HomeMy WebLinkAbout0470 OP~INN!~OE NO. ~0
AN Oi~Ii~i[~CE or~9o$'n~ ~o/the voters 'of the City of Bremer~on that the
Oit~ of Bre 'er~on purch~s~]~ t~ Bremer~o~-Oharleston Ligh. t and kuel Company
f the~exis%in~ electric lig~ afl. power system owned and operated by the said
:Comoany. soecif~zinE ~nd~o'ot~g-the pro'oosed plans ~nd details or.aid ~ystem,
and'fo~'th~ m~]c~n~-of ~it'~s-and i.m~r~vements thereto. ~d cieclarin~:~
esti~ated ~',o~ 't~r~=s~ =sn~a ash ar asma~ma~ ~e~'-'and providing ~or ~the holdin~ of
~/election at ~ch s~v°t~rsrmay VOte for or against the said proposition; als~
~DrOViding fo~ $]~e a%~-~is~ion of the l~ds, buildings, machinery, ri~hts, righto
~f way, eas~en~,~r~i~ges and properties necessary or conVenient
'~he o~ming ~f~ sFs~em, or the constr~ctlon off suCh.improvements and additions
~hereto. a~~~/per!~e~ual oontrol ~Ud o'~eration of said electric lighting
'syS%em,'an~~e'~p~ments and additions thereto, and for ~he f~nish, ing
of wlwctric light ~d~ver to others than the CitF of Bremerton and i~s inhab-
~i'tants. in case. t~ters of said City ~oting at said special election shall
oonsent thereto,/~ providing for the payment therefor in ~r~ by the issuance
.o~ te~'{lO) to ~nty'[20) year bonds of ~aid City and in part bY the issuance
of s'peci~l utility fm~d warrants or bonds, payable only o.ut of a fm~d to be
established for tko pa~ent o-f the same by ~etting aside therefor a fixed prop-
ortion of the grossrevenue derived by said' City from the elec~r~ic lighting and
power system so ~o~e ovmed and controlled by said City ~til the !~a}ment there-
,off sh~ll have bee~ completed.
- ~d~E~S: The City of Bremerton, a mt~icipal corporation of the third
=lass, has pro ~osed ,' am.~ ~ does propose, to purohase ~he electric ~ight and power
~ystem at presen~ owned, ooutroll~d and operated by the Bremerton-Oharteston
. ~!ght end Puel Company, = private corporation, for th~ supplying of s~id Oily
~and i~s t~a~itants of the vi~inIty thereof, including ~he village of
~,$he City of Charleston,and the City of Port Orhhard with electric li~ht and-
power; and
,~ .... ~ .... : The said
,. ,~.~ty is not now the o~mer of and is without ~y
electric lizhting system or generating p~aut exeep~ that which is provided by
~he said Bremerton-Charleston LLrht and Puel Uompany, and may be.required to
~urchase power from time to time for the operation of said light and power system
-for ~hird l~.rs~ns and corporations when it shall have become the p~-ch~ser and
ow~er of s~.~ ei~ct~.~Ic li~_~t and Dower s~stem,
.,k~.t~,~: ~i.~ Oity ~s ~ithout pre~ent means of supplying such system
~ ~d such g~e~-a~]ing plant .except by 'burdenin~I its citizens with excessive taxes;
~d
~ti~z~. I~ h~s been p~aotioally determined that an adequate gener-
ating plant to suppty s~id Oily ~nd said system with, ~s estimated ~t ~seven huudred
(~00) horse ,power c~' he purchase& of ~he saLd Bremertoh-Ctmrleston Light a~d Puel
.'Comp~y, together with such improvements additions ,thereto as may be necessary,
~and ~h~t sai'~,Dlant and sFstem cun be p~c~ased, cOnstrUcted ~d furnished with
all the neces~ar~.Ia, nds, rights rights of ~ay, easements, power houses, Dole
lines and rSac]'flnery at~a~(Cos.t o~ about One hundred ~en~y-five ~o~an~~"~"~l o,O00)
Dollars: and
~im~S: The price at ~hich the sa~d s 'ed to ~he said.
City of Bremerton by the s~i& Bremerton-Oha~l( Puel Company ~together
with the improvements' und ~dditions contemDla'~sd~ is for the bes~ inSerests
an~ econo,ny of sai~l City and its inhabitantS;
~,H2~S: The cash ~.reve~%ue deriVed from s~id City from said eleot~ic
light an~t power system at the current r~es charge~ th~efor, are considered suf-
}~ ficient ~o pay ~ll' expenses of operation and maintenance, including said improve-
~nents u~ld additions therefor.;~, and to further allow to be set aside therefrom into
5 special f~d a s~ ~semi~ua~y sufficien, t four the pa~ent of tlfe cost of
said eye, tern, together with ;said ~p'~'ovements and addi,tions within twenty (20)
years ~tO); and ~ . · , -
,,H~,~: I~ zs neces~ary for the public, in,erects that said electric
li~ht an, d power sys,tem, together with said improvements-and additions thereto,
be forthwi.$h ae'quired, p~chased and ~mde by th~ said Gity of Bremerton;
. J~,z~,o: The p~hase price Of said electric light and ?~ower system
as agreed upon is-the' smu3of'$42,500.O0 subject to a mortgage of ~,~4V,O00.O~, ~k-
lng, a total of ~0,000.-00; and ,
',¥ilEi~J~Z- It' is deemed necessary tha~ the~ plans and de~ails of said
pro~osed s~Q~em,, improvements and additions t~said electric light.nd power
~ys%em of s~id Bremerton-Ch~.~rleston Light ~d p~el.oomD~ny so to be purchased,
acquired an~% made .by the said~ City of B. rem~ a~d~Pted and retified by
voters o:f said City votin~ thereon at a special election prior to the
o~f ~he e~enditures contemplated;
~'~" TF e
· ,OJ, T~i~OR~: ~ City Jou'n~il of 7 the City of Bremertm~ do
as follows:-
Section 1. ~That the i~ayor ~nd City Co,moil of the Sity o:f J3remerton
hereby pro/Dose and submit to the voters o2 said City for their ratification or
rejection by a.majority consisting of three-fifths [~/5) of the voters voting
at' a special eiection to ~e held in ~aid City~of Bremerton on Tuesday, ~he 26th
day of August, .k.D. 1913. The proposition that the Oity of ~emerton ~m~uire
by purchase that certain electric lig]~t and power system now owned,operated and
controlled by the Bre.:~erton-Charleston Light ~d ~uel Company, in the cities of
~emertou, Charleston, Po~ Orchard and the village of Manette and vicinity,
and to make those certain improvements and additions thereto, al~ which is set
forth and detailed in Section t~o of this Ordinance, t0 the existing emectric
ligh~ and power system ~o owned, opera,ed and con~rolled by the 'said Bremerton-
Charleston Light and B~uel Company, in,the manner hereinafter set' forth.
