reouesthd permission
to go
to a sewage disposal
school to be held in
maintAnance
-
1�LDo_
proceeding proTerly.
Chief
brought u the
tter
of the Eaot First St-eet
mraffi
There
seems to be a real p3 oblendeciding
what to do becaus
any cours of action
AA hould
be pr
sent at the time of (eciding
this
issue.
Mr. G
een rejorted thaLt,_
F
t S reet ire
contiiuing.
There have been ll
accideats
this year and 5 list
ysar. Is felt
that,
meth'iatiqi.
_
It ap_
ared that the traffic p
lem
1 not be easily sol
ed, ll be ng in
doubt
that
eft turns slow up traffic
here
r allowed.
--
T
Mr. W
lliams suggested a solution--
21
a from Franklin to
the r.ilro track then
intersections and vacate
I lanes from Railroad tracks to
Wash noon with left turn at
parking on the East side.
Meridian City Hall .5.
August 1, 1977
The Potion died for the lack of a second.
Mr. Williams stated that he felt that the City was getting more than a
Comprehensive Plan.
Bills were Read:
There
is off street parkin
av able n the City Center.
The
tion was made by Richard
Williams and seconded by Kenieth
lasmuwen
to have
Motion passed: Nav
ro, a; Rasmussen., yea; William;,
ye
.
G
o
oncernina the 911.
This
is aIDaDer
that
has b
en needed for some t:
-me fgtheke of good housekee
ing.
v
e
prese
t, an agreement is n
cessat all concerned wi
1
whe
a they stand.
don't m
k nu all over n ParJod of
time,The
tion was made by Ke
eth and seconded by RU
hard
Williams
that
Motion passed: Nava3ro,
ea-, ssen a• William
.
There
was discussion at th
s timI6 conc rning costs involved
in the
9114
This is
not kiown
at this time.
a cos shar ng agreement with th
D ruri
LL was
I discuss-eT.—
lIt wa5
thought that due to
the o i testing period an aIjustiment
should
be
considered
with the rural Fire
nt. No action wast
en
t thi
time.
Robe
H' enber lain
the o tion of the APA Bud
t
divided
into
2 sec
ion:
1. Special
ec s_ re the Meridian Cc,Dreh
nsive
Plan would
placed.
2. General P3o
Bu e
the functions inc
uthe
various
lements of all ident
ties
involved.
Gary
Bermeosolo was present
alsa to explain the programming
of the
Bu
et. There
last
The A
rear to the political
city
identities involved.
ilre
Citr AAsJrPs
engineering
I wil.1 get, the -
review, the co
c reben p!2n with maps,
is will be to the City.
to-
about
$59310.00 for this m
xt year.
Plan;
for a total of $9,70
.00.
Mr. H
lgenberg proceededwith
the explaination. The total
cost
of APA
would be
$12,Lt
9.98; Meridian share
1/3 $411 66.66. 213 of this c
st will
be
born by 701
Programs
by Federal Fluids.
The last o£ this fiscal year
is
a free
membership
for Meridian.
_
Mr. B
rmeosolo encouraged
he City to join APA because not
Dnly
or the
benefits to
—
of Adt
County. The programs
of the
of APA are made up of the project
long and need the City input - the
-
reque
is of its
idem
Lties of the County b
ILunar
School
Ustrict,
------Eagle,
and tieir
problems.
_
guidance
member Dov] d as
and alternatives.
by gi:ring
guidance as to the
itEms that are to be eliminated
or
taken
ip for
ts..- Tf _a.-memHerY
oft
City.
The b
Veridan-join
tion was made by Rickard
APA in this.-Ilwal
11illiars and seconded by Kerneth
1'.
asmus
en that
into
re Budget in process
Irplar to .1,1.
and cther matters.
Mr. R
O
smussen withdrew his
.i
seco d to loer time to confer
'th t
e P1
ing and
The Potion died for the lack of a second.
Mr. Williams stated that he felt that the City was getting more than a
Comprehensive Plan.
Bills were Read:
0 0
Meridian City Hall .6.
Voucher Date Purpose
August 1, 1977
Amount
1
a -ter & Sewer Acc6un
t2or+0lb
119 6 7 14.77
Idaho FirstNa ion
Boise Paving & Asphalt
Co.,
Inc
Water
HUDD Funds
,
41631.43
eons er
e
119 7 19.77
June Pack
Election
20.00
orence
,
11 0 7 20.77
Monte Watts
Election
20.00
Beverly en
a ea
119 2 7 22.77
Deborah Berg
Recreation
299.22
11 4 7 22.77
Tamara L. Fricke
Recreation
86,32
119 6 7 22.77
Scott C. Newell
Recreation
180.70
ran on Schmeckpeper
Recreation
11 8 7 22.77
Kingdom Schmeckpeper
Recreation
180.70
Mona L. TuckerHecreaTioff-
t80-70
119 0 7 22.77
Ron Barker
Recreation
180.70
erry TrOOM
Recreation
119 2 7.22-77
Kendall Thurston
Recreation
129.93
it Yerton
ecrea o
11 4 7.22-77
Terry Trebilcock
Recreation
108.27
avi ec
Recreation
11 6 7 22.77
Theresa Madsen
Recreation
185,76
Brenton L. Alger
ecrea ion
119 8 7 22.77
Berta Neely
Recreation
56.49
Judy arson
-
-
Recreation
67 TY
119 0 7.21.77
Idaho First National
Bank
Water & Sewer Income
91190.14
Gary Green or i y-
Telephone
1.12
119 2 7.28.77
Larry V. Scarboaough
or City
Telephone
7.09
regory F�U_or
y
--
Telephone
119 4 7 8.77
Arthur LeTourneau or
City
- -
Telephone
12.69
arren oun or _C`i
Y -_
fie ep one-
-
:14
119 6 7. 8.77
Sumner Johnson
Engineer
1.00
on orey
Mayor
.40
119 8 7. 8.77
Johnny R. Navarro
Councilman
89.65
-
arvinR. o i.ne
Councilman
89 65
120 0 7. 8.77
Kenneth W. Rasmussen
Councilman
89.65
-
chard . Wilms
ounce man
12 2 7. 8.77
Bruce D. Stuart
Work's Supt.
819.83
ewey X. Davis
---
-
ss , or 's up
12 4 7. 8.77
Ricky Dean Crawford
Asst Sewage Operator
320.72
-: T
an m
--
-
-�efir Reader -546.96
12 6 7.8.77
Richard L. Shults
Sewage Operator
819.83
.77
Les et r E� Lilis
- -
-Meter
Reader
SIS --
12 8 7. 8.77
Gregory Walker
Meter Reader
377.63
. =
Gary : Green
Chief of Police
- 82r7-5
120 0 7. 8.77
Larry V. Scarborough
Sergeant
692.28
-i : %7
egory-F: o� yd--
---
a ro an
120 7. 8.77
Void
Void
Void
o.77--
e -L3 rneau --
-
-
-FPro.man--
120 4 7. 8.77
Norman W. Williams
Patrolman
607.87
- .77
arren- aIhoun
-
-
a ro man
655-95
12016 7. 8.77
Jean E. Moore
Clerk -Typist
301.353
a a Riner
---
er- ps
120 8 7. 8.77
Richard P. Donahue
Dog Catcher
277.22
120 -
Herald Cox ---i
y er -
70_ -OO`-
120 0 7.28-77
LaWana L. Niemann
-
Clerk -Typist
545.46
-
n e er
easurer
tr . 7
120 2 7. 8.77
Jenny Schildhauer
Clerk -Typist
350.26
--12Suzan
D. Scarbo-ro-U-6-er
- ist
382.8-5
12o,4 7. 8.77
Mary Jane Breshears
Clerk -Typist
360.53
aron
-
erk-Typist
120 6 7. 8.77
Paula Jean Haffner
_
Clerk-
368.03
0
Meridian City Rall
.7.
Ok
August 1 1977
Amo t
TDate - _-
Purpose
Amount
120 7 728,77
Pamela K. Grossman
Clerk -Typist
363.71
120 7.28-77
John 0. Fitzgerald
City Attorney
-36
120 9 7.28-77
Roger L. Welker
Fire Chief
177.50
120 6--7.-29-.77
Western Service
Cooling System300-00
120 1 7
28.77
Western Service
it „
85,00
120 2F_7-2_9_-7_7
Idaho First National
Bank
Water & Sewer Acco3,346-57
120 3 7.28-77
City of Meridian
Expense
136.59
120 4 7.28-77
Rick L. Richardson
Patrolman
704-59
120 5 7.28.77Intermountain
Gas Companyl
Service
33.06
120 7
2 .77
State of Idaho Income
Tad
Division
--12_0 7 7.28.77Duskins
Janitorial
I
Janitor
200.00
120 U-7.2-9-.77
Colonial Life & Acci
ent 3nsurarce
120 9 7.28-77
Idaho First National
Bank
Federal Deposit
1,795.92
120 6___7_-_2K_77
Vernon Schoen
Bldg. Inspector
53.5-00
120.1 7428.77
Idaho First Ban Control
Service
530.00
120 2 7.2
.77
Tel -Car, Inc.
Service
120 3 7.28-77
Farmer Brothers Co:
Service
60.55
120 .4 7Z8-77
Valley News - Times,
Inc.
Publishing349-98
120 5 7.29.77
Public Employee Retiremeni
System
of Idaho
2,381.77
120 5 7.29.77
Mayne Pump Company
Service
5 .
120 7 7.29-77
Interstate Business Ikui
ent Inc.
Supplies
140.00
120 8 7.29-77
Idaho Transportation
Department
9.60
120 7.29-77
Davis Body Shop
Service
88.00
12050 7.29-77
Idaho Leather Company
Police
23.Y5
12051 7.
9.77
City of Meridian
Trash Raul
32.45
120 2 7.29-77
Treasure Valley Icel4md
Recreation
147.5o
120 3 7.29.77
Meridian Electric
Service
177.10
120 7.29.77
Gibson -Welker For S
es,
Inc.
Service
450.8o
120 5 ?.29.77
Leupold & Stevens, 1c.
Supplies
47.74
120' 7.29.77
Citation Chemical Co
p.
Supplies
96.70
120 7 7
29.77
ZamZows
Sup lies
14.37
*120 7
29.77
Stuart R.Parvin
Don's Shell Service
_
.2j
120 7.129.7
Ma ne Pum Company
Service
58.73
120 1 7.29-77
Phillip B. Sander
Sewer Plant
97.13
120 7
2
Don's Shell Service
Service
78.23
120 3 7.29-77
Meridian Lumber Co.,
Inc.
Materials
42.3
120 4
Modern Printers
Printia
86.70
120 5 7.29-77
Paul's Conoco
Service
7 .10
6
.77
Bodine's Sav-On Gas
Service_
20.71
_120
120 7 7
29.77
Boise Communications
Divi
ion
Radio
51.35
120 7.
9.77
Storey Feed & Seed C
Supplies
72.72
120 9 7.
9.77
Ambrose, Fitzgerald
Crookston
Attorney
1,025.00
120 0 .29.77_
J -U -B Enaineera, Inc
_
_
Engineers
1.109.6o
120 1 7.29.77
Idaho Blueprint & Su
plyCo.,
Inc.
Maps
3$.64
120 2 7.2
.7
Overland Lumber
Material
120 3 7
29.77
Meridian Lanes
Recreation
218.50
4 7.29t77
Idaho S�ortina Goods
Com
Recreation
15.00
_120
120 5 7.29-77
Valley Rebuild, Inc.
Service
14.50
120 6
2
Meridian Electric
Service
_ 124.00
120 7 7.29-77
Mac Tools
_
Tools
77--9
120 8 7.29.77_
Central Office ui
ent
Supplies
5.70
_
120 9 7-29-77
Men's Wardrobe
Police
27.00
120
2 7_..
29.77
Dept. Of Labor Ind
Western Auto Associ
tri
a St
re
Recreation
3.o85.3o
01
5 1. 5
2
DynaSysteme
arts
1 .429.77
Roto -Rooter Sewer Se
vice
Co.
Service
480.00
2 .
MeridianPlumbin
S rvic
70.00
29.77
Bodine Oil Company,
nc.
_
Service
43.37
t
2 .
Void
Van Water & Rogers
3d
Void
29.77
Supplies
448.80
2
Merid
6.60
29.77
Snake River Electric,
Inc
Supplies
6.97
-
_
96.26
Meridian City Hall
.8.
august 1, 1977
emu
120
er
1 7429-77
Date
Western Auto Associa
a Store
Purpose
Supplies
Amount
17.16
120
120
2 7
3 7129-77
29.7
Meridian ass cr
Paramount Utilities,
en
Inc.
Supplies
Supplies
79.70
120
4 7
5 7
29.77
29.77
Liquid120 itInc.
Void
upp le
Void
Void
120
7 7
29.77
General om
Idaho Humane Society
any
Parts
Impounding
t1ttE.ee
32.00
120
9 7
2
29.77
man ii Go.
John & Bill's Servic
Service
Service
28.52
121
1 7429-77
us UrrICe upp y
Meridian Insurance A
ency
Insurance
6,126.00
121
)3 7
29.77
�esocia ion or Idano
Meridian Drug
i
Supplies
84.75
121
)5 7
29.77
Idaho Power uo.
Mountain Bell
Service
Service
49217.13
502.67
The Motion was made
by Jo
Navarro
and seconded by Kenneta
Rasm
ssen that
e bills as read be
Motion passed:
allo
Nava3qro,
ed.
a; Rasmussen ea; Wi iama
yea.
The Motion was made
the Engineers, J -U -B
by Ke
be i
eth Rasmussen
struc
and secondel by J
ed to proceed with t1le award
hn Nalrarro
of
that
Warta Water
Treatment Facilities
Motion Passed:
project
Nav
to
roz
M & Y Construction of Minn
a• Rasmussenyea- W' liam
apoli-,
ea
Minn.
The Motion was made
that the change orde
y Kerneth
be approv
mussen and seconded by Richard
d for the Sewer Reha 'lits
ion project
Williams
for
odding Cleaning Mac
Motion passed:
Ines 1
Navarro,
Change
yOa;
Order #1 in the amount o
Rasmussen, yea; W' li
$33,
, yea
575.00
i
e o ion was made
City Clerk be authorized
Py Jol
lo
n Nays
pay
rro and seconded by Eicher
from Construction Fuids Payment
I Will
Lame that the
1equest #2
or the Sewer Rehabilitation
the amount of $62,84419.
Pr
ject for Rodding Cleaning
achin
s
Motion passed:
Navarro,
yea;
Rasmussen, yea; Williams,
yea
The Motion was made
by Richard
Williams
and seconded bbKe
neth
Rasmussen
Clerk lie
July Payment Sewer
au
ojec
horiz
Stat
d to pay from Ci3n-s-truction
meat #9 the amount o $16,
Funds
73.50
to J -U -B., Inc.
Motion passed:
Navarro,
yea;
Rasmussen, yea; Williams,
yea
_
The Motion was made 17_Kerneth
Rasmussen
and seconded by J
hn Na
acro that
the City Clerk be auhors
to Ambrose, Fitzgerald
d an
ed to
Crookston
pray from Construction Funis
for Water Sewero e
dat
t for
d July 29, 197?
rescinding
--
easements, $39636.50-----
Mo
-
Bruce Stuart, Work's
Supp
., brought
up the bids for a coo
Ling system
for
-
—
the 6 oricc - s Z e artmen
The Council will assist
Building.
ir
selecting
a type of coolibg system.
-
r. Bodine wi nap
members of the Council.
c
e uni
s considered and will contact
th
other
Lights at the park were
discussed.
Additional lights wilL
be c
nsidered
a fier-to- covig
H-ecT--
ear.
0 a
Meridian City Hall .9.
August 1, 1977
Gates for City Park
Liscus
;ad,
The Motion was made
y Richard
Williams and seconded
by Join
NavLrro
that
a es be purc a
Motion eased:
omvi
Navarro,a•
nce Company for ,
Rasmussen,yea; William,
ea
It was pointed out t
at s
eps should
be taken to keep
vehi
les f
om
enterIng at other p
ces
n
p .
ere a ng no o er
adjourned.
us
ess
come before the o
cI ,
e me
Ing stood
I
Marvin Bodine,
res
en o
ounce
es
I
Ulty Mark
cc: M or & Counci
; P
Z. C
mmission;Chief Greeff
Stu
t•Sch
en•
_
Welker;Shults;
Ada Commissio
itzg
rs A
rgld;
HIJ-Ce
um ner;Ann;Hein;AIC;
tree Health Nam a -Me
A;Ad
idi
Zoni
Irri
g;
Wells 9 & 10 P
_ Water T •J
mp &
es Court
Pumph
.HU
use;Water Distributi
= (Crestwood Industrial)
n;Fo
dati
Bonds
n;
1
Future-Ida;Ch
Ins_urance _Fie
ry L
•E. F
e Vi
rst F
lage;Cherry Plaza S
le• 911 Plan; APA W
one
to W
nn—ex7
ter
15 Acre Park;
eatment•
77 Sewer Rehab;
Wat
r -Sew
r Project;
0 7 7, 3 ?- •
Meridian, Idaho
August 1, 1977
The City Council of the City of Meridian, Ada County,
Idaho, met in regular public session at the regular meeting
place of the council in the City Hall in the City of Meridian,
Idaho, at 7:30 o'clock P.M., on August 1, 1977• The
roll was called and the following found to be present:
Don M. Storey, Mayor
John R. Navarro, Councilman
Marvin R. Bodine, Councilman
Kenneth Rasmussen, Councilman
Richard Williams, Councilman
Absent: None
There were also present Herald J. Cox, City Clerk, and
Wayne G. Crookston,; Jr.,, City Attorney.
