01.24.2019CouncilAgenda - Packet
2135 SOUTH AMMON ROAD
SPECIAL MEETING
THURSDAY, JANUARY 24, 20197:00P.M.
ACTION ITEMS:
1.Ordinance 617 & Summary Authorizing the Issuance and Confirming the Sale of Fiber
Optic Local Improvement District No. 2 Bond, Series 2019, in the principal amount of
$570,000 and authorizing the execution and deliveryof the Placement Agentand first
purchase agreement between Fiber Optic Local ImprovementDistrict No. 2 and
Neighborly Securities, Inc., as Purchaser, with respect to the Bond.
2.Ordinance 618 & Summary Providing for the Issuance and Sale of a Warrant for the
purpose of providing interim financing for certain fiber optic system improvementsand
related appurtenances within Fiber Optic Local ImprovementDistrict No. 3.
3.Godfrey Subdivision Final Plat
4.Godfrey Subdivision Development Agreement
DISCUSSION ITEMS:
1.Misc.
INDIVIDUALS NEEDING ACCOMODATION DUE TO DISABILITY
MUST CONTACT CITY HALLNO LATER THAN 1:00 P.M. THE DAY
BEFORE THE SCHEDULED MEETING TO ARRANGE ASSISTANCE
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CITY OF AMMON
BONNEVILLE COUNTY, IDAHO
ORDINANCE NO. 617
FIBER OPTIC LOCAL IMPROVEMENT DISTRICT NO. 2
AN ORDINANCEAUTHORIZING THE ISSUANCE AND CONFIRMING
THE SALE OFTHEFIBER OPTIC LOCAL IMPROVEMENT DISTRICTNO.
2BOND, SERIES 2019,IN THE PRINCIPAL AMOUNT OF $570,000;
APPROVING THE SALE OF THE BOND TO NEIGHBORLY SECURITIES,
INC., AS PURCHASER;PROVIDING FOR THE USE OF PROCEEDS
THEREOF; CREATINGTHE BOND FUNDAND INTEREST FUNDFOR
PAYMENT OF THE BOND;PROVIDING FOR EXECUTION,
AUTHENTICATION,REGISTRATIONAND TRANSFER OF THE BOND;
PROVIDING FOR A SYSTEM OF REGISTRATION THEREFOR; PLEDGING
FIBER OPTIC LOCAL IMPROVEMENT DISTRICT NO. 2FOR AMMON,
IDAHO, ASSESSMENTS FOR PAYMENT OF THE BOND;PROVIDING FOR
CERTAIN FEDERAL TAX COVENANTSAND SPECIAL DESIGNATIONS
WITH RESPECT TO THE BOND; PRESCRIBING RELATED DETAILS AND
PROVISIONS CONCERNING THE FOREGOING; REPEALING
CONFLICTING PROCEEDINGS; PROVIDING IRREPEALABILITY;
PROVIDING SEVERABILITY; AND PROVIDING FOR PUBLICATION AND
EFFECTIVE DATE.
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF AMMON,
BONNEVILLE COUNTY,IDAHO,AS FOLLOWS:
WHEREAS,theCity of Ammon, BonnevilleCity,is a municipal
corporation operating and existing under and pursuant to the provisions of the Constitution and
laws of theState of Idaho, and as such is authorized and empowered to create local improvement
districtsand to construct improvements pursuant toLID
Code;
City Councilinance No.586,
adopted on June20, 2017, duly created Fiber Optic Local ImprovementDistrictNo. 2for
Fiber LID No. 2costs and expenses of design,
acquisition, construction and installation of certain fiber optic system improvements and related
Improvements
boundaries of Fiber LID No. 2whose owners have affirmatively elected to be benefited by the
Improvements and to incur therelated assessment necessary to pay for the same;
WHEREAS,on or aroundNovember 16, 2017, the City Council authorized the Cityto
provideinterim financingtoFiber LID No. 2by issuance of its Fiber Optic Local Improvement
District No. 2 Warrant, 2017 (Federally Taxable) in an amount not to exceed $1,300,000at an
interest rate of 1.50% for the purpose of paying certain costs and expenses of the Improvements
incurred in advance ofissuance of the Bonds (as defined herein) Prior Loan
WHEREAS, pursuant to the LID Code, by passage and approvalby the City Council of
Ordinance No.615onDecember6, 2018,the City Council haslevied valid special assessments
onthereal property inFiberLID No. 2as described in the Assessment Roll for Fiber LID No. 2
attached thereto to defray the cost and expenses of the Improvements(Ordinance No.586and
Ordinance No.615, hereinafter Prior Ordinances
WHEREAS, the properties assessed withinFiber LID No. 2pursuant to the Prior
Ordinances shallbe benefitted by theImprovements within Fiber LID No. 2;
WHEREAS, the time for prepayment of assessments in Fiber LID No. 2has expired;
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WHEREAS,the total estimated cost and expenses of said Improvements in said Fiber
LID No. 2, together with the amount of said estimated total cost and expenses to be paid from the
proceeds of the levy of the special assessments in said Fiber LID No. 2, the amount of special
assessments which have been paid in full, and the amount of assessments yet to be paid are as
follows:
TOTAL COST ANDAMOUNT OFAMOUNT OF
EXPENSESOFTOTAL AMOUNTASSESSMENTSASSESSMENTS
IMPROVEMENTSOF ASSESSMENTSPAID IN FULLUNPAID
$671,887.87$671,887.87$61,970.24$609,917.63
WHEREAS, under the provisions of the LID Code, the Cityis authorized to pledge the
unpaid portion of the aforementioned special assessments in Fiber LID No. 2for the payment of
the Bondshereinafter authorized, and, after thirty(30)days from the levy of the assessments, to
provide for the payment of unpaid special assessments in installments;
WHEREAS,the City has negotiated for the sale of the Bond to Neighborly Securities,
Inc., New York, New YorkPurchaser
WHEREAS, the City Councildesires to authorize the issuance of theBond torefinance
theImprovementsby payment of the Prior Loan,and to pay costs of issuance of the Bond, and
desires toapprove the sale of the Bond tothe Purchaser,with repayment thereofto be paid from
Fiber LID No. 2assessments;
WHEREAS, pursuant to Section57-215,IdahoCode, the Notice of Negotiated Private
Bond Sale with respect to the issuance and sale of the Bond pursuant to this Bond Ordinance was
published onJanuary18, 2019, inThe Post Register, a newspaper of general distribution in the
City;and
WHEREAS, all references to theduties of the Clerk and Treasurer in the LID Code shall
be carried out by the City.
NOW, THEREFORE, BE IT FURTHER ORDAINED BY THE CITY COUNCILOF
THECITY OF AMMON, BONNEVILLE COUNTY,IDAHO, AS FOLLOWS:
Section 1.Definitions. As used in this Bond Ordinance, in addition to the definitions
included in the WHEREAS clauseshereto and unless the context shall otherwise require, the
following terms shall have the following meanings:
Authorized Denominations,in the event of sale or transfer by the Purchaser of
beneficial interests in all or portions of the Bond, mean the denomination of $100,000 or any
integral multiple of $5,000 in excess thereof, except for one necessary odd denomination less
than $5,000.Property owner prepayment of assessments, as allowed by State law, may result in
a position in the Bond less than the Authorized Denominations.No transaction in the Bond shall
occur in an amount lower than the Authorized Denominations except as allowed by Municipal
Securities Rulemaking Board (MSRB) Rule G-15(f).
BondorBondsmean the $570,000Fiber Optic Local Improvement District No. 2Bond,
Series 2019, of the Cityauthorized by this Bond Ordinance, and issued and sold to the Purchaser,
the proceeds of which shall be used to refinance Improvementsby payment of the Prior Loan,
and to pay costs of the issuance of the Bond.
Bond Counsel meansHawley Troxell Ennis & Hawley LLP, or another attorney at law
or a firm of attorneys of nationally recognized standing in matters pertaining to the tax-exempt
status of interest on obligations issued by states and their political subdivisions, duly admitted to
the practice of law before the highest court of any state of the United States.
Bond Fundshall mean the Bond Fundestablished inSection 8of this Bond Ordinance
for the purpose of paying and securing the Bonds.
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BondholderorHoldermeansthe Registered Owner of any Bond as shown in the Bond
Registerof the City kept by the Bond Registrarfor such purpose.
Bond Ordinancemeans this Ordinance No.617, adopted by the CityCouncil on
January24, 2019, authorizing the issuance and confirming the sale of the Bonds.
Bond Purchase Agreementmeansthe Placement Agent and First Purchase Agreement
between the District and the Purchaser in substantially the form authorized underSection 5
hereof, setting forth the terms of sale of the Bonds.
Bond Registermeans the registration books showing the nameandaddress of each
Registered Owner of the Bonds, maintained pursuant to Section 149(a) of the Code.
Bond Registrar/Paying Agentmeanseach Person appointed by the City as bond
registrar and agent for the purposes of registering and authenticating the Bonds, maintaining the
Bond Register, effecting transfer of ownership of the Bonds and paying interest on and principal
of the Bonds.The initial Bond Registrar/Paying Agent shall be U.S. Bank National Association.
Cede & Co. meansCede & Co., as nominee of DTC, and any successornominee of DTC
appointed with respect to the Bonds pursuant to Section 15hereof.
Citymeans the City of Ammon,Bonneville County,Idaho.
City Clerkor Clerkmeans theduly appointed Clerkof the City, or his/her successor in
function, if any,who is the custodian of the records of the proceedings of the City.
City Treasureror Treasurermeans the duly appointed Treasurer of the City, or his/her
successor in function, if any.
Codemeans the Internal Revenue Code of 1986, as amended, together with
corresponding and applicable regulations and revenue rulings issued with respect thereto by the
Treasury Department or the Internal Revenue Service of the United States.
DTCmeans The Depository Trust Company, New York, New York, and its successors
and assigns.
Electronic Meansmeans telecopy, facsimile transmissions, e-mail transmissions or other
similar electronic means of communication providing evidence of transmission.
Interest Fundshall mean the Interest Fund established in Section 8ofthis Bond
Ordinance, and maintained for the purpose of paying interest on the Bonds.
Mayormeans the Mayor of the City, or any presiding officer or titular head of the City,
or his/her successor in functions, if any.
Payment Date(s) shall mean interest and principal payment dates on January 29of each
year commencing January 29,2020, until payment of the Bonds upon maturity or prior
redemption thereof.
Personmeans natural persons, firms, partnerships, associations, corporations, trusts,
public bodies and other entities.
Prepayment Premium meanstheadditional interest to be paid onthe principal amount
ofprepaid assessments in full (in addition to the accrued interest duethereon when paid) at the
rate of interest on the Bonds from the date of the last installment of assessments due throughthe
Payment Date which is one (1) year after the next Payment Date on the Bondsfrom the date of
prepayment, as set forth in Section 50-1715, Idaho Code, as amended.
Record Date means(a) in the case of each Payment Date, the Paying Agent's close of
th
business on the15day of the month of each Payment Date,and, if not a business day for the
Paying Agent, the next preceding day that is a business day for the Paying Agent, and (b)in the
case of each redemption, such record date as shall be specified by the Paying Agent in the notice
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of redemption required by Section 7hereof, provided that such Record Date shall be not less
than fifteen (15) calendar days before the mailing of such notice of redemption.
Registered OwnerorRegistered Ownersmean the person or persons whose names and
addresses shall appear on the Bond Register maintained by the Bond Registrar in accordance
with the terms of this Bond Ordinance, as the owner or owners of a specific Bond or Bonds. For
so long as Bonds are held in book-entry form, Cede & Co., as nominee of DTC,shall be deemed
to be the sole Registered Owner thereof.
Representations LetterRepresentations approved
pursuant to Section 16of this Bond Ordinance, to be filed with DTC.
Tax Certificatemeans any agreement or certificate executed on behalf of Fiber LID No.
2in order to establish and assure the tax-exempt status of interest received on the Bonds.
hereby,hereof,hereto,herein,hereunder,and any similar terms as
used in this Bond Ordinance refer to this Bond Ordinance.
Section 2.Authorization and Sale of Bonds; Use of Proceeds.Pursuant to the LID Code,
for the purpose offinancingor refinancingall ora portionof the costs of the Improvements in
Fiber LID No. 2, there shall be issued theCity of Ammon, Bonneville County,Idaho,Fiber
OpticLocal Improvement District No. 2Bond, Series 2019,in the aggregate principal amount of
$570,000, which Bond shall be dated the date of delivery.The Bondherein authorized, when
executed, shall be issued, sold and deliveredtothe Purchaserpursuant to the terms of this Bond
Ordinance and the Bond Purchase Agreement.
The proceeds of the Bond will be used to refinance the costs of the Improvementsby
payment of the Prior Loan,and to pay costs of issuance of the Bond.Any proceeds not required
for the foregoingpurposesshall be transferred to theBond Fund for payment of the Bond.
Section 3.BondDetails. The Bondsshall initially be issued as a single fully registered
term bond maturing January 29, 2039, -1,insubstantially the form attached as
ExhibitAhereto.
Section 4.Installments; Interest Rate. The Bonds shall bear intereston the unpaid
principal balance at the rate of 5.00% per annum. Amortized installments of principal and
interest thereon shall be payable on the Payment Dates until maturity, or prior redemption
thereof, pursuant to the amortization scheduleattached to Exhibit A, theform of bond.
Section 5.Bond Purchase Agreement. The Bond authorized to be issued herein ishereby
sold to the Purchaser on the terms and conditions set forth in the Bond Purchase Agreement at an
aggregate purchase price equal to $597,067.10, representing the par amount of the Bond, plus
premiumof $37,067.10and lesssof $10,000.00. To evidence the acceptance of
the Bond Purchase Agreement, the Council President or Mayor is hereby authorized to execute
and deliver the Bond Purchase Agreement in the form presented at this meeting.
