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HomeMy WebLinkAbout1449P‘. CITY OF PORT ANGELES, WASHINGTON ORDINANCE NO. /9,Y7 AN ORDINANCE providing for the issuance of $2,000,000.00 par value of "Water Revenue Bonds, 1960," for the purpose of obtaining the funds with which to pay the cost of carrying out the system or plan for making additions to and betterments and extensions of the domestic waterworks utility of the City, as adopted by Ordinance No. /yyy; fixing the form, date, maturities, maximum interest rate, covenants and terms of said bonds; and providing for the calling of bids for the public sale of $1,700,000.00 par value thereof. WHEREAS, the City of Port Angeles, Washington, by Ordinance No.iyyy, passed by the City Council and approved by the Mayor on the 3rd day of December, 1959, specified and adopted a system or plan for making additions to and betterments and extensions of the existing domestic waterworks utility of the City, and authorized the issuance and sale of water revenue bonds in the amount of not to exceed $2,000,000.00 par value to provide the funds with which to pay the cost of acquiring, con- structing and making said additions to and betterments and exten- sions of the domestic waterworks utility of the City; and WHEREAS, the City Council deems it to be in the best interest of the City that the entire $2,000,000.00 par value of authorized water revenue bonds be issued and sold to provide the proceeds necessary to carry out said system or plan, NOW, THEREFORE, BE IT ORDAINED BY THE MAYOR AND CITY COUNCIL OF THE CITY OF PORT ANGELES, WASHINGTON, as follows: Section 1, For the purpose of obtaining the funds necessary to carry out the system or plan for making additions to and betterments and extensions of the existing domestic waterworks utility of the City, as adopted by Ordinance No. )4 f • There shall be issued and sold X2,000,000.00 par value of "Water Revenue Bonds, 1960" (hereinafter called the "Bonds "). The words "waterworks utility of the City" shall hereafter mean the domestic water system of the City solely and shall not be deemed to include the Elwha Industrial Water System. The Bonds shall be in denominations of 01,000.00 each; shall be numbered from 1 to 2,000, inclusive; shall be dated January 1, 1960; and shall bear interest at a rate or rates not to exceed 6% per annum, interest to be paid semiannually on January 1st and July 1st of each year, interest to maturity to be evidenced by coupons to be attached to the Bonds with full obligation on the part of the City to pay interest at the same rate or rates from and after the bond maturity dates until the Bonds with interest are paid in full. Both principal of and interest on the Bonds shall be payable in lawful money of the United States of America at the office of the City Treasurer of Port Angeles, Wash- ington, solely out of the "Water Revenue Bond Fund, 1960" (hereinafter called the "Bond Fund "), created and established by Ordinance No. )'/I 1, and the Bonds shall be a valid claim of the holder thereof only as against the Bond Fund and the fixed amount of the revenues of the waterworks utility of the City pledged to such fund and shall not be a general obligation of the City of Port Angeles. The Bonds shall mature serially, annually, in accordance with the following schedule, to wit: Bond Numbers Amounts Maturities 1 to 45, inclusive $45,000 January 1, 1962 46 to 90, " 45,000 January 1, 1963 91 to 1110, " 50,000 January 1, 1964 141 to 190, " 50,000 January 1, 1965 191 to 21i5, " 55,000 January 1, 1966 246 to 300, If 55,000 January 1, 1967 301 to 360, " 60,030 January 1, 1968 361 to 420, it 60,000 January 1, 1969 421 to 485, " 65,000 January 1, 1970 486 to 55o, " 65,000 January 1, 1971 551 to 620, " 70,000 January 1, 1972 621 to 690, " 70,000 January 1, 1973 691 to 765, it 75,000 January 1, 1974 766 to 845, " 80,000 January 1, 1975 846 to 925, " 80,000 January 1, 1976 926 to 1010, it 85,000 January 1, 1977 1011 to 1100, " 90,000 January 1, 1978 1101 to 1195, " 95,000 January 1, 1979 1196 to 1295, " 100,000 January 1, 19$0 2 i 41, Bond Ndmbbers (Con-bid) 1296 to 1400, inclusive 1401 to 1510, 1511 to 1625, 1626 to 1745, " 1746 to 1870, 1871 to 2000, Amounts :;aturities 0105,000 January 1, 1981 110,000 January 1, 1982 115,000 January 1, 1983 120,000 January 1, 1984 125,000 January 1, 1985 130,000 January 1, 1986 Section 2. The City of Port Angeles reserves the right to redeem Bonds numbered 1701 to 2000, inclusive, of a total par value of 0300,000.00, maturing January 1, 1984, to January 1, 1986, inclusive, as a whole, or in part in inverse numerical order, on any semiannual interest payment date, at par, plus accrued interest to the date of redemption. The City of Port Angeles reserves the right to redeem Bonds numbered 1 to 1700, inclusive, of a total par value of 01,700,000.00, maturing January 1, 1962 to January 1, 1984, inclusive, as a who1 =, or in part in inverse numerical order, on January.1, 1970, or on any subsequent interest payment date, at par, plus accrued interest to date of