HomeMy WebLinkAboutORD 0890 . �
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�?' �R�IT�'4NC:� conf i�ming the rewult of a special election held I+�.dreh
11, 193U, proTridin� for certain additions and betterments to
;,he existing water�vork� �ystem �f the City af �'�enton and
autri;;rizing the issuance of special water re�enue bond� in
the sum of �10U ,000.00 i.� pay theref�r, proT�idi.ng for the
f�rm and detail of said �onds , the istiu�.nce r�nd r.��li�rery
t��aereof, �nd decl�rin� an emergency.
`i:����EAS, at a specia.l elec�i;.n held in the City of �ten�:;:; ,
.�`asi.i.�;ton, on �'Iarch 11, 1930, -p�a.rsua.�t t:; ;;ruin�:.nc� �1�.
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8�� :�� said city, passed �.nd a��rosred �'ebr�.zary� 4 , �93U, ti�e
��ualified �iot�rs of said city=�a��pted a pr�p;.siti�n for the
making of certain additic,ns an�d,� tterments to the existing I�
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jl�ater�orks sys tem and is suing ����e�ial water re�renue bond� in
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��ie ;�rincip�.l sum af :�100 ,000.OQ;�to pay therefor; and,
',1H�REAS, �aid city is notiv desircus of c�n�tructing said
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addi tions and betterments and is�uing said bonds ; nov�, therefore,
"�:r��� CI i� �OLTi1CIL Or `�HE CIiY OI+' -f��N^0'\T DOES ORD�I�`1 AS '�'OI�I�O`,��:
::�ectia� l. `�'hat the �.cicptian by the �roters of the
�i ty of i�ent;;n at the electi�n held therein on �arch 11, 1930, �
of a prop;.s i tion for the making of c ertain addi ti�ns and
beti:errnent� tc the existing water=�i�rr:s sywter�l and the is�u-
ance of .pecial �rater re�enue bands in tYie surn �f �$100 ,�OC to
pay theref�r, be und �he same are hereby in all ti�.in�s rati-
fied and confirmed.
Uec��i:.;n 2. That the ruayor a.nd city clerk be and
�r�:y �re i�ere�y autnorized �nd directzd to execute and issue
�,e;,�tiable special �vater revenue bond� of s aid Ci ty of Ren tc.n
ir� the principal sum of :�1Q0,000, nfz�bered from 1 to 200 in-
clusiz�e, in denominati�ns of ?�50�.0-�? each, to be d�.ted the
lst day of June , 1930 , b��_r in+.�rpst at the r���e of 52��
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1�er a.n:�um, pay�,ble �emi—a,nnually on the fir�t days of June and
�ece_���el �i eacr� year , and t� r�ature serially in tYie orc�er c;f
t�,e•i r r�urr:i;n,� •�:: �'::ll.c�v; ;
�; 3,5Ui}.00 �n ��ane 1, 1933
3,5UO.Q0 :�n June 1, 1934
3,500.00 on June 1, 1935
� 4 ,QOG.U4 an June 1, 1936
4 ,5uG.0� on June 1, 1937
S,�OO.OQ on June l, 1938
5,OU0.�0 ;n �:une l , 1939
:� ,OOQ.OU on June 1, 1940
5,500.00 :n June 1, 1941
5,500.00 cn June l, 19�2
6,004.00 �n June 1, 1943
6,500. 00 �n June l, 1944
7,OOQ. 00 nn June I, 1945
7,000.00 �n June l, 1946
7,0OO.OU on June l, 1947
7,000.00 :n June 1, 1948
7,000.00 cn June 1, 1949
7,500.00 on June l, 1950
All of said bonds being �ayable out of the �ro�s re�renueti of
saod t�aterwo�rks �ysten� as rr_�_re y���rticularl� ��et f'�rth in �aid ��
ordinance TZo.: 884.
