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Attorney J
Bremerton Sun/
Bond File /
County Auditor /
CITY OF BREMERTON, WASHINGTON
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AN ORDINANCE of the City of Bremerton, Washington,
relating to the authorization of general obligation
bonds; providing for the submission to the qualified
electors of the City at a special election to be
held therein on November 7, 1978, of a proposition
authorizing the City to issue its general obliga-
tion bonds in the principal amount of not to exceed
$710,000 to acquire two firepumpers and to construct
a fire station, such bonds to be payable by annual
property tax levies to be made without limitation as
to rate or amount.
WHEREAS, it is deemed necessary for the public health, safety,
welfare and convenience that the City of Bremerton, Washington (the
"City"), acquire two firepumpers and construct a fire station; and
WHEREAS, to provide funds for such purpose, it is deemed
necessary and advisable that the City issue and sell its general
obligation bonds in the principal amount of not to exceed $710,000;
and
WHEREAS, the Constitution and laws of the State of Washington
require that the question of whether or not such bonds may be issued
be submitted to the qualified electors of the City for their ratifi-
cation or rejection; NOW, THEREFORE,
THE CITY COUNCIL OF THE CITY OF BREMERTON, WASHINGTON, DO
ORDAIN, as follows:
Section 1. The City is in urgent need of acquiring two
firepumpers and constructing a fire station, the estimated cost of
which to the City, including~all costs related to the issuance and
sale of the bonds hereinafter authorized to be issued, is hereby
declared to be, as near as may be, the sum of $710,000.
Section 2. The City shall borrow the sum of $710,000
on the credit of the City and issue and sell its negotiable general
obligations bonds therefor, for strictly municipal capital
purposes, other than the replacement of equipment, to-wit, to
provide funds in the amount and for the purpose specified in
Section 1 hereof.
Section 3. The general obligation bonds herein authorized
to be issued shall be.serial in form and shall mature in from two
to twenty years from the date of issue in such amounts that will
result in a difference of not more than $5,000 between the highest
and lowest annual payment of principal and interest computed on
such anticipated effective interest rate as the City Council may
determine will be borne by the bonds and shall be paid out of
annual tax levies to be made upon all of the taxable property of
the City without limitation as to rate or amount sufficient in
amount to pay the interest on and the principal of the bonds when
due, and the bonds shall so provide. The exact date, form, terms,
options of redemption and maturities of such bonds shall be here-
after determined by ordinance. The bonds shall be issued and sold
when the proceeds thereof are required.
Section 4. The life of the two firepumpers to be
acquired from proceeds of the bonds issued therefor in an amount
equal to the cost of the firepumpers and maturing from two to
twelve years from the date of issue is hereby estimated and
declared to be as nearly practicable not less than twelve years.
The life of the fire station to be constructed from the proceeds
of the remaining bonds issued therefor is hereby estimated and
declared to be as nearly as practicable not less than twenty
years.
Section 5. It is hereby found and declared that an
emergency exists requiring the submission to the qualified electors
of the City at a special election to be held therein on the 7th day
of November, 1978, in conjunction with 'the State general election,
of a proposition authorizing the issuance of general obligation
bonds of the City for the purpose specified in Section 1 hereof.
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The Kitsap County Auditor, ex officio supervisor of
elections for such cDunty, is hereby requested also to find the
existence of such emergency and to assume jurisdiction of, and to
call and conduct, said special election, at which the proposition
hereinafter set forth shall be submitted to the qualified electors
of the City.
The City Clerk is hereby authorized and directed to
certify the proposition to the Kitsap County Auditor in the
following form:
PROPOSITION
CITY OF BREMERTON
FIRE EQUIPMENT AND STATION BONDS - $710,000
Shall the City issue and sell up to $710,000 of general
obligation bonds to acquire two firepumpers and to
construct a fire station, such bonds to be paid by
annual property tax levies to be made without limita~
tion as to rate or amount and to mature serially in
from two to twenty years from date of issue, as
provided in Ordinance No. 3~,
BONDS ... YES [ ] BONDS ... NO [ ]
more than forty-five (45) days prior to the date of such special
election.
Section 6. This ordinance shall be in full force and effect
upon passage, approval and publication.
PASSED by the City Council of the City of Bremerton, Washington
at a regular open public meeting thereof and APPROVED by the Mayor
ATTEST:
City Clerk
APPROVED AS TO FORM:
' C~y'Attorney~
Date of Publication: ~' i- ~ %
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I, KATHLEEN L. MANDIO, City Clerk of the City of Bremerton,
Washington, hereby certify that the attached copy of Ordinance
No. ~~ is a true and correct copy of the original ordinance
passed on the ~$~ day of ~~ , 1978, as that ordinance
appears on the Minute Book of the City.
DATED this ~ day of ~U~~ , 1978.
KATHLEEN L. MANDIO, City Clerk