HomeMy WebLinkAbout0914 Ordinancef
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CITY OF PASCO, WASHINGTON
ORDINANCE NO. .
;AN ORDINANCE specifying and adopting a system or plan
of additions to.and betterments and..extensions of the.
waterworks utility of.the City, including as a part
thereof the system of sewerage of the. City; declaring
the estimated•cost thereof as near as may be; providing
for the issuance of $650,6-30.,00 par value of "Water and
Sewer Revenue Bonds, 1957,!' to.pay-the cost thereof;
creating A special fund to. provide -for the payment of
said bonds; fixing the date, form•, maturities,,interest
rate, covenants..and terms of said bonds;.and providing
for the: sale of said bonds to.T.erry.Thompson & Co..-, of
Seattle, Washington, and for the immediate delivery of
the first $249,6*0.00'_par value thereof'to said purchaser.
WHEREAS, the City of Pasco, Washington,°by. Ordinance No.•531, passed
March 7;; 1944, provided that the system of sewerage of the City, including, all
additions, extensions and betterments thereto,'should-be.:operated as a part of .
and as belonging to the waterworks utility -of the.City,4pursu,an.t;to the pro-
visions.•of Chapter 193 of the 1941 Session Laws of the State of Washington
(being FtCW 35.67,320 et seq.); and
WHEREAS, the existing waterworks utility of the City, including the
system of sewerage as a part thereof, is in such condition that the public
health, welfare, safety and convenience require. the making of additions
thereto and betterments and extensions thereof .as hereinafter provided; and
WHEREAS, the City of Pasco, pursuant to Ordinance No. 768, as
amended by Ordinance No. 774,•has heretofore issued, under date of January 1,
1954, $840,000040 par value of "Water and Sewer Revenue Bonds, 1954"; and
WHEREAS, by,Secti•on 13 of,said Ordinance No. 768, as amended by
Ordinance No. 774, -the City of Pasco reserved the right -to -issue additional
water and sewer revenue bonds which shall constitute a charge or.lien upon
the revenues of the waterworks utility of the City, including the system of
sewerage as a part thereof, and including all additions, betterments and
extensions thereof at any time made, on a parity with said "Water and Sewer
Revenue Bonds, 1954," provided the following conditions shall be. -met and
complied with at the time.of the issuance of such additional bonds:
and
"(a) That all payments required to be made into the
bond redemption funds for the outstanding *Special Fund
Water -Sewage Revenue Bonds, Series A,a dated March 1, 1944,
the ':Special Fund Water -Sewage Revenue Bonds, 1944-1946,
Series B,* dated January 1, 1946, and the `b'dater Revenue
Bonds, 1948,`' dated March 1, 1948, shall have been made;
and
"(b) That all payments required by this ordinance or
any ordinance hereafter enacted pertaining. to the bonds of
this issue shall have been made into the 'Water and Sewer
Revenue Bond Fund, 1950; and
"(c) That the ordinance providing for the issuance
of such additional bonds shall further provide for the
creation of a reserve fund or account for such additional
bonds into which fund shall be accumulated an amount equal
to the average annual debt service requirements of the
additional bonds proposed to be .issued, which amount shall
be accumulated no later than five years after the date of
issuance of such additional bonds.
"(d) That the revenues of the said waterworks util-
ity, including the sewerage system as a part thereof,
including the additional revenues reasonably anticipated
to be received -as a result of the making of the improve-
ments in connection with which the additional revenue
bonds are proposed to be issued, shall be deemed sufficient,
after the payment of operation and maintenance costs and --
taxes, to equal at least 1.4 times the average annual
principal and interest requirements of all outstanding
water revenue bonds or water.and sewer revenue bonds,.,
including the'bond-s of this issue and of the additional
revenue bonds proposed to be so issued. Such determination
of the sufficiency of the revenues shall be made and certi-
fied to by either•a certified public accountant or
professional- engineer experienced in municipal utilities
and licensed to practice in.the State 'of Washington;.
