HomeMy WebLinkAbout2963 AN ORDINANCE ~nendin/ Ordinance No. 2918 of the City of
Bremerton so as to provide for an increased authorization
to pay costs for constructing and installin8 additions
and flaprovements to and extensions of the combined water
and sewerage system of the City of gremerton; and declarin$
an emergency.
THE CITY OF BREMERTON DOES ORDAIN:
Section...1. Section 1 of Ordinance No. 2918 is hereby a~ended
to read as follows:
Section 1. Section 2 of Ordinance No. 2837, as a~ended by
Ordinances Nos. 2744, 2762, 2862,.2894~.and 2932, is amended to read as
follows:
Section 2. The estimated cost of acquiring, constructing
and installing additions and improvements to and extensions
of the combined water and severaEe system of the City is
hereby declared to be as near as may be the sum of
$1,~00,000, approximately $500,000 of which will
be provided from local improvement district assessments
to be levied upon properties specially benefited by the
acquisition, construction and installation of said improve-
ments. The remaining approximate amount of such eosts
shall be peovided from the proceeds of sale of water and
sewer revenue bonds of the City in the principal amount
of not to exceed $1,~00,000.
As an integral part of the plan for acquiring, constructing
and installing the above-described additions and improvements
to and extensions of such cembined system, the City shall issue
and sell such water and sewer revenue bonds in such amount or
amounts and at such time or times as the City Council may deem
to be to the best interest of the City.
The exact date or dates, form, terms, maturities and covenants
of such bonds shall be as hereafter fixed by ordinance or
ordinances of the City.
Section 3. That there be and is hereby created a special fund
of the City to be known as the "Water and Sewer System Construction
Fund, 1967" into which shall be paid (except for accrued interest)
all of the proceeds of sale of the above-mentioned water and sewer
revenue bonds, and any other monies, except for local improvement
district assesmaents, which may be received, transferred or set
aside for the payment of the costs of the improvements described
in Section i hereof. In the event any other funds or accounts of
the City, other than local improvement district funds, have
advanced money to pay any part or all of the cost of such improve-
ments of any of th~m, such funds or accounts may be reimbursed
directly out of the proceeds of sale of such bonds or out of the
proceeds of sale of any warrants drawn on such Construction ~u~d.
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Warrants in the total principal amount of not to exceed
$1~00,000, bearir~ interest at a rate to be later fixed
by the City Council payable from the date of issuance
thereof to dat'~ of~dmpt~n, may be drawn upon said
Construction Fuml fro~ tt~e to time on the authorization
of the City Council upon eeceipt by it of bills approved
by the City l~ineer or by any e~ineer in his department
designated by him to aPpeewe ~uch bills for the purpose of
providin~ funds to pay ~art of the cost of the improve-
ments authorized in Section 1 hereof.
It is hereby further' provided that the Construction Fund
shall stay in existence for as long as deemed necessary by
the City Council in order to provide interim
improvements to be ~ade to the combined water and ~e~er
system of the City ~ther than those provided for herein.
Section 2. aecause it is 'necessary to pay costs which the
City will soon incur for the carryi~, .out of the above additions
and improvements to and extensions of its combined water and sewerage
system, an emergency is hereby declared to exist and it is hereby
found necessary for the public health, welfare and safety that this
ordinance become effective t~mediately upon its passage, approval and
publication as required by law.
PASSED unanimously by the City Council of the City of
Bremerton, Washinston, sisned by the Mayor and attested by the ~t.y
Clerk in authentication of such p~asase thisbe/~day of ,
GLENN K. JARSTAD~yor
ATTEST:
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