Sec�ion 3. ihat �aid boncis hereby auth�ri�ed si:�.li
� ��e in sub�tanti�l�y the f�1lo�ving f;,rr.�, exce�.��� t�� ���:: d�t� :;i
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payirien t� :
No. :�, �
UI3I iEi7 S i�i;S 0� a'Tu�t±;T�IC�j
i^�i� 0+ �Td�ASHI�TCsTO�rr i
Cillv �� ���i�1�TT
REVT�TJ SP�CIAL `:�A�'�I� '�E��;TJtTE BONDS 1930
IzTT01V AZL 14'�2d BY ^Hr��� PRESE�?i S, ihat the Ci ty of Ren tan, �
I� a municiaal cor cration �f the State of ��lashingt�n ,
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�.cknaz�vledge� itself t:; owe and for �ralue receizred
hereby prorni�es t� pay to beare� �n the first day of
,Tune , 19 , the principal sum of :�500.00, with
interest thereon at the rate :,f 52�o per annum, payable
w�r�li-a,nnually :.n tr�e fir�t days of June and December
:;i each year, as eryidenced by and upon �resentation an d
tiurrender of tY�e annexed intere�t coupons a� they '
�ezrerally become due, Y��tYi principal and interest payabl�
i�� gold c�in �f the United �tates af �merica of the
�resent standard �f tiveight a,nd fineness , at the :.ffice
�z' the city trea�urer of the City of Rent�n , or at the
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`i'1�Ca� c'i�E.'Y]C;jj ^v�' *11@ at.P«i2 Oi ,t'`�.Sa�'11i.�'�:ii; i73 ivev�r Y0�lSy
at tne :.ptian of t17e hclder hereof, b�t�i ;�rincipal
and interest being paya'�le solely out of the grc��
x•e�renues of the �ater suppl;� syste� of said �ity
I :af Hentan, as pr�vided in Ordinance No. 884 of �aid
i City, passed �,nd apprc�red �'ebruary 4 , 1930 , and the
city t�easurer of said city i� hereby direc�ed to ��y
the �ame as herein �rozrided.
i'his bond is ::ne of an issue of �pecial v�ater re�Tenue
�ondw in tr.e principal surcl of w10U,000 au�hcrized by
�che �Qters �f said City af ?�enton �t �n electi�n held
therein on Itlarch 11, 1930 , pur�uant to �aid crdin�nce
a84 f�r the �urp�se ef providing fund� to pay for certain
additionw and bet�erments to the exis ting municipal �rater-
titi�rks eys�e�r_ �nd is �ayable out of the special fund
created by said �rdinance No. is84 , called "Renton Utility
�,Y�ter Bcnd i+und", wriich fund is to b� drawn upon for tre
s�le �urpcse of payin� the �rincip�.l �nd interest �f
said bvncls .
ihe City of t�ent�n hereby �o�renants wi tsi t3�e izclders
of this b�nd th�.t it will kee� and �erfor.:� all the
c�TrQnun�4 :�nd prornises in the said Qrdin�.nce contained,
to be by it kept and perfors�ed, dnd said city does hereby
irre�rccabl;� �bligate and bi:�d itself t� set aside and
pay into .aid b�nd fund fr;�m tr,e gress re�renue. :.f ,aid
vratei syster.l at least tYiirty dayw prior t� the re�pecti�e
dates ug�Qn which interest or princip�.l �n3 i�terest af
the bonds of t:nis issue �hall become due , d sum equa.l to
tne amountw of sucn interest or �uch principal and in�
terest, a� the case r:nay be , vPhich �.s�ounts .o pledged
�re hereby declared t� be a prior lien ar,d charge upon
the gr�sw rejrenues :.f said waterworks sys tem and all
additi�ns theret� , superior t� all �ther li�ns and
ch�.rges , including charge� f�r maintenance and operati::n.
`ihe City of Rent�n furtner bind� its�lf to esta�lish
and maintain rate� fcr water service vvnich sha:ll pro�ride
�ufficient revenues to perm-v the pa�:r!ent into w�:ch
I �yecial fund of the said sums tvhich the city has �ledged
to be set aside for the Fa.yment of tY�e principal and
interest cf ��id �cnds until euch bonds ha�e been paid
in full.