PROVIDED, HOWEVER, that this certificate shall not be -
required in the event that the additional bonds proposed to
be so issued are issued for the'purpo.se of refunding out-
standing'Water Revenue Bonds or.Water and Sewer Revenue
Bonds and the average annual debt service requirements of
such.proposed additional revenue bonds are not increased
over the requirement for the bonds.being so refunded..";
WHEREAS, the City Council hereby finds and declares that all pay-
ments required to be made -into the bond redemption fund; for the outstanding
"Special'Fund Water -Sewage Revenue Bond;.Series A," dated March 1, 1944,
the "Special Fund "dater -Sewage Revenue Bonds, 1944-1946, Series B," dated
January 1, 1946,.and the "Water Revenue.Bonds, 1948," dated March 1, .1948,
have been made, and that all,payments; required by Ordinance No. 760, as
amended by Ordinance.No. 774, pertaining to the outstanding "Water and Sewer
Revenue Bonds, 1954,".have been made into the "Water and Sewer Revenue Bond
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Fund, 1954," and that Holly A. Cornell, of Cornell, Howland, Hayes
Merryfield, Consulting Engineers, a professional engineer experienced in
municipal utilities and licensed to practice in the State of Washington, has
certified that the revenues of the waterworks utility, including the system of
sewerage as a part thereof, including the additional revenues reasonably anti-
cipated to be received -as a result of the making of the improvements in
connection with which the additional revenue bonds are proposed to be issued,
after the payment of operation and maintenance costs, and taxes, are suffi-
cient to meet the 1.4 coverage requirement specified in said paragraph (d) of
said Section 13, as evidenced by his certificate to such effect on file with
the City Clerk; and
WHEREAS, provision is hereinafter made for the creation of a
reserve account for the additional bonds proposed to be issued, into which
account shall be accumulated, no later than five years after the date of the
issuance of such additional bonds, an amount equal to the average annual
debt service requirement for the additional bonds hereinafter authorized to
be issued, NOW, THEREFORE,
FOLLOWS:,
THE CITY COUNCIL OF THE CITY OF PASCO, WASHINGTON, DO ORDAIN AS
Section 1, The gross revenues and benefits to be derived from the
operation and maintenance of the waterworks utility of the City, including
the system of sewerage as a part thereof, and the additions, extensions and
betterments thereto herein provided for, at the rates to be charged for
water and sewerage service on the entire utility will, in the judgment of
the City Council,.be more than sufficient to meet all the expenses of opera-
tion and maintenance thereof and to permit the setting aside of a special
fund out of the gross revenues of the entire utility of an amount sufficient
to pay the interest on the revenue.bonds herein authorized to be issued as
such interest becomes payable and to pay and redeem"all of such bonds at
maturity and to meet the debt service requirements of all outstanding
"Special Fund Water -Sewage Revenue Bonds, Series :A," dated March 1, 1944,
"Special. Fund Water -Sewage Revenue Bonds, 1944-1946, Series B," dated January
1, 1946, "Water Revenue Bonds, 1948," dated March 1, 1948, and the "Water and
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Sewer Revenue Bonds, 1954," dated January 1, 1954.
Section 2. The City of Pasco hereby specifies and adopts a system
or.plan of�additions to and betterments -and extensions of the waterworks
utility of the City, including the system of sewerage as a part thereof, to
consist of the following:
A. There shall be constructed and installed a 20 -inch diameter
cast iron pipe line beginning at Chase and Court Streets in the City of Pasco
and extending thence south on Chase Avenue to Olive Street, thence east on
Olive Street to the existing 20 -inch -pipe. line located at Lucas and.Olive.
Streets, all in the City of Pasco. Said construction shall include all
necessary pipe, valves, fittings, meters, connections to existing mains and
pipe lines, service connections, pavement, curb and sidewalk.repair,*testing,
sterilization, and other facilities and appurtenances required ,to provide a
complete;, operating addition to the existing water distribution system, and
said construction all to be as more completely described in plans and-speci_.
