HomeMy WebLinkAboutORD 1847I
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RT:l1-h 9-81;i60 .6
ORDINANCE NO.
AN ORDINANCE of the City of Renton, Washington,
providing for the submission to the quali-
fied electors of the city at a special elec-
tion to be held therein on November 8, 1960,
of the proposition of whether or not the
city should issue its general obligation
bonds in the principal sum of $450,000 in
order to provide funds to pay the cost of
constructing and equipping a new public
library building on land owned by the city.
WHEREAS, the present public library building of the city
is old, obsolete and inadequate to properly take care of the public
library needs of the people of the city and, therefore, it is deemed
necessary and advisable that a new library building be constructed
and equipped on land owned by the city and within the central area
of the city; and
WHEREAS, it is further deemed necessary and advisable
that the city issue and sell -its unlimited tax levy general obliga-
tion bonds in the principal sum of $450,000 to provide the money
necessary for such purposes; and
WHEREAS, the Constitution and laws of the State of Washing-
ton provide that the question of whether such bonds may be issued for
such purposes must be submitted to the qualified electors of the city
for their ratification or rejection;
NOW, THEREFORE, BE IT ORDAINED by the Council of the City
of Renton, Washington, as follows:
Section 1. It is hereby found and declared that the public
welfare of the people of the City of Renton requires the city to
construct and equip a new public library building on land owned by
the city and within the central area of the city.
That for the purpose of providing the money necessary to
carry out such plan of capital improvements the city shall issue its
unlimited tax levy general obligation bonds in the principal sum of
$450,000.
Said bonds shall bear interest at a rate of not to exceed
6% per annum payable semiannually and shall mature in from two to
twenty years from date of issue in such amounts as will as nearly as
practicable, together with the interest thereon, be met by equal
annual tax levies for the payment of the principal thereof and inter-
est thereon. Both such principal and interest shall be paid out of
annual levies of taxes to be made upon all the taxable property
within the city without limitation as to rate or amount. The exact
date, form, terms and maturities of said bonds shall be as hereafter
fixed by . ordinance of the city.
Section 2. It is hereby found and declared that an emer-
gency exists requiring the submission to the qualified electors of
the city of the proposition of whether or not the city should issue
and sell said bonds for such purposes at a special election to be
held therein on November 8, 1960, in conjunction with the county
and state general election to be held on the same date.
The King County Auditor as ex officio supervisor of elec-
tions held within King County is hereby requested to also find the
existence of such emergency and to call and conduct such special
election.
The proposition for such purposes to be submitted to the
qualified electors of the city at such special election shall be as
follows:
PROPOSITION
General Obligation Library Bonds, $450,000
Shall the City of Renton, Washington, for the purpose
of constructing and equipping a new public library building
on land owned by the city and within the central area of
the city issue its general obligation bonds in the principal
sum of $450,000, said bonds to bear interest at a rate of
not to exceed 6% per annum, to mature in from two to twenty
years from date of issue and to be paid, both principal and
interest, out of annual tax levies to be made upon all the
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y
taxable property within the city without limitation as to
rate or amount, all as more fully provided in Ordinance
No* of the city?
BONDS, YES • • • • • • • • U
BONDS, NO • • • • • • . Z—/
The polling places for each of the voting precincts within
the city and the officials to serve at each polling place for this
special election shall be the same as the polling places selected
for each such voting precinct and the election officials to serve
thereat as selected for the county and state general election to be
held on November 81 1960.
PASSED by the Council of the City of Renton, Washington,
and approved by its Mayor at a regular meeting of said Council held
this 13th day of September, 1960.
CITY OF�RENTON, WASkLINGTON
Mayor
.�
ATTEST. ,
City Clerk-'/'
P VED AS TO IFO
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'Z
GERARD M. SHELLAN
City Attorney
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