HomeMy WebLinkAboutORD 1158 �+ �_. � �� �.{« _ .,.-,,. .�,�� f ' !�
RT/BF 6-22-42 5
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QRI}�NANCE NO.�L�y�
AN 4R�INANCE of �Y�, City oF Ren�on., �ashington, provid3.ng
for a minimum charge for sewerage services, providing ^
for the retiramen� 4� water revenue bonds out of sur-
plus earnings of the municipal �atsr and sewa e �ystems,
and providing �or and con�irming the sale o� �4QQ,0£?0
of wa�er revsnue bond� c�f said Git�.
VfTHERE,AS, by Ordinance No. 1156 of the City of Rentdn, passed
an�d approved the 9th dag of June, 1942� said Citg provided for �he
issu�ce o� �400*444 af water revenue bonds and further provided for
the eall for bids for �h� pureh�,se of the same; and
I WfiL+'RE.A3, B2y�h & C a. In�, of �e at�1 e, V�ashing�oz�, and aa so c i at e s I
have submit�ed �, bid requir3.ng ��e Pulfillment af cer�ain eonditions by I�
aaid Gitg, �hich bid and �ha cond3tions thereof' are sati�fac�ar� �o �he
' City, �
F B I T 4R33AIl�TEED B3� TH� C t3Bi3'C ZL �F T�i3� CITY OF
NGl�id, 'IFiERE QRE, E
REN�i�T AS FQLLQW�:
�ec. 1, The Citp of Ren�on hereby agress tha� as long as
there shall be any of the above described bonds outstand3ng, tne C���r
will charge �he swn of at leas� seven�y-�`ive eents per mon�h for .all
sir�gie sewage connee�ions, �hether the same be �3.�hin or �rit�out the
lim3.ta of said City: Said Ci�y fur�her pledges �hat if the U�.ited I
States gaverr�ment or any� branch of th.e Federal Hausin, �u�hority, for I
any uni�s of any Federal Housin� Pro�ect, pags said City a luinp sum
for a�her municipal servi�es� including ss�erage service rendered by
the C3t� o�' Rentan, that t?ae �i�y v�3.11 deduct Proin the amount so pa�.d �
by the gaverrnnent 4r �he Federal Housing Authority a sum equal to • I
sebent�r-five cen�s per mantY�. per un3.t rece3ving such sev�eraga serv3.ce,
�,nd pag �he �ame into the ���enton, 1942, �'Yater Revenue Bond Redemp�ion
Fund�t. I
�ee, 2. The Ci�y of Ren�on further agreas and pledges that it j
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wil3 apply all surplus earnings of the munieipal �rater and sewerage
systems, including all additions and egtensions to eaeh, to the
payment of said bonds according to their maturit� sc}a.edule and their
call option, except for sueh eha,rges upon said revenues as heretofore I
made in .�ec. '� of Ord3.nance 1156 of said Cit�, and except for such
charges as may be necessary to maintain a reasonable amoun� of money
for working capital of said spstems, and except for such charges as
ma�r be necessarg for the cons�ruetion of any sound m3.nor econom3c
egtensions to said systems, bo�h as may be determined by sound business
practice.
See. 3. That �he sa].e oP sa3.d bonds aecording to the offer
made by the City of Ren�on to Blyth & Co. and associates on June ,
18, 1942, and �ceording to the terms of the acceptance of sai.d offer by
said purchasers, as se� forth in their le�ter of acceptance dated
J'une 19, 1942� is hereby in all re�pects ratified and aorifirmed, arul
t�.e Mayor and Clerk of �Ghe Cit� are hereby authorizad and directed
to execute said purchasers acceptance letter. The authorities of said II
Cit� are herebg authorized and directed to do everyth3.n.g necessary Por 'I
the iasuance and deli�ery of said bonds.
�ec. 4. This ordinance s�al2 go into effect irnonedia�ely upor�
its passage, approval and publication as required b�r law. �
PAS�D b9 the Council of the City of Renton and approved by-
its Mayor this 23rd dag of June, 1942. �
CITY OF RENTON, ,
B�J' c�J Gi(/, � ��2'�f?�L�
M a y o r
Attest; �
3. Clerk � �'
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f � s, � ���
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