fications prepared by Cornell, Howland, Hayes and lVerryfield, consulting
engineers, of Corvallis, Oregon, entitled "Contract Documents for the*
Construction of Water Distribution Lines," dated August, 1957, and now on file
in the office of the City Clerk, City Hall, Pasco, Washington.•
B. There shall be constructed and installed a 16 -inch and 12 -inch
diameter cast iron pipe line beginning at Arthur Avenue at the northwest cor-
ner of, the southwest quarter of Section 20, -Township 9 North, Range 30 East,
Willamette Meridian, in the City,of,.Pasco, and extending thence easterly
across the tracks of the Northern Pacific Railroad to Oregon -Avenue, and
thence southerly along said Oregon Avenue to the east -west center line of
Section :?0, Township 9 North, Range 30 East, Willamette Meridian, and thence
east along the center line of said.Section .20 to the existing 8 -inch line
located 1.99.5 feet west of the center of said -Section 20, all in the City of
Pasco. Said construction shall include all necessary pipe, steel encased
railroad undercrossings, valves, fittings, meters, connections to -'existing
mains, service connections, pavement, curb and sidewalk repair, testing,
sterilization and other facilities as required to provide a complete, operating
addition to'the water distribution system., -and said construction all to be as
more completely described in; plans and specifications prepared by Cornell,
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Howland, Hayes and Nierryfield, consulting engineers, of Corvallis, Oregon,
entitled "Contract Documents for the Construction of Water Distribution
Lines," dated August,.1957, and.now on file in the office of the City Clerk,
City.Hall, Pasco, Washington,
C. There shall be constructed and installed additions and improve -
menta to the existing -water treatment plant located on "B" Street between 12th
and 1.3th.Avenues in the.City of Pasco. Said additions shall include, but not
be limited to, flocculation, sedimentation, filtration, clear well, piping,
control, pumping, power, chemical storage, chemical feed and mixing facilities,
and operating galleries, landscaping, and all other facilities,.appurtenances
and equipment required to provide a complete, -operating addition to the exist-
ing water treatment facilities with the capacity of approximately 10 million
gallons per day. Said improvements..shall also..includ.e, but not be limited.to,
rebuilding and revision of the existing sand trap, flocculation, mixing,.sedi-
mentation, filtration, filter;piping control, pumping, chemical storage,
chemical feeding, laboratory and operating gallery, landscaping, and all other
facii1 ties, appurtenances and equipment required :to provide a rebuilt facility
capable of meeting recognized standards for operation at the rate of approxi-
mately 10 million gallons per day, and said additions and improvements all to
be as more completely described i.n a report prepared by Cornell, Howland,
Hayes and Merryfield, consulting engineers,.Corvallis, Oregon, entitled
"Engineering Report on a Water.System Tnvestigation,'part.IT, Treatment and
Pumping.Facilities," dated March, 1954, and now on file in the office of the
City Clerk., City -Hall, Pasco, Wa_sh.ington.
.-D.. There shall be constructed and installed improvements and
additions to the existing water intake pumping station located on the bank of
the Columbia River at approximately the extension.of 12th Avenue in the City
of Pasce, Washington, Said improvements and additions.shall.include,,but not
be limited to, pumps, screens, controls, valves, fittings, structural changes,
piping and control lines from said pumping station to the existing water
treatment plant, landscaping and other facilities, appurtenances and equip -
meet required. to construct a complete, operating pump station facility capable
of a normal operating rate of 20 million gallons a day, and said improvements
and additions all to be as more completely described in a report prepared. by
Cornell, Howland, Hayes and Merryfield, consulting engineers, Corvallis,
Oregon, and entitled "Engineering Report on the Water System Investigation,
Part II, Treatment and Pumping Facilities," dated March, 1954, and now on file
in the office of the City Clerk, City Hall, Pasco, Washington. -
E. There shall be contributed the sum of $40,000.00 toward the
payment.of the construction costs of installing those portions of the sanitary
sewer system,in the northwest area of the City under Local Improvement District
No. 63, which are properly the obligation of the City as .a whole. Reference is
hereby made to Ordinance No. 905, adopted October 1, 1957, which Ordinance
ordered said improvement and established Local Improvement District No. 63.
