HomeMy WebLinkAbout1437No. /Z/$7
A RESOLUTION of the City of Bremerton, Washington pro-
viding for the submission to the qualified electors of
the City at a special election to be held therein on
January 27, 1970, of a proposition authorizing the
City to issue its general obligation bonds in the prin-
cipal amount of not to exceed $6,200,000.00 for the
purpose of paying the cost of acquiring, constructing,
and equipping a Civic Center Complex for the City.
MS, it is deemed necessary for the public health, safety,
welfare and convenience that the City of Bremerton acquire, construct and
equip a Civic Center Complex consisting, in part, of a Regional Library,
conmunity buildings, theatre, youth center, indoor swiming pool and
outdoor play area; and
WHEREAS, to provide the funds for such purpose it is deemed
necessary and advisable that the City issue and sell its general obliga-
tion bonds in the principal amount of not to exceed $6,200,000.00; and
h~S, the constitution and laws of the State of Washington
require that the question of whether or not such bonds may be issued for
such purpose be submitted to the qualified electors of the City for their
ratification or rejection;
NoW, THEREFORE, BE IT RESOL~ by the Council of the City of
Bremerton as follows:
Section 1. The Council hereby finds and declares that the
health, safety, welfare and benefit of the residents of the City require
that the plan hereinafter provided be carried out at the time or times
and in the order deemed most necessary and advisable by the City.
Section 2. The City shall acquire property as may be necessary
for the purpose of constructing and installing an integrated multi-purpose
public facility on a single site or inmediately adjacent sites for the
housing and furnishing of a Civic Center Complex to consist of a Regional
Library, cmos,unity building which will include a multi-purpose hall, com-
munity bmll and meeting ~ administration rooms, a theatre designed for a
variety of uses such as band, choral, lectures, orchestra, ballet, drama,
musicals, variety S~, movies, pageants, religious programs and con-
vention assemblies; a youth center having facilities for dancing for 450,
lounge and T.V. area, game area for pool and ping pong, stage or bandstand,
kitchen and snack bar, supervisor and youth staff office, patio area, and
banquet facilities for 300; an indoor swinming pool and outdoor play area.
Such improvements shmll be complete with all necessary and proper facili-
ties, utilities and appurtenances.
Section 3. For the purpose of providing funds necessary to pay
part or all of the cost of carrying out the plan pursuant to this Resolu-
tion, general obligation bonds of the City in the principal amount of not
to exceed $6,200,000.00 shall be issued. Such bonds shall bear interest
at a rate not to exceed the maximum rate permitted by law at the time of
their issuance, and shall .mature serially in such amounts in from two to
twenty years from date of issue as authorized by the legislative authority
of the City and as provided by law. Both the principal of and interest on
such bonds shall be payable out of annual tax levies to be made upon all
of the taxable property of the City without limitation as to rate or amount.
The exact date, form, terms, options of redemption and maturities of such
bonds shall be hereafter fixed.
Section 4. The life of the improvement to be acquired and con-
structed from the proceeds of the bonds issued therefor is hereby estimated
and declared to be as nearly as practicable, not less than twenty years.
Section S. The proceeds of the bonds shall be deposited in the
"Civic Center Complex Fund" to be hereafter created in the treasury of the
City, except that any accrued interest on the bonds paid at the time of their
delivery shall be paid into a fund to be hereafter created for the redemp-
tion of the bonds. Monies in such fund may be temporarily deposited in such
institutions or invested in such obligations as may be lawful for the in-
vestment of City monies and may be temporarily advanced to the bond redemp-
tion fund to pay bond interest pending receipt of taxes levied therefor.
The proceeds of sale of the bonds and interest earned on the de-
posit or investment of such proceeds shall be applied and used solely for
the acquisition, construction and installation of the Civic Center Complex
as set forth in this Resolution, and none of such proceeds shall be used
for other than a capital purpose. Costs of engineering, architecture,
planning, financial, legal or other services lawfully incurred incident to
the acquisition and development of the improvements heretofore mentioned
shall be appropriate capital costs to be paid from the proceeds of the bonds.
Section 6. It is hereby found and declared that an emergency
exists requiring the submission to the qualified electors of the City at
a special election to be held therein on the 27th day of January, 1970,
of a proposition authorizing the issuance of general obligation bonds of
the City for the purposes provided in this Resolution.
The Kitsap County Auditor, as ex officio supervisor of all
elections held within Kitsap County is hereby requested to also find the
existence of such emergency and to asst~e jurisdiction of, and to call and
conduct said special election, to be held within the City on said date,
and to submit to the qualified electors of the City at such special elec-
tion the proposition hereinafter set forth.
The City Clerk is hereby authorized and directed to certify said
proposition to the Kitsap County Auditor in the following form:
CITY OF B~RTON, I~ASHINGTON
PROPOSITION NO. 1
CIVIC CENTER COMPLF~
Shall the City of Bremerton, for the purpose of ac-
quiring, constructing and equipping a Civic Center
Complex generally consisting of a Regional Library,
various c~mnity buildings, theatre, youth center,
indoor swimming pool and outdoor play area, issue
its general obligation bonds in the total princi-
pal amount of not to exceed $6,200,000.00, when and
as the waiving of such indebtedness shall not exceed
any constitutional or statutory limitation, to bear
interest at a rate not to exceed the maximum rate
permitted by law at the time of their issuance to
mature serially in from two to twenty years from date
of issue of such bonds, to be paid both principal an
interest out of annual tax levies to be made upon all
the taxable property within the City without limita-
tion as to rate or amount, and to be issued all as
more specifically provided in Resolution No. /4A~7 .
BONDS, YES ......... ~
ADOPTED by the City Council this 10th day of December,
1969, signed by the Mayor and attested by the City Clerk in authen-
tication of such adoption.
ATTEST:
· ~, SR/, I~LERK