After the meeting had been duly called to order and
the minutes of the preceding meeting read and approved, the
Mayor announced that one purpose of the meeting was to authorize
the issuance and confirm the sale of $2,040,000 Water and
Sewer Revenue Refunding Bonds of the City of Meridian, Idaho.
The following ordinance was introduced in written
form by Don M. Storey and was read by title. Richard
Williams moved that the rule requiring the reading of
the ordinance three different days be dispensed with and the
motion was adopted by the vote of not less than one-half plus
one of the members of the full council, to -wit:
Aye: John R. Navarro
Marvin R. Bodine
Kenneth Rasmussen
Richard Williams
Nay: None.
The ordinance was thereupon again read by title and
was read in full, after which, pursuant to motion made by
Kenneth Rasmussen and seconded by John R. Navarro ,
the ordinance was adopted by the following vote:
Aye: John R. Navarro
Marvin R. Bodine
Kenneth Rasmussen
Abstained: Richard Williams
Nay: None.
The ordinance was thereupon signed by the Mayor in
evidence of his approval, was attested by the City Clerk, was
numbered and ordered recorded and is as follows:
-2-
ORDINANCE NO. 306
AN ORDINANCE authorizing the issuance
and confirming the sale of $2,040,000
Water and Sewer Revenue Refunding Bonds
of the City of Meridian, Idaho, for the
purpose of providing funds with which
to refund certain outstanding Water and
Sewer Revenue Bonds of said city now
outstanding, providing for the payment
of such bonds, making certain covenants
and agreements with respect to the
security and payment for such bonds and
the use of the proceeds thereof, pro-
viding for the issuance and sale thereof,
and providing an effective date.
WHEREAS pursuant to Ordinance Number 304 adopted by
the City Council of the City of Meridian, Idaho ("City") on
June 20, 1977, a special municipal bond election was held in
the City on July 5, 1977, at which election the following ques-
tion was approved by a majority df the qualified electors
voting at said election:
QUESTION: Shall the City of Meridian,
Idaho, issue and sell its water and
sewer revenue refunding bonds to the
amount of $2,325,000 for the purpose
of providing funds with which to pay
the principal of and interest on
certain Water and Sewer Revenue Bonds
of the City dated October 1, 1975 to
be refunded, to and including their
dates of maturity or principal redemp-
tion in accordance with the advance
refunding plan to be adopted by the
City Council, together with all costs
incurred in accomplishing such re-
funding, as more fully provided in
Ordinance Number 304 adopted on
June 20, 1977?
WHEREAS the City has outstanding certain Water and
Sewer Revenue Bonds, dated October 1, 1975, in the aggregate
0 0
principal amount of $2,325,000, of which $2,040,000 bonds are
optional for redemption on October 1, 1985, at the price of par
and accrued interest to the date fixed for redemption, plus a
premium of 4% of the principal amount of each bond so called
for redemption; and
WHEREAS Section 57-504, Idaho Code, was enacted at the
1977 session of the Idaho Legislature authorizing the issuance
of advance refunding bonds, pursuant to which an advance re-
funding plan may be adopted by a city providing for the invest-
ment and reinvestment of the proceeds derived from the sale of
advance refunding bonds in direct obligations of the United
States of America or other securities, the principal and inter-
est of which are unconditionally guaranteed by the United States
of America, maturing at such time or times as may be required to
provide funds to pay principal and interest due in connection
with the bonds to be refunded or the advance refunding bonds,
or both; and
WHEREAS the City desires to refund $2,040,000 outstand-
Ing Water and Sewer Revenue Bonds of the City, dated October 1,
1975, maturing on and after October 1, 1985, and for such pur-
pose desires to issue a series of refunding bonds, all as per-
mitted under the Revenue Bond Act of the State of Idaho and
Section 57-504, Idaho Code; and
WHEREAS such advance refunding program will result in
reducing the rate of interest and the aggregate amount of
interest which the City would otherwise be required
to pay from the revenues of its combined municipal water system
municipal sewerage system on the outstanding Water and Sewer
Revenue Bonds, dated October 1, 1975;
-2-
0
0
NOW, THEREFORE, BE IT ORDAINED BY THE MAYOR AND COUNCIL
OF THE CITY OF MERIDIAN, ADA COUNTY, IDAHO, AS FOLLOWS:
ARTICLE I
DEFINITIONS
That as used herein, the following terms shall have the
meanings indicated unless the contest otherwise clearly requires:
1.01 "Bonds" shall mean the $2,040,000 Water and
Sewer Revenue Refunding Bonds of the City herein auth-
orized, and in Articles III, IV and VI hereof shall
mean any Parity Bonds hereinafter issued on a parity
with the Bonds under the provisions of this ordinance,
being a portion of the refunding bonds authorized to
be issued by the City at the election held in the
City on July 5, 1977.
1.02 "1975 Bonds" shall mean the Water and
Sewer Revenue Bonds of the City, dated October 1,
1975, which were authorized by Ordinance No. 283,
now outstanding in the amount of $2,325,000.
1.03 "City" shall mean the City of Meridian,
Ada County, Idaho.
1.04 "Cost of Operation and Maintenance"
shall mean all costs reasonably and necessarily
incurred in connection with the operation and
maintenance of the System including repairs and
renewals (other than capital improvements)
necessary to keep the System in efficient oper-
ating condition, the cost of audits hereinafter
-3-
required, fees of the Depository and of any paying
agent, properly allocated charges for insurance
hereinafter required to be carried on the System,
and, generally, all expenses (exclusive of deprecia-
tion) which under general accounting practices are
properly chargeable to operation and maintenance,
in every instance, however, only such expenses as
are reasonably and properly necessary to the
efficient operation and maintenance of the System
shall be included.
1.05 "Depository" shall mean The Idaho First
National Bank in the City Of Meridian, Idaho
If such bank shall become no longer available
to carry out its duties as Depository, the
City shall select a successor Depository bank
which shall be a bank having capital and surplus
of not less than $1,000,000 and which is a member
of the Federal Deposit Insurance Corporation at
the time of such appointment; similar successor
Depositories may be appointed thereafter from
time to time as such appointment becomes necess-
ary. Such successor Depository shall replace
the original Depository as Depository and custodian
of the Refunding Bond Redemption Fund including the
Refunding Bond Reserve Fund hereinafter created and
required to be held by the Depository, and there shall
be paid over to each such successor Depository by its
predecessor Depository all money, funds and
R-1 -q-
other property of every nature then held by such
predecessor Depository under the provisions of
this ordinance, or any subsequent ordinance auth-
orizing the issuance of any Parity Bonds.
1.06 "Escrow Agent" shall mean The Idaho
First National Bank, in the City of Boise,
Idaho.
1.07 "Escrow Agreement" shall mean the Escrow
Agreement dated as of September 1, 1977, by and
between the City and the Escrow Agent pro-
viding for the payment of interest on the Bonds un-
til the call for redemption on October 1, 1985, of
the 1975 Bonds with the proceeds of the Bonds and
other legally available moneys.
1.08 "Escrow Fund" shall mean the Escrow Fund
established in the Escrow Agreement.
1.09 "Fiscal Year" shall mean the twelve month
period used by the City for its general accounting
purposes as the same may be changed from time to
time, initially being a twelve month period beginning
on October 1 and ending on the next succeeding
September 30.
1.10 "Income Account" shall mean the account
known as the "City of Meridian Gross Income Joint
Water and Sewer System Account" established in
Section 3.02 of Ordinance No. 283.
R-1
-5-
1.11 "Net Revenues" shall mean all Revenues
after deducting therefrom all sums expended for
payment of the Cost of Operation and Maintenance
of the System, including all incidental costs,
fees and expenses expended from Revenues so
deposited or withdrawn and properly chargeable
to Costs of Operation and Maintenance.
1.12 "Operation and Maintenance Fund" shall
mean the fund known as the "City of Meridian
Joint Water and Sewer System Operation and
Maintenance Fund" established in Section 3.03
of Ordinance No. 283.
1.13 "Ordinance No. 283" shall mean
Ordinance Numbered 283 adopted and approved
respectively by the Mayor and Council of the
City on October 28, 1975, authorizing the
issuance of the 1975 Bonds.
1.14 "Parity Bonds" shall mean any obliga-
tions which may be hereafter issued on a parity
with the Bonds herein authorized pursuant to
the conditions and restrictions hereinafter set
forth in Article IV hereof.
1.15 "Refunding Bond Act" shall mean Section
57-504, Idaho Code, as enacted by Chapter 237,
Idaho Session Laws, 1977.
1.16 "Revenue Bond Act" shall mean Sections
50-1027 to 50-1042, inclusive, Idaho Code, as
amended.
M
0
6
1.17 "Revenues" shall mean all revenues, income
or profits of any kind howsoever derived directly
or indirectly from water or sewer services, or both,
supplied by the System, and from the use and opera-
tion of the System, including but without limitation
monthly water and sewer service charges, connection
fees collected from and after the date of adoption
of this ordinance, interest received on invested
money and profits realized from the sale of invest-
ments made with the Revenues of the System.
1.18 "Sewerage System" shall mean the same as
is defined in the Revenue Bond Act, and as used
herein shall apply to the facilities of the City
coming within such definition.
1.19 "Sinking Fund Year" shall mean the twelve
month period beginning _September 1 and ending on the
next succeeding .August 31.
1.20 "System" shall mean the public utility
comprising the Water System of the City and the
Sewerage System of the City, the whole constituting
and operated as a revenue producing public utility
for said City, as it now and may hereafter exist
and be improved and extended while any of the Bonds
or Parity Bonds remain outstanding, including all
improvements, additions and extensions made thereto
and including all real and personal property of
every nature owned by the City and used or useful
in the operation thereof, whether within or with-
out the boundaries of the City.
R-1 -7-
1.21 "Water System" shall mean the same as is
defined in Revenue Bond Act, and as used herein shall
apply to the facilities of the City coming within
such definition.
ARTICLE II
BOND DETAILS
2.01 That for the purpose of providing funds with
which to refund $2,040,000 of the 1975 Bonds maturing
on and after October 1, 1985, there shall be borrowed
upon the credit of the Revenues of the System the sum
of $2,040,000.
In evidence of the sum to be borrowed, there
shall be issued the negotiable revenue refunding Bonds
of the City, pursuant to the provisions of Ordinance
Number 304, the Revenue Bond Act, and the Refunding
Bond Act. Interest falling due on the Bonds on and
prior to October 1, 1985, shall be paid from the moneys
deposited from the Escrow Fund into the Refunding Bond
Redemption Fund hereinafter created and, subject to
the rights of the holders of the 1975 Bonds, the Bonds
shall be payable from the Revenues to be derived from
the operation and ownership of the System, as more
specifically provided herein.
2.02 That the Bonds shall be designated "Water and
Sewer Revenue Refunding Bonds", shall be in the total
principal amount of $2,040,000, shall be dated September 1,
1977, shall be in the denomination of $5,000 each,
R-1
-8-
shall be numbered 1 to 408, inclusive, and shall bear
bear interest at the rate of six and twenty-five one
hundredths per cent (6.25%) per annum, payable .March 1,
1978, and semiannually thereafter on the first days
of March and September of each year. The Bonds shall -be
payable as to both principal and interest in lawful
money of the United States of America at The Idaho
First National Bank in the City of Meridian, Idaho,
and shall be numbered and mature serially in numerical
order on September 1 of each of the years as follows:
Bond Numbers
Amount
Year
1
to
14
$ 70,000
1986
15
to
30
80,000
1987
31
to
47
85,000
1988
48
to
64
85,000
1989
65
to
83
95,000
1990
84
to
103
100,000
1991
104
to
124
105,000
1992
125
to
147
115,000
1993
148
to
171
120,000
1994
172
to
197
130,000
1995
198
to
224
135,000
1996
225
to
253
145,000
1997
254
to
285
160,000
1998
286
to
318
165,000
1999
319
to
353
175,000
2000
354
to
390
185,000
2001
391
to
405
75,000
2002
406
5,000
2003
407
5,000
2oo4
4o8
5,000
2005
- 9 -
R-1
0
2.03 Bonds numbered 15 to 408, inclusive, maturing
after September 1, 1986, shall be subject to the right of
the City to redeem the same in inverse numerical order on
that date and on any interest payment date thereafter at
par and accrued interest, plus a premium (expressed as
a percentage of principal amount of each Bond so called
for redemption) of 3% for each Bond so called for redemp-
tion on or prior to March 1, 1989, a premium of 2% for
each Bond so called for redemption thereafter and on or
prior to March 1., 1992, and a premium of 1% for each Bond
so called for redemption thereafter prior to maturity.
Notice of any such redemption shall be given
not less than thirty (30) days prior to the date fixed
for redemption by publication of an appropriate notice
one time in a financial newspaper or journal published
in the City of New York, New York, Chicago, Illinois, or
San Francisco, California, and sent by registered mail
to the place of payment of the Bonds and to the original
purchasers of the Bonds. If any Bond which is called
for redemption is, at the time of such call, registered
as to principal, thirty (30) days notice of redemption
shall be given by registered mail sent to the registered
holder at the address shown on the Registrar's Registra-
tion Books. No failure to give any such notice, or any
defect therein, or in the mailing or publication thereof,
shall affect the effectiveness of the call for redemption
of any of the Bonds to be so redeemed.
R-1 -10-
2.04 That said Bonds shall be signed by the Mayor
and shall be countersigned by the City Treasurer (the
signatures of said Mayor and City Treasurer being by
facsimile), shall be attested by the City Clerk, and
shall have printed thereon the facsimile of the offi-
cial seal of the City. Interest accruing on said Bonds
on and prior to maturity shall be evidenced by coupons
to be thereto attached, which coupons shall be signed
by the City Treasurer by his facsimile signature.
Said officials and each of them are hereby
authorized and instructed to execute said Bonds
accordingly, and the printed facsimile signatures of
said Mayor and Treasurer upon said Bonds and coupons
are hereby authorized as the authorized signing and exe-
cution of said Bonds and coupons by said officials who
shall adopt, as and for their own proper signatures,
their respective facsimile signatures appearing on
said Bonds and coupons.
Said Bonds shall be registrable as to princi-
pal in the name of the holder and with the effect more
particularly set out in the form of bond appearing in
Section 2.05 hereof.
2.05 ,That the Bonds herein authorized and the
coupons to be thereto attached shall be in substantially
the following form:
Number
(Form of Bond)
UNITED STATES OF AMERICA
STATE OF IDAHO
COUNTY OF ADA
CITY OF MERIDIAN
WATER AND SEWER REVENUE REFUNDING BOND
$5,000
KNOW ALL MEN BY THESE PRESENTS, that the City of
Meridian ("City"), a duly organized and existing municipal
corporation in Ada County, Idaho, for value received, hereby
promises to pay to bearer or, if this bond is then registered
as to principal, to the registered holder hereof, in the manner
and from the funds hereinafter provided, the sum of Five Thousand
Dollars ($5,000) on the first day of September, , and to
pay interest on said sum from the date hereof until payment of
principal at the rate of six and twenty-five one -hundredths
per cent (6.25%) per annum, payable initially on March 1, 1978,
and semiannually thereafter on the first days of March and
September of each year, interest falling due on and prior to
maturity being payable upon presentation and surrender of the
annexed interest coupons as the same severally become due.
Both principal of and interest on this bond are payable in
lawful money of the United States of America at The Idaho
First National Bank, in the City of Meridian, Idaho.
