HomeMy WebLinkAboutORD 0973 � '�" _ -� j;t
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O�IN�NCE =TO. 973
' �PT 0:.I','II�4I�TC� 0� TT�3i CITY 0+' �.Eld'I'Oi1, kuT'I-iORIZI�dG '�3; �Y01� 9ND' G`ITY
CL�.�th'. T�J Ia"SiT� BO�V� AGAi=v�T I,OCAI, I?-��OV�;��TT �IS�ICT NQ. 183, CF SAIL
CITY, PhO�TIJIIu x �'0±� �v; �-?.�';T� CF IYTT��ST ShI�; BOiv� S��iAI,� By z, THE �ATE
0� TIi�I:� I SSUE' ��i Z':-i�I� L:kTtJ�I��Y �J� �UTH��IZI��G �'��I z SALE 0: DELZV:RY
'�0 mi� C��Ji�liCTOR i�:�iKIi1G rH� I�,�'nOV;i.�i��' I� �ID '�.�ISTi ICi.
Tiiu CIi`� CJLI�dCIL �� Ti�i; CI^lY OF �i�i'Oi� �GF,S Ol��Il1 AS FOI.�LO':75:
Section 1: That the �;'ayor and tne City Clerk of the City o� Renton
be and tney are r�ereby autnorized and directea to execute and issue local
improvement bonds against Local Improvement District tlumber 183, of +r6 ,
City of Benton, ana the property included therein, which district ��s;.s
created by Ordinance 967 oi the City o� �centon, in the aggregate surn cr ��
Four Hundred and i�va and 84�100 '(:',�Q2.84j - - - - - - - - - - - -�OI,�,i-�:;��.
Section 2: Said bonds shall oe in denominations as follc��;�:
Bond numbered 1 to be ior =!s /���� and bonds numbered 2 tc =-
121C� . , _ , __,''� � _,� 'i.,:� : _ _. _ �=� __ . � ' . �_" �`� , r�r'.�'�'3 _,._. :
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payable on or before seven years after date of their issv�,
They s hall bear interest at the r�ate of six (6) pe-_• � _�
date oi their issuance until called for payment by the Treasurer of sai�
City, vahicn intzrest shall be pa�able ai�ually and snall be evidenced by
coupons attached to said b onds, one c oupon �or each ;�ear's interest, all
of ���nich said coupons shall be siioject to the terms arid conaitio�:� c�i ��:�
bond ta tivhich tn.e sarae are r�ttached and ii tne oond shall be callua .:'ox
payment before the maturity of any co�apon that ma�.- :._ .:;,_ _�.,_.��� ��er��;o d:-.�
said coupon s1a11 oecorr,e void.
;aid bonds snall also contain � :��tice o1 ����. ;_ ___:. �w,:� �• _�_�-r°�d
by statute to be insertea in the face of the .00nd�.
Section 3. The bonds issued upon the provisions ol t:iis Orair�ar�ce �I
may be sold for cash at not less tnan par value or may �t �he election of I�
t'rLe City be issued directly to t�2 eontractor crsal�inr; the im�rovement in
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� said district, delivered to him �by tne city Clerk inuuediately upon
their issue, upon tne surrender by hi::! of warrants issued against said
����,�. improvement district in an amount equal to tne bonds so deliver�:..
Section 4; Tnis Ordinance shall be effective five (5) days from
.._:.� <�.Tter its passage, approval and legal publication as by law provided.
Passed by tne City Council of the City o� i?enton, :'lashington, tn.e
�.:�'.i da�r o a '_::�;;r, 19:57.
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