Pursuant to the Bond Purchase Agreement and based on representations therein by the
Purchaser, the Bond will be initially sold by the City to the Purchaser, as the initial purchaser,
pursuant to exceptions from registration under Section 4(2) of the Securities Act of 1933 (the
Securities Act) and in particular Regulation D promulgated thereunder, and thereafter
reoffered and sold by the Purchaserto ultimate purchasers pursuant to Rule144A under the
QIBs
purchasers who are QIBs.
Section 6.Paying Agent and Bond Registrar.U.S. Bank National Association is hereby
appointed the Paying Agent and Bond Registrar for the Bonds. The City mayin its discretion
remove any Paying Agent and any Bond Registrar, and any successor thereto, and appoint a
successor or successors thereto. Each Paying Agent and Bond Registrar shall signify its
acceptance of the duties and obligations imposed upon it by this BondOrdinanceby executing
and delivering to the City a written acceptance thereof.
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The principal of, PrepaymentPremium, if any, and interest on the Bonds shall be payable
in any coin or currency of the United States of America which, at the respective dates of payment
thereof, is legal tender for the payment of public and private debts. Principal of,Prepayment
Premium, if any, and interest on the Bonds shall be payable when due to the Registered Owner
of each Bond.Payment ofprincipal and/orinterest on each Bond shall be made by check or
draft mailed to the Person who, as of the Record Date, is the Registered Ownerof the Bond, at
the address of such Registered Owneras it appears on the Bond Registerkept by the Bond
Registrar or at such other address as is furnished to the Bond Registrar in writing by such
Registered Owneron or prior to the RecordDate.
Section 7.Prepayment of Assessments; Redemption.In accordance with Section 50-
1715, Idaho Code, as amended, property owners may prepay their assessments in full at any
time. Prepaid installments of assessmentsmadeafter January 7, 2019, which date isthe next
business day following thirty (30) days after adoption of City Ordinance No. 615,must include
the full principal amount of the unpaid assessments plus any applicable penalties and all accrued
interest through the date of payment of the same, plus the PrepaymentPremium. Based on the
amounts of principal and interest receivedfrom property owners upon prepayment of
assessmentsand upon notice given as provided below,Bonds,in the principal installment
amounts determined by the Bond Registrar,are subject to redemption prior to maturity in whole
or in part,onthe applicable Payment Date,in theamounts of principal, Prepayment Premium, if
any,and accrued interest thereon, to the extent there is sufficient money in the Bond Fund and
Interest Fund to pay such amounts.Except as to property owner prepayments as provided above,
the Bonds shall be noncallable by the City.
Notice of redemption of the Bonds, as directed by the City to the Bond Registrar at least
forty-five (45) days prior to the redemption date, shallbe given by the Bond Registrar by
Electronic Means or by first class mail, postage prepaid, not less than thirty (30) or more than
sixty (60) days prior to the redemption date, to the Bondholder, as of the Record Date, at the
address of such Bondholder asit appears in the Bond Registerof the City kept by the Bond
Registrar, or at such other address as is furnished to the Bond Registrar in writing by such
Bondholder on or prior to the Record Date.Pursuant to Section 50-1724, Idaho Code, as
amended, Bonds, or portions thereof, to be redeemed shall be selected by the Bond Registrar
by lot and shall, in the event less than all of the outstanding Bonds are to be redeemed,
insofar as can be done taking into consideration the denominations of the outstanding
Bonds, represent an equal amount of Bonds from each maturity outstanding at the time of
the redemption.Notice also shall be given to the fiscal agent of the City, if any, and to the
Paying Agent, if other than the Bond Registrar. Each notice of redemption shall state the name
and series of the Bonds, the redemption date, the place of redemption, the principal amount if
less than all, the distinctive numbers of the Bonds or portions of Bonds to be redeemed, and also
shall state that the interest on the Bonds in such notice designated for redemption shall cease to
accrue from and after such redemption date and that, on said date, there will become due and
payable on each of said Bondsthe principalinstallmentamount, interest accrued thereon to the
redemption date,and the Prepayment Premium.Any notice mailed as provided in this Section
shall be conclusively presumed to have been duly given, whether or not the Bondholder or other
recipient receives such notice. Failure to mail such notice or any defect therein shall not affect
the validity of the proceedings for redemption of the Bonds.
When so called for redemption, such Bonds shall cease to accrue interest on the specified
redemption date, provided funds for redemption are on deposit at the place of payment at that
time, and such Bonds shall not be deemed to be outstanding as of such redemption date.
In addition to the foregoing notice, further notice shall be given by the Bond Registrar as
set out below, but no defect in said further notice or any failure to give all or any portion of such
further notice shall affect in any manner the validity of a call for redemption if notice thereof is
given as above prescribed:
(a)Each further notice of redemption given hereunder shall contain the information
required above for an official notice of redemption plus (i)the CUSIP numbers of all Bonds
being redeemed; (ii)the date of issue of the Bonds as originally issued; (iii)the rate of interest
borne by each Bond being redeemed; (iv)the maturity date of each Bond being redeemed; and
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(v)the series and any other descriptive information needed to identify accurately the Bonds
being redeemed.
(b)Each further notice of redemption shall be sent at least thirty (30) days before the
redemption date by telecopy, registered or certified mail or overnight delivery service to all
registered securities depositories then in the business of holding substantial amounts of
obligations of types comprising the Bonds designated to the Bond Registrar by the City.
Upon the payment of the redemption price of Bonds being redeemed, each check or other
transfer of funds issued for such purpose shall bear the CUSIP number or numbers identifying,
by issue and maturity, the Bonds being redeemed with the proceeds of such check or other
transfer.
Section 8.Creation of Bond Fund and Interest Fund; Pledge of Funds; Transfer of Funds
to Paying Agent.There are hereby created the Bond Fund and Interest Fund for Fiber LID No. 2
to be held by the City, as more fully described hereinafter. For the purposes of securing the
payment of the Bond, all installment payments of assessments levied within Fiber LID No. 2,
including all principal of and interest on such assessments shall be collected by the City
Treasurerand deposited in the Bond Fund and Interest Fund, as applicable. All monies in the
Bond Fund and Interest Fund are hereby irrevocably pledged for the payment of principal and
interest on the Bonds.Money in the Bond Fund and Interest Fund shall be kept separate and
apart from the bond funds of other local improvement districtsof the City, and from any other
funds of the City, and shall from time to time, as received, be deposited in such bank or banks as
are designated as depositories of public monies for the funds of the Cityunder the depository
laws of the State of Idaho for deposit or invested as provided by law. Interest received on such
funds so deposited or invested shall be placed to the credit of the fund from which it is earned.
No later than fifteen (15) days prior to eachPayment Date, the Cityshall transferto the
Paying Agentmoneys from the Bond Fund and Interest Fundsufficient to paythe scheduled debt
service payment on the Bonds, including Prepayment Premiums, if applicable.
Section 9.Delinquent Assessments; Distribution of Collections. If anyassessment
installment is not paid within twenty (20) days from the date it is due, the same shall become
delinquent and the Treasurer shall add a penalty of two per cent (2%) thereto. The Treasurer
shall thereafter proceed tocollect the delinquencyin anymanner now or hereafter provided by
theLID Code including, the issuance of delinquent certificates.Said delinquent certificate(s)
shall draw interest at the rate of ten per cent (10%) per annum from thedate of delinquency until
the end of the month in which it is paidDefault Interest.Amounts received for penalties
and Default Interest shall first be applied to the reasonable expenses of the Treasurer to collect
such delinquency, to the extent permitted by law.
Section 10.Execution and Authentication of Bond. The Bondsshall be executed on
behalf of the Cityby theMayor, countersigned by the City Treasurer and attested to by the
Clerk.The certificate of authenticationattached to theBondsshall be signed by the Bond
Registrar. The officials and each of them are hereby authorized and instructed to execute the
Bondsaccordingly.
Upon authentication, the Bondsshall be valid or obligatory for any purpose or entitled to
the benefits of this Bond Ordinance, and such certificate of the Bond Registrar shallbe
conclusive evidence that the Bondsso authenticated havebeen duly authenticated and delivered
under, and areentitled to the benefits of, this Bond Ordinance and that the holdersthereof are
entitled to the benefits of this Bond Ordinance.The certificate of authentication of the Bond
Registrar on the Bondsshall be deemed to have been executed by it if, upon execution, the date
of registration and authentication of the Bondsis inserted in the place provided therefor on the
certificate of authentication.
The Mayor, Clerk and Treasurer of the City are authorized to execute, countersign and
seal from time to time, in the manner described above, Bonds to be issued and delivered for the
purpose of effecting transfers and exchanges of Bondspursuant to Section 11hereof. The
execution, countersigning and sealing by the City and delivery to the Bond Registrar of any
exchange bondshall constitute full and due authorization of such Bond containing such payee,
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principal amount, maturity and interest rate as the Bond Registrar shall cause to be inserted, and
the Bond Registrar shall thereby be authorized to authenticate and deliver such Bondspursuant
to Section 11hereof.
Section 11.Transfer/Exchangeof Bonds.The following provisions shall apply when
Bonds are not registered through DTC.The transfer of any Bond may be registered and Bonds
may be exchanged, but no transfer of any such Bond shall be valid unless such Bond is
surrendered to the Bond Registrar with the assignment form appearing on such Bond duly
executed by the Registered Owner or such Registered Owner's duly authorized agent in a manner
satisfactory to the Bond Registrar. Upon such surrender, the Bond Registrar shall cancel the
surrendered Bond and shall authenticate and deliver, without charge to the Registered Owner or
transferee therefor, a new Bond (or Bonds at the option of the new Registered Owner) of the
same date, maturity, and interest rate and for the same aggregate principal amount in any
Authorized Denomination(s), naming as Registered Owner theperson or persons listed as the
assignee on the assignment form appearing on the surrendered Bond, in exchange for such
surrendered and cancelled Bond. Any Bond may be surrendered to the Bond Registrar and
exchanged, without charge, for an equal aggregateprincipal amount of the Bonds of the same
date, maturity, and interest rate, and principal amount.The Bond Registrar shall not be obligated
to register the transfer or to exchange any Bond during thefifteen (15) days preceding the date
any such Bond is to be redeemed.
No transfer shall be effective until entered on the Bond Registerkept by the Bond
Registrar. The City, the Bond Registrar and the Paying Agent may treat and consider the Person
in whose name each Bond is registered in the Bond Registerkept by the Bond Registrar as the
Bondholder and absolute owner thereof for the purpose of receiving payment of, or on account
of, the principal or redemption price thereof and interest due thereon and for all other purposes
whatsoever.
The Bond Registrar shall not be required to register the transfer or exchange of any Bond
selected for redemption in whole or in part, except the unredeemed portion of Bonds being
redeemed in part. Upon surrender of any Bond redeemed in part, the City shall execute and the
Bond Registrar shall authenticate and deliver to the Bondholder, without expense to the City, a
new Bondor Bonds (which may be an exchange bond(s)) of the same series, designation,
maturity and interest rate and of Authorized Denominationsequal in aggregate principal amount
to the unredeemed portion of the Bond surrendered.
Section 12.Bond Registration Books. This Bond Ordinance shall constitute a system of
registration within the meaning and for all purposes of the Registered Public Obligations Act of
Idaho, chapter 9 of Title 57, Idaho Code. The Bond Registrar shall keep or cause to be kept at its
principal corporate trust office sufficient books for the registration and transfer of the Bonds,
which shall at all times be open to inspection by the City; and, upon presentation for such
purpose, the Bond Registrar, under such reasonable regulations as it may prescribe, shall register
or transfer or cause to be registered or transferred on said books Bonds as herein provided.
Section 13.List of Bondholders. The Bond Registrar shall maintain a list of the names
and addresses of the Bondholders of all Bonds and, upon any transfer, shall add the name and
address of the new Bondholder and eliminate the name and address of the transferor Bondholder.
Section 14.Duties of Bond Registrar. If requested by the Bond Registrar, the Mayor or
Council President and Clerk of the City are authorized to execute the Bond Registrar's standard
form of agreement between the City and the Bond Registrar with respect to the compensation,
obligations and duties of the Bond Registrar hereunder which may include the following:
(i)to act as bond registrar, authenticating agent, paying agent, and transfer agent as
provided herein;
(ii)to maintain a list of Bondholders as set forth herein and to furnish such list to the
City upon request but otherwise to keep such list confidential;
(iii)to give notice of redemption of Bonds as provided herein;
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(iv)to cancel and/or destroy Bonds which have been paid at maturity or upon earlier
redemption or submitted for exchange or transfer;
(v)to furnish the City at least annually a certificate with respect to Bonds cancelled
and/or destroyed;
(vi)to furnish the City at least annually an audit confirmation of Bonds paid, Bonds
outstanding and payments made with respect to interest on the Bonds; and
(vii)to comply with all applicable provisions of the Representations Letter, as called
for inSection 16hereof.
Section 15.Book-Entry Systems, Limited Obligation. The Bonds shall be initially issued
in the form of a separate single certificated fully registered term Bond maturing and subject to
annual principal and interest installments as approved upon the sale thereof. Upon initial
issuance, the ownership of each Bond shall be registered in the Bond Registerkept by the Bond
Registrar in the nameof Cede & Co., as nominee of DTC. Except as provided inSection 17
hereof, all of the outstanding Bonds shall be registered in the Bond Registerkept by the Bond
Registrar in the name of Cede & Co., as nominee of DTC.
