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80 of 1979 - Levying a tax for the assessment of property in North Point Special Improvement District, Water Main ORDINANCE NO. 80 AN ORDINANCE confirming the assessment rolls and levying a tax providing for the assessment of property in the Salt Lake City, Salt Lake County, North Point Special Improvement District, Watermain Extension 35-4012 for the purpose of paying the cost of constructing a watermain to provide a supplemental water supply to the properties within the said district to be assessed, and other miscellaneous work necessary to complete said improvements in the proper and workmanlike manner; providing for the addition to the Salt Lake City Special Improvement Guaranty fund; and establishing the effective date of this ordinance. BE IT ORDAINED BY THE CITY COMMISSION OF SALT LAKE CITY, SALT LAKE COUNTY, UTAH; Section 1. The City Commission of Salt Lake City, Utah, hereby confirms the assessment rolls for Salt Lake City, Salt Lake County, North Point Special Improvement District, Watermain Extension 35-4012 (the "Improvement District") and hereby finds that the assessments are just and equitable; that each piece of property within the Improvement District will be benefitted in an amount not less than the assessment to be levied against said property; and that no piece of property listed on the assessment rolls will bear more than its proportionate share of the cost of such improvements. Section 2. The City Commission of Salt Lake City, Utah, does hereby levy a tax to be assessed upon the real property described in the assessment rolls for the Improvement District. The assessments shall be levied upon an area basis in the amounts set forth in the assessment rolls, a copy of which is hereby incorporated by reference and made a part of this ordinance. The property being assessed is within the boundaries of the Improvement District all as is more particularly described in the Notice of Intention adopted by the City Commission on the 22nd day of March, 1979 and subsequently amended on the 10th day of April, 1979. Said description is incorporated herein by this reference. -3- 80 The assessments hereby levied are for the purpose of paying the cost of constructing a watermain consisting of approximately 7,360 feet of 36-inch water pipe, 26,840 feet of 24-inch water pipe, and 7,512 feet of 20-inch water pipe together with valves, other appurtenances, and other miscellaneous work necessary to complete the improvements in a property and workmanlike manner. Said assessments are hereby levied and assessed upon each of the parcels of real property described in the assessment rolls. The assessments are levied to the extent the properties being assessed are especially benefitted by the improvements to be constructed within the Improvement District. Said assessments are levied at equal and uniform rates. The total cost of the improvements in the Improvement District is $2,224,821.33 including a ten percent (10%) allowance for contingencies and a fifteen percent (15%) allowance for administrative costs. The amount which is hereby assessed is $2,224,821.33 which total amount of assessment does not exceed in the aggregate the sum of (a) the total contract price for the improvements under contract duly let to the lowest and best responsible bidder therefor; (b) the reasonable cost of utility services, maintenance, labor, materials, or equipment, if any; (c) the property price, if any; (d) overhead costs not to exceed fifteen percent (15%) of the sum of (a), (b), and (c); (e) a contingency factor not to exceed ten percent (10%) of the sum of a (a), (b) and (c). The total assessment for the Improvement District is levied at the rate of $1,273.45 per acre. Section 3. The assessment rolls prepared by the City Treasurer are hereby confirmed, ratified and approved. The -4- MJ tax based upon the assessment rolls is levied and assessed at equal and uniform rates with the full depth of each parcel of real property to be assessed within the Improvement District. Section 4. The whole or any part of the assessments for said Special Improvement District may be paid without interest within fifteen (15) days after this ordinance becomes effective. Any part of the assessment not paid within such fifteen (15) days priod shall be payable over a period not to exceed ten (10) years from the effective date of this Ordinance in ten (10) substantially equal annual installments with interest on the unpaid balance of the assessment at the rate of nine percent (9%) per annum from the effective date of this ordinance until due. At such time as bonds are issued for the Improvement