HomeMy WebLinkAboutORD 1173 � ! .. { • - y r +' �
' •
- � r-, .. � .-s r�
A_��' '�__ ..- �:C'�^ �.a.i .
;;... ._ ___ � _ _ c.. � � 7,�
__ Uii.0 _.:ii;'v.,�'_� Gi 1;:i� ii1�� O:L ti2:1'1,0'Ll� it'c�Ul1 .ri�LGC'i� dY:1P�:;1C�1Y1�
Ordinance I�o. 1156 of the said City, �assed and approzlec.
�u.�, 9,; 1�4��, and entitiled, 'rA_?� Or��I�vAlVCE oi tne Cit� �
of �enton, ^��'Rashin�ton, providing that the sewera�e ssster,i
of' said - city shall becorae a part of and belons to the
water wor•ks syste�r� of said citst; providino for the con-
struction of certain ad�.itions ana im�rova_.:.ents to both
the sewer and water systsnis of said city and aeclarin�
t'ne estimated cos� thereof as near as :r�a; be; authorizin�;
� the issuance of water revenue bands in the principal
s,um of 4�400,000 to �a�y part of the cost thereof; creating
a._ �pecial iUnd for the �ayment of said bonds; �rovidin�;
� ���e form, date, maturities and other details of said bond�,
- at�.c! �ii;thcrizing their issuance and sale," as a���ended by
Orc�inance No. //�'7 0�' the said City of Renton, passed
a�id a��roved on t:�e 16th day of June, 1942, ana providing
for the reduction of the bond issue proviaed for in said
Orctin2nce lv�o. 1156 to the sUm o� ;�200,000, and ratif�ing
a11 eF�endituros made �nd acts dane under sa.id ordinar�ce
� � Gs a���__�.en�od.
'�'1_�����.5, on tr_e Stl� da�, of' June, lu�r2, tile Ccuncil of tb.e Cittir
� � �
of' Renton, V`�ashinbton, �assed Orainance i�o. 115�, ent�i�1Qd �s �et
forth in the title of this ordin.ance; and
�II�RE�S, thereafter, on the 16th d�; oi ��tze, 1�4u, tre s�id
City of Renton passed and a�proved Ordinance �;o. I /S7 , a_:;endin.�
,Section 2 of the said Ordinance i�o. 1156; and
:;'Ii�RExS, a �art, but not all, of' the im.�roveai:ents �rovided
for in tha said ordin�nce, as so a�mended, h.ave already been cons;��•ucte::.;
anC
�-!,'1�=�=��tiS, it �las �:�eer�, �.!��. nov: is, dee_neci b�r i:re Council c�z' tr.e
said City of Ren�on to be advisable tc rr}ake further modifications
in the 1•lans for the said im�rove�ients, and reducs the arrlount of i,'ce
bond issues ;�rovided to be i`sti�F;c; iL,r t'_-; �,�rl,osE e� �:�.j-��;_ i o�� the
cost cf cons�ructior_ +:hereof;
iv0?'�, J.'�:�'��L C _u:;, th� ��a��� CcL��c'.l o-= ;,'r.e ��_t� oi' -=:enton d��
oi'�:::�'tn as iollc�v3s :
�:�� � •� '_�� �`xc :r_:���ce 1 �. 1 ���1�, a.s said orc�lrlarlce v,as Y18T�etofore
_'A�:�r���C-a �.,... �.�C�'tiS_ �_C�� �: w _'_:'i'U���i � :'�t�Q�C� ':�G I'e�:.C� =S =�C>,..a..C�'y�� �C—ti�:-.'LtI
_��
� � . r� K ` - ..
