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200705739 ORDINANCE NO. 500 AN ORDINANCE OF THE CITY OF WOOD RIVER, NEBRASKA CREATING STREET IMPROVEMENT DISTRICT NO. 2007-1; DEFINING THE BOUNDARIES AND LIMITS THEREOF; PROVIDING FOR PAVING, GRADING, CURBING, GUTTERING, AND OTHER NECESSARY AND INCIDENTAL WORK; PROVIDING FOR THE PAYMENT OF SUCH IMPROVEMENTS AND OTHER INCIDENTAL EXPENSES BY THE ISSUANCE OF WARRANTS, BOND ANTICIPATION NOTES AND BONDS; PROVIDING FOR ASSESSMENT OF THE COSTS OF SUCH IMPROVEMENTS AGAINST THE PROPERTY SPECIALLY BENEFITED THEREBY AND THE LEVY OF GENERAL TAXES; PROVIDING FOR THE PUBLICATION OF THIS ORDINANCE; AND RELATED MATTERS BE IT ORDAINED BY THE MAYOR AND COUNCIL OF THE CITY OF WOOD RIVER, NEBRASKA: Section 1. Street Improvement District No. 2007-1 (the "District") of the City of Wood River. Nebraska is hereby created pursuant to Section 17-511, et seq., Reissue Revised Statutes of Nebraska, as amended. Section 2. The District shall include and encompass the designated portions of the following street and the limits, boundaries and improvements in the District are defined and established as follows: STREET IMPROVEMENT DISTRICT NO. 2007-1 THE STREET TO BE IMPROVED BY GRADING, PAVING, CURBING, GUTTERING, DRAINAGE, STORM SEWER AND RELATED INCIDENTAL WORK IS: 140lh Road beginning 57' south of the intersection of 140lh Road and Schultz Road and extending south for a length of 822.5' THE PROPERTY TO BE INCLUDED IN THE DISTRICT CONSISTS OF THE AREA DESCRIBED AS FOLLOWS: From a Point of Beginning at the center of Section 30, Township lO North, Range 11 West of the 6lh Principal Meridian, Hall County, Nebraska (S30-1O-11 W) thence westerly along the southern line of the northwest 1/4 of S30-lO-11 W to the southwest corner of the northwest 1/4 of S30-1 0-11 W; thence northerly along the west line of S30-1 0-11 W to the southeast corner of Lot 2 of the Cargill Subdivision of the City of Wood River, Hall County, Nebraska; thence westerly and southwesterly along the south lines of Lot 2 to the southwest corner of Lot 2; thence northerly along the west line of Lot 2 a distance of 357,48'; thence northeasterly and easterly along the northern lines of Lot 2 to the northeast corner of Lot 2; thence easterly along the northern line of S30-lO-11 W to the northeast corner of the northwest 1/4 of S30-lO-11W; thence southerly along the centerline of S30-1 0-11 W to the Point of Beginning.