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�or the purchase of aboUt t�o acres of ground on the north side o�'
Cedar Ri�er and lyin� to the East of t3�e extension of �'dilliams Street
an� between the right of v��ay of Corm�e rci al �aterevay ➢is trict No. �,
�d� First �venue North aa�d far the remo�al sand re-bUilding o� thz
bri cTge across Cedar Ri�er, at a point opposite t�e no rth end of
;�illiam� Street 8o as to eross the ri�er at right aagle� with �Ghe
channel of the wr�terway an.d provi di�g a special ele ction that t}�e
vo ters of the City of Renta�n, St�te of �'�ashington, may vQte far �r
ag�,inst the issuance of bands in: the a�ount of Five Thous �d(�5UC}0.�0j '
�01la rs.
�EI� CI TY �OUNCII, OF THE CI TY OF t��1'�O�I, �x�SHIi��GTON, DO
OK�xil1 �� FOI�Oi�`�S:
3ection 1: That on tl�e 7th day of �ecember A. D.
1920, in the Gity of Rentnn, Countyof ging a�d State of Washington,
�ursUant � tl�e pro�isions of Section� 8085 -8�53 Remington's �ode and
�ta�Utes of 4Vashingtan, there will be held � special eleetion in the
Cit� o� R�ton, ��'ashington, in order that the voters of said Cit�r
r�ay at said elect3on vote for , or against the proposition so authoria-
ed in s aid �ity of Rentc�n, to issue bQnds in the �m of P'i^�e Thous �c�
( y 50�0.�0) I3ollars for the purp os e of pur chasing about tw� (2 j acres
of l�and on the north side o� Cedar River and E�at of Willia.ms Street
�.:; the s ame is nav open ana lying betavee� First Av mu e North �d the
right of way o� Commercial :iater�ay District No. 2 , and for t33e pUr-
�o.�e o� remov�ing a�r:d re-building the �►ooden bridge acrass Gedar River
�.� �illiams Street, to a point east and apposite the narth end of
Mdillia.�s Street so as to earr3� the same at right �:gles at the center
li�e o f �he channel of Cedar Ri�er as nov� cons truc ted, all of which
is to '�e d��e at an estim�.ted cc�st of Five Thousan3 (�500O.�J) �ollars.
Section 2: The plan �ra�osed b�r saic� Gouncil of the
�it� o � �.er.ton, ixt reference to the same is as follows, tQ=��= it:
Ta acquire by purehase or condemnation all that; land I
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lying north of the ri�ht af ���,� o� CoR�^,e-rci�.l ':�:�ter:.ay 1�isfirict
iJo. 2 north of Cedar Rive�, .�'�ast of i�illiams Street aud So�th
of First Avelue North at ar es'�i�� ted c� o�� o� €._uout :-.i`h�eer_ ?�4;r.-
dred f�1800.��} Dolla rs.
To remave and re-build the pr��ent bridge �t a point
eas-� o� where it is naw located across Cedar Ri�er on �'�illi�,s�
, Street to a point opr�osite the north end of �1'illiaffis S�reet anc�
oarry the same across Cedar River at right angle� at the center
line of the channel as no�a est�b:li�hed at an es�imated cost of
Three Thous�d.(�3000.00)I3ollars and �. 11 a� a� es vi�tec� �st of
P'ive Thousand��5000.00) �ollars.
Seation 3: T}�t sa3d election sha11 i:e held in acco-rd.-
anee �i th the general la�rs �f the State of kdashington �d �rdinances
of` th e Cit y of RentQ�n; that at saic� e}.e cti on t3�e polls wi 11 be open
at the regular polling place� in the City of Renton, t'�'ashington, at
8o'elock A. �if. on the '7th d�y af T3eoember 192A and closed at 8 P. i�.
Each vo�er wha sha11 vote i.n favor of authorizimg the city
to is�ue bonds in the sum of �ive Thousand (�5000.�0� �oll�rs, for
8equiring �aic� lanei and re-build ing of said bridge as set forth in
this Oxdinance will vote a ballot cont€�ining the �vords, ��Shall the
�ity of Rent�n issu e bonds in. the s�um of I�ive Thous�d (�5000.�0)
IDallars �or the purpo�e of buying the land and re-building �'�illi�zr.s
Stre et bri dge as s e t f ar+h in �x°di n�,n ce i7o. 5�6 of the Cit J o�'
Rentan." Yes.
La.ch voter who shall vote against said �roposition s7�.11
vote a ballot oontaining the �aords , "Shall the Cit;� of Renton issue
bonds in the sum of Five Thous a�a (�5J0�.00) Iyolla rs fo r bu�ing s aid
l�nd and for re-build ing �illiams Street bridg� as set farth in
Ordinanee l�o. 5�6 of said Ci�y of Rmton. 't No.
Section 4: The City Clerk of the �ity of �entan, r;��.sh- '
ingt�n shal l gi�e noti ee of sp eci al el ecti on �u �-,�d-� �a��in;' ���-�-�i �P
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ther�of �`ar � pzrio�_ of ts�o t.eeks i�. t�ie ���"�ci �i ne��s��.r�r o� the
�ity of �enton, to-r,vit: R�nton Bul.letin, by causing sai�3 notice
to be pUblished in fUll in each issue of s aid paper for s aid �;eri o��
af t�ro T,�e ek.�.
