HomeMy WebLinkAboutORD 0814 � . . � . , � � � «
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ORDIN��C� '`iC._�����
AN CRDIIVTh1�CE+ OF iHE CITY OF RENTON AUiHORIL INC i'i i�
�fiAY01� .h�sD C I'i'Y LCERK TO I SSUE �CNDS AGl�INS i LO CAL I��OV�+'T':'yi�T
DISTRICT �0. 163� GF SAID CIi'Y, P�OVIDING FOR �HE I�=TE CF
INT�:�Si SAID I30NDS SIl1�.L BEA�, i� DAi� CF iF�IR I��UE A.i:�
ii�IR F'�:A�tT�I iY �IvrD �UiHOR I Z IT1G 'FHE IR S1�.LE CR DEL IjT!��Y ^C `'���
CGN`iR�CiCR T.�°.�KI3TG iI-� I��'ROZ�'���2Ti IN SATD DI ST�?I��.
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City of Renton be �nd they �.re hereby authcrized �.nd directed
to execute and issue local imprcTreraent bond� wgainst Loc�i
lmprover�ient vistrict Nurnber 163, of the City cf Renton, and !
the yc;roperty included therein� wric:� district tir�s cre�ted
by Ordin�:.nce Number 807, of the City of Renton, in �ne
aggre��te sura of Nine Hundreu l�irie,ty-��,�u0- 'wnd 55�100
u
yollGrs ;�'�9��.5�,) .
Sectian 2: Said bcnds shall be in dencrnin�:ticns
as folle�� :
Bcnd numbered 1 to 'ae i or �,92.55 ��nd bond: 2 to
�p both inclusi�re, shall be for the surl of One Hundred
i�ollars (�100.00) each.
Said bonds shall be issued orL or �.fter the ��
day of _At?�us t , 1927, and shall be ���.;��.ble cr? or bef'ore
sever. years a.fter the date of their issue.
ihey whall bear int.erest z.t the r=:te ef eieht (8)
�er cent per annum from the d�te of their issu�nce until
called for y�a�yraent by the ireasurer of e�.id City, vrhich
in;erewt sha11 be p�yable annually and shall be e�ridenced
by ccupons attached tc sa.id bonds , one coupon for eac�;
.lp. � .y � �;l' '
., ��.� � �. _•e:1:, .:�ll c.f ,:,_.... .,_� �u.yc. cou,�b._.. .:�: ::11 :� . .���� �c ,.
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tc the �erm:� �:.nc� ccn;iticr�s c� '�-:�e bor:� i,c� t,ai�ic�l �:�e ti_�_e _
are attG.cned and if any bond shall be called for p�.yi��:��r.i�
before the rr�turity of any ccupnn that Lnay be �ttached
thereto the said coupon shall become �cid. I
Sai d b onds shall �.ls o c cn tain a n ot ic e of all
of the facts reauired by st��tute to be inserted in the f wce
of the bonds.
�ection 3: Tne vonds issued upQn the pro�riNicns of
i.��i� ordin�.nce may b� sold for cash at not less than p�.r
�r�.lue or may at the election of the City be issued directly
,c '�;.� cc��vr�.ctcr _.,.�1Lin� the improsrement in said districti
c_eliT�ered_ t.0 �F�rr_ '_�y �:le City Clerk im.nle�iatel;� upon their
issue, upon the surrender by nim of ;rrarrants issued against
said local improvement district in an amount equal to the
bonds tio deli�rered.
'�eetiQn 4: ihis ordinance shall be effecti«e
�ive (5� day s from and wf ter its pas sage , appro�ral and
�ae���l public��tion as by law presriaed.
r�.ssed by �:he City Council of the City of .
�en�on, ;;'�.shin�ton, August � , 1927.� `
.�p�rojrzci by tYie ���.yor this � day of Au�ust, I927.
� � /�
Mayor.
ATiEST: ,
City �l�r'�. 'i
�1PPR0�D AS T0 FCRT�Z: �
���� ��� -_.� �-
� City Attcrney
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