F. There shall be constructed and installed a 12 -inch diameter cast
iron.pipe line on Court Street from Lucas Avenue to Arthur Avenue in the City
of Pasco. Said construction sh�l include all necessary pipe, valves, fittings,
meters, connections to existing pipe lines, service connections, pavement,
curband sidewalk repair, testing, sterilization, and other facilities and
appurtenances required to provide a complete, operating addition to the water
distribution system, and said construction all to be as more completely des-
cribed in a report prepared by Cornell, Howland, Hayes and Merryfield,
consulting engineers, Corvallis, Oregon, and entitled "Engineering Report on a
Water Distribution System investigation, Part I, Source of Supply, Distribution,
and Storage," dated "August, 1953„ acid now *on file in the office of the City
Clerk, Gity Hall, -'Pasco, -'Washington.
There shall -be included in the foregoing the acquisition of all
necessary valves, fittings, couplings, connections, equipment, franchises,
easements, rights-of-way, leasehold interests, and land that may be required, .
and there shall be included the performance of such work as may be incidental
and necessary to the foregoing construction and installation.
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The City Council.may modify the details of the foregoing system or
plan and make such changes and modifications therein as in its judgment appear
advisable, provided such changes and modifications do not substantially alter
the purposes hereinbefore set forth..
Section 3. The life of the .foregoing additions to and betterments
and extensions of.the waterworks utility, including,the system of sewerage as
a part thereof, is.hereby declared to be at least thirty years.
Section 4.,* The estimated cost, as near as may be, of the aforesaid
system or plan is declared to be $650,000.00.
Section 5. For the purpose of obtaining the funds with which to
carry out„the foregoing system or plan of additions to.and betterments 'and
extensions of the waterworks utility of the City, including the -system of
sewerage <<s a:part thereof, there .shall be issued and sold "Water and Sewer
Revenue Bonds., 1957,” of the City of Pasco,.in the principal sum of $650,000.00
(hereinafter called the "Bonds").' The Bonds shall be in denominations of
$1,000.00 each, shall be numbered from 1 to 650, inclusive, shall be dated
December 1, 1957, and shall bear interest at the rate of 5% per annum, interest
to be payable semiannually.on January 1st and July lst of each year, with the
first interest coupon covering a seven-month period, interest to maturity to be
evidenced by coupons to be attached.to the Bonds with full obligation on the
part of the City -to pay interest at the same rate from and after the bond matur
ity dates until the Bonds with interest are paid in full or monies are available
in the Bond Fund for payment in full. Both principal of and interest on the
Bonds shall be payable solely out of the special fund hereinafter created, and
the Bonds shall be a valid claim of the holder thereof only as against said
special fund and the fixed amount of the revenues of the waterworks utility,
including •the system of sewerage as a part thereof, pledged to such fund, and
shall not be a .general obligation of the City of Pasco. The Bonds., both princi-
pal and interest, shall be payable in lawful money of the United States of
America at the office of the City Treasurer of the City of Pasco, Washington, or
at the fiscal agency of the State of Washington in the City of New York, New
York, at the option of the holders thereof.. The Bonds shall mature serially,
annually, in accordance with the following schedule, to wit:
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Bond-,Numbers !Amounts Maturities
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1 :to -5 inclusive $ 59000: -July 1, 1959
6 to 100 "' $ 52,000. July 11, 1960
11 to 18, "' $ 8',000 July 1, 1961
19 to 34, " $16,000 July 19, 1962 .
