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HomeMy WebLinkAbout0895 AN ORDINANCE specifying and addpting a system or plan for the making of certain additions and betterments to the waterworks system of the 0ity of Bremerton, declaring the esti.~ated cost thereof as near as may be and submitting the proposition of the adoption of said plan and the issuance of special water revenue bonds in the sum of $90,000.00 in payment therefor to the qualified voters of said City of Bremsrton for ratification or rejec- tion at a special election to be held therein and providing for ~he calling and holding of such.election. ~THERE~i~, the CITY O~ Bremerton now owns and operates a municipal water- works s~tem for the purpose of ~upplylng ~aid ol~ a~d I~ Inhabitants wl~h water; and, ~t~EREAS, it is necessary, in order to provide an adequate water supply tha~ certain additions and betterments be made to the existing system; now, the refore, THE CITY C~t~..~TSSION_ O~ T~ CITY (1~ BRE~.,~RTON DO ORDAIN AS 20LLO~S: Section 1. Tha~ the following described system or plan for additions to and betterments of the existing waterworks system of said Ci~y of Bremer~on is hereby .proposed, specified and adop~ed,~ tc-wi~: That said City .make additions, betterments and extensions ~o its present water supply system by the acquisition, by purchase or condemnation, of water shed lands on the .~uderson Creek and Gors~ Creek watersheds; by the ~'laying of a supply pipe along the Navy Yard Highway and connecting roa~ds on · the Gorst Creek supply line; by the construction of dams, tn~akes and control w~rks on ~he east and west forks of ~_uderson Creek; and by the const~u~tion of pipe lines fr~m such intakes to a Junction wl~h fihe existing supply line on the nort& side ~ .Port Orchard Bay, such work to include all ~eeessary valves, blow-offs, connections and other s~ructures and appUrtenanCes neces- sary for the construction, control and oper,:~tion of ~nch water S:~emj and to include the acquiring, by purchase or condemnation, of all ne'e'essa~2 rights of way, easements or franchises, and to pay for all necessary engines:ring expenses to be incurred in laying out and construction of such additions and in determining the condition amd necessity for improvements of sai~: water system, and to al~so include all necessary legal smd ot~er expenses in the submission of said question at such special election amd the issuance of said bond s. That the estimated cost of constntction and acquiring of said addifiions and betterments to said system as hereinbefore set forth is hereby declared to he as near as may be the sum of $90,000.00. Section S, Said 0ity does hereby propose, adopt and specify as ~n integral part of the plan or system for said additions to and betterments o'f said waterworks system, and far the purpose of providing funds to pay therefor, tha~ it shall ii, sue and sell its special wa~er revenue bonds in the principal sum of $90,000.00, bearing infieresfi at a rate not exceeding Ordinance No, 8~, 0ont. 6% per annum, payable, both principal amd. interest, from a special fund designated as "Bremerton Waterworks 1929 Special Bond ~und" as hereinafter created. Said issue of bonds to mature serially in from 6 to 15 years from date, as follows: $ 1,000.00 in the year 1935 2,000.00 in the year 1936 3,000.00 in the year 1937 9,000.00 in the year 1938 10,000.00 in the year 1939 11,000.00 in the year 1940 12,000.00 in the year 1941 13,000.00 in the year 1942 14,000.00 in the year 1943 l~,000.OO in the year 1944 All of said bonds to be callable and paid on any interest p-~yment date on and after ten years from date. All of said bonds to be p~yable,' both principal and interest, at the office of the city treasurer of the said City of Bremerton, or at the' fiscal agency o~ the State of %'~ashington in New York City, at the option of the holder, and to bear such da~e, be in such denominations and in such form as the Oity Commission shall hereafter by ordinance prescribe. Section 5. That ~here be auld there is hereby created a special fund, to be known as "Bremer~on .~a~erworks 1929 Speoi,al Bond ~und", which fund shall be drawn upon for the sole purpose cf paying the principal and interest of said special revenue bonds. Prom and after the date of said special revenue bonds and as long as any of ~he same '~re outstanding and unpaid, the city .treaSurer shall set aside and pay into such fund, least 30 days prior to ~he respective dates on ~'hich the interest or prin- Cipal ~nd in~eres~ of said bonds shall become due and payable certai'n fixed amounts out of the gross revenues of said mLuuicipal waterworks system, in~ludi'ng all additions, betterments and extensions thereto, equal ~o ~.he respective amounts of in~erest or principal au.d interest, as the case may be, next falling due, and said gross revemues are hereby pledged. to such payments, which shall constitute a charge upon all of such gross revenues prior ~d superior ~o ~ll other charges whatsoever, including charges for maintenance and operation, excepting only those bonds remaining unpaid of the issue of Bremer~on Waterworks Bonds, dated Jan~uary l, 1917, and the issue of Bremerton Improvements and Betterments Water Bonds, da~ed July l, 1921., In creating such special fund sail City hereby declares that it has exercised due regard to the cost of maintenance and operation of Ordinance No..89~, Cont. waterworks system; that no portion of the revenues of said system have been previously pledged for any indebtedness excepting the two bo~d issues herein- before in this section me~..