Section 5 : That if thxee-fifths oi the r,u�liii �d
vaters o� the City o� Renton, voting at saic� election, �ote in
�a�or o� authorizin� the City of Renton to issue bonc�s in the su�n
o� �ive Thous�d (�:J00.00y ]�oll�rs to be expended in the ma��er
��r avic�ed by this Ordin�nce , the 11��yor �d City Couneil o�' {h�
Git�r of Renton shall be and they are hereby «u�hor� zed t� nG,ve
pxinted a�d e�graved bonds of the �itg in th� �::r� of �'�ve Tno�a�a�d
(�50Q0.�0) �oll�,rs , an� shall be entitled, "R�tTON ROAI3 AND� �SD�E
*�I� �`n i1
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�ai� bands shall be payable in ten years after the
i�su �ce ta or bearer at the of�'iee o�' #�iie
Gity Treasnrer of saic� City, sh�ll bear interest �t the rate of not
�ore t�an s even ( ?) per eent pe r �nnum and ha�e �ttaehed th,e reto
semi-annual ooupons , paya�le at the of�'ic e of the Treasurer o � the
�it� of Ren ton, on the first da;� of ��uary and Jul.y, � emi-�.�nually;
s�ad bonds shall be issued under the seal of said Ci�;� in denomina-
t ions of not le ss than One Hurr�red (�1�0.��) Dolla rs nor mo re t'rjan
Five Hundred f���0:��0� Doll��s and shall be numbered frvm one up
canseeUtively, shall �aeax the c?ate of its is�a mlce and shall be
r�g1 stered by the City Clerk in a book �o be kept especially for
�ri:�t pur^�� e.
Seetio� 6 : To provide far the pa�ment of interest
an said bonds, there is hereby levied snd �.ssessed, set apart and_
s�ecifically ap�opriated an annual tag of not to ��ceed two mil�s
on each dollar of pzro�erty, real, personal anc� mixed, �,.ithi� t�.e
(:ity of Re�.tan, no� exempt from ta�es under the canstitzat ion of
thi� s t4�t'e , such taxes to be assessed� beco�e due anc� collected. an-
r�ually
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u�.ztil the principal anct interes� of s aid bonds are fully pai.�. up an.d
c�iseharged as other taxes are levied and colleete�. far general mnnici-
pa� pUrposes. -
The sum so raisecT to be applied, first, in payne�nt a� the
�ur.�nual interest ch�rge and the Ua7.ance to be used as a sinking fund
and applied in the redem�ot ion of bonds; said ba-nds to be ealled by
tlae treasure� an� p�id as fast as there is su fi�cient money in the
treasury to redeem sny of said bonds.
Section 7: It shall be the duty of the city treasurer
to place all monies collected and received �ram the ta$ l�vy to pay
the interest on said. bonds as #;he same accrues tQ the eredit of tr�
interest fund of said bonds arid after the tax sh�ll be levied and
cc�llected as herein provided to pay the interest and prineipal of
Y
' sai� bonds at maturity, i� shall t}�e� be the dUty of the tre�surer
c�- � to place a�.l s�zch monies co lle cte3 and received from the taxes levied I'
to psy the interest �nc� principal of said bonds at maturit� to the I
credit of eaeh o� s�i� bon�s separately.
Section 8: That the said council sha11 eause� the said
si nking �nd an d all acere tions �h ereo n to be investe-d at any ti me
or t imes, not less than sig months prior to �he maturi ty of sai� '�
bonds in an� interest bea�ing bonds of the IInited States or of the I
State of ��lashington or in any other securi�ies in which its in�est-
ment me.y be a�u thorized bs a general law of the state, in whi�h case I
all o#' ii�e interest or premi�am that m�y be realized on any �u ch in-
vestment as well as principal thereaf, shall be eredit�d to snch
sinking fund.
Section 9 : Saic� in�erest and sinki� funcl are hereby I
made speci al funds for the speci al purposea he rein nemed and shall be I
disbursec� only for the purposes for �rhich the�r are �especitvely
cre8ted, and any officers of the ci�y mis-applying the fnnds shall bQ
ga ilty of a misdemeanor and shall be �ine d in any s�m not exceeding
�;zp Nu�e�xe� C�10!�.00 ) �l?_dre �a^.� i�rri�cnec�. in +nP cit�r jail f�r
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:�.ry term r...��y �x::��uin� tiii-rt;� (�� � ��.ys.
�ection 1�: That the Mayor of the said city and.
��e Ci�y Council of the City of Renton, Washington, are hereby
�ar.�noned to negotiate and sell �la.e bonds s�a thori zecl to be issu ed
by this 8rd.i��Qe, provi ded, howev�er, thst none of the s aid bonds
+� �� issued sh�ll be solci at less than par and the proceeds
:, hereof shall be used �or no other pUr�pose th�n tha� contem-
�:��_�:�ed by this Jrdinance.
aection 11: �t �hall be the duty o�' the Cit�
:il�rk to no�e upon the face of each bond as well as on the
register of the s�me the purpose for �hich said bonds �ere is�.�ea
to�rit: "far acquiring la.nd and right of way and re-building of
rlilliams Stree� bridge."
Sec. 12: This Ordinan,ce sha11 be in �ull foree �nd ef�ect
fi ve days �xom amc� after its passage, �ppr o�cal and legal pub� i
lication.
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gppra�ed this � ds�r of , 192� s ,
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Passed this day of `, 1920.
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6pproved a,s o form4
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�it�r �,�-�;r:cx�e�v,
����b��.�h�.�� , �°�;�g