HomeMy WebLinkAbout1944ORDINANCE NO. /9 ?1/
AN ORDINANCE of the City of Port Angeles,
Washington, providing for the submission
to the qualified electors of the City at
a special election to be held therein on
November 8, 1977, of a proposition as to
whether the City should issue its unlimited
tax levy general obligation bonds in the
principal sum of Two Million Dollars
($2,000,000) in order to provide funds to
develop a municipal pier within said City,
and declaring an emergency.
WHEREAS, in order to provide the people of the City of
Port Angeles with modern recreational facilities and to further
the public health and welfare of said people, it is deemed nec-
essary and advisable that the City develop a municipal pier on
property now leased by the City, and to provide the money therefor
that it issue and sell its unlimited tax levy general obligation
bonds in the principal sum of Two Million Dollars ($2,000,000);
and
WHEREAS, the constitution and laws of the State of Wash-
ington provide that the question of whether such bonds may be
issued for such purposes must be submitted to the qualified electors
of the city for their ratification or rejection; now therefore
THE CITY COUNCIL OF THE CITY OF PORT ANGELES DOES ORDAIN
as follows:
Section 1. It is hereby found and declared that the
public health and welfare of the people of the City of Port Angeles
require that the City develop a municipal pier on property now
leased by the City.
That for the purpose of providing the money necessary to
acquire such capital improvements the City shall issue and sell its
unlimited tax levy general obligation bonds in the principal sum
of Two Million Dollars ($2,000,000).
Said bonds shall bear interest at the rate not to
exceed 4,.
..r per cent per annum payable semi - annually and shall
mature in from two (2) to twenty (20) years from the date of issue.
Both such principal and interest shall be paid out of annual levies
of taxes to be made upon all the taxable property within the city
without limitation as to rate or amount. The exact date, form,
terms of maturity of said bonds shall be as hereafter fixed by
ordinance of the City.
Section 2. It is hereby found and declared that an
emergency exists requiring the submission to the qualified electors
of the city the proposition of whether the City should issue and
sell said bonds for such purpose at a special election to be held
therein on the 8th day of November, 1977.
The Clallam County Auditor as ex- officio supervisor of
elections is hereby requested to call and conduct a special elec-
tion on November 8, 1977 and to submit to the qualified electors
of the city the proposition hereinafter set forth. The City Clerk
is hereby authorized and directed to certify to the Clallam County
Auditor said proposition in the following form:
P R O P O S I T I O N
Municipal Pier Development, General
Obligation Bonds, $2,000,000
Shall the City of Port Angeles, Washington, for the purpose
of providing funds to develop a municipal pier within the
city on property now leased by the City, issue its general
obligation bonds in the principal sum of Two Million Dollars
($2,000,000) said bonds to bear interest at a rate of not to
exceed (o,Sr per cent per annum, to mature in from two (2)
to twenty (20) years from date of issue, and to be paid, both
principal and interest, out of annual tax levies to be made
upon all of the taxable property within the city without
limitation as to rate or amount, all as more fully provided
in Ordinance No. /j.5,3‘ of the City?
BONDS, YES. .
BONDS, NO . .
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The polling places for each of the voting precincts
within the city and the officials to serve at each polling place
for this special election shall be as selected by the Clallam
County Auditor.
PASSED by the City Council of the City of Port Angeles, ec
Washington, at a regular meeting of said Council held this „2,t,
day of September, 1977.
AZ"�EST:
-
C.
City Clerk
APPROVED AS TO FORM:
City Attorney
PUBLISHED: die. 444E14
M A Y O R