HomeMy WebLinkAboutORD 0681TI -1
"T"TO111,
Z , �X -, - Q v --
0-71
0 L
I17G TOR LII I < X' A 3 _I --.a 33 .�.d N laL
1i--17.1 IS'ZT-,T--" OF '10-13
J7.7 1` 3TT' OF'173
I ARS
S) AlL.J DOL
3 0 0 • 00D TO 7- ,LTi 21717
RL
I_moi
-T, al Z 17" 1 L
Aj� 17 I TY AND 2., T
-. 7.
j
OF
I1TT rt Y1 1 THM-r-]OF A17 -r-)
-7-1OvITJ'1-L1'41G 7-0a,
ill- SpXIATL 7:L-]1GTi1--17-" AT
IMICH
7' OIT 7-1y
--T -TOT--. ---'C)--, 0-- S T 71 D
TT'�- OFF T -T- f= -Y 07 - - L' i.i�l .1 - -
-7)01-03ILTION A!'- -I- -v'-TTT' -�T vT --f -T- C C ^t -r 7� -
TT -r- r-Ifn rj r,� 71 T� T - -V 0- A'!_ -
v C0777-
Lectio-ja 1: That a bi'id�--e shall be built Lecroi-�3, Ced&.f
0
1-�ive r in the pity of -, ton, ',L -;L t ;'ells Ztree t .
to ay, there-L'or shall be issued
in the sum o Three ThousanE Dollars `.,ayable in ten
(1'�%) years at a rate 0-±f interest not to exce-Elsiz per cent (6%0)
11 Iii accordance iL' U
'-h Gaolher 151 of Session Laws of 1923.
-I,
Uid bonds are to be serial i -L,, form u.nC,, exce-,t in the iirstu
1, bond., shall be in a -f,-,uli+.Ille of One Hundre I !ollars ("l-0.00) .
Section 3: That the -uest'o-n of issuing said bonds
shall be submitted to the :lectors of the City of Renton,'Jash-
in-gton, on the 11th nc-:7 of h -arch, 10124, at theregular elecl-ion
o 'be held on that clay. The esti--'nate' cost, o-;-' w44-&�', is Three
t
A
,, Thousand Dollars.
Section 4: That s4ia election shall be bel^ in ac"ord-
ance with lay.7s o--° th- State of rroviOin- for
17
of
snecial elections &n� under direction 1- 7ing County -'lection
I J L
3oard. The b�. i i ot- Shall co-ntain t h c -fo 11 o wi D, : " 3 hi al 1 the City
of Menton Uon issue Three Thousand Doll��.r--
of bonds forent
bridge across Ledar t-'ivur?"
1i th,--- vo-u--r desires to vote for the bonds, he shall place a
doss in the box after "Yes", and if he disires to vote a5ai-ctst
said bonds, ".1-cs luil place -s:- -vcoss in the box after the ,cord
"I.Io". The 1".Cayor a:cic"L the City- Cler-"k shall certify to the County
jj election Board, a copy of the '-Hes-j-ution of the intention of
U
the City of "Renton to submit said c'uestion at the election to
be hclP. T.=f,rch 11, 1924, at least forty-five (45) days before
the -lecticn and shall certify proper ballot form �s f rovided.
by law and not excee,7in7• t�-enty-five (25) words
Section 5: That if three-fifths (315) of the voters
Off said. Cit,;, Of `ntor votin` u�on said cro^osition of ?.onds
;ryes", twit uav`Or anC, the i'WitJ '_i of tht .ity 02 _-enton, ash-
irlgton shall be, and tiicy are i1c re - au thoriLed t o have ,riated
or enEraved, uonds o the said U' it;y of. �'entofi, aashinoton, in
the sum of Three Tnousaiid Dollars ( 3OOO.00) to be denominated
rlls Street Bridge Bonds". Said ,onds siiaall bear rot to ex-
Vic
ce d six per cent (6;o) interest, shall be s`rial in form and
maturity and numbered from one up ce nsecutively and interest
1 payable semi-annually aiid shall be ten year bonds. The various
annual maturitjres shall cor.nence t,ith the s�econd year after the
ry date of issue of the bonds and shall, as nearly as is practicible,
i
!be in such amounts as will, together with the interest on all
outstanding '_,onds, be met by an equal, annual tax levy for the
1payment of said conds 1-nd interest, cut only bond numbered one
d i
I shall be of a denomination other than a. multiple oil One Hundred
1')"ollars (''100.00) anc shall have a coi;= attached fo-r each
`interest pgyment.
