HomeMy WebLinkAboutORD 1819ORDINANCE NO. Z 9 / q
AN ORDINANCE OF THE CITY OF RENTON FIXING THE AMOT'NT, DATE,
INTEREST RATE, MATURITY AND DENOMINATIONS OF CERTAIN LOCAL
IMPR07M ENT DISTRICT NO, 243 WARRANTS AND AUT.UORIZING AND
DIRECTING THE ISSUANCE THEREOF TO THE CITY OF RENTON FIREMEN 1 S
PENSION FUND,
BE IT ORDAINED BY THE MAYOR AND THE C!'TY COUNCIL OF THE CITY OF RENTON,
WASHINGTON, AS FOLLOWS:
SECTION I: That Ordinance No. 1807 approved and confirmed the assess -
went and assessment roll of Local Improvement District No. 243, dated December 159
1959s, pursuant to which "Notice of Collection of Assessment" was daaly published as
required by law and that pursuant to such notice the total amount of assessments
paid in cash to the City Treasurer of the City of Renton was the sum of $6,525.489
leaving a balance of assessments unpaid on the assessment roll in the sum of
07,898.44. Upon call for bids being issued on a proposed sale of bonds in the
latter amount, no bids were received. But an offer has now been received from
the Trustees of the Firements Pension Fund of the City of Renton to lend said
sum of 07,898.44 to the "Local Improvement Fund District No.....243" by purchase of
fain awd oweho/f �M
warrants in that amount bearing A76 per cent interest payable from said Fund
over a ten-year period. Said offer is hereby accepted*
SECTION IT: Local Improvement District warrants of Local Improvement
District No. 243 shall therefore be issued in said sum of $x7,898.44 to the City
of Renton Firements Pension Fund, and Warrant No._ of said issue shall be
in the denomination of $898.44 and the remaining warrants, to wit: numbered
� to .3 inclusive, shall be in the denomination of $1,000.00 each.
All of said warrants shall bet dated the - I day of c�,r� , 1960 and shall be
payable on or before the 'day of �� -4 , 1970, bearing interest at the
fain cww& bvl-r VN
rate of A)ve per cent, and reserring unto the City the right to redeem said warrants
prior to maturity on any interest payment date, in numerical order, lowest numbers
first, whenever there shall be sufficient money in the "Local Improvement Fund
District No. 2431' as created by Ordinance No. 1767 to pay the warrants so called.
PASSED BY THE CITY COUNCIL this -5 day of March, 1960
Vern H. Morris, City Mr
APPROVED BY THE MAYOR this_`day of March, 1960
J/oO R o Baxter, Mayor
AT'PROVED AS TO FORK:
of ugan & Shellan, City Attorneys
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