_,i'ii.�S;.:.� L��E.'�'c i_�..��. rJ�6�._ ;._� �i'P.cl G ir�cre`�iSB �:"1 ���:E� �O�i1�!1.G l,1Gii Ol
�l��.a C�_ty of henton lately�, which increase wi)1 most likely continue
='�r a considerable reriod of time, and
,'.'I-ir;RF:AS, it is necessar5� in order to provide an adequate r�ater
�• _�y��l�r ��:nd adeqtaate sev�eraoe service for the City of' i�enton and its
-��habi_tants that cErtain additions and im�rovements should be made to
the said existing s�stems, and
!, V'a'h�n�;AS, the Federal L!orl�s A�;ency of the United States u�cvern-
:
m.ent has �rantad to the City of Renton the surn of �i�28'7, 64�.00;
Nr�ovided that the Cit� of i�enton contribute not less than �1C0,400.00
additional i or Lho �urNose of ac..��in� to and i�nprovir�; the sev�erage
system of saicl city, and
V';I�RLAS� tl�e l�'ederal �io�;sing Authority is constrUcting a
housin�; projact of ap�roximately 2, 000 units �or• defense vaorkers
and trieir farnilies just outside the city li�.its and it w�ill be neces�ary
to su�ply said housing �roject wi�th sevrer ser•vice, and
I"�I��;R�.�S, in the j ud�;r:e n� of t�e Ci ty CoUnc il and o ther c orpor-
ate auLhori�;es of said city the Nublic hedlth is being endanger�c�
b;� the inadequ�cy of the ;�re�ent sewerage syster:: ar�d saic� danber
ma�� be abatea b�r the censtri,e�ion of certain �c!di�ions arz�.+ i:r�,,�l�ovar.�ents
to tn.e present sevaeraoe syste7�, and
:�:i:��;REAS, i.n the fUrther jud�rnent of said council and corporate
authorities '� it is necessary fer the best interests of saia city tnat
said sev��era�e syster�, inclUJ.a.n�; all aC_ditions and im�r°ove�nents there-
to, shall be cons.,'_dered as and bacome a part of the water wcr;�s
L��SI,��..r� of' sayd cit�- and that the cost o�' ccnstruction of all o� the
Ga:i�e arld the maintenance and cperation thereof shall �e char�eable
�;c said wa�er works syste:n.
I`jOb��, �I'�-i�RE�`GB�, be it orda:ined by the Council of the City of
F�;n ccn , �Jash�_�.�;tcn, �s �'ollows:
_��.
� • . r M � � �'
.:�E,'v`.,�C!'? �.• �i:rl:� u 1 i� �„i�c'; 'l,',t'!. P 1'1�" n_' r _ ,�'' �,, ,-,�, � =� L�;
� _ _ � _ . � :�. �� � �.;. :;il � r�� cat��er^
�o��orate authorities of the city the �ublic health is being endangered
l�j� the lack of an adequate sewerage system,which danger may be abated
oy the censtruction of csrtain additions and im�rovements thereto, �
i� their further �udgment it will be to the benefit of' the city tc
co�:::bine its se�nera�e and water systems, therei'ore, the serverage s;�s��u�
shall hereafter be considered as a �art of and belongin�; to the water
works system of tihe city and trle cost oi the constrUction of the
i ollowing described im�rov�ments to the sewerage sys tem and. �he Ynain--
tenance and operation thereof shall be char�eable to such water works-
,�5rs tem.
Sec tion 2. Tha� the f ollowin� described plan or sys tem for
additions to and improver��ents of the sewerage porticn of the combine:
sevrera�e and' water system of the �ity� ot Renton is hereby �roposed,
� specii ied and adopted, to-�it;
That the city construct a sewage disposal �,lant (the exact t�pe
to be determined later according to bids and accordin� to equip�ent
available due to priorities }� together with all appt�rtenances, of
sUch ca�acity trat it �ill serve at least 20,000 peo�le, said dis�osal.
plant to be located in the northv�est corner of the southeast quarter
(S�,-g} of' the southeast qUarter (SE4) of Section 7, Township 23 North,
Range 5 Eas t, VV.;a`.
That the ci�y iourchase approximatQl� two acres of real
pro�erty at said location which, with the p�c�erty there now oK�ned
by the city, will be the sito of said disposal �l�n�.
' That said city lay, construct and install the following trunk
�
��wers and all manholes, wyes and appurtenances necessars to construct
a con;plete sewer system, the same to be loeated in �r along the
follov�rir_�; narned hi`;h�uays and st.reets :
�
-�-
l
, � . • ..