Section 2. ~at the plan~ and details of said proposed light a~d
4~ower system, together with the improvements and additions t0 said electri~
lich~ ~nd power system, are hereby specified amd adopted, and the estimated
cost, as near as may be, is hereby declared as follows, towit:
It is proposed that the 0i~y of Bremerton purchase of the Brem~r~on-
Charleston Light and ~uel Company, at and for the price or stun of I~ine~y
and [~90,000,G0) Dollars ....
'~ . its entire plan~, electric lighting system and property
as no~ constructed owned controlled and o-oerated, in ~i~e cities of Brsmer~on,
0harieston, Z)ort 0rdchara aha vil!~ge of ~..[a.nette, and in ~he vicinity of each and
all of them together with all neoess~ry lands, buildings, rights, rights oY way,
eamemm~s, privileges, machinery, tools and e?iuipment, and all other property
necessary ~n~ convenient, and that it oval, control, operate and maintai, n said
electric system, electric generating plant, machinery, tools, .equipment and other
property as hereinabove set forth, ~o~ether with such improvements ~nd additions
thereto as may be necessary and convenient ~or the working c~pacity of 700
eloctric horse power at the low tension Of the transformers in stations and sub-
stations so to be purchased or constructed, or to ~be const~cted, and to bc~ oder-
a~ed by steam powe~ to bY, furnished by sai~ City off Bremerton at said plant or
station, as now constructed, o'~med, controlled and operated by said Dre::~erton
Charleston Light and ~'uel Company,~d such improvements and additions thereto
.as may be made theret~ from time to time by said City, together t~ith ~ sufficient
power house Wherein ts 2coated and to be located sufficient generating machines
also sufficient pole and wire lines, with the necessary and sufficient distrib-
'~ting stations loctaed on the lands to be purchased and ovmed :by ~he City o~
Bremerton, supplied and to be supplied with all the necessa~ machines; ~lso
all necessary lands, ~gn~s of way, easemeuts,privileges., buildings, shops and
other appurte.n~ncesnecessary, desirable and s~ficient to the pe~etual ~om~ershi~
~se, enlargement, control an o?ration of said~electric li~'~t and power system
a~d any and all e~:tensions, impro,vements and addition, s'
prop. o~d that s~id City of Dremerton further orovide for the
p~rchase of said elect;tic light and power system and other property so o~vne~,
controlled and operated by said Bremerton-Charleston Light ~nd Fuel Company, by
~Lot~san~ ~25,000.00) Dollars of its negotiable
the issuance of ~venty-five "' ~
bo~s, as a general indebtedness against said di~y, payable on or beffore twenty
[20) ygars bearing interes~ at the r~te of not exceeding six per cent (6) per
am~a, and that a levy 'off s~ arousal, t~ be authorized for the purpose for
viding a ~in~.cln~,~ fund sufficient to .p~y the semi-am~ual interest thereon,
and to provide for the pa~nent of said bonds in a s~ of not :less than ~hvelve
Hundred and Pifty [~1250,00) Dollars per ann~n.
.klso B~-~'i~e issum~ce of its first series of special electric licht md
power f'~d warrants or )~onds, ~y~-~ble out oi' the reEenue of said system, in .the
s~ii of Sixty-fiv~ Thousand (~)55,000,00). Dollars, bearing interest at '-~,L~,~ rate
si:: ~g) per ce.~t per a~u, the s~ne to be a first lien on said reve~uo, of which
Porty-seVenaud used '~ .Th°usand Five !!zmdred [~&7,500.00) Dollars ,~shall~ be held or sold.
~.o~ the payment or retirement of the mortgage ~n~ bonds now
said plant or system, and Seventeen Thousand Pive Hundred [~17:,500.00) Dollars
of which shall bear interest at the rate of six per cent ~[6%) per aun~, a~d be
delivered to the sai~ ~remerton-Charleston Light and Pnel ~Comp~y as part pa~uent
for said system, and th~:~t ~ sinking f~d be created from the gross reveuues of
s4id sys'~am sz~'fi~'ient to pay not less than 2~enty-five Hunar.~a .(9~o00 00)
semi-annu~ upon tho nrincipal of said in~ebt~edness of 5i::$y-five The ......
~o~.,,O~:O,Oo')Dollai-s, ~:o-'cthe,~_ with the in~reot~ ~ accruing thereDn.
.~lso i)2' i'~e issuance of its second series cT special electric l:~*:~'~
powe?f'~uid 'warrauts or bonds, -aayable ou_ o:? the revenue of said ~,~,t~m, in i;he
s?s~u off fiix~~m:~:~:~a~ Thirty-five Thous<n~'~ (.;,oo,000.00) Dollars, or so
~e l)~roliase~ is the slzn of ~,iimty 21ious~ne {~90,000.00,} Doll.~ri; ~;i:i(l ~ e
ess~ry to said electric ii~,t azirl powez'
Tilir.-y-fiv~ T~,ors,md (~55,000.00} Do!!~.rs. ,
, ~ :~'~y o~ ..~I:L<USt, .T' ' ' iii {;i:.D Sci'cz'al
eloction prtcincts into
p..~_o~on~ of 0 a. ~ic election ,~_~I ;-.e ..
