HomeMy WebLinkAboutORD 1094 r
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I�uG 1'ii:� i�:;AYOR �l� CIT�Y CLt�Ri� TO ISSUE u0T1DS AGAItdST ZOC:iL IP�PROTT�'-
�,:.::i�T i�IS1`-:ICT N4. 193 Cr �r;I� CITY, Fi'�OVIDING �OR T�� �TE Ci
T�',�'R:'ST S�I� �GrJ�� S�Z ���, TI� HA'I`E OF TI�IR ISSUE �'D T:-:AT�TR-
I��'Y ��J nU`I'HORIZING TI�IR SnLE OR �ELIVL'RY TO T� COT�iT�CTOR I.�IDTG
'T'=7� I?''�'�.0"T�T�..''�'+LT�IT II�? S_�ID DISm��ICT. ,
Ti� CITY C0��ivII� OF mP.� CZ�l� Oi ��,TOA? �OES OR��.Il'�T ��
r CI�LO-���:
Section 1: That the TRayor and City Clerk of the City of
��er�to�. �e �:nd they are hereby autrorized and dir�cted to exeeute
ard issue loc�l is�proveraent bonds against local improvement dis-
trict r:a. 193 of the City of Renton, and the property included
therein, vahich district was created by Orainanee i��o. 1022 of the
City oi Renton, in the aggre�ate sum of Two thousand t�vo hundred
( ';;�,200.00) Dollars.
�ection 2: S�id 'oonds sh�ll be in denorninations as
:Colloti^rs: :�onds numbered one to eleven inclusive, shall be for
the suz►i of Tvro hundred (�200.00} Dollars each.
Said bonds shall be issued on or a�ter January 25th,
1940 ?rd shall be payable on or before seven years after date of
thei?' issue.
�i'r�.ey shall bear interest at the rate of six (6) per cent
�er annL�. �'ro� the date of their issuance until called for r�ayment
by the Treasurer of said City, v��'nich interest shall be payable
annually and shall be evidenced by coupons attached to saa_d bonas,
one coupon f'or each year' s interest, all of which said coupons
shall be subject to the terms and canditions of t,he bond to whieh
the same are attached ana if the bond shall be cal.led z"or payment
before the maturity of any coupon that may be attached thereto
the said coupon shall become void.
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aid bonds shall also contain 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 provision� of
this Ordinance nay be sold for �ash at not less than par value
or may at the election of the City be issued directlg to tre con- I
tractor making the i.mprovement in said district, delivered to I�I
him by the City Clerk immediately upon their issue, upon the �,
surrender by hi.n of �varrants issued against said local improvement �
district in an a_mount equal to the bonds so delivered.
Section 4: This Ordinance shall be effective five
( 5} days from and after its passage, approval and legal publica-
tion as by law provided. �
Passed by. the City Council of the �ity oi Renton,
ti�lashington, this I6th day of January 1940.
�������� � �
I�Zayor
Approved by the City Council of the City oz" Renton,
�"�ashington, the 16th day of January 1940.
City Clerk.
A-p-�roved as �' :
ity nttorne y.
Published: January 18, 1940.