HomeMy WebLinkAboutORD 3971i
CITY OF RENTON, WASHINGTON
ORDINANCE NO. 3971
AN ORDINANCE OF THE CITY OF RENTON, WASHINGTON
EXTENDING FRANCHISE TO MUNICIPALITY OF METROPOLITAN
SEATTLE -METRO
WHEREAS the City of Renton by Ordinance No. 1879 granted a
franchise to Municipality of Metropolitan Seattle -Metro through
July 1 of 2016; and
WHEREAS Municipality of Metropolitan Seattle -Metro has requested
a twenty (20) year extension of that franchise for the purpose of
selling bonds to do additional construction work on its facilities;
and
WHEREAS the extension of the franchise would likewise result
in the bonds being sold for a lower interest rate and thereby
resulting in the minimum charges for Metro services being passed
on to the consuming public; and
WHEREAS such extension would thus appear to be in the best
interest of the public, NOW THEREFORE
THE CITY COUNCIL OF THE CITY OF RENTON, WASHINGTON, DO ORDAIN
AS FOLLOWS:
SECTION I: The above recitals are true and correct in all
respects.
SECTION II: The franchise granted to the Municipality of
Metropolitan Seattle -Metro under Ordinance No. 1879 is hereby
extended until July 1, 2036.
SECTION III:
This Ordinance shall be effective upon its
passage, approval and thirty days after its publication.
ORDINANCE NO. 3971_
PASSED BY THE CITY COUNCIL this 20th day of January, 1986.
Maxine E. Motor, City Clerk
APPROVED BY THE MAYOR this 20th day of January, 1986.
Nancy at ws, 04 6F -Pro tem
Approved as to form:
Lawrence,J. W en, City Attorney
Date of Publication: January 24, 1986