,
�n 8 inch pressure sewer line along �hattuck
�treet, from Sixth Avenue to Fourth Avenue, Includ-
ing two small sewer pumps , complete; � �
A 24 inch trunk sewer from �`ourth Avenue, along
Shattuck �treet to Second Avenue; thence east along
Second AvEnue 133 feet; thence north across private
property along Shattuck �treet to its north end,
�nd thence northeasterly across private property to
the right of way of Commercial TNatervray No. �; thence
along said right of way to a point directly west of
the disposal plant;
A 24 inch cast iron siphon, from the point last
de;�cribed, under Commercial �Yaterway No. 2, near
Sixth Avenue North to the previously mentioned
sewerage disposal plant;
An intercepting sewer line , described as follov,rs:
an 18 inch sewer along Fourth Avenue , from Shattuck
Street to Morris Street , �nd thence south on NTorris
Street to Fifth Avenue, and thence east on Fifth
Avenue to Burnett Street; a 15 inch sewer ou Fi#'th
Avenue from Burnett �treet to Main Street; a 10 inch
sewer on Fifth xvenue from �ain Street to Cedar �treet;
An intercepting sewer line, consisting of an 18 inch
sevTer on Second Avenue from Burnett Street to a '
connection v,rith the 24 inch sewer line hereinabove
described.
Tnat the City vbtain all rights of way, franchises and easements
necessary for the construetion of said improvements , and construct
such other �dditions and extensions as may be deemed advisable , and
may be incidental to , or reasonably necessary to, effectively carry
out the plan of improvement hersinabove set forth.
That the 8 inch and 14 inch sewer pipe to be inst�lled, as above
described, shall be of either esment asbestos or cast iron, and all oP
tha other sewer pipe to be installed, as a'oove described, (except 132
feet of 24 inch east iron pipe to be laid in Shattuck Street over the II
City of Seattle water }�ipe) shall be oP either concrete or vitrified I
clay, depending upon the bids received and the availabilit; of the
different types of pipe. The amount of sewer pipe Por each size
thereof is as follows:
8 inch sewer pipe, approximately 1 ,115 Peet ,
14 inch sewer pipe, approximately 120 feet,
10 inch sewer pipe, approximately 540 feet ,
12 inch se���er pipe, �pproximately 3,387 feet ,
15 inch sewer pipe , approxi.�.nately 8'�3 feet,
18 inch se�ver p ipe , appr'oximat ely 2 ,922 feet ,
24 ineh sewer pipe, approximately 11,N21 feet,
24 inch cast iron sewer pipe,
appro�imately 13� feet.
-4-
`', 14 inch water mai�, extendin� irom. said pro�osed
wells at Liberty Park alor�g l�ou4er YdasT and Railroad
��venue to "r�'ourtn Avenue ��orth; thPnce easterl�,T to sai;;.
�. '°o;�:�,����. re,����;-;�, l�so
i�he City shall also construct and install such othei�
a�.�7.��:�_c.��� i�ri�rovements and extensions to said system as .nay be
ciee.r.a;� ��dvisable, and which are incidental to, or _reasonabl� ne I
�o �%a�=_e ef't'ective and complete, �che water systern �enerall� hereinabove
described.
�T�hat i,.1e pi�e to be ;�urcL�ased and installed, as ���s��
described, shall be as io�lows :
14 inch �ipe, apNroxi:�ately 5, 5�0 �'ee t,
8 inch �ipe, approxim�ately 3, OU0 feet.
1'hat all �aid ir;.�rovements to said water sys�tem �hall be
conr�ec �e� �o and become a part of the �resent existin� water system
cf t���:; Cit;; of Renton.
-':,_at the estimated cost of said additions and imp��ovements .
._,. ; ydF�; �'��ed,as near as may be, in trie sum of' w100,000, ��75,000
oz" which will be �aid #'rom a part of' the proceeds of the bond issue
�iereinafter provided for, and the rem�ining w25, 00O3 �s rxear as may be,
from the existin� and hereaf'ter accruin� water r•evenues of said syster�.
