HomeMy WebLinkAbout0643AN ORDINANCE confirming the loan to be created by l;he issuance and sale of warrants
bonds against a special fund heretofore created and named "Improvements and Betterme~
Wate~ ~und, Series B," for the~purpose of making certain improvements and betterment.,
to the existing-~:ater supply mystem owned and controlled by said City, and for provi~
ing for the necessary ex]genditure for making such certain improvements and bettermen!
to the existing water supply system, sa~d City borrow money and contract Indeb~ednes-~
therefor by the issuance and sale ~f warrants or bonds against s~id special fund, to
paid out of said special fund only, as authorized by Ordinance No. 8Z? of said City,
approved June 9, 1919, and by an election of th~ voters in said City, held on ~uly 8
1919, in pursuance of maid Ordinance No. 6~?, and specifying the percise amount of b~
to be issued therefor ~nd the object of such creation of indebtedness of said 'Impro~
ments and Betterments i'~ater Fund, Series B," of said City.
WHEREAS: The City Council of ~e City .of Bremerton, in and by Ordinance Nc
6Z? of said 0ity, entitled: "An ~rdinance proposin~ to the voters of ~he City ~f Bre
erton that the City fo B~emerton make certain improvements and betterments t~-the exi~
ins water supply system owned and controlled by said City, and u hat for the purpose
pro~iding for the necessary expenditure of s~id improve:nents and b~tter~ents, said Cd
borrow money and contract indebtedness therefor by the issue and sale of warrants or
bonds agains~ a specia~l fu.~d heretofore created and named "Improvements,. and Betterme~
Water ~und, Series ~," in a sum .of.not to exceed ~ifty Thousand (~0,000.~.0) Dollars,
to be payable out of said special fund only, and specifying a~d adopting a proposed
plan and detail 'of said improvements and bettorments, and decla, rin~i~ ~he estim~ted cos
thereof as near as ~nay be, and providing for ~he holding of an election a~ which said
voters may vote for or against s.~id proposition, and providing for the issuance and s
of such warrants or bonds, in ease a majority of t~e voters of s~id City voting at su
election, shall thereby a~sent to suc.h .~ssuanoe and sale thereof," a~p~'oved Ju~,9 9, 1
p~'oviding for tt~e borrowing of money and contracting an inde~,~edness a?ainst a specia
fund hez'et0~'ore created and roamed "Improvements and [~etterments '~'~ater Fund," by the i
suance and sale of war~'ants or bonds to 'be payable out of said "Img~ovements ~nd Bert
merits Water ~u~d, Series B," in a sum not to exce~d ~ifty Tho~:sand ~50,OOt;.,~} Della
for the purpose of providind for the necessary expenditure for certain imlprovements a
better~nents to the e~:istir~g water sup .ly system owned and controlled by said Oity, an
in said Ordinance mentioned and ~escribed, in case the making of such improvememts
betterments and the issuance of such war,'ants or bon,.~s should be authorized a~d cerise:
ed to 0y a majority ~ff ~l~e voters of s~.i:'~ City voting at the elec~on therein provide,
to be held for that purpose, ani in and by said Ordinance further provided for the
ins of an election for that purpose on July 8, 1919, and
WHEi(E.~S said election in said Ordinance provided to be held, ~/~s duly held,
pursuance thereof, on July :~, 1919, and the proposition for the makin~ of su~h improw
ments and betterments and £or the issuance of such warrants or bonds, in and i~y said
O~.~dinance set forth and sub:~itted, was at said election duly voted upon by the ~ualif:
voters in said City, and was duly assented to by such vote of more than a majority of
the voters in said City voting at said election, the nu~nber ~f votes case in said ele~
tion in favor of said proposition being 82, and the nmnber off voted case therea~ agaiz
st said proposition being 29, which vote has been duly canvassed and the result of sa1
election thereon duly declared by the City Council of s~.id City on July 14, 1919, and
WH~i<m~ all things required by law in the premises hitherto have b~en duly
done and performed, a nd
¥~'HE~-f,~.~ the proper object of t he creation of indebtedness by the issuance of
such warrants or bonds is to provide for the necessary expenditure for said improvemen
and betterments to said water supply system, and the amonnt of such bonds :~equired to
be issued for such Object is the said sum of ~ifty Thousand 1~50,000.00) Dollars, and
~VH,~I~EAo the City Council of said City deems it is desirai::,le for sai~ City an
the said water supply system that said lomn should be created by the issuance of said
bonds for the amomut of ~ifty Thousand (~50,000.~0~ Dollars, to be ps~ya!.:le out of the
"Improvements and Betterments Water FU:td, Seriea B" only, for the object aforesaid, in
pursuance of said authoriz,~.tion thereof by said Ordinance No. 63~ and by said election
now, therefore
THE OI'I~f 0OUNOIL O~~ .~tiE 3ITY O~ B:.E~ERTON DO ORDAIN AS
Sec. 1, That said loan created and authorized by the issuance of bonds, pay
out of the "Improvements and Betzerments ;'~ater ~und, Series B," only, hereto±'ore creat
as hereinabove in this Ordi::~ance reoit'ed, 'be, and the same is, hereby confirmed by the
City Oouncil of said City.
Sec. 2. That said authorized sum of ~ifty Thomsand ~$50,000..:0} Dollars 'be,
and the same is, specified by the .Jify Council of said City ms the precise amount of
bonds to be issued and paya,~le out o£ the "Im0rovements and Bettez'ments '~Yater Pund,
B," only.
Sec, J. That the object of the creation of indebtedne~ of such special
by the issuance of said bonds thereof be, and the same is, hereby specified by the Oit.~
0ouncil of said City to be the making of certain improve~nents and betterments necessar.~
for said existing water sup01y syste:~n of said Ci~y in said Ordinance No. 6~?, mentioned
and described, and hereinbefore in this Ordinance mentioned.
Sec. 4. This Ordinance shall be in full force and effect from five {5) days
after i~s 'passage, ap0z'ov~l and publicat~on.
Pa sed by the City Council and ack, roved by me this 28th day .~f July,.A[ D. 1~.
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