HomeMy WebLinkAbout19130 /4. 3•'6.77
ORDINANCE NO. /9/3
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
/7 1977, of a proposition as to
whether 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 Washington
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 therefor
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF PORT ANGELES,
WASHINGTON, 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
g per cent per annum payable semi- annually and shall
mature in from two (2) to twenty (20) years from the date of issue
in such amounts as will as nearly as practicable, together with
the interest thereon, be met by equal annual tax levies for the
payment of the principal thereof and interest thereon. 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 /7 day of , 1977.
The Clallam County Auditor as ex- officio supervisor of
elections is hereby requested to call and conduct a special
election on /7 , 1977 and to submit to the qualified
electors of the ity 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 2r
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.
of the City?
BONDS, YES / /
BONDS, NO /-7
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.
Section 3. For the reason that the statutes of the State of
Washington require that this ordinance become effective and be
certified to the Clallam County Auditor within forty -five (45) days
of said election date, an emergency is hereby declared to exist,
and this ordinance is hereby declared to be in full force and
effect from and after its passage and publication as required by
law.
PASSED by the City Council of the City of Port Angeles,
Washington, at a regular meeting of said Council held this /6
day of ek, , 1977.
Mayor ro Tem
ATTEST
C Ail, Clerk
.
APPROVED AS TO FORM:
PUBLISHED:
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