� Secticr 4. The Cit�, does r�ereby propose and adopt as an
inteoral par•t of the �lan for the above described im�rovements the
�ssuance of bonds for the ;�ayment cf �art of the cos t of the said
sewerage systern improver�ents in the �rincipal su�� of �p125,000, and an
isst�e of bonds for the purpo�e of' partly payir_� f'or the improvements
tc the water system above described, in the �rinci;�al sum of .�'75, 000,
which said issues shall be combinec� and knovan as "CitST of Renton
1�unicipal Water Revanue Bonds, 1943," and shall consist of �eries A,
in the princi�al surr� of :;r125,000, ior the saic� sev�.�erage s�stem
�,�provemer_ts, a.nd �eries B, in the sum oT' �75,000, for the s�ia
im�roverl_e;:ts t� tr.e said v,��ter s��sterr�. Sa�� bonds srall ba i?�
,;Q
�'�a t all of' s aid in��rov�.men ts to sai u s ev��era�;e s ys tam
s�1a�1 0� ��nn!�ectec: to and ;p�co.:��e a p2r-t o" the ��resent se�dera�e
� s;�s tei�. �,f �thd saic C�ty. � �
That the estirr_ated cost of said additions and iw��rovements
��
to the said sewer system is hereby fixed as near as may be at the
sum of �412,64�.00, oi which amount �¢287,649.00 has been granted
tne City by tne Federal b"dorks A�encj.T of �Y�e United States of .America, il
and the reznaining �p125, 000.00 will be �aid fror.-� part of the proceeds
' of the bond issue hereinafter provided for. i
Sec�ion 3. That the following descri�a�a plan or
for aclaitions and improve�lents oi the existing water works �
of' the combined sewera�,e ar.d water� systezns of the City of Renton
is hereby pro�osed, apecified and ado�ted, to-wit:
2'hati the Cit di� two deep water wells at Liberi�y Park in
Y �
the City of Renton, construct a one million �allon per day �umping
plant conlplete with motors and all necessary appurtenances, including
a sand-box, drain, a�uto�atic regulatin� devices, and housing for
pumps �nd motox�s , saic� plant to be located �t or near trie site of
said vaells at said Liberty Park. Construct two 500,000 gal. reserz�oirs -
complete tivith an 8 inch drain pipe and autom�_tic regulating devic�:
and all necessary ap;�urtenances thereto, at a site on or near 112t�i
Avenue S.E. and trie Old issaquah 1�oad as said avenus and road are
shown on plat of ��Jindsor Hills Addition to the City of Renton on file
in the Kir..g County �;n�ineer' s Of��ice and purc�ase approximately 12
acres of real property at said location for t'ne site of said reservoir,
and all necessary easements and ri�h�cs cf way across private proNerty,
�� zar as necessar�y f'or the construction and installation of the water
�;����� anc� a,oy�urtenances hereinafter• provideci i'or.
`ihat the City lay and install the f o11ov�1in� described
w�.ter :nains and all hydrants, valves, fittin�s and appurtenances
nqcessa.r� to construct a cc ::��e. �� � �.�c;r �` ^ :��:,,, :,�� �r;?� �;°.�1 '�,��v�=�4
. • , ,, � - .