~ioned; that the gross revenues t.o be derived from the said waterworks system, in ~he.Judgment ~' the co~orate authorities of said City, will be sufficien~ ~o mee~ all expenses of oper~tton and maintenance, :'~ ~he pa~e'~ of principal and lnteres% of said prior bond issues, and permit the se~ing aside into said special fund of am0unts's[ffftolen~ to pay the in~eres~ and principal of the bonds hereby authorized as the same become due. Said City hereby irrevocably binds and obligates itself no~ to sell, ~ lease or in ~y ma~er dispose of said waterworks sys~e~ or any additions, ~ extensions or betterments ~here~o, ~il all such bonds hereby authorized, ~:~ wi~h inte~es~ thereon, shall have been fully paid a~d said City further cov- ~?~ enan~s and agrees ~o and with ~he holders of each ~d every of-said bonds, in ~he evem~ such bonds or ~y portion ~hereoC be issued, to maintain in good ~ condition and operate said waterworks sy.s~em and to establish ~ maintain ~. ra~es .and cht~rges for wa~er servi~e sufficien~ ~o produce the gross revenue~ ?~?:~ required to f~eet the obligations of said 0ity as herein set forth. Section 4. That a special election is hereby called, to be held in said Ci~y on June llkh, 1929, a~ which ~ime ~here shall he submitted ~o. the quali- ?-- lied .vo~ers of said City for ra~ifica~ion or rejection ~he plan or sys~e~ her'e~ specified ~nd ~dopted for the making of additions ~o and betterments ~i~[.' of the existing w~terworks sy~em and ~he issuance of speoiai w~er revenue bonds to pay ~herefor, such ~ection ~o be held in ~he manner and noMce ~.~' ~hcreof given ~s required by law. ~: Section 5, This or~n~ce is necessary for ~he immediate preservation ~.::.:.: of ~he public peace, he~'~.l~h and safe~y and shall ~ake effec~ i~ediately ~ upon i~s passage. ~assed by the City 0o~ission of the sa~ Oi~y of Bremerton, in regular ses~'on asse~abled, on ~he 8~h day ~;' Nays O; ~bsen~ O; and approved and signed by ~he Mayor an~ a't~e~ed by ~he City Cle~ in a~hen~ica~ion thereof, ~his 8~h day of ~Iay, 192.9.. AT.ST: reading on 2his May lsd, 192~, and placed on file f~"~cJi~spection. I the u.demigned do ced~ that ~n ordlnan~d by ~c~lo~ RESOLUTION ~0. 6~ '~HEREAS, a special election has been duly called for June 11, 1929, for the purpose of submitting to the voters of the Cite of Bremerton, %Vashington, for ratification or rejection the propositi'on of acquiring and constructing certain additions and betterments to ~he existing water- works system and issuing revenue bonds to pay therefor; and, ~,~I~ERE~tS, it is necessary to fix the form of the proposition to appear upon the ballot; now. ~herefore, BE IT RESOLVED BY THE CITY dOMt~ISSION O~ THE CITY GP' BRE~,~ERT~N: That the ballot tO be used at said special election shall contain ~he follo~ving statement of said proposition: "Shall Ordinamce No. 896, passed May 8, 1929, be ratified and the Cit2 of Bremerton, %~ashington, pursuant to the plan specified and adopted by said ord~inance, make certain additions, bet~er- men~s and extensions of i~s present water supply system by ~he acquisition of watershed lands, the laying of a supply pipe along the Navy Yard highway ~',md connecting roads on the Gorst Creek Supply Line, ~he construction of day, is, intakes and con- ~rol works on the east and west forks of ~nderson Creek, and the construction cf pipe lines from ~'ch intakes to the exist- ing supply line on the nc~th side of Port Orchard Bay, together wi[h ~he acquiring of all necessary rights of way, easements and/or franchises, and the construction of all necessary ap- purtena~mces, and for the puroose of' paying therefor issue its special ·bonds in the sum of $90,000, payable solely~from the revenues of said wa~er system serially in from 6 ~o 15 years, with in~erest not exceeding 6% per annu]n, all as provided in said Ordinance No. 89~. In favor of above proposition Against above proposition ~assed by the City Commission in regular meeting assembled this 8~h day of ~/~y, 1929. ATTEST: //'- ui~y ~lerk WashlnGt°nI S. S. State of County of I{its~p I the undemi~ned do certify that the and foregoing is a true and correct copy an ordinance passed by the city commission of the city of 6remerton, Washington ibove date. .