SUMMARY OF ORDINANCE NO. 1169

ORDINANCE OF THE CITY OF SANDPOINT, BONNER COUNTY, IDAHO; CREATING LOCAL IMPROVEMENT DISTRICT NO. 2007-1; DESCRIBING AND SETTING THE BOUNDARIES OF SAID DISTRICT; PROVIDING FOR THE IMPROVEMENTS TO BE MADE THEREIN; APPOINTING AN ENGINEER TO PREPARE THE NECESSARY PLANS AND SPECIFICATIONS FOR THE WORK; AUTHORIZING THE ADVERTISING FOR BIDS FOR SAID WORK AS PROVIDED BY LAW; PROVIDING FOR THE PAYMENT OF COSTS AND EXPENSES OF SAID IMPROVEMENTS TO BE ASSESSED AGAINST THE PROPERTY WITHIN THE DISTRICT BENEFITED THEREBY AND THE METHOD OF ASSESSMENT; PROVIDING FOR THE ISSUANCE OF LOCAL IMPROVEMENT DISTRICT BONDS AND WARRANTS; PROVIDING FOR THE PUBLICATION OF THIS ORDINANCE; AND PROVIDING FOR OTHER MATTERS PROPERLY RELATING THERETO. The Ordinance creates City of Sandpoint Local Improvement District 2007-1. Section 1 declares that LID No. 2007-1 will be in the best interests of the property affected and of the City, that there is a reasonable probability that the obligations will be paid and that the value of the property subject to special assessment exceeds the sum of the estimated costs to be assessed against such property. Section 2 declares that the Council has heard, considered and passed upon all written protests. Section 3 declares the creation of LID No. 2007-1, the boundaries of which are described in Exhibit "A" of the Ordinance as the North 239 feet of the East half of Block 15, Ohadi Acres, Section 21, Township 57N, Range 2W, Boise Meridian, Bonner County, Idaho. Section 4 describes the improvements to be made within LID No. 2007-1 and provides for the advertisement of bids. Section 5 provides that the estimated costs and expenses of the Project shall be assessed on a front foot method of assessment. Section 6 declares that the estimated total cost of the Project is Sixty-Five Thousand Dollars and no 00/100 ($65,000.00), all of which will be paid for by a levy of assessments against the abutting, adjoining and adjacent lots, parcels and lands along or upon which such improvements are to be made which are specially benefited by such improvements. Section 7 provides that the costs of the Project include the contract price of the Project, plus engineering and clerical services, advertising, costs of inspection, costs of collecting assessments, interest on any warrants issued, legal services and the costs of acquiring land, if necessary. Section 8 finds that the apportionment of costs is equitable and specially benefits each parcel. Section 9 provides that the Council appoints Tucker, Brown, and Vermeer as the engineers for the Project. Section 10 authorizes the City to issue bonds and warrants for the purpose of making payments for the improvements and requires said bonds and warrants to be retired by the proceeds of the assessments. Section 11 incorporates all matters and things done regarding the creation of LID No. 2007-1 into the Ordinance. Section 12 provides that this Ordinance shall take effect upon its passage, approval and publication. Section 13 provides for suspension of the rules and immediate passage of the Ordinance.

The full text of Ordinance No. 1169 is available during normal business hours of the City at the City Hall of the City of Sandpoint, 1123 Lake Street, Sandpoint, Idaho. The City Clerk shall provide a full copy of the Ordinance to any citizen so requesting.

The Mayor and City Council approved the foregoing summary for publication pursuant to Idaho Code Section 50-901(A) this 18th day of April, 2007.

Raymond P. Miller, Mayor

ATTEST:

Maree Peck, City Clerk

Legal SNP# 8625

April 25, 2007