With respect to Bonds registered in the Bond Registerkept by the Bond Registrar in the
name of Cede & Co., as nominee of DTC, the City, the Bond Registrar and the Paying Agent
shall have no responsibility or obligation to anyDTC participantParticipantorto any
Person on behalf of which a Participant holds an interest in the Bonds with respect to (i) the
accuracy of the records of DTC, Cede & Co. or any Participant with respect to any ownership
interest in the Bonds, (ii) the delivery to any Participant or any other Person, other than a
Bondholder, as shown in the Bond Registerkept by the Bond Registrar, of any notice with
respect to the Bonds, including any notice of redemption, or (iii) the payment to any Participant
or any other Person, other than a Bondholder, as shown in the Bond Registerkept by the Bond
Registrar, of any amount with respect to principal of,Prepayment Premium,or interest on the
Bonds. The City, the Bond Registrar and the Paying Agent may treat and consider the Person in
whose name each Bond is registered in the Bond Registerkept by the Bond Registrar as the
Bondholder and absolute owner of such Bond for the purpose of payment of principal,
Prepayment Premium, if any,and interest with respect to such Bond, for the purpose of
registering transfers with respect to such Bond, and for all other purposes whatsoever. The
Paying Agent shall pay all principal of,Prepayment Premium, if any,and interest on the Bonds
only to or upon the order of the respective Bondholders, as shown in theBond Registerkept by
the Bond Registrar, or their respective attorneys duly authorized in writing, as provided in
Section 6hereof, and all such payments shall be valid and effective to satisfy and discharge fully
the City's obligations with respect to payment of principal of,Prepayment Premium, if any,and
interest on the Bonds, to the extent of the sum or sums so paid. No Person other than a
Bondholder, as shown in the Bond Registerkept by the Bond Registrar, shall receive a
certificated Bond evidencing the obligation of the City to make payments of principal,
Prepayment Premiumand interest pursuant to this Bond Ordinance. Upon delivery by DTC to
the City of written notice to the effect that DTC has determined to substitute a new nominee in
place of Cede & Co. and subject to the provisions herein with respect to Record Dates, the word
"Cede & Co." in this Bond Ordinance shall refer to such new nominee of DTC, and, upon receipt
of such a notice, the City promptly shall deliver a copy of the same to the Bond Registrar and the
Paying Agent.
Section 16.Representations Letter. The Representations Letter in substantially the form
presented at this meeting, with such changes, omissions, insertions and revisions as the Mayor
shall approve,is hereby authorized and the Mayor shall execute and deliver such Representations
Letter to DTC. The approval of the Mayor of any such changes, omissions, insertions and
revisions shall be conclusively established by said Mayor's execution of the Representations
Letter. The City's execution and delivery of the Representations Letter shall not in any way limit
the provisions of Section 15hereof or in any other way impose upon the City any obligation
whatsoever with respect to Persons having interests in the Bonds other than their Holders,as
shown on the Bond Registerkept by the Bond Registrar. In the written acceptance of each
Paying Agent and Bond Registrar referred to in Section 6hereof, such Paying Agent and Bond
ORDINANCE NO. 617, P.8
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Registrar, respectively, shall agree to take all action necessary for all representations of the City
in the Representations Letter with respect to the Paying Agent and Bond Registrar, respectively,
to be complied with at all times.
The City's Representations Letter is for the purpose of effectuating the book-entry-only
system and shall not be deemed to amend, supersede or supplement the terms of this Bond
Ordinance, which terms are intended to be complete without reference to the Representations
Letter.In the event of any conflict between the terms of the Representations Letter and the terms
of this Bond Ordinance, the terms of thisBondOrdinance shall control. DTC may exercise the
rights of a Bondholder hereunder only in accordance with the terms hereof applicable to the
exercise of such rights.
Section 17.Transfers Outside Book-Entry System. In the event that (a)the City
determines that DTC is incapable of discharging or is unwilling to discharge its responsibilities
described herein and in the Representations Letter, (b)DTC determines to discontinue providing
its service as securities depository with respect to the Bonds at any time as provided in the
Representations Letter or (c)the City determines that it is in the best interests of the
Bondholders, as the beneficial owners of the Bonds, that they be able to obtain certificated
Bonds and an alternative book-entry system is not available or is not selected as provided in the
succeeding sentence, the City shall notify DTC and direct DTC to notify the Participants ofthe
availability through DTC of Bond certificates, and the Bonds shall no longer be restricted to
being registered in the Bond Registerkept by the Bond Registrar in the name of Cede & Co., as
nominee of DTC. At that time, the City may determine that theBonds shall be registered in the
name of and deposited with such other depository operating a universal book-entry system as
may be acceptable to the City or such depository's agent or designee, and, if the City does not
select such alternate universal book-entry system, the Bonds shall no longer be restricted to
being registered in the Bond Registerkept by the Bond Registrar in the name of Cede & Co., as
nominee of DTC, but may be registered in whatever name or names Bondholders transferring or
exchanging Bonds shall designate, in accordance with the provisionsofSection 11hereof.
Section 18.Payments to Cede & Co. Notwithstanding any other provision of thisBond
Ordinance to the contrary, so long as any Bond is registered in the name of Cede & Co., as
nominee ofDTC, all payments with respect to principal of, Prepayment Premium, if any, and
interest on such Bondsand all notices with respect to such Bondsshall be made and given,
respectively, in the manner provided in the Representations Letter.
Section 19.Assessment Lien. The assessments and the interest thereon have been and
shall continue to constitute, and are hereby declared to be, a lien in the amounts assessed against
each lot or tract of land within Fiber LID No. 2hereinbefore specified, which lien shall be
superior to the lien of any mortgage or other encumbrance, whether prior in time or not, and shall
constitute such lien until paid. The liens are effective as to the lots or tracts in the Cityas of the
date of recordation ofrdinance No. 615.
Section 20.Rights of Bond Owner. Pursuant to Section 50-1726, Idaho Code, as
amended,when issued, theBondsshall transfer to the Purchaser, or designee thereof,all the
rights and interest of the Cityin and with respect to every assessment against the property within
Fiber LID No. 2and the liens thereby created against the property of each owner assessed as
shall not have availed himself of the provisions of law in regard to the redemption of his property
from the lien or such assessment,and shall authorize the Purchaseror designee thereofto receive
and have collected the assessment or assessments to pay the Bondsthroughany of the methods
provided by law for the collection of assessments for local improvements.
Section 21.Reassessment. Pursuant to Section 50-1720, Idaho Code,as amended,the
City hereby covenants with the Purchaser and with all subsequent owners of the Bonds that if
ever the assessments within Fiber LID No. 2have failed to be valid in whole or in part for want
of form or sufficiency,informality, irregularity or nonconformance with the laws governing such
assessments, the City Council shall, to the extent permitted by law, reassess such assessments
and enforce their collection in accordance with the provisions of the law existing at the time the
reassessment is made. The City further covenants that when for any cause, mistake or
inadvertence the amounts heretofore assessed shall not be sufficient to pay the cost and expenses
ORDINANCE NO. 617, P.9
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of the Improvements made and enjoyed by owners of property inFiber LID No. 2, the City
Council shall make reassessments on all property in Fiber LID No. 2 sufficient to pay for such
Improvements. Such reassessment to be made and collected in accordance with the provisions of
the law existing at the time of its levy.
Section 22.Reissuance of Bonds.The City additionally covenants with the Purchaser and
the subsequent owners of the Bonds, pursuant to Section 50-1725, Idaho Code,as amended,that
if the City shall ever default in the payment of principal or interest or if the Bonds shall have
been declared invalid or void by order or decree of court, the City shall, to the extent permitted
by law, reissue the Bonds at the same rate of interest and in such amount as will cover the
principal and interest due on the Bonds, and thatthe Bonds upon which there has been default or
which have been declared invalid or void shall thereupon be surrendered and cancelled. The lien
created by the levy of assessments heretofore made for Fiber LID No. 2shall remain in full force
and effect.
Section 23.Tax Covenantsand Special Designations.
(a)The City covenants with the owner(s) of the Bonds that, notwithstanding any
other provision of this Bond Ordinance or any other instrument, it will take no action which
would adversely affect the tax exempt status ofBonds issued hereunder under Sections 103 or
148 of the Code pertaining to the exclusion of interest on the Bonds from gross income for
federal income tax purposes. The foregoing covenant shall extend throughout the term of the
Bonds. The City will execute a Tax Certificate dated the date of issuance and closing of the
Bonds hereunder with respect to such federal tax matters.
(b)The City further covenants that it will not take any action or permit any action to
be taken that would cause the Bondsto constits
the Code.
(c)The City hereby designates the Bonds as a-
within the meaning and for the purposes of Section 265(b)(3) of the Code, and the City does not
reasonably anticipate that it will designate more than $10,000,000, including the Bonds, as
Qualified Tax-Exempt Obligations during the calendar year in which the Bonds are issued.
(d)The City has not issued, and does not reasonably anticipate that it will issue, tax-
exempt obligationsin the face amount which exceeds $5,000,000 in the calendar year in which
theBonds are issued. Accordingly, under Section 148(f)(4)(D) of the Code, the City is not
required to pay rebate payments to the United States under Section 148 of the Code.
Section 24.General Authorization. The officials of the City are hereby authorized to do
and perform from time to time any and all acts and things consistent with this Bond Ordinance
necessary or appropriate to carry the same into effect.
Section 25.Conflicting Actions Repealed. Allordinances, resolutions and parts thereof
in conflict with the provisions of this Bond Ordinance, to the extent of such conflict, are hereby
repealed.
Section 26.Ordinance Irrepealable. After the Bondsareissued, this Bond Ordinance
shall be and remain irrepealable until the Bondsand the interest thereon shall be fully paid and
discharged, as herein provided.
Section 27.Severability. If any section, paragraph, clause or provision of this Bond
Ordinance shall be held to be invalid or unenforceable for any reason, the invalidity or
unenforceability of such section, paragraph, clause or provision shall in no manner affect any
remaining provision of this Bond Ordinance.
Section 28.Ordinance to Constitute Contract. In consideration of the purchase and
acceptance of any Bondsauthorized to be issued hereunder by thePurchaser, this Bond
Ordinance shall be deemed to be and shall constitute a contract between the City andthe
Purchaser, and the covenants and agreements set forth in this Bond Ordinance to be performed
ORDINANCE NO. 617, P.10
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on behalf of the City shall be for the equal benefit, protection and security of thePurchaser of the
Bonds.
Section 29.Publication and Effective Date. After its passage and adoption, a summary of
thisBondOrdinance, substantially in the form attached hereto as ExhibitB, shall be published
once in the official newspaper of the City, under the provisions of the Idaho Code, and upon such
publication shall be in full force and effect.Upon personal request, the CityClerkshall promptly
provide the full text of the Bond Ordinance to any citizen.
th
PASSEDat a specialmeeting of the City Councilof the Cityheld on the24day of
January, 2019.
CITY OF AMMON, BONNEVILLE
COUNTY,IDAHO
Sean Coletti, Mayor
ATTEST:
Rachael Sanders, City Clerk
ORDINANCE NO. 617, P.11
47773.0004.11536172.6
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I, the undersigned, City Clerk of the City of Ammon, Bonneville County, Idaho, hereby
certify that the foregoing Ordinance No. 617is a full, true, and correct copy of an Ordinance
duly adopted at a special
Council
Council on January24, 2019; all members of the City Council had due notice thereof; a majority
of the members were present; and that at said meeting said Ordinance was adopted by the
following vote:
Council members voting Yes:
Council members voting No:
Council members abstaining:
Council members absent:
I further certify that I have carefully compared the same with the original OrdinanceNo.
617on file and of record in my office; that said Ordinance is a full, true, and correct copy of the
original Ordinance adopted at said meeting; and that said Ordinance has not been amended,
modified, or rescinded since the date of its adoption, and is now in full force and effect.
I have set my hand on January 24, 2019.
CITY OF AMMON,
BONNEVILLE COUNTY, IDAHO
Rachael Sanders, City Clerk
ORDINANCE NO. 617, P.12
47773.0004.11536172.6
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EXHIBIT A
FORM OF BOND
THIS BOND WAS ORIGINALLY ISSUED IN A TRANSACTION EXEMPT FROMREGISTRATION UNDER THE UNITEDSTATES
SECURITIES ACT OF 1933, AS AMENDED (THE ND THIS BOND MAY NOTBE OFFERED, SOLD OR
OTHERWISE TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION ORAN APPLICABLE EXEMPTION THEREFROM.
EACH PURCHASER OF THIS BOND IS HEREBY NOTIFIED THAT THE SELLER OFTHIS BOND MAY BE RELYING ON THE
EXEMPTION FROM THE PROVISIONS OF SECTION5 OF THE SECURITIESACT PROVIDED BY RULE144A THEREUNDER.
THE HOLDER OF THIS BOND AGREES FOR THE BENEFIT OF THE ISSUERTHAT (A)THIS BOND MAY BE OFFERED, RESOLD,
PLEDGED OR OTHERWISETRANSFERRED ONLY (I)TO THE ISSUER; (II)INSIDE THE U.S. TOA PERSON WHOM THE SELLER
REASONABLY BELIEVES DEFINED IN RULE144A UNDER THE SECURITIES
ACT) IN A TRANSACTION MEETING THE REQUIREMENTSOF RULE144A; (III)PURSUANT TO AN EXEMPTION FROM
REGISTRATION UNDER THE SECURITIES ACT PROVIDED BY RULE 144(IF AVAILABLE); OR (IV)PURSUANT TO AN
EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT, IN EACH OF CASES (II)THROUGH (IV) IN
ACCORDANCEWITH ANY APPLICABLESECURITIES LAWS OF ANY STATE OF THE UNITEDSTATES, AND (B)THE HOLDER
WILL, AND EACH SUBSEQUENT HOLDER IS REQUIRED TO, NOTIFY ANY PURCHASER OF THIS BOND FROM IT OF THE
RESALE RESTRICTIONS REFERRED TO IN (A) ABOVE.
