HomeMy WebLinkAboutOrdinance No. 485F
O=11FA E Nc , 485
1§
AN ORDINANCE i'RESCRII'jl! G VII: ?'OI?I.1, DE'I.III7A'iTIOi4`, A": j IAA in''
12 ur BONDS CF ?)i'ECIAL II,,IPROVEINLE DIS21MICT NO. 80, AM,
HOVIDING F01
'-t f I?'T' nI, ? D j'A r. r..: -„j AiID :''L,.il'i'xCiyi =x' D L'
.? _.? .. ?T? : D ? SAL1 .DiyD S.
B13 IT 8.12,3 LV!;D - Y T%E CIiY CCU CIL CP CI?Y CF LAUREL,
.G'L': 1 rilJli i
. ?d u P it is provided by Resolution No. 90$, entitled,
"A Resolution Creating 6peeial Improvement District 110. 80,, of
the City of Laurel, d si,nating tl-,e boun&ries thereof as defined
by lie solution +o. 906, passed by the City Council of tae City of
Laurel 4nd referring to said Resolution of Intention for further
particulars," passed by the City Council t-he 17th day of "Jay, 1955,
and approved by the T!ayor of said City I,av 17th, 19
that all
the costs and e xponses ire urred in the oonstruotion and making and
installation of the improvements in said Special i:nl}rovem. 1t District
z 1o. £30, which improverznts are iffore fully described in said lb solution
}da. 908. creating said Tniprove,-aent District, shall be paid by
Spec .al I.:_prove-ment Eonds with interest couTons µµtuadhed, di ratan
a[-ainst Special Improvement District : o. 80 2und, and Unat
=-on"s s'-.wll be substantially t?_ic form provided by law in such
cases; en::
7I;Lii:.?S, the aontra?, t f' or lie construction and ?, Ung and
installation of said i ..,rr ovement :Ins ald a )e ci a1 ZT,. 7r ovevent Jistric t
00 111 b- dal y - nd '2u-ulurly a viarded an ti-e 12th day of Tuly, 1955. :.
rTCJ:, i'Ii :t .[ oi-iL', BE Ir' RESCL`IID 1-Y .-j-, Clif CCiENCIL OF iii; CxiY
OF Lti iEL s
Section 1, "aid bonds shall bo rd a m in stst«.-ibially the
fc1loving Form:
District 80
:Tnited `ltrate , of tai; riea
State of I.:ontana.
Do1.1s.i=s ??
Fond No. w
Interest at t:le r ate of? Fey= cent y)oiz annum, payable annually.
S.?eci l ,. jravs;lant -?Iatl ict Coupon j?ond,
Laurel, I. ontana,
IszlUc:u by i 1-ie ?i.vy 1, On spa.
t,
G_
T
The treasurer of the City of Laurel, ontana, will pay to
, or bearer, the sum of
as
authorized by Resolution ?o. 908 as passed on the 7th day of June,
1955, ereatIn,z special improvement district ho. 80 for the construc-
tion of tl.e improvements and the uork performed as authorized by
said resolution to be done in said district, and all laws, resolutions,
and ordinances relati-, r 1-1.e peto, in pay:;lent of -ho contrstit 'n
accaa dance t!lerewith. 2.1e far inc ipal and interest of tais :fond Eire
payable at the office of the City 't'reasurer of Laurel, i-:ontana,
Phis bond bears interest at t'ze rate not to Exceed 6% 1er cent
-per annum from the d ate of rer istration of this bond, as expressed
herein, until the date called f or the redemption b$ the city treasurer.
the interest on this bond is payalbe annually on t'ae irst stay of,
January in each year, unless paid previous thereto, and as expressed
by the interest coupons hereto attached, whi&ibear the engraved
facsimile signatuile of the =yor and city clerk.
This bond is payable from the collection of a special tax or
assessment which is a lien again t the real estate r1thin said
Inarovement district, as described in said resolution hereinbefore
referred to.
This bond is redeemable at the option of the c i t,- at any tics
there are funds to the OrGdlb of said special i=.proverlent district
fund for the r edemption thereof, and in t-ho Manner provided for the
redemption of rLie sane.
It is hereby certi Jed and recited, LIlat all ti:ai.riys required to
be done, _ recedent to 61-1a issuance of this bored, have been _3roperly
dome, hap?ened, and been pe-formed, in the nn:'ier ;rescpil%ud bY L-he 1a:,P1s
of the ; to to of i-: ;ntana and :.' .e resolution and ordinances of tho City
of Laurel, -'Ontaha, relatin?? to t:?ic issuance t""ereof .
