HomeMy WebLinkAbout2659 AN ORDINANCE establishing a fund to be known as the
Water and Sewer System Improvement and Construction
Fund, providing for appropriations of money into
said fund and for the issuance of warrants thereon
and payment of monies therefrom~ specifying the
purpose for which money from said fund may be with.-
drawn and expended, and declaring an emergency.
THE CITY OF BREMERTON DOES ORDAIN:
Section 1. That there hereby is created a special fund of the
City of Bremerton to be known as "Water and Sewer System Improvement
and Construction Fund", into which shall be paid (except for accrued
interest) all of the proceeds of sale of the principal amount of
water and sewer revenue bonds of the City of Bremerton as authorized
by ordinance, and any other monies which may be necessary and
legally available for the purposes of financing authorized by
Ordinance No. 2639 as amended by Ordinance No.
Section 2. That warrants of the City of Bremerton bearing
interest at the rate of 3% per annum payable from date of issuance
to date of redemption may be drawn.upon said fund from time to time
on the authorization of the City Council and upon receipt by the
council of bills approved by the Water Superintendent, for the pu~-~-
pose of providing funds to pay the costs of said'project or parts
thereof, and engineering, planning and financing therefor.
Section 3. There is hereby appropriated from funds to be
received from water and sewer revenue bond issue authorized and
specified in Ordinance No. 2639 as amended by Ordinance No.
such sums to and not in excess of the principal amount of said bond
issue proposed in the amount of $965,000.00 as set forth in said
Ordinance No. 2639. as amended by Ordinance No. ~'~- and from
other monies and funds available for the purpose of financing the
project therein authorized and purposes therein mentioned.
Section 4. Because it is necessary to pay certain bills for
the above mentioned water and sewer system improvements and
construction~ planning and engineering therefor, :which the City has
(1)
already incurred, and will soon incur, all as set forth in plans
and systems ordinance heretofore duly enacted, an emergency exists
and is hereby declared to exist and it is hereby found necessary
for the public health, welfare and safety that this ordinance become
effective immediately upon its passage, approval and publication as
required by law.
APPROVED unanimously on first reading this~_~day of
October, 1965.
PASSED unanimously on second reading by the City Council of
the City of Bremerton, signed by the Mayor and attested by the
City Clerk in authentication of such passage this j~ ~day of ~~m~.
1965.
ATTEST:
E. H. ~T, MCGOWAN, CITY CLERK
(2)
ST^T , O? W^SHIN TON )
) SS.
County of Kitsap )
AUSTIN CLARK, being first duly sworn on oath, deposes and
says:
That he is the duly elected, qualified and acting Commissioner
of Finance of the City of Bremerton~ that at the time of the 'adopt--
ion of the 1965 budget it could not reasonably have been foreseen
that appropriations available from water and sewer revenues and from
water and sewer revenue bond issue would not be available in sufficient
amount and time to pay initial costs of providing for the Ostrich.
Oyster Bay Sewer Project including engineering, planning and finan~-
cing costs thereof~ nor 'b~u~ 'i:t reasonably have been fo.~eseeu t'~at
revenue bonds for said project would not have been sold in sufficient
time to pay said project costs, parts thereof~ engineering~ planning
and financing therefore~ that an emergency appropriation not in
excess of the amount of said proposed bond issue as set forth in
Ordinance No. 2839 as amended by Ordinance No. ~,~ is
required for said purposes.
SUBSCRIBED AND SWORN to befor~ me this ~~-~d~y of
~~'P~LIC E~nd for't~
of Washington r~'siding at Bremerton
]965