HomeMy WebLinkAboutORD 1238A
ORDINANCE NO. 1238
An Ordinance of the City of Renton, Washington, authoriz-
ing the Mayor and City Clerk to issue bonds against Local Improve-
ment District No. 211, of said City, providing for the rate of
interest said. bonds shall bear, the date of their issue and maturity
and (Authorizing their sale or delivery to the contractor making the
improvement in said district.
follows:
The City Council of the City of Renton does ordain as
Section 1: That the Mayor and City Clerk of the City
of Renton be and they are hereby authorized and directed to execute
and issue Local Improvement Bonds against Local Improvement
District No. 2.11, of the City of Renton, and the property included
therein, which district was created by Ordinance No. 1214 of the
City of R6knton, in the aggregate sum of Eighteen Hundred ($1800.00)
Dollars.
Section 2: Said bonds shall be in denominations as
follows: Bonds numbered one (1)- to eighteen (18) inclusive shall
be for the sum of $100.00 each.
Said bonds shall be issued on or after the 14th day of
January 1946 and shall be payable on or before seven (7) years
after date of their issue.
They shall bear interest at the rate of six (6) percent
per annum from the date of t1ieir issuance until called for payment
by the Treasurer of said City, which interest shall be payable
annually and shall be evidenced by coupons attached. to said bonds,
one coupon for each year's interest, all of which said coupons shall
be subject to the terms and conditions of the bond. to which the
same are attached and if the bondshall be called for payment
before the maturity of any coupon that may be attached thereto the
said coupon shall become void.
J
Said bonds shall also contain a notice of all of the
facts required by statute to be inserted in the face of the bonds.
Section 3: The bonds issued upon the provisions of this
Ordinance may be sold for cash at not less than per value or may
at the election of the City be issued directly to the contractor
making the improvement in said. district, delivered to him by the
City Clerk immediately upon their issue, upon the surrender by him
of warrants issued against said Local improvement District in an
amount equal to the bonds so delivered.
Section 4: This Ordin.gnce shall be effective five (5)
days from and after its passage, approval and legal publication as by
law provided.
Passed. by the City Council of the City of Renton, Wash—
ington, the 15th day of January 1946.
Approved by the City Council of the City of Renton, Wash—
ington, the 15th day of Janupry 1946.
xa7r
City Clerk
A -proved asto form:
City �Attorney-
Published:
January 17th, 1946.