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Home My WebLink About0445 Al{ ORDINAl{CE authorizing the Mayor and City Council to is~sue Local Improve:,~ent Bonds for the improvement of District No. 60 for the ext~.ndino and i'-iOpening of Broadway Street in the 6ity of B.remerton, beginning at a point 1034 · ~}feet north of the north m~rgin line of Sixth S~reet and thence framing north the meander line at Dye's Inlet, ~o be Used as a public, street and highway ::irand providing for the taking and damaging of the lands and other pz'o'perty nec- ~ ?iessary therefor, and the ascer~tainment and pa~ent of the just compensation :;itc be made for tlie private property so as to Be taken aad ~hamaged for sa~. put- !!poses, in accordance with the p. rovisions and 0~',dinance 1,1'o. 378, and Ordinances ~?~No. 382 and 387 amemdtng ~he sm.re, prescribing the rate of interest thereon authorizing the delivery ~ the contractor contracting said improvement,or !the purchaser of s~::id bonds. BE IT 0!IDAI}YED by the City Council of the City of Bremerton, as follo~ ~ Sea,ion 1. That the ~,~[ayor of the City of Bremerton and the Cit~ :iCl the sa~id City, be and they are hereby authorized and empowered, to issue Local Improvement bonds on the oroperty incluaed in Local Improvement Di~tr~ct No.60, ~ereated by Ordinances i[o. 5~/8,382 and 387 approved January 2o,1911, ...~ar~h 15,1. ~and April 24,1911,respe~tively, as preso~'ibed by law ~nd the ~rdinances of the [City of Dremerton~ in the aggregate amount of Pifteen Thousand One Hundred Eight four and 18/100 {?15,18~.18) Dollars, ~nd for such additional s't~n as may be re- .assessed a~ain~t said pro~.~erty not exceeding the s'~ of Seveu Hundred ~Bollars, or so much of said ~ever~l sinus as has not been paid ~o the con~;ractor ~for the proscecution and comple'~ion of said work. j~:~:' Section 2. That 'she mode and form off the execution of said b3nds ~'~a!l be as prescribed by ~he laws of the ,irate of Washington a~d the 0rdi~ances :[of the City o:f i~remert'on. Se~:t:[on ~. That the sa~.d Bonds shall be issued in series o? not ~:.Bxceeding thir'ty-three to be m~bered from one ~o thiz~ty-three inclusive, or so ~nany thereof as shall be necessary ~o f~md the t~paid balance dine the contractor ~og~ther with int~re~_~t, cost and di~bursements in said im~.~rovemen$ Dis~triot ~he denomination off said bonds shall be in the stun of Ptve Hm~dred [.~500.00) ~ollars each, except that the last bond or bonds shall be in such fraction of ~00,00 a,.:: shall t]~ea and tkere remain ~mpc~id. ' Section 4. That the sc,.id bonds shall be payable on or before five ~ ears from ~ date thereon, from the monies on account in tl'~e Local Improvement ~m~d, applicable fo~ ~he purpose as same may be called for as provided by 0rdin- anco No. 246, together wish interes~ a~ the r~t~e of seve~'~ IV) per cent OaLl inSerest l:o be paid ~nnually. Ail p~-'operty included in said Local Imp- ::~ovemen~ District No. 50 exce.~t such as h~:~s been redeemed by pa~entOof the asse men'~ thereon ~rior to the issue of ~aid bonds, shall_ be liable for ~;he special. ~ssessments levied for the payment of' said bonds and interesl;. Section 5. 'Jhat the s~Li b~nds shall be issued as prov]_ded, and del- ~,Ve~ed ~o the purchaser thereof for the improvement of said property ih said '~is~rict, ~mder said above n~ed Ordinances, in pa~lent ~hereof, delivery to be at such times ~:tn~l ~der such conditions a,~ provided by ~he cont,'act ,nd purchase thereof,, for such improve~$en~, and a~] ~rovided by ~he lav~s of bhe ota~ ington and the 0rclin~ces of the City of B:~'eme~ton. The und realized by the sale of ~aid bon~s ~o be applied in pa~ent for wqrrants outst~ndin;3' Said i:z~provemen~ district. Section 6. Tl~at the bonds fo~ the pa~ent of bhe last na~,.~ed s~ and ~ot ~o e:cceed ~,~00.00, or SO ~nuch t~ezeof as nmy be necessary ~o ~ee~ ~u~y re-ass ~nent which may be made by the City Council ;~nder ap ,royal and by t]~e bf ~:~e ~uperior Court of ~it.~ap County,~a~hin~to.u, ~h ll nob be ~osued unuil ~uc~ k~e-assessment i~ had, the same to be made for the purpose of covering any def- iciency on accom~t of interest or othe~ise, in ~he amount of bhe original asses~ merit roll in said district, ~nd shall be ascertained by bhe City Council t!~e direction of. the Superior Court of said o~n~' Section ?. This Or&inance shall be in full force and effect five (5) d~ys after its passage, approval and publication. Passed by the City Co,moil of the City by me this 17th d ~ of ~ebruary, ~.D. 191~. ~ayor At test: