HomeMy WebLinkAboutORD 1010 � � � � * � � 1� � �y I
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ORDIPTANCE N0. 1C110
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AN ORDINANCE OF THE CITY OF �NTON, 9UTHORIZING THE 2dAY0R ANT3 CITY
CI,ERK TO ISSUE BONDS 6G�INST I,OCAL IMPROV�t��NT DISTRICT I�O. 187 OF SAID
CITY, PHOVIDING FOR 'I�iE �iTE OF TNTEREST SAID BONDS SHAI,L BEAR, THE DATE
I OF TFiEIR ISSUE AND MATU3ITY AND AUTHORI2ING 'I§iEIR SALE OR DELIV�RY TO THE
CONTR.�CTOR R2AKING THE IPQPROVEt�TENT IN SAIll DISTRICT.
THE CImY COUNCIL OF TI� CITY OF RENTON DOES O��IN A.S FOLL04'fS:
Section 1. That the �Iayor and the City Clerk of the City of Renton
be �nd they are hereby authorized and direeted to egecute and 1981z8 local
improvement bonds against Local Improgement District IJo. 187 of the City
of Renton in the aggregate sum of Twa Thousand and no�100 ('�2000.00) - -
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Dollars.
aection 2. Said bonds ahall be in denominations as f ollowe: �
Bonds riumbered one (lj to twenty (20) inclusive sha1l be for the
sum of One hundred and no�100 (�p100.00) - -llollars each.
aaid bonds shall be issued on or after December 20th, 1938, and shall
be pay�ble on or before seven (7) years after date of their issue.
They shall bear interest at the rate of aix (6) per cent from the date
of their issuance until called for payment by the tre�surer of said city,
which interest shall be payable annually and shall be evidenced by coupons
attached to said bonds, one coupon for eech year's interest, al 1 of which
sa.id coupons shall be subject to the terms and conditions of the bond to
�uhich the same are attached and if the bond shall i�e called for payment
before cnaturity of any eoupon that may be attached thereto the said coupon
ahall become void.
Said 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 provisions of tnis Ordin,ance may
be sold for cash at not less than par value or may at the election of the city
be issued directly to the contractor making the improvement in said district,
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delivered to him by the city clerk immediately upon their issua, upon the i
surrender by him of warrants issued against said local improvement district
in an a,mount equal to the bonds so delivered. �
Section 4. This �rdinanee shall be effective five (5) days from and
after its passage, a.pproval and leg�l publication as by law provided.
APPROYED by the City Council of the Cit� of Renton, T�Vashingto�, the 20th
day of December, 1938.
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p.�SSED by the Cit� Couneil of the City of Renton, 4da.shington, the 20th
day of December, 1�38,
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- C I T Y — C L E R K
APPROVED AS �IfO FO_�':
C I TY ATTO RNI� Y
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