35 to 571, '° $17,.,000 July 1, 1963
52 to 69, t° $18,000 July 1, 1964
70 to 79, " $10,000 July 19 1965
80 to 90, " $11,000 July 11 1966
91 to 101-9 " $11,000. July 1, .196.7
102 to 1139, a $12,000 July 1, 1968
114 to 12°i:, " " $129 000 July 1,1969
126 to 1389 $13,900 `July 1, 1970
139 to 152, " $141000 .July 1:, 1971
153 to 167, " $153,000 July 1, 1972
168 to 1823, " $159000 July 1, 1973
.183 to 197, ". $15,.000-. July 1, 1974
198 to 2141, " $17,000 July .1, 1975
215 to 231:1, " - ' $17,000. July 11, 1976
"
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.232 to 249, -- $1 ,000 July 1, 197 •
July 250 to 267$18000 J 1 1., 1978
268 to 2869 " $199000 July 19 ,1979
287 to 306; " . $20,000 July 1, 1980
'307 to. 326', ' " $20,000 July 1, 19,81,
327 to. 348, !°.- $22,000: July 19 1982
349 to.-371, ". $239000 July 19, 1983
372 to 395, " $24,000 July 19 1984
396 to 475., " $80,000 July 1, 1985
476 to 5609 " $85,000 July 1, 1986
-561 to 650,9 " $94,000 July 1, 1987
Section.6, The City of Pasco reserves the right to redeem any or all
of the outstanding Bonds out of the revenues of the waterworks utility of the
City, including -the system of sewerage as a part thereof, at par, plus accrued
interest, on January 1, 1963, or on any semiannual interest payment date there-
after, in :inverse numerical order, highest-numbers first, and reserves the
right to redeem the bonds as a whole. for refunding purposes at the following
redemption prices if called-at.the following times-, plus.accrued interest -,to
date of redemption in each case, to wit:
On`January l,' 1963, at $105.00 per each $100*pa'r value thereof
On July.l,-.1963, at $104.50 per each $100 par value thereof
On January 19 19649 at $104:00 per each $100 par value thereof
On July 1, 1964, at $103.50 per each $100 par value thereof
On January 1, 1965, at $103.00•per each $100 par-value thereof
On July 1,,1965, at $102.50.per each $100,par value thereof
On January 1, 1966, at $102:00 per'ea'ch $100 par value thereof
On July 1, 1966, at $101,50 per each $100 par value thereof
On January 1, 1967, at $101.00 per each $100 par value thereof
On July 1,19679 at $100.50 per each $100 par.value thereof
On January 1, 1968,•at.$100.00, and thereafter at par.
Notice of-any call'for redemption.:of said Bonds prior to their stated:
maturity date shall be published once in the 'official newspaper of the City,
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not less -than -thirty nor more than forty-five days prior to the date of redemp-
tion, Notice of such call for redemption shall also be mailed to Terry
Thompson F: Co., 901 Northern Life Tower, Seattle, Washington, or its successors,
within the same period. Interest on any Bonds so called for redemption shall
cease on the date fixed for such redemption upon payment of the redemption
price into the "Water and Sewer Revenue Bond Fund, 1957," hereinafter created.
.Section 7._ There is hereby created and established in the office of
the City Treasurer a special fund to be known as the "Water and Sewer Revenue
Bond Fund,, 1957," (hereinafter called the "Bond Fund"), which fund is to be
drawn upon for the,sole purpose of paying -the principal of and interest upon.
the Bonds from and after the dates thereof, and so.:long thereafter as Bonds are
outstanding against the Bond Fund, the City Treasurer -of the City of Fasco_'shall.
set aside and pay into the Bond Fund out of the gross revenues of the waterworks,
utility, including the system of*sewerage as a."part,thereof, now belonging to or
which may hereafter belong.to the City, including all additions, extensions and
betterments thereof at any time made, a -fixed amount without regard to any
fixed proportion, namely, an amount sufficient -to pay the principal of and
interest on the Bonds as they respectively become due and to create the reserve
hereinafter prescribed. -The gross revenues from said waterworks utility,
including the system of sewerage as a part thereof, are hereby pledged to such
payment and the Bonds shall constitute a charge, upon such revenues prior and
superior to any other charges whatsoever, excluding charges for maintenance and
operation, except that the lien and charge upon said gross revenues shall be
subordinate and inferior to the prior lien and charge against the same for the
outstanding "Special Fund Water -Sewage Revenue Bonds, Series.A." dated March. 1,
1944, "Special Fund Water -Sewage. Revenue Bonds, 1944-1946, Series B," dated
January 1, 1946, and the "Water Revenue Bonds, 1948," dated March 1, 1948, and
except, further, that the lien and charge upon 'said gross revenues for the Bonds t,/'
shall be -on a parity with the lien and charge upon said gross revenues for the
outstanding "Water and Sewer Revenue Bonds, 1954," dated January 1, 1954, and
for any additional water and sewer revenue bonds that may be hereafter issued,
pursuant to the provisions.of Section 13 of Ordinance.No.,768, as amended by
.Ordinance.No. 774.