This bond is one of an issue of $2,040,000 Water and
Sewer Revenue Refunding Bonds ("Bonds") all of like date, tenor
and effect, except as to date of maturity and option
R-1 -12-
of redemption, issued by the City under the provisions of the
Revenue Bond Act of the State of Idaho, and of Section 57-504,
Idaho Code, for the purpose of providing funds with which
to refund a like principal amount of certain outstanding Water
and Sewer Revenue Bonds of the City. Subject to any rights
existing in the holders of the outstanding Water and Sewer
Bonds refunded by this issue pending the payment thereof, the
Bonds, together with such bonds as may be hereafter issued on
a parity therewith, are payable, after all payments required
to be made in connection with the outstanding Water and Sewer
Revenue Bonds of the City have been made, from the net revenues
to be derived from the operation of the combined public utility
comprising the municipal water system and municipal sewerage
system of the City, the same to constitute and be operated as
a revenue producing public utility for the City, as such system
now and may hereafter exist and be improved and extended, a
portion of which revenues has been set aside as a special fund
identified as "City of Meridian, Idaho, Joint Water and Sewer
Revenue Refunding Bond Redemption Fund", and irrevocably pledged
to the payment of principal of and interest on the Bonds.
Pending the retirement of the outstanding Water and Sewer
Revenue Bonds, interest on the Bonds will be payable from earn-
ings on investments of the Bond proceeds deposited in an
irrevocable Escrow Fund pursuant to an Escrow Agreement between
the City and The Idaho First National Bank, as Escrow Agent. This
Bond does not constitute an indebtedness of the City within the
meaning of any constitutional or statutory limitation of indebtedness,
is not (except as to interest accruing on and prior to October 1, 1985,
R-1 -13-
as described above payable from the Escrow Fund) payable from
or a charge upon any funds of the City other than said "City
of Meridian, Idaho, Joint Water and Sewer Revenue Refunding
Bond Redemption Fund", and the City shall not be subject to
any liability thereon. No holder or holders of this Bond
shall ever have the right to compel any exercise of the taxing
power of the City to pay this Bond or interest thereon nor to
enforce payment thereof against any property of the City,
nor shall this Bond constitute a charge, lien or encumbrance,
legal or equitable, upon any property of the City, except the
above mentioned sources.
The Bonds of the issue of which this Bond is one,
maturing after September 1; 1986, are subject to the right of
the City to redeem the same in inverse numerical order on
that date and on any interest payment date thereafter at par
and accrued interest, plus a premium (expressed as a percentage
of principal amount of each Bond so called for redemption) of
3% for each Bond so called for redemption on or prior to
March 1, 1989, a premium of 2% for each Bond so called for
redemption thereafter and on or prior to March 1, 1992,
and a premium of 1% for each Bond so called for redemption
thereafter prior to maturity.
Notice of any such redemption shall be given not
less than thirty (30) days prior to the date fixed for redemption
by publication of an appropriate notice one time in a financial
newspaper or journal published in the City of New York, New York,
Chicago, Illinois, or San Francisco, California, and sent by
registered mail to the place of payment of the Bonds and to
R-1 -14-
0 0
the original purchasers of the Bonds. If any Bond which is
called for redemption is, at the time of such call, registered
as to principal, thirty (30) days notice of redemption shall be
given by registered mail sent to the registered holder at the
address shown on the Registrar's Registration Books. No failure
to give any such notice, or any defect therein, or in the
mailing or publication thereof, shall affect the effectiveness
of the call for redemption of any of the Bonds to be so redeemed.
The City has covenanted and hereby covenants and
agrees at all times while this Bond, or any Bond of the issue
of which it is a part, is outstanding and unpaid, to fix and
maintain such rates for water and sewer services furnished by
said public utility as will be fully sufficient to provide
for the payment of the interest on and principal of all of
the Bonds as interest and principal become due, to create a
proper reserve therefor, and to provide for the payment of
the expenses of operating and maintaining said public utility.
For more particular statement of the covenants and provisions
securing the Bonds, the conditions under which the holders of
75% of the Bonds may consent to modification of the authorizing
ordinance and the conditions under which parity bonds may be
issued on a parity with the Bonds, reference is made to Ordinance
Number -j06 adopted by the City Council of the City on
August 1, 1977, authorizing this issue.
This Bond and the issue of which it is a part are
issued in conformity with and after full compliance with the
Constitution of the State of Idaho and pursuant to the provisions
of the Revenue Bond Act of the State of Idaho and of the
provisions of Section 57-504, Idaho Code, and all other laws
-15-
applicable thereto, after having been authorized by vote of
more than a majority of the qualified electors of the City
at an election held on July 5, 1977.
It is hereby certified, recited and declared that all
acts, conditions and things required to exist, happen and be
performed precedent to and in the issuance of this Bond have
existed, have happened and have been performed in due time,
form and manner as required by law, that the amount of this
Bond, together with the issue of which it forms a part, does
not exceed any limitation prescribed by the Constitution or
statutes of the State of Idaho, that an amount of the revenues
to be derived from the operation and ownership of the combined
municipal water system and municipal sewerage system of the
City has, together with earnings on investments in the above
described Escrow Fund to be used to pay interest accruing on:the
Bonds on and prior to October 1,.1985, been pledged and will be set
aside into a special fund by the City sufficient for the prompt
payment of the principal of and interest on this Bond and the
issue of which it forms a part, and that, except for the pledge
of revenues to the outstanding Water and Sewer Revenue Bonds
pending their retirement pursuant to stated maturity or
call for redemption on October 1, 1985, the revenues of the com-
bined municipal water system and municipal sewerage system
are not pledged, hypothecated or anticipated in any way other
than by the issue of Bonds of which this Bond is one, and that
this Bond is exempt from taxation, except transfer and estate
taxes, in the State of Idaho.
R-1 -16-
This Bond is by statute made fully negotiable, but
may be registered as to principal only in the manner and with
the effect for which provision is made on the back hereof.
IN WITNESS WHEREOF, the City acting through its
City Council, has caused this Bond to be signed by its Mayor,
countersigned by its City Treasurer and attested by its City
Clerk (the signatures of said Mayor and City Treasurer being
by facsimile) and has caused the facsimile of the official
seal of the City to be printed hereon, and has caused the
interest coupons hereto attached to be executed by the facsimile
signature of said City Treasurer, all as of this first day
of September, 1977.
(Facsimile Signature)
Mayor
Countersigned:
(Facsimile Signature)
City Treasurer
Attest:
City Clerk
(FACSIMILE SEAL)
R-1
-17-
Number
(Form of Coupon)
E
On the first day of , unless the
hereinafter mentioned Bond is then callable for redemption and
has been so called and provision for the redemption thereof
duly made, the City of Meridian, Idaho, will pay to bearer the
amount shown hereon in the manner and out of the funds described
in the Bond to which this coupon is attached, in lawful money
of the United States of America, at The Idaho First National
Bank, in the City of Meridian, Idaho, being interest then due on
its Water and Sewer Revenue Refunding Bond dated September 1, 1977
and numbered
(Facsimile Signature)
City Treasurer
(Registration Certificate)
We, the undersigned City Clerk and City Treasurer
of the City of Meridian, Idaho, do hereby certify that the
within Bond has been duly registered in permanent public record
books kept in our respective offices for the purpose of such reg-
istration, in full compliance with the provisions of Title 57,
Chapter 2, Idaho Code, and laws amendatory thereof, such regis-
tration showing the number, date, amount of the Bond, rate of
interest thereon, the date of maturity, place of payment and the
number and denomination of the attached coupons, and the names
of the purchasers and date of the delivery of the Bond, and
the undersigned City Treasurer does hereby certify that before
the delivery of this Bond he received the proper consideration
!M
R-1
therefor.
hands.
• 0
IN WITNESS WHEREOF, we have subscribed our official
(Facsimile Signature)
City Treasurer
(Facsimile Signature)
City Clerk
(Form of Registration Certificate)
This Bond may be registered as to principal only, in
the name of the holder, on the books of the City Treasurer in
the City of Meridian, which registration shall be noted by the
City Treasurer in the blank below. Upon presentation of this
Bond by a registered holder or by a bank or trust company
authorized to do business in Idaho, with a written request that
it be registered in the name of another person or in the name of
bearer, the City Treasurer shall so register it. While
registered in the name of a holder the principal hereof shall
be payable only to such registered holder or his legal represen-
tative but after registration to bearer this Bond shall again
be transferable by delivery but may be again registered as before.
The registration of this Bond as to principal shall not affect
the negotiability of the coupons hereto attached, which shall
continue to be transferable by delivery.
In Whose Signature
Date of Registration Name Registered of RPai.qr.
-19-
ARTICLE III
FLOW OF FUNDS
3.01 That the City covenants and agrees with the
holders of the Bonds and the coupons attached to the
Bonds that it will not issue arty further bonds or obli-
gations of any kind or nature payable from or enjoying
a lien on the Revenues of the System on a parity with
the 1975 Bonds.
That so long as any of the 1975 Bonds remain
outstanding, all payments required by Ordinance No. 283
to be made into the funds and accounts established in
Article III of Ordinance No. 283 shall continue to be
made.
3.02 That the Net Revenues are hereby pledged to
the payment of principal of and interest and redemption
premiums on the Bonds, and, subject to the rights of
the holders of the 1975 Bonds pending their retirement
pursuant to stated maturity or call for redemption on
October 1, 1985, from the Escrow Fund, the Bonds shall
be secured by a prior and paramount lien on and first
pledge of the Net Revenues. All of the Bonds shall be
equally and ratably secured by said pledge and lien
without priority one over the other by reason of date of
sale or delivery.
That the Bonds shall not be payable from or
charged upon any funds of the City other than the Revenues
to be derived from the operation and ownership of the System
-20-
0 0
nor shall the City ever be subject to any liability thereon,
except that interest accruing on the Bonds on and prior
to October 1, 1985 shall be payable from investment earnings
on the proceeds of the Bonds deposited into the Refunding
Bond Redemption Fund hereinafter created from the Escrow
Fund. No holder or holders of any of the Bonds shall ever
have the right to compel any exercise of the taxing power
of the City to pay any of the Bonds or interest thereon
or to enforce payment thereof against any property of the
City and such Bonds shall not constitute a charge, lien
or encumbrance, legal or equitable, upon any property of
the City, other than the Revenues received from the
operation and ownership of the System, except that interest
accruing on the Bonds on and prior to October 1, 1985 shall
be payable from investment earnings on the proceeds of the
Bonds deposited into the Refunding Bond Redemption Fund
hereinafter created from the Escrow Fund.
3.03 That there shall continue to be credited into
the Income Account all Revenues of the System as promptly
as possible upon the receipt thereof. The Income Account
shall be maintained so long as any of the Bonds remain
outstanding in a bank or trust company which is a member
of the Federal Deposit Insurance Corporation, and the
funds credited to said Income Account shall be expended
in the manner provided in Ordinance No. 283 until the call
for redemption of the 1975 Bonds on October 1, 1985, from
the Escrow Fund, and thereafter in the manner herein
specified.
R-1 -21-
3.04 That there shall continue to be first paid from
the Income Account into the Operation and Maintenance
Fund, on the first day of each calendar month, the amount
necessary to pay the Cost of Operation and Maintenance
of the System as the same become due and payable. The
Superintendent or Manager of the System may accumulate
as a Cost of Operation and Maintenance equitable allowances
for accruals and accumulations of accruals of amounts to
cover the cost of periodic payments of operation and
maintenance expenses, such as, insurance premiums and
expenditures for renewals, replacements and repairs
normally classified as operation and maintenance ex-
penditures.
Payments from the Operation and Maintenance
Fund shall be made by check or draft signed by the Mayor,
City Clerk and City Treasurer after such officials shall
have determined that the amounts of such payments are
properly due and owing.
3.05 That there is hereby established in the Depository
for the purpose of paying principal of and interest on
the Bonds and such Parity Bonds as may hereafter be issued
on a parity therewith a special fund to be kept separate
and apart from all other funds of the City to be known
as the "City of Meridian, Idaho, Joint Water and Sewer
Revenue Refunding Bond Redemption Fund" (hereinafter
sometimes called the "Refunding Bond Redemption Fund").
3.06 That upon the delivery of the Bonds that
portion of the proceeds thereof which represents accrued
-22-
0
interest, if any, shall be paid into the Escrow Fund.
Interest accruing on the Bonds on and prior to October 1,
1985, shall be paid from investment earnings deposited
into the Refunding Bond Redemption Fund from the Escrow
Fund pursuant to the provisions of the Escrow Agreement.
Beginning on October 1, 1985 and in each Sinking Fund
Year so long as any of the Bonds remain outstanding, after
there shall have been transferred from the Income Account
in each calendar month into the Operation and Maintenance
Fund the amounts above required, the City shall, on the
first day of each calendar month, transfer from the
Income Account to the Refunding Bond Redemption Fund
one-sixth of the amount of the interest due on the Bonds
on the next succeeding interest payment date and one -
twelfth of the amount of the principal of the Bonds
falling due on the next succeeding principal payment
date (except that prior to the payment of the first maturing
amount of principal and interest coming due on the Bonds
subsequent to October 1, 1985, such additional or greater
transfers shall be made as may be necessary to assure the
prompt payment of interest on the Bonds on March 1, 1986 and
principal and interest on the Bonds on September 1, 1986).
3.07 That there is hereby established in the Refund-
ing Bond Redemption Fund for the purpose of establishing
a reserve for the purpose of paying principal of and interest
on the Bonds, a special fund to be kept separate and apart
from all other funds of the City, to be known as the
"City of Meridian, Idaho, Water and Sewer Revenue Re-
funding Bond Reserve Fund" (hereinafter s(metim(-s called
the "Remanding Bond Reserve Fund").
3.08 That upon the retirement of the 1975 Bonds
pursuant to stated maturity or call for redemption from
funds in the Escrow Fund on October 1, 1985, moneys
R-1 -23-
remaining in the City of Meridian, Idaho, Water and
Sewer Revenue Bond Reserve Fund established in
Section 3.06 of Ordinance No. 283 shall be transferred
by the City and deposited into the Refunding Bond
Reserve Fund. To the extent that after such transfer
there is on deposit in the Refunding Bond Reserve
Fund an amount in excess of the combined highest annual
principal and interest payments on all Bonds then
outstanding and payable from the Refunding Bond Redemption
Fund, any such excess money may be withdrawn from the
Refunding Bond Reserve Fund and used by the City for
any lawful corporate purpose. If at the time of the
above contemplated transfer into the Refunding Bond
Reserve Fund the amount on deposit in the Refunding
Bond Reserve Fund, after such transfer, is less than the
amount currently required to be therein with respect
to all Bonds then outstanding and payable from the Re-
funding Bond Redemption Fund, after there shall have
been transferred from the Income Account in each calendar
month into the Operation and Maintenance Fund and into
the Refunding Bond Redemption Fund the amounts above
required, moneys remaining in the Income Account shall
be transferred into the Refunding Bond Reserve Fund until
there shall have been accumulated in the Refunding Bond
Reserve Fund an amount equal to the amount currently
required to be therein with respect to all Bonds
then outstanding and payable from the Refunding Bond
Redemption Fund. Money in the Refunding Bond Reserve
Fund shall be used only to pay currently maturing principal
-24-
of and interest on the Bonds whenever and to the extent
necessary to prevent a default.
3.09 That except as above provided beginning on
October 1, 1985, the monthly payments so made into the
I
Refunding Bond Redemption Fund on the first day of each
R-1
calendar month shall be only those hereinabove required
to meet interest on the Bonds payable from the Refunding
Bond Redemption Fund due on the next interest payment date
and the principal due within the next succeeding twelve
month period and the quarterly payments so made into the
Refunding Bond Reserve Fund on the first day of each
March, June, September and December shall be only those
hereinabove required to maintain the Refunding Bond Reserve
Fund in the required amount if money shall ever be paid
out of the Refunding Bond Reserve Fund for the purpose for
which it was created. Whenever Parity Bonds are issued,
the proceedings authorizing the issuance thereof shall
provide that the monthly deposits into the Refunding
Bond Redemption Fund shall be increased by an amount equal-
ing at least one-half of the interest falling due on such
additional Bonds on the next succeeding interest payment
date and one -twelfth of the principal of such additional
Bonds maturing during the next succeeding twelve month
period, if any, and shall provide that the quarterly de-
posits into the Refunding Bond Reserve Fund shall be in-
creased by an amount equal to one -twentieth of the highest
annual principal and interest requirements of such addi-
tional Bonds until the funds and investments in the
Refunding Bond Reserve Fund equal the combined highest
-25-
0 0
annual principal and interest payments on all Bonds then
outstanding and payable from the Refunding Bond Redemption
Fund, to be held as a reserve.
Whenever there is a deficiency in payments
into the Refunding Bond Reserve Fund or, whenever after
the initial accumulation of the full amount required to
be accumulated therein, the amount in said Refunding Bond
Reserve Fund falls below such required accumulation, such
deficiency shall be made up from the money in the Income
Account whenever and to the extent such money is not
needed for payment of the Cost of Operation and Mainten-
ance and for current principal and interest requirements,
regardless of the foregoing limitation on quarterly
payments.
