HomeMy WebLinkAboutORD 1080 .� - �•
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I� QRDIN,ANCE N0. � f7d � �
AN ORDINANCE OF TFi� CITY QF F�NTON, WASHIPTGT4N, AIITHORIZ- '
ING `I�iE I�'A.YOR AND CITY C�RK TQ ISSUE BONDS AGAINST I,OCAL IMPROVE-
AQENT DISTRICT N0. 191. aF SAID C ITY, PROY.LDIlVG �OR T.FiE RATE OF
INTEREST SAID BQNNnS SHALL BEAR, THE DAT� OF Tf�IR ISSUE AND MATURITY �
AND AUTHORIZING THEIR SAI� QR �EZIVyRY TO THE CONTRACTOR MAKING TI�
IMPROVIIt�NT IN SAID DISTRICT. �
THE CITY CO'ONCIL OF TT� CITY QF RENTON DQES OR�t�iIN A i FOI�Ot��S:
Section l: That the Mayor �nd City Clerk of the City of
�- Renton be and they are hereb� authori.zed and directed to e�ecute
and issue local improQement bonds against local improvemer�t District
No. 191, of the City of Renton, �nd the property included t,herein,
whieh distriet was created by Ordinance AIo. 10I6 of the C3.ty of
8enton, in the sggregate sum of `Pwelve Hundred ��1200.00) Dollars.
Section 2: �aid bonds shall be in denominations as fol�.ows:
Bonds numbered one (1) to twel�e (12� inclusive shall be for
the sum of One Hundred (�100.04) Dollars each.
Said bonds sh�ll be issued on or after Se�tember Z0, 1939
and shall be payable on or before seven (7) years after date of
their issue.
Theg shall bear interest at the rate of six (6) per eent
from the date of their issuance until called for payaent by the ,
Treasurer of said city, v�hich interest sh�ll be payable annually
and shall be eviden�.ed b� coupons attached to said bonds, one
coupon for each year's t�nterest, all of which said coupons shall �
be sub�eet to the terms and eonditions of the bond to which the
s�ne are attaehed an.d i�' the bond shall be called for payment
bePore the r�aturity of anp eoupon that may be attached thereto the
said coupon shall become void.
Said bonds shall contair. 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 eash at not less than par value or may �i,
at the election of the city ba issued directly to the cor_tractor
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making the improvement in said district, delivered to him by the ,
City Clerk imm.ediately upon their issue, upon the surrender by
him of warrants issusd against saic� local improvement distriet in
an amount equal to the bonds so delivered.
Section 4: This ordi.nance shall be ePfeetive Pi.ve (5)
days from and �fter its passage, approval and legal publication
as by law provided.
Passed by the City Council of the City oP Eenton, ��'�ash-
ington, this 3rd day oP October 1939.
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�ayor
Approved by the City Council of the City of Renton, �tash- ��
ington, the 3rd day of Oetober 1939.
Citg Clerk
Approved as to f :
.
City �ttorney
Published Octob�r 5th, 1939,