HomeMy WebLinkAbout0359 Ordinance1 �
Aja ORDINANCE. NO.t��r�%
+ AN ORDINANCE CREATING S INKING FUNDS FOR THE RETIREIVMNT
OF GENERAL OBLIGATION AND PUBLIC UTILITY BONDS OF THE CITY OF
PASCO AND PROVIDING FOR THE INVESTMEM OF MONIES OF SAID FUNDS IN
MUN IC IPA1 BONDS AND WARRANTS BY THE CITY TREAS URER .
WHEREAS; heretofore by Ordinance No. 149 of the City of
Pasco, the City Council of the City of Pasco did cause to be issued
Thirty Thousand Dollars in Gemeral obligation bonds due and payable
im 1931, and.
heretofore by Ordinance No. 241 of the City of
Pasco, the City Council of the City of Pasco did cause to be issued
Twenty Seven Thousand Five Hundred Dollars in. General obligation
bonds due and payable in 1934, and,
WHEREAS; heretofore by Ordinance No 345 of the City of
Pasco, the City Council of the City of Pasco did cause to be issued
One Hundred Fifty Thousand Dollars in Public Utility bonds due'
serially from 1929 to 1943 inclusive, and,
WHEREAS; heretofore by. Ordinance No. 351 of the City of
Pasco, the City Council of the City of Pasco did cause to be issued
Sixty Six Thousand Dollars in Public Utility bonds due serially
from 1931 to 1945 inclusive.
NOW THEREFORE THE CITY COUNCIL OF THE CITY OF PASCO DO
ORDAIN AS FOLLOWS;,
SECTION 1. That there be and is hereby created a fund to be known
as the "City Hall Bond Redemption Fund; this fund to be supplied by
a tax levy on all the taxable property within the City of Pasco.
SECTION 2. That there be and is hereby created a fund to be known
as the "Refunding Bond Redemption Fund; this fund to be supplied by
a tax levy on. all the taxable property within the City of Pasco.
SECTION 3. That there. -be and is hereby created a fund to be know. �1
as the "Pasco Special Water Revenue Bond Fund; this fund to be
supplied by paying into it from the gross revenue of the City Water
Department of the City of Pasco, a sufficient sum to meet the
principal of the bond issues as they become due as set out in
ordinances of the City of Pasco numbered 345 and 351.
SECTION 4. It shall be the duty of the City Treast.rer to invest
all monies in any Bond Redeipption Fund so far as posnible in any
of the following secureties payable prior to the date the ?monies
invested are to be applied;
lst, General obligation bonds of the State of Washington.
2nd, General obligation bonds of Counties of the state of
Washington..
3rd. School District bonds of Franklin County Washington.
4th. Current Expense warrants of Franklin County lashington.
5th. School District warrants of Franklin County ";ashington.
6th. General obligation bonds of the City of Pasco, VTas.hington.
7th. Public Utility bonds of the City of Pasco, Washington.
8th. Current Expense warrants of the. City of Pasco, 71ashington.
SECTION 5. 'This ordinance shall take effect five days from and
after its passage and publication.
Passed and approved
Pasco, this -d!t►�,aday of 1't
Attest,
City Clerk .
by the City Council of the City of
A.D. 1926.
Approved as to forma,
Mayor
i y orney-.