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ORDINANCE NO.Ilo .
AN ORDINANCE authorizing the issuance and sale of Local Im-
provement bonds for Local Improvement District Pao. 118 to pay the cost
and expense of the improvements in . said district as ordered and provided
for in and by Ordinance No. 831, approved and adopted November 3, 1927,
entitled "An ordinance ordering and providing for the improvement of the
following described portion of the City of Port Angeles, and in the man-
ner following, to wit: The improvement of Oak Street from the northerly
margin of Front Street to the southerly margin of Railroad Avenue; Laur-
el Street from a point one hundred feet north of the northerly margin of
Front Street to the southerly margin of Railroad Avenue; Lincoln Street
from the northerly margin of Front Street to the southerly margin of Rail-
road Avenue; Railroad Avenue from a point seventy -five feet westerly from
the westerly margin of.oak Street to a point one hundred feet easterly
• from the easterly margin of Lincoln Street by removing the present old
trestle, constructing a bulkhead along the northerly margin of Railroad
Avenue, also extending back in a southerly direction on a line parallel
with Lincoln and Oak Streets to high -later line filling Railroad Avenue,
Oak, Laurel and Lincoln Streets up to approximately elevation plus 16.50
above mean lower low water; all work to be done and improvements made in
connection with the above described work which may be necessary, and all
the stork and improvements herein described to be in accordance with plans,
• specifications and maps prepared by the City Engineer, adopted by the
City Commission , and in accordance with Local Improvement Resolution No.
118; and providing for an enlarged local improvement district and for
payment of the cost of said improvement by special assessment upon the
property within said district according to law and by the mode of "pay-
ment by bonds".
Ti m CITY COdi';:ISSItN OF THE CITY OF PORT ANGELES DO ORDAIN
AS FOLWV S:
Section I. That the Mayor and City Clerk be and they are now
hereby authorized and directed to issue. Local Improvement Bonds for Lo-
cal Improvement 'District No. 118 of the City of Port Angeles, created un-
der Ordinance No. 831, approved November 3, 1927, and in accordance with
the laws of the State of Washington and the ordinances of the City of
Port Angeles in the sum of forty thousand six hundred eighty -three dol-
lars and twenty cents (040,683.20).
Section II. That the said bonds be made payable on. or before
twelve years from the date of issuance thereof and shall bear interest
at the rate of seven per centum per annum payable annually for said term
unless sooner called. Said bonds shall be issued in the denomination of
three hundred dollars (300.00),each, except bond numbered one which shall
be in the denomination of one hundred eighty -three dollars and twenty
cents (183.20), and they shall be each numbered consecutively from one
upward, and each of said bonds shall have attached thereto interest coup-
ons for each interest payment, and each such bond and the coupon shall be
signed by the Mayor and attested by the City Clerk, who shall affix the
seal of the City to each of said bonds; provided, that said coupons, in
lieu of being so signed, may have printed thereon the facsimile of the
signatures of the Layor and Clerk; and each of said bonds shall refer to
the improvement and the Ordinance order.iing such improvement to pay for
which said bonds shall be issued; and each of said bonds shall provide
and state that the principal sum therein named, and the interest thereon,
shall be payable only out of the special fund created for the payment of
the cost and expense of said improvement; and that rko• other fund of the
City of Port., Angeles shall ever be liable therefor, except so far as the
said City is made liable by virtue of the statutes of the State of Wash-
ington in such cases made and provided and, particularly those statutes
providing and directing that the city of Port Angeles create a local im-
provement guarantee fund for the purpose of guaranteeing, to the extent
of such fund and in the- manner'provide4. by law the payalent of local im-
r: • 4
provement bonds issued to pay for local improvements ordered by the said
• City.
•
Section III. That the form and mode of issuance and the execu-
tion of said bonds shall be as prescribed by the laws of the State of
':ashington and the ordinances of the City of Port Angeles, as in such
cases made and provided, and that said bonds, when so lawfully executed
and issued shall be placed in the custody of the City Treasurer and by
her delivered to the purchaser or purchasers upon receipt by her of the
amount contracted to be paid for the same, not less than their par value
and accrued interest.
Section IV. Said bonds or any part of them may be sold or ex-
changed for•the warrants issued in payment for the improvement for which
they shall be issued, or may be sold to any purchaser for cash at not less
than their par value and accrued interest, and the proceeds therefor shall
be applied to the payment of tle cost and expense' of said improvement.'
Section V. That said bonds shall be dated the 1st day of Decem-
ber, 1928.
Section 'VI. , `Shis ordinance shall be in full force and effect
after its passage and approval, and from and after five days after its
lawful publication; and the City Clerk is hereby directed to cause the
same to be so published.
Passed first reading by the City Commission, December 12, 1928.
Passed second reading by the City Commission, December 19, 1928.
Passed third reading and finally passed and adopted by the City Commis -
sior ',( D'eceinber 19, 1928.
.
App o ed and signed. by the 11ayor this I day of December,
1N28;
AT ST
ity C fo
Approved as to form: m: k
Description approved:
Adff
yor.
City 14torneys.
City Engineer.
Published, becember.4 6 , 1928.
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