Sewer Bond Information
There are several downloads below, including a SAMPLE Ballot. The election will be held on May 20, 2014 at New Meadows City Hall, 401 Virginia Avenue between the hours of 8am and 8pm. Voters can register at the polls with photo identification and proof of residency. Please understand that only registered voters can vote on this particular ballot.
CITY OF NEW MEADOWS
Adams County, Idaho
SPECIAL BOND ELECTION
MAY 20, 2014
SHALL THE CITY OF NEW MEADOWS BE AUTHORIZED TO INCUR AN INDEBTEDNESS AND TO ISSUE AND SELL ITS REVENUE BONDS IN A PRINCIPAL AMOUNT NOT TO EXCEED $1,000,000 TO PAY A PORTION OF THE COSTS OF ACQUIRING AND CONSTRUCTING IMPROVEMENTS AND BETTERMENTS TO THE SANITARY SEWER SYSTEM OF THE CITY, THE BONDS TO MATURE OVER A PERIOD WHICH MAY BE LESS THAN BUT WHICH SHALL NOT EXCEED FORTY (40) YEARS AND TO BE PAYABLE SOLELY FROM THE REVENUES OF THE SANITARY SEWER SYSTEM OF THE CITY, ALL AS MORE FULLY PROVIDED IN ORDINANCE NO. 334-2014, ADOPTED ON MARCH 10, 2014.
IN FAVOR OF issuing revenue bonds for the
purposes provided by Ordinance No. 334-2014 .. . . . . . . . . . . . . . [
AGAINST the issuance of revenue bonds for the
purposes provided by Ordinance No. 334-2014 . . . . . . . . . . .. . [
The following information is required by Section 34‑439, Idaho Code:
The purpose for which the proceeds of the bonds will be used is to build a storage lagoon for effluent to be sorted until applied to nearby arable land and related improvements to the wastewater treatment facilities of the city. The anticipated interest rate on the proposed bonds is 3.0% per annum. The range of anticipated rates is from 1.0% to 4.5% per annum. The total proposed principal amount to be repaid over the 40-year life of the bonds is $1,000,000; the total interest anticipated to be paid over the life of the bonds, based on the anticipated interest rate, is $723,866; the total amount to be repaid over the life of the bonds is $1,723,866. The City has existing bonded indebtedness, including interest accrued to the date of election, of $544,163, which is payable from the net revenues of the water and sewer system of the City.