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HomeMy WebLinkAbout0471 0RD INANCE N0. 471 :~N ORDINanCE submitting to the voters of the City of Bremerton that the City of Bremerton issue its general bonds in the sum of Four Thousand ~it4000) Dol- lars or so much thereof as may be necessary to become an indebtedness ~:~gainst the city of Bremer~on I'or the purpose o±' purchasing and improving a site for a public library, said bonds to be ten year bonds and to bear interest at six per cent per annum; providing for an elect±onto vote thereon and providing means for the pay- ment o'~' said bonds. ~THf~REAS: The City of Bremerton is without a suitable library building or a suitable place for the accumulation of a library, reading rooms and other conveniences con.ueoted therewith, and ~HE~E~S: It is proposed to secure the erection of a building and appur- tenances thereunto from funds to be secured from the "Carnegie Library P~md" to be donated to the City of Bremerton upon the furnishing o£ a suitable site ~here- I~or and the provision of a maintainance fund annually of not less than ten per cent of t~e costs thereof, and WHEREAS: The Oity of Bremerton has no suitable si~e therefor and it is necessary to purchase the same and the cost thereof together with the improvements theron is estimated at the sum of Four Thousand ~4000) Dollars. i;0U THEf~tF~01~d~: ~fhe 0ity Council of the City of Bremerton do ordain as £ollows: - Section 1. That the i-Jayor and the City Council oi~ the City of Bremerton do hereby propose and submt~ to the voters of said city for their ratification or rejection by a majority of three-fifths of ~,he voters voting thereon, at a special election to be held in said City on Tk~e'~day the 26th day o~if August, ~. D. 191J, the proposition that the City of Bremerton purchase a site upon which shall be builded a library building, the funds for which library building shall i~e secured ±'rom what is known as the "Carnegie Library Fund" , which site shall be paid with bonds to be issued by the said City of Bremerton czo the proceeds tnereof~ the same to become an indebt~dness against the entire City of Bremerton. Section 2, The price at which said site is estimated to cost is sma o~~ ~our Thousand iSA000) Dollars, the same to consist of ample ground and frontage upon one of ~he principal streets o~~ the City of Bremerton, upon which c~n b~ ~onstructed, erected and maintained a building costing approximately '~venty Thousand ~$~0,000) Dollars, the £und~ mcr which said building is to be ~onated by the Carnegie Library Fund hereinbeI'ore rei'erred to. Section ~. That a special election shall be held in the Ci~y of Bremerton on T~esday the ~.6th day of August, ~. D. 19lB, an~ in the several precincts into which the same are ~ivide~ for the p~rpose of voting thereat by th~ voters of said Oi~y upon the proposition submittea to them in and by virtue o~~ the provisions oI~ this ordinance. Said election shall be held at such voting places in said sevo~'al precincts and shall b~ conducted by such i inspectors and Judge.~ of election ~s may ce respectively designated and appointed for holding and conducting the same in accordance with the ordinances o.i~ ~he City of Bremerton and ~h~ lay, soi' the State of Washin;5-ton. Thc city cle~'k shall give at lea~t ten days notice of the time, place and purpose of the ~said election ia the official ne~vspaper off said City, to-wit: The Breme~'t0n News. by publish±n6' in each issue o~' saia paper during said time a proper notice of such election, whioh noti,~e shall~includc the proposition hereby requi,:'ed to 'be submitted to the vot,~rs ant~ tf~e i'orms oi' ballots to be c,~st ~'or and against such proposition to be as prescribed in this ordinance. .~ection 4. The proposition submitt ~a to the voter~ of the ~ity Bremen'ton in and by tile p~'ovisions ol' this ordinance sha±l be voted u~on in t~:~e following manner, to-','~it: Ev:~ry voter electing to vote in favor oi' said proposition that the City of Bremerton purchase a si~e Z'or the erection ~nd maintainance cz' a libra~y building and provide for ~he payment the~'eoi' by ~he issuance or the sale of bonds in t:~e sum oi' Four Thousand f,~.,4000) Do l~lars or so much thereo±' as may be necessary in the manner herein provided shall vot~ a b 'i]ot containing the words, "In favor of the proposition as set f.'