~"2"'~ .; ~-~ .... ........... .l j~d-,'es of ~-Io.~ {':ion ~ ,.,~ bu ~'u~i. ec~ively dec{/.T:isdJe{~ ~..u- ~pp-"
~osee? ~ ..... : .;i~.:tior: i:i the offlui~l ~i~,,~,sp~i, ei' oT ~'",e z~... 0it~, tO-,/iti
~ ............ ~,e.'~, ..$ :~:th!i~l,.i~ij Is e~cli issue of sa.ii paper chtrin~ s~]. ti:,ie,
a :)re'paz'~hl :io~iue of such eiectioyt, .;XilUti notice b~il include the fro',2o~:ition
hereLv re~i-Ltir~{l {1o be smJuittea *~"~ voters, ami the forms off ti'e !:allots
to l,~ ~a~ ;/:r ai:,~ ~:G~,inst ~u:::li p,'oposi~ . '-
"e' <Y' ~ ...... to-wi~'
_:,".rJ;z'~, votes elec~ili .... vote in favor .of maid proposition thst the
oonvci, iioylt i.; 1"-,- - ..... ~.~ '~oi:'ein provided, ,]~t~li v'o
...... ~ ......... ~-.~ ~"-' te ballot contai, n~nS
"In f:~vor of the pro-position ~,s set forth and detailed i'n Ordinance
~. q ' · ,~ ~-,_~ .-~ .
i.To, d:70, to i)ni"oh~e ~]~e e~i,. ~lio eleot~..~., li~h~ ~nd. pow'er
aiut {,iie property and !'i~!i~s of the lSPelnel'~on-0h .... ~i'l,~s;ton Al:''a.,~l~.~
.,o,, ,~..;.-' at and zap tb~ slIi:t of i~ii'io~3~ 'iii]tOt!Sa]Il {.~L. ,000.00}
~'/ez'y voter votiii.5', -o~-"~"i:'~t~ si. ii pro ~os~tioii_ . last above ~ ..... , ,,,t..-""~ ~' ~
",~,"airmt' ~'~'.,~:~e p~.'o2osition as se', R~rbh and detailed" ~ 0rd!.n~nce
· -~ i~L~. ..... ~ ~,:~e e::].stin~ olectz'ic li,~.h~ ~i~ .... pot:er sycte;.:l
~n,.t tiie pz'ope~ty and ri :'l'its of 'fha Bre;,ierton-Charleston I, ig'~,t and
· ~::iix.;~.. at a'nd f.o:c tL~ si'~;~ of ilirietll Thousa. n~
~,3 ]_lal' f:" .
~said J.lty of z'.3.1erton become ind. ebted in l;he smu of ~venty-five i'iious
· w,-,./ " '5 , 00n., ..,.00) Dollars for 'N'!e-_a~z,,,~.~..t- '~'"' ~''' o._ m~i't of the .T)urokase price of "',he etist-
uo~,~. ~i~, , ,mic tli~,t it shall therefore issue
special electric listit an.,:l power f~id warrants or bonds, i,a~o!,, out o.
~.,. , ...... .housand {,,,,o,..,)Ou,.,~,c~ Dollars
to i)~y t;he ba!mlce of tke purot'lase ~riee of said electric light and i)ov79r
shall vot~ a hal. lob containinP: the words:
"~n ~avor of th,~ rroposition' as se~ ~'
~o~h in Ordinanoe No, 470
~t~ c.f Brei. ier~on, thai; the Citer of z;reme uon beoome ;nde~ted
in the s~ul of Twenty-five ~nousa~d [~5,000,00) Dollars for the
~,~eht of a part of ~he 'puro!iase pri~e of the existins electric light
a~., power system and ~ue property and rights of ~!'.e ?.remerlon-
~u.~L~ston Light and 2uel 0ompdny, and it' shall further issue its
speoi~t electric light ~nd power f~md w~rrants or bonds, pay~ble
ouff o~ the z~vmmes of s~d sys~e~, in ~he s~z of ozx~,;~z~ve Thou~
~nd (~55,000.00) Doll~r~, to p~y for ~he balazme of s~i~ p~rch~se
oz'i~e o:[' said electric ai~ power system,~ef ~he' Bremertoii-Oharleston
Puel Co."
Every voter vo~inz~: against said proposition l~stabove
~/~sshall vote ~ b~llot containing the words:
~ - "Against the~ proposition as,set forth irt Ordinance No. ~70 off
~he ~ity of Bremer~mN, that 't]~e said City become indebted in ~he
of ~%ve~ty-five Thousa~'~d {$~
,~o,000.00) Dollars in payment o~~_:art of the
purchase price of the e:cisting electric light a~d power system, au.d
the prbperty and, rights of the Oremerton-Ohar~es~on Lisht m-~d Fuel
,~ompauz~, and that it shall further ~ssuue its special electric ~ijht
and power f~nd warrants or bonds, pay~.ble out off,the revenues of
said system, in the s~.~a of S~ty-five T~ousand [~65,000.00)Dollars
to o~' the balance o:f the purchase price of said electric li~:~t and
-power system of the Bremer~on-0harleston Ligh~ and ~uel '~ "'l '~ ~"
~ver~, voter e~ectin:-~ to vote tn favor oi' the prouosition that i-~,~
L~:.-City of Dre~erton shall further issue its special electric light ~d -po',~er
fund w~rrafits oz~ bonds payable out of the revenues o~ said system, in t];o fur
sm~l of ~"~-~ ~.*--~.,~, ~,-=-~-.~ ¥ ~ Thousand [~oo,000,00)~"'~ =D~llars, or so much thereoi' as ~ ~1
be mecessary for the p~pose of making improvements, additions and e~_tensicns
to the existing electric light amd power system of the Bre~e~ton-'Jharleston
Light ~ad Puel ~
~omp~, when the same shall h~ve been p~rchaSed by the said
.~o~th in this 0rdin~.~e, s~all vote a
City of Bremerton, as detailed and set ~ ~
b~]lot ~ontaining the words:
"In favor of the proposition as set forth in ~rd~na~e No
of the City of Bremerton, ~h~t said City sh~ll-f~ther issue its
special electruc light ~nd pov~sr f~md warrants or b ..... p~yable
out of ~he revenues oi~ the said system in thr further s~m~ of Thirty-
five Thousand ~'~'~'~ - ~ ~;~ be
9~,000.00) Dollars, or so much thereof as
necessary, for the purpose of makins improvements, additions and
e~tens~ons to the e~isting electric light and-power system of the
Bremerton-Oharl~s~on Ligh~ and Puc! Company, when the same, ~all
have been purchased by ~he said City of Bre.merton".
