HomeMy WebLinkAbout0575 0RDI~E ~0. 5?5 ~
AN ORDINANCE establishing and numbering Local Impro~,~ement District Ne. 82, ~o compris
such territory in the city of Bremerton as may be assessed with special benefits for
the improvement of Second Street by 'the extension of same over certsin tide lands,
and providing for the issuance of warrants against such district for th~ paNments of
~ama~e, costs and the awards of the court in the said matter, and providing for the
issuance of bonds in redemption of said warrants, in the mode of "payment by bonds"
as provided by Session Laws of 1915, Chapter 154.
THE CITY 00UNOIL OF THE CITY O~ B~iE~,;~ERTON DO ORDAIN AS FOLL0~S:
Sec. 1. That there is hereby created and established in the city of B~emerton a
Local Improvement District to be known as Local Improvement District Ne. 8~, the said
district to include in its boundaries such territory as may be set forth and included
therein by the Board of Eminent Domain Commissioners of Bremerton under authority ~f
the Superior Court of the State of Washington for Kitsap County as the ~roperty
specially benefitted by the extension ~f Second Street under ordinance No. ~61,
approved 0cto~er 8th, lq1?.
Sec. ~. That the i~ayor and Clerk of the city of B~emerton are hereby authorized to
issue the warrants of the city of Svemerton against local improvemnet district herein
created, for the aggregate sum of Seven Thousand Two hundred and fifty dollars and su(
further sum fo~ costs of suit and interest, in the payment of the ~ward of the said
Su-[~erior Court made and adjudged in favor of Sophia Bremer in that certain suit in
the Superior Court for Kitsap County for the extension of Second Street under the
said ordinance. That the said exbension of Second Street under the said ordinance.
That the said warrants for the amount of the said award and costs be dr~wn in favor
of the ~ayor of Bremerton to be turned into cash by him and the samw paid by him into
the registry of the court at Port Orchard, Washington for the full sat.~sfaction of
the said qward and costs.
Sec. 3. That the said warrants when issued shall be so stamped and endorsed by the
City Clerk that any person purchasing or accepting them or any of them will have full
notice that they and each of them are payable only out of the funds of the said Local
Improvement District No. 82, and shall bear interest at seven per cent, per annmm,
from date of ~ssue till paid.
Sec. ~. Bonds bearing interest at the rate of seven per cent per ann%um payable on
or before five years from the date of issuance sha_:_l be issued in payment of and the
redemption 'of said warrants, which interest shall be payable annually. Each bond
shall have a[,tached thereto interest coupons /'or each interest payment. Said bends
shall be issued in denominations of $100.00 each; and shall be numbered from one
upwards, consecutively, and each bond and coupon shall be signed by the Mayor and
attested by the Clerk of the city of Bremerton, and each bond shall have the seal
of such city affi,,ed thereto and shall refer to the improvement to pay for which
the same shall be issued and the ordinance authorizing the same. Each bond and the
principal sum therein nemed together with interest thereon, shall be payable out of
the Local Improvement ~und, hereby created, for the 9ayment of the cost ~nd ex. nsc
of such improvement, and not other'~ise.
Sec. 5. Said assessment for the payment of said bonds as provided for herein,
shall be paid in three equal a;.nual installments, the first installment to be paid
one year from date of issuamce with interest on the whole unpaid sum at the bond
rate of seven per cent per annum, payable annually, under the mode' of "Payment of
Bonds" as dtfined by law and the ordinances of the city of B"emert3s a~]d Chapter
154, Session Laws of 1916.
Sec. 6. The city Treasurer of the city of B.~emerton, shall immediately upon
receiving the assessment roll from the ~lerk o~ the Superior Court, of the improve-
ment as hereinbefore set forth publish a notice in the ~fficial news~oaper of the city
for two consecuti~e weekly issues, stating that the said roll is in his hands for
collection and t~at any ass,~ssment thereon or any portion of any such assessment
may i_~e paid at any time within thirty days from the &ate of the first publication
of said notice without penalty, interest or costs, and the said city clerk and .~y~r
are here~y directed to immediately issue and sell, at not less t_~.~an par and accrued
interest, said bonds, at the end of said thirty days, for the amount remaining
un~_~aid, and to pay the proceeds of said sale of said bonds into the city Treasury,
and the said city Treasurer is hereby directed to forthwith redeem said warrants in
cash.
Sec. ?. This ordinance shall be in full force and effect five days from and after
its passage, approval arid publication as provided by law.
Passed by the city council of the city of ~D~emerton and approved by me this llth
day of ~¥~arch, 1918.
/ City 01erk