HomeMy WebLinkAbout0229 OrdinanceZI 0 R D I N A IT C E IT 0. 2 2 9 . AIT ORDIITAITCE PROVIDING FOR A SPECIAL ELECTION TO RATIFY AITD VALIDATE THE INDEBTEDITESS OF MHEI CITY OF PASCO EVIDENCED BY WARRUTTS DRAWN UPOIT THE GE i1r_R IL i FUITD FZOI.I NO. A 1471 TO A 2176 INCLUSIVE, AND TO FUND BY ISSUEING BONDS THEREFOR SUDH PORTION OF SAID IITDEBTEDIESS AS -.AY BE VALIDATED, AITD PROVIDIITG FOR TEE ISSUATTCE OF B017DS IIT C:iSE OF VALIDATION OF SAID DEBT AITD THE AUTHORIZATIOIT OF THE ISSUE OF SUCH BOITDS, of the AREAS certatn warrants drawn on the General Fund of the City of Pasco have bees asserted to be invalid by reason of the fact that said warrant indebtedness is in excess, in whole or in part, of one and one half per cent of t -..e assessed valuation of the property in said City last made before the attempted incurring of the indebtedness evidenced by said warrants, and that such indebtedness was so attempted to be incurred with the assent of three-fifths of the voters voting qt an election held for tbatpurpose, and that said indebtedness is invalid for no other reason, AND WHEMEAS THE CITY COUNCIL OF TEE CITY OF PASCO, deems that it will be for the best interests of said City that said indebtedness so attempted to be incurred be ratified and validated and that when so validated, that it be funded by the issuance of bonds therefor: TEE CITY COUNCIL OF TEE CITY OF PASCO, WASHIITGTON,DO ORcDAIN AS FOLLOWS: SECTION l: That a s-oecial election be held in said City in the saveral oleo ion nrec:_ncts in which said City is divided, and at the usual poling places therein, on Tuesday, the 17th day of I;Iarch, 1914, at which there shall be submitted to the voters therein the question of ratifying or disproving the indebtedness attempted to be incurred and evidenced by warrants drawn on the General Fund of said City for the current e.:penses of said City from T7arrant ITo A 1471 dated Sept. 4th, 1912, to .7arrant ITo. A 2176 dated June 4th, 1913, both inclusive, the face of which ar-rants with interest calculated to April, 7th, 1914 aE:gregates j38,500.65. SECTIOIT 2: The form of ballot at said election shall be: "DEBT evidenced by General Bund warrants from !To. A 1471 to A 2176 inclusive issued at sunaTy and various times between Sept, 4th, 1912, and June, 4th, 1913. and ,which aC,,re�7ate the sum of .?38,500.65 interest calculated to April, 7th, 1914; Ratification: YES: "DEBT evidenced by General Fund wa=rants from ITo. A 1471 to A 2176 inclusive issued at sundry and various times between Sept. 4th, 1912, and June, 4th, 1913, and which aggregate the stem of ;'`38,500.65 intrest calculated to April 7th, 1914: Ratification: ITO. SECTION 3: That an election be held at the same time and place as provided in bection 1, of thio Ordinance whereat the voters of the said City shall ballot ypon, and there is hereby proposed and submitted to the said voters of said City for their ratification or rejection, the following pro.osition: That the City of Pasco issue negotiable bonds to be a gon_ral'iNdebtedness a-ainst said City for the pur_nose of funding such portion of the indebtedness hereinbefore described as may be ratified and validated, with interest therein, such bonded indebtedness to be an addition to and not included in the one and one half per cent constitution limitation of municipal indebtedness. SECTION 4: The for::i of ballot to be used at said election when voti_iU n.,.on the proposition to fund said indebtedness and issue bonds therefor shall be: "Shall the City of Pasco, issue negotiable bonds tp be a gdndral indebtedness a-ainst .aid CITY in addition to and not inclmded in the one and one half per cent constitution limitation of municipal indebtednec:s,fot the purpose of funding the debt evidenced by General Fund warrants ITo. A 1471 to ITo. A 2176 inclusive, issued at sundry and various times between Sept. 4th, 1912 and June, 4th 1913, inclusive, and which aggregate the sum of .;;38,500.65, intrest calculated to April, Ith 1914. Bonds. YES: "Shall the City of Pasco, issue negotiable bonds to be a general indebet(Iness against said CITY in addition to and not included on the and and one half per cent constitution limitation of municipal indebtedness fir the pi: pose of funding the debt evidenced by General Rena warrants ITo. A1471 to ITo. A 2196 inclusive, issued at sundry and various tinges between Sept, 4th, 1912 and June, 4th, 1913, inclusive, and whish aggregapi the siup of?38,500.65, interest calculated to April, 7th, 1914. Bonds: 110: SECTIOIT 5: The elections herein provided for shall be conducted bu such inspectors and judgesof elect -on as may be -respectmvel:y designated and ap-;-digted for holding the same in accordance with the Ordinances of the City of Pasco, and the general laws of the State of iJashingtcbn. The City Clerk of the City of Pasco, shall give at least four weer>s notice of the time, place and purpose, of said election by publishing the same in the newspaper doing the City's printing, the Pasco Express, a newspaper published in the said City of Pasco, which publication shall be nit less than once a week for four succe:_sive weeks, and by posting copies of the said notice for the said period of four weeks at each place of holding the election in the said City, in the manndr req-,-.i-red for special elections. Such notices shall include the propositions hereby -required to be submitted to the voters pf the _aid City, and the forms of the ballot to be cast for and