HomeMy WebLinkAbout3141 ORDiNANCe. NO.
AN ORDINANCE amending Section 6 of Ordinance
Number 3005 regarding the improvement of
an area known as Port Washington Narrows - West
Side, and declaring an emergency.
THE CITY OF BREMERTON DOES ORDAIN:
Section 1. Section 6 of Ordinance No. 3005 is
hereby amended to read as follows:
Section 6. That bonds, warrants, or
installment notes bearing interest at a rate of not more than
7 1/2 per cent per annum, payable on or before ten years from
the date of issuance, shall, be issued in payment of the cost
and expense of said improvement assessed against the property
included in the district hereinabove described which bonds,
warrants, or installment notes shall be redeemed by a collection
of special assessment levied and assessed against the property
within said district, payable in equal annual installments, with
interest at the rate of not to exceed eight percent per annum
under the mode of payment by bonds as required by law and the
ordinances of the City of Bremerton. These bonds, warrants,
., ~
or installment~ll be delivered to the contractor in redemption
of warrants on the Local Improvement District funds issued on
the estimate of the City Engineer, or the City of Bremerton may,
at its option, sell said bonds, warrants, or installment notes
and make such redemption in cash.
Section 2. There exists, and is hereby declared to
exist, an emergency; and this ordinance is necessary for the
immediate preservation of the public peace, health and safety
of the citizens of Bremerton, and shall be in full force and
effect immediately upon passage and publication.
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PASSED on first reading by the City Council
of the City of Bremerton, signed by the ~ayor and attested
by the City Clerk in authentication of such passage this
day of July, 1974.
ATTEST:
G'.'C. Y~ON, SR., ~ '~ty Ci~rk
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