Every ~oter voting af~ains~ said proposition last ;:.,hove specified,
shall vote a~ ballot containin~' the ,..;~ords:
"~;~inst the proposi~ion as set forth in detail in 0rdina~ce
~ t~O of the City of Bremerton, that the said ....... o~ B~emerton
shgll fur~hei' issue ~ts sp~ ~ial electric light and power ~
warrants or bonds, payable out of the reveunues of said
in ~he furt[~or s~n of Thirty-five Thousa~
~ ~jo~, 000.00) Dollars,
or so much Shereof as m~~ be necessary for the put!mae of makin.~- im-
provements, additions or e~tensions to the existing electric l~fht
a~.d power system of ~he Bremerton-0harleston L~ght and
Oom~an$, when the s~ne s~ll liave been ourchased by ~he said City
]r~sr ~O M,"
Said proposi ions s]~ll be printed on a ballot to be provided for
sa~d specie& election, a~d opposite and to the right ~f each ~oroposit~]o~f
thence shall be prin~ed a blank sq~re 0ne-half (~) of an inc~ in size, within
w]~io?[ ~][e voter shall signify bN marking with a cross whether he votes for
or ai~ainst the proposition submitted.
Section 6. If at said. special elocution to be held as provided for
in ~his 0rdinanc~ ~ major~o~ of the voters in maid City voting a~ said eleot~
- ion and upon said propositions, shall vote in favor of the proposition
2s ,~ro ~osition No. 1, as set -forth in thins ordin~%nce, thereupon m~.d thereby
said proposition for t~e p~chase of ~aidelectric li~<ht and power syste~ of
-_eht and Power Come, any, shall be and become adopted by
said Oitl~.' ~ But if ~he maJori$]; of said voters ~oting at said eleotion upon
said proposition i~o, l, shall vote against the '
. p~opos~tion a~ therein set
fo,.th, s~id proposition will not be adopted by said City, and this Ordinance
shall be ~'~enceforth null and void, m%d if three-fifths of the voters of
~.,.,~.~ election voting ti'iotech, vote~in favor oX the said City of Bremer~on
becoming indebted in the s~ of ~venty-fi~ve Thousand (~25,000.00)
for the payment of a part o~ the electric ligh] and power system, az~d other
property, o:f7 the s~tid Bremerton-Charlsston 5i~;nt md ~uel Oompm%y, and
issu~ its negotiable bonds therefor, and' that it shall further issue its
spools! electric ligh'~ and po;zer <~?und ~7arrants or horde, payable ou[; o? the
revenues of~ said system, in the s~!~ of Sixty-five ThouSand ($65,000.00)
-Dol2a~:,2, gg set forth in Proposition I[o. 2, detailed and set out in this Ord-
ina. ncc, thereupon said proposition shall be and become ad~vpted by s~id City,
but othe~vise said proposition shall not be adopted and said bond
shall not be created Ordinance shall ~s null and ,void.
4?0 (continued) ,~,~.
If ~he said proposition ~b. at the City o:£' l~remerton shall furtker issue
i~s special electric light and po~ver fund warrants or bonds, payable out
~he revenues of said s~ys~em, in ~he sum off Thir~y-ffive Thousan~l (35,~00.00)
~ollars, or ~o :~uch thereoff as may be necessary, for ~king of improvemeni;s
additions ~nd extensions ~o said electric, light and power system when
same shall have been p~chased by ~he ssi4 CL~y of Bremer~on, be adopted by
-a majority vo~e o.f ~he vo~ers vot~in~g at said elec~ion, ~hereupon said prop-
'Csi~ion shall be ~d become~ adopted by said Cigy, bu~ o~he~s~ said proposition
Shall no~ be adopted and said ~as~ n~med bond indebtedness as se~ ffor~h
proposition No.~ ~ of this Ordinm~ce, ~hall not be created, and in th~' event
Of either Propositions No. I ~ or E be not adopted by the voters ~oting
at s~id election, then proposition No. 3 as herein set forth, shall be declar-
ed not adopted, and the provisions of this Ordinance with reference thereto
shall be thenceforth null and void,
f
Section 7. If the propositions for ~he purot~ase of ~said electric
light an~d pov~er ~$stem and for the issu~ce of the w~rrants and bonds herein
provided for, shall be ado'p~ed at said election, the City A, ttorney of the
: 0i~y of Bre~orl;on shall ta]:e such procee&ings as may be neces~',~y or proper
to acquire said system a~ property, rights, rights of way, easements.and
provisions, to secure, title &'hereto, and all omsts, disbursements, and
be p~id out off the c;onies provided f~om the s~le of said second series of
said special electric lighg and power warrants or bonds, and said first
s~ies of special elecSric .ligllt and power warrm%ts or bonds mai be del-
ivered to the vendors of said system and propert~ in ps,sent ttlereof, as
sai~:~ ~m~doru may elect, ·
. ,~=,~,~zo.n 8. I.~ the p~o~oszt~on ~o zssue speak, al elo~r~c lig~ and
power; fund w~r~.~xnts o~ bonds in the ~u of ~:'Thirty-five Tt~ouSa~ {'~[~5,000.O0)
Do.ars J'o~ ~hs purpose of making ~e imp~ovements, additions g~d ~xtensions
off s~aid system be adopted at s~:~id elec~tion, it sh~all be t~'~.e.~ duty of theCity
0o~mcil of the City '~,ff Bremerton, under and by proper resolution, to cause
~o be Z~rapared proper detailed pianO-and specifications therefor, wi-th i;he
es ti,;~at ed cos~ thereof, and sk~ll cause to be advertised a no~i~e ca~li~g