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Section 8, The City Counci'1"and corporate .authorities of the' City
of Pasco hereby declare that in creating the Bond Fund and fixing the;.amounts
to be paid.into it. -as aforesaid, they have exercised due regard to the cost
of operation and maintenance of the waterworks utility, including the system of
sewerage as a part thereof, and. the City of Pasco has not bound., and will: -not
bind and obligate itself to set aside,`.and pay into the Bond Fund a greater
amount or proportion of the revenues of the utility than in the judgment•of•the
City -Council will be,available over and above :such cost of maintenance and
operation,; and the amounts pledged'for the payment of the outstanding "Special
Fund Water. -Sewage Revenue Bonds-; Series A,1' dated March 1, 1944;_"Special Fund
Water-SeW6ge Revenue'Bonds, 1944-1946, Series B,11 dated January.l, 1946; "Water
Revenue Bonds, 1948,",dated,March 1,-1948; and "Water and Sewer Revenue Bonds,
1954, dated January 1, 1954'; and that no portion 'of the revenues of said
utility.has been.pieviously pledged for any other indebtedness, except for -said
outstanding "Special Fund.Vater=Sewage .Revenue Bonds.,,Series.A," dated March 1,'
1944; "Special Fund Water -Sewage Revenue Bonds, 1944-1946, Series B," dated
January 1,-1946; "Water Revenue Bonds,. 1948,'" dated March 1, 1948; and "Water
and Sewer Revenue Bonds, 1954," dated January 1,.1954, heretofore referred.to.
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Section 9. The entire goss, revenues.of the waterworks utility of .the
City,' including the system of sewerage..as a part thereof, and including all
additions,.extensions and betterments thereof:at anytime_ made, as received,
shall be deposited in the "Water and Sewer Revenue Fund" of,the City._ There ,
shall first be -paid out of said fund all expenses of/aintenance and operation
of the utility. Maintenance and operation expenses shall include all expenses
reasonably incurred in the normal operation of the utility as it exists on a
day-to-day basis, including paying agents*.fees, 'i.f any, but shall not include
the costof additions to or extensions of the utility or other -capital -improve-
ments or depreciation0
'The Bond Fund is hereby -divided into two 'account's, namely; a
"Principal and Interest Account" and, a "Reserve !Account." So long as Bonds
are outstanding against the Bond Fund, the City Treasurer of the City of Pasco
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shall set: aside and pay.into the Bond Fund, after the payment of the expenses
of maintenance and operation of the. utility, out of the. "Water and Sewer
Revenue Fund," a fixed amount without regard to any fixed proportion, as
follows:
(a) Into the "Principal and Interest Account," monthly,
beginning on January 1, 1958, one-seventh -of the first
seven months* interest requirements on the Bonds, and
monthly, beginning on .August 1, 1958, one -twelfth of the
next ensuing twelve monthst requirements of both principal
of and interest on the Bonds; and
.(b) . Into the "Reserve -:Account," monthly,'beginning on
January 1, 1958, not•less than,$585.00 until the total sum
of $35,000.00 shall have been accumulated therein, which
total sum shall be accumulated by no later than December 1,
1962'.
The "Reserve Account" may be. accumulated from any other monies which the City
of Pasco may have available.for such purpose, in addition. 'to using said
revenues deposited in the "Water•and Sewer Revenue Fund.". The City further
agrees that when said total sum of $35,000.00 has been paid into the "Reserve
,Account," it will at all times, except for withdrawals therefrom as author-
ized herein, maintain that amount therein until there is a sufficient amount
in the "Principal and Interest ;Account" and the "Reserve Account" to pay the'
principal of and interest to maturity on all the outstanding Bonds.
In the,event that there shall be a deficiency in the "Principal and
Interest9ccount" in the :Bond Fund to meet the maturing installments of
either principal or interest as the -case -may be, such deficiency shall be made
up from the "Reserve-Account00 by the withdrawal of cash therefrom for that
purpose. ,Any deficiency created in'the "Reserve .Account" by reason of any
such withdrawal shall then be made up from the monies from the revenues of the
waterworks utility, including the sewerage system as a part thereof, first
available after making necessary provisions for the required payments into
the "Principal and Interest Account." Monies -in the "Reserve Account" shall
otherwise be held intact and may be applied against the last outstanding
Bonds.