The money in the Refunding Bond Redemption
Fund, and the money in the Refunding Bond Reserve Fund
when necessary, shall be applied to the payment of currently
maturing principal and interest without further instructions.
The Depository and any successor Depository shall make
such arrangement with the paying agent bank as will assure
prompt payment of maturing Bonds and interest coupons when
due to the extent of available funds.
3.10 That all money remaining in the Income Account
each Sinking Fund Year after all payments hereinabove
required to be made in such year have been made and after
all deficiencies existing from previous years have been
remedied shall be regarded as surplus and may be used
by the City for the making of improvements or additions
to the System, for the creation of a special fund to be
-26
accumulated and applied to such purpose, for the payment
of principal of and interest falling due on general
obligation bonds of the City issued for water or sewer
purposes, for the payment of principal, interest and
redemption premiums on junior lien bonds issued for the
making of improvements and extensions to the System,
for the retirement of Bonds payable from the Refunding
Bond Redemption Fund in advance of maturity or for any
other lawful corporate purpose. Any such retirements
so made prior to maturity may be made either through the
purchase of Bonds on the open market at the best price
or prices obtainable not in excess of the lowest price
at which any Bonds payable from the Refunding Bond
Redemption Fund are then redeemable under their terms,
or through the calling of Bonds for redemption pursuant
to the right therein reserved.
3.11 That all money held by the Depository in the
Refunding Bond Redemption Fund, including the Refunding Bond
Reserve Fund above created, shall be held as special and
not general deposits, and all money held in the Refunding
Bond Redemption Fund, including the Refunding Bond Reserve
Fund, shall be held as a special trust fund, the beneficial
interest in which shall be in the holders from time to
time of the Bonds outstanding. All money so held in excess
of the amount guaranteed by the Federal Deposit Insurance
Corporation shall be secured either (a) by lodging with
the trust department of the Depository or with some other
depository approved by the City, as collateral security, direct
obligations of or obligations, the principal and interest of
-27-
0 0
which are unconditionally guaranteed by the United
States of America, having a market value (exclusive
of accrued interest) at least equal to the amount of
such deposit, or (b) in such manner as may then be
required by all applicable state or Federal laws and
regulations regarding the security for or granting pre-
ference in the case of the deposit of trust funds.
Money in the Refunding Bond Redemption Fund
required for the payment of principal and interest
shall at the request of the City be invested in direct
obligations of the United States of America maturing at
least ten days prior to the date as of which principal
or interest falls due. Money held in the Refunding Bond
Reserve Fund portion of the Refunding Bond Redemption
Fund shall at the request of the City be invested in
direct obligations of the United States or any of its
agencies, or in obligations the principal of and interest
on which are guaranteed by the United States. It
shall not be necessary for the Depository to give
security for the deposit of any money which is so
invested. Obligations so purchased shall be deemed
at all times to be a part of the fund for which the
obligations were purchased. Interest accruing thereon
and any profit realized from such investments shall be
ME
paid into the Income Account. The Depository shall sell
at prevailing market prices or shall present for re-
demption any obligations so purchased whenever it
shall be necessary so to do in order to provide money
to meet any payment due from the Refunding Bond Re-
demption Fund, including the Refunding Bond Reserve
Fund.
3.12 Whenever there is sufficient available
money in the Refunding Bond Redemption Fund, including
the Refunding Bond Reserve Fund, to retire all Bonds
then outstanding on the next interest payment date,
or to pay principal and interest to maturity, or appli-
cable redemption date, together with applicable re-
demption premiums, on all Bonds payable from the Re-
funding Bond Redemption Fund remaining outstanding,
the money in the Refunding Bond Redemption Fund,
including the Refunding Bond Reserve Fund,
shall be used for such purpose and no additional pay-
ments need be made into the Refunding Bond Redemption
Fund or the Refunding Bond Reserve Fund unless
necessary to replace moneys lost or otherwise dis-
sipated.
3.13 Each monthly or quarterly payment required
to be made pursuant to Sections 3.06 and 3.08 hereof
shall be made on the first day of each calendar month,
except when the first day of a month shall be a Sunday
or a legal holiday, in which event the payment shall be
made on the next succeeding secular day.
-29-
ARTICLE IV
COVENANTS AND UNDERTAKINGS
The City covenants and agrees with the successive
holders from time to time of the Bonds and the coupons repre-
senting interest thereon, that so long as any of the Bonds
remain outstanding and unpaid as to either principal or
interest:
4.01 That the City will maintain the System in
good repair and working order and will operate it
efficiently and will faithfully and punctually per-
form all duties with reference to the System re-
quired by the Constitution and laws of the State of
Idaho, and that it will make and collect sufficient
rates and charges for water and sewer service
furnished by the System and will segregate and apply
the Revenues derived therefrom in the manner pro-
vided in this ordinance.
4.02 That the City will fix and collect rates,
fees and charges for all water and sewer service
supplied by the System fully sufficient, after
making due allowance for delinquencies in collection,
to provide for the payment of the Cost of Operation
and Maintenance, to provide for the payment of inter-
est on and principal of all obligations payable from
the Net Revenues of the System, including the Bonds
herein authorized, as and when the same become due,
and to establish the Refunding Bond Redemption Fund,
-30-
including the Refunding Bond Reserve Fund therefor
hereinabove required.
4.03 That in order to assure adequate Revenues
to effect maximum security of the Bonds herein auth-
orized and thereby reduce the rate of interest at
which such Bonds may be sold, so far as it may
legally do so, the City will fix and collect rates,
fees and charges for all water and sewer service
supplied by the System which will be fully adequate
and sufficient to make possible the prompt making of
all payments herein required to be made and will
produce in each Sinking Fund Year Net Revenues avail-
able for principal and interest equal to not less
than 1.25 times the amount required to be paid into
the Refunding Bond Redemption Fund for the payment
of principal of and interest on all Bonds payable
therefrom in such Sinking Fund Year.
4.04 That the City will not permit free use or
free water or sewer service from the System to be
given to the City or any department thereof or to
any person, firm or corporation, public or private,
or to any public agency or instrumentality.
The reasonable cost and value of all water
and sewer service rendered to the City, and its various
departments, by the System shall be charged against
the City and will be paid for as the service accrues
from current funds of the City. All payments so made
shall be considered Revenues of the System and shall
-31-
be applied in the manner hereinabove provided for the
application of the Revenues of the System.
4.05 That the City will cause to be kept proper
books of records and account, separate and apart from
all other records and accounts of the City, in which
there shall be made full and correct entries of all
transactions relating to the System. Such books shall
be kept in accordance with standard accounting practices
and procedures customarily used for Systems of similar
nature. The City will cause such books to be audited
annually by an independent certified public accountant
or firm of public accountants and will annually within
one hundred twenty (120) days after the close of each
Fiscal Year file with the Depository, a sufficient
number, but not less than ten, copies of said report
accompanied by a certificate by said accountant or firm.
Each such audit, in addition to whatever other matters
may be thought proper by the accountant to be included
therein, shall include the following:
1. A statement in detail of the income
and expenditures of the System for such
Fiscal Year.
2. A balance sheet as of the end of
such Fiscal Year.
3• The accountant's comments regard-
ing the manner in which the City has carried
out the requirements of this ordinance and
-32-
the accountant's recommendations for any
changes or improvements in the operation
of the System.
4. A list of insurance policies and
fidelity bonds in force at the end of the
Fiscal Year, setting out as to each policy
and bond the amount of the policy, the
risks covered, the name of the insurer and
the expiration date.
5. The number of metered water
customers of the System and the number of
unmetered water customers, if any.
6. The number of sewer customers of
the City.
7. The amount of money in each of the
funds and accounts enumerated in Article III
hereof at the beginning and at the end of
the Fiscal Year and the amount of money paid
Into and expended from each of said funds
during such Fiscal Year.
8. The total dollar amount billed for
water and sewer service during the Fiscal
Year and the average monthly billing per
customer for each class of service.
9. All schedules of rates and charges
in effect during such Fiscal Year.
10. The number of gallons of water
passing through the master meter in such
year, the number of gallons of water used
-33-
0
0
for flushing mains and fighting fires and the
number of gallons of water unaccounted for.
11. A general statement concerning any
events or circumstances which might affect
the financial status of the System.
4.06 That all expenses incurred in the making of
the audits required herein shall be regarded and paid
as a Cost of Operation and Maintenance. The City
further agrees to furnish a copy of each such audit
to the original purchasers of the Bonds and to the
holder of any of the Bonds who shall request the same
in writing, and that any such holder of the Bonds
shall have the right to discuss with the accountant
making the audit the contents of the audit and to
ask for such additional information as he may reason-
ably require. Said books of record and account shall
be open at all reasonable times for inspection by the
holder or holders of any of the Bonds or the duly
authorized attorney or agent for said bondholder dur-
ing normal business hours.
4.07 That the City agrees to procure or cause
to be procured, and maintain, so long as any of the
Bonds or Parity Bonds are outstanding, fire and ex-
tended coverage insurance on all physical properties
of the System normally insured by public utility
companies engaged in the operation of a Water and
Sewerage System, in amounts sufficient to provide
for not less than full recovery whenever the loss
-34-
from causes covered by insurance does not exceed
eighty per cent (80%) of the full insurable value
of the damaged facility. In the event of any
damage to, or the destruction of any building or
facility constituting part of the System, the City
Council shall forthwith reconstruct the damaged
or destroyed portion thereof, or shall replace any
such building or facility with like facilities of
equal or greater capacity, and shall arrange for
the application of the proceeds of the insurance
for that purpose.
The City also agrees to procure or cause
to be procured, and maintain, so long as any of
the Bonds or Parity Bonds are outstanding, public
liability insurance with limitations of not less
than $100,000 for one person and $300,000 for more
than one person involved in one accident to protect
the City from claims for bodily injury and death,
or both, which may arise from the operations of the
System, or any other facilities owned by the City
the Revenues of which are pledged to the payment of
the Bonds.
The City also agrees to procure or cause
to be procured and maintain, so long as any of the
Bonds or Parity Bonds are outstanding, vehicular
public liability insurance with limits of not less
than $100,000 for one person and $300,000 for more
than one person involved in one accident to protect
-35-
the City from claims for bodily injury and death, or
both, which may arise from the operation by the city
employees of vehicles owned by the City and non -owned
vehicles operated for the benefit of the City.
4.08 That the City shall not sell, lease,
encumber, alienate or in any manner dispose of the
System or any substantial part thereof until all
of the Bonds have been paid in full as to both prin-
cipal and interest; provided, that this covenant
shall not be construed to prevent the disposal by
the City of property which in its judgment has
become inexpedient to use in connection with the
System, when other property of equal value is
substituted therefor.
4.09 That the City will complete the construc-
tion of the improvements and extensions to the
combined municipal Water System and municipal
Sewerage System for which the 1975 Bonds were auth-
orized with all practical dispatch and will cause
all construction to be effected in sound and
economical manner.
4.10 That the City will from time to time duly
pay and discharge or cause to be paid and discharged
all taxes, assessments and other governmental charges,
if any, lawfully imposed upon the System or any part
thereof or upon the Revenues, as well as any lawful
claims for labor, materials or supplies which if
unpaid might by law become a lien or charge upon the
-36-
System or the Revenues or any part thereof or which
might impair the security of the Bonds.
4.11 That the City will not hereafter permit
nor grant a franchise for the operation of any
competing Water System or anv competing Sewerage Sys-
tem in the City.
4.12 That the City in order to assure the
efficient management and operation of the System
and to assure the holders from time to time of the
Bonds that same will be operated on sound business
principles, will employ competent and experienced
management for the System, will use its best efforts
to see that the System is at all times operated and
maintained in first class repair and condition and
in such manner that the operating efficiency there-
of shall be of the highest character, and will use
its best efforts to see that the cost of such
operation and maintenance is at no time in excess
of the Revenues reasonably available for the
payment thereof.
4.13 That the holders of the Bonds from time
to time shall be entitled to exercise all rights
and powers for which provision is made in the
Revenue Bond Act, including specifically, if any
of the Bonds shall be permitted to default as to
principal or interest, the right to apply to a
-37-
court of competent jurisdiction to appoint a receiver
for the System who may enter and take possession of
the System, operate and maintain the System, and
prescribe charges and collect, receive and apply the
Revenues arising therefrom in such manner as the
court may direct and as will assure the carrying out
of all the covenants contained in this ordinance.
Such receiver shall be appointed only when request
for such appointment shall have been made by the
holders of not less than forty per cent in principal
amount of the Bonds which are then outstanding, or
by a trustee acting in behalf of the holders of
such percentage of Bonds, and such request shall be
represented by a written instrument or concurrent
written instruments signed by such holders and filed
with the application for the appointment of such
receiver.
4.14 That, subject to the rights of the
holders of the 1975 Bonds pending the retirement
of the 1975 Bonds pursuant to stated maturity
or call for redemption from funds in the Escrow Fund on
October 1, 1985, the Bonds shall enjoy complete priority
of lien on the Revenues and that the City will issue no
other Bonds or obligations of any kind or nature payable
from or enjoying a lien on the Revenues unless
such other bonds or obligations are made subordinate
M
to the Bonds herein authorized; provided, however, that
additional Parity Bonds may be authorized by ordinance
of the City Council and issued on a parity with the
Bonds herein authorized if all of the following condi-
tions are met:
A. (1) The City Clerk files a certificate
with the Depository certifying that the City
is in full compliance with all of the covenants
and undertakings in connection with all Bonds
and Parity Bonds of the City then outstanding
and payable from the Net Revenues of the
System or any portion thereof.
(2) The Net Revenues of the System for
the last complete Fiscal Year next preceding
the adoption by the City Council of the City
of the ordinance authorizing the issuance and
confirming the sale of the additional Parity
Bonds, as shown by an audit rendered by an
independent public accountant employed by
the City, when added to the estimated amount
of the increase in the Net Revenues for the
first full Fiscal Year in which the improve-
ments, extensions, additions or betterments
to the System to be acquired with the pro-
ceeds of the additional Parity Bonds will be
in operation (such estimate to be evidenced
by a certificate of an independent consulting
-39-
0
engineer of recognized skill and experience
in the field of waterworks and sanitary
engineering, which certificate shall be
approved by the Mayor and by resolution of
the City Council), are equal to at least
1.25 times the highest annual debt service
on all Bonds then outstanding and payable
from the Refunding Bond Redemption Fund
and on the additional Parity Bonds then
proposed to be issued.
(3) Such additional Parity Bonds may
be issued only for the purpose of improv-
ing the System, or for the purpose of
acquiring, constructing or providing ex-
tensions, additions or betterments to the
System.
(4) The ordinance authorizing the
issuance of such additional Parity Bonds
shall provide that the last maturity date
of the additional Parity Bonds shall not
be earlier than the last maturity date of
any Bonds theretofore issued and then out-
standing payable from the Bond Fund and
shall provide for fixed serial maturities
or mandatory minimum sinking fund payments
or any combination thereof, in such amounts
as will be sufficient to provide for the
-40-
payment or retirement of all such additional
Parity Bonds on or before their respective
maturity dates.
(5) The payments required to be made
into the various funds and accounts provided
in Article III hereof must be current and,
pending the application of the proceeds of
the Bonds in the Escrow Fund to the call for
redemption on October 1, 1985, of the 1975
Bonds which mature on and after October 1,
1986, that the Escrow Fund is in existence
and the full amount required to be in the
Escrow Fund as of such date is on deposit
in the Escrow Fund.
(6) The additional Parity Bonds must
be payable as to principal on September 1 of
each year in which principal and interest
falls due and payable as to interest on
March 1 and September 1 of each year.
(7) The proceedings authorizing the
issuance of the additional Parity Bonds
must provide that the amount to which the
Refunding Bond Reserve Fund is to be
accumulated be increased to an amount at
least equal to the combined highest annual
principal and interest payments on all
Bonds then outstanding and payable from
the Refunding Bond Redemption Fund,
R-1 -41-
including the additional Parity Bonds so
proposed to be issued, within five years
from and after the delivery of the addi-
tional Parity Bonds.
B. The Bonds (including Parity Bonds) or
any part thereof may be refunded with the
consent of the holders thereof (except
that as to maturing Bonds or Bonds which
are then optional for redemption and have
been properly called for redemption, such
consent shall not be necessary) and the
refunding bonds so issued shall enjoy
complete equality of lien with the portion
of the Bonds which is not refunded, if any
there be, and the refunding bonds shall
continue to enjoy whatever priority of
lien over subsequent issues that may have
been enjoyed by the Bonds refunded, but
no refunding bond may mature on a date
earlier or bear interest at a rate higher
than the corresponding Bond refunded
thereby without the consent of the holders
of the unrefunded portion of the Bonds
then outstanding.
