HomeMy WebLinkAboutOrdinance No. 300ORDINANCE NO. 300
AN ORDINANCE CREATING AND ESTABLISH1I1u 6k2CIAL I1L'!i0VM0VT
DISTLICT REVOLVING FU1tiD NULM2'R :-N ; OF `SIB CITY 3111 L.';U.:',EL,
MONTy'ZA, TO SECU!iE THE PAMIXT OF BODD6 'Iv ll tier t?ialll' yZD
INT + 'EST THEREON, INCLUDING SPECIAL I11-110VMIMIT lilSXxtiICT i?'O.
67; QUID SPECIAL 11<H-R0VMM1U D16TIUCT6 1I i ? 'lEt, CRZ TED; 4M
TO 2URCHASE PROPERTY LT FJI? DELIik?UZIT 12 TAZLEa OR ?aj26S-
MFZT6 U 6AID SkECIAL Ilalx'OUiMiT 1)I6TEICT6 ZD ON :iCCOULT
WHEREOF THEBL ARE OR AUY BE pITr.CSTAIiylia G SPLCIaL IIL-idJV;1413ZT
DISTRIC'T' BODW s7ti W"lui.AhI26 Jai ihT1';1i&32 TH + YEOL .
BE $R OTDAINED BY THE CITY ,;OUNCIL 01' THE CITY OF
LAU`.tiE L; 1? ON .S ANA :
Section 1. That in order to secure prompt payment
of any special improvement district bonds or warrants, or in-
terest thereon, issued in payment of improvements to be made
in any special improvement district in the City of Laurel,
Montan°-, including Special Improvement District No. 67 and
special improvement districts hereafter created, there is
hereby created and established Special Improvement District
Revolving Fund No. 1 of the City of Lauxel, lJontana.
Section 2. Fox the purpose of providinS funds for
such revolving; fund, the City Council
(1), May in its discretion from time to time transfer
to said revolving fund from the General Fund of the City of
Lauxel, 1Iontana, such amount or amounts as they deem nece ;:wry
to secure the prompt payment of the bonds and waxy: ants , and
interest thereon, to be issued b` any special impxovement dis-
triot in the City of Laurel, Montana, including Special Improve-
went District No. 67 and all otht-r special improvement districts.
hereafter created.
(2) Shall, in addition to such transfer or trans-
fens from said general fund, leVy and collect for such revol-
ving fund each gear, in addition to all other taxes, a tax on
all of the taxable propextT in the City of Lauxel, Montana,
equal in amount to the delinquencies in the payment of Special
assessments and interest thex eon during the year immediately
preceding; such levy, together vith such transfer, not to ex-
ceed in any one year five per teat, of the principal amount of
the the then outstanding special im;;: rovement 6 istr ict bonds and
warrants, as Provided under Chapter 24 of the 1'?L s of ?;Iontana,
1929.
Section 3. '°dhenevex there is an amount in said xe-
volvinL fund in excess of Lhe amou?:t 'hicin the Council deems
necessary for the payment or xedem;Dti,)n of ma.turi l ? bonds or
warrants and interest thexeon, the uaid City Uoiu-icil may
(1) 3y vote of all of its members at a meeting
called for that pur1.ose, order such erce zs, ja any part t'Lexe-
of, transferred to the Genexal Fund of the City of Laurel,
Montana, only in the event that none of the special improve--
ment district bonds affected by the Revolving Pund, remain
outstanding and unpaid; or
(2) Use such excesE. ox wry, part trieaeof, for the
purchase or pxoperty at sales for delinquent taxes and assess-
ments, or both, or which ma,. have been stxuc'L: oaf and sold to
the County of Yellowstone for delincquen'c taxes ox assessments,
or both, and against 'v,,hich -pxopexty tl.exe then may "oe any un-
paid assessments for special imr?xovements, inc7.uEin;,'- S'.Decial
Improvement District lto. 67 _no other districts hereafter
N".
exeated, on account whereof there areoutstandinL special
improvement district bonds or waxyants, of the City of Lauxel,
Montana.
Jeotion 4. That all oxd:Lnances or paxts of ordi-
nances in oonfliet tivith the texas of tl?iis or:, nanee, care
hereby repealed.
6ecti.on 5. An emergency being hereby declared to
exist, this ordinance shall be in full force and exa'ect fxom
and- after its passage and a-p,gxova- 1.
-'aseed by the Council oy the Cit- of i auxel, Llontt' a,
this 19th day of Lugust, ww. ;u. 193Q.
JUD:
Jaraps ?ucexa
.A ,-w : El a'i .
My 516T E.
???xyAvxy al, ,U?Lz?.,lx?l; alp ??vx?,?a??,cE
Bo
county of Yellowstone. )
?. ?. itiLney, being duly sworn accordij-LL: to I&VJ
deposes € nd says: rho he is the duly appointed, qualified
and acting City Cleric of Laurel, Montana; that on the 20th c-ay
of August, 1930, in compliance vith the orders of the Council
of said City of Laurel, he published Oidinanee 110. 300 passed
and adopted on the 19th day of August, 1930, by the Council of
said City of Lauxel by posting a full, true and corxect copy
thereof on the front of the City Mall in said City of Laurel.
T. A. ii i gney
Subscribed and sworn to before me this 21st day of
August, 1930.
(SEAL) i3. price
loo ary Yu c or a a e o
Montana.
Residing at Laux el , Mon'u ana .
Lly Collimission expires Oct. 25, 19M)