HomeMy WebLinkAboutOrdinance No. 624ORDINANCE NO. 624
AN ORDINANCE DECLAR.ING THE METHOD OF APPORTIQNING AND
SPREADING THE ASSESSMENT FOR THE COST OF IMPROVEMENTS IN
SPECIAL IMPRO~E'MENT bfSTRICT NO. 95,.FOR THE PAYMENT OF S~I.D.
%MP.ROVEMENTS, ISSUING BONDS THEREFOR, AND CREATING A FUND TO BE
~NO.WNAS: '~FUND.OF' SPECIAL IMPROVEMENT DISTRICT NO. 95'"
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
LAUREL, MONTANA:
Section 1. That all costs and expenses of making said
improvements provided for in that certain petition for creation
of Special Improvement District No. 95 of the City of Laurel,
Montana, designating the number of said District, describing
the boundaries thereof, stating the general character of the
improvements made therein, stating an approximate estimate of
the cost thereof, and the manner of paying therefor, for the
purpose of construction and installation of storm sewer, curb
and gutter, paving and street signs in portions of Hageman Sub-
division Third Filing, Hageman Subdivision Third Filing Amended,
Tract A of Certificate of Survey No l 1423, and Block 1 and
Block 2 in Laurel Industrial Park Subdivision, according to the
official plats thereof on file and of record in the office of
the Clerk and Recorder of Yellowstone County, Montana, all in
accordance with the plans and specifications of the City of
Laurel, Montana,
lot or parcel of
that portion of the whole cost which its area bears to the
area of the entire District, exclusive of streets, avenues,
shall be paid by said entire District, each
land within said District to be assessed for
total
alleys
and public areas, and the Council declares and finds that the
entire District is benefited by the aforesaid improvements
and shall be assessed accordingly to pay the costs and expenses
thereof.
Se~tlon 2. That the cost and expense of making said
improvements shall be paid in twenty annual installments, and for
the entire cost and expense of making said improvements, bonds
are to be drawn on the funds of Special Improvement District
No. 95 and made payable from such funds. Such bonds shall be
in denominations of $100.00 or fractions or multiples thereof.
Such assessments shall be made in twenty annual installments, and
the payment of such annual installments and the said cost and
expense are hereby extended over a period of twenty years from
and after the completion of said improvements, said payments to
constitute a fund to be known as "Fund of Special Improvement
District No. 95."
Section 3. Ail ordinances or parts of ordinances in
conflict herewith are hereby repealed.
PASSED BY THE CITY COUNCIL AND APPROVED BY THE MAYOR, this
?th
day of Seotember
ATTEST:
~ity Clerk
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