C.G�_�,-•------'- �_C:i`,s C�1 y;ifv�.'� c:c;i;:p Sii'�.1.� 'ti�� 1 __..i,�i :;>. i. ....� v. � " 'Lli:� i,:
u i'c,�.`�v
e�ceucw four per cent p4r annum, �ayable serriiannuall�,T, and the bonc!s
�_e bot� of said series shall have parity one vaith the othez�, �.:�;�. 'ti�
�;�.;.-at��.e solel;y fro::. �r�e fund knorv� as "Renton 1943 �'�'ater Reve .r:.u� ��oY�a
- Rede��tion Fund, " hereinafter created by this ordinance, out oi t_ �
`;ross revenues of tne municipal ��ater system. (in,cludin� �he rever...�.,
of the said sewara�e syste:n hereby made a �art of the ga:id water system) .,
�_11 oi tho said bonds shall be pa�able in lawful money of te�e �ini ted
5tates, at the Office o�' the sreasurer of the Cit�T oi Renton, V�rashingtcn. I
�'he said Series A bonds sriall 'ae nur��bered from 1 ta 125, ^rclusive, �
shall be dated !�;arch l, 1�43, and the interes t thereon shall be �aid
o� the first days of ;r�arch and Se�terriber of eac� :
serially in order of tneir number, as f'ollows :
11�arch l, 1°44 - ��6,t�0�0 f'��'`�-' �farcr 1, 1�54 - �6,000 . �
Sv�arch l, 1945 - 6,0�0,�-��:�/��ys ia'iarch l, 1955 - 6, 00�
14�arch l, 1946 - E, OQO -- �' ""� i��arch l, 1956 - 6,Q00
Marcn l, 1947 - E,00� ,. ?SIarcri 1, 195 r - 6, 000
ivTarch l, 1948 - 6', 000----� Iuiarch l, 1�58 - 6,OOQ�
T4.arch l, 1�J4� - 6, 000 ia�arch l, 1959 - �,000
t�iarch l, 1�50 - 6, OUO Tv?arch 1, 1�60. - 7,OOQ�.�',
March 1, 1951 - 6,000� Narch l, 1961 - 7,000� ' ?�, �
t��arch l, 1952 - 6, 000 �Iarch l, 1962 - 7,OUO ' �
l��arch l, 1J53 - 6, 000� �,Zarch l, 1963 - 7,,400;-.
The City of Renton reserves the ri�;ht to redeem any or all
of' the bon�s of said �eries A fallin� due in the years 1961, 1��62
, and 1°63 at pa�, and in inverse nur^.erical order, en any interest pay-
ment date, on or azter two (2} years from the date thereof, by �ivir.�.
th1.r't�r �JC� da�s � notice of such intended rode�.�tion by publicatior.
oS' such no�ice in the official city newspaper. The Gity of Renton
reserves the ri�;ht to reca.eem. any of the balance of the said bonds of
the �aid Series A in like order, manner and notice, on any interest
Naym�ent date on or after five (�) years �'ror� the date thereof. Interest
u�an any boncls �o c�tlled f'or recaerr,ption ahs.11 cease on the date the �ame
are called �'ar payment.
r� ���
— !^'
.
, . . . . : - .
r.-
1���� saici aari:.s �. f,c�,�u:� s«a11. ��e nurnbe��ea =�ros:� 1 �o r�,
'��cl�Us;v�, and s�iall be dateci and have the rnatur�ties and �rov�.sion:�
for the dates �f payrren� of �i19 seiniannUal interest and i or radem�t�.o�i i
before �maturi�;
t'ne followino :forrn, except as to number and date oi ,�ayment:
I� . / - � ,ri�l, Q00.00
�—�L-�
`F'
'U'V�'1':�:ll S`i'r1'i�S Oii' 1�LitiEt�ICA
S`ItiT� U�� tiVrLSI�IlvGI'G-i�T
GT'I'V OIi' rt�l�;'i0iv
i�1CJ1ViCIP�L t�VAT.ER R�,V�,i'�U:C; BCi�DS, 194j
S��«:�S A.
KNO��r' kLL _��_�1�; B� :i'�l.LS� �K�SL��±`I'S t That the Ci tv ei �e nton,
a mUnici;.�al corporation o�' the State o.f Vdashin��on, ac�noa�ledoes
itself ta owe, and for valUe T'EC9�.V2CI h�reby pro-�.ises to �a�T to •
bearer on the lst day of iL"arch, 1�44, tho Nr•inciy�al sum of
Ol�T� THOUSA_�T� AI�D iv0�100 i�GLI,�RS (':�1,000.00}
� to�etY:er Tnrith in�erest thar•eon at t�e rate of 3;' per annum,
payTable semiannually on t=�e 1st c�a�s o:f ::�arch and SeNter:lber of
each y�eaz°, as evi_a�ncecl, by and u�on �res�ntation a.nd surrendar
of th3 annexed interes�c co�pons as they sev�rally beco:�e due.
noth �rincipal and ir1Leres�t are �ayable �n lawi'i�l mone�r of °�ha
Ur_i�ed States of Ar�:erica at the oitica o� th� Ci�y Treasl<�.�er
a.t Renton, ',��ashin�;ton, solely oUt oT th� special fur�a ��not�� �
as �'��.enton 1943 �;ater �evenue 3ond �edemption iund" created by
Grcz-�ance No. 1156 0�' said City, as amendse� by Urdinanc�s lvos.