BY ITS ACQUISITION HEREOF, THE HOLDER REPRESENTS THAT (A)IT IS NEITHER AN EMPLOYEE BENEFIT OR OTHER PLAN
THAT IS SUBJECT TO ERISA OR SECTION4975OF THE CODE NOR ANYENTITY WHOSE UNDERLYING ASSETS INCLUDE
SON OF SUCH PLAN INVESTMENT IN THE ENTITY OR A GOVERNMENTAL PLAN WHICH IS SUBJECT
TO ANY FEDERAL, STATE OR LOCAL LAW THAT IS SUBSTANTIALLY SIMILAR TO THE PROVISIONS OF SECTION406 OF
ERISA OR SECTION4975 OF THE CODE; OR (B)IF IT IS AN ENTITYDESCRIBED IN CLAUSE(A), IT REPRESENTS THAT THE
ACQUISITION ANDHOLDING OF THIS BOND OR AN INTEREST THEREIN WILL NOT CONSTITUTE OR RESULT IN A NON-
EXEMPT PROHIBITED TRANSACTION UNDER ERISA OR SECTION4975 OFTHE CODE (OR IN THECASE OF A
GOVERNMENTAL PLAN, ANY SUBSTANTIALLY SIMILAR FEDERAL, STATE OR LOCAL LAW).
UNITEDSTATES OF AMERICA
No. R-1$570,000
CITY OF AMMON, BONNEVILLE COUNTY,IDAHO
FIBER OPTIC LOCAL IMPROVEMENT DISTRICTNO. 2BOND, SERIES 2019
CUSIP
INTEREST RATE:MATURITY DATE:DATED DATE:NO:___
5.00%01/29/203901/29/2019
REGISTERED OWNER:CEDE & CO.
PRINCIPAL AMOUNT:FIVE HUNDRED SEVENTYTHOUSANDAND00/100
DOLLARS
KNOW ALL MEN BY THESE PRESENTS that the City of Ammon, Bonneville
County, State of Idaho (the "City"), acknowledges itself indebted and for value received hereby
promises to pay,but only from the sources and as hereinafter provided,to the Registered Owner
identified above, or registered assigns, the above Principal Amount plus interest accruing on the
outstanding principal at the above Interest Rate. Annual payments ofprincipal andaccrued
interest hereon are payable pursuant to Schedule 1attached hereto, based on the outstanding
principal amortized over twenty (20)years, with interest accruing on the outstanding principal
amount from the date hereof, and with the final payment of the outstanding principal and accrued
interest thereon due and payable on the Maturity Date above, subject to prior redemption as
hereinafter provided.
U.S. Bank National Association is the initial bond registrar andpaying agent of the City
with respect to the Bonds. Said bond registrar and paying agent, together with any successor
EXHIBIT A TO ORDINANCE NO. 617, P.2
47773.0004.11536172.6
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bond registrar or paying agent, respectively, is referred to herein as the "Bond Registrar" and the
"Paying Agent."
Principal of and Prepayment Premium, as defined below, if any, on this Bond shall be
payable to the Registered Owneron Payment Date(s),as hereinafter defined,in any coin or
currency of the United States of America which at the time of payment is legal tender for the
payment of public and private debts; and payment ofinterest hereon shall be made to the
Registered Ownerhereof and shall be paidon the Payment Dateby check or draft mailed to the
th
person who is the Registered Ownerof record onthe15day of the month of each Payment
Date,and if not a business day of the Paying Agent, the next preceding day that is a business day
for the Paying Agent, at the address of such Registered Owneras it appears on the registration
books kept by the Bond Registrar or at such other address as is furnished in writing by such
Registered Ownerto the Bond Registrar, as provided in the hereinafter defined Bond Ordinance.
shall mean thedate of payment of theprincipal installmentsand interest
reflected on the attachedSchedule 1.
This Bond is issued in conformity with and after full compliance with the Constitution of
the State of Idaho and pursuant to the provisions of theLocal Improvement DistrictCode,
chapter 17, Title 50, Idaho Code, as amended,and all acts of the Legislature of the State of Idaho
applicable thereto. It is hereby expressly certified and recited that all acts and conditions
requisite and precedent to the validity of this issue have been properly done and performed in
regular and due time, formand manner, as required by law.
This Bond shall not be valid until the Certificate of Authentication hereon shall have been
manually signed by the Bond Registrar.
ThisBond is theFiber Optic Local Improvement District No. 2 Bond, Series 2019
(the "Bond") initially issuedas a fully registered termbondin the aggregate principal amount of
$570,000, dated as of the Dated Date and issued in conformity with and after full compliance
with the Act, and under and pursuant to OrdinanceNo.617of the City adopted on January 24,
2019(the "Bond Ordinance"), pursuant to the Actfor the purpose of providing for the financing
or refinancing of the costs and expenses of design, acquisition, construction and installation of
certain fiber optic system improvements and related appurtenances (collectively, the
pursuant to the Act.Except as otherwise provided herein and unless
the context clearly indicates otherwise, words and phrases used herein shall have the same
meanings as such words and phrases in the Bond Ordinance.
This Bond is payable as to principal,Prepayment Premium, if any,and interest, and is
secured by the irrevocable pledge and dedication of the funds to be derived from the collection of
special assessments on real property within Fiber LID No. 2, which special assessments were
levied byOrdinance No. 615passed and approved by the City Council of the City on
December6, 2018, and the unpaid portions of special assessments within Fiber LID No. 2which
have been pledged to the payment of this Bond, pursuant to the Bond Ordinance. The
assessments madeand levied to pay the costs and expenses of the work or Improvements
authorized by the provisions of the Act, or any law of the State of Idaho, are by statute made a
lien upon and against the property within Fiber LID No. 2upon which such assessment or
assessments were made and levied from and after December18, 2018, which lien is superior to
the lien of any mortgage or other encumbrance, whether prior in time or not, and shall constitute
such lien until paid. The Cityhereby obligates itself, and is bound under the terms and
provisions of said law, to cause said assessments to be properly collected, and to apply the
proceeds of said assessments to no other purpose than to pay when due the principal of,
Prepayment Premium, if any,and interest on this Bond.Such collected assessments, including
interest on unpaid assessments, shall be deposited into the Bond Fundand Interest Fund, as
applicable, createdunder the Bond Ordinance, until used to pay debt service on this Bond, and
pursuant to the Bond Ordinance, such monies are pledged by the City for payment of principal
and interest on the Bond.
EXHIBIT A TO ORDINANCE NO. 617, P.3
47773.0004.11536172.6
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Except as to property owner prepayments as provided below, the Bonds shall be
noncallable by the City.
In accordance with Section 50-1715, Idaho Code, as amended, property owners may
prepay their assessments in full at any time. Prepaid installments of assessments made after
January 7, 2019, which is thenext business day following thirty (30) days after adoption of City
Ordinance No. 615, must include the full principal amount of the unpaid assessments plus any
applicable penalties and all accrued interest through the date of paymentof the same, plus the
PrepaymentPremium. The Prepayment Premium is theamount of additional interest to be paid
on the principal amount of prepaid assessments in full (in addition to the accrued interest due
thereon when paid) at the rate of interest on the Bond from the date of the last installment of
assessments due through the Payment Date which is one (1) year after the next Payment Date on
the Bond from the date of prepayment.
Based on the amounts receivedfrom property owners upon prepayment of assessments,
and upon notice given as provided below, Bonds, in the principal installment amounts
determined by the Bond Registrar, aresubject to redemption prior to maturity in whole or in part,
on the applicable Payment Date,in the amounts of principal, Prepayment Premium, if any,and
accrued interest thereon, to the extent there is sufficient money in the Bond Fund and Interest
Fund to pay such amounts.
Upon notice given as provided in the Bond Ordinanceand in accordance with DTC
arrangements,principal installment amountsof the Bond,or portions thereof, to be redeemed
shall be selected by the Bond Registrar by lot and shall, inthe event less than all of the
outstanding Bonds are to be redeemed, insofar as can be done taking into consideration the
denominations of the outstanding Bonds, represent an equal amountof Bonds from each
maturity outstanding at the time of the redemption.Provided that funds for the redemption
price, together with interest to the redemption date, are on deposit at the place of payment at such
time, the Bonds shall cease to accrue interest on the specified redemption date and shall not be
deemed to be outstanding as of such redemption date.
This Bond is initially issued in the form of a separate single certificated fully registered
term Bond maturing the Maturity Date above, and registered in the name of Cede & Co., as
nominee of The Depository Trust Compan
Unless this Bond is presented by an authorized representative of DTC to the City or its
agent for registration of transfer, exchange, or payment, and any certificate issued is registered in
the name of Cede & Co. or in such other name as is requested by an authorized representative of
DTC (and any payment is made to Cede & Co. or to such other entity as is requested by an
authorized representative of DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF
FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the
Registered Ownerhereof, Cede & Co., has an interest herein.
In compliance with Section 50-1723, Idaho Code:
LIABILITY OF MUNICIPALITY.--The holder of any bond,
issued under the authority of this code, shall have no claim therefor
against the municipality by which the same is issued, except to the
extent of the funds created and received by assessments against the
property within any local improvement district as herein provided
and to the extent of the local improvement guarantee fund which
may be established by any such municipality under the provisions
of this code, but the municipality shall be held responsible for the
lawful levy of all special taxes or assessments herein provided and
for the faithful accounting of settlements and payments of the
special taxes and assessments levied for the payment of the bonds
as herein provided. The owners and holders of such bonds shall be
entitled to complete enforcement of all assessments made for the
payment for suchbonds. A copy of this section shall be plainly
written, printed or engraved on the face of each bond so issued.
EXHIBIT A TO ORDINANCE NO. 617, P.4
47773.0004.11536172.6
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The City has designated this-
Section 265(b)(3) of the Internal Revenue Code of 1986.
This Bond shall not be valid or become obligatory for any purpose or be entitled to any
security or benefit under the Bond Ordinance until the Certificate of Authentication hereon shall
have been manually signed by the Bond Registrar.
It is hereby certifiedthat all acts, conditions, and things required by the Constitution and
statutes of the State of Idaho to exist, to have happened, been done, and performed precedent to
and in the issuance of this Bond have happened, been done, and performed, and that the
aforesaid special assessments have been legally levied by the City.
IN WITNESS WHEREOF,the City has caused this Bond to be signed by the manual
signatures of the Mayor and City Treasurer thereof, and both signatures attested by the manual
th
signature of theClerk, all as of 29day ofJanuary, 2019.
CITY OF AMMON, BONNEVILLE
COUNTY,IDAHO
By:
Sean Coletti, Mayor
By:
Jennifer Belfield,CityTreasurer
ATTEST:
By:
Rachael Sanders, CityClerk
EXHIBIT A TO ORDINANCE NO. 617, P.5
47773.0004.11536172.6
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BOND REGISTRAR'S CERTIFICATE OF AUTHENTICATION
This Bond is theFiber Optic Local Improvement District No. 2 Bond, Series 2019, of the
City of Ammon, Bonneville County, Idaho, as described in the within mentioned Bond
Ordinance.
Date of registration
and authentication:
U.S. BANK NATIONAL ASSOCIATION,as
Bond Registrar
By_______________________________________
Vice President
EXHIBIT A TO ORDINANCE NO. 617, P.6
47773.0004.11536172.6
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ASSIGNMENT
FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto
Name of Transferee:
Address:
Tax Identification No.:
the within Bond and hereby irrevocably constitutes and appoints
of
to transfer said bond on the books kept for registration thereof with full power of substitution in
the premises.
Dated:
Registered Owner
NOTE: The signature on this Assignment must
correspond with the name of the Registered Owner
as it appears upon the face of the within Bond in
every particular, without alteration or enlargement
or any change whatever.
SIGNATURE GUARANTEED:
NOTICE:
the Stock Exchange Medallion Program or the New York Stock Exchange, Inc. Medallion Signature
Program).
******
EXHIBIT A TO ORDINANCE NO. 617, P.7
47773.0004.11536172.6
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SCHEDULE 1
EXHIBIT A TO ORDINANCE NO. 617, P.8
47773.0004.11536172.6
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EXHIBIT B
CITY OF AMMON
BONNEVILLE COUNTY, IDAHO
SUMMARY OF ORDINANCE NO. 617
FIBER OPTIC LOCAL IMPROVEMENT DISTRICT NO. 2
AN ORDINANCE AUTHORIZING THE ISSUANCE AND CONFIRMING
THE SALE OFTHEFIBER OPTIC LOCAL IMPROVEMENT DISTRICT NO.
2 BOND, SERIES 2019, IN THE PRINCIPAL AMOUNT OF $570,000;
APPROVING THE SALE OF THE BOND TO NEIGHBORLY SECURITIES,
INC., AS PURCHASER; PROVIDING FOR THE USE OF PROCEEDS
THEREOF; CREATING THE BOND FUNDAND INTEREST FUND FOR
PAYMENT OF THE BOND;PROVIDING FOR EXECUTION,
AUTHENTICATION, REGISTRATION AND TRANSFER OF THE BOND;
PROVIDING FOR A SYSTEM OF REGISTRATION THEREFOR; PLEDGING
FIBER OPTIC LOCAL IMPROVEMENT DISTRICT NO. 2 FOR AMMON,
IDAHO, ASSESSMENTS FOR PAYMENT OF THE BOND; PROVIDING FOR
CERTAIN FEDERAL TAX COVENANTSAND SPECIAL DESIGNATIONS
WITH RESPECT TO THE BOND; PRESCRIBING RELATED DETAILS AND
PROVISIONS CONCERNING THE FOREGOING; REPEALING
CONFLICTING PROCEEDINGS; PROVIDING IRREPEALABILITY;
PROVIDING SEVERABILITY; AND PROVIDING FOR PUBLICATION AND
EFFECTIVE DATE.
