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HomeMy WebLinkAbout0483 OR~INANC~ NO. AN 0IhDIN.~CE submitting to ~he voters of the City of Bremerton, that the Oit~'~ Of B~e~uer~on z'atify and validate its outstanding warran[ Endebted.ness already an& giving authority to issue its general bonds in ~he s~ of Eighteen Thousand NinS:~::. ~'.~dred [~18,900.00) Dollars for the purpose off ref~ing a~d .paying its outstanding ?~rrant indebtedmess, said bonds to be fivm year bonds, bearing interes~ at six ~'.'per cen~ per mm~n and providing for ~n election to vot~ thereon, ~tL~,~.,o: The City off Bre.terton has already incurred an indebtednes~ and i~ 'f~'~ligated upon-its outstanding warrants in a s~n exceeding $18,900.00, the same hav- ~"~hg been issued as general f~d warrants, ~nd ~ ~[ ...... .~2,~, I'~ no~ ~p~,e~rs that cerbatn portion of said indebedness exceeds ¥l!mit allowed by law without a voSe .of the people the?eon, and ~tlZ~E~: Said indebtednes~ ts drawing imterest at seven ~7) and eight [8) per ?~"~"ent per a~, and '~A~: The holders thereof are demanding payment N~W, Tt-[~0~'.,: Th~ Ci~y 0o~mcil of the Cit.. of Bremerton do ordain ~s follows~ Sec. 1, Tha~ Sh~ ~ayor and City Co~cil of s~id 0ity of Bremerton do hereby propose ~md subn~it to the voters of s.,id city for their ratificatio or rejection by a majority of thre~-f%fths off the vo~rs voting thereon, at a special election ~o held in the City of Bremerton on Tuesday the 2nd day of December, ~;.D. 191Z, the Pro- ~ position ~hat ~he City of Bremer~on ra$ify anJ, w~lidate its outstanding warz'an~ ~debtedness already incurs'ed, and ref~ the s.une by the ,issuance and sale of its gen- eral n~go~iable bonds or so mu~h ~hereof as may be deemed advisable, whiuh bonds ~hall bear in~erest at ~!'~e ra~e of six (6) per cent .per anmu~, the s~m.e to become an indebtedness ag~in~ t the entire Ci~y f Bremerton. Seq. E, ~ha~ a special election shall be held in the City of B~em~rton ~ Tues- · .day ~he 2nd day of December, A.D., 191.i, in the several pz'ecincts into which the' Said city ia divided, for th~ ~urpose of voting the=eat by the voters of su. id city,. u?on ~he proposi~ion submit~ed m~der and by virtue of the provisions of ~h~s ordin- ance. Said election ~all be held at said voting places said several p~-ecincts and~ $hall ~e conducted by such inspectors and judges as may be respectively designated and appointed for holding and conducting ~he same in accord~ce with the ordinances sf the City of BremerZon and laws of the State of Washington, The City Clerk shall give at least fifteen ~15) days notice of the time, place and purpose of said eleotio~ in the official newspaper of s~id city, to-wit: ~he B remerton News, by publishing -in eaQh issue .of said paper during said time a proper notice oX such election, which no,ice shall include the proposi~ion hereby required to ~be submitted t0 the ~voters ~nd ~he forms of ballots to be east for and agains$ such proposition to be as pres- bribed in th~s ordin~mce. Sec. [~. The Dropositi:n submitted to the vote~'s of the ~ity of B~emerton trader : and bj~.~ ~h~ provisions of this ordin~.mce shall be voted up3n~in '~Lo f~]lowin5 ';~'. hv~ry vote:' eleetinj to vote in favor of ~aid proposi~ton that th.a Ci~y of Brem, .'