District in an amount not in excess of the aggregate total of unpaid assessment balances, the interest rate at which interest will accrue on the unpaid balance of the assessment shall be modified to equal the average interest per annum of said bonds. Interest shall be paid in addition to the amount of each such installment annually at the time each installment becomes due. After said fifteen (15) day period, all unpaid installments of an assessment levied against any piece of property (but only in their entirety) may be paid prior to the dates on which they become due, but any such prepayment must include an additional amount equal to the interest which would accrue on the assessment to the next succeeding date on which interest is payable on any special improvement bonds issued in anticipation of the collection of the assessments plus such additional amount as, in the opinion of the City Treasurer, is necessary to assure the availability of money to pay interest on the special improvement bonds as interest becomes due and any premiums which may become payable on redeemable -5- 80 bonds which may be called in order to utilize the assessments thus paid in advance. Included in the costs of improvements for which assessment is hereby made is an estimated amount for contingent expenses equaling ten percent (10%) of the construction costs as established by a unit price contract for construction of the improvements and facilities within the Improvement District as set out in the Notice of Intention. Upon completion and acceptance of the improvements within this Improvement District the costs of construction will be determined plus an additional amount for engineering, legal, accounting, and other administrative expenses totalling fifteen percent (15%) of the construction costs. If the aggregate total of all construction costs plus administrative expenses is less than the total amount of the assessments made hereunder, the surplus will be rebated proportionately on a per acre basis to the owners of the property assessed. The rebate will be applied as a credit against the unpaid amount of the assessment installment next due after the time the surplus is determined. Default in the payment of any installment of principal or interest when due shall cause the whole of the unpaid principal and interest to become due and payable immediately, and the whole amount of the unpaid principal shall thereafter draw interest at the rate of ten percent (10%) per annum until paid, but at any time prior to the date of sale or foreclosure the owner may pay the amount of all unpaid installments past due, with interest at the rate of ten percent (10%) per annum to date of payment on the delinquent installments, and all approved costs, and shall thereupon be restored to the right thereafter to pay in installments in the same manner as if default had not occurred. -6- 80 Section 5. The City Commission of Salt Lake City, Utah, hereby supplements the special improvement guaranty fund of Salt Lake City and shall at the time of each annual appropriation ordinance, so long as any special improvement district bonds of Salt Lake City including the bonds of this Improvement District remain oustanding, provide for the levying of a tax of up to one mill in each year for the purpose of maintaining in said fund a balance of forty percent (40%) of the total principal amount of all special improvement district bonds then issued and outstanding. The purpose of such fund is to guaranty to the extent of such fund the payment of special improvement bonds and interest thereon issued against local improvement districts including this Improvement District, all in the manner and to the extent provided by the laws of the State of Utah. Section 6. The officials of Salt Lake City, Utah, are hereby authorized and directed to take all action necessary and appropriate to effectuate the provision of this ordinance. Section 7. All ordinances or parts thereof in conflict with this ordinance are hereby repealed. Section 8. An emergency is hereby declared, the preservation of peace, health and safety of Salt Lake City and the inhabitants thereof so requiring. Immediately after its adoption, this ordinance shall be signed by the Mayor and City Recorder and shall be recorded in the ordinance book kept for that purpose. Said ordinance shall be published once in the Deseret News, a newspaper published and having general circulation in Salt Lake City, Utah, and shall take effect immediately upon its passage and approval and publication as required by law. -7- 80 PASSED AND APPROVED BY THE CITY COMMISSION OF SALT LAKE CITY, UTAH, this 7th day of June, 1979. //,,2L