A summary of the principal provisions of Ordinance No.617
City of Ammon, Bonneville County,IdahoCitynJanuary 24, 2019, is set forth
below. Capitalized terms used in this summary shall have the meaningsgiven them in the
Ordinance.
Section 1:Definitions.Defines certain capitalized terms used in the Ordinance.
Section 2:Authorization and Sale of Bonds; Use of Proceeds. Authorizes the CityFiber
OpticLocal Improvement DistrictNo. 2Bond, Series 2019,in the aggregate
principal amount of $570,000(the s; authorizes the sale of
theBondtoNeighborly Securities, Inc., as purchaser(as,in the
principal amount thereof,to finance costs of design, acquisition, construction
and installation of certain fiber optic system improvements and related
appurtenances withinFiber Optic Local Improvement District No. 2
LID No. 2
Bond.
Section 3:Bond Details. Describes the Bondas a single fully registered term bond, with
final maturity of January29, 2039, and provides for the substantial form of the
Bond to be attached to the Ordinance.
Section 4:Installments; Interest Rate. Provides the Bond shall bear interest on unpaid
principal at 5.00% per annum, and principal and interest thereon shall be paid
pursuant the amortization schedule attached to the form of Bond.
Section 5:Bond Purchase Agreement.Provides the Bond shall be sold to the Purchaser
pursuant to a Bond Purchase Agreement, subject to certain transfer restrictions,
and authorizes officers of the City to execute the agreement.
EXHIBIT B TO ORDINANCE NO. 617, P.2
47773.0004.11536172.6
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Section 6:Paying Agent and Bond Registrar. AppointsU.S. Bank National Association as
the initial Bond Registrar and Paying Agent for the Bond.
Section 7:Prepayment of Assessments; Redemption. Sets forth the terms of prepayment
of assessments by property owners, pursuant to the LID Code, and provides for
redemption of theBond from proceeds of prepaid assessments to the extent of
money in the Bond Fund and Interest Fund.
Section 8:Creation of Bond Fund and Interest Fund; Pledge of Funds; Transfer of Funds
to Paying Agent.Creates the Bond Fund and Interest Fund to be held by the
City wherein all payments of levied assessments within Fiber LID No. 2,
including principal and interest, shall be deposited. Pledges monies held in the
Bond Fund and Interest Fund for payment of the Bonds.Provides that the City
shall transfer from such funds moneys to the Paying Agent no later than fifteen
(15) days prior to each Payment Date in sufficient amount to pay the scheduled
debt service payment and Prepayment Premium, if applicable, on the Bond.
Section 9:Delinquent Assessments; Distribution of Collections.Provides for penalty and
additional interest to be assessed on delinquent assessments pursuant to the LID
Code,
the delinquent assessments, to the extent permitted by law.
Section 10:Execution and Authentication of Bond. Provides for execution and
authentication of the Bond by the Cityand the Bond Registrar.
Section 11:Transfer/Exchange of Bonds.Sets out provisions for transfer and/or exchange
oftheBond when theBondisnot registered through DTC.
Section 12:Bond Registration Books. Provides that the Bond Ordinance constitutes a
system of registration pursuant to chapter 9 of Title 57, Idaho Code, and that the
Bond Registrar shall maintain the records of registration and transfer of the
Bond at its corporate office.
Section 13:List of Bondholders.Provides that the Bond Registrar shall maintain a list of
names and addresses of Bondholders of the Bond, and holders subsequent to
transfer thereof.
Section 14:Duties of Bond Registrar. Provides that City may enter into an agreement with
the Bond Registrar with respect to compensation, obligations and duties of the
Bond Registrar with respect to the Bond.
Section 15:Book-Entry Systems, Limited Obligation. Provides that the Bond shall be
initially issued in the form of a separate single certificated fully registered term
Bond, the ownership of which shall be registered in the Bond Register in the
and sets forth the limited obligations to DTC participants of the City, Bond
Registrar and Paying Agent with respect to the Bond.
Section 16:Representations Letter
Blanket Letter of Representations to be filed with DTC.
Section 17:Transfers Outside Book-Entry System. Sets forth the procedure to transfer and
exchangetheBond when the Bondisno longer book-entry registered through
DTC.
Section 18:Payments to Cede & Co. Provides that so long as the Bondis registered in the
name of Cede & Co., as nominee of DTC, all payments of principal of,
Prepayment Premium, if any, and interest on such Bond and notices shall be
made and given pursuant to the Representations Letter.
EXHIBIT B TO ORDINANCE NO. 617, P.3
47773.0004.11536172.6
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Section 19:Assessment Lien. Declares the assessments and the interest thereon a lien in the
amounts assessed against each lot or tract of land within Fiber LID No. 2,
superior to the lien of any mortgage or other encumbrance, whether prior in
time or not, until paid. The liens are effective as to the lots or tracts inFiber
LID No. 2as of December 18,2018, the date of recordation of the notice of
Ordinance No. 615, the assessmentlevyordinance.
Section 20:Rightsof Bond Owner.Provides that, when issued, the Bond shall transfer to
the Purchaser, or designee thereof, all the rights and interest of the City in and
with respect to every assessment against the property within Fiber LID No. 2
and authorizes the Purchaser or designee thereof to receive and have collected
the assessments through any of the methods provided by law for the collection
of assessments for local improvements.
Section 21:Reassessment.The City covenants that if ever the assessments within Fiber
LID No. 2have failed to be valid in whole or in part for want of form or
sufficiency, informality, irregularity or nonconformance with the laws
governing such assessments, the City Council shall, to the extent permitted by
law, reassess such assessments and enforce their collection in accordance with
the provisions of the law existing at the time the reassessment is made. The
City further covenants that when for any cause, mistake or inadvertence the
amounts heretofore assessed shall not be sufficient to pay the cost and expenses
of the Improvements made and enjoyed by owners of property in Fiber LID No.
2, the City Council shall make reassessments on all property in Fiber LID No. 2
sufficient to pay for such Improvements.
Section 22:Reissuance of Bonds. The City covenants that if the City shall ever default in
the payment of principal or interest or if the Bonds shall have been declared
invalid or void by order or decree of court, the City shall, to the extent
permitted by law, reissue the Bond at the same rate of interest and in such
amount as will cover the principal and interest due on the Bond, and that the
Bond upon which there has been default or which has been declared invalid or
void shall thereupon be surrendered and cancelled. The lien created by the levy
of assessments heretofore made for Fiber LID No. 2shall remain in full force
and effect
Section 23:Tax Covenantsand Special Designations.Includescovenants to comply with
federal tax requirements, designation of the Bondas a-Exempt
and thatpursuant to Section 148(f)(4)(D) of the Code, the City is
exemptfrom rebate payments to the United Stateswith respect to the Bond.
Section 24:General Authorization.Authorizes the officials of the City to do and perform all
acts and things consistent with the Ordinance to carry the same into effect.
Section 25:Conflicting Actions Repealed.Repeals all ordinances, resolutions and parts
thereof in conflict with the provisions of the Ordinance, to the extent of such
conflict.
Section 26:Ordinance Irrepealable.Provides the Ordinance shall be and remain
irrepealable until the Bond and the interest thereon shall be fully paid and
discharged.
Section 27:Severability.Provides that if any section of the Ordinance is invalid or
unenforceable, that invalidity will not affect the remainder of the Ordinance.
Section 28:Ordinance to Constitute Contract. Provides that the Ordinance shall constitute a
agreements in the Ordinance shall be for the equal benefit, protection and
security of the Purchaser.
EXHIBIT B TO ORDINANCE NO. 617, P.4
47773.0004.11536172.6
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Section 29:Publication and Effective Date.After passage and adoption of the Ordinance,
provides that this summary shall be publishedonce in the official newspaper of
theCity, and upon such publication shall be in full force and effect.
Provides the Form of Bond.
ExhibitA:
Exhibit B:Sets forth the substantial form of this Summary for publication.
A full text of Ordinance No.617is available by requesting a copy from the CityClerk,
2135 South Ammon Road, Ammon Idaho.
th
APPROVED this 24day of January, 2019.
CITY OF AMMON, BONNEVILLE
COUNTY,IDAHO
Sean Coletti, Mayor
ATTEST:
___________________________________
Rachael Sanders, City Clerk
CERTIFICATION OF COUNSEL
I, the undersigned legal advisor for theCity of Ammon, Bonneville County,Idaho,
hereby certify that I have read the attached Summary of Ordinance No.617ofsaid Cityand that
the same is true and complete and provides adequate notice to the public of the contents of said
Ordinance.
DATED as of this 24thday of January, 2019.
By:_____________________________________
Scott Hall, City Attorney
EXHIBIT B TO ORDINANCE NO. 617, P.5
47773.0004.11536172.6
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ORDINANCE 617and SUMMARY
FIBER OPTIC LOCAL IMPROVEMENT DISTRICT NO. 2
AN ORDINANCE AUTHORIZING THE ISSUANCE AND CONFIRMING THE SALE OF
THEFIBER OPTIC LOCAL IMPROVEMENT DISTRICT NO. 2 BOND, SERIES 2019, IN
THE PRINCIPAL AMOUNT OF $570,000; APPROVING THE SALE OF THE BOND TO
NEIGHBORLY SECURITIES,INC., AS PURCHASER; PROVIDING FOR THE USE OF
PROCEEDS THEREOF; CREATING THE BOND FUNDAND INTEREST FUND FOR
PAYMENT OF THE BOND;PROVIDING FOR EXECUTION, AUTHENTICATION,
REGISTRATIONAND TRANSFER OF THE BOND; PROVIDING FOR A SYSTEM OF
REGISTRATION THEREFOR; PLEDGING FIBEROPTIC LOCAL IMPROVEMENT
DISTRICT NO. 2 FOR AMMON, IDAHO, ASSESSMENTS FOR PAYMENT OF THE
BOND; PROVIDING FOR CERTAIN FEDERAL TAX COVENANTSAND SPECIAL
DESIGNATIONSWITH RESPECT TO THE BOND; PRESCRIBING RELATED DETAILS
AND PROVISIONS CONCERNING THE FOREGOING; REPEALING CONFLICTING
PROCEEDINGS; PROVIDING IRREPEALABILITY; PROVIDING SEVERABILITY; AND
PROVIDING FOR PUBLICATION AND EFFECTIVE DATE.
I move that the City Council dispense with the rule requiring the ordinance be read on
three different days and that the three readings be waived.
ORDINANCE 617and SUMMARY
FIBER OPTIC LOCAL IMPROVEMENT DISTRICT NO. 2
AN ORDINANCE AUTHORIZING THE ISSUANCE AND CONFIRMING THE SALE OF
THEFIBER OPTIC LOCAL IMPROVEMENT DISTRICT NO. 2 BOND, SERIES 2019, IN
THE PRINCIPAL AMOUNT OF $570,000; APPROVING THE SALE OF THE BOND TO
NEIGHBORLY SECURITIES,INC., AS PURCHASER; PROVIDING FOR THE USE OF
PROCEEDS THEREOF; CREATING THE BOND FUNDAND INTEREST FUND FOR
PAYMENT OF THE BOND;PROVIDING FOR EXECUTION, AUTHENTICATION,
REGISTRATIONAND TRANSFER OF THE BOND; PROVIDING FOR A SYSTEM OF
REGISTRATION THEREFOR; PLEDGING FIBEROPTIC LOCAL IMPROVEMENT
DISTRICT NO. 2 FOR AMMON, IDAHO, ASSESSMENTS FOR PAYMENT OF THE
BOND; PROVIDING FOR CERTAIN FEDERAL TAX COVENANTSAND SPECIAL
DESIGNATIONSWITH RESPECT TO THE BOND; PRESCRIBING RELATED DETAILS
AND PROVISIONS CONCERNING THE FOREGOING; REPEALING CONFLICTING
PROCEEDINGS; PROVIDING IRREPEALABILITY; PROVIDING SEVERABILITY; AND
PROVIDING FOR PUBLICATION AND EFFECTIVE DATE.
I move the adoption of Ordinance 617 and Summaryas an ordinance of the City of
Ammon on its third and final reading.
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CITY OF AMMON
BONNEVILLE COUNTY, IDAHO
ORDINANCE NO. 618
(Providing for Issuance and Sale of an Interim Warrant)
FIBER OPTIC LOCAL IMPROVEMENT DISTRICT NO. 3
WARRANT, 2019
AN ORDINANCE OF THE CITY OF AMMON,BONNEVILLE COUNTY,
IDAHO, PROVIDING FOR THE ISSUANCE AND SALE OF A WARRANT
FOR THE PURPOSE OF PROVIDING INTERIM FINANCING FOR CERTAIN
FIBER OPTIC SYSTEM IMPROVEMENTS AND RELATED
APPURTENANCES WITHINFIBER OPTIC LOCAL IMPROVEMENT
DISTRICT NO. 3FOR AMMON, IDAHO IN THEAGGREGATE PRINCIPAL
AMOUNT OF NOT TO EXCEED $1,500,000; PROVIDING THE FORM,
TERMS AND MATURITY OF THE WARRANT;ANDAPPROVING THE
SALE OF THE WARRANT.