~erton ra~ify ,~md ,~lid~.,~e i~s outstanding warran~ indebtedness in the sum of and to authorize ~.::~. is~u~nc~ and ~-~le off its negotiable bonds in the said s~n of $18,900.00, in ~'..e mam~e~' herein provided shall vote a ballot containj ~n~ "In favor' of the i~roposi~lon as set fortk ~nd detailed in 0rdin~nce. No. 425 to rat- ify .~md w~.lid~te i~s ou~st~mdin.~ wa~'rant indebed~eSS of ~he City of .~re,:~.~'i;&n ~lready incu~'~.'ed, in tke sum of ~18,900.00, and to authorize the issuance of gene.~'~l bonds 'against ~ho Ci~y of Br~m~er~.on therefor, or so much ~hereof as ,~ay 'be deemed advisable ~y vot~' electing ~o vote ag~inst said proposition 1. ~t soecifi~d, sh~ll ~ b~'l. lot ~ont~ining th~ words: "Ag~im~t thc propo~ition ~::~ se~ forth and ~in Ordinanoe ~o. -:t8~, to ratify ,~nd validate the outstanding war.,:ant inde'bedness of [ Sh~ City of Bren~ erton tn the m~n of ~18,900.00, and to authorize fha issuance ~o~ gene~'al bo~d. ~:~gainst the City the~'efor, or ~o much ~he~'oof ~ may be deem~ S~i4 propositi~5 shall be printed upon a ballo~ ~o b~ pz'o~ided for s.i.d special election, and optosite to the ~'ight of each D~-o'~osition there shall be p~'inted ~bl~mk sq~ro one-half inch in size in which ~he vote~' sl'~tll si;.~'ni.~?f by .~arking ~'a cross"X" whcthe~~ h~ vo~es for o~ ag~,inst ~he prz, po~i~ien ~ubmi~teu. Ssc. ~. I~'at ~ 5'i election to bm held ~s 1)ravi~l~d for in ~h~s ordin~ Qrdinance~ No..$8~ . ':.~ance, a majo~:ity of' three-fifths of the voSer~ .in said Oity va$ing as said election ~nd upon ~aid pt.)position, sh~l vo~e in' favor of the proposition sat fo~-th in ~his ~0rdi~a. nce, thereupon and ~h~?aby ~id pro:~osi~ion shall be and b~aome adopted by "~.S~id City, bub if the majority of saiJ three- fif~hsof said veldts voting at said ~laction-upon said proposition, do not vote for sa. id propo:~i~i0n aa act forth, said Proposi~ion wil~. not be adopted by ~aid city ~nd this ordin?~mce shall be thence-~: ~orth null an~ void., Sec. 5. In ~he evem~ th~ the proposition that ~he said Oi~y of Br~merton shall ratify and validate its ou~:~tandi, ng warran~ indebtedness in the sum ~.$18,900;o0 and shall is,:~u..~ its negotiable bom:is H~erafor, to b~ adopted b~ a three~ [.~if~hs ~ot~ of ~he people voting there0h at such special ~lection, then 109 honda ~:Oity, sald boiid~: shrill be in b.ne denomination of One H~dr~d f$100.O0) Dollmrs ::: Shall bs nu~bei:ed qonseoutively fi'om oiie (1) to one hl~dred eighty-nine ~lS9i botti .:.finolusive, shall bear intel:rest at ~i~ls ra'~c of not mzoeeding six(6) per cent per annlmi, pay.:~bis sm~ii-ai~ually, shall be p~yabl~ on or before t!i~ five year~ after d~to and shall in aUl resoects ooniplv wi~ti tl~s 1.,',.s of the sta~te of' l'~acllington autho~,i..zing the issu ncc of bonds of like~nount:.:: and for lik~ pucposes by ~mnuicipa] . coroo~-,~ons, ~aid bonds sh,:~ i be in ~:~e usual form 'provided by the laws of · ~ta~e of ~4ashington and,the rdin.~nces of tko City of Bremert;:n, and shall b~: in ~?'su'bs.tan~m. l~y the following fo ' P~,o~.~: That; ~he City of Bremei-ton, a municip:~l ocr :oration of tho bhir al,class, in ~ile agate o2 ~.