Mayor ATTEST: City Recorder (S E A L) I BILL NO. 80 of 1979 Published June 9, 1979 (Certified copy sent to Treasurer's Office 6-7-79) -8- 80 Affidavit of Publication STATE OF UTAH, ss. County of Salt Lake CC ,tii'oROINANce ge Shl-na D, Cnnc�Ly levying a tax ORDINANCE Confirming r th ssment of property rolls Salt Lake a ni3rth 2epluefvement DstrcCt,WaterminExteson 5-401 for the purpose paving th cost of cbnstr ln tIng a water to provide a'suppleental water:wooly to Me Oro.rrles within Me said district to be Being first duly sworn,deposes and says that he is legal assessed,and other miscall/moo.work necessary to wrote. said i pm entente Me props and workmanlike advertisingclerk of the DESERET NEWS, a daily icing for the addition to the Salt Lake City nSpecial providing Guaranty and establishing the effective date (except Sunday) newspaper in the English olthisordinnce P Yprintedg BE IT ORDAINED BY THE CITY eommosSIDN OF SALT LAKE CITY,SALT LAKE COUNTY,UTAH:. language with general circulation in Utah, and hereby rwnfir snrheiasse Commission' rolt of a or°half Lake City,sat published in Salt Lake City, Salt Lake County, in the Lake County, North Point Special Improvement District, hereby finds as that the as.ssments are lusand egquitalble That State of Utah. each piece of property within.the improvement District will be enefited in an amount not less than the assessment to be levied against said prooertv;and that no piece df property listed tithe That the legal notice of which a copyis attached hereto ¢t rclls wit bear more Map its proportionate share of g" the Lost 2.T n'ity Comma Section a The obe Commission of Saltr Lakelproperty nor Utah,does in the lasso me tbellss for ironthe oval,ent»Dis desrictrlThe assessments the a es r evi fur na area heement a emoun Th PLiD n0 trice of un Ordi.nFinCE CCSI'.s:E 7.x::linLJ 'trio dial{be snlevied upon e a areaheels fIn the is her set by nhin the ys sment rolls,m COP, of which Is hereby incorporated being reference sed end wit apart of ou Ordinance.of The ` tie being assessed b within Ise boundaries w the assessment rolls and levying a tax yr t tieiridallas is mot¢i rtcrtnmisslono th 22nd day of birch,19on and sus by subsequently amended Comma onith on Me y of day 1,March,old9,anc subsequent in e on their hday i s refer 1919. Sold description is incorporated herein by this releThe assessments hereby levied are for the purpose of paying the cost of constructing a watermaln consisting Of approximately 1,36P feet of 36-Inch water plea,26,040 feet of 24.inch water plea, and 1,512 feet of 20-inch water pipe together with valves,other caopmprleeena nthen Impprrovements Ineall anroperwbrdk wo kmanlike Manner.Said assessments are hereby levied and assessed upon each of the parcels of real property described In the assessment rolls. The assessments are levied to the extent the properties being assessed are especially benefited by the improvements to be constructed within the Improvement District.Said asseasment0 are lead at equal and politic rated. use 9 7 79 The total cost f the improvements In the Improvement was published in said newspaper on J v -� District is S2,224,1121.33 a tilting a ten percent(1 a3l°)allowance (or contin fine c and h famou pe hint is her allowance for S2,24,621.33,ve which pia a unl assessmentcas doe a see Is In the.aggregate which sum amount oftotal does n�for the In o stu the of c the total the ot price f the improvements ebi enderre contract duly let to he lowest of best 'I / t` fj e intent maintenance, lb (b)Me reasonable cost fautility .2 S \, I - fj ur services,property price, ce,fang materials,a costs not o if Y' 1 Q T /.r * ( J u', i ,<Cr, . p`. !1 the er ce t price,if any;ld)overhead costs not toe exceed contingency der 1 ens aI f the la),f10 )o tcl.O Legal Adventism (lezlc ao B„gnca ldac)not of ootal exceed rn t(I roe m ro d I tr+ g D(tea t is and(c) The total assessment for IM Improvement ielS District is testa at the rate of f1 ls Per acre. 1 Section 3. The assessment rolls prepared by the sty Treasurer are hereby confirmed,ratified end nd approved,The lax 1��17 basetl the assessment rolls Is levied and assessed at equal and uniform rm rates with the fug depth of each el of real "e me this day of property to be assessed within the Improvement District. Sp Section e,The whole or any part of the assessments for sold within lfifimprovement p(15)daysaker this may beos without effective. 