Dated at Lawel, I. ontam , t-its day of
clity of Laurel, I.'sontamse
, 195tz-
Ly :'ayor
Rec;is feted at tlac off in e of t ac c ity trea.surei, of Lauxyel,
G i ty y 1 x'k
Uit Avcasarar
r
3
Registered at the office of the City Clerk of Laurels ontana,
this ----------- -day of , 195 •
City leak
fhe coupons of said bonds shall be in substantially the f ollowing
f orm :
No.
On the day of
of. Laurel, F'ontana, will at hip off ice in Laurel. )ay to bearer tle
sum of , being the annual interest then due on Bond
of Londs of caecial ln. ;?rovenont District :tio. 30, of
Laurel, *:'on,ana, )a;?.able out of -jecial 1ri..)rover.-aent District .o., 30
Funo, and not otherwise; yrovided that this couA,)on is subject to 'all
t:xe terms and conditions contained in t he Bond to u'aich it is annexed.,
CITY CF LAUREL, L,10yT' A.iA
A.f iES f :
By
'_:AYOR
City 4lerk
eetion 2. "aid bonds shall be issued in the amount of not more
than w73000.00 and be drawn against a )ecial lmarovement 1?istrlct
!:o. 30 r undo and shall bear interest at the rate not exceeding six
(6;) a,:r cent per ann;:sn f rorl the da?:e of re?;Istration -until c tilled
for redc:n?tion or ?aid in fall, interest to ire payable annually on
tYie f Irst dvy of January of each wear, and shall be si=„ned b*: the. 'mayor
and and s1aall beta Une corporate seal of the City and shall be
re;:,istered in the ofi is e of Vf_e aL,-,k ar.0 treasurer, and the interest
coupons attachad i::iereto s'nall also :e so re,--'stered and shall rea-n
tiAe engraved acslnlle signature of the 1•a-or and Cite Clerk. ^ aid
Yvon: s shall be redeemable and payable as follows: Redeeinable au the
o',ption of t%e City on and after the 1st da of =;a;iuary, ,7; pr•ovi.de3s
however, that said bonds, and c,,ch r;nd all of the S&M, :,?all Lv
redeemed tier lae 'f reasurer of s aid City vihen there a-e, funds in s,--id
-}Rcial Jnidrove.,vnt O:istrio t ?o. .30i'und, a--air:-,,t ichsaid bonds are
issued, available therefor; provided that tho -?retasurer .911all first
pay out of said Special InproveMent District iio. 30 annyally, the
interest on all outstandin- bonds can lresentktion of bho coupons bolon&?i,-kq
thereon, a. nd any 2unds remainlnr, shall be a.»lied to tine ?)ay:aent of
t.-,e -, r ina i dal ?:.nd t1ie r a de.- a t i on of is on as in t':e or de v t:.:o it
19_, the City Treasurer
?N
t J jo
in said Special Improvement District r'urd , of ter paying; the interest
on s aid bonds drawn againat said fund, the city treasurer shall call
in for pa;ment outstanding bonds, which., together with the interest
thereon to the date of redemption, will equal the amount of said l and
onthat date,whioh date shall be fixed b;; the treasurer, who shall ;ive
notice by publication once In a newspaper published iris aid City of
Laurel, : ontgna, or at the option of the Treasurer, by written notice
to t1-- a holder or holdexrs of such bonds, if their address "tie known,
of the numbe# of bonds and the date on which payn. ent .,All be rlaae,
which da ::e shall not bo less than ton (10) days after the date of
publication or of service of notice, and on which de.-4a so iAxed,
interest shall cease.
14otion 3. 4'hat the City, Clerk of the City of Laurel, ".'antana,
is authorized, empcwiered and'd irected to give notice of so ale bj advert-
is;cent in the I<:urel Outlook, a weekly newspaper of general circulation
;;jrlnted and )ublished insaid City; of -Ljs.urel, fora )eriod of four
sudcessive ,veeks iruraedia.tely precedin - the date of sale, said advertise-
ment to be published in the re;;ular issued on June 15th, June 22,
June 29 and July Uthp 1955, and said notice in to be substantially
in tl.e following form, to-wit:
o rxcfi 0.P 7iA1.u CP MUR : L, - L Lj1 4 i
3FECI:1L II.ii'RC?Vi?i, DTS2:{1CT :1, . 30 i. C.:J9
1402IC-Ij IS) '%;RY GT'V:.;1; by the Council of the City of ?atzr'el,.