as-ainst said propositions as herein perscribed. Evey voter voting for or a ainst any of the propositions herein submitted shall indicate the manner in which he desires to vote. SECTION 6: If at said election to be held as provided for in this Oddinance Three-fifths of the voters in said City voting at said election and upon said X propositions shall vote in favor of said pro-_ositions thereupon and thereby such propositions so voted for. shall be adopted and the bonds of said City shall be issued in the amount required to tah--e up diad fund that algount of outstanding general indebtedness of said bity as evidenced by said -17ar-ran s that may be -ratified by the said voters and the iEsuance of bonds that may be ratified by the said voters and the issuance of boncls authorized therefor. SECTION 7: The binds herein provided for shall be it f the denomination of (five Hundred Dollars each, shall be doted April, 7th, 1914. and shall run for a period of twenty years and amture on April 7th, 1934, and shall bear intrest at a rate of not to exceed six percent, per anun, payable serii-anually on the soventh day of April and October in each year; intrest and princi-)al pa7ab le in the City Of Few York, State of iTew York at the fiscal agendy of the State o=' iasu'ngton, therein, or at the office of tl,_e 1`reasurer of the City of Pasco, in said City, at the option of the holder thereof. The bon0-s ilrovided for herein shall be known and designated as 1914 Fluldin`; Bonds, series A. The Bonds shall be 77 in member, numbered 1 to 7'! inclusive, ORDIITATICE NO, 230. and shall have intrest coupons attached for semi-annual intrest payments sufficient -1N ORDIITAITCE VAC_ TIITG Cr=TAITT STR LETS OP THE CITY OF FALCO. to cover the period of matgtitja. Said bonds and attached coir -pons shall be signed THE CITY CO 71CII, OF TER CITY OF PA3CO, DO ORDAIN L,� FOLIOWS: by the Mayor of the City of Pasco, sealed with the _ seal of said City, SECTIOIT 1. -he-reas, the petition of 'Wong How and Ong How, husband and wife, and attested by the City Clerk. praying f6r the v cation of certain streets of the City of Pasco, and praying SECTION 8: Upon the adootion of said propositions the City Council shall that a time be fixed for hearing after due notice was duly filed with the City immediately coon the preparation, sale and issuance of said bonds, call in for Clerk on January, 13th, 1914, and payment warrants then outstanding against the General Fund up to the full amount Jhereas, the City Council on January 13th, 1914 bjr $tsolution ordered that realized from the sale of said bonds, and shall redeem, pay and caneel each and Tuesday, Harch, 3rd 1914, at the hour of eight O'clock P. L:. at the romila-r Council all of said warrants out of the proceeds of the sale of said bonds. Chambers be fired as the time when said petition would be heard and deterr•ilned, and f",Thereas, it ap-pears from the proofs made try the City Clerk that due and SECTION 9: The said bmnds and the proceeds thereof shall be used and the preceeds thereof shall be used and expended solely for the pur_;ose of funding the legal notice of the pendency of said petition was posted more than twenty days indebted_necs herein diseriUed, or so much thereof as may be validated at said prior to date set for hearing in three of the moast public Maces of the City ' election, but the purchaser of said bonds shall not be responsible for the of Pasco, and also in a conspicious place on each of the streets sought to be applisation of such bonds or their proceeds. vacated, And it, further, apDea-ring to the City Conrcil from proofs submitted that Passed the dow�cil this 3rd day of Febrtu?ry, 1914. hong Low and Ong How, husband and wife, are the owners in foe simple of more than Approved b- me this 3rd day of Fevruary, 1914, two-thirds of the realest_te abutting upon the streets sought to be vacated; Published February 6th, 1914, And Clhe-reas, no person has appeardd to object to the ,granting of said petition, and after cine clnside_-ation, it is ordered by the City Council that said petition be granted as pr,2yed for. ATTEST: SECTIOid 2. It is therefore ordained that the following described streets and no-rtions of streets in the City of Pasco, be, and the same is hereby vacated as s -Treats and public highways. A description of the streets so Vacated is as I He, certify that the above q2a3 foregoing is a true and correct copy of follows, to -wit: the original Ordinance as was passed, a -,-,proved and publishea,ana is now on file Boulevard Street between the South line of Ainsworth Avenue and the Cin my Office, South line of O'Keef's Third Addition to Pasco, :Iashington, - "" Reed Street between the south line of Ainsworth Avenue and the T R K, intersection of Real Street Boulevard Street, being all of Reed Street South of Ainsworth Avenue, Fran'__lin Street between the South line of Ainsworth Avenue and the North line of Washington Street; Washington Street between Boulevard Street and the Jest line of Frani lin Street. All of said streets c -re located on O'Keef's third Addition to t?_e town of Pasco, (now the City of Pasco) Franklin County, ;,ashington. I Passed and a prove0- t=,is 17th day or -larch, 1914. Published Earch, 20th, 1914. Vii9i. ATTEST: T -Y C I E R K I hereby Certify Chet t;e cUove an0_ orcgcing is a true and correct copy of the original Ordinalce as pas"ed and was approvod and published and is now on file in lay office. F`[... l H� CIT CLERK