152 Interim Warrants
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ORDINANCE NO. 152
AN ORDINANCE 'AUTHORIZING THE ISSUANCE OF INTERIM WARRANTS AGAINST LOCAL IMPROVEMENT
DISTRICT NO.1 FOR MERIDIAN, IDAHO; PRESCRIBING THE FORM OF SAID WARRANTS; PRQVID!.
ING FOR THE PAYMENT OF THE PRINCIPAL AND. INTEREST THEREOF; PRESCRIBING DETAILS IN
CONNECTION THEREWITH AND DECLARING AN EMERGENCY.
WHEREAS, the City of Meridian in the County of Ada and State of Idaho, on Sep-
tember 13, 1965, adopted a resolution declaring the intention of the City Council of
the City of Meridian, Idaho, to construct sanitary sewers, with the necessary man-
holes and appurtenances, along certain public sewer easements and in parts of certain
streets within said City and to create Local Improvement District No. 1 for Meridian,
Idaho, and caused publication of notice of intention to construct sanitary sewers,
with the necessary manholes and appurtenances, and to create said district, as re-
quired by law; and
WHEREAS, a protest meeting to consider protests against said improvements-o~
the creation of said Local Improvement District No.1 for Meridian, Idaho,- wa~ held
as required by law on October 4, 1965, at eight o'clock P.M., in the City Hall of
the City of Meridian; and
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WHEREAS, certain protests were filed with the City Clerk prior to saidprotes~
meeting and certain persons appeared before said City Council to protest ag~inst ~' ~
said improvements or the creation of said Local Improvement District No. 1 for - <',
Meridian, Idaho; and
WHEREAS, said protests were not made by the owners of more than two-thirds of
the abutting, adjoining, contiguous and adjacent lots and lands within said proposed
improvement district; and
WHEREAS, the Mayor and Council of said City considered said protests severally,
and after due consideration thereof, severally denied and disallowed said protests; and
WHEREAS, the City Council of the City of Meridian, Idaho, by Ordinance No. 150,
passed November 1, 1965, has created Local Improvement District No. 1 for Meridian,
Idaho, for the purpose of constructing sanitary sewers with the necessary manholes and
appurtenances along certain public sewer easements and in parts of certain streets
located within said Local Improvement District; and
WHEREAS, said City Council has provided for assessing the costs against the lots
and parcels of land in said improvement district; and
WHEREAS, said City Council has duly let the construction contract in the manner
provided by law; and
WHEREAS, aaid contractor is prepared to initiate cOnStruction in said Local
Improvement District; and
WHEREAS, the City Council of said City of Meridian has determined and does
hereby determine to issue and sell installment improvement bonds to be hereafter
issued by said City to pay for said improvements and construction; and
WHEREAS, said Council has determined and does hereby determine to issue an in-
terim warrant or warrants against said District payable to said contractor, or other
proper person, upon estimates of the City Engineer, which warrants, together with the
interest due thereon at the date of the iasue of said bonds, shall be redeemed and
retired from the proceeds of the sale of such bonds.
NOW, THEREFORE, BE IT ORDAINED BY THE MAYOR AND COUNCIL OF THE CITY OF M~IDIAN,
IDAHO:
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Section 1. The City Council of the City of Meridian, Idaho, does hereby author-
ize the City Treasurer to issue interim warrant or interim warrants against Local
Improvement District No.1 for Meridian, Idaho, payable to the said contractor, or
other proper person, upon estimates of the City Engineer, bearing interest at the
rate of 6% per centum per annum from date until paid, which warrant or warrants
shall be approved by the Mayor and City C~erk of said City of Meridian.
Section 2. Said warrant or warrants, together with the interest due thereon
from the date of issue of said warrant or warrants until paid, shall be redeemed and
retired in numerical order from the proceeds of the sale of said installment improve-
ment bonds.
Section 3.
Idaho and of the
interim warrants
Each warrant shall be issued pursuant to the laws of the State of
City of Meridian, Idaho, and each warrant, together with all other
theretofore issued against said Local Improvement District No. 1
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for Meridian, Idaho, shall not exceed 90 per centum (90%) of the value of the
work done for the said D~strict based on estimates of the City Engineer of the City
of Meridian, Idaho, made on or before the date of issuing said warrant.
