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HomeMy WebLinkAbout0616 OrdinanceORDINANCE NO.� AN ORDINANCE of the City of Pasco, Washington, providing for the re- vocation and cancellation of authority to issue and sell additional Special Fund Water Revenue Bonds for the making of certain additions, betterments and im- provements to the existing sewage system of the City of Pasco. WHEREAS the City of Pasco, Washington, by Ordinance No. 531, passed and approved March 7, 19442 did authorize the issu- ance and sale of water revenue bonds in the total principal sum of $300,000.00 to provide funds for the payment of the costs of certain additions extensions, betterments and improvements to the existing sewage system of the City of Pasco; and $145,000.00 of said bonds have been issued and sold prior to January 1, 1948 by authority of the said Ordinance No. 531 and Ordinance No. 569 passed and approved February 19, 1946, and WHEREAS John W. Cunningham and Associates, Consulting Engineers of Portland, Oregon, have advised the City Council that the cost of the uncompleted portions of the plan adopted in Ordinance No. 531 have nearly doubled since the said ordinance was adopted; and has recommended that an overall plan for improvement of City utilities, and the financing thereof, be developed, and, WHEREAS since the date of passage of Ordinance No. 531 the needs and requirements of the City of Pasco have changed and increased greatly, including, specifically, the need for a water fil- tration plant, and, WHEREAS, the bid of William P. Harper & Son and associ- ates for the purchase of $200,000.00 of water revenue bonds for the purpose of completing construction of said water filtration plant was, in the opinion of the City Council, the lowest and best bid for the said bonds, and was conditioned upon the cancellation of the authorized but unissued portion of $$300,000.00 Special Fund Water Sewage Revenue Bonds, and WHEREAS, Graves, Kizer & Graves, special counsel for the City of Pasco, have advised the City Council that, in their opinion, the present or future issuance and sale of the bonds -1- authorized by the provisions of Ordinance No. 531 but presently un- issued and unsold would be of questionable legality, this opinion being based upon the facts set forth hereinbefore and the decisions of*the Supreme Court of the State of Washington, now therefore, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF PASCO: Section 1. All authority for the issuance and sale of water revenue bonds for the payment of costs of additions, extensions, betterments and improvements to the existing sewage system of the City of Pasco heretofore duly given and approved by Ordinance No. 531 passed and approved March 7, 1944, is herewith cancelled and revoked absolutely as to all said bonds remaining unissued or unsold on February 1, 1948; the said unissued bonds shall not henceforth con- stitute a charge or lien, actual or contingent, against the revenues of the Pasco water system. PASSED by the Council of the City of Pasco, and approved by its Mayor this day of �� , 1948. CITY OF PASCO, WASHINGTON By -- - Mayor Attest:)V, 62", City Ulerk Ordinance Introduced:ZZA"tl:5,�1948 Ordinance Given its First Readin S' , 1948 Ordinance Given its Second Reading: S, 1948 Ordinance Given its Third Reading: 1 , 1948 Ordinance Passed by City Council ,O and Approved by Mayor: XG,1,+. 72dC1948 The foregoing Ordinance approved as to form before pa sage: City Attorney, 1948