L ontsrna, that t ;e said +eouncil gill, on tie 19th day of July, 1955,
at 1 _c hour of 7:30 o'clock p.m., at the Council k"diamber in the City
of Lau=gel, ::on taria:, sell to tie hit-heo t .rid best bidder :-or ca8l',
serial 11onds of 3?eeial Iridrovenent ''-strict :.o. 80, of the said lity
in tl: e total mount, not to exceed ',"?"73000-00* for ?urPOse of
payin.? ccntractor or cortractors of s-)coial ln.)rov.enent ?i?urict
_;o. 30, and -he G_npenseR ca creattinr. laid '?,'!Wcial i -, )rove:.-ion't istrict
r
ilp.. 30.
Serial bonds of Opecial Irni)r ovenent : istrict L30 issued and
sold will becone due and payable on the 1st day of <Ta._uary, A. :J, 1970;
,3rovided hoviever, that said bonds, and each and all of the same shall
be redee:.e d b' the Treta surer of said city v.;'-en there ate f ands in sai d
pcezal Ix?irove.nent `'-Strict ltio. .30 ''a:1d, a ,.inn t vuhicil saki bon:?s axe
issued, avalable V-Icrebdr, and t:Je rcdemation of the bonds shorll be
car de.L' ca:f.' r•, i."1na
.._J:e __11 bev _' clatc n 955., ilyy yy /? ? ?? i ?.•i -•? //?? tt v? t` ?-i-rv 1.1.7 ?
'+ist a PJ thc: .L4^.t..i nxt Le WDOi_ .LL•. ??;7 Soli ?-??F ?`
C£t?jr of ti } .1+.. )',?, ?r 9 !.? c? aia y ?_ g 1957 ,, V,73i_ t7,*
111T]Zr ?a ;Y" on I.si. um _
16 months coupon, e.rd annuc,11 tu')c]x'c3?_'??3?' l:?C?7 yri:€1.(°? ',nd vd-J-1 . b
radeenuablo in Full at, d4i. ' cpti ,a of the (; ty of tat ,,1--n-
are 'vzyids to c re c>i t o"' s t :i S )e c al -' :-p:L, y?i T3 1d 'Gr P!.
?. ?._? .
there
?j
8 0 -?,i finds 2 or the v c dc:;., L) •i. 1l. c3.e•7 the r a o. w
1'd o.
?,, ., tir'.71 1)c c301. ox' not :! :' -'s t;'?a.=:xn t'I ix' ,??x? <ia tar u a!.
ld b:)_.,u
a'
accx'ue d lT;t"ua 2 r;-; 'l;o diti i,€5 c) ' ra id de S -r"L Ut 2;t2, -l;; e
,.? F. c' 1 .a 'tI•?'s,":t',i,SL '1;l:tr; 7i-J; LZ-to } n.'a
"Ie OLZiiC 1'L cI' G'S 1LL3 Z'F: )o ct a.i.a L• v-,I all a. L 2, ?. z "t;?'
at -Y ivato sale,
:111 bids Oti':Ic.l' tj.-e,`u"n ij._t' or an bl:7rl•?=a,1.i.
cF.. L -cl ie d C'•ne & I 111he sum of 10 " of a1i L' .) :I.C y
."Yr. ? . :i ;, ?"1 vi O :t' :G q 0 d i) 1,
]. L C..1e 1 -!
?tt a s .'•'' ,
:L In c e ¢'.z ?: cc, c r., ,.a:e.
n t }:z e r. 'v e ii i ci - ?' _. 1 or r•
Ltic);??! dS a C:+ab a9.rlc r,' YJ i to I? w'..is % L ,.'_:? ? 1 ? i? e
1C3 Lon-
c1 0 (10 "? k t3?Y; ;1.'n C'? I ly
yc: ab',': ito u?7 C3 o-do:w
F.t
.L i o•_
ct"
"1.-L b?L?,v Ozl .?.. 7?'? `'1=„f.L.?., .?7t tr to ..,r..e l?Q.._.CIC7. C:14 .u??i.
4.? C?-i- ??ca.
o11 Cyr Cl. ?.iJ- V :-iJ A.
z,'?T I'Jr :)'j1 aii.l.. ??y?V-a?l ....b- L a,`1
Gity
l':1 all avne enc - Is 1L?1iob-1r declar-]?. "o existm and
"Oo )..n f ,"LI1 fox'ce and ef `.:C v i )"Gi;z fl: Id af to>' 1 t s
al.
pa ? sa-e aria u ] ]??ov
i?c ^3E)(? b-, the GI[J council of of -a ':?''i 1 f ^11?? 3.T:ti;.? (1u
the
ap,jroved by tile =,1.2ror this 7Vh aay of jure , 19550
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