9 An part of the assessment not paid within such fifteen(1S)days A'D'IJ79 enuariod shall be payable over a period not to exceed ten(10)years 1 the effective dale of this Ordinance in ten(la)substantially ly / equal annual installments with interest on the unpaid balance of the assessment at the rate of nine percent(9%1 per annum from the effective date of this ordinance until due At such time as '- bonds are issued for the Improvement District In an amount ref - / /r L/r L In excess of the aggregate total of unpaid assessment balances, / l J interest rat w interest will accrue on the ` C'!// titanoddment shall lee modified to equal the average J��9 l.G't� ,..<... / .....� l /.... ...... oftr annum Notary P blic feted per um of old bonds. Interest hall al It In interest Me amount of each me such IOtterl dt annually f the time each Installment becomes due.After said fifteen(ao day period,all unpaid Installments(but oni of anassessment levied against paid Jeno»S. use Lily a,niece I propene^(but Iv In their entirety) av be Paid hereby supplements the spe�°cialisrmon of Solt Lake CI1v,Utah, • prier}a one oats s ricM1n fheY became due„but h Salt Lake City and shall at flea time ul each ovemenitwaul ranty Ind of succeeding would accuderue additional amount equal fo the aft La ce,so IOncl as any special improvemnf des ohlxti:lab of interest hick would r e the sa e 1 a t're f Salt Lake City Incldl ro}he bends f}his Imerovemnl Ets,ricl date n fed Interest Is payable In onthe duth yea„ta provide ee fix levying of a lax el veto one mprovement bonds Issued In anlicipaflon of the cllection of the re sin plus such additional amount as,In the opinion of the ill in e h year for tin purpose Of mainidinlnp in said fund d City assessmentsasurer,is necessary to assure the availability of money balance of fMv percent(t0 a)of the total principal amoun101 all to pay interest on the special Improvement bonds as interest special Imaro emenl district bond then issued and oulstandirq,becomes due and any premiums which may became payable on pa°meal such fund Is l0 guarapty to Mpezfnt of sUcf fu„d redeemable bands which may be called In order to utlilxe the issued sPec'al improvement bolds grid interest Mnreo„ assessments taus paid in advance. against beat improvement districts Includlnli this Included in the costs of Imervemenls for which assessment ,,,,,,, Improvement District,all in the manner and to Me extent is hereby made is an estimated amount for contingent expenses providetl by the he o of Me Stale f Utah. equaling ten percent floe/el of the construction costs auMoized 6'd direclpdrato fakeLakl Cl/ °¢�yyd established by nil ice tract tar construction of Me appropriate la aflecfuare the Smprovomenls and tacit price within the IMprovettnnl District as provision of lies ordinance, t of In the Notice of Intention. Ups c elation and Section7.All ordinances or paatsteeoaf In conflict,Win this acceptance of the Improvements within tins Improvement ortlmance are Mrebv repealed, District the costs f construction ill be determined plus SechnB An emergency is nernby deplard them:receryMlon additional punt for engineering,legal,accounting,and other i Peace,4.,. arm safely of Salt Lake sty aria inhal9kams administrative expenses totalling fifteen cent(1%)of the there0l sp equlrirp, Immedlalety a(kar its adopibrh ft.'' construction costs.If the aggregate total of all construction cods ordinance shall be signed by the Mayor and ply Re<onkv and plus administrative expenses is less than the total amount of the all be recorded In the ordinance book kepi for their purpose.ants made hereunder, theplus will be rebated Said ordinance shall by p biisteed once In me peep et µlwy a proportionately on a per acre basis M the owners of the Properly seater published and ha„general olrcula/lon In Sal Lake assessed.The rebate will be applied as a credit against the Clty.Utah,and shall fake eliecl ImniedlalelY upon Ifs wadage paid amount of the assessment Installment next due after the and anoroval and publication as required by law. tine the surplus Is determined, PASSEp AND APPROVED BV THE CITY COMMIl,SION Default In the payment of any installment Of principal or OF SALT LAKE CITY.UTAH.Ph Is 7M day of June,19T9. ' Interest when due shall cause the whoe of the unpaid principal TED L.Wi LSON and interest to become due and payable Immediately,and the intt amount ftneret(0) ranftltit ATTEST. aayoreresateraeo e percent numunipei Cu MILDRED V.HIGHAM at any time prior to the date of sale or foreclosure the owner may City Recorder pay the amount of all unpaid installments past due,with Interest (SEAL) tI the rate of ten percent(10%)per annum to date of payment. BILL ND.80 of)979 he delinquent installments,and all approved costs,and shall Published June 9,1979 thereupon be restored to Ire right thereafter to pa In — IA-=01j ipstellm_me in te sane manner Sr right default had not occurred. i9_t)