redemption, PROVIDED, HC;EVER, that the City of Port Angeles reserves the right to re- deem said numbered Bonds solely from surplus earnings of the waterworks utility of the City as a whole, or in part in inverse numerical order, on January 1, 1965, or on any subsequent interest payment date, at a price of X105.00 per each X100.00 par value thereof, plus accrued interest to date of redemption in each case, said redemption price decreasing X1.00 per annum to par on or after January 1, 1970. Except as to any Bonds numbered 1701 to 2000 while owned by the City, notice of any call for redemption of any of the Bonds prior to their stated maturity dates shall be published at least once in the official newspaper of the City not less t';an thirty nor more than forty -five days prier to the call date. Notice of said intended redemption shall also be mailed to the principal. - 3 - • • underwriter who purchases the Bonds not less than thirty nor more than forty-five days prior to the call date. Interest on any Bonds so called for redemption shall cease on the date fixed for redemption upon payment of the redemption price into the Bond Fund. The City may purchase outstanding Bonds in the open mar- ket at a price not exceeding the price at which they could be redeemed on the next redemption.date. Section 3. The Bond Fund is hereby divided into two accounts, namely, a "Principal and Interest Account" and a "Reserve Account." So long as any Bonds are outstanding against the Bond Fund, the City Treasurer of the City of Port Angeles shall set aside and pay into the Bond Fund out of the gross reven- ues of the waterworks utility of the City, including all additions, extensions and betterments thereof at any time made, a fixed amount without regard to any fixed proportion, on or before the 20th day of each month, as follows: (a) Into the "Principal and Interest Account," beginning with the month of January, 1960, and continuing as long as any of the Bonds are out- standing and unpaid, an amount equal to at least one -sixth of the interest to become due and pay- able on the next interest payment date on all the Bonds then outstanding, and, beginning with the month of January, 1961, and continuing as long as any of the Bonds are outstanding and unpaid, an amount equal to at least one - twelfth of the prin- cipal of the Bonds to become due and payable on the next principal payment date. (b) Into the "Reserve Account," beginning with the month of May, 1960, not less than 2,300.00, and a similar amount in each month thereafter until the total sum of $138,000.00 shall have been accumulated therein, which total sum shall be accumulated by no later than June 1, 1965. The "Reserve Account" may be accumulated from any other moneys which the City of Port Angeles may have available for such purpose, in addition to using such revenues therefor. The City further agrees that when said required amounts have been paid into the "Reserve Account" it will, at all times, except for withdrawals therefrom as authorized herein, maintain -4- •;r 1 • those amounts therein until there is a sufficient amount in the Bond Fund, including the "Reserve Account" therein, to pay the principal of, premium, if any, and interest on the Bonds, at which time the money in the Bond Fund, including the "Reserve Account" therein, may be used to pay such principal, premium, if any, and interest. In the event that there shall be a deficiency in the Bond Fund to meet maturing installments of either principal or interest, as the case may be, on the Bonds, such deficiency shall be made up from the "Reserve Account" by the withdrawal of cash therefrom for that purpose. Any deficiency created in the "Reserve Account" by reason of any such withdrawal shall then be made up from the moneys from the revenues of the waterworks util- ity of the City first available after making necessary provision for the required payments into the Bond Fund. All money in the "Reserve Account" above provided for may be kept on deposit in the official bank depository of the City of Port Angeles or may be invested in direct obligations of the United States Government having a guaranteed redemption price prior to maturity or maturing not later than twelve years from date of purchase and, in no event, maturing later than the last maturity of the Bonds outstanding at the time of such purchase. Interest earned on any such investment or on such bank deposit shall be deposited in and become a part of the "Reserve Account" until the total required reserve amount shall have been accumu- lated therein, after which such interest shall be deposited in the "Principal and Interest Account." Section 4. The gross revenues from the waterworks utility of the City are hereby pledged to such payments, and the Bonds shall constitute a charge or lien upon such revenues prior 5 and superior to any other charges whatsoever, excluding charges for maintenance and operation, except that the charge or lien upon such gross revenues for the Bonds shall be on a parity with the charge or lien upon such gross revenues for any