HomeMy WebLinkAboutORD 1093 � . .
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rii� C�ziiri�t�1�C:�; Gr i'i� ClrJ..`Y Gl' �-tiiu1C:1`� �;;�riINGTON� '�lUTHORIZ-
I1VG i i� i�31a.Y0R AND CITY CLL�'RTi TO ISSUE BONDS AGl3INST LOCAL IN�P�GV�'-
,�TMir�TT �7ISTRICT N0. 192 OF SAI?3 GITY, PROVIJING FQR T�; �A`I"y' OF
Iid'I'i�REST SAID B CNDS S�iAI�L B�A1ti, iI-� D�TE OF TH�IR ISSUE AN� P�iATURI-
TY A1V'I3 I�UT_�ORIZING THEI� �ALE OR DEZI�nY TO '�-� COTTTRACTOR ��NG
��� IL�'ROVk�fz.�tT IIV �riID DI;TRICT.
'�1'I� CITY COTJI�TCIL Oi ^li� CITY OF �i'�.TOPI I)CLS ORDAIIti AS '
�CLI:C':',T�: �
�ection l: That the i�layor and City Clerk oz" the City of �
�entor_ be and they are he_reby authorized and directed to execute
and issue local improvem�nt bonds against local improvem�nt dis-
trict i1o. 192 of' the City of Renton, and the pro�erty included
therein, whieh district was created by Ordinance TJo. 1024 of the
City of Rento�., in the aggregate sum of �'our Hundred (�400.00)
Dollars�.
Section 2: Said bonds shall �e in deno�n.inations as
follows: Bonds nur.n.bered One (1) to Four (4} inclusive, shall be
for the sum of One Hundred (:�100.00) �ollars each.
Said bonds shall be issued on or after Janu�ry 25th,
1940 and shall be payable on or before s:even (7) years after date
of their issue.
They shall bear interest at the rate of sig (6) per cent
per annum fron the date of �heir mssuance until called for payment
by the Treasurer of said City, which interest shall be payab�le
annually and shall be evidenced by coupons attached to said 'oonds,
one coupon for each year's interest, al� of which s�.�d coupon� �
shall be subject to the terms and conditions of th e bond to whieh t
the same are attached and if the b ond shall be called for payment �
before th� maturity of any coupon that mav be attached thereto
the said coupon shall become v�oid.
�_ � • .
:�uid bonds shall also contain a notice of all of the
�'acts re7uired by statute to be inserted in the �'ace of the bonds. �
�ection 3: The bonds issued upon the provisions of this
Ordinance may be $old for cash at not less than par value or may
at the election of the City be issued directly to the contractor
m.aking the ir�provement in said district, delivered to rim by the I
City Clerk i.mmediately upon their issue, upon the surrender by
him of tivas�rants issued against said Local Improvement �istrict in
an a.mount equal to the bonds so delivered. I
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 Ci�y of nentcn,
� �'Tashington, this 16th day of January 194 .
J ,. �
� � ;
�v
r�2ayor
Approved by the City Council of the Cit�r of �enton,
�`Sashington, the 16th day of J'anuary 1940.
City Clerk
�.p�roved as o .
�
Cit Attorney.
r'u�lished: �anuur�r io, 1940.