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HomeMy WebLinkAboutORD 1494ORDINANCE NO. 1494 AN ORDINANCE of the City of Renton, Washington, providing for the submihsion of three propositions to the qualified electors of the city at a special election to be held therein on November 2, 1954: the first, authorizing the issuance of general obligation bonds in the principal sum of $110,000 to construct a bridge on Williams Street over the Cedar River; the second, authorizing the issuance of general obligation bonds in the principal sum of $100,000 to construct a swimming pool with all necessary facilities therefor in Liberty Park; the third, authorizing the issuance of general obligation bonds in the principal sum of $117,000 for certain street improvements. WHEREAS, it is deemed necessary for the public welfare and benefit that a bridge be constructed across the Cedar River on Williams Street and, to pay the cost thereof, that the city issue and sell its unlimited tax levy general obligation bonds in the principal sum of $110,000; and WHEREAS, it is deemed necessary for the public health, welfare and benefit that the city construct a swimming pool with necessary bath- houses, dressing rooms and a heating plant in Liberty Park in the City of Renton and, to pay the cost thereof, that the city issue and sell its unlimited tax levy general obligation bonds in the principal sum of $100,000; and WHEREAS, it is deemed necessary for the public health, welfare, benefit and safety that mercury vapor street lights be acquired and in- stalled on certain streets within the city, including Park Street, that the city acquire and install traffic signal lights at certain street intersections and that the city widen and pave Park Street and, to pay the cost thereof, that the city issue and sell its unlimited tax levy general obligation bonds in the principal sum of $117,000; and 7- I WHEREAS, the Constitution and Laws of the State of Washington provide that the questions of whether or not said 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 b�r the Council of the City of Renton, Washington, as follows: Section 1. That for the public welfare and benefit the city shall construct a bridge over the Cedar River at Williams Street and, to provide the funds necessary to pay the cost thereof, shall issue and sell its unlimited tax levy general obligation bonds in the principal sum of $320,000. Section 2. That for the public health, welfare and benefit the city shall construct a swimming pool with necessary and adequate bathhouses and dressing rooms adjacent thereto and install a heating plant to heat the water for said pool in Liberty Park and, to provide the funds necessary to pay the cost thereof, shall issue and sell its unlimited tax levy general obligation bonds in the principal sum of $100,000. Section 3. That for the public health, welfare, benefit and safety the city shall.- A. hall. A. Acquire and install mercury vapor lights with all poles and appurtenances on approximately the following streets: Ornamental Pole Mountin Third Avenue, Main to Morris Second Avenue, Logan to Rainier Wood Pole Mounting Logan Street, Third Avenue to Airport Way Burnett Street, Williams, Wells, Main - 2nd Ave. to 4th Ave. Mill Street, Bronson Way to 3rd Ave. Williams Street, 4th Avenue to Grady Way Wells Street, 4th Avenue to Grady Way Dain Street, 4th Avenue to Grady Way Walla Walla and Houser Way, Main St. to Bronson Way Fourth Avenue and Main to Shattuck Street Shattuck Street, Third Avenue to Fourth Avenue Bronson Way, Mill Street to Houser Way Park Street, Bronson Way to 8th Avenue North Rainier Avenue, Third Avenue to North City Limits 2. B. Acquire and install traffic signal lights at the following intersections, which lights shall be tied in with and made a part of the present traffic signal central control system; Third Avenue and Main Street Second Avenue and Rainier Avenue Third Avenue and Burnett Street Second Avenue and Main Street Bronson Way, Sunset Boulevard and Maple Way C. Widen and pave Park Street from First Avenue North and Bronson Way to Fourth Avenue North with asphaltic concrete pavement and with necessary concrete curbs and gutters and, to provide the funds necessary to pay the cost of the improvements described in this section, shall issue and sell its unlimited tax levy general obligation bonds in the principal sum of $117,000. Section 4. The bonds of each of said issues may be combined in one or more issues and shall be sold at such time or times as found to be necessary, shall bear interest at a rate of not to exceed 6% per annum, and shall mature in from two to ten years from date of issue in such amounts as will, as nearly as practicable, together with the inter- est on said bonds, be met by equal annual tax levies for the payment of the principal thereof and interest thereon. Both principal and interest of the bonds of each of said issues shall be payable out of annual tax levies 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 Council. Section 5. It is hereby found and declared that an emergency exists requiring the submission to the qualified electors of the city of the propositions of whether or not the city shall issue said bonds for their ratification or rejection at a special election to be held - 3 - within the city on November 2, 19541n conjunction with the state and county general election to be held on the same date. The King County Auditor, as ex officio supervisor of all elections to be held in King County, is hereby requested to also find the existence of such emergency and to call and conduct said special election to be held within the city on that date at the same time and places and with the same election officials as fixed for the state and county general election, to submit to the qualified electors of the city the three propositions hereinafter set forth. The City Clerk is hereby au- thorized and directed to certify said propositions to the King County Auditor in the following form: PROPOSITION NO. 1 Shall the City of Renton, Washington, construct a bridge over the Cedar River on Williams Street and, to pay therefor, issue its general obligation bonds in the principal sum of $110,000, both principal and interest thereof to be payable by annual tax levies to be made without limitation as to rate or amount, to bear interest at a rate of not to exceed 6% per annum, and to mature in from two to ten years from date of issue, all as more spe- cifically provided in Ordinance No. 1494 of the City of Renton? BONDS, YES . . . . . . . . . . . . BONDS, NO . . . . . . . . . . . . PROPOSITION NO. 2. Shall the City of Renton, Washington, construct a swimming pool with necessary bathhouses, dressing rooms and heating facilities in Liberty Park and, to pay there- fory issue its general obligation bonds in the principal sum of $1002000, both principal and interest thereof to be payable by annual tax levies to be made without limita- tion as to rate or amount, to bear interest at a rate of not to exceed 6% per annum, and to mature in from two to ten years from date of issue, all as more specifically provided in Ordinance No. 1494 of the City of Renton? BONDS, YES . . . . . . . . . . . BONDS, NO . . . . . . . . . 4. PROPOSITION NO. 3 Shall the City of Renton, Washington, acquire and install mercury vapor.street lights and traffic signal lights on certain streets and intersections within the city and widen and pave Park Street from First Avenue North and Bronson Way to Fourth Avenue North and install mercury vapor lights thereon and, to pay therefor, issue its general obligation bonds in the principal sum of $117,000, both principal and interest thereof to be payable by annual tax levies to be made without limitation as to rate or amount, to bear interest at a rate of not to exceed 6% per annum, and to mature in from two to ten years from date of issue, all as more specifically provided in Ordinance No. 1494 of the City of Renton? BONDS, YES . . . . . . . BONDS, NO . . . . . . . PASSED by the Council of the City of Renton and approved by its Mayor at a regular Council meeting held on September 14, 1954• ATT�,Sfi- ,�.t I INN City Clerk r4PAESTON AS TO FO, fi RG N OOWT&HRIZ Special Bond Counsel for the City OF RENTO , THI GTON Mayor Date of publication: September 16, 1954. - 5 -