additional and /or refunding revenue bonds hereafter issued on a parity with said Bonds, in accordance with the provisions of Section 7 of this Ordinance. If the City shall fail to set aside and pay into the Bond Fund the amounts which it has obligated itself by this Ordinance to set aside and pay therein, the holder of any Bond may bring suit against the City to compel it to do so. Section 5. The City of Port Angeles hereby covenants and agrees with the owner and holder of each Bond at any time outstanding, as follows: (a) That it will establish, maintain and collect such rates and charges for water (and for sanitary sewage disposal service in the event that the sewerage system of the City ever becomes a part of the waterworks utility of the City) so long as any Bonds, and any additional and /or refunding revenue bonds hereafter issued on a parity of lien with the Bonds, in accord- ance with the provisions of Section 7 hereof, are outstanding as will make available for the payment of the principal and interest on such bonds as the same shall accrue an amount equal to at least 1.40 times the average annual debt service, both principal and interest, of said bonds, after necessary costs of maintenance and operation of the waterworks utility of the City have been paid, but before depreciation. (b) That it will, at all times, maintain and keep the waterworks utility of the City and all additions thereto and betterments and replacements and extensions thereof in good repair, working order and condition, and also will at all times operate such utility and the business in connection therewith in an effi- cient manner and at a reasonable cost. (c) That it will not sell, lease, mortgage or in any manner encumber or dispose of all the property of the waterworks utility of the City unless provision is made for payment into the -6 f • Bond Fund of a sum sufficient to pay the prin- cipal of and interest on all Bonds at any time outstanding, and that it will not sell, lease, mortgage or in any manner encumber or dispose of any part of the property of said utility that is used, useful and material to the oper- ation thereof unless provision is made for replacement thereof or for payment into the Bond Fund of the total amount of revenue received, which shall not be less than an amount which shall bear the same ratio to the amount of outstanding Bonds as the revenue available for debt service for such outstand- ing Bonds for the twelve months preceding such sale, lease, encumbrance or disposal from the portion of the utility sold, leased, encum- bered or disposed of bears to the revenue available for debt service for such Bonds from the entire utility for the same period. Any such money so paid into the Bond Fund shall be used to retire such outstanding Bonds at the earliest possible date. (d) That it will while any of the Bonds remain outstanding keep proper and separate accounts and records in which complete and separate entries shall be made of all trans- actions relating to its said utility and it will furnish the original purchaser or pur- chasers of the Bonds or any subsequent holder or holders thereof, at the written request of such holder or holders, complete operating and income statements of said utility in reason- able detail covering any calendar year not more than ninety (90) days after the close of such calendar year, and it will grant any holder or holders of at least twenty -five per cent (25 %) of the outstanding Bonds the right at all reasonable times to inspect the entire utility and all records, accounts and data of the City relating thereto. Upon request of any holder of any of said Bonds, it also will furnish such holder a copy of the most recently completed audit of the City's accounts by the State Auditor of Washington. (e) That it will not furnish any water (or possibly any sanitary sewage disposal service) to any customer whatsoever free of charge, and it will promptly take legal action to enforce collection of all delinquent accounts. (f) That it will carry the types of insur- ance on its utility properties in the amounts normally carried by private water companies engaged in the operation of waterworks utili- ties, and the cost of such insurance shall be considered a part of operating and maintaining said utility. If, as, and when, the United States of America or some agency thereof shall provide for war risk insurance, the City fur- ther agrees to take out and maintain such insurance on all or such portions of said utility on whth such war risk insurance may be written in an amount or amounts to cover adequately the value thereof. (g) That it will pay all costs of main- tenance and operation of the said utility and otherwise meet the obligations of the City, as herein set forth. Section 6. The Bonds shall be in substantially the following form: No. $1,000.00 UNITED STATES OF AMERICA STATE OF WASHINGTON CITY OF PORT ANGELES WATER REVENUE BOND, 1960 KNOW ALL MEN BY THESE PRESENTS: That the City of Port Angeles, a municipal corporation of the State of Washington, for value received, promises