for bids for the const~ction of such improvements, additions or extensions,
as may be deter'mined upon, stipulating therein that bids shall be made in the
n~nner i~,rovided for ~d ~hat the contract shall provide for pa~ent ~hereof
on!.~ i.~ ,azz~nt~ cz b~zm.s at par, or the proceeds thereof, drawn upon and
payable out of the "City of Bremerton's 6pecial Electric Light and Power
ne~o~aftor cre~ted and established,
bonds n~m~ezicall~, to ~ne amount of ~ventv-five~ Thousand ~k25 000;O0) Dollars,
face val~e, o~3 the proceeds thereof, and ~f the said elsot~ic'~ight and 'Dower
fund warrants or bonds, to the araom%t of Sixty-five Thousand ( :' ~
v6 o, 000. 005
Dollars, face value, shall be used to pay the purchase price of and for
the a~uirind?, of said system and property, and the necessary expenses in con-
nection therewith; that the construction of~ny improvements, additions or
extensions of s id system, or the:~'urnishinsj of any materials, machinery or
equip~en~, or labo,-therefor, or. hereon, '~o contractor or other oerson,
firm or corporation shall nave any claim whatsoever against the City of
Bremertou e~:cept for s~id warrants or bonds, or ~he proceeds thereof; that
any and ~ll of such im'~rovemenSs,. ~dditions and ex~en~ons, and all labor,
materials, machinery and other appliances or equipment contemplated m~der
by' virtue or this Ordi,~a~.oe~ and the time ~d manner of pa~nt therefor,
Shall be ordered by a proper resolution, duly passed by said City Co~mcil of
the ~/~i~y of Bre~erton.
Section O. In the event the proposition that the City of Sremerton
s~all become, indeloted in the sum of Twenty-five Thousand ['~;'~,,~,000.00) Dollars,
snd to issue mrs negot~aole bonds therefor, ~eadopted by three-fifths~vete
mt sa~.d special election, then twenty-five, [f~5) bonds of the City of Bremer-
ton shall be prepared ~der the direction of the ~,Ia~r of said, City, sai<l
bonds shall be of the denomination of One Thousand (~l,O00.00) Dollars each,
Shall be uumlered" ~ consecutively from cue. ~ to twenty-five,~ both inclusive,
shall bear interest ~%t the rate of not exceeding six per cent [6~) per annum,
payable ssi[~i-a~nually, shall be payable on or before twenty .(20) yea.rs
.late, m.~.d shal in all respects ~'~ompl~-~ '- wi~h the laws of the State of ./ashing-
toe autho'~izing the issuance of like ~o~ by m~ieipal corporations.
S~id. bonds shall be substantially in the followinqI form:
n~ r 1
NO.
corporation of ~he ~hir~ class, in the ~a~e cT 'Jashing~on, for value received,
l~omises to pal ~o bearer, One Thousand [1,000.00) 3ollazs, in
United zta~es, on ~ke firs~ day of , 19 , with ~n~.,~.e-~ th, ere-
on a~ the rate of six (~ per cen~ per ~nmm], payable sem-am~ually on the firs~
days of January and July in each year, In like gold coin, upDn presentation]
the coupons hereto a~taolle~, as ~hey se~erally bec~me due; both princl~,al and
- ~ ,,as~iDg:ton in the
in~eres% payable a~ ~]m Fiscal =~ency D~ ~he Sta~e of :"~ ' ~
~ate oz-i[ew Yo~ck.
~;m~o bond is one of an issue of the C=ov of i:remcrton'o oleotr]u and
po~vor sy~;[;eH1 bonds issued for ~he purpose of go~lirillg, purchasing-j, J~tx~ ~?c~' pa, rt
paymout of the purchase p~'ice hy said ~ty, of tho ?reseit~ electric li~]lt
an:l powe? system, and other ~:ro'oer~y, of ~he Bremer~on-Oharleston Ligq~: and
Pue] .... Jom'~J. nv~ .., ~'he,. sc:::e to be o~,v~e~, oontro].le~ and opera~ed by 'sa~ Oi~-~y, all
of ~,vhicli issue Sf 5ends is limited ~o ~ven~y-five Thousand (~'~
~.~,o0u.. 00) Dollars
" ~t~, passed by the ~,ty
as authorized by 'Ordinm~ce No. 4~'70 of sa.~d '~' -
thereof o~f the 4~h day of Auf~st, fk.D l'91Z approved bI the ftayor on the
~t% ~. , , .
day of ' ....
..... =u~s~, ~k. D. t9%g, and rg~lfie~ by a ~hrse-fiff~hm vo~e of ~he
qualifie~ electors of sai~ electors of said 0i~y, a~ a special e!ee~ion
dul~l called and held' on the 26th day of Amrust,' %913, and is f~ther auth-
orized by the l~ws of the State of ';;ashington, a f%~l copy of v~ilich Ordinances
~P~ la~,fs is printed on ~,ao back hereof
.Lnd the Oitv of.~..-~¥~F"~m~,._r'~,.c~, for the further assurance of th.e pur-
chase~' of this bond, and of euch successive holder hereof, )~ereby finds, and
deolar,?~s th. at the same is issued in pursuance of and in str~o~ eompliunce
wzt~ :~e laws of the State of Washington, and the said Ordinance No. ~70,
and all that acts, ;hinge', elections, orders, ordinances, reSolj~tions and con-
ditions precedent to the right o'f said Cit~[ of Bremerton to is~.~ue and del-
iver t]~is bbnd a~$esc-ibed by said laws, Charter and OrdinanceS, ,have hap'p-
cued, existed and been done ~,~'~ performed prior to the isse ]~ereof; Tha~
thid boi~d is issued in payment for propertynecessary ~e~ the acquisition
~nd ownerskip of said ele%tric light and pow'er sys~tem; that this bond is a
valid u,'nd bi~ding obligation upon 'the ~mt~, of Bremerton, and that its"
does no~ vi lafe any condition, provision or limi~afion in fhe constitution
or Law~ of the ~ta%.. of Washington.