4.15 That the City shall bill each customer re-
ceiving both water and sewer service from the City in a
single bill, will refuse to accept payment for either
service unless payment for the other service is also
-42
0
made, and if payment for either service is permitted
to become delinquent and remain so for a period of
sixty days, will discontinue the service of water to
any premises the owner or occupant of which shall be
so delinquent, and will not recommence the supply of
water to such premises until all delinquent charges
with penalties shall have been paid in full. The
City will do all things and exercise all remedies
legally available to assure the prompt payment of
charges for all service supplied by the System.
4.16 That the City will require the owner,
tenant or occupant of each lot or parcel of land
in the City upon which a building shall have been
constructed for residential, commercial or industrial
use within 300 feet, measured along an accessible
route, of any sanitary sewer line to connect such
building with the sewage collection system of said
City and to cease to use any other method for the
disposal of sanitary or industrial sewage. If with-
in a period of 15 days after the owner of any such
lot or parcel shall have been notified to make such
sewer connection, such connection is not made, the
City will discontinue the service of water to
such lot or parcel and will not recommence supply-
ing water thereto until such sewer connection
shall have been made.
-43-
0
4.17 That in addition to all other rights en-
joyed by the holders of the Bonds, such holders
shall have the right by mandamus or other appropriate
suit or action in any court or competent jurisdiction
to enforce his or their rights against the City, the
governing body thereof, and any officers, officials
and agents thereof, including, but without limitation,
the right to require the City and its governing body
to fix and collect rates and charges fully adequate
to carry out all of the provisions and agreements
contained in this ordinance.
4.18 That all payments falling due on the Bonds
for principal and interest shall be made to the holders
thereof at par and all charges made by the Depository
and any paying agent bank shall be paid by the City.
4.19 That the existing schedule of rates and
charges to be imposed for water and sewer services
rendered by the System shall be considered a mini-
mum while any of the Bonds remain outstanding,
and shall be subject to such increase from time to
time as may be necessary to permit full compliance
with all of the provisions and requirements of this
ordinance, but shall be subject to reduction only
when and to the extent that the Revenues available
for payment into the Refunding Bond Redemption
Fund in each of the two immediately preceding
Fiscal Years shall have exceeded one and one-half
times the total principal and interest payable
from said fund during each such respective preceding
Fiscal Year.
-44-
0
ARTICLE V
SALE OF BONDS AND APPLICATION OF PROCEEDS
5.01 That the sale of the Bonds to Bosworth Sullivan
& Company, Inc., of Denver, Colorado, at the price of par
and accrued interest to the date of delivery is hereby in
all respects ratified and confirmed. Said Bonds shall be
printed and executed as soon as may be and thereupon shall
be delivered to the aforementioned purchaser upon receipt
by the Treasurer of the City of the agreed purchase price.
5.02 That so much of the proceeds of the sale
of the Bonds as represents accrued interest shall be
paid into Escrow Fund. After the payment of the costs
of issuance of the Bonds the remaining principal proceeds
of the Bonds, together with $50,359.22 from legally avail-
able sources shall be deposited in escrow with the Escrow
Agent to be held, invested and applied to the payment of
interest on the Bonds to and including October 1, 1985, and
to the retirement of $2,040,000 of the 1975 Bonds, together
with applicable redemption premium, in accordance with the
Escrow Agreement which the Mayor and City Clerk shall execute
and deliver substantially in the form which is before the
Mayor and Council at the meeting at which this ordinance
is adopted. The Escrow Agreement shall provide that the
proceeds of the Bonds plus $50,359.22 in other legally
available funds shall be held, invested and paid out in
a manner which will achieve payment of interest accruing
on the Bonds on or prior to October 1, 1985, and to
pay principal and applicable redemption premium on the 1975
Bonds falling due as to principal on and after October 1,
1986, pursuant to call for redemption on October 1, 1985.
The obligations in which the proceeds of the Bonds are in-
vested pursuant to the Escrow Agreement shall comply in
R-1 -45-
all respects with the provisions of Section 57-504,
Idaho Code. The Mayor and City Clerk are hereby authorized
to enter into the Escrow Agreement with the Escrow Agent
in the form to be authorized and approved by resolution
to be adopted by the City Council. On and after October 1,
1985, after all the 1975 Bonds shall have become due and
payable pursuant to stated maturity or call for redemption,
and after interest on the Bonds accruing on and prior to October
1, 1985, shall have been paid into the Refunding Bond Redemption
Fund, any investment remaining in the Escrow Account shall be
liquidated and any proceeds of liquidation over and above
the amount necessary to be retained for the payment of
any interest coupons on the Bonds not yet presented for
payment or for the payment of any 1975 Bonds not yet
presented for payment, including redemption premiums thereon
due and payable, shall be paid into the Refunding Bond
Redemption Fund.
5.03 The City recognizes that the purchasers and
holders of the Bonds will have accepted them on, and paid
therefor a price which reflects, the understanding that
interest thereon is exempt from federal income taxation
under laws in force at the time the Bonds shall have been
delivered. The City agrees that it shall take no action
which may render the interest on any of the Bonds subject
to federal income taxation, including particularly any invest-
ment of Bond proceeds in, or purchase with Bond proceeds of,
any securities or obligations of a type and under circum-
stances which would render any of the Bonds "Arbitrage Bonds"
within the meaning of Section 103(c) of the Internal Revenue
Code, as amended. The Mayor and City Clerk are hereby authorized
to execute such documents as may be necessary to assure the
purchasers and holders of the Bonds that the proceeds of the
R-1 -46-
E
Bonds are not expected to be used in a manner which
would or might result in the Bonds being "Arbitrage
Bonds" under the regulations of the United States
Treasury Department currently in effect or proposed.
Such document or documents shall be a representation
and certification of the City and the statements there-
in shall take precedence over and control all invest-
ments of the proceeds of the Bonds, despite any con-
flicting use or investment of Bond proceeds which may
have heretofore or may hereafter be provided by the City
Council. "Bond proceeds" as used above means proceeds of
the Bonds and of the 1975 Bonds.
ARTICLE VI
MODIFICATION
6.01 That the provisions of this ordinance shall
constitute a contract between the City and the holders from
time to time of the Bonds (including Parity Bonds) and
after the issuance of any of the Bonds, no change, varia-
tion or alteration of any kind in the provisions in this
ordinance may be made except as follows.
6.02 That the holders of seventy-five per cent in
principal amount of the Bonds at any time outstanding (not
including in any case any Bonds which may then be held
or owned by or for the account of the City, but including
such refunding bonds as may be issued for the purpose of
refunding any of the Bonds and are not owned by the City)
shall have the right from time to time to consent to and
approve the adoption by the City of an ordinance or ordinances
modifying or amending any of the terms or provisions con-
tained in this ordinance; provided, however, that this
ordinance may not be so modified or amended in such manner
as to:
-47-
Bonds.
(a) Make any change in the maturity of the
(b) Make any change in the rate of interest
borne by any of the Bonds.
(c) Reduce the amount of the principal or re-
demption premiums payable on the Bonds.
(d) Modify the terms of payment of principal or
of interest or of redemption premiums on the Bonds or
any of them or impose any conditions with respect to
such payment.
(e) Affect the rights of the holders of fewer
than all of the Bonds then outstanding.
(f) Amend this Article.
6.03 That whenever the City shall propose to
amend or modify this ordinance under the provisions of this
Article, it shall cause notice of the proposed amendment to
be published one time in a financial newspaper or journal
published in the City of New York, New York, San Francisco,
California, or Chicago, Illinois, and on or before the date
of such publication the City shall cause to be mailed a copy
of such notice to the registered holders of any of the Bonds
and Parity Bonds which are then registered as to principal.
Such notice shall briefly set forth the nature of the pro-
posed amendment and shall state that a copy of the proposed
amendatory ordinance is on file in the office of the City
Clerk for public inspection.
6.04 That whenever at any time within one year from the
date of the publication of said notice there shall be filed
in the office of said Clerk an instrument or instruments
executed by the holders of at least seventy-five per cent
a".
in aggregate principal amount of the Bonds then out-
standing as in this Article defined, which instrument
or instruments shall refer to the proposed amendatory
ordinance described in said notice and shall specifically
consent to and approve the adoption thereof, thereupon,
but not otherwise, the City Council may adopt such amendatory
ordinance and such ordinance shall become effective.
If the holders of at least seventy-five per
cent in aggregate principal amount of the Bonds as in this
Article defined, at the time of the adoption of such
amendatory ordinance, or the predecessors in title of such
holders, shall have consented to and approved the adop-
tion thereof as herein provided, no holder of any Bond
whether or not such holder shall have consented to or
shall have revoked any consent as in this Article pro-
vided shall have any right or interest to object to the
adoption of such amendatory ordinance or to object to any
of the terms or provisions therein contained or to the
operation thereof or to enjoin or restrain the City from
taking any action pursuant to the provisions thereof.
6.0 That any consent given by the holder of a Bond
Pursuant to the provisions of this Article shall be irre-
vocable for a period of six months from the date of the
publication of the notice above provided for and shall
be conclusive and binding upon all future holders of the
same Bond during such period. Such consent may be re-
voked at any time after six months from the date of the
publication of such notice by the holder who gave such
consent or by a successor in title by filing notice of
-49-
such revocation with said City Clerk, but such
revocation shall not be effective if the holders of
seventy-five per cent in aggregate principal amount of
the Bonds outstanding as in this Article defined have
prior to the attempted revocation consented to and
approved the amendatory ordinance referred to in such
revocation.
The fact and date of the execution of any
instrument under the provisions of this Article may be
proved by the certificate of any officer in any jurisdic-
tion who by laws thereof is authorized to take acknowledg-
ments of deeds within such jurisdiction, that the person
signing such instrument acknowledged before him the execu-
tion thereof, or may be proved by any affidavit of a witness
to such execution sworn to before such officer. As to any
Bonds registered as to principal, the ownership thereof
for purposes of this Article shall be established by the
Registrar's registration books. As to any Bonds not so
registered, the amount and numbers of the Bonds held by
any person executing such instrument and the date of his
holding the same may be proved by a certificate executed by
any responsible bank or trust company showing that on the
date therein mentioned such person had on deposit with such
bank or trust company the bonds described in such
certificate.
ARTICLE VII
MISCELLANEOUS
7.01 That immediately after the issuance of the
Bonds herein authorized, a certified copy of this
-50-
ordinance shall be filed by the City Clerk with the
Depository, together with the certificate by the City
Clerk that such Bonds have been so issued and are out-
standing.
7.02 That if any one or more provisions, clauses,
paragraphs, sections or articles of this ordinance or the
application thereof to any set of circumstances shall be
held to be invalid for any reason, such holding shall not
affect the validity or enforceability of the remaining
provisions, clauses, paragraphs, sections and articles
hereof, nor the application thereof to other sets of
circumstances.
7.03 That the Mayor and City Council and the City,
in consideration of the purchase of said Bonds by the
aforesaid purchasers, hereby covenant and agree with the
holders of the Bonds from time to time, that neither
the City nor the Mayor and City Council of the City will
ever waive, or agree to waive, as to the July 5, 1977
bond election, the time limitation provisions of subsection B
of Section 34-2001A of the Idaho Code.
7.04 That all ordinances or parts thereof in con-
flict herewith are to the extent of such conflict hereby
repealed, and that this ordinance shall be published in
one issue of the Valley News -Times, the official Journal
of said City, and shall take effect and be in full force
immediately upon its passage, approval and publication.
7.05 That an emergency existing therefor, which
emergency is hereby declared to exist, this ordinance
-51-
shall be in full force and effect immediately upon
its adoption and approval.
PASSED AND APPROVED This lst day of August, 1977.
APP VED:
Mayor
Attest:
its Clerk %
(Other business not pertinent to the above appears
in the minutes.)
Pursuant to motion duly made and carried, the meeting
adjourned.
Attest:
zCity Clerk
-52-
STATE OF IDAHO)
COUNTY OF ADA )
I, Herald J. Cox, do hereby certify that I am the
duly qualified and acting Clerk of the City of Meridian, Ada
County, Idaho.
I further certify that the above and foregoing.
constitutes a true and correct copy of the minutes of a regular
public meeting of the City Council of said city held on the 1st
day of August, 1977, and of an ordinance adopted at said meet-
ing, as said minutes and ordinances are officially of record in
my possession.
IN WITNESS WHEREOF, I have hereunto subscribed my
official signature and impressed hereon the seal of said city
this 'si-day of v v; 1977.
City Cle t
(SEAL)
STATE OF IDAHO, COUNTY OF ADA,
Filed for record at the requcst of
P%
u2_o"I.' _M. this day of +
CLARENCEA. NTING, Recorder 19
PHH:
X5
7/18/77
-53- ,
..... • IDAHO SURVEYING AND RATING BUREAU, INC
P. O. P0X 1069 130ibE. IDAr.O 63701
STATEMENT OF VALUES
r CO NF1IIPINTI A i,)
IDAHO SURVEYING AND 1:ATiP,G?1'REA", INC.
Boise, Idaho
JLNE 200 _. , 197
GENTLEMEN:
The values listed below are sobnr.aad for the I'll,
1, 1,v`it;L�n.ing
an average rate applicable to the
form attached. To the best of my kno.vLedge and uenef
this I, a 'sue and
correct statement, both as to the totals
and to the distribution between buildings and the
cnntnnts Thereof,
of the 1o0�� insurable values for the
properties indicated, as of MAY 13,-
4
(List separately cash item of vahRc itlsmed,
a td each n;.parately-rwei building or division.)
DESCRIPTION OR LOCATION
VA UL OF
J 11 r.,
I
VALUE OF
0
lrniture d FlztormStocky
I � Alnerp and Iiyvlpm—ant—t—
VALUE OF
rof HS�rs9yndW
A� IN W ID,T, . IFtl1tN7
CITY MALL - 723 KMIDIM STREET
! 910300.
9.1400.
1
FIRE STMON - 716 MMIMIAN MEET
73,873.
NIL
CYTt CARAZZ - W/'S MMIDIA4 BTM. COWM
17.000.
60700.
ft) KDtO
SMM PLMT - 1/3 MILE NJI, CIF CITY
130000.
i 2,000.
I
PUMP ICM - 1501110 I(1"
10009.
t41L
PW tOnS - W/S MMIDIA4 VWET
1,000.
NIL
tom► t=x. - E/S Pt4Z lei. 2ND 6 3RD AT
1,000.
IFIL
CITY PM
I
F ", - oortm Cr 8TH ST " CAMILLA
10090.
NIL
r" tfA= - C DIVISICN A04ACW 8TM MW
NIL
r Avem
11 ww tom
33,333.
NIL
I
TOTALS 1 241,708. 18,YtlOy;
CITY Cf tI0A1
(Name of Insured)
FUPUR-IDA SUBDIVISION NO. 1
Notations JOa result of reviewing plat and deyelo�nt p1n onthalf of
City of meridian.
1. Double frontage lots are prohibited by ordinance except if unusual editions are
encountered. Should be City Council decision on variance or not.
2. With 60' and 80' street rights-of-way as showm the City does not require the additional
5' R/i9 on each side as shown by note.
3. The "scale" of the drawing is not shown.
4. All lot corners are required by Idaho Code to be monumented.
5. Since D is indicated for Taylor Street, meridian Street and Franklin Road on'
"arrow" to the actual drafted center line should be shown.
6. What is current width for sanitary sewer easement thru block 2? If proof is submitted
that easement is less than 16 feet, then I would reconarend a minimum of 16 feet. Be
sure to dimension the ends of the easement to the corners of Block 2.
7. Justify why the "Public" should accept for maintenance all of the North & South
Streets. If justified, then submit reasons why utilities are not provided in W. First
Street and W. Second Street.
8. The water main on Taylor Place can be extended South, West and East and may be required
to serve fire sprinklers in a building. Therefore, said water main is to be six (6)
inch drain.
9. Need to show a bench mark on the sewer plans.
10. The Fire Chief needs to be satisfied as to fire hydrant "non -provision
11. Even though sewer service lines and water service lines are not determinate at this
time, it is still cost effective to estimate and project reasonable locations for
installations of some before street construction to avoid pavement cuts and patching.
Therefore an absolute minismun of four sewer services cued four water services to each
of Block 3 and Block 4, as part of the initial sewer and water is recommended for
the development. ,
12. It is the project engineers responsibility to verify that the specification quoted
for water system material and sewer system material are in accordance "with current adopted
standards of the City.
-13. The Idaho Code required that the plans for the street construction be stamped and signed
by the engineer responsible for their design and preparation. The approval by an
approving agencies does not negate that requirement.
14. Gutter plate only on Meridian Street and Franklin Road as an initial improvement
with some kind of curbing being installed later (if ever) is absolutely unacceptable
on arterial type streets.