to pay to bearer on the 1ST DAY OF JANUARY, 19 , the principal sum of ONE THOUSAND DOLLARS together with interest thereon at the rate of PER CENT ( per annum, payable semiannually on the is ays of January and July of each year upon the pre- sentation and surrender of the attached inter- est coupons as they severally mature up to the bond maturity date and with full obligation on the part of the City to pay interest at the same rate from and after the bond maturity date until this bond, with interest, is paid in full. Both principal and interest are pay- able in lawful money of the United States of America, at the office of the City Treasurer of Port Angeles, Washington, solely out of the special fund of the City known as the "Water Revenue Bond Fund, 1960" (hereinafter called the "Bond Fund "), created by Ordinance No. This bond is one of a total issue of $2,000,000.00 par value of bonds, all of like date, tenor and effect, except as to maturities, options of redemption (and interest rates, if more than one interst rate is bid), all payable 8 from the Bond Fund and all issued by the City of Port Angeles under and pursuant to the laws of the State of Washington and Ordinance I7os. and of the City. Reference is made to said ordinance as more fully describing the covenants with and rights of holders of bonds of this issue. The City of Port Angeles reserves the right to redeem bonds numbered 1701 to 2000, inclusive, of a total par value of 000,000.00, maturing January 1, 1984 , to January 1, 1986, inclusive, as a whole, or in part in inverse numerical order, on any semiannual interest payment date, at par, plus accrued interest to the date of redemption. The City of Port Angeles reserves the right to redeem bonds numbered 1 to 1700, inclusive, of a total par value of 4,700,000.00, maturing January 1, 1962, to January 1, 1984, inclusive, as a whole, or in part in inverse numerical order, on January 1, 1970, or on any subsequent interest payment date, at par, plus accrued interest to date of redemption, PROVIDED, HOWEVER, that the City of Port Angeles reserves the right to redeem said numbered bonds solely from surplus earnings of the waterworks utility of the City as a whole, or in part in inverse numerical order, on January 1, 1965, or on any subsequent interest payment date, at a price of 3105.00 per each 3100,00 par value thereof, plus accrued interest to date of redemption in each case, said redemption price decreasing 31.00 per annum to par on or after January 1, 1970. Except as to any bonds numbered 1701 to 2000, while owned by the City, notice of any call for redemption of any of the bonds prior to their stated maturity dates shall be published at least once in the official newspaper of the City not less than thirty nor more than forty -five days prior to the call date. Notice of said intended redemption shall also be mailed to not less than thirty nor more than forty -five days prior to the call date. Interest on any bonds so called for redemp- tion shall cease on the date fixed for redemption upon payment of the redemption price into the Bond Fund. The City may purchase outstanding bonds in the open market at a price not exceeding the price at which they could be redeemed on the next redemption date. The bonds of this issue constitute a charge or lien upon the gross revenues from the waterworks utility of the City prior and superior to -9-- any other charges whatsoever, excluding charges for maintenance and operation of said utility, except that the charge or lien upon such gross revenues for the bonds of this issue shall be on a parity with the charge or lien upon such gross revenues for any additional and /or refunding revenue bonds hereafter issued on a parity of lien with said bonds in accordance with the provisions of Section 7 of Ordinance No. "Waterworks utility of the City" has been defined to mean the domestic water system of the City solely and does not include the Elwha Industrial Water System of the City. The City of Port Angeles has covenanted to establish, maintain and collect such rates and charges for water (and for sanitary sewage dis- posal service in the event that the sewerage system of the City ever becomes a part of the waterworks utility of the City) for so long as any bonds of this issue and any additional and /or refunding revenue bonds hereafter issued on a parity of lien with the bonds of this issue, in accordance with the provisions of Section 7 of Ordinance No. , are outstand- ing, as will make available—fEF the payment of the principal of and interest on such bonds as the same shall accrue an amount equal to at least 1.40 times the average annual debt ser- vice, both principal and interest, of said bonds, after necessary costs of maintenance and operation of the waterworks utility of the City have been paid, but before depreciation. The City further covenants and agrees to maintain in good condition and to operate the said utility and all additions thereto and betterments, replacements and extensions thereof and to establish, maintain and collect such rates for