.orth and detailed in Ordinance No. AT1 to purchase a site for the erection and maintenance o±' a public library buildii~g and the issuance o±' general bonds again:~t the City in the su~ of Four ~,,~aud [$$¢00) Dollars". Every voter electing to vote against said propo'.~i~ion last above spec- i±'ied , shall vote a ballot containing the words, "Against the proposition as set forth ~nd dotaile~ in Ordinance No. 471 to purcha~o a sit~ for the erection and maintenance of a public library building and the issuance o±' general bonds against the City in t e stun of Four Thousan~l ($4000) Dollars." Said proposition shall be printed on a ballot to be provided for said special election and opposite and to the right of each proposi~ion there shall be printed ~ blank square, one-half oi~ an inch in size, within which ~he vetoer sha. ll signify by marking with a cross (X~ whether he votes i'o~~ or agginst the proposi~ion mubml ~ ~ed. Section ~. IF at the said speci~l election to be held a~ provided in ~his ordinance &~ majority of three-±'i£ths el~ ~he vo~ers in said City vo~ing s~id election and upon said proposi~ion~ shall vote in favor of the proposition a~ set i'orth in this ordinmnce thereu~on and thereby s~id p~roposition sh~ll be and become adopted by ~aia City. Bu~ if the m~jority of said three-i'if~hs of said voters voting at said election upon said pr.~posi~ion do not vote z'or saia proposition as th~r~in se~ ±'orth, saidproposition will not be adopted by said City and this ordinance shall be tLencel'orth null and void. Sectior~ 6. If the propo~i~ion for ~h~ purch~se el' a site for ~ library building and the issuance of bonds herein provided for shall be adop~e~ at said election ~he City ~t~orney of the City of Bremerton by and under the direction of the City Council of the City of Bre~er~on and the Library Board of the City of Bremerton, shall ~ake such p~-oceedings a~ m~y be necessary or proper to acquire title ~o such property as may be purchased therefor and secure title the~eto and all costs, disbursements andthe purchase price thereof made or expended therein or in relation the~'eto may be paid out of the moneys provide~ I'or the s~:,le of said bonds. Section ~. In the event that the propo~ition that the said City of Bremerton shall become indeO~ed in the s~.~ oI' Pour Thous~nd ~$4000) Dollars and to issue i~s negoti~ble bonds there±'or he adopted by a three-fifths vo~e of the people ~ot~i~ b~reo~ ,~t such speci~,l election then eight bonds o£ the City of Bremerton sha~,be~prepared uno, er the direction oi~ the ~'~ay~r of s~id City; bonds sh~ll be of the denomination of Pive Hundred ($~001 Dollars each; shall be numbered consecutively from one to eight, both inclusive; shall bear interest ~t the rate el~ no~ e~ceedin~; six per cent per ann~m, paya'Ole semi-an~ually; shall be payabl~ on or before ten year~ ~er date and sh~ll in all re~pects comply with ~he laws of the State of ~'~ashington authorizing the issuance o~' bonds o~~ li~e amounts by municipal corporations. Sa~ ~nnd~ shal~ be in substantially in the following forms: "UNIT,~D ~T~T~Z OF ~;~,~IC~, STATE 0~~ '~ASHIi~GTON. CITY 0E BRE~2t~T0~I NO. $500.00 PUBLIC LIBiQARY BOND KN0'~f ~LL ~.,~N BY THD~O P-,~;SEN'.L'~: That the ,City of Bremerton , a m~icip- al corporation of the third cla~s in ¢he S~ate of ~¢¢ashington , for value received, promises to pay $~ bearer, ~ive H~dred ~ollars tn gold coin of the United States, on ~he first days of ,1~ , with interest ~hereon a~ ~he rate of ,per cent per P~y~ ~ ~, emi-a~ually, on the firS~ days of and each year i~ ~ ~.~ls ~oin upon presentation of the coupons hereto a~tached as ~hey severally become due; bo~h princip~l and inter~st payable at the ~iscal~gency el' the Sta~L~ of ~aohin~ton in the City and ~ate of Ne~-J York. This bond is one of an issue of t~e City of Bremer~on's ~blie Library bonds, is~ued for ~he pro~osition oi' acquiring, p~ch~sing, owning and holding a si~ for ~he erection and mainten~nce of a public ~i~rary all of which issue of bonds is limited to 2our Thousand (~4000) Dollars as authorized by 0rdin~nce No. ~71 of said City, pas~ed 0y the City ~o~cil ~hereof on the 4th day of August. A. D. 1913, ~nd ratified by n three-l~ifths vote of t~e qualifie.