15. If is recamrnded that a variance be granted approve the design for W. 2nd St.
without curb and gutter along the West side thereof and for Williams Street without
curb and gutter along the South side thereof.
16. The 12" storm drain pipe on Taylor Street is designed on a grade considerably below
minimum slope for normal scouring velocity. This must be justified by the design
engineer.
17. A standard manhole is to be provided at the junction and at all angle points for
storm drains.
18. No detail review has been made of the irrigation facility but a casual observation
raised an item of concern., The ditch on the West side of Meridian Street is being
pipedwith a 12" diameter C.M.P. At it's North end it is being connected to an
existing 8" diameter pipeline at an open box. This needs to be analysed.
0
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Bonds maturing in the years 1987 to 2005 are subject to prior redemption at the option of
the City of Meridian on October 1, 1986, or on any interest payment date thereafter, at par,
accrued interest, and:
1) a premium of 3% if redeemed October 1, 1986 through April 1, 1989, inclusive;
2) a premium of 2% if redeemed October 1, 1989 through April 1, 1992, inclusive;
3) a premium of 1% if redeemed October 1, 1992, or thereafter.
MATURITY SCHEDULE
{
BOSWORTH
MAIN OFF ICE-95OSeventeenth Street, Denver, Colorado 80202,
Maturity
534- 1177 -CHERRY CRCEK CTR, 368-9361 •ENGLEWOOD, 761-1951
Yield
COI O ZPRIN69 411 OR 0 • 11001 DER 443 5334 GR! El EY,
y
:I 3 lE 4 FT l'J 4D'. PU-CTFBLO, 0 OOD
�� �►,
{��`,C`�7�tl
404 25 2 ENNE41
CI HI NIS )15- 104 A PEN 975-1115 •GREY 6NNE, 634 7781
-77,81
634-77,81
Ic.�
CA_FEK Jet,6010 •LOIS[_ 348721 • SALT LAKE CIT Y, 521-9733
M LM OF_RS NEW YORK SiO C'IC FXCIIANGE
PROVO 377-5000 • NEW YORK, 374-1010 • JACKSON, 733-6126
5.20%
MONTEVISTA, 852-3261 -R,K0, 738 8096 • VAIL, 476-0522
INTEREST EXEMPT
FROM ALL PRESENT FEDERAL INCOME TAXES
IN THE OPINION OF BOND COUNSEL
NEW ISSUE
Rating: Outstanding Bonds Rated
85,000
Moody's "Baa"
6.25%
Rating Applied For
107.49
$2,040,000
CITY OF
MERIDIAN, ADA COUNTY IDAHO
WATER AND
SEWER REVENUE REFUNDING BONDS
Dated: August 1, 1977
Due: October 1, 1986 through 2005;
Denomination: $5,000
Callable as shown below
Principal and semi-annual interest
(April 1 and October 1; first Icoupon due April 1, 1978)
payable at the Idaho First National Bank, Meridian Branch, Meridian, Idaho.
Bonds maturing in the years 1987 to 2005 are subject to prior redemption at the option of
the City of Meridian on October 1, 1986, or on any interest payment date thereafter, at par,
accrued interest, and:
1) a premium of 3% if redeemed October 1, 1986 through April 1, 1989, inclusive;
2) a premium of 2% if redeemed October 1, 1989 through April 1, 1992, inclusive;
3) a premium of 1% if redeemed October 1, 1992, or thereafter.
MATURITY SCHEDULE
SECURITY: All interest on this issue due from August 1, 1977 to October 1, 1985 inclusive,
will be paid by escrowed non -callable direct obligations of the United States Government.
The bonds will be payable, both as to principal and interest occuring after October 1,
1985, solely from, and their payment is secured by a pledge of, and they constitute an
irrevocable and first (but not necessarily an exclusively firsts lien upon, the revenues
derived from the operation of the City's joint water and sewer system, subject only to the
payment of all necessary and reasonable operation and maintenance expenses. Two special
funds identified as the "Water and Sewer Revenue Bond Redemption Fund", and the "Reserve
Fund", have been set up and created with the issuance of the 1975 bonds. Upon the termination
of the 1975 bonds in October 1, 1985, these funds will be transferred over and become known
as the "Water and Sewer 1977 Revenue Bond Redemption Fund"; and at that point shall be
pledged as security for such payment of the 1977 bonds. In addition, the City covenants to
prescribe and collect rates, fees, and charges, which shall be sufficient to produce revenues
to pay operation and maintenance expenses and 1..25 times the amount required to be paid into
ilor nat on leelele ["I'll so r w,. te-1 •vo m he ml able bul 1 utl it I N.. I old rlr,,s noI or, o t., l oen,,11, tlatHme ni o1 al lolll Br hCls Tn.s e, orl 1s Ior
11 ..9 snl j, - ,o nl sl.pri]a sell c ooe, Flf,)roo,o l,l , .. 6 r t'91u U'. ange wl'J .for" El", "e, ., ilL rnnB
l.o n0.l'Y. l a (I:o IJi-.ula aY lt,epnl) .er o eocl ,, v—.r.. .eor" o] W .IV lmo
Approximate
Amount
Maturity
Rate
Yield
Price
$ 70,000
10-1-86
6.25%
5.10%
108.32
80,000
10-1-87
6.25%
5.20%
108.19
85,000
10-1-88
6.25%
5.30%
107.91
85,000
10-1-89
6.25%
5.40%
107.49
95,000
10-1-90
6.25%
5.50%
106.95
100,000
10-1-91
6.25%
5.60%
106.28
105,000
10-1-92
6.25%
5.70%
105.52
115,000 1
10-1-93
6.25%
5.80%
104.67
120,000
10-1-94
6.25%
5.90%
103.73
130,000
10-1-95
6.25%
6.00%
102.73
135,000
10-1-96
6.25%
6.00%
102.81
145,000
10-1-97
6.25%
6.05%
102.30
160,000
10-1-98
6.25%
6.10%
101.76
165,000
10-1-99
6.25%
6.15%
101.19
175,000
10-1-00
6.25%
6.20%
100.60
185,000
10-1-01
6.25%
6.20%
100.61
75,000
10-1-02
6.25%
6.20%
100.62
5,000
10-1-03
6.25%
6.20%
100.63
5,000
10-1-04
6.25%
6.20%
100.64
5,000
10-1-05
6.25%
6.20%
100.65
SECURITY: All interest on this issue due from August 1, 1977 to October 1, 1985 inclusive,
will be paid by escrowed non -callable direct obligations of the United States Government.
The bonds will be payable, both as to principal and interest occuring after October 1,
1985, solely from, and their payment is secured by a pledge of, and they constitute an
irrevocable and first (but not necessarily an exclusively firsts lien upon, the revenues
derived from the operation of the City's joint water and sewer system, subject only to the
payment of all necessary and reasonable operation and maintenance expenses. Two special
funds identified as the "Water and Sewer Revenue Bond Redemption Fund", and the "Reserve
Fund", have been set up and created with the issuance of the 1975 bonds. Upon the termination
of the 1975 bonds in October 1, 1985, these funds will be transferred over and become known
as the "Water and Sewer 1977 Revenue Bond Redemption Fund"; and at that point shall be
pledged as security for such payment of the 1977 bonds. In addition, the City covenants to
prescribe and collect rates, fees, and charges, which shall be sufficient to produce revenues
to pay operation and maintenance expenses and 1..25 times the amount required to be paid into
ilor nat on leelele ["I'll so r w,. te-1 •vo m he ml able bul 1 utl it I N.. I old rlr,,s noI or, o t., l oen,,11, tlatHme ni o1 al lolll Br hCls Tn.s e, orl 1s Ior
11 ..9 snl j, - ,o nl sl.pri]a sell c ooe, Flf,)roo,o l,l , .. 6 r t'91u U'. ange wl'J .for" El", "e, ., ilL rnnB
l.o n0.l'Y. l a (I:o IJi-.ula aY lt,epnl) .er o eocl ,, v—.r.. .eor" o] W .IV lmo
1
WATER AND SEWER REVENUE REFUNDING BONDS
PAGE T1,10 . •
the "Water and Sewer Revenue Bond Redemption Fund", for the payment of principal of and a
interest on all bonds payable therefrom.
Income Account Deposits: A special fund and bank account has been created and is authorized
to be designated and known as the City of Meridian Gross Income Joint Water and Sewer System
Account (Income Account). So long as any of these bonds shall be outstanding, as to any
bond requirements, all revenues derived from the operation of the facilities shall. be depos-
ited into the Income Account.
Administration of Income Account: So long as any of the bonds are outstanding, as to any
bond requirements, the following payments shall be made from the Income Account:
A. Operation and Maintenance Expenses - Firstly, as a first charge thereon, there shall
be set aside each month in a separate and distinct fund within the Income Account, known
as the City of Meridian Joint Water and Sewer System Operation and Maintenance Fund,
an amount from the Income Account which the governing body shall determine to be reason-
able and necessary for the proper operation and maintenance of the facilities.
B. Bond Requirements Deposits - Secondly, and subject to the aforesaid provisions, from
any monies remaining in the Income Account, i.e., from the net income, there shall be
set aside in a separate and distinct bank account known as the City of Meridian, Idaho,
Joint Water and Sewer Redemption Fund ("Bond Redemption Fund").
a) Monthly, commencing on the first day of the month immediately succeeding the delivery
of the bonds, an amount in substantially equal monthly installments necessary to
pay the next maturing interest installment on the bonds and monthly thereafter,
commencing on each interest payment date of the bonds, an amount in six substantially
equal monthly installments necessary to pay the next maturing installment of
interest on the outstanding bonds.
b) Monthly, commencing on the first day of October, 1976, an amount in twelve sub-
stantially equal monthly installments necessary to pay the next maturing install-
ment of principal of the outstanding bonds.
C. Reserve Fund Deposits - Thirdly, and concurrently with the payments required by the
next preceeding paragraph, from any monies remaining in the Income Account, i.e., from
the net income, there shall be set aside in a separate and distinct fund known as the
City of Meridian, Idaho, Water and Sewer Revenue Bond Reserve Fund (herein called the
"Reserve Fund"), commencing on the first day of January, 1976, and quarterly thereafter,
on the first day of April, July, and October of each year, the sum of $10,200 until a
reserve has been accumulated in an amount equal to $204,000. The monies in the Reserve
Fund shall be accumulated and maintained as continuing reserve to be used only to
prevent deficiencies resulting from the failure to deposit into the Bond Redemption
Fund sufficient funds to pay such bond requirement as the same become due. Currently,
the City has accumulated $71,400 in this reserve fund.
D. Use of Surplus Revenues - After the payments previously required by this ordinance are
made, remaining revenues derived from the operation and use of the facilities, if any,
may be applied to any other lawful purpose or purposes authorized by the Constitution
and Laws of the State, as the governing body may direct.
PURPOSE: Thei3proceeds of this issue, together with other funds legally available, will be
used to purchase non -callable direct obligations of the United States Government to be
placed in an irrevocable escrow account. Such escrow account shall at all times be suffi-
cient to pay the interest on the 1977 refunding issue and the principal only of that portion
of the outstanding 1975 issue being refunded, including the prior redemption premium, under
and in accordance with the following schedule:
1977 Refundinp,_Issue: All interest due from August 1, 1977 to October 1, 1985, inclusive.
1975 Issue: —Bonds numbered 58 to 465, inclusive, maturing in the years 1986 to 2005,
inclusive, shall be called for redemption at the Idaho First National Bank, in Meridian,
Idaho, prior to their respective maturities at par, accrued interest, and a premium of
4% of principal, and shall be paid on October 1, 1985, which date is hereby designated
as the "Prior Redemption Date" for said bonds. Principal and interest on the bonds
of the 1975 Issue shall continue to be paid as the same accrues by the City from the
revenues derived from the operation of the City's joint water and sewer system, according
to the original terms of said bonds, until said bonds mature or until the Prior Redemp-
tion Date, whichever is the proper date. Such refunding is being done to allow the
City to take advantage of lower rates of interest.
DEBT SERVICE COVERAGE: For the year 1976, net revenues available for debt service on these
bonds was $279,514, which would cover maximum annual principal and interest requirements of
$208,437.50 (in 1998) by 1.34 times.
AUTHORITY: On Tuesday, July 5, 1977, at a special bond election held in the City of Meridian,
the authorization of refinancing bonds was approved by the voters of the City of Meridian.
The vote was 65 in favor and 1 against the refinancing. The bonds are authorized to be
issued by Sections 1027 to 1042 of Title 50, Idaho Code, cited as the Revenue Bond Act, and
by Section 504 of Title 57, Idaho Code, cited as the Advance Refunding Bond Act.
(:1_'Y OF MERIDIAN, I
�?AiER AND SEWER =ENMFREFUNDTNG BONDS
PAGE THREE
11
THE CITY OF ?yRIDIAN: Located in southwestern Idaho, the City of Meridian is Ada County's
:re:cond largest city and is located ten miles due west of Boise; Idaho's largest city and its
C_p`tal. The City lies in the heart of the famous "Treasure Valley", one of the nation's
r_,st beautiful and fertile agricultural areas, at an elevation of 2,606 feet. Ten miles to
the west o.`_ Meridian lies the City of Nampa, Idaho's fifth largest city. Meridian has
e^:cellent access to major highways (I -80N, U.S. 30 and State Highway 69), rail transportation
(:he 17aicn Pacific traverses the middle of the City), air transportation (ten minutes to
Lrise'sInternational Airport) and is only 435 miles from the seaport of Portland, Orcgon.
Lc_n+^e of its relatively low altitude and its location in a sheltered valley, Meridian has
near -per cct fou: -:-season weather, with mild winters and cool st=er nights. The average
s'n +n•Tm temperature is approximately 40 degrees F. and the average maxl"m temperature is
63 de,�;rce3 F. The average growing season is 177 days, which accounts in part for the large
values cad diversity of the area's agricultural production.
,PWri.dian had its beginnings in 1882 when the first permanent settlers, Jacob and Martha
Cle=rs, arrived in the area. Two years later, John Wilburn built the first house on his
liom_esteid, which became the original townsite. In 1890 the Oregon Shortline spur came to
the area and the Hunter post office was established one mile to the east of the Village.
-n 1893, the post office was moved to the present townsite and the name was changed to
I4dian, because of the Town's location on the Boise -Meridian survey line. 1Sy 1897, the
^Mage had a population of two hundred, and in 1903 the Village of Meridian was incorporated.
0_ince that time and through the 1.950's, the City steadily grew as a thriving hub of a�ri-
L:a ^^ss enterprises. As the suburban sprawl mounted from nearby bustling Boise, the character
rS this one completely agrarian community began undergoing a gradual change, and today it is
finding itself be=ning more and more appealing to industry and distribution business, although
it has not forsaken its longtime affiliation with the farming and ranching community.
"Wile the City's grcemh rate was fairly consistent in the years from 1900 to 1960, its
grc,rh in the last fifteen years has been spectacular. In 1960, the population was 2,082,
in 2970, it was 2,616, and today's population is approximately 5,258.
?_3sessed valuation in the City has more than doubled in the last five years, growing from
^2,324,356, for 1.971, to $6,016,297, for 1976. More and more people each year are realizing
that the City of Meridian is just what its motto proclaims it to be; "A Good Place to Live".
Meridian 1.8 a progressive community that has concern for all age groups, especially its
youth. Th— City maintains twenty acres of park lands, and boasts a large community swi_*�ing
pool which is tmder the direction of Western Ada Recreation District. Another community
projec_s, the Meridian Athletic Association (M.A.A.), operates the Meridian Speedway, a
quarter -mile paved track which is rated as one of the best, and the trickiest, in the Pacific
.'.orthwest. The facility includes a modern 6,000 seat stadium with concession stands and
reotroou , which accommodates from 3,000 to 6,000 racing enthusiasts each night of the sum;ner
rac'rs season. The M.A.A. has donated over $75,000 to worthy causes such as the Easter Seal
Fund, the Tdaho Heart Association, and the Lion's Sight Association, and, in addition, has
given r_ore thrid $100,000 for youth activities in the Meridian area. The community also boasts
Sifteen churches, representing most major denominations, which serve not only the community
religious needs, but also play a large role in the social and cultural aspects of com==ity
life.
The City's close proximity to Boise enables its residents to avail themselves of a variety
of cu?tural pursuits, including museums, a zoo, and performances by the Boise Little
Then`re and the Boise Philharmonic. For recreation, excellent camping, fishing, and boating
are within a short drive of Meridian, and good skiing at Bogus Basin is less than twenty miles
-av .
T':e Meridian School District has an estimated 1975-1976 total enrollment of 7,200, making
it the fourth largest school district in the State of Idaho. The District encompasses an
a_ea -jch larger than the City of Meridian and adjoins the Boise School District on its
ee-strra boundary. The District consists of not only the City of Meridian and its more rural
^xrrounding areas, but also some residential subdivisions within Boise's City limits. The
District operates four schools within the City limits of Meridian, including a new $3.2 million
hi -h school complex, and seven elementary schools in various other locations throughout the
District.