.i.i]~ ~I,~2~OF Tlfe City of Dremerton has caused this bond
to be signed %his bond to be si.~ned by the M~yoF of said 'City, add ~tte~ ed
by the City Cl~rk, under the seal of saih Cit~, and ~ias caused the coupons
d and attested by the lithograph signatures of
hereto~attaohe~ to be slgn~ . _,, :-~ ~
saifi Liayor and Clerk respec~ively,,under the
seal of s~d ~ft., .h~s f~rs~
~ llayor of' thd Oi~y Of ~fmer;t,ml
.It fleet:
~!ez,~ o ...... ~ ity of Bret';ter~;oll,
2he s.a~d ooii.pon sl..ail be iii substantially the follo"ing f~rm:
"For value receive.L, the City of ]]re,:ierton, in the State of ',fash-
inF~.ton i~iil pay ~ bearer, at its ~iscal Agency of the State of Wastiin~tou
iii the Jity and orate of iielv York', in Gold Coin of the
Unite;.~ _tares, being sii: montiis intO?eSt due ~m'"tlie' firs~ day of
19 , on its electric light'and power system Bond ~
the :J~t ~,:~ ,.',-,f' Dremerton
'~rJpo:;ition t]iut tho
gectiou
10.
indebted in the su?a of L~',ent~-:[i:e Thov~s:.'nde( ".'.~,000 00
[~ :~._~. .~ ....... :.~f~.~oa 017 +'" ~ilz'o~,~e
~ d=ao~;z~ .... ~on.o .... ~z~,.: f.~ec~ (,,500.00} Dcl!ars eack, shall l)e
ed from One {1) ~o O:':e tlundre~ l!!irt;F {!40) botk inclusive, ud si.~l'r
interest . ~' [":~, r~e of six per cent; {Ge;) pot azu'n':m, ', ...... ~',~-
~., ,~ .. ~,~0TM ,:
shall i:e pa:~'~-~.~:, '~ as foltowo: ,,~od~"" ~ '~ ~.00 ~ul~;~ ~ - 1, ,191,1,' ~2500.00 ~,,n~ua~y .......... 1, 1015;
and '~00.00 8n each of .... ~ *'
......... ¢ ~hereaf~ez'
full-"- : '~
........... "~ ~ all ~ . '": "'
~,~1~ ~ .......... 1. iu 7espee~2 oom'oly vilN~ ~he.i~ws of tile
.....Ja,~l ~'' ' ........ t,o~t ',"n:cl~ a'ntnorize N'ze i~suanae of such bondsb-"~,}., mta~z~...ip~l' ' ~"~. ,', e'..~,~. ..... )or-
_ .~ ........... ,i :..s:~i0,~,., _~ .._, ~... ,..~,~.: ,!~u~ ...... , ,., .~. _~: 0J "'. '~"':~,, ~,~..,._":m ,"~,'- :'._:. .
~oi~: O~ _.: ..... :~,. los, on tke da~. of ,l. gl
ili{:':~.*- .¢~ ~"*' ~' ~ '" - ..... '* ~--
0~ N , -:'o~;s r~,'e:Fue of t~:~: electric light ~.t~ power DyS~D 0f .~.'t
in~::,,:,::, 2'0. ~5"0 of s....i,S C!~p, ¢.vppz'ove& ;,usust 5~k, !9!5,
~-.,0 00) -'"' '-~o' rue Oily of n .... , ......
- . ~o].l~i,~ e-~ .1 :].SS'L'.,e&' '-
k0~ze:~ Ptuid l/o. 1" .,?or!deal :~
for ti:.,;, p~ti,l)oso ¢,~ ,)%rc]lcsint; :And p.~.~yinT; Col', owning', holding' and c'onf;'roll-
'PI]al. '3o:.1 k~n".. ~ , fo',,~ ~he purpose of ln*oviding necessary facilities Tor SUl)ply-
. luff the u:~ sit,. ~ "q':':"~ .... "~' _m! ) '
...... cto~:~e~ ~:io, , ~u',"';,.. ,~,_,,,~,.:'~"'"' .~xd o thez~ purposes, and ~re i,~5' '~,.
he:re?? de~ re& that i:i~e "Oity of _.~3..:erton ;Speoigl m
..!:c~ri3 Light and
Puzi~ 2o 1" is ~ ~ut lien t,,po.~ th~ z'avenues and o~.,},e], income of ~]~e said
Dret.~e:rffo:t electz'i~: !is'kt and power system, cmy o~tln~n~e-~ ' '- " , ,reso=.,.tion,~ '~
..... ~on ~,~ az ,, no %vel thstandiNS.
