HomeMy WebLinkAboutORD 1122I� � . � r ..
OR7�TN'ANCE I�TQ. �►122
AIU O�DI.1�Tr�T,TCE OF TI� CI`I'Y OF R�:�TTON, ,#dA�HT.l3GTOT�?, AUTFiORIZTNG
� �r�AYOR .Al`,� CITY"�LERK TG ISSUE BONDS AGAINST ZOC�L IN�PROV�'It�TdT
DISTRICT N0. 194 OF SAID CI`I�Y, PROVII3LNG �OR THE RATE OF INZ�ER�.ST
SAID BONUS SI�1LI, BEAR, Ti� D.t�.TE �� 'I�HEIR ISSUE �I�i'D I�t�TURITY AI�'D
AUTHORIZING 'I'HEIR S.t�LE 4R DELIVERY TO THE CGP4TRACTOR hIAKING 1�
IMPROVEIe'+.ENT IN S.AID DIST�ICT.
TI-iE CITY COU�tiTCIi, Q� TTnL CITY 0.� RET:TQN DOES Oz'�1)�IT�� �'OLLOTd1S:
Section 1: That the I:rayor and City Clerk of the City of
Renton be and they are hereby authorized and directed to execute
and issue loeal improvement bonds against Zocal Improvement District
No. 194, of the City of Renton, and the property included therein,
which district was created by Ordinance PTo. 1092 of the City of '
Renton, in the aggregate sur,i of Sixteen Hundred (�1600.00) Dollars.
Section 2�: Said bonds shall be in denomincations as follo�vs:
. �onds number�d;�one ( 1) to sixteen (16) inclusive shall be
for the sum of One Hundred (�100.00} 7�ollars each. �,
Said bonds shall be issued on or after �v1ap '7, 1941 and shall I�
be payable on or before seven (7) years after date of their issue.
They shall bear interest at the rate of sig ( 6) per cent '�
from the date of their issuance until called for payment by the �
'�reasurer of said city, which interest shall be payable annually
and shall be evidenced by coupons attached to said bonds, one
eoupon 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 bond shall be called for payment
bePore the maturity of any coupon that may be attached thereto
the said coupon shall become void.
Said bonds shall contain a natice of a�l of the facts
required by statute to be inserted in the face of the bonds.
Section 3: The bonds issued upon the providions of this
Ordinance may be sold for cash at not less than par value or may
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a�t the election of the city be issued directly to the contractor
making the improvernent in said district, delivered to him by the
City Clerk i.mmediately upon their issue, upan the surrender by
him of warrants issued against said local improvement district in
an amount equal to the bonds so delivered.
Section 4: This Ordinance 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,
�i�ashington, this 6th day of T��ay 1941.
�7/r'(/� --
��Iayor I
no�r�tred by the City Coun.cil of the Cit� of t�enton, ti�ash-
ington, the 6th day of T��ay 1941.
. � ,
Approved as o .
�
City ttorney
. ubiisn�d: �4��.y �3, :iy41. ''