HomeMy WebLinkAboutOrdinance No. 622
ORDINANCE NO.
AN ORDINANCE DECLARING THE METHOD OF APPORTIONING AND
SPREADING THE ASSESSMENT FOR THE COST OF IMPROVEMENTS IN
SPECIAL IMPROVEMENT DISTRICT NO. 94, FOR THE PAYMENT OF SAID
IMPROVEMENTS ISSUING BONDS THEREFOR AND CREATING A FUND TO BE
KNOWN AS; 'FUND OF SPECIAL IMPROVEMENT DISTRICT NO. 94"
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
LAUREL, MNTANAo
Section 1. That all costs and expenses of making said
improvements provided for in that certain petition for creation
of Special Improvement District No. 94 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 sanitary sewer
system and water lines in portions of Hageman Subdivision Third
Filing Amended, Tract A of Certificate of Survey No. 1423, and
Block 1 and Block 2 of 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, shall be paid by said entire.
District, each lot or parcel of land within said District to
be assessed for that portion of the whole cost which its area
bears to the total area of the entire District, exclusive of
streets, avenues, 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.
Section 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. 94 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. 94."
Section 3. All ordinances or parts of ordinances in
conflict herewith are hereby repealed.
PASSED BY-THE CITY COUNCIL AND APPROVED BY THE MAYOR,
-7 day ,of -S F_PTCYr ?? J? 1976.
ATTEST:
000 4=1
ity Clerk
this
-2-