HomeMy WebLinkAboutORD 0950 ` >. ` r .
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OR]?IN'�TG� N0. 950
AN OI3DINANCE OF THE Cl2Y OF R�TTON, AUTHORI ZING �iE
�dAYOR �D CTTY CI�K TO TSSIIE BOAIDS AGAI�ST ZOC� IME'ROV�ENT
DISTRICT N0. 182, OF �AAID C�TY, PROVIDING FOR THE RATE OF
INT�ST SAID I�OND� SHAI,L BEAR, Tf3.E DATE OF �iEIR ISSUE kND
T�i�IR MATURITY A�6D AUTHORI�IIdG �R SALE OR DELIV�Y TQ THE ,
CODtTRAGTORS �KING THE IMPROV�7�tT IN SAID DISTRICT.
THE C ITY G OUI�IZ dF THE �I TY OF REI�TON DQES ORDAIN AS
FOZZOWS2
�eation 1: That the 1Vlayor arid. tl�e �ity Clerk of the
City o�' Rentor� be and they are hereby authorized and directad
t o egeeute �n�` is sue loc al impro v�me n� bond s agains t Loe�al
Improvement �istriat No. 182, of the City of Renton, and the
p�operty included therein, whieh di�triQt �as created b� Or3�-
i.nanae No. 94$ of �he City of Rer�ton, in the a.ggregate sum of
One hundred forty-nine 8� 35�100 (�149.35} Dollars. � �'
Section 2: Said bond� �hall be in denominations as
follows;
Band number 1 shall be �or the sum of Forty�-nine � 35�100
(�49.35) Dollars.
Bond number 2 sh al l be fa�r #•Y�e swm of One Hundred (��00.00)
Dolla.rs.
Said bonds sha�ll be issued on or before the lOth day 'of
January 1935 and �hall be payable on or be�ore seven years after
date of their i�sue. ' .
They ahall bea� interest at the rate of seven (7} per
eent per annum from the date of their issuanae until �alled for
payment by the Treasurer of saic� ci'�y, whi�;h interest sha11 be
payable annually and shall be evidenaed by �oupons attaehe3 to
� said bonds, one coupon for each yearts intarest, all of which
said coupons shall be su.bjeat to the �erms a�d eonclitions af the
bond to which the s ame are attaohed and if th� bond shall be '
I I
e � g �
�2.
called far pa�rme�t �e�ore the matu.rity o� any cougon that ma,y
be attaahe d th ereto th e �aic� aoupon sha�l b eaome vo id.
Said bonda s hall also �on�ain a notiae of a�l of the
faats required by statute to be inserted in the face of the
bonds. ,
• b nds issued. u on t,he rovisions of
Section 3. The o p p
this or�inanea may be sold for Qash at not l�ss than par value I
or may &� the eleation o�' t�ie Ci�y be issu.ed eli.rectly to the
csontracstor making the improver�:�nt in said distr�.at, c�slivered.
to him by t�e �ity Clerk immediately upon their issue, upon �he
surrender by him o� warrarits issv.ed against said locat impirove- I�
ment districst in �.n. a�€ount equal to the bonc3s so deliversd. II
Seation 4: This ordinanae ah�.l be effeative �'ive (5}
days from and after its pas�age, appro�al and lega� publiaa�ion ,
as by law pro�ided.
Passed by the City Couna�l of the City o� Renton, Wash�-
ing�on, Januar� 15th, 1935.
Appraved by the ;�a4y'or this 15th day of January 193�.
,
fi /
��,j_�.�::�d"�` ;m=�
1�a o r
Attest: ��I�� �
Gity Cle rk
Approved as t� form �
rL.-Uv G'
City ��tto�:n�y. I
i,ate of first ,�a�lica.-�i��: Jany. 18, 1935.
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