~ elector-s of ~aid City at a special election duly called and held on the 26th d~y of ~u&~st , ~. D. 1~913, and is i'urther authorized by ~he lau~ el' $t~e Sta~e of ¥~L~shing~on, a full co~y of which ordinance ~nd laws is print~d on the b~ck hereof. The City of ~remer~on for the I'urther assurance oi' tl~e purchaser of thi~ bond and of each successive holder hereof hereby find~ ~n~ declar~:~s th~ the s~ne is issued in p~ suance of and in s~rict compliance with the laws o~U the State of Washinjton , and the s~id ordinance No. ~l, that all acts, things',, election,s, 0RD iN~Ci] N0. 47~ ( co~ t inued ) -~ ~) ordez'~, ordinances, resolutions and conditions precedent to the right of the said City of Bremerton to issue ~nd deliver this bond as prescribed by said laws, charter and ordinance ha.~.'e happened, existed and been done and performed prior to the is~ue hereof; that this bond is issued in payment for property necessary to the acquisi- tion and ownership of said site i'or a public library build~.ug; that this bond i~ a valid and binding obligation upon the 0ity of Bremerton and that its issue does not violate any condition, provision or limitation in the constitution or laws of the State o~ ~shington. IN WITNESS ~HEi~O~~ the C~ty of Bremerton has caused this bond to be signed by the l~ayor of said City and attes~edby the City .Jlerk under the seal of said ~]ity and caulked the coupons hez'eto at~ached to be signed and at~estea by the lithograph signature~ oi' said ~yor and Clerk, respectively, under the seal of said City, this 1st d~.y of , A. D. 191~. ...... Mayor of City of Bremert0n. ATTEST: City Cler~ of CitY of Bremerton. (SEAL)." The said cou~on shall be substantially in the following form: "For value received the City of Bremerton in t~e State of ~'ashington, will pay to bearer at its ~iscal agency of the State of 17ashington, in the City and State of New York, .... Dollars, in gold coin~of t~e United States, being s{x mont~s ink,rest due on the first day o~ , 19 ~, on its library bond, No. . Mayor of the City of ~remer~on. ATTEST: Clerk oi' the City 'of Bremerton. ISF~) ." Section 8. ~hat there be and is hereby erea~ed~a~d established in the Treasury oi~ the City of Bremerton a fund ~o b,~ ctlied,. "'City oi' Bremerton Library Fund", which fund is crea~ed and to be drawn upon for..othe sole purpose of de~'raying the cost and expenses o~~ the purch~.se of said site for the erection and m~in~enance of a public library building as speciz'ied ~-~nd adopted by the terms o~~ thi~ ordinance and r~tified by the vote of the electors at the election provide~ i'or herein together with such interest as shall accrue and the said bond obligations issued in pa~unent th~ reo f. ~henever the City of Bremerf~on sh~ll have sold any of the bonds u~on the s id Cl~y of Bremerton's Library Bond Fund, or sha_~l have delivered any of the bonds in paymen~ of the site provided for by the terms of this ordinance and therea£~er as long as any o£ the said bonds of any of the bondedobligations are ou~s~ nding against said bond the City 0ouncil shall provide for and ~he City Treasurer shall ~et a~ide in the City o~' Bremerton's Library Bond Fund a sum of not less than Bix Hundred Forty ($840) Dollars per anntun to provide for ~h~ p~yment of the accruing interest and principal upon ~ai& bond~. ~ll money so set aside and plaped in said fund shall be applied solely to the payment of the principal and interest of s~id bonds. SeoOion 9. All the bonds or warrants provided to be issued by this ordinance may be registered by the owner thereof bj~ preeen~ation to the City TreaSurer o~' the City of Bremerton and procuring the no~ation o~ the name of the payee on the back of such bond. After such registration any such bond shall be payaOle only to such registered payee or hi~ order. Section 10. ~his Ordinance sh~ll be in full force an~. ei'i~ec~ from five days after i~ passage, ap~rov~l and publication accordi~g to l~w. Passed by the City Council and a~rovcd ~y me this ~th day of August, ~, D. lOlZ. AT TE ~ T: ~/City Olerk.