HomeMy WebLinkAbout0496 ORDII. ,2'iCE 1 0. $
O:d3I_,L=~.:,, authorizing and ~ustr::atin tke '~
0ity of Bremerton to issue Loc~l ~ ..... ' '~
~pz~, ement )ends for ~ooal Improvement Dis ti'itt
No. 57, for t]~e openin~r e~:t~ ,~', ~ ~"
~, ,~,n~,~o ~:tnd lmprovin~ of Front Street in t~ ~,ity of ih'em-
erton, nn(ter. 0rdin~co lie. 505, ~.i<'~ ~ the~ order Df Co,.urt ~.ln~rovin~I. tko ~tsse,~,~.o~.e:."~',. roll
of the Eminent Do,'iain Commissioners, entered December S, A.D. 191Z, for the pa~mlent
of the costs exoen~~'-~ and scorned ii'i*~-~'' thnrao~ *~-,o q"~ h=.vil%S been
and authorizin,r th: delivery of the' same to th~ holders of ~ho uk~rrant~-~ therefor,
or for tke sa!~ ~u% disposition thereof acoordzna to
5!E S ,l f .,O~,.,,.!L __., ~,it:- af 2::n::~erton ac ordain a.s
they are, hereby a~thorized ~ud empowered to issue loc~l fmorovement bondn for
.... :.Lo..san,.~ (¥j6O00'.O0} Dollars. the same l:,ein~ the amount assessed and levied
tn tho said district by the Eminent Domain Co.::.~i,_.~:lonc'~r ~o ,~,o .... of the City o" ~--'~::~cm.,rton~, ,
and a':;n'ov~d ........ by order of ~ .... it, m.o. de and entered In Oause ~o. ~60,.,M ~'" ....... ~'~:,., matter of
U.le :~cti~.[ox of the,,"it,..r~. of Bremert.~n, a muniaipal corl~oration of t~,'~ third class,
that just, comoensat~on. . ..... be made -esr ~ke extending and continuing of Pront S'l:rest,
orov~.ded b,*,, Ordinance No. b~..o of said City, etc., toget],er with the accumula~
crest and cost accrued therein.
Sec. 2. That the mode and form .0f the execution of said bonds shall be as
prescribed by the Laws of the St,~te of Washington and tho Ordinances of thc City
'Bremerton.
2cc. 5. That said bonds shall be issue8 lu series not exceeding sixty (60~,
both inclusive, or ~ many thereof ,~s may be necessary to fm:d the ~mpaid halanae due
to the warrant holders in said district, and the amo~mt advanced by said City of
bremerton from its current expense fund, together with interest, costs and disburse-
ment in said Improvement District No. 57. The denomination o~: said bonds ~-,'~TM~'e
tn the sz~ of One H~mdred [~100.00) each.
Sec. ~. Said bonds shall be pay~ble on or before flv~ ~5) years from date
thereof from the monies on account In Local Improveusnt Fund, Dis~riot~,.~%. 57, appli-
cable :"o:: t~e purpose as same nay be called for by the City Treasurer of the 0~ty of
Bremerton as pr:vialed by
. ~nc ~ws of the
o~ate of Washington and the Oydillanoes of
the City of '" '
-,z'o,ner,,on, to~Xet'har with interest thereon at tho rate of seven per cent
~7%) per annum, said interest to beooae due and payable "semi- · -~.~..nnu~l~,' ~ TM "it_ belnv.under-
stood t.}m.t certain '9ortions of said bonds shall ~,¢ redeemaa by the pa~.:~out bi/ assess-
ment noon property lock, ted tn said improw.<nent district, the balanc,~ o:f :'q~ich shall
be f.~,id by the City ~f Bremerton from it's indebtedne:fs fund as provided by the said
. . ~ ....... ~,~..t roll in s::ia diet:riot.
Sec 5 S~.id bondc ,-~-.-~
..... ~=~. ~.~;ued and delivered to tho m~rchasers there~
accrued intoror;t, aoc~mmlated costs ~;d experts88 thereon under saic: above named
ordin~t:!ce ~in:l 0-,'4er of -* - ',
,,curt in payment thereof, &nliver[~ to ce m~.de a? such times
the ()rdina.no-*¢s of the ,.]'f:y of 31'~m~artou, th~- f'und r3Rlized ~;r tk3 uaP. e of sa~.d bo~ds,
tf any ,:. u,, .,~.n :.-I icg in p:-,i.':nont of the ,mmunt due to the ollrrerlt e ..... .,..
'4' " ' - ' ..... pen,,e f,uqd off
sa.ia city ,.:.lid t]qe redoCnotiou of said outst.-~nding local iinprovement district
SOC. 6. [~}~f~t t]~e O;VllOr~ Df _,i'Op~rt[.r 1oc,ite~ in said ~'uprovemsnt dj. hi:riot
No. 57 are he, robF ~tllowed five [5) year~ from December 8, 1915, within which to
the amou:t:...levied and asses2od a~ainas said oeol)erty ~i~ descrived in saiq assessment
roll so nntered ~nd ~,.p)roved ~:~.s a.l:thorizod the same to be divided tn -~vn oquut ....
ual 2.~y~touts, and t.o draw_.interer:t at t}:,:~ rs. to of ~even ~')er cent {7~{j$ per ~mmun
fr01~]l ~tll(l ~'%:f~dZ' s,..~i(1 Docer. zher 8. 1Dlo, :;nd in ~]~e event: the same shall become delin-
ClUent >i* z'a~'~s.on of non payment t~'.- City 2reasuz'er is kereby authorized to ed
wi~h *'-~ ~ , ..... rOOa
the Ordim:incos of the (3ity of 3remorton, as in suo.h eggo ma~8 g~d provided,
;;et. V. This Ordinance sJ~a].l be in Tull ~'3ree arid effect fret;1 fivr [5) da~s
after its pass~Se' ac :ro'v~-tl and publication according to law.
n-~x~ed by the ."'r oolmcl_ and ~i::i'oved by me this Z0th day .f :.'~rch
Attest:
Hays r.
"ity
'-, Clerk.