//57 an�a /�y3 ___._.._•
The Cit� of' �enton r�serves the ri�ht �o redeain any
or all o�' the unmatured and outstanc�in�; bonds of this issue
at �ar, in inverse nu�erical order, '�y �ivin�; �'r�i��t,�, (30) dafs '
notica o�' such intended redernN�ion by publica�ion of such not;ice
in the ofziczal city neivsparor, as follows : All or any bonds
of' tr,is Series � issu� fallin� due in the years 1�61, 1962 and
1963 may 'be redeemed on an� interest �ayment date on or after
two �(2) years from the date hersaf, and all or an�T oLher bonds
of said �erie s A on� any interes t �ay�na nt ciate on or ai tex f i�e
(�) ;;ears �rom the date hareof.
This bond -?s on3 of an issue of water revenue bonds in
t he total principal sUm os ;;:200,000, consist�no of Ser•�es �,
in the sum of '.;F125,000, novv i ssued, and Serie s '_3, to be h��reaf ter
i ssued, i n the sum of ;�75, 000, all �ursu�n t to Qrdinance i�To. 1156
of said City, as amended as aforegaid, and by Ordinan.ce 1�To. i �73 ,
for the purpose of �rovidinb fUnds �'or the construction ot certain
additions and imprcv�rnents to the setivera�e «nd water syste�,is of
said City, and is �ayaple solely out oi the bross r•evanues of
th� �ai:-'; sev�era�;e a_n_d water syst��s,
_�,_
. � '. : - ' �� .' ,
`:�'i�a �it, of �terlton her:.b;y a�;r°ees v��ith ti�e holu.es° of
c�_i_s u�nd that it vvill keep and per�crm allof the covenants
�n this bond anct in said Ordinance i�lo. 1156, as amencled as
aforesaid, to bs ke�t and performsd by it, and said City does
hereby irrevocabl� oblioate a.nd bind �tself to sat aside f'rom
the �ross revenues of said sewerage and watsr systems and all
a.dditions to each and to �ay into said fund by the 15th aay
of each month an a�no�;nt equal to at least one- �wolfth of the
coxsibined principal and interes t �ayments to be paid durin�
the next succeeding twelve months in which there are any bond�.
of this issue outetandino. Said amounts so �led�ed are hereb�
dec lared to b e a prior lien and char�;e u�or. the �ros s revenue s
of both the sewera�e and water systoms of said city and all
additions to each �u�erior to all other liens and char�es
whatsoev�r exce�tin� the necessary cost of uaintenance and !
operation of said syster��s and exceNtin� the necessar•y char�;es �
for the paymen�c of the outstanding water revQnUe bon�.s of said
CitS- dated June 1, 1940, in. �he principal sum of .i�23, 000.
The Cit;; of Renton rias further bound itself to establish
and maintain rates i cr water and sevaer services tr�at will
�rovide sUfficient revenues to permit the �ayment into said
f'und of' the sums which �the City has �ledged to be set asiae ,
for the �ayment of the principal and inter•est of t�zis bond issUe
and also to pay all the expenses of maintainin� and opera.ting
said syate.��s and the necessary char�;es for the payr�ent of the
princi�al and interest oi the said outstandiag water revenue bonds.
It is hereby� certified anc� declared that said bonds are
issued pursuant to and in stx°ict compliance wi�h the laws and
constitution of the State of V�ashin�ton an� ths ordi�?a�_ces of
the City of Renton ancz that all acts, cendit;ions and thin�;s
required to be done Nrecedent to and in the issuance of this
bond have happened, been aone and. �erforrrLed as required by law.
