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ORDINANCE NO. 98-03 AN ORDINANCE OF THE CITY OF MOSCOW, A MUNICIPAL CORPORATION OF THE STATE OF IDAHO, CREATING LOCAL IMPROVEMENT DISTRICT NO. 123; DESCRIBING AND SETTING FORTH THE BOUNDARIES OF SAID LOCAL IMPROVEMENT DISTRICT; PROVIDING FOR CERTAIN IMPROVEMENTS BEING MADE THEREIN; APPOINTING AN ENGINEER TO PREPARE THE NECESSARY PLANS AND SPECIFICATIONS FOR THE WORK; AUTHORIZING THE ADVERTISING FOR BIDS FOR SAID IMPROVEMENTS AS AUTHORIZED BY LAW; PROVIDING FOR THE PAYMENT OF COSTS AND EXPENSES OF SAID IMPROVEMENTS TO BE ASSESSED AGAINST THE PROPERTY WITHIN THE LOCAL IMPROVEMENT DISTRICT BENEFITED THEREBY AND THE METHOD OF SUCH ASSESSMENTS; PROVIDING FOR THE ISSUANCE OF LOCAL IMPROVEMENT DISTRICT WARRANTS AND/OR BONDS; AND PROVIDING FOR THE PUBLICATION AND EFFECTIVE DATE OF THIS ORDINANCE. WHEREAS, the Moscow City Council (Council) is of the opinion that it is in the best interest of the owners of property and of the inhabitants within the area and in the best interest of the City and the citizens thereof that a Local Improvement District be formed and the proposed improvements as thereinafter described be constructed; and WHEREAS, it appears that the City Clerk did mail a copy of the Notice of Resolution of Intention and of Hearing to each owner within the proposed District, and that an Affidavit of Mailing of Notice to create said Local Improvement District is on file in the office of the City Clerk and Notice of Resolution of Intention was published in the Daily News as required by law; WHEREAS, THE COUNCIL FINDS: that the District will be in the best interest of the property affected and the municipality, that there is reasonable probability that the obligations of such District will be paid, and the value of the property within the proposed District is sufficient to support the costs of the improvements. NOW THEREFORE, BE IT ORDAINED BY THE MAYOR AND COUNCIL OF THE CITY OF MOSCOW, LATAH COUNTY, IDAHO AS FOLLOWS: SECTION 1: There is hereby created and established a Local Improvement District in the City of Moscow, Latah County, Idaho, to be known as "Local Improvement District No. 123". The Project consists of excavation, grading, furnishing and placing base rock; constructing concrete curbs and sidewalk, catch basins, and storm sewer pipes; furnishing and placing plant mix pavement; furnishing and placing topsoil, trees, seeding and landscaping, together with related improvements and costs and expenses of engineering, legal services, bond issuance costs, reserves, and other related expenses within the corporate limits of said City of Moscow as described in Exhibit attached hereto and hereby made a part hereof. SECTION 2: The Council finds that all of the expenses of the Project are of special benefit and that all of the expense shall be defrayed by special assessments. The costs and expenses of the Project will be assessed against the abutting, adjoining and ORDINANCE 9R-03 FEBRUARY !998 PACE l ---PAGE BREAK--- adjacent lots and lands along or upon which such improvements are to be made and upon lots and lands benefited by such improvements and included in the District to be created as follows: The Project consists of excavation, grading, furnishing and placing base rock; constructing concrete curbs and sidewalk, catch basins, and storm sewer pipes; furnishing and placing plant mix pavement; furnishing and placing topsoil, trees, seeding and landscaping. All street related construction and sidewalk costs will be assessed in proportion to the benefits derived by each lot in the District, which benefits will accrue to all lots in equal measure. Any individual work which specifically benefits a particular lot will be paid by that property owner. A. It is the opinion of the Council that this method of assessment is equitable and reasonably based on benefits each parcel shall derive from such improvements; however, the Council reserves the right to assess or reassess said properties according to law. B. The estimated cost of the proposed Project is FORTY-FOUR THOUSAND, TWO HUNDRED FORTY-ONE DOLLARS AND FIFTY-FOUR CENTS ($44,241.54), ONE HUNDRED PERCENT (100%) of which will be paid for by the levy of assessments on the property benefited. None of such costs and expenses will be paid from the general funds of the City or from any other source. Any assessment may be increased by not more than 20%. Said assessments shall be paid in ten (10) equal annual installments as nearly as possible, if not otherwise paid as provided by law. SECTION 3: The City Engineer of the City of Moscow is appointed as Engineer for the Project and shall prepare the necessary plans and specifications for the construction of the improvements. SECTION 4: The work of making the improvements shall be performed by contract let to the lowest responsible bidder after publication of Notice of Advertisement of Bids has been made as provided by law, which advertisement is hereby authorized and directed to be made by the City Clerk. SECTION 5: That to provide for the immediate payment of the improvements herein provided for, pending the payment of the installments on assessments hereinabove provided for, the City may issue registered warrants or bonds as provided in Title 50, Chapter 17, Idaho Code. For the purpose of making payments for said improvements as the same are installed, prior to the issuance or sale of bonds, the Council may issue interim warrants against the Improvement District payable to the contractor or other persons upon the estimate of the Engineer for the City bearing interest not in excess of allowable limitations as determined by the Council, which warrants, together with interest thereon to the date of the issuance of bonds, if issued, shall be redeemed and retired by the proceeds of assessments paid in full and proceeds of the sale of said bonds. SECTION 6: That all matters and things done and performed in regard to the creation of said Local Improvement District, the Local Improvement District Code of Idaho, and each and all of the provisions thereof in regard to all of said matters and in all matters concerning the creating of the Improvement District and the doing of the improvements and payments thereof are hereby expressly incorporated as a part of the Ordinance. ORDINANCE 98-03 FEBRUARY 23, 1998 PACE20f:1 ---PAGE BREAK--- SECTION 7: This Ordinance shall take effect and be in full force upon its passage, approval and publication in one issue of the Daily News, a newspaper of general circulation in said City, published at Moscow, Idaho, and being the official newspaper thereof. PASSED under suspension of the rules upon which a roll call vote was duly taken and duly enacted an Ordinance of the City of Moscow, Idaho, at a special meeting of the Council held on February 23, 1998. PASSED AND APPROVED this 23rd day of February, 1998. ATTEST: ORDINANCE 98-03 FEBRUARY 23,1998 PAGEJOF3 ---PAGE BREAK--- EXHIBIT Beginning at the northwest corner of Lot I, Block l of the East Third Street Second Addition to the City of Moscow as shown on the recorded plat thereof; thence S89°35'00"E 473.40 feet along the north boundary of said East Third Street Second Addition to the northeast corner of Lot 2, Block 2 of said Addition; thence S03°38'26"W 94.49 feet to the southeast corner of said Lot 2, Block 2; thence N89°35'00"W 35.23 feet along the north right-of-way line of Third Street; thence S03°36'09"W 60.09 feet to the northeast corner of Lot I, Block 4 of said Addition; thence S03°36'09"W 66.10 feet to the southeast corner of said Lot I, Block 4; thence N89°35'00"W 424.41 feet along the south boundary of said Lot l, Block 4 and along the south boundaries of Lots 12 and I, Block 3; thence N00°02'35"E 220.34 feet along the west boundary of said addition to the point of beginning. 3