.~id the C' ty of 3.remei'~Ot~ keret,5 covenants and a~rees wit}]
holder of this i.,o~d, that ~aid ~., will :fi'om time ~so time in ~}~e manner
~rovided in said Ordiuanoe ilo. 470, cause to be se~ aside ou~ of ~he revenues
received,fro:it s;~id e!eot;ric li.-dtt and power system, aud p!aoo ~ ~ in
~he said"Speoi~l ~lec~ric ~i.-:.'h~ and 2'owe~ Pund No. 1" Suf~icien~
~o i)~Y said bonds.. . ~r¢ ........ t~,e i~te'~'esl thereon., as ~hey 8ha. ll .-'u~u2e, ,:md ..... ag~', '~ues
~ha~ a.'b eaoh ~'n~ezes~ perto~ here~n 'nrovt&e& ffo~ ~ w~ .... ~- ~-~
in said ,fun& ~o ~ne p~;'men~ zn ~he fi~s~ plaoe off tke semi-annual in~e~es~
on all said hostels, and seoondly tonthe pa~ent 0:6 the DrinCipal of said bonds
in the~ ,...nv:::eri~al order uonm~n~ing Jlttl nl~lber-one, .
all of o.,..~
.... ~,.. bonds and ~he interest ~hereon shall 5e fully
An2 for ~he furSher assu~anos of the ho!~er of sai~ bon~8, it
heret:,v 'fo'tul& anl cleo]areal that th~, s'ul 's '' ~ - , - :
wit]} ~;he i~',:'~, ~:~..td that ali ~cts, tkings, orders, 'ordinance~;esolutions,
Conditions p~eceden~ to the right tp issue an~ deliver.thi~'~ond have happen-
ed, existed and Been~ ~one and performed prior to the
,,~,..~o ,,%.~.~0~ ~h~ Oi y Bremerton Has caused this bond to be signed
by the '.'~yor and countersigned by th~ City Ole?k, and aires'ted by the s~eal
of sa. id O~ty~ and has c~used tl~e coupons hereto attached to be signed and
attested by tbs zitno.'~raph signatures of said ~ayor and City Clerk resoect-
ively. ....
Attest:
;~Zerk of-~i-6--C'
A~d sai~d coupon shall be in substantially the follou~ins:
"~'or value receige' d,. the'City 9f Dremer~on, State of ....... -ash~n~"~.on, will
, ~oen~y of the tare of ~,;ashington, in the City
p~y to bearer ~t the Piscal ~ ~ ~
and State of He~'z York, out of the revenues received fro~ its"special eleot~'io
light rand power f~d 1To. 1" ~ifteen Dollars, in gold coin of tt~e United
States, being si~ months' interest due on the first day of . ~, 19~ .,
on its "'Sper~ial Electric Li~.~i~t ~tnd i~ou'er Bhuld IIo. l"
x[~ rest:
Sec tion ll. ~'.~-'~.~t if the .nropo~iti°n that the ~.t?. o ? ~'~" ........ ~,~ .....
beconase-indebted in .the s%m of ~A?enty-five Thousand, (~,:.5,000.00) Dollars,
~s 'hereinabove set forth, and also authorized to issue its special electric
li~-ht ttnd po~%'er fund bonds ih the s~r~ oi' Sixty-five ~houst~nd
Dollars~, both of said above descz-ibed bends to be used 'in pay~t~:nt of t!~e
electric light a~'~d -,powe~~ system's;, s~nd o the~ :2:coperfiy now o~rned and controlled
uompa~%y, so to be purchc~sed
by the Bre~]erto~-Ch~z'leston Light ~%n.d ~'uel '~ ""~ ~
by ~he s?~.id City of Dre~uez'ton, [~nd shall further authorize at s,.~..id speci~l
ele,stion tha~ the sstid ~ity of Bre~]erton issue its special elect~:'i~
ti. ?h~ and .... ' -'~' '¥ '~ ~ ,
Tho~zs~nd {~[~5,O00,~)Dol!~%rs, o~" so ]nuoh thereof as ]u~y he neoes~e, ry, for
the pu~pose of m~king improve~:~ents, additions.[~nc] extensions,. ~ ,.: thereto.. ~ ~' and. such
other e:cpenses i~s ra~%y be neoessaz~y in connection with ~he ~old~z~u o.~
election ~]~:d other e~[~enses inoid, u~tal thereto, then the City~ .°'~'~ Bremerton
. ~ · ~_ ~'~ . .
shall issue u,~rrants or bonds to the a~:~ozmt of ca, id zh~rt, .five ~ho~s~nd
[]:~;5,000.00) Doll&rs, dr so ~zn~gh thereof ~s may be neoess~y, the same
to be, 'or~')&red ~der ~'~9 dmrectmon cz the ~,~[yor of the. s~,~d Uita, sJh~!l be
~' t~'~e denom~].~tion of ~ve ,~undred [~500.00) Dollars each, shzll
ed ~onseoutively from one (1) to seventy (~0),, both inclusive, ~sh~ll bear
interest ~t the z~t9 of seven (9) per oe~t per ~nn~, pa~ble se~i-~nually,
sh~ll be p~w~ble ~n or before twenty years ~ftSr date, ~nd sh~ll in ~ll
z'espe~s comply with the laws o~ the State o:f ~lashlngton v,~hlci~ ~uthorizes
the issuance of such bonds by municipal corl~oratigns, said bonds and ~he
coupons thereto attached, shall be insubstantially the form set forth in
~ection l0 hereof, e}:cept the sa::~e shall be known as "City of Breme~ton's
~ecia~ Electric Light qnd Powe~ ~d IIu~ber ~o" and shall be a ~econd
lien upon the r~:tes, revenues and other income o.~ said electric li..,~t and
Section 12, So r~z~zny off the last above named 'bonds as ~nay he nec-
essary to pay ~: .... costs of the special e~ectiSn and securing l~"uds rlgh~s
of ~,~y, easements, p~iTJlcges and property necessary fo~" t'he construction
be sold in such manner as the City Council of the City of Bremerton [~hat!
deoz:~ for its best interests, and ~he proceeds thereof shall be wholly
devoted for ~he puz'pose~ herein~bove se~ forth, and when all costs and
e~:i)enses shall be provided for, the ~sold portion of said~ bonds shall be
d e ,~ tro ye ~..