Section 6: i'he amity you: cil shall anhually levy
osuf`ficierit taxes to meet the semi-annual of interest
is
�alid red-_Eption of aonds.
5ecti�n "r The bonds shall be sold at public auction
and n once callirl� ffor gids for the urchase of` said wonds,
s
jsnall eui;l1sI1C-C OriEB a tide_1c 101 I0ull consecutive vdeCks in the
s;offic dl nevispaioer, specifying the place, desiLmatinc, the day
Viand hour, subsequent to the date of last ��ublication ther:_of,
Phen sealed bids will be received and nualiely opened. :-'i co y
110 the notice shall be mailed tub the State Finance Committee at
ia,'Washington, at least three we; - -,s before the date of sale.
--3,
e notice shall specify the c.aximur: amount of interest thz
',,o n6 s hall bear :nd reruire the bidder to submit a bid s ecify-
i.ng:
(a) ^''.' e lotii est rate of interest and premiur., if any,
above -oar, at .' ich the biOder will purchase said bonds; or,
(b) I.he lo -est rate of int --rest at which the bidder
,will purchase the Bonds at rar.
The bonds shall sold to "-he bidder makinL the b st bid, sub -
j .ct to right o -L the city to re jec k- any and all gids and re -
advertise I a. -,d no I;ond snail be sol- for less than spar a -ad acc fu -
ed interest nor shall any discount or commission be allowed in
the sale of such bonds. �1__ uids shall be sealee, and,�except
in the case of the ::'taste of aahington, i_ ti:e state Lids,
shall be accom�a.niec� by a deposit of five _ger cent (� ), either
i
cash or certifies check of the a-moUnu 'L:id, vJ lich deposit shall
a
ao
S
be returned i the bid is -r:ot asserted; ane if the successful
bidder shall ±7ail or neglect to cr lle the said ,urchase of
cones, within. tarn y (7';0) � ays collo, l -,i tb-e acc t-nce of his
bid, the anou4t o -I his deposit shall be - orfeited to the city
and in that event the city nay accept t' -Le o-ffer of the one
n k- nT the next best bid.
lection 0: o bOnll shall be issued for a e=ri0cOl to
exee� t era (10) years . '"'je-- shall be raya'--le a+ tn.. off; ee o�
uhe it77rea.sure-r, be re=,istere Z, the pity clerk in a hook
E`
Uo be kept for that purpose and shall have printed in the face
thereof all niatttir Lecuired by the law of �h Ota,te oz iasiling-
F
u0n.
Section 9: o rovide for the =: ayme-it of interest
Jul said onds, tr is I Cr by "Levied a -f1 d ti --t apart c.'1(i specifi-
cally appropriated, an.annual tax of root to exceed one-third
(113) of one mill on each One I'OolwaL's f t"1.00) ,iorth of property,
real and. Personal, within the City of Renton, riot exempt from
taxation; such taxes to be assessed and oecome due and be coll-
ected annually, u -,til the ori-.cipa.l and inti --rest o` said bonds
an,-! r3i scharged.
Sec' ir,-p,
10: The -fi-fst .levy of tax ahsll be so timed
the -ayment of the f first conn andas to provide a fund for t
interest, vihI-ch shall mature with the second veer after the
date of issue, as -,-iell as t t=rest � ue_ be -'ore maturity, arcl it
saall be the o-.rthe treasurer to ri;-,_,'Iish u, notice callin�
for the surrender of said bonds in the ord.-r of their issue
s
f:CQM OIL UP COrlSeOUtively and t -11L- LAyn��:c Of holder Of L d 1 ond
must present the Sarre for 1payment on or before the -next int-
e:ce6-'L-, -jDa�arie-nt -,Period, z;.-nd iL -lot so presentee , it shall there-
after Cease to drativ interest.
Section 11: This ordinance shall be in full force
end effect five C& -Ts (0) IrOlf, a& alter its passage, a-,I:)roval
6nd legal publication as '-rovi'e,77 -ID77 la�-j
7
proved this day of
Thomas Raymond_
I. av o r
a 9 s e d S t17 ay of Jt 4
. 7. --i-, iF
(Seal) J• tj L �T,,j S
itVT
_,_,proved as to o r ri
Lot I)avis
Lity �ttorney.
Bate -first 01 publicatiD-c,: Jan -u ar
L _L L 0-
, 1(j 24.