Section 4. Each warrant shall be registered in the office of the City Treasurer
and any transfer thereof must likewise be registered in said office.
Section 5. Said warrant or warrants shall be in substantially the following
form :;
"INTERIM WARRANT
Caty of Meridian, Idaho
Office of the City Clerk
The Treasurer of
The City of Meridian
No.
S
Interest S
Total S
Meridian, Idaho
196_
The City Treasurer of Meridian, Idaho, on or about the thirtieth day after the
effective date of the sale of the Installment Improvement Bonds payable from Special
Assessments for the costs and expenses of the improvements in Local Improvement
District No. for Meridian, Idaho, will, upon call by said City, pay to "
,or order, the sum of
DOLLARS ($ ), together with interest thereon at the rate of per
centum ( ~) per annum from date until paid.
This warrant and the interests thereon shall be redeemed and retired from the
proceeds of sale of said Installment Improvement Bonds.
This warrant is issued pursuant to the laws of the State of Idaho and of the
City of Meridian, Idaho, and this warrant, together with all other interim warrants
theretofore issued against said Local Improvement District No. for Meridian,
Idaho, does not exceed per centum ( %)of the value of the
work dODe for said District based on estimates of the City Engineer of the City of
Meridian, Idaho, made on or before the date of issuing said warrant.
This warrantia .registered in the office of the City Treasurer and any transfer
thereof must likewise be registered in said office, and may be transferred by
registered assignment only.
~e holder of this warrant
Idaho, in any event, except to
aforesaid and to the extent of
City of Meridian, Idaho.
shall have no claim against the City of Meridian,
the extent of the funds created and reoe~veq by as
the Local Improvement Guarantee Fund created~~_the
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Da ted this day of
Treasurer of the-cIty of Meridian, Idaho,
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196 ,and duly regis.t'ered bY....'The/C:i,~~.
andliUmbered . . . ......-."' :-. :. -:...:3
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By Order of the City Co~nc.:U.""..
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APPROVED:
City Treasurer
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Mayor
City Clerk
(Seal)
FORM OF ASSIGNMENT ON BACK OF WARRANT:
"The within and foregoing interim warrant No.
ment District N.____for Meridian, Idaho, is hereby
set over unto
to the terms and conditions of said warrant.
, issued in Local Improve-
sold, assigned, transferred and
or order, subject
DB. ted this_day of
196_.
Owner
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The within and foregoing assignment of warrant No. . mes.ed mm Lpca~
Improvement District No._____for Meridian, Idaho, ~een duly registered in
the name of the above assignee this _____day of , 19 .
City Treasurer
"
Section 6. That the officers of the City be, and they hereby are, authorized
and directed to take all action necessary or appropriate to effectuate the provisions
of this ordinance.
Section 7. All by-laws, resolutions and ordinances, or parts of by-laws, reso-
lutions and ordinances, in .conflict with this ordinance, are hereby repealed.
Section 8. That should the courts of this or any other state or of the United
States declare any section, provisions, paragraph, clause, sentence, phrase or part
thereof of this ordinance invalid, unauthorized or unconstitutional or in conflict .1-=..
with any other section, provision, paragraph, clause, sentence, phrase or part there-
of of this ordinance, then such decision shall affect only the section, provision,
paragraph, clause, sentence, phrase or part thereof declared to be unconstitutional,
unauthorized or invalid; and shall not affect any other part whatsoever of this
ordinance. The Mayor, and the City Council of the City of Meridian, Idaho, hereby
declare that they would have passed this ordinance, and each section,provision,
paragraph, clause, sentence or phrase hereof irrespective of the fact that anyone
or more of the sections, provision, par~graphs, clauses, sentences or phrases or
parts thereof be declared invalid, unauthorized or unconstitutional.
Section 9. That by reason of the fact that certain areas within the City of
Meridian need local improvements, it is hereby declared that an emergency exists,
that this ordinance is necessary to the immediate preservation of the public peace,
health and safety, and that it shall be in full force and effect from and after its
passage, approval and publication as provided by law.
PASSED by the City Council of the City of Meridian, Idaho, this 7thday of
February , 1966 ~
APPROVED By the Mayor of the City of Meridian, Idaho, this 7th
1966.
day of February,
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APPROVED:
GJp, ~NG\R'i
. Mayor
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