CITY OF HOPE
Bonner County, Idaho
NOTICE OF SPECIAL BOND ELECTION
NOTICE IS HEREBY GIVEN that pursuant to Ordinance No. 254 of the City of Hope, of Bonner County, Idaho, adopted on March 28 2007, a Special Bond Election will be held in said City on
TUESDAY, MAY 22, 2007
between the hours of 12:00 o'clock Noon and 8:00 o'clock P.M., for the purpose of voting upon the question and proposition of issuing water revenue bonds in the principal amount of not to exceed $425,000 for the purpose of providing funds to pay part of the costs of the acquisition and construction of improvements to the water system of the City, pursuant to the provisions of said Ordinance, which Ordinance is hereby referred to for further particulars, and which by reference is made a part of this Notice.
The total estimated cost of the Project is approximately $568,000, of which $425,000 (or approximately 75%) is to be paid from the sale of the proposed water revenue bond issue.
The question to be submitted to the electors shall be by ballot reading substantially as follows:
SHALL THE CITY OF HOPE ISSUE AND SELL ITS WATER REVENUE BONDS TO PAY PART OF THE COSTS OF THE ACQUISITION AND CONSTRUCTION OF IMPROVEMENTS TO THE CITY'S WATER SYSTEM IN THE PRINCIPAL AMOUNT OF NOT TO EXCEED $425,000? SAID BONDS SHALL MATURE OVER A PERIOD OF NOT TO EXCEED THIRTY (30) YEARS, AND SHALL BE PAYABLE SOLELY FROM THE REVENUES OF THE WATER SYSTEM, ALL AS MORE FULLY PROVIDED IN ORDINANCE NO. 254, ADOPTED ON MARCH 28, 2007.
IN FAVOR OF issuing Water
Revenue Bonds for the purposes provided by
Ordinance No. 254 p
AGAINST issuing Water
Revenue Bonds for the purposes provided by
Ordinance No. 254 p
INSTRUCTIONS TO VOTERS: To vote on the foregoing proposition, make a cross (X) in the space to the right of the words "IN FAVOR OF issuing water revenue bonds for the purposes provided by Ordinance No. 254" or "AGAINST issuing water revenue Bonds for the purposes provided by Ordinance No. 254" according to the way you desire to vote on the question. If you, by mistake or accident, mark, tear, deface, or otherwise mutilate this ballot, return it to the election Judge and obtain another ballot.
The following information is required by section 34-440, Idaho Code.
The existing water revenue bond indebtedness of the City is $-0. The interest rate anticipated on the proposed water revenue bonds is 4.50%. The range of anticipated interest rates is from 4.00% to 6.50%. The total amount to be repaid over the life of the proposed water revenue bonds, principal and interest, based on the anticipated interest rate, is estimated to be $782,742.17.
Qualified electors shall vote at the following polling place or places, as designated by the City Clerk.
Hope City Hall
146 West Main Street
Hope, Idaho
Only qualified electors eighteen (18) years of age or older, who are United States citizens and who have resided in the State of Idaho and in the City at least thirty (30) days next preceding the election, and no others, will be permitted to vote at said special election. Persons may register on or before May 22, 2007, at any time during the office hours of the City Clerk or other appropriate official with authority to register voters. Persons may also register to vote on the day of election at their polling place with proper voter identification, one piece of identification must include a picture of the voter and other documentation with the voter's current residential address within the precinct boundaries and some proof of residency for at least thirty (30) days prior to the date of the election (e.g., utility bill residential lease, etc.). No person so qualified and offering himself or herself at the polling place at which he or she is entitled to vote will be denied the privilege of voting at said special election.
Any registered elector of the City may make written application for an absentee ballot to the City Clerk who is conducting the election for the City not later than May 21, 2007, on the day prior to the election.
Polls will be open at the hour of 12:00 o'clock Noon on Tuesday, May 22, 2007, and will be open continuously until the hour of 8:00 o'clock P.M. of the same day, at which time the polls will be closed. Voting at said election shall be by ballot, and the ballot to be supplied the voters for their use at said election shall be in the form provided by law.
If, at said election, the majority of the qualified electors voting at such election assent to the issuance of said water revenue bonds for the purposes set forth in Ordinance No. 254, the water revenue bonds of the City of Hope will be issued for said purposes, which bonds, or so much thereof as may be necessary, will mature over a period of not to exceed thirty (30) years, and will bear interest at a rate or rates to be prescribed by the ordinance authorizing the issuance of the water revenue bonds. The principal of and interest on said bonds shall be payable solely out of and derived from rates and charges for the use of and the services rendered by, and all other income, earnings and revenues of, the water system of City of Hope, all as more particularly set forth in an Ordinance to be hereafter passed and approved by the City.
DATED this 28th day of March, 2007.
CITY OF HOPE,
Bonner County, Idaho
ATTEST:
Shirley Ramey
City Clerk
(SEAL)
Legal SNP# 8555
April 4, 11, 18, 2007