IN �ti�iiTTLSS u`Ii-iLRLO�� the Citt- of ��enton has caused this
bond to be signed by its ,�l'iayor and attestec� by its City Clerk
and its cerporate seal to be h�reto affixed and the interest
coupons hereto attached to be sibned with the facsimile signaturo�
of said officials this lst day of i��arch, 194:�.
CI'1'Y Q�` ic�;�d'i'G`_V, V�r'AStiiNG'1'Gi�
�y - - .—
ATZ�ST: T"ayor
City Clerk.
In�eres t coupons a ttached to - said bonds sr�all be in sub-
stantially the f'ollowino f or�m:
-�-
� • � J • � • ' + ' . , � I
�'�: uile w'ir s t da�� of , 19 , the �� r v- i
o_��' itenton, i��as�ington, will :�a� to bsarer at the �fii�e
c��' the City Z'reasurer, the sum o�' � , in lawful
_�_:oney of tre United States from the s�ecial fund of sai:
:;i t�r known as "Renton, 1943 Water Revenue Bond t�edemptic i
��'und" said sum bein`; the se�iannual interest dUe that d�
u��on i ts water revonUe bond dated Ivlarch l, 1943, and
'7 U?i:�J�i 8 c7. .
�I'l� C�,:�' ���i�1'Gi�, ;��aS�Il�rTG�,!
<Y��.�1�+v� i ..
_..�-.-.�..p.�....._.___ ��. . ._ ._... .. . ..� .....,......
•Y! t__
..�,a_m:_ �erias Fs �oniis srzall �o, exe.eNt a� io c��te, :s�a�u�•it�,
date oi' interes t payments, and provis ions for redem,�tion 4 of � �ke
f'orm to that hereinbefore set �'orth in this sectior.
Section 6. Saia bonds shall be si�;ned by the �uiayor a�
attested by the City Clerk under the seal of said City, and e�.j�
the interest cou�ons attached thereto shall be s'.
iacsi:nile sianatures of said officials.
Section '7. i�nero i s hereby created a special fund to be
known as the "'Rentan, 1943 Water Revenue �ond Rede:n��tion Fun�" which
said fUnd is to � e drawn u;�on f or the sola yourpose of �a;�in�, the
princi�al and interest of the water revenue bonds hern�n provided for.
rrom and. ai tar the date of' said bonds and as long as any oi the sa�e •
are outstanding and unpaid. the City `lreas�rer shall set aside and
pay into said fund by the 15th_ day of' each month, out of the oross
revenues of the seweraoe and water syste�ns of said city, inclUding
::zll adciitions to each, an �,moUnt equal to at least one- twelftth of �
,
t��e combinec� principal and interest payments to be rnade durin� the
next succeed:�ng twelve months in va��ich there are any bonds of this
i ssue outs tanding.