water as will produce gross revenues from the said utility sufficient to permit pay- ment into the Bond Fund of the amounts required for the payment of the principal of and inter- est on all bonds payable out of the Bond Fund as the same become due and the amounts required to be paid into the "Reserve Account" in the Bond Fund, and in addition thereto to pay all costs of maintenance and operation of said utility, and otherwise to meet the obligations of the City as herein set forth. It is hereby certified and declared that the bonds of this issue are issued pursuant to and in strict compliance with the Constitution and laws of the State of Washington and the ordi- nances of the City of Port Angeles, and all acts, conditions and things required to be done pre- cedent to and in the issuance of this bond have happened, have been done and have been performed as required by law. - 10 - • • IN WITNESS WHEREOF, the City of Port Angeles, Washington, has caused this bond to be signed by its Mayor and attested by its Clerk and its corporate seal to be hereto affixed and the interest coupons attached to be signed with the facsimile signatures of said officials this 1st day of January, 1960. CITY OF PORT ANGELES, WASHINGTON BY ATTEST: MAYOR CLERK The interest coupons attached to the Bonds shall be in substantially the following form: Coupon No.. On the 1st day of (January)(July), 19 , the CITY OF PORT ANGELES, WASHINGTON, upon presentation and surrender of this coupon, will pay to bearer at the office of the City Treasurer the sum of DOLLARS ($ ) in lawful money of fhe United States of America from the special fund of the City known as the "Water Revenue Bond Fund, 1960," said sum being six months' interest then due on its "Water Revenue Bond, 1960," dated January 1, 1960, and numbered CITY OF PORT ANGELES, WASHINGTON BY MAYOR ATTEST: CLERK The Bonds shall be printed on lithographed forms, shall be signed by the Mayor and attested by the Clerk, and shall have the seal of the City of Port Angeles affixed thereto, and the coupons shall bear the facsimile signatures of the Mayor and the Clerk. Section 7. The City of Port Angeles, Washington, covenants and agrees that it will not hereafter issue any water revenue bonds, or water and sewer revenue bonds in the event that the sewerage system of the City shall hereafter, pursuant to RCW 35.67.320, become a part of the waterworks utility of the City, or refunding water and /or water and sewer revenue bonds, which will constitute a charge or lien against the gross revenues of the waterworks utility of the City prior to or on a parity with the charge or lien against the same for payments required to be made into the Bond Fund, except that the City reserves the right to issue additional and /or refunding water and /or water and sewer revenue bonds, which will constitute a charge or lien upon the gross revenues of the wateporks utility of the City, including all additions thereto and betterments, replacements and extensions thereof at any time made, on a parity of lien with the Bonds if the following conditions shall be met and complied with at the time of the issuance of such additional and /or refunding bonds, to wit: 1. All payments. then required by this Ordinance and any ordinance hereafter enacted pertaining to the Bonds shall have been made into the Bond Fund and maintained intact therein; and 2. The revenues of the waterworks utility of the City for any twelve months out of the immediately preceding eighteen -month period, plus the additional revenue anticipated to be received from the proposed improvement in connection with which such additional water and /or water and sewer revenue bonds are to be issued, together with the increase in revenues reasonably anticipated to result from any change in the schedule of water charges (and /or sanitary sewage disposal rates if the sewerage system of the City is com- bined with the waterworks utility of the City) to be put into effect prior to the issuance of such additional bonds and after giving effect to any probable future increase or decrease in the costs of maintenance and operation of the - 12 -- • • waterworks utility of the City (including the sewerage system if combined with the waterworks utility) and to any probable future increase or decrease in gross revenues resulting from growth or shrinkage in the number of water (and /or sanitary sewerage service users if the sewerage system of the City is combined with the waterworks utility) are deemed sufficient, after the payment of normal operation and maintenance costs and taxes, but before depreciation, to equal at least 1,40 times the average annual principal and interest requirements of all then out- standing water revenue bonds and /or water and sewer revenue bonds, including the Bonds, and of the additional and /or refunding bonds pro- posed to be so issued. Such determination of the sufficiency of the revenues shall be made and certified to by an independent profess- ional registered engineer experienced in mun- icipal utilities and licensed to practice in