Teere are also enportunities for higher education for Meridian's residents within a short
crive. Ten miles to the west, in Nampa, there is Northwest Nazarene College, a four-year,
co-educational, liberal arts college serving over 1,200 students. To the east in downtown
Boise is Boise State University, the State's largest institution of higher education.
;ier9.dian is blessed with the presence of light industrial firms that are both diversified
nd ecologically compatible with the environment. Within the City limits are the following
fires: 1) Boise Cascade Corporation's Manufactured Housing Plant (producing modular single
rrstdencs -ad multiple family living units); 2) Wyeth Laboratories, Inc. (manufacturer of
S.M.A. 5-25 infant formula); 3) Chandler Supply Company (one of the largest building supply
aTh.olesalers iii the Pacific Northwest); 4) Meridian Concord Company (processor of high-density
frulit juice concentrate from locally grown and out-of-state fruit); and, 5) Old World Arts,
Inc. (manufacturers of natural wood doors and quality furniture). In addition, Boise Cascade
has located its Building Materials and Services Division in the City. Located in close
proximity to Meridian is the Trus -.Joist Corporation, a manufacturer of fabricated roof
supports for commercial and industrial construction.
CITY OF MERIDIAN, IDAHO
'WATER AND SEWER REVENUE REFUNDING BONDS •
PAGE FOUR •
Meridian is the center of agri-business for the surrounding area, with a large raw milk
collection and transportation center operated by the Grade A Milk Producers, Inc., and
several large feed and seed firms. The City has two banks, the Farmers' and Merchants'
State Bank and branch of the Idaho First National Bank, and a Savings and Loan Association,
First Federal Savings.
Meridian presently has a full range of retail establishments to serve the area's shopping need
A weekly nevapaper, the Valley News -Times, which serves the people who live in the western
part o` Ada County, is published weekly.
7.aterrourta3n Gas Company has been serving southern Idaho and the Meridian area with natural
gen ser,7tcs since 1956. Since that time, nearly $50,000,000 has been invested by the company
to develop its distribution system. Most of the homes in the Meridian area use natural gas
and the company bias added more than 1,016 service lines in the area since January, 1.970.
Electric power is supplied to the area by the Idaho Power Company, with corporate offices
:La Boise. The company serves 20,000 square miles of territory, owns sixteen hydro -electric
9aneratjM9 stations, and has almost 20,000 miles of transmission lines.
Ada Coctnty is the commerical and governmental heart of the State of Idaho, with an estimated
1976 population of 140,000 people. Boise, its largest City, is the State Capitol and the
headquarters of many.United States Government agencies, which perform supervisory and admini-
strative functions in the State. In addition, Boise is the headquarters for many growth
companies including Boise Cascade Corporation,'Chandler Supply Company, Morrison-Knudsen
Company, Inc., J.R. Simplot Company, Trus -Joist Corporation, Albertson's, Inc., and Ore -Ida
Foods, Inc. Boise is also the financial and banking center of the State of Idaho, because
the State's largest banks, the Idaho First National Bank, the First Security Bank of Idaho,
a*rd the Bank of Idaho, maintain their corporate offices there.
_71E WATER AND SEWER SYSTEM: The City of Meridian has successfully operated its own water and
facilities for many years. The City installed its first water tank in 1910 and built its
first sewage treatment plant in 1919. Since that time, the City has expanded and improved
both systems to meet the needs of its citizens. The facilities to be built with the proceeds
of this bcud issue and federal and local grants, are designed to serve the City's needs until
1995, at the City's present growth rate.
The project planning area is a nine square mile area bordered by Ustick Road on the north, Ten
Mile Poad on the vest, Overland Road on the south, and Locust Road on the east, and this area
includes the City of Meridian and land not presently annexed to the City.
77he design population selected for the proposed project was 21,500 persons. That design pop-
elation reflects an existing population of approximately 5,300 persons, plus a projected
twenty-year increase of 15,500 persons. Presently there -are existing platted and planned
res4dentlal developments in the planning area that accomodate approximately 2,650 additional
resid,r.tial. dwellings for an estimated 9,000 additional persons.
In addition to�t'r_e project planning area, there is a supplemental growth area of three square
miles, which is adjacent and due west of the project planning area, in which the City plans
to eventually provide water and sewer services, but not under the proposed project, as outlined
above. lais second phase of construction will service an estimated 5,375 additional persons,
but implementation of this plan will not occur until the City's growth requires it and that
need 1-s projected to be approximately ten to twenty years away.
TAE WATER AND SEWER TITROVEMENT PROJECTS:' The City has been constructing various portions
of these crater and sewer improvements since delivery of the bond proceeds of the 1975 issue
to it, and expects final completion of all projects by January 1, 1979.
The water system improvements are now 95% complete, with actual project costs falling within
the original engineering estimates for those water projects. A summary of the monies expended
an the water system are as follows:
Items Bid to Date
Elevated Storage Tank
Wells No. 9 and 10
Slater Distribution System
Elevated Tank Foundation
Pimp and Pumphouses
Total Bids to Date
Construction Contingencies
Total Estimated Construction Cost
Engineering
Lands and Rights of Way
Administrative, Legal, Etc.
Total Estimated Project Cost
$ 339,958.90
90,973.91
599,819.11
50,130.12
140,791.00
$1,221,673.04
2,326.96
$1,224,000.00
175,000.00
1,000.00
5,000.00
S1:405,000.00
CITY OF MERIDIAN, IDAHO •
WATER AND SEWER RE� REFUNDING BONDS
PACT, FIVE
THE WAT7R AVL SEWER TMPROVEMENT PROJECTS: (Continued)
he City of Meridian shall receive stare and federal grant monies to aid it in the construction
Of sero r projects, from either the Environmental Protection Agency (EPA), the Economic Devel-
cpmc,it Admini.otrati.oa (EDA), or state environmental agencies. Under the EDA grant programs,
fif=ty per cent of the allowable costs of a project are funded by the local governmental entity
(tile City) and fifty Tier cent are funded by EDA. With EPA -approved programs,allowable costs
of a project are split three ways: seventy-five per cent of the funds come from federal monies
(.PA), :'i'mteen per cent of the funds come from state funds, and ten per cent come from the
1`acal gnvernmcntal funds (the City). The status of the various portions of the sewer syn -cm
!n-orovem2rr_s are is follows:
A) The Se-7er L_ine_Rehabilitation Project (EPA Project) is designed to reduce the amount
of infiltration in older seder lines, and thus increase the efficiency of the present sewerage
areatnt plant. Bids have been awarded, the cost of the project ($199,400) is within the
City's original cost estimates, and a5 of July 1, 1977, the project is 107 complete.
B) Because of a delay in the receipt of final approval by the EPA and state regulatory
agencies of the location of the new plant's discharge point, and the water quality standards
t:o he applied to the new tretm.:nt facility, the construction of the new Waste Water Treatment
Par_ili.t (EPA Project) has not commenced. However, final approval has now been received andM
bilis for the nc-i treatment plant will be received by the City on July 26, 1977. The estimated
total cost of this facility is 53,000,000 and it is estimated that the plant will be completed
^nd in service by .7enuar7 1, 1979. Until that time, the City will continue to operate i.ts
c•_ist'ng treatment facility.
C) The ccn9tructicn program for the new Sewer Interceptor Lines has been divided into
*hree phases, a, fo1io-rs:
1. EDA Project - the project will construct extensions to existing sewer lines within
the City. The bid has been let in the amount of $108,898.10 (within budget) and
the project is 34% complete as of July 1, 1977.
II. EPA Project - the project is designed to construct an outfall line of approximately
13,000 feet in length from the old sewer plant to the new treatment facility.
The estimated cost of the line was $600,000. Bids were received on July 11, 1977
and thn estimated completion date for this line is April, 1978. The winning bid
was $438,000; $162,000 under engineering estimates.
ITI. FDA Project - the project will construct the major portion of the sewer outfall
lire, proposed in the original plan of the City. Design is essentially complete,
but the size of the project shall be scaled to the amount of original bond proceeds
remaining and available to the City after the costs of all other projects have
been ascertained. Preliminary estimates by the project engineers indicate that
Phase III will be as extensive as originally planned, and reduction in the scone
of the project is expected. The estimated cost of the Phase III project is
$1,300,000 with the City taking bids in the Fall of 1977. The completion date of
these lines should be the Fall of 1978. Phase III is an important contract to
the City, because EDA reimbursements to the City will not commence until the final
contract for the completion of the total project (Phase III) has been let.
WATER AND SEWER SYSTTIM REVEWF.S AND E7?ENDITURES: Pursuant to the provisions of Title 50,
Section 1.028 of the Tdaho Code (The Revenue Bond Act), State law requires of Idaho munici-
palities that ;;,iter and sewer "services... shall be furnished at the lowest possible cost"
and "no city sh=31 operate any works primarily as a source of revenue to the city...". Consis-
trnt �.ith this Statute, the policy of the City Council of the City of Meridian has been to
T— intain rates and charges for both its water and sewer services at a minimal level in recent
years. For exar-nle_, prior to 1973 the City charged no hook-up fees for either water or sewer
service, and in the years 1973 and 1974 the City only charged $100 per sewer hook-up and S100
per water service hook-up. The user fees for sewer service in the years 1972-1974 were only
$2.25 per month for single family equivalent users, and the average water bill was only $3.00
per month per single family equiyalent.
SUMMARY OF REVENUES OF WATER AND SEWER SYSTEMS2
1972 - 1977
1 Infon:ation on the Projects supplied by the Firm of J -U -B Engineers, Inc., Nampa, Idaho,
Project Engineers for the City of Meridian
2 Statistics taken from the unaudited Ceneral Ledger of the City of Meridian; the "Audited
Fin.?.ncial Statements for the Year Ended December 31, 1975", City of Meridian, prepared by
Smith, k;
CITY OF MERIDIAN, IDAHO
RATER AND SMTER REVENUE REFUNDING BONDS
'PAGE SIX . •
WATER AD SE7,TER SYSTEM REVENUES AND E_YPENDITURES• (Continued)
WATER AND SEWER FEES
Water User Fees: $2.75 per month (IMinimlm bill for 1,000
S :iter Fool:—up Fee: $250.00 per tap gallons or less)
Scuor User Fees: $3.50 per month
Se�7er Hook—up Fee;: $350.00 per hook—up
Even with the increases in water and sewer rates and charges, in 1975, the cost for the service
to the average cuotomer still remains low. The annual bill for sewer service is $42.00, and
the average annual water bill is estimated to be approximately $70.00 per year, per single
family equivalent unit. The average family in Meridian will pay approximately $112.00 annually
for CO --pieta water and sewer service.
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p
V 'O M ul N N M O
fl}
CD O v1 � M N C� rl N
Vl
e -a CO Cn N r �O V V C>a
N
�O t� CO O N M CO M O N
n
61
r1
m
ur
V Y1
61
m
F
W
G
N H
X
W m
H H
W
as a
u 3
W
3 v]
m W
u
U
G
I I
m
I I
F
rd
W
m M
m m
H
H
L
v W
o o
u
s
U U
m m
N
U
m C C
U
m
m
m
u m m
+J i+
u
u❑
a +?a
v
H
u
u
u
m
H H
W
W
N
W
W U U
H
H
H
G
m m
UJ M
^_1
H0
W
W
>1
6 8 9
6 Fes.
H
a
m
m
u
c)
7
W
O
C] 6 6
Pa C4
to
v]
U
U
N
V Y1
e;ZTY OF MERIDIAN, IDAHO
5,500
111,133
11,200
CATER AND SE1dER P -14J, REFUNDING BONDS
SEVEN
1,sm
•
- Water
PAC n
25,000
23,543
1,457
CITY OF MERIDIAN,
IDAHO
173,407
15,000
WATER AND SEWER
FUND
T'9 ning and Lift Stations -
Water.
STATMfrNT OF RE9ENUH AND
MVENDITURES
11,650
(650)
YFAR ENDED DECaMER
31, 1976
$ y98L65R
2,000
1,954
46
�'uzaace Pvmpa - Se.rer
Over
35.000
5,000
2,134
(Under)
Uzccr Trearm-nt
Bud et
Actual
Budget
Onerating Revenues:
(167)
S'e•zer Treatm,�nr.
136,520.93
1>^tovad'r'=rar Fales $
135,000
$ 167,156
$ 32,156
Ur;k-un Fena - (Mater
40,000
56,000
16,000
Pierer. and Equipment Sales
40,000
24,083
(15,917)
Fe•+-ir Service Chirges
68,000
89,135
21,135
i:o "c»up Foos - Seder
564. 00
80, 17024.2
^oral Operating Revenues 8_339
1 0(L0
416 54'
S 17,54
0^gating E'rp2nae3 before Depreciation:
Pm-al,�yce Benefits
5,500
111,133
11,200
9,396
1,sm
Ac-.i.nistr:arion and General
- Water
Pion -Operating Expenses:
25,000
23,543
1,457
A.^)inistrat ion and General
- Seger
173,407
15,000
14,099
901
T'9 ning and Lift Stations -
Water.
Trttal Non -Operating Expenae,s
11,000
11,650
(650)
and fAft Stations -
Sewer
$ y98L65R
2,000
1,954
46
�'uzaace Pvmpa - Se.rer
176,936
35.000
5,000
2,134
2,866
Uzccr Trearm-nt
38.700
177,756.66
100
2- 6 7
(167)
S'e•zer Treatm,�nr.
136,520.93
100.01;
20,000
26,778
(6,778)
Customer Accounts - Water
97.9;
1971
50,614
36,806
13,809
Customer Accounts - Sewer
1970
65,709
2y500
10.403
(7.`)031
Total Operar.inrg Expenses
before D�im-er_iati.on
S
llt,2ly
$ 137,030
S 5,38e
I'at Oreratin,3 Income
bn£orn Depreciation
$
196,586
$ 279,514
$ 82,928
T. (I Pn-nreciati.on
-0-
17,829
Net Operating Income
$
196,S86
$ 261,68:1
$ 65,099
i'er,-�;rer3tipg Income:
Ir:'rreet
5,500
111,133
105 633
Total Income
$ 202,0v6
$ 372,818
$ 170,7ay
Pion -Operating Expenses:
Interest Eypc.nae - Revenue Bonds
-0-
173,407
(173,407)
Invest.nt Service Charge - Reserve
-0-
446
Per Cent
Trttal Non -Operating Expenae,s
S -0-
S_1731853
S(173,6531_
liar Gala to Retained Earnings
$ 202,086
$ y98L65R
_(31121)
1".". COLLECTIONS:
CITY OF MERIDIAN, IDAHO
TAX COLLECTION HISTORY
Amount
Mills
Amount
Per Cent
YF.^
Levied
Levied
Collected
Collected
1976 $
1.88,656
35.000 $
187,179.63
99.2v
1975
176,936
35.000
176,351.90
99,6/
1974
3.77,100
38.700
177,756.66
•100.4.°;
1973.
136,667
35.706
136,520.93
100.01;
1972
99,419
29.000
97,364.42
97.9;
1971
81,766
32.650
81,645.39
99.81%
1970
65,709
28.270
65,738.96
100.02
"lx OF MERIDIAN, IDAHO
ITATEB AND SikFEut REV''W, &EFUZiDING J10NI)S
PAGE' EIC3 •
CITY OF ?'BIDLM. IDAHO
u;orzsx x_�::�Yvos
r (1976)
_Taanaver
L^t*tatn
201.1 Telephcna Coaman7
Ids;.� Pc�c� cct-:;any
r _ -r_ tR.,r•�_� cos Cr -3 an7
C: nc d-- ? t sactt erl Housing,
ac.
^_:ri7o Oil A3soCiaticm, Inc.
(77,-r i A !,I!!- Prcdre^rs
7.977.
7.972
7 9.7.3
'974
.".9 75
7976
1971
72
1973
7974
�ryll
'976
HISTORY OF ASSESSED VALUkTION
AaSenscyl
VaI.�. a rirn
Ada Cotmr7, Idaho
$143,280,442
162,1/.4,005
179,723,755
201,852,619
224,305,163
246,896,335
ohtaincd from
r�L
Estimated Assessed Valuation
Increase
Deezease)
$18,863,013
17,579,750
22,L28,S64
22,452,544
22.,591,173
(' t7 of Meridian, Idaho
2,324,9_`i6
3,428,24.5 $ 1,103,889
3,827,573 399,333
4,576,223 748,660
5,359,927 783,689
6,015,297 656,370
Ada Cotmfv, Idaha
$349,737
160,871
107,4-4!,
98,831
89,432
78,947
54,224
GI, JJ
40,095
Per Cash
Incre_nna crease
Population History and Projection.*
19 0 71,000
1.460 93,000
1970 112,C00
7976 140,000
7480 149,000 (projected)
1990 177,000 (projected)
the 7.976 Annual Financial Statement of Ada Cotmt7, Idaho
Lt[7 of N.eridian, Idaho
Pomuaticn H stpt7
1950
1,810
1965
2,L14
I970
2,616
1972
3,973
1976
5,^58
1977 fest.)