�l�he oross revenue fro� the �nunici;�al watar systenl, including
all revanues derivec� fror�l all charges for water and se�ver service and
�11 revenUes derived from the water and 3ewer service furn�shed the
'��n'.tQ� �'t��es "�-overnr�!ent �r an�; brar{ch oi� the Federal ��ous�_�� �uthorit�T
����
� • ,4 , ' 4 � , ` � �
' , , ,
t'n Yv �Y'�'-:' � 1^,- �" ��,,.�' n .,•: ;� �,�� } -,�� . . . _ f` - .�. '� � � .. , -. ^
_ 1� vI-1 L U` C�.._V� .. ta.�v.a. ,l ....s .n t..+l ` a i'v -•<`li V 5.����1_� l;11:V l� �.C:G1.1�i. J v Z��(�C(7 U
V� 1
a��s char�ed to each individUal �nit or are �aid under a ccntract
y-v��-_ the T;`nited States Go��ernmenz or sai� r�ederal Hausin� Authority,
�.re hereby pled�ed to such pay-�:ents v��hich shall constitute a enarge
;���on all such �ross revenues �rior and sUperior to all other char�es
�°,.�atsoever, exce�tin� the necessary char�es for maintenance and
r�l�vration for said v�ater and se��erage systems and exce�ting the
�.acessary char�es for tre paym�ent o�' principal and interest of
oUt�t�nding water revenue bonds of said City dated June l, 194t:'
`T�he corp ora te a�a thori t ie s cf the Ci ty of Ren to n her eby
declare that in fixin� t'r�e amount to be paid into said f und ti::_e;y
have exercised due regard to the co�t and oN:��a ��io�^ ��n;A ,r��.�.r�. �en.��nce
of said seweraoe and water systems; that no s:or��io::� c,�' �'�_e r�venue�,
of ��,ici sev,era;ve syster�� has been previously �ledged for any indebt-
ec�n��N ��..� ';:����.� no portion cf' the revenues of said water systern has
�een previously pled�;ed �'or any indebtedness, exceNt tr.e outstand_�n�;
'.ands dated JUne 1, 1940, above described, in the total �rincipal
amount o_' .;523, 000. That in �Lhe jud�w.ent of tk�e i:OT"�pOr2t8 authorities
of sa�r'a City tl�e �ross r�evenues to �e cieriv�d froni the oparation oz
sa�d seeuerage and water syste?r.s will be s�ufficient to meet all
expenses c�f operation and maintenance of the same, anci all char�;es
fo� the �ayment of princi�al and interest of said o�utstanding water
revenue bonds, ant� will �ermit to be set aeide in��e said special
fund an amount suff'icient to pa;� the ,�rzncipal and interest of the
bonas hereby authoriZeu as the same shall beco�e du�.
Tha City of' Rentcri covenants and a�rees to and with the
holders of each ana everyT one of saia .bonds, in �Lhe event such bonds
or any portion thereof be issued, to maintain in good condition and
operate said sewerage and water systems and to est�blisr and rr�aintain
such rates for water and sewer service as v�ill provide sufiicient
� -11-
. . + � � ^ . �. � �
� . .
r���-.,:_�.�� _: ;� �o produce the �ross revenues raquire3 to :�Zeot ti�e o�lioa�ions
of sa�d City as herein set .for�ch, �i�he saici Cit��Y of zenton fUrthar
covenants that �t �n�ill �rou..�tly, by ordinance of fonr_ approved '�y
Preston, ihcrorimson, Turner, ��orowitZ c�� �te�han, attorneys, of
Seattle , ;i�ishington, enact a rate orc�inance ic�° t'r�e seweraoe service
� to +�a f�l�nished by the said sewer systa��, and will, in such rate
ordinance, provide an initial ��ate oi Seventy�-five Cents per rnonth
for suc�z se��verage servic� for each resic�ence unit, and the rates f'c�.
se�cer service chargec� to the l��nton riousin� �.uthority shall at no tiule
be less l�ar residental unit than a charge for like service to citizens
of Renton.
Section 8. Said bcnds shall be scld at private sale in
such manner as shall be hereina?t�r �rovided by resolUtion of the Cit�
Council and the of ficials o�' the saia City of Renton are hereby
aU��.�oriZed and c�irecte�. to cio everythin�; necessary for the issUance
.
and sale of said bon.ds and th� construction of the improvernents izere-
inbefore �rovidec� for.
Section 9. �11 expen�.�tures �eretofore ma���e and acts done
�ursL;�.ri� �� �r e Nrovis ions of the saici Ordinance No. 1156 andlor
�ursuan� i�o the said ord�nance heretoi ore passed amendin� said
Ordinance No. 1156, are hereby ratified and ap�roved.
Section 10. This ord?nance shall �o into eff'ect �'ive days , -
after its passabe, ap�roval and ;�ublication as required by law.
PASSLD by the City� of Renton, and a;�provad p� the Trayc_:
�'_�is 2nd �.a;y� o�� 1,�arch, 1�-43.
�I�'Y OF RLIvTOa��
��,
--� .�;�.,_ . i;;a�o�
�
Ci t . Cler� �� ��
rt;�:;l�t�_�d __� , 1�43.
T.__
_i �_