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HomeMy WebLinkAbout0901ORDINANCE RO. / . AN ORDINANCE authorizing the issuance and sale of local im- ;provement.bonds for Local Improvement District No 128, to pay the cost and expense of the improvements in said district as ordered and provided for in and by Ordinance No. 870, approved and adopted May 43, 1929, en- titled, "An Ordinance ordering and providing for the construction of .trunk and lateral sewers in and along the following described portions of streets in the City. of Port Angeles, Washington, to wit: A trunk sew- er beginning at the Port Commission's Bulkhead at the north, end of Tum- water Street, running., thence'eouth along Tumwater Street to Fifth Street; thence westerly on Fifth Street to A Street; thence south along A Street + o approximated -the center line ofT enth Street,`together with lateral sewers,sufficient to serve the following described lots and blocks in the City of Port Angeles: Lots 11 to 20 inclusive in Block 98; all of Block 99, Lots 2 to 14 inclusive in Block 100, all of Blocks 101, 102, 106, 107, 108, 109, 112.,.156, 157, -158; Lots 9 to 12 inclusive in Block 159; Lots 9 to 12 inclusive in Block 238; all of blocks 239,240, 241; Lots 1 to-5 inclusive, and Lots 11 to 20 inclusive in Block 242; all of Blocks :257, 258, 259, 260; Lots 9 to 12 inclusive in Block 261; Lots 8 to 10 in- clusive in Block 298; all of Blocks 299, 300, 301, 302, 317, 318, 319; Lots 3 to 16 inclusive in Block 320; all of Blocks 352 and 353, all of said lots and blocks being located in the original townsite of Port An- geles; together with the manholes; flush tanks, catch basins, cages and other equipment necessary and suitable to complete the said improvement, t creating local improvement district No. 128; and providing for.the pay - meat of-the cost and expense thereof by special assessments upon the pro - perty within the said district according to law and by the mode of 'pay- ment by bondst, all in accordance with improvement Resolution No. 128, of the City of Port Angeles, and In accordance with maps, plans and spec- ifications, prepared by the City Engineer and approved and adopted by the City Commission. ..� THE CITY COMMISSION OF THE CITY OF PORT ANGELES DO ORDAIN AS FOLLOWS: Section 1. 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. 128, of the City of Port Angeles, created under Ordinance No. 870, approved May 8, 1929, and in accordance with the laws of the State of Washington and the ordinances of the City of Port Angeles in the sum of $28,056.25. Section 2. 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 denomina- tion of $300 " - each, except bond numbered one, which shall be in zs the denomination of O th , and they shall be each numbered con- secutively from one upward, and each.of said bonds shall hale attached thereto interest coupons for each interest payment and each such bond and the coupons 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; pro- vided that said coupons in lieu of being so signed, may have printed thereon the facsimile of the signatures of the Mayor and Clerk; and each of said bonds shall refer to the improvement and the oridinene ordering - such improvement to pay for which said bonds shall be issued; and each of said bonds shall provide and state that the principal suns therein named, and the interest thereon, shall be payable only out of the spec- ial fund created for the payment of the cost and expense of said improve- ment, and that no 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 Washington in such cases made and provid- ed and particularly those statutes providing and directing that the City of Port Angeles create a local improvement guarantee fund for the pur- pose of guaranteeing, to theextent,of such fund and in the manner pro- vided by the law the payment of local improvement bonds, issued to pay for local improvements ordered by the said City. Section 3. 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 Washington, and the ordinances of the City of Port Angeles, as in such docases made and provided, and that said bonds, when so lawfully' executed and issued shall be placed in the oubtody of the City Treasurer and by her delivered to the purchaser or purchasers upon receipty herof the amount contracted to be paid for the same not`less than their par value • • and accrued interest. % Section 4. Said bonds or any part of them may be sold or ex- ohanged for the warrants issued in payment for the improvement for which they shall be issued, or may be sold to any purchaser for clash at not less than their par value and accrued interest, and the proceeds there- for shall be applied to the payment of the cost and expense of said im- - provement. Section S. That said bonds shall be dated the 18th day of Jan- nary, 1930. Section 6. This 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 tp cause the same to be so published. Passed first reading by the City Commission, January, iy, 1930. .Passed second reading by the City Commiesion,lebruary .5, x1930. Passed third reading and finally passed and adopted by the City Commis- Sion, February , 1930.. Approved and signed by the Mayor thiar j day of February, r 1930. yor. ATTEST:. City Clerk. v k' deft . Approved as to form: Ci y Attorneys. Description approved: c i= C ty xngineer. Published cz==r 1930.;