All money in'the "Reserve Account," above provided for,shall be kept
on deposit: in the official bank depository.of the City of Pasco or in any
national.'bank as.trust funds for the holders.'of outstanding Bonds;. orshall-be
invested in United States Government obligations, maturing noi.later than'one
month.prior,to the••final maturity date of any outstanding Bonds... Interest
earned on any.such investment or on such bank account shall be deposited in
and become a part of the "Reserve'.Accougt" until there shall be the said sum
of.$35,000.00 accumulated therein,'after which.such interest shall be deposited
in the "Principal and Interest,Account.".;.
Surplusmoniesin the "Water and Sewer Revenue.Fund," after making
.-necessary provisions for the payment of the expenses of maintenance and opera-
tion of the vtility..and the required deposits to the Bond Fund, may be used to
make emergency repairs and/or.extensions.of and improvements to the utility'
when certified by the'City Engineer to be necessary and economically feasible,•
and/or for the redemption or purchase in the open market of outstanding Bonds.
If-the-City shall fail to set aside and pay into the Bond Fund -the
amounts which it has obligated itself by this.Section to set aside and pay
therein,, the holder of any Bond may bring•.'suit against the City to compel it
to do 'soe �r
Section 10. The.City further hereby covenants and agrees with the
owner and holder of,each of the Bonds, as.. follows:
(a) That.it will-not-sell, lease, mortgage, or in any manner
encumber or, dispose of all the properties Of the said waterworks
utility, including the sewerage system as'.a part thereof, now
belonging to or which may hereafter belong to it, including*all
additions, betterments and extensions thereof at any time made,
.•.unless'prov.isi.on is made for-payment into-the Bond Fund of a sum
sufficient to-pay the principal of and interest on'all the'out
,.standing Bonds, in accordance with the terms thereof; and further
hereby.binds itself irrevocably-not to mortgage, �sell,.lease or
in.any manner dispose of any. part of the waterworks utility,
including the system 'of sewerage as a part thereof, including.
all additions,-betterments and extensions thereof at any time
;made, that is used, useful and material to the..oper.ation of said
'waterworks utility unless provision is made for replacement
thereof or for payment into the Bond Fund of.an amount which
shall bear the same ratio to the amount of outstanding Bonds as
the revenue available for debt service for said Bonds for the
twelve months preceding such sale, lease,.encumbrance.or dis-
posal from the portion of the utility so"leased, encumbered or
disposed of.bears to the revenue available for .debt service :for
said Bonds. from the entire utility for the same period. Any
such money so paid into the'Bond Fund shall be used-to retire
outstanding Bonds at the,earliest-possible 'date.
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(b) -That-it will maintain in good condition and operate
said waterworks utility, including the system of sewerage
as a part thereof, and will establish,. maintain and collect
such rates as will produce gross revenues from the said
waterworks utility, including the system of sewerage as a
part thereof, sufficient to permit payment into the Bond
Fund of the amounts required for.the payment -of the princi-
pal of and interest.on the Bonds as they become.due and the
amounts that are required to be paid into the "Reserve
Account". therein.and, in addition.thereto, that it will pay
all.costs of maintenance and operation, and taxes, and meet
the debt service requirements of the outstanding "Special.
.Fund Water -Sewage Revenue Bonds, Series A," dated March 1,
1944; "Special'Fund Water -Sewage Revenue Bonds, 1944-19.46,
Series B," dated -January 1, 1946; "Water Revenue Bonds,
1948,11 dated March 1, 1948; and "Water and Sewer Revenue
Bands, 1954,i1 dated January 1, 1954, and otherwise meet the
obligations of the City as herein set forth.