~ae~hington, ~or value received ~:~:promi%es go d)ay ~, ~earer One H~dred [~100,00) Dollars in golf Coin of tke United ~ S~*tes, on th~ firsb da~ of , lgl , wibh ii'dry, rest ~hereon at t]~e rate of ~[[', p~r cent pet' anmmi, payable semi-anaually on ~l)e fir~:t day'~ of and ' e~oh.year in like Gold Coin upon presentation of ~he coupons ~~ed :[[~h'~z",'to' a~' H~e fiscal agency of the ~ate of ":~,~hington in t;~ City and .;t~e of ?;:? Ney:, Ye z'k. This bond is one of an z:.;~ue off cit'y of' ~:mm~z~on's gener~.l municipal bonds, ~:ltDaying offf its ou2sttndim~,;arrant imdeb~ednesm in ~he s~n~ of ,',~18,900.0,:~, : thoz'iz~d b~ ui-din~i~oe l.To, "" of s~id ~i~,,/, pa2sed by tke~z"' I.:y Cou.noJ. 1 there- i off on ti~e 5rd d~y of Noven~bC'z', and al)P~oved by f;ke Mayor on ~ke J, dr d:zy off ~JA. D 1913, and ratified by a three- fifths vote of the ..... ~ ~ el'fy, at a s.peci~.l elee'~ion duly o tl~d and held on on gke ~n~ © ~ day of D~oe~:~t)~Jz', ~ul=~. au~i~oz'ized by u~e l~ws of tke s~ to of ~.'_~shins'tor~, ~. ffull ~copy of which laws is p~'int~d on t~e ~ack hereof. ~'he city of ~r~mez'ton, for tho further as~-;ur~zlce of the purokasez' of this ~bond, and of e~ch successiv~ holder thee'eof, hereby avows and declarers ~.~.~ Saltt~ is iSBIL$~ ill pursuance ,vith ,~:d in : ~:~'ict compliance with the 1 wm of ~8~at~ cz 6~shing'~n ~ind t..= sai~ ordim~nc~ 'No,, , that all ac~sf thin..a~, ::~l:~s, ordure, or~in~nce~, resolu~i;n~; and cor~c[iti[~is precede~.t to ~n,t ri~:~',:~tof : :~ tt~ said city o'['Br~m~erton to issue a~M deliver ~;his bond as prcscz'ibed by"the ~Said. laws, chart.:~. ~::(i ordin:~n..:~s, hays happened, ~zis~e& and been Rone and per- :~.~ded w~ran~ of tlie sai:l city of ~i',~,.~euton which w.s duly validated a~ld aut!ioz'- ~[:~;~{]~d a.~ ~aii ~l~c~iJn, and that this bomb. is a valid and .binding oblig:~tion ui:on · ~h~ oiL. az Bz'e::~srton sad ghat ica issue does not viol:tie ¢~ny condition , pro-- ~ViSi~nl~imi~:..ti :~ in [:k~ aonstitui;ionor lav~s of tho state .f %Va:kin~j~on. . ~. of Breme:-ton has caused ~his bond to be :By th.~ ]~yar 05 .:::~:~ City and g~te~ted by the City Clerk under the seal of .city and oause~ ~h~,::coupon~. h~:.:eto at~ached to l)e si~:~ned ~,nd s.~:~ested by 'lithogra'p[)ic signatures of ~,,'O. 2~ig;or .::~nd Cl~z.k respectively, l~tder tko seal '~d:i~Y C.lez:k of ~:.e City of ~'emerton. Ordin~.nce No · 83 . Tile coupon shall be in s'ubs~ nti~lly the following foz'm: "~or value received, the City of Breme~'ton, in the S~ate of ~/ashington, will pay to ben, ret, at its risc,1 agency of the State of ~.a~hington, in the Cit:~ and S~ate of Ne/~ ~ark, Dollars, in Gold Coin of the United States, being six months inte~-e~'~U~ °~-the fir~t day of , 191 ., an its g~neral mu~ioipal bond No. · Atte~: ~'yor of ~the Coty Of Oity Clerk of the ~ity o Sec. 6. All the bond~ provided bt this ordinance may be regiut~.~'<od by the own~.r th,~.eof upon ~he p~.esen~a~i~n to the Ci~ ~reasu~e~ o. ~n~ ~ty of and procu~'ing o:f th no~ation of th~ ~.,m~ of the payee on the back of such bond. Aft~r such regis~:~ratio~ any such payment ~ha~ll be l~ayabl,~ o~ly to the p~y~e cz' his ordez'. Upo~ th~ s-~lo oY ~h'~ or all of :~ai'l bomds, t;he City Tz'easu~er shall apply the fftmds realized th r,~on to the taking u.p, p~yment ~nd of s:.~id wa~'ran~ indebednes~., az~d said az'rants sh~ll be c~nce led and fiji. ed offfic:_~ of the City Treasurer. Sec. ?. This ordinance shall be in full fforce and ~ff~ot from fiv~ after its passe, ge, ap[~row~l and publication aoco].'ding to law. Z-assed by ~ oi~o. ~?m~uil and aopro'ved by ~;~ this 3d d~y of Nove~be~', ~k.D.