HomeMy WebLinkAbout06-25-1979 MinutesMINUTES
PASCO CITY COUNCIL
SPECIAL MEETING
CALL TO ORDER:
JUNE 25, 1979
Meeting called to order at 8:00 P.M. by the Honorable J.C. "Chet"Bailie, Mayor.
ROLL CALL:
By City Manager. Councilmen present were: S.K. Adams, J.C. Bailie, Charles
Grigg, Ira Schmidt and Gary Clark. Councilmen E.A. Snider and Bill Wilkins
were absent from the meeting.
ORDINANCES:
ORDINANCE NO. 2071:
AN ORDINANCE OF THE CITY OF PASCO, WASHINGTON, PROVIDING FOR THE
ISSUANCE OF $895,000 PAR VALUE OF "LIMITED INTER -CITY BRIDGE
GENERAL OBLIGATION BONDS, 1979", OF THE CITY TO PROVIDE THE MONEYS
REQUIRED TO REPAY THE STATE OF WASHINGTON THE CITY'S REMAINING
OBLIGATION INCLUDING PRINCIPAL AND INTEREST THEREON ESTIMATED TO
AUGUST 1, 1979, IN THE TOTAL SUM OF'$786,150.00 UNDER THE AGREEMENT
ENTERED INTO BETWEEN THE CITY AND THE CITY OF KENNEWICK, WASHINGTON,
UNDER DATE OF JANUARY 23, 1975, AS SUPPLEMENTED BY VARIOUS SUPPLEMENTAL
AGREEMENTS THEREAFTER ENTERED INTO BETWEEN SUCH PARTIES, PERTAINING
TO THE FINANCING OF THE PASCO-KENNEWICK INTER -CITY BRIDGE PROJECT
OVER THE COLUMBIA RIVER AS ORIGINALLY AUTHORIZED BY ORDINANCE NO.
1434, PASSED BY THE CITY COUNCIL AND APPROVED BY THE MAYOR ON
JULY 7, 1970, AND TO PAY THE CITY'S SHARE OF THE COST OF DEMOLITION
OF THE OLD PASCO-KENNEWICK BRIDGE AND THE COST OF THE ISSUANCE OF
THE GENERAL OBLIGATION BONDS HEREIN AUTHORIZED; SPECIFYING THE
MATURITIES AND FIXING THE FORM AND MAXIMUM EFFECTIVE INTEREST RATE
OF SUCH BONDS; ESTABLISHING A "LIMITED INTER -CITY BRIDGE GENERAL
08LIGATION BOND FUND, 1979;" AND PROVIDING FOR THE SALE OF SUCH BONDS.
Ordinance No. 2071 was read by title only. Mr. Grigg moved that Ordinance No.
2071 be adopted. Seconded by Mr. Adams. Motion carried by roll call vote of
five (5).
ADJOURNMENT:
Special meeting adjourned at 8:07 P.M.
J.C. "Chet" Bailie, Mayor
ATT ST:
(�vlyn Wells, City Clerk
PASSED and APPROVED this vim— day of July, 1979.
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