Ordinance 650 - Creates SID Revolving Fund101
ORDINANCE NO. 650
AN ORDINANCE CREATING AND ESTABLISHING A SPECIAL IMPROVEMENT DISTRICT REVOLVING
FUND FOR THE PURPOSE, AND IN ORDER TO SECURE PROMPT PAYMENT OF SPECIAL IMPROVEMENT
DISTRICT BONDS AND WARRANTS AND THE INTEREST THEREON AND TO PURCHASE PROPERTY AT
SALES FOR DELINQUENT TAXES AGAINST WHICH THERE MAY BE ANY UNPAID ASSESSMENTS FOR
SPECIAL IMPROVEIMT ON ACCOUNT WHEREOF THERE ARE OUTSTANDING SPECIAL IMPROVEMENT
DISTRICT BONDS OR WARRANTS, AND LEVYING AND ASSESSING A TAX OF ONE MILL ON THE
TAXABLE PROPERTY IN THE CITY OF KALISPELL, MONTANA, FOR THE NEXT FISCAL YEAR TO
MEET THE FINANCIAL REQUIREMENTS OF SUCH FUND.
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF KALISPELL, MONTANA:
SECTION 1. That there is hereby created and established a Special Improvement
District Revolving Fund for the purpose and in order to secure prompt payment of
Special Improvement District Bonds or Warrants and the interest thereon of Special
Improvement Districts heretofore or hereafter created and for the purpose of
purchasing, property at sales for delinquent taxes or assessments or both, or
which may have been or may be struck off or sold to the County of Flathead, Montana,
for delinquent taxes or assessments or both and against which there then may be
any unpaid assessments or taxes for Special Improvements on account whereof there
are outstanding Special Improvement District Bonds or warrants, whenever there is
an amount in excess of the amount which the Council deems necessary for the payment
of redemption of such maturing bonds or warrants or interest thereon.
SECTION 2., That there is hereby levied and assessed on the taxable property in
the City of Kalispell, Montana, for the next fiscal year, a tax of one mill on each
dollar of the assessed valuation of the property in said City of Kalispell, Montana,
for the purpose of paying such Special Improvement District Bonds and warrants and
the interest thereon, and of purchasing property at sales for delinquent taxes or
assessments or both, or which may have been or may be struck off or sold to the
County of Flathead, Montana, for delinquent taxes or assessments or both and against
which there then may be any unpaid assessments or taxes for Special Improvements
on account whereof there are outstanding Special Improvement District Bonds or
warrants, when such excess exists.
SECTION 3- That said levy of one mill provided for in Section 2 of this Ordinance
shall be made in addition to the general levy to be made by resolution of the
Council of said City, for the next fiscal year.
SECTION 4., That the City Clerk shall certify a copy of this Ordinance to the
County Clerk of Flathead County, Montana, in the same manner that the resolution
providing for the annual tax levy is certified, and a tax herein provided for
shall be.collected in the same manner as the taxes provided for in said annual
levy.
SECTION 5. That this Ordinance shall be in full force and effect from and after
its passage and approval.
PASSED BY THE COUNCIL OF THE CITY OF KALISPELL, MONTANA, AND APPROVED BY THE
MAYOR THIS NTH DAY OF JUNE, 1956.
Claude Walter
Mayor
ATTEST H. J. Hunt
City Clerk
I, H. J. Hunt, City Clerk of the City of Kalispell, Montana, do hereby certify
that on the 5th day of June, 1956, I posted a copy of the foregoing ordinance
in my office and the same remained posted for a period of five days and the fore-
going is a true and correct copy of the ordinance as passed by the City Council.
City Clerk of the City ofKalispell, Montana