It i� hereby fcur.d , certified and decl�red that s�id
tiaur.d� are is�ued purwuant t� �nd in �trict compli�.nce �r�ith
the lati�r� and c::r.�titution cf the State of ��lastzin�ton a:nd
cf the: ordinances cf trle City �f Her,tQn, and that all acts ,
conditicrQ and thing� requixed t� be done precedent t� and
in the i�su�:r.ce ::f this bond have happened, been d�ne �nd
perf:.rr�ed, «�s rer�uired by la�:.
i IN '�lI iT�E55 ��z�EOr, the City �f RentLn has c�.used
t��i; b�ni� �o be wigr�ed �y it� rn���r and attetited by itw city
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cler�c and its corporate tie.al to be hereto affixed, a�d the
i r,tere�t c oup�ns a t tached t� b e s igned a,nd w ealed �°i th the
lithographed signatures cf said �fficerw and t:e seal cf
said City, thi� lst day of June, 193Q.
CITY OF RENiON I
BY �G'U I
It8 i�T�yCr - - - --
� A`I'i�+.'ai`': I
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� � �F�; �"✓�'�.'""�,�-�,�,��.�_
--�'��ts�ity Clerk
ir�� ir.teree t c�L�p�nw «��tached t� �aid bond� �hall be
su�� ta.�tially in the follo��ing f�rr�, excep.t as to date� of
payrnen t: I
INiERE S i COt1P0�T
No« �13. 75
On the fir s t day of s I9 , the Ci ty
of Renton , State of ti`dashin�ton , v�ill pay to bea.rer,
a.t the fiscal agency of the State af 4V'awhin�t�n in the
�;�ity of ATev� York, or at the office of the city trea,urer
�:.° the City cf Renton, at holder's opticn , the sum
�f thirteen and 75/lUG d�llars in gald coin of the
t���2ted �twtes cf �merica, sclely fram the speciwl fund
k,otiYn as '��en tan Utili ty "1�,��r �::z.d Fund'� said stun being
trle se�ili-arnual interevt due tiiat day or its special water
re�rerue b�;.,d dstec� J�:r.� l, ��a3Q , numbered ,
G�i'Y OR �'ENTOT�
3y
�1�B` yy:.c��^v Y'
-�n-�-inr�� .
���1 1��::1 •
Its i,ity Clerk
Secticr. 4. .�11 �f said bonds shall be �igried by the
maycr and atte4ted by the city clerk under the sea1, of said
city, a.nd each of said interest coupons shall �e sigr.ed with.
the facsirsile signature, of said afficials , a.ttested with �
I the facs imile of �aid �eal, and such fac.imile �i�natures
and �eal �.hall be binding to all intents and purpo�es upQn
the 4aid City of �?entcn.
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Sec�i::}: `�. �ri�::.t the so:le �f ��.id bor�ds to t'r�e Peopleti
�ecurities Company and the h�i�rine Nwti�n�,l Company heretcfore
made by the city auth�rities be and tne s�une is hereby ratified
and cor,firmed �nd �,� 400n as said b�nd� are executed trie city
c1Erk i� hereby authorized and direc�ed to deli�zer the same �
to .aid purcha�er upan payment of the purchase price trl�r�for.
Secti�n 6. ihis ordina.nce i� deelared to -t;e c.r,e r,ecew-
s«ry f�r the immediate protectiar. and pre:e.�Trati��r. c; r the
pub.lic health, pe�ce and �afe�y cf the ;,r,e::pie ::f tr�e City
of Rentcn and an emergency is hereY�y declared to exis{ , �nd
�aid �rdinance iw declared to be in full force and effec�
fra�t �nd after its passage , approtral and publicatian.
P�SSED AND AP"??CV�D thiw �r:�� da;,� :.f Jur.e, 19'.;�G.
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