Approved on January 24,2019
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47773.0005.11607181.1
CITY OF AMMON
BONNEVILLE COUNTY, IDAHO
FIBER OPTIC LOCAL IMPROVEMENT DISTRICT NO. 3
WARRANT, 2019
ORDINANCE NO. 618
TABLE OF CONTENTS
Page
#®³¤³²
Section 1. Definitions..............................................................................................................1
Section 2. Authorization of the Warrant..............................................................................2
Section 3. Prior Redemption..................................................................................................3
Section 4. Registration; Transferability...............................................................................3
Section 5. Repayment FundSecurity and Sources of Payment for the Warrant..........3
Section 6. Execution and Delivery of the Warrant..............................................................3
Section 7. Sale of the Warrant and Authorization of CityOfficials..................................4
Section 8. Disposition of Drawings Under the Warrant.....................................................4
Section 9. Lost, Destroyed or Mutilated Warrant...............................................................4
Section 10. Representations and Warranties.........................................................................4
Section 11. Punctual Payment of Warrant.............................................................................4
Section 12. Form of Warrant and Certificate of Authentication.........................................5
Section 13. General Authorization..........................................................................................7
Section 14. Effect of Partial Invalidity....................................................................................7
Section 15. Effect of Covenants...............................................................................................7
Section 16. Ordinance to Constitute Contract.......................................................................7
Section 17. Publication and Effective Date............................................................................7
* This Table of Contents and the cover page are provided for convenience of the reader only and
are not a part of this Ordinance.
27 of 58
47773.0005.11607181.1
ORDINANCE NO. 618
AN ORDINANCE OF THE CITY OF AMMON,BONNEVILLE COUNTY,
IDAHO, PROVIDING FOR THE ISSUANCE AND SALE OF A WARRANT
FOR THE PURPOSE OF PROVIDING INTERIM FINANCING FOR CERTAIN
FIBER OPTIC SYSTEM IMPROVEMENTS AND RELATED
APPURTENANCES WITHINFIBER OPTIC LOCAL IMPROVEMENT
DISTRICT NO. 3FOR AMMON, IDAHO IN THE AGGREGATE PRINCIPAL
AMOUNT OF NOT TO EXCEED $1,500,000; PROVIDING THE FORM,
TERMS AND MATURITY OF THE WARRANT;ANDAPPROVING THE
SALE OF THE WARRANT.
BE IT ORDAINED BYTHE CITY COUNCIL OF THE CITY OF AMMON,
BONNEVILLE COUNTY, IDAHO,AS FOLLOWS:
WHEREAS,theCity of Ammon, BonnevilleCounty, Idaho (the City),is a municipal
corporation operating and existing under and pursuant to the provisions of the Constitution and
laws of the State of Idaho;
WHEREAS,pursuant tochapter 17, Title 50,Idaho Code, the City is authorized and
empowered to create local improvement districts for the purpose of acquiring, constructing, and
installing improvements and appurtenances, together with engineering, legal, accounting, costs of
bond issuance, and other costs incidental thereto as authorized bylaw, and to finance said
improvements by the issuance and sale of local improvement district bonds or warrants, which
bonds or warrants are payable solely from assessments upon the property benefited by said
improvements;
WHEREAS, the City Council of the City (the City Council)by Ordinance No. 616,
adopted January 17,2019, created Fiber Optic Local Improvement District No. 3for Ammon,
Idaho(Fiber LID No. 3), and provided for the issuance of local improvement district bonds
and/orwarrantstofinance the costs of design, acquisition, construction and installation of certain
fiber optic system improvements and related appurtenances (collectively, the Improvements);
WHEREAS, Section 50-1722,Idaho Code,authorizes the Cityto issue interim warrants to
pay construction expenses in advance of the issuance of local improvement district bonds if said
bonds have been authorized to be issued, to temporarily financethe costs for the
Improvements;
WHEREAS, it is deemed necessary and desirable that the City, acting on behalf of Fiber
LID No. 3, in order to pay the costs of theImprovements,issue and sell short-term obligations in
the form of a local improvement district warrant; and
WHEREAS, theCity, acting on its own behalfand separate and apart from its role on
behalf of Fiber LID No. 3,intendstopurchasethe warrant authorized herein on terms the City
Council deems acceptable.
NOW, THEREFORE, BE IT FURTHER RESOLVED AND ORDAINED BY THE
CITY COUNCILOFTHECITY OF AMMON,BONNEVILLE COUNTY,IDAHO, as
follows:
Section 1.Definitions. As used in this Ordinance, the following words shall have the
following meanings:
Bondsmean theFiber LID No. 3Bondsof the City, the proceeds of which shall be used to
pay and redeem the Warrant or any refunding interim warrant(s), and to finance the Improvements.
Citymeans the City of Ammon, Bonneville County, Idaho, amunicipal corporation
operating and existing under and pursuant to the provisions of the Constitution and laws of the
State of Idaho.
City ClerkorClerkmeans the de facto or de jure City Clerk of the City, or other officer of
the City who is the custodian of the records of the proceedings of the City, or his/her successor in
function, if any.
ORDINANCE NO. 618Page 1
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47773.0005.11607181.1
City CouncilorCouncilmeans the City Council of the City, as the same shall be duly and
regularly constituted from time to time.
Codemeans the Internal Revenue Code of 1986, as amended, together with corresponding
and applicable regulations and revenue rulings issued with respect thereto by the Treasury
Department or the Internal Revenue Service of the United States.
Fiber LIDNo. 3means Fiber Optic Local Improvement District No. 3for Ammon, Idaho.
Improvementsmean:
(i)The design, acquisition, construction and installation of fiber optic system
improvements and related appurtenances, including, but not limited to: (a) fiber optic cable, duct,
vaults, pedestals, enclosures and terminations, (b) premise equipment, (c) remote office switch
equipment and optics, and (d) installation labor;
(ii)Acquisition of easements and/or rights-of-way, as necessary; and
(iii)Engineering, legal, accounting, costs of bond issuance, costs of interim financing,
costs of financial advice, the funding of a guarantee fund and/or reserve account to secure payment
of financing, and other costs incidental thereto. It is anticipated that all work will be performed
by the City andthatall materials will be supplied pursuant to the sole source procurement
provisions of Idaho Code § 67-2808 after publication of propernotice.
Improvements Fundmeans the Fiber LIDNo. 3Improvements Fund, created in the office
of the Treasurerby Section 8of this Ordinance.
Interest Ratemeans a fixed annual rate of interest equal to 2.00%.
Interest Payment Datemeans the date of maturity of the Warrant or a date of prepayment
of the Warrant as permitted by Section 3of this Ordinance.
Mayormeans the Mayor of the City, or any presiding officer or titular head of the City, or
his/her successor in functions, if any.
Ordinancemeans this Ordinance No. 618adopted by the City Councilon January 24,
2019.
Purchasermeans the City of Ammon, Bonneville County, Idaho, amunicipal corporation
operating and existing under and pursuant to the provisions of the Constitution and laws of the
State of Idaho,acting in its capacity as purchaser of the Warrant.
Registered Ownermeans the person named as the registered owner of the Warrant in the
Warrant Register.
Repayment Fundmeans theFiberLIDNo. 3Warrant Repayment Fund, created in the
office of the Treasurerby Section 5of this Ordinance.
Treasurermeans the duly appointed Treasurer of the City, or his/her successor in function,
if any.
Warrantmeans the local improvement district warrant authorized under Section 2of this
Ordinance.
Warrant Registermeans the registration books showing the name, address andtax
identification number of each registered owner of the Warrant, maintained pursuant to Section
149(a) of the Code.
Warrant Registrarmeans the Treasurer, or his/her successor in functions, as now or
hereafter designated for the purposes of registering and authenticating the Warrant, maintaining
the Warrant Register, effecting transfer of ownership of the Warrant and paying interest on and
principal of the Warrant.
Section 2.Authorization of the Warrant. For the purpose of providing interim
financing of the Improvements pending their completion and the issuance of the Bonds, the City
ORDINANCE NO. 618Page 2
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47773.0005.11607181.1
Councilhereby authorizes the issuance and sale of local improvement district warrant
in the aggregate principal amount of not to exceed $1,500,000(the Warrant), subject to
principal draws thereunder (theDraws), with final maturity two (2) yearsfrom the date of
issuance.The Warrantshall be designated as the Fiber Optic Local Improvement District No. 3
for Ammon, Idaho Warrant, 2019,shall be dated as of the date of its original issuance,shall be
numbered W-1,and shallbe issued infullyregistered form in the denomination of not to exceed
$1,500,000, provided that the principal amount due and owing thereunder shall be measured by
the total Drawsmade,with total Draws outstanding at any time limited to the maximum of
$1,500,000to beevidenced by the grid attached to theWarrantor in a similar manner.Outstanding
Draws shall bear interest at the Interest Rate accruing from the date of each Draw, which accrued
interest thereon shall be payable on each Interest Payment Date.Interest on the Warrant shall be
calculatedon the basis of a 365-360day year.
The Warrant shall be an obligation only of the Repayment Fundand shall be payable and
secured as provided herein. The Warrant shall not be deemed to constitute a general obligation or
a pledge of the faith and credit or taxing power of the City, BonnevilleCounty,or the State of
Idahoor any political subdivision thereof.
Both principal of and interest on the Warrant shall be payable in lawful money of the United
Statesof America.Upon the final payment of all principal of and interest on the Warrant, nolater
than the maturity date thereof, the Warrant shall be surrendered to the Warrant Registrar for
cancellation.
Section 3.Prior Redemption. Draws under theWarrant may be prepaid in whole or
in part at any timeprior to maturitydelivered by the
Treasurer of the Cityto the Purchaser, with prepayments to be appliedfirst to interest accrued from
the date of each Draw and then to principal.
Section 4.Registration; Transferability. The Cityhereby appoints the Treasurerto
act as the Warrant Registrar.Theduties of the Warrant Registrar hereunder shall be limited to
authenticating the Warrant and to remitting to the Purchasermoney made available by the Cityin
theRepayment Fundpursuant to Section 5,to pay interest when due and principal on the maturity
date of the Warrant.The Warrant shall be transferableby the Purchaser, in whole only, toa
.
Section 5.Repayment Fund Security and Sources of Payment for the Warrant.
There is hereby authorized to be established and the Treasureris authorized and requested to
establish a special fund of the Cityto be known as the Fiber LIDNo. 3Warrant Repayment Fund
(the Repayment Fund), which fund shall be a trust fund and shall be drawn upon only for the
payment of the principal of and interest on the Warrant.Money in the Repayment Fundshall be
invested by the Cityin any investment that is legal for funds of the City, and the interest earnings
on such investments shall be deposited into the Improvements Fund.The Cityhereby covenants
and agrees thaton or before each Interest Payment Dateit will deposit money into the Repayment
Fund sufficientto pay accrued interest on principal drawn under the Warrantand further covenants
and agrees to issue the Bonds, or a refunding warrant prior to issuance of the Bonds, in order to
provide funds sufficient for the payment of principal and interest due on such Interest Payment
Date.The Warrant is payable solely from the proceeds of the Bonds,or a refunding warrant prior
to issuance of the Bonds,and the Bonds are to be payable from assessments levied upon the
property of only those property owners within Fiber LID No. 3whohave specifically elected to
be benefited by the Improvements. The Warrant shall be an obligation only of the Repayment
Fund.
Section 6.Execution and Delivery of the Warrant. The Warrant shall be executed
on behalf of the Cityby the manual or facsimile signatures of the Mayorand theTreasurerand
attested by the City Clerk. In case any officer whose signature shall appear on the Warrant shall
cease to be an officer before the delivery of such Warrant, such signature shall nevertheless be
valid and sufficient for all purposes, and such Warrant may be authenticated and delivered the
same as if such officer had remained in office until such delivery.
Only such Warrant as shall bear thereon a Certificate of Authentication in the form
hereinafter specified in Section 12, manually executed by the Warrant Registrar, shall be valid or
obligatory for any purpose or entitled to the benefits of this Ordinance.Such Certificate of
ORDINANCE NO. 618Page 3
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47773.0005.11607181.1
Authentication shall be conclusive evidence that the Warrant so authenticated has been duly
executed, authenticated and delivered hereunder and is entitled to the benefits of this Ordinance.
Section 7.Sale of the Warrant and Authorization of CityOfficials. The City
hereby accepts the offer of the Purchaserto purchase the Warrantin an amount not toexceed
$1,500,000, the sale proceeds to be paid by the Purchaser pursuant to Drawsin accordance with
the terms contained in this Ordinance.The proper Cityofficials are hereby authorized and directed
to do everything necessary for the prompt execution and delivery of the Warrant to thePurchaser
and for the proper application and use of the proceeds of sale thereof and any acts taken in
accordance with the Purchaser
Section 8.Disposition of Drawings Underthe Warrant.There is hereby authorized
to be established and the Treasureris authorized and requested to establish a special fund of the
Cityto be known as the Fiber LID No. 3Improvements Fund(the Improvements Fund),
which fund shall be a trustfundholding proceeds of the Warrant when drawnand shall be used
only to pay the expenses associated with the construction of the Improvementsand costs of
issuance of the Warrant. Following the execution and delivery of the Warrant, the Cityshall notify
thePurchaserin writing each time that a Draw is required to pay acost(s)of the Improvementsor
costs of issuance of the Warrant.The Purchaserwill then notify the Treasurerofits intent to
transfer, by wire or otherwise,a Draw (including the dollar amount of the Draw and the date on
which the Draw amount will be transferredto the Treasurerfor deposit into the Improvements
Fund, as designated by the City).It is anticipated that Draws will be on no more than a monthly
basis. The aggregate amount of Draws may not exceed $1,500,000.The drawings under the
Warrant shall be deposited in the Improvements Fund, as designated by the Cityand shall be used,
together with other moneys on deposit therein and available therefor, for the undertaking of the
Improvements and for paying all expenses incidental thereto (including but not limited to costs of
issuance of the Warrant, engineering, financing, legal or any other incidental costs) and for
repaying any advances by the Cityheretofore or hereafter made on account of such costs or for
redeeming the Warrant.
Proceeds of the Warrant may be used to pay the costs and expenses as set out in the reports
of the engineersfortheCity.