5,580
!�chnnl Earo1L^.ent `ferid±.= Soint School District No. 2)
1970-71
3,585
1971.-72
4,492
1972-73
5,003
1973-74
5,641
1974-75
6,4110
1975--76
7,200 (estimated)
ce3r
771
2.972
1.973
1474
:.975
1976
'977 (6 months)
Build?a3 per. -:its
Nfurnbar o= Permits
233
326
362
253
369
366
153
Cnnstruction Cost
,2,064,450 .
2,929,095
6,091,500
3,668,231
9,047,947
8,982,969
1,072,479
47.49u
1.!.65
19.56`.
17. Li
CM OF MERIDIAN, IDAHO
MATER AND S�tMRE TE REFUNDING BONDS
PAC ?lMrl
Utilities
0
Meridian Exchange
Business and
Residence Phones
2,670
3,087
3,297
3,537
3,734
4,149
(six mos.)4,290 C6 mos.)
CITY OF MERIDIAN, IDAHO
STATEN aIT OF REVEMJE A.ND E-ULNDITJRiES
GENERAL MM
YFAR ENDED DECEM ER 31, 1.976
Revenue:
L'a;<eS
Licenses and Permits
Ped,tral. Shared Revenue
Yom✓ Enfercement - School Patrol
Liqun Apportionment
Caur.t Re�enua
c1 1. E:9 Tax
Ad --t County Fees
Car.bage and 1;efuse Collecr.ion
ii.scCllaneous
P.efunda and Reimbursaments
Totall Rwicnue
1'xpendituros;
City Council
Ah:linict:-ati.ve Expense
'F -nanse
E C'c ons
FICh tsnense
Other Salaries
Of-ficr. rqui.pment
Emoloyee Benefits
LegeFees
Other Ccneral Covernment
`r-intin2
C,enr-ral Government Building
Administration Office - Police
Police - Z'atrolman
?lice - Office
Pnlice ® J-111. Expense
7o'.i.ce - Traffic Control
PoUc. . elenhone
L'ol.icc o Cnw,%r�jn1.caC.ion3
Felice Personnel Training
Police - School. Patrol
"'Lice - Equipment - School Patrol
^,uilding Inspecrions
ct-1cH1. Inspections
E;nrrgoncy Service - Civil Defense
Animal Conr.rol and Shelter
SCrC^.t ., ghfillg
Pcblic Unr!cs Ad:ninistracion
Pu%1!iC `'r, , - 1c9
Covernmental Functions
Capital Out1aV
Tot.,a1
Frees® of Revenues over Expenditures
Dater
Electric
Year
Power
1971
_Meters
1,17.6
4,485
1972
1,150
5,270
1973
1,189
5,989
1974
1,305
6,774
1975
1,452
8,377
1976
1,659
9,171
:.977
(four months) 1,739
9,807
0
Meridian Exchange
Business and
Residence Phones
2,670
3,087
3,297
3,537
3,734
4,149
(six mos.)4,290 C6 mos.)
CITY OF MERIDIAN, IDAHO
STATEN aIT OF REVEMJE A.ND E-ULNDITJRiES
GENERAL MM
YFAR ENDED DECEM ER 31, 1.976
Revenue:
L'a;<eS
Licenses and Permits
Ped,tral. Shared Revenue
Yom✓ Enfercement - School Patrol
Liqun Apportionment
Caur.t Re�enua
c1 1. E:9 Tax
Ad --t County Fees
Car.bage and 1;efuse Collecr.ion
ii.scCllaneous
P.efunda and Reimbursaments
Totall Rwicnue
1'xpendituros;
City Council
Ah:linict:-ati.ve Expense
'F -nanse
E C'c ons
FICh tsnense
Other Salaries
Of-ficr. rqui.pment
Emoloyee Benefits
LegeFees
Other Ccneral Covernment
`r-intin2
C,enr-ral Government Building
Administration Office - Police
Police - Z'atrolman
?lice - Office
Pnlice ® J-111. Expense
7o'.i.ce - Traffic Control
PoUc. . elenhone
L'ol.icc o Cnw,%r�jn1.caC.ion3
Felice Personnel Training
Police - School. Patrol
"'Lice - Equipment - School Patrol
^,uilding Inspecrions
ct-1cH1. Inspections
E;nrrgoncy Service - Civil Defense
Animal Conr.rol and Shelter
SCrC^.t ., ghfillg
Pcblic Unr!cs Ad:ninistracion
Pu%1!iC `'r, , - 1c9
Covernmental Functions
Capital Out1aV
Tot.,a1
Frees® of Revenues over Expenditures
S (14316) $ 76666 S 3 614
Wes
(Under)
Budvet
Actual
Bud¢et
$ 173,000
$ 183,029
$ 10,029
46,430
53,635
7,205
28,086
27,02'+7
(1,039)
6,824
6,824
20,000
21,083
1,083
15,000
19,653
4,653
5,000
1.0,132
5,132
18,000
26,300
8,300
7,000
9,186
2,186
1,600
8,594
6,994
9,000
8,974
(2 6)
_6,cu)0
9,031
3031
33'i12U,O
S 383,488
S 47 548
$ 12,000
$ 12,000
25,000
23,070
1;930
3,000
2,319
681
1,000
1,000
8,000
7,262
738
20,000
13,438
6,562
1,000
1,000
14,600
14,729
(129)
10,000
6,672
3,328
7,500
6,788
712
4,000
1,865
2,135
17„280
11.,115
6,165
16,500
16,232
268
48,67.0
44,41.4
4,206
4,000
2,241
1,159
500
3i7
183
25,000
20,805
4,195
1,200
1,006
19�a
1,700
950
'150
10,150
3,385
6,765
10,000
10,403
(403)
500
220
280
12,500
15,115
(2,615)
15,000
14,175
87.5
500
500
3,300
3,206
94
16,000
13,793
2,2.07
2,000
2,000
6,000
5,824
176
6,000
5,618
382
40,5}O6
45,133
(4,227)
7,000
4,727
2,273
S 3015,822
S 43 9:31i
S (14316) $ 76666 S 3 614
CITY OF MERIDIAN, IDAHO
SIATFR
AND SE-JER REVENUE REFUNDING BONDS
PAGE T_'i i?
CITY OF r1ERI1IANl_nnA COUN?'Y, IDAHO
FINANCIAL SIATEMENT --
(As of
August 1, 1977)
Ratio To
Actual Assessed
Per Capita Valuation Valuation
Actual
Valuation (Estimated) $32,822,133
-
Ascca ed Valuation, 1976 (18.33%) 6,016,297
Direct
Debt (.ncl"ling This Issue) 2,325,000
$442.18
7.087 38.6.5%
Direct:
rnd Ove�lappi_ng Bonded Debt 3,599,100
$684.50
10.97`0 59.827
Population,
1976 - 5,258
_0_VERLAPPIN_G DEBT_
Assessed
Self-
Net
Valuation
outstanding Supporting
Overlapping
Issuer (1976)
Debt Debt
Debt
L'arir''i
Joint S.D. No. 2 $ 43,193,679
$ 9,225,000 $ -0-
$1,171,500
?est =
Ada RPore_atJon Dist. 18,672,216
40,000 -0-
12,900
'da conamy,
T? -ho 246,896,336
4,500,000 -0-
109,700
CITY OF_MERIDIAN,
IDAHO
MATER A -NO SEWER SY:TIL-'`i
DEBT SERVICE REQUIREMENTS POR
OUTS'LAaDING BONDS INCLUDING
THIS ISSUE
April 1
October 1
Total Annual
Year
Interest
Principal and Interest
Pavment
3977
$
$ 54,017.92
$ 54,017.92
1973
86,178.75
111,175.75
197,357.50
J979
85,303.75
110,303.75
195,607.50
390
84,428.75
114,428.75
198,£,57.50
1931
83,378.75
113,378.75
196,757.50
1982
82,328.75
117,328.75
199,657.50
1983
81,103.75
116,103.75
197,207.50
19.34
79,878.75
119,878.75
199,757.50
1915
78,478.75
118,478.75
196,957.50
086
63,750.00
133,750.00
197,500.00
190
61,562.50
141,562.50
203,125.00
1983
59,062.50
144,062.50
203,125.00
1989
56,406.25
141,406.25
197,812.50
1990
53,750.00
148,750.00
202,500.00
1991
50,781.25
150,781.25
2017562.50
1992
47,656.25
152,656.25
200,312.50
1993
44,375.00
159,375.00
203,750.00
29M
40,781.25
160,781.25
201,562.50
1_095
37,031.2.5
167,031.25
204,062.50
1^96
32,968.75
167,968.75
200,937.50
1997
23,750.00
173,750.00
202,500.00
1.993
24,218.75
134,218.75
208,437.50
1999
19,213.75
184,218.75
203,477.50
KOO
14,062.50
189,062.50
203,125.00
201
8,593.75
193,593.75
202,187.50
2702
2,812.50
77,812.50
80,625.00
2003
468.75
5,468.75
5,937.50
2004
312.50
5,312.50
5,625.00
2005
156.25
51156.25
5,312. SO
Total
$1,307,193.75
$31661,816.67
$4,969,615.4-2
ITCALT"71: The legality of this issue will be approved by the law firm of Chapman and Cutler,
11 o, ;o, Illinois, whose unqualified legal opinion will be printed on the back of each bond
Lt tha expense of the City. The firm has not investigated nor verified, independently of
rhe e-,i--,:.r.-.tar, any of the information contained in this offering circular and assumes no
sporsibilir;y for the accuracy, completeness, or fairness of any statements made in connection
-;4th any purrhaca or sale of the bonds.
"_ABLE STAT72: In the opinion of, bond counsel, the interest on these bonds exempt from
y
taxation 'oc'ac United States under presently existing laws, regulations, decisions, and
interpretations, and exempt- from taxation by the State of Idaho, except transfer and estate
DELT.VHRI: On or :about August 16, 1977.
rl'3
7/14/77
t�
Adu'iSx'S@7Rl t.
p..+`7 A„
n l .,,.,
MUM
U . 4aiM ,I)y tin t"M rlrrti Cunt r C -", p
i's;J /:,'i ` 'U •te r?, Coux.':2y L7f Ada, Make Of fe?_ l'O, ho:: canner rcIppyl to nq
s n; y,•°J'i '-^-"1 i?F PT9T,'ltl 11TH" •Ftarr 2CT' by V`?.'#?ll7h ia. yea.,..., I On
i
(;i'ky Of P L^i"i!`:: COCLEiSv of Ada, Eipg8e'p? IBM "' m._oC.,'
to f-3 "Fl— P!
The i_croo3 to this Agrooment, in e.onkj!de.rfltion of tizo mvttr'.l
arid tiR oX ;yaOTTO M cut t?C!`_`oin. ,8.. reo as follolve:.
Tl„„ t t4'3,3 cmerf nne-,j telephone system Oornmonlp l.ra.e '. n r ! t`? ; 911
Syn.+tr'7 0 be in th"I mw rF4IR_^CC"1C. ` C^,ntvr Lo
J
rf.... icaex P, wt%zte (,f F£i.,)ho, e.hall be J.P. efoct fcim via ri-�'! p tr!-,,, b,r
t• v ) V O -y of Jnaaun7T. 1978. Tha Aleve- inn i'irn l L-* ic'. er ^, to
C''3 I'"`�`'C toe nl� `iel.e..ytL�I,Y„ rlpngE'P3 i:') r,:.mc,,ontB of tib'_ mc-zv,_,.. rl n p: e.,.
thri C. ,W,":7 vAll F>rovido t^: O they P.leri?lian l s „ ps..t. a 2t caro -ll
the cl:; my for the eentlpm^^.t i
? e t7 C 11 On tioMi :*.'t forth belmy, phis it—AlW.ation costa, olid e.(Uiinmcnt.....
is Ion wO Yi mor. Mn Mt;a tha Emergr.A!cy ')-1b T�'e:7hT' � flti^stcln:
i f U T IRKN•T. COOT Ltlrrt•.gA�'T
SRO Set o°” COO
P '3Aflcd that the rilleridltl'T'r ire tai 7.;L'ict Ails Bill l)^
F-,^ i llrn eff $2,009.0ii 1>this encl fuhire acquisitlons oC OrjLcipmort.
pl'r3 'i C,_B(itr3n ) ire, Dif;tlT(a. 1 1 pro'vi+lo 14"s own °ti ? .'U :_`L"0 1a la,'•.
i_re-ni1v . "n6:ed, r rented or pti ebanott i -'n the fi3hr0
M.
�in,l» tia3 h' oritif.en Pf-°ci T'omrir2 etid_ll mr-C full -om;pen-at, vl
ox utas^,laMon cf thi' cqugpment cot foreis is p—,
T7,
r"3't t'i-, ,ac.. Rda? a FL -P, D'st.rict altnld e.ase,lmT tii+" fatal c^a.a c^,'
C' , a ncT-)rc 'c nr' rcEluj ocd 1.-,y ttia re'derni Communicationo Co<.amirolon for
'tho nao of tho Pml—go -y 911 ` olophonni Sy"ctem anti relntc'l o-joiP mEan'.
v.
''" h"t t}pn O.i?:at b9 ]-:l!lii]':f: f:.i7CE) Cii 01.1 equipment £^.t fo:lh In para -,-y c7ll [°
i'_7..M1`)lc-. i� S.C��GdT.^.u.ton and F,IP a,ll 1;� izai;fl�"93�y"Rtfi� in P. se! param cojtrD.,'"a bz;i. c;!
tho Ffr�3
Vd,
That tha iil(,rfliar: Piro i?intxfct i , ronnonf Ale and ch -01 ts,kc tho
'y stcn, to isrocmre nnl maintain ncdequaitri linhility inBurnneo for
tl.') g .c:^mct)cy tall'rclephc c `.y-�tnan incl ii'i ralntcrt colvipment nr; tho h*r ;
vrrl portablo to tla ; pi;. o nA 3ftic=t, in ae.cd,i€ton, € dequato linbilit-7 i:..
T,.pi.nj lirp r+r...11_'C't.1 and mniGitnlra±?d for tits (am�i1r'Ci1CC of tlac°' :. r':cntn rn,'YI empinyc-
inclurlo fim-.,ntt6 nr; 's'el?ltt.-1 :o the Ffliorgem-v i k i 'Teic;'phon-,, PS -,- +e;i9
.: hat th ci "A,. R lnn T 41-n nft;tvj% t ,;,Fall h),'("
d,Y)dc h armlcn:, V'ncl i* f"c In "t'
V , .,'r d 077 Plvo-� i i ` 'C Ji; fal, f0.' emv cla Il 13?7e, )Ftl 3";ftii j:;t -
or, :,',.^s aC,x)neirir^s hl, ronron of the nc(fdlgrovcc3 of thn livont3 n •:l
cr-i-i ,l o7n.eo of tits i'!z e Wit—jet c -r tka.- Fire Distri »in ftailu> o to pc-2":orm ivn:!',.
t2 trfom, of VAs Agr-)emciet, in, lua.9af,k; attorne °a fem. and c ats,
;7II.
1:;
■
et.iS� r° C,s'rie1 gait, 3 to �a contuinc l In thi3 written (!ojjtract :�hAiiT t � vak4e3 Ee<_
c:0".tt"L,L'.i Rl'?V rot bn en:,,-L.od , 7i`,orifffi.:, f•^, �.: -.'j C'.: n..,«�.
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to tht 3 An c xR z'3.
114.
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County on thi.. (Inn fAnd y", r fIrpt nboJC}
ADA COUNTY T OART) OF 5"...T,:,. "3
14R,R113IAN F11O; DISTRr T
�aJi34rr�e rI➢ �!nri SWORN to befo-o nye tb.11 dr ,
iYu$,I r� Yut�Iar dor Iclrabio .
11C :`1?.nr? tt
STATE OFIDAHO)
: ss.
"'COUNTY OF ADA )
On this day of August, 1977, before me, the
undersigned, e. Notary Public in and for said State, personally_
apneared MARVIN R. RODINE, known to me to be the person whose
name is subscribed to the foregoing instrument and acknowledged
to me that he executed the same.
IN TvITNESS WjjEpFOF, I have hereunto set my hand and affixed'
my oE'icial seal the day and year first above written.
tzA,,;
��//y Public mor Idaho i'
Resi,Uence: Meridian, Idario.'