the State of Washington; PROVIDED, HOWEVER, that if such additional bonds proposed to be so issued are for the sole purpose of refund- ing outstanding water revenue bonds and /or water and sewer revenue bonds, such certifi- cation of coverage shall not be required if the amount required for payment of the principal and interest in each year for the refunding bonds is not increased over the amount required for the bonds to be refunded thereby and the maturities of said refunding bonds are not extended beyond the maturities of the bonds to be refunded thereby; and 3, The ordinance authorizing the issuance of such additional bonds shall provide that an amount equal to the average annual debt service of the additional bonds proposed to be issued shall be accumulated as an additional reserve in the Bond Fund, said additional amounts to be accumulated by monthly deposits commencing not later than one month after the date of issuance of the bonds and to be accumulated within five years after the date of issuance and said reserve to be maintained in such amounts so long as any of said addi- tional bonds are outstanding to the last maturity thereof, PROVIDED,' HOWEVER, that in the case of refunding bonds the ordinance authorizing the issuance of such refunding bonds shall provide that the money in the "Reserve Account" for the bonds to be refunded shall be transferred to the "Reserve Account" in the Bond Fund, or that the moneys in the "Reserve Account" for the bonds to be refunded shall be used to redeem such bonds, in which event an amount equal to the average annual debt service for the refunding bonds proposed - 13 - • • to be issued shall be accumulated as a reserve in the same manner and within the same times as set forth herein for additional revenue bonds. Section 8. The City Clerk of the City of Port Angeles is hereby directed to publish once in the Port Angeles relit l t /d )/& rd I , once in the Daily Journal of Commerce of Seattle, Washington, and once in The Bond Buyer of New York, New York, not less than ten days prior to the bid opening date a Notice of Bond Sale of 1,700,000.00 par value of Bonds, being Bonds numbered 1 to 1700, inclusive, calling for bids for the purchase thereof to be received by the City Clerk of the City of Port Angeles in the office of the City Manager at the City Hall, Port Angeles, Washington, until 2:00 o'clock p.m., P.S.T., on Fe6rudra y , 1960, at which time all bids will be publicly opened by the City Clerk and the City Manager, and presented to and considered at the meeting of the City Council of the City of Port Angeles to be held in the City Hall at 8:00 o'clock p.m., on the same date. The City will purchase, from moneys presently on hand in its Light Department, Bonds numbered 1701 to 2,000, inclusive, and said numbered Bonds shall not be sold at public sale. Bidders are invited to submit a bid for the purchase of the Bonds fixing the interest rate or rates that the same shall bear not in excess of 6% per annum. The bids shall specify either (a) the lowest rate or rates of interest and premium above par at which the bidder will purchase the Bonds, or (b) the lowest rate or rates of interest at which the bidder will purchase the Bonds at par, or (c) the lowest rate or rates of interest at which the bidder will purchase the Bonds at a discount of not more than 2%. All Bonds maturing on the same date must bear the same single interest rate. The purchaser must pay accrued interest from the date of issuance of the Bonds to the date of their delivery. - 1 - • Each bidder shall seal his bid in an envelope with a good -faith deposit in the form of a certified or cashier's check made payable to the Treasurer of the City of Port Angeles in the amount of $40,000.00. Good -faith deposits of unsuccessful bid- ders will be returned when bids are evaluated and that of the successful bidder, if any, will be retained for forfeit to the City in the event such successful bidder shall fail orrefuse to accept the Bonds within thirty -five days after the acceptance of his bid if the same are ready for delivery. Each bid shall show the total amount of interest to be paid over the life of the Bonds from the date of issuance, less the premium, if any, or plus the discount, if any, and the effec- tive interest rate over the life of the Bonds. The City reserves the right to reject any or all bids submitted and to waive any informality or irregularity in the bid- ding. The Bonds will be delivered to the purchaser thereof in Seattle, Washington, or at such other place as the purchaser and the City shall mutually agree upon. The Bonds will be furnished by the City and will be sold with the opinion of Weter, Roberts & Shefelman, municipal bond counsel of Seattle, Washington, approving the legality of the same, all without cost to the purchaser. A non - litigation certificate will be included in the closing papers. PASSED by the City Council of the City of Port Angeles, Washington, at a regular meeting thereof and APPROVED by the Mayor thereof, this 21st day of Januar ATTEST: Ca• CITY CLERK