All funds held in the Improvements Fund may be invested in any legal investment of the
City, and all earnings thereon shall be retained inthe Improvements Fund.
Section 9.Lost, Destroyed or Mutilated Warrant. In the event the Warrant is lost,
destroyed, or mutilated, the Citywill cause to be issued a new Warrant, substantially similar to the
original, to replace the same, in such manner and upon such reasonable terms and conditions as
the Warrant Registrar may from time to time determine.
Section 10.Representations and Warranties. The Cityhereby makes the following
representations, warranties and agreements:
(a)The Cityhas full legal right, powerand authority (1)to pass this Ordinance, (2)to
sell, issue and deliver the Warrant as provided herein, (3) to issue theBondsafter completion of
the Improvements; and (4)to carry outand consummate all other transactions contemplated by
this Ordinance.
(b)By all necessary official action prior to or concurrently herewith, the Cityhas duly
authorized and approved the execution and delivery of and the performance by the Cityof its
obligations contained in the Warrant and this Ordinance,and the consummation by it of all other
transactions contemplated by this Ordinance in connection with the issuance of the Warrant, and
such authorizations and approvals are in full force and effect and have not been amended, modified
or supplemented in any material respect.
(c)ThisOrdinance constitutes the legal, valid and binding obligation of the City.
(d)The Warrant, when issued, authenticated and delivered, will constitute the legal,
valid and binding special obligation of the Cityon behalf of Fiber LID No. 3in accordance with
its terms.
Section 11.Punctual Payment of Warrant. The Citycovenants that amounts on
deposit in the Repayment Fundshall be drawn upon solely for the purpose of paying the principal
ORDINANCE NO. 618Page 4
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47773.0005.11607181.1
of and interest on the Warrant.The Cityfurther covenants that it will duly and punctually pay or
cause to be paid the principal of and interest on the Warrant at the place or places, on the date or
dates and in the manner provided in the Warrant and herein.The Cityfurther covenants and agrees
that it will deposit moneys from the sources herein provided or issue arefunding interim warrant
or interim warrants in such amount(s) and at such time as will enable it to make the deposits into
theRepayment Fundrequired by Section 5of this Ordinance.
Section 12.Form of Warrant and Certificate of Authentication. The Warrant shall
be in substantially the following form:
\[Form of Warrant\]
UNITED STATES OF AMERICA
$1,500,000(or as much thereofNo. W-1
as is shown on the attached grid)
STATE OF IDAHO
CITY OF AMMON, BONNEVILLE COUNTY, IDAHO
FIBER OPTIC LOCAL IMPROVEMENT DISTRICT NO. 3WARRANT, 2019
INTEREST RATE:DATED DATE:MATURITY DATE:
2.00%________,2019_______________, 2021
REGISTERED OWNER:CITY OF AMMON, BONNEVILLE COUNTY, IDAHO
PRINCIPALAMOUNT:ONE MILLION FIVEHUNDRED THOUSAND AND
NO/100 DOLLARS(or as much thereof as is shown on the
attached grid)
The City of Ammon, Bonneville County, Idaho, acting on behalf of Fiber Optic Local
Improvement District No. 3for Ammon, Idaho(the City), hereby acknowledges itself to owe
and for value received promises to pay to the Registered Owner identified above, or registered
assigns, on the Maturity Date the Principal Amount,or as much thereof drawn by the City
,together with interest thereonfrom the date of each Drawat the Interest Rate.The
amount of outstanding Draws at any one time is limited to no more than $1,500,000, to be
evidenced on Schedule A to this Warrantor in a similar manner. Accrued interest ispayable on
the Maturity Date or on adate of prepayment, in whole or in part, of this Warrant andall
outstanding principal isdue on the Maturity Datetogether with any unpaid interest thereon.
Interest on the Warrant shall be calculated on the basis of a 365-360day year. Both principal of
and interest on this Warrant are payable in lawful money of the United States of America.
The final payment of principal and interest on this Warrant shall be payable upon
presentation of this Warrant to the Treasurerof the City, as registrar (Warrant Registrar).Draws
under this Warrant may be prepaid in whole or in part at any time prior to the Maturity Date,
to the Registered
Owner, with prepayments to be applied first to interest accrued from the date of each Draw and
then to principal.
This Warrant is issued pursuant to Ordinance No.618of the Citypassed on January 24,
2019(the Warrant Ordinance)and in accordance with the provisions of the Constitution and
applicable statutes of the State of Idaho for the purpose of providing interim financing and paying
part of the costs of Improvements inFiber OpticLocal Improvement District No. 3for Ammon,
Idaho(Fiber LID No. 3).ThisWarrant is issued in anticipation of the issuance of Fiber LID No.
3Bonds authorized by the City.Terms not otherwise defined herein shall have the meanings set
forth in the Warrant Ordinance.
ThisWarrant is a special obligation of the Cityacting on behalf of Fiber LID No. 3and is
payable solely fromthe proceeds of local improvement district bonds or refunding warrant(s)to
be issued by the City on behalf of Fiber LID No. 3,which proceeds the City has covenanted and
agreed to deposit in theFiberLID No. 3Warrant Repayment Fundof the City.Such local
improvement district bondsare to be payable from assessments levied upon the property of only
ORDINANCE NO. 618Page 5
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47773.0005.11607181.1
those property owners within Fiber LID No. 3whohave specifically elected to be benefited by the
Improvements.
ThisWarrant shall not be valid or become obligatory for any purpose or be entitled to any
security or benefit under the Warrant Ordinance until the Certificate of Authentication hereon shall
have been manually signed by or on behalf of the Warrant Registrar.
It is hereby certified that all acts, conditions and things required by the Constitution and
statutes of the State of Idaho to exist, to have happened, been done and performed precedent to
and in the issuance of this Warrant have happened, been done and performed and that the issuance
of this Warrant does not violate any constitutional, statutory or other limitation upon the amount
of indebtedness that the Citymay incur.
IN WITNESS WHEREOF, the City Councilofthe Cityhas caused this Warrant to be
signed with the manual or facsimile signature of the Mayorand Treasurer, both of which shall be
attested by the manual or facsimile signature of the City Clerk, as of this ____ day of
_____________,2019.
CITY OF AMMON, BONNEVILLE
COUNTY, IDAHO,actingon behalf of Fiber
Optic Local Improvement District No. 3for
Ammon, Idaho
By:
Mayor
By:
Treasurer
ATTEST:
City Clerk
CERTIFICATE OF AUTHENTICATION
ThisWarrant is the interim warrant described in the within-mentioned Warrant Ordinance
and is the Fiber Optic Local Improvement District No. 3Warrant, 2019of the City of Ammon,
Bonneville County, Idaho, dated___________________, 2019.
Dated: _________________________Registrar:
By:
Treasurer
********
ORDINANCE NO. 618Page 6
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47773.0005.11607181.1
SCHEDULEA
CITY OF AMMON
BONNEVILLE COUNTY, IDAHO
FIBER OPTIC LOCAL IMPROVEMENT DISTRICT 1 WARRANT, 2019
ADVANCES AND PAYMENTS OF PRINCIPAL
Amount ofUnpaid
Amount ofPrincipal PaidPrincipalNotation
DatePrincipal Drawor PrepaidBalanceMade By
\[End of Warrant Form\]
Section 13.General Authorization. The officials of the Cityare hereby authorized to
do and perform from time to time any and all acts and things consistent with this Ordinance
necessary or appropriate to carrythe same into effect.
Section 14.Effect of Partial Invalidity. In case any one or more of the provisions of
this Ordinance or the Warrant shall for any reason be held to be illegal or invalid, such illegality
or invalidity shall not affect any other provision of this Ordinance or Warrant, but this Ordinance
and Warrant shall be construed and enforced as if such illegal or invalid provision had not been
contained therein.In case any covenant, obligation or agreement contained in the Warrant or in
this Ordinance shall for any reason be held to be in violation of law, then such covenant, obligation
or agreement shall be deemed to be the covenant, obligation or agreement of the Cityto the fullest
extent permitted by law.
Section 15.Effect of Covenants. No covenant, obligation or agreement contained
herein shall be deemed to be a covenant, obligation or agreement of any present or future official,
member, agent or employee of the Cityin his or her individual capacity, and neither the members
of the City Councilnor any officer thereof executing the Warrant shall be liable personally on the
Warrant or be subject to any personal liability or accountability by reason of the issuance thereof.
No member, officer, agent or employee of the Cityshall incur any liability in acting or proceeding,
or in not acting or proceeding, in good faith in accordance with the terms of this Ordinance.
Section 16.Ordinance to Constitute Contract. In consideration of the purchase and
acceptance of any Warrant authorized to be issued hereunder by the owner of the Warrant, this
Ordinance shall be deemed to be and shall constitute a contract between the Cityand such owner,
and the covenants and agreements set forth in this Ordinance to be performed on behalf of the City
shall be for the equal benefit, protection and security of the owner of the Warrant.
Section 17.Publication and Effective Date. After its passage and adoption, a
summary of this Ordinance, substantially in the form attached hereto as Exhibit A, shall be
published once in the official newspaper of the City, under the provisions of the Idaho Code, and
upon such publication shall be in full force and effect. Upon personal request, the City Clerk shall
promptly provide the full text of thisOrdinance to any citizen.
\[the following page is the signature page\]
ORDINANCE NO. 618Page 7
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47773.0005.11607181.1
PASSEDat a specialmeeting of the City Councilofthe City of Ammon, Bonneville
County, Idaho, held on the 24thday of January,2019.
CITY OF AMMON,BONNEVILLE
COUNTY, IDAHO,acting on behalf of Fiber
Optic Local Improvement District No. 3for
Ammon, Idaho
By:_____________
Sean Coletti, Mayor
ATTEST:
Rachael Sanders, City Clerk
ORDINANCE NO. 618Page 8
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47773.0005.11607181.1
I, the undersigned, City Clerk of the City of Ammon,Bonneville County, Idaho, hereby
certify that the foregoingOrdinance No.618is a full, true, and correct copy of an Ordinance duly
adopted at a specialmeeting of the
meeting wasduly and regularly heldat the regular meeting place of the City CouncilonJanuary
24,2019;all members of the City Councilhad due notice thereof; a majorityof the memberswere
present; and that at said meeting said Ordinance was adopted by the following vote:
Councilmembersvoting Yes:
Councilmembersvoting No:
Councilmembersabstaining:
Councilmembersabsent:
I further certify that I have carefully compared the same with the original OrdinanceNo.
618on file and of record in my office; that said Ordinance is a full, true, and correct copy of the
original Ordinance adopted at said meeting; and that said Ordinance has not been amended,
modified, or rescinded since the date of its adoption, and is now in full force and effect.
I have set my hand on January 24,2019.
CITY OF AMMON,
BONNEVILLE COUNTY, IDAHO
__________________________________________
Rachael Sanders, City Clerk
ORDINANCE NO. 618Page 9
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47773.0005.11607181.1
EXHIBIT B
CITY OF AMMON
BONNEVILLE COUNTY, IDAHO
SUMMARY OF ORDINANCE NO. 618
FIBER OPTIC LOCAL IMPROVEMENT DISTRICT NO. 3
WARRANT, 2019
AN ORDINANCE OF THE CITY OF AMMON,BONNEVILLE COUNTY,
IDAHO, PROVIDING FOR THE ISSUANCE AND SALE OF A WARRANT
FOR THE PURPOSE OF PROVIDING INTERIM FINANCING FOR CERTAIN
FIBER OPTIC SYSTEM IMPROVEMENTS AND RELATED
APPURTENANCES WITHINFIBER OPTIC LOCAL IMPROVEMENT
DISTRICT NO. 3FOR AMMON, IDAHO IN THEAGGREGATE PRINCIPAL
AMOUNT OF NOT TO EXCEED $1,500,000; PROVIDING THE FORM,
TERMS AND MATURITY OF THE WARRANT;ANDAPPROVING THE
SALE OF THE WARRANT
Section1.Definitions:Defines certain capitalized terms used in the Ordinance.
Section 2.Authorization of Warrant:Authorizes the City of Ammon, Bonneville
County, Idaho, acting on behalf of the Fiber Optic Local Improvement District No. 3for Ammon,
Fiber Optic Local Improvement District No. 3for Ammon,
Idaho Warrant, 2019in the aggregate principal amount of not to exceed $1,500,000(the
Warrant) to provide interim financing for the costs of design, acquisition, construction and
installation of certain fiber optic system improvements and related appurtenances (collectively, the
Improvements,andprovides details regarding the maturityand interest ratethereof.
Section 3.Prior Redemption: Provides details regarding redemption of the Warrant prior
to its scheduled maturity.
Section 4.Registration: Appoints the Treasurerof the Cityto act as Warrant Registrar
and describes the responsibility of Warrant Registrar for making payments on the Warrant.
Section 5.Repayment Fund-Security and Sources of Payment of the Warrant:
Authorizes Treasurerto establish theLID No. 3Warrant Repayment Fund,which fund
shall be used to pay principal of and interest on the Warrant and any refunding warrant.
Section 6.Execution and Delivery of the Warrant: Authorizes procedures for
execution, authentication and delivery of the Warrant.
Section 7.Sale of the Warrant and Authorization of CityOfficials:Authorizes the
sale of the Warrant to theCity of Ammon, Bonneville County, Idaho, acting in its capacity as
purchaser thereof, and authorizes the execution and delivery of the Warrant by Cityofficials.
Section 8.Disposition of Drawings Under the Warrant:Authorizes the application of
the Warrant proceeds to pay costs of the Improvements.
Section 9.Lost, Destroyed or Mutilated Warrant:Makes provision in case anyWarrant
islost, stolen or destroyed.
Section 10.Representations and Warranties:Provides that the Cityhas the authority
to pass the Ordinance; sell, issue and deliver the Warrant; and consummate all other provisions
contained in the Ordinance.