_ Seoti~n 15. ~ha~ t]~ere be and i~ creased an& ~st~blishe~ in ti~e
Tz'e~[sury.of the C~ty o~' Dre~uerton a f~d to.be ~alled. the"Oity of Brer,~erton
Zpecial Electric Light and Y'J~wer Pund", whioil func], is erect, ted and is to
be ctz'a~n u',2on ~ ~ for the sole purpose of defraying the cost and
~ense of the purchase of s~id electric light and Dower system, ~nd the
rove?4ents, additions ,~nd ~tensions to the electric light ~nd ~]ower
system so to b9 purchased ~nd controlled ~nd cz)crated by the s~id City,
speoiTied ~z~d ~dopted by ~he terms o~ this Ordinance, ~nd r~tified by. th~
ou(.,~ interest ~s ~h~ll
vote ~t the election provided for herein, together u'ith ~
~,oorue, ~nd the said bond or vz~rr~nt obligations issued in p~y~:[mnt tibet"eof.
'~'~zenever the City of Bre;~e~"ton shall hezve sold ~ny of ~he vza:rrants
cz' bor~ds upon the "City of Bren~erton Special E].~otric Li~:~]~t ~%nd Power
or shall ha. ye delivered an.j of the bonds in p~ynlent thereof, o~~ shal~
contracted u,i~h any person or ~ori:,oration Tot the construction of ~tny. i~.~prove-
men~, addition o:e e~:tensio~ o:ff said ~ms~tr~c~ ~ ~ '~ · ' lisht~" and power system, and agree
to pay therefor with warrants or bonds upon m~id finds, and fiheret~fSer as long
as any ob!iga~tions are outst~ndinrj ~tzains~ said f~n~d the City Treasurer shall
set aside in the "3ity of Bremerton's S'~ ~
. p~cial Electric Light and Po~ver
~ oarni~.gs and credits derived from ~he electric
light ~:~d~power system belon~ing to or which ma~ hereafter belong to sai~ City,
the szu~ of. not less than ~;~l~,O00.O0 am~ual~y thereof. ~kll money so sst aside
and placed in said "City of Bre~erton's Special Elect~n Light and
~d" shall be applied solely ~o the pay~ten~ of the principal and interest of
said warrants or bonds, issued ~gains~ said f~mds, in pa~ent of said electric
light ~nd pov~er system, and the i~nprove~nents, ~dditions an~ extensions thereto,
and in sase of the issuance of said w~rr~nts or bonds, the s~ City hereby irr-
evocably bin~:i~ itself ~ot to ~0ell, le~se, o~~ i~.~ ~,/ ..~ner d'~..~,pose o:f~ its
tei'i~ , t.tl ~i.~ ob[L:Lg~ti,:)ns issued tlierefor hez'einunder, witii interest
t!l~eon, shall liave been paid in full, or in ease s~id City should sell or
otherwise dispose of the s~me before said Da~nent, said. City agrees to pay out
of s. ny ~nonies del'dyed ~
zrom the sale, or otiier disposition thereof, all of
said obligations that shall tiien reiiiain lulpaid, and that in any event it v~'ill
not sell s~id system for a si~ less than enougii to pay all of said outstanding
' Obligations, ~i~h interest ti:.ereon, and said. City binds itself to ma~intJin
its rates oi' ctiarges f3r electric light and power so t~hat the annual gross
revenues thereof as ~erein defined, sha~ll ~olnit to a slun which shall be suf-
ficieiit to pay the cost of ,~laint=ini~g and ogerating said plant and the paymoi].mt
irin-~pal and interest of said ~vJri'ants or bonds~ luitil said
obligations shall ' ~
~ ~i~%e been fully liquidated ~:~zi.d discharged.
,~ectioir~ 1.~. Tii~:.t i,i o~se the contract authorized by the provisions
of this Ordin~noo fez. tide coii~truotion of iniprovements, additions and ez.~tensions
to the s~l'].d olectzic light ~.nd power system, be duly entered into as hereinabove
provided, i'~rra.ilts or bonds shall be drawn, payable out of tide "City of
Bre~liertoi~'s Specisl El~'~oti'io Light ~n~i 2ox~,~r >~d No. ~", in such aniolmts
and at su~ti ti~ies as i.~iay bo required for the pa~vnezit of the contract price
for~ the construction a~d uo,npl~tion'~ ,~' e ' of.s~iid improve:nents, additions and e~cten-
Sic.ns, to the s:.~id electric light. ~d power syster~i of said City, ais authoz'ized
b~ this urdili~loe, an~,l t~ie iuajority vote at the election liorein provided for
~and in accoi'-daiice wit~i the contriver. That the warrants or bonds do l~sued and
~?~elivered to the contractor or sold as may bs ~etermined by tide Cit,>..~ ~mmcil,~ ·
shall be issued a~id delivered only upon ',~rop~rly a]~proved e~tii~lates and
olai~as to ali a~iio~t not e>~ceeding slioh c$iitrl.lct price, and sai,i~ additions
as ~,lay be law:fully inade tho~et~' ~.
Section 15. The City of Bre~iei'toi;~ s}i~ll not be subject; to any further
or o.~ie~' liability for the paylnent of tide warrants or bonds, or the interest
thereon of ~]i~ ,~
, .~ of Bremerton sgecial electric light and power system i~funds
'nlu~ibei- one aiiid ~vo, iierein authorized, than is expressed ~nd provided fo~i~ in
this Ordinauce.
Section 16. ~lll t~ ~onds cz' warrants provided to be issued by
this Ordinance ~nay be registered by the ov~ner thereof by presentation to the
City iYeasurer of the City of ~r~nerton, and procuring his notation of thc nar~ie
~Of the ',9~yoe eli the back of suci~ warrant or bond. i~ter such registration
any sucil ~ii'rant or bond shall be ~.~J~ble only to such registered payee, or
~his order.
o~otion 17J This Ordin~nce shall be .in ~ull force ~d effect fro~
five (S) d~zy~; ~fter its p~ss~;ge, ~I~rov~l and publication, ~ccording to lavz.
passed by the Council this ~th d~y of --ugust lOl~ t~.nd mpproved by me th~ ~th