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HomeMy WebLinkAbout2427 AN ORDINANCE of the City of Bremerton, Washington, providing for the submission to the qualified electors of the city at a special election to be held therein on March 14, 1961 of a proposi- tion of whether or not the city should issue its unlimited tax levy general obligation bonds in the principal sum of not to exceed $125,000 in order to provide funds to remove the existing First Street Dock and to construct a new dock, a retaining wall, pilings, fills, foundations for buildings, moorage facilities, and a launching ramp on said existing dock site and on lands and leaseholds adjacent thereto) and declaring an emergency. WHEREAS, the present First Street Dock owned by the city is unsightly and unsafe for present use of any kind or nature& and WHEREAS, in order to provide the city with necessary facili- ties for the docking of boats and for the handling of freight and passengers therefrom it is deemed necessary and advisable and for the public welfare and safety that the city remove such existing dock, construct a retaining wall on the land-side of said dock, construct a new dock on said site, construct floating moorage facilities and a small boat launching ramp, fill certain areas, install pilings neces- sary to provide foundations for buildings, and provide and prepare an area for the parking of vehicles, all on said existing dock site and on lands and leaseholds adjacent thereto~ and WHEREAS, in order to provide the money for the above improve- ments it is deemed necessary that the city issue and sell its unlimited tax levy general obligation bonds in the principal sum of not to exceed One Hundred Twenty-five Thousand Dollars ($125,000)~ and WHEREAS, the Constitution and laws of the State of Washington provide that the question of whether or not 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 OF BREM~RTON DOES ORDAIN: Section 1. It is hereby found and declared that the public welfare and safety of the people of the City of Bremerton require the city to remove its existing First Street Dock, construct a retaining wall on the land-side of said dock, construct a new dock on said site, construct floating moorage facilities and a small ~oat launching ramp, fill certain areas, install pilings necessary to provide foundations for buildings, and provide and prepare an area for the parking of vehicles, all on said existing dock site and on lands and leaseholds adjacent thereto. Section 2. That for the purpose of providing the money necessary to acquire, construct, install and make such capital im- provements, the city shall issue and sell its unlimited tax levy general obligation bonds in the principal sum of not to exceed $125,000. Said bonds shall bear interest at a rate of not to exceed 6% per aD~um payable semiannually, and shall mature in from two to ten years from 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 and maturities of said bonds shall be as hereafter fixed by ordinance of the city. Section 3. It is hereby found and declared that an emergency exists requiring the submission to the qualified electors of the city of the proposition of whether or not the city should issue and sell said bonds for such purposes at a special election to be held therein on March 14, 1961, in conjunction with the city general election to be held on the same date. The combined voting precincts, polling places, and election officials for said special and general election shall be as hereafter fixed by resolution of the City Council. The polls for said special election shall be open from 8:00 o'clock A. M. to 8:00 o'clock P. M. The proposition shall be submitted in the following form: PROPOSITION NO. 3 First Street Dock Improvement Bonds~ $125;000 Shall the City of Bremerton, Washington, for the purpose of providing funds to remove the existing First Street Dock and to construct and install a new dock, a retaining wall, pilings and foundations for buildings, floating moorage facilities, a small boat launching ramp, and an area for the parking of vehicles, all on said existing dock site and on lands and leaseholds adjacent thereto, issue its general obligation bonds in the principal sum of not to exceed $125,000, said bonds to bear interest at a rate of not to exceed 6% per annum, to mature in from 2 to 10 years from date of issue, and to be paid, both principal and interest, out of annual tax levies to be made upon all the tax- able property within the city without limitation as to rate or amount, all as more fully provided in Ordinance No. ~/~.~ of the city? BONDS, NO ...... . / / Section 4. That in order to comply with the election laws of the state and to make all preparations necessary for said special election, an emergency is hereby declared to exist, that this ordi- nance is necessary for the immediate preservation of the public peace, health and safety of the citizens of Bremerton and for the general welfare, and the same' shall be in full force and effect immediately upon passage and publication. APPROVED on first reading this 8th day of February, 1961. PASSED and APPROVED 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 15th day of February, 1961. Mayor ATTEST: City Clerk 3.