Section 11.Punctual Payment of Warrant: Provides for the payment of the Warrant.
Section 12.Form of Warrant and Certificate of Authentication:Describes the forms
of the Warrantand Certificate of Authentication thereon.
SUMMARY OF ORDINANCE NO. 618 -1
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47773.0005.11607181.1
Section 13.General Authorization:Authorizes officials of Cityto perform acts
consistent with the Ordinance.
Section 14.Effect of Partial Invalidity:Provides that other covenants and agreements
in the Ordinance are not affected if one is made invalid.
Section 15.Effect of Covenants:Provides that there isno personal liability to a member,
officer, agent or employee of the Cityas to the Ordnance and/or Warrant.
Section 16.Ordinance to Constitute Contract:Provides for a contract between City
and theowner of the Warrant.
Section 17.Effective Date:Provides that the Ordinance shall take effect from and after
its passage and publication of this summary, as required by law.
Exhibit A: Sets forth the substantial form of this Summary for publication.
The full text of the Ordinance is available at the office of the City Clerk and will be
provided to any citizen upon personal request during normal business hours.
APPROVEDthis24thday of January,2019.
CITY OF AMMON, BONNEVILLE
COUNTY, IDAHO,acting on behalf of
Fiber Optic Local Improvement District No.
3for Ammon, Idaho
By:
_________________________________
Sean Coletti, Mayor
ATTEST:
Rachael Sanders, City Clerk
SUMMARY OF ORDINANCE NO. 618 -2
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47773.0005.11607181.1
CERTIFICATION OF COUNSEL
I, the undersigned, the legal advisor to the City of Ammon, Bonneville County, Idaho (the
, hereby certify that I have read the attached Summary of Interim Fiber Optic LID Warrant
Ordinance No. 618of the City, and that the same is true and complete and provides adequate notice
to the public of the contents of said Ordinance.
Dated as of this 24thday of January,2019.
By:
Scott Hall
CERTIFICATION OF ORDINANCE NO. 618
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47773.0005.11607181.1
ORDINANCE NO. 618 AND SUMMARY
FIBER OPTIC LOCAL IMPROVEMENT DISTRICT NO. 3
WARRANT, 2019
AN ORDINANCE OF THE CITY OF AMMON,BONNEVILLE COUNTY, IDAHO,
PROVIDING FOR THE ISSUANCE AND SALE OF A WARRANT FOR THE
PURPOSE OF PROVIDING INTERIM FINANCING FOR CERTAIN FIBER OPTIC
SYSTEM IMPROVEMENTS AND RELATED APPURTENANCES WITHINFIBER
OPTIC LOCAL IMPROVEMENT DISTRICT NO. 3 FOR AMMON, IDAHO IN THE
AGGREGATE PRINCIPAL AMOUNT OF NOT TO EXCEED $1,500,000;
PROVIDING THE FORM, TERMS AND MATURITY OF THE WARRANT;AND
APPROVING THE SALE OF THE WARRANT.
I move that the City Council dispense with the rule requiring the reading of the ordinance
on three different days and that the three readings be waived.
ORDINANCE NO. 618 AND SUMMARY
FIBER OPTIC LOCAL IMPROVEMENT DISTRICT NO. 3
WARRANT, 2019
AN ORDINANCE OF THE CITY OF AMMON,BONNEVILLE COUNTY, IDAHO,
PROVIDING FOR THE ISSUANCE AND SALE OF A WARRANT FOR THE
PURPOSE OF PROVIDING INTERIM FINANCING FOR CERTAIN FIBER OPTIC
SYSTEM IMPROVEMENTS AND RELATED APPURTENANCES WITHINFIBER
OPTIC LOCAL IMPROVEMENT DISTRICT NO. 3 FOR AMMON, IDAHO IN THE
AGGREGATE PRINCIPAL AMOUNT OF NOT TO EXCEED $1,500,000;
PROVIDING THE FORM, TERMS AND MATURITY OF THE WARRANT;AND
APPROVING THE SALE OF THE WARRANT.
I move the adoption of Ordinance 616 and Summary as an ordinance of the City of
Ammon on its third and final reading.
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OWNER'S CERTIFICATE
BOUNDARY DESCRIPTION
KNOW ALL MEN BY THESE PRESENTS: GODFREY FAMILY PROPERTY TRUST, AN IDAHO
TRUST, ARE OWNERS OF THE TRACT OF LAND INCLUDED WITHIN THE BOUNDARY
PART OF THE SW 1/4 OF SE 1/4 OF SECTION 27, TOWNSHIP 2 NORTH RANGE 38 E.B.M.,
DESCRIPTION SHOWN HEREON AND WE, THE UNDERSIGNED CO-TRUSTEES OF AND ON
BONNEVILLE COUNTY, IDAHO DESCRIBED AS:
BEHALF OF SAID TRUST, HAVE CAUSED THE SAME TO BE PLATTED AND DIVIDED INTO
BLOCKS, LOTS, AND STREETS, TO BE HEREAFTER KNOWN AS GODFREY'S SUBDIVISION, AN
ADDITION TO THE CITY OF AMMON, BONNEVILLE COUNTY, IDAHO AND WE DO HEREBY
DEDICATE TO THE PUBLIC, ALL STREETS AND RIGHT-OF-WAYS SHOWN THEREON. THE
UNDERSIGNED FURTHER PERPETUALLY GRANT AND CONVEY TO THE CITY OF AMMON,
IDAHO, THE PUBLIC UTILITY EASEMENTS SHOWN ON SUCH PLAT. WE ALSO CERTIFY THAT
THE LOTS SHOWN ON THIS PLAT ARE ELIGIBLE TO RECEIVE WATER FROM THE CITY OF
AMMON MUNICIPAL WATER SYSTEM AND SAID CITY HAS AGREED IN WRITING TO SERVE
IRRIGATION WATER RIGHTS
SAID LOTS.
28.62 FEET TO THE NORTHERLY RIGHT OF WAY OF SUNNYSIDE ROAD; THENCE
THIS PROPERTY REMAINS IN THE PROGRESSIVE IRRIGATION DISTRICT
IN WITNESS WHEREOF, WE HAVE HEREUNTO SET OUR HANDS THIS ___ DAY OF __________,
AND TO SATISFY THE REQUIREMENTS OF IDAHO CODE SECTION 31-3805,
20__.
PARCEL CONTAINS 1.127 ACRES, MORE OR LESS AND IS SUBJECT TO ALL EASEMENTS OF
SUBSECTION (1)(B). A SIGNED WATER USE AND ASSESSMENT AGREEMENT
RECORD.
THE GODFREY FAMILY TRUST
BETWEEN THE CITY OF AMMON, IDAHO, THE DEVELOPER, AND THE
BY: _____________________________ BY:___________________________
IRRIGATION DISTRICT IS PENDING.
GARY B. GODFREY D. KENT. GODFREY
RECORDER'S CERTIFICATE CO-TRUSTEE - THE GODFREY FAMILY TRUST CO-TRUSTEE - THE GODFREY FAMILY TRUST
FLOOD PLAIN DESIGNATION
I HEREBY CERTIFY THAT THE FOREGOING PLAT OF GODFREY'S SUBDIVISION,
ACKNOWLEDGEMENT
ZONE X PER PANEL NUMBER 1600270235 D PANEL 235 OF 600
WAS FILED IN THE OFFICE OF THE RECORDER OF BONNEVILLE COUNTY,
WITH AN EFFECTIVE DATE OF APRIL 2, 2002
IDAHO ON THE ______DAY OF___________, 201___ AT ___________ AND
STATE OF _________________)
RECORDED AS INSTRUMENT NO.___________________.
:SS.
COUNTY OF _______________)
ON THIS _______DAY OF ____________, 20___, BEFORE ME THE
____________________________________________________
UNDERSIGNED, A NOTARY PUBLIC IN AND FOR SAID STATE,
BONNEVILLE COUNTY RECORDER
PERSONALLY APPEARED GARY B. GODFREY KNOWN OR IDENTIFIED TO
ME, TO BE A CO-TRUSTEE OF THE GODFREY FAMILY PROPERTY TRUST,
AN IDAHO TRUST, AND THE PERSON WHO SUBSCRIBED SAID TRUSTS
NAME TO THE FOREGOING OWNER'S DEDICATION AND THE DRINKING
LOT 4
WATER CERTIFICATE AND ACKNOWLEDGED TO ME THAT HE EXECUTED
0.286 ACRES
THE SAME IN SAID LIMITED LIABILITY CORPORATION'S NAME AND AS A
PERSON AUTHORIZED TO BIND SUCH TRUST.
IN WITNESS WHEREOF, I HAVE HEREUNTO SET MY HAND AND AFFIXED
MY OFFICIAL SEAL THE DAY AND THE YEAR IN THIS CERTIFICATE FIRST
TREASURER'S CERTIFICATE
ABOVE WRITTEN.
I, THE UNDERSIGNED COUNTY TREASURER IN AND FOR THE COUNTY OF
__________________________________________
LOT 5
0.278 ACRES
50-1308, DO HEREBY CERTIFY THAT ALL COUNTY PROPERTY TAXES DUE FOR
THE PROPERTY INCLUDED IN THIS PROJECT ARE CURRENT.
NOTARY PUBLIC FOR THE STATE OF _______________
15' P.U.E.
RESIDING AT: _____________________________
_______________________________ ____________________________
COMMISSION EXPIRATION DATE: ________________
BONNEVILLE COUNTY TREASURER DATE
DRAWN BYDESIGN BYCHECK BY
TDHLECMJ
ACKNOWLEDGEMENT
JOB NO:
2018-668
LOT 6
STATE OF _________________)
0.282 ACRES DATE:
November 16, 2018
CITY ACCEPTANCE
:SS.
REVISIONSDATE
COUNTY OF _______________)
THE FORGOING PLAT WAS DULY ACCEPTED AND APPROVED BY THE
CITY OF AMMON, IDAHO BY RESOLUTION ADOPTED THIS_____DAY
ON THIS _______DAY OF ____________, 20___, BEFORE ME THE
OF______________, 201_.
UNDERSIGNED, A NOTARY PUBLIC IN AND FOR SAID STATE,
5.78'
PERSONALLY APPEARED D. KENT GODFREY KNOWN OR IDENTIFIED TO
__________________________________________________
ME, TO BE C0-TRUSTEE OF THE GODFREY FAMILY PROPERTY TRUST,
7.55'
MAYOR CITY CLERK
AN IDAHO TRUST, AND THE PERSON WHO SUBSCRIBED TRUSTS NAME
TO THE FOREGOING OWNER'S DEDICATION AND THE DRINKING WATER
_________________________
CERTIFICATE AND ACKNOWLEDGED TO ME THAT HE EXECUTED THE
CITY ENGINEER
SAME IN SAID LIMITED LIABILITY CORPORATION'S NAME AND AS A
LOT 7
PERSON AUTHORIZED TO BIND SUCH TRUST.
0.281 ACRES
IN WITNESS WHEREOF, I HAVE HEREUNTO SET MY HAND AND AFFIXED
COUNTY APPROVAL
MY OFFICIAL SEAL THE DAY AND THE YEAR IN THIS CERTIFICATE FIRST
ABOVE WRITTEN.
THE FOREGOING PLAT WAS DULY ACCEPTED AND APPROVED BY THE
X
28.62'
__________________________________________
BOARD OF COUNTY COMMISSIONERS OF BONNEVILLE COUNTY, IDAHO,
NOTARY PUBLIC FOR THE STATE OF _______________
BY RESOLUTION ADOPTED THIS _____ DAY OF ________________ , 201____.
28.61' (R)
____________________________________ __________________________RESIDING AT: _____________________________
CHAIRMAN, BOARD OF COMMISSIONERS PUBLIC WORKS DEPARTMENT
COMMISSION EXPIRATION DATE: ________________
EXAMINING SURVEYOR'S CERTIFICATE
DRINKING WATER SYSTEM CERTIFICATE
I HEREBY CERTIFY THAT I HAVE EXAMINED THIS PLAT AND FIND IT TO BE
CORRECT AND ACCEPTABLE AS REQUIRED WITH SECTION 50-1305 OF
THE IDAHO CODE.
ON THIS PLAT ARE ELIGIBLE TO RECEIVE WATER FROM THE CITY OF AMMON MUNICIPAL
DATE:_____________
WATER SYSTEM, AND SAID CITY HAS AGREED IN WRITING TO PROVIDE CULINARY WATER
SERVICE TO SAID LOTS.
_____________________________________________________________
BONNEVILLE COUNTY SURVEYOR, STEVE ROUNDS P.L.S. NO. 12640
IN WITNESS WHEREOF, I HAVE HEREUNTO SET MY SIGNATURE THIS ________DAY OF
____________, 201__.
___________________________________ ___________________________________
SURVEYOR'S CERTIFICATE
GARY B. GODFREY - CO-TRUSTEE D. KENT. GODFREY - CO-TRUSTEE
THE GODFREY FAMILY PROPERTY TRUST THE GODFREY FAMILY PROPERTY TRUST
I, CLINT M. JOLLEY, A REGISTERED PROFESSIONAL LAND
SHEET NO.
SURVEYOR IN THE STATE OF IDAHO DO HEREBY CERTIFY THAT
THE SURVEY OF THIS SUBDIVISION, DESIGNATED AS GODFREY,
1
SUBDIVISION, WAS MADE UNDER MY DIRECTION, AND THAT SAID
SUBDIVISION IS TRULY AND CORRECTLY STAKED AS PROVIDED
BY LAW AND IN ACCORDANCE WITH THE ACCOMPANYING PLAT
AS DESCRIBED HEREON.
1
P.L.S. 15571________________________________________OFSHEETS
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