(c) That it will, while any of the Bonds remain out-
standing., keep -proper books of accounts and records
separate and apart from other accounts and records., in
which complete and correct entries will be made of all
transactions relating to the said waterworks utility,
including the system of sewerage. as a part thereof, and it,
will furnish the original purchaser of said Bonds, or any
subsequent holder or holders thereof, complete operating and
income statements of said waterworks utility, including the
system of sewerage as a part thereof; in reasonable detail,
covering any fiscal year not more than thirty days after the
close of such fiscal year, and it will grant any holder or
holders of at least twenty-five per cent (25%) of the out-
standing Bonds the right at all reasonable times to inspectx
said utility and all of the records, accounts and data of
the City relating thereto. Such operating and income state-
ments shall, include the .following items:
(1) Balance sheet, including balance of all funds
created by this Ordinance;
(2) Statement of Cash Receipts and Disbursements;
(3) Income and Expenses;
(4) Insurance data;
(5) Number of metered customers; number of unmetered
customers; number of properties connection to the utility
in last fiscal year; number of fire hydrants; number of
applications for water and sewerage service on hand;
(6) Gallons of water through master meter and gallons
of water billed; estimate of gallons of water used for
flushing of mains and fires and gallons of water unaccounted
for;
(7) A recapitulation of funds or accounts created by
this Ordinance into which are put -moneys -derived from the
operation of the utility or moneys derived from the sale
of investments herein authorized, such analysis or recapi-
tulation to show balance at beginning of period, deposits
and withdrawals made during period and balance at end of
period; also monthly deposit.requirements for funds
during next succeeding fiscal period;
- 13 -
LO
(8) Total: annual water and: sewer billings and '
average monthly billing 'per customer;
(9) Rate schedule®
Upon request of -any holder of any of said Bonds, it will
also furnish to such holden a copy of the most recently
completed audit of the Cityts'accounts.by the State
Auditor of. Washington.
(d) That -it will'establish, maintain and aollect.such
rates and charges for water and for sanitary sewage service
as long as'any of the Bonds are outstanding as.will make
available for the payment of the principal.of and interest
on all.such'Bonds as the'. -same shall become due an amount
equivalent to at least 1,.4 times the average annual debt
service requirement, both principal and".interest,:,for the
then outstanding Bonds and ofIthe outstanding "Special
.Fund Water -Sewage: Revenue Bonds, Series`.A,f1 dated March 1,
x.944; "Special Fund Water -Sewage Revenue Bonds, 1944=1946,
.Series B;" dated January 1.;1946; "Water Revenue Bond,
1948," dated March 1, 1948;.,and "Water and Sewer Revenue.
Bonds, 1954:;" dated: January 1:;. 1954,. and of any bonds here
after issued on -.'a' parity with the outstanding "Water 'and
Sewer Revenue Bonds., 1954," and the Bonds in accordance
with the'provisions:of ,Tt,ion_;13 of Ordinance No. 768" as .
amended;"by. Ordinance No: ,774,. after,deducting ite necessary
costs of maintenance and operation.and.taxes from the gross'
revenues of its waterworks utili:ty,,including the system of
-sewerage-' as a. part:.t}ereof.
(e) That it will not furnish,water or sewerage service
to any customer whatsoever free of charge and it shall, not
later_ than sixty (60) days after the end of each calendar
year, take.such.legal action as may be feasible to enforce
collection of all collectible delinquent accounts .and, in
addition thereto',.shall promptly avail•itself of its.util-.
h
ity lien rights, as set fortin RCW.35.21.290_and
35.67.200, et seq.,-and all acts amendatory thereof.
(f) That.it will carry the types of insurance on its
waterworks utility properties:in,the amounts normally
carried by private water.or sewer companies engaged in the
operation of water or sewerage systems; and. the, cost• of
such insurance shall.'be considered a part .of operating and
maintaining said utility. If; as, and when, the United
States o.f America,.or some agency thereof, shall•provide
for war risk insurance,'the City,further agrees,to take
outand maintain such insurance on all or' such portions of
said utility on which such war -risk insurance.may be
written in an amount or amounts to cover adequately .the
value thereof.
(g) Tnat'so long as any -Bonds are outstanding it -will
not impose any tax.or excise on the purchasers of.watei or
any excise or tax -measured by the amount of water so used, -
or sewerage services' furnished or the: amounts of - the bills
...payable for water so used''�or sewerage services furnished.
(h) That it will maintain its corporate identity.and
existence so long as any Bonds remain outstanding.
(i) That it will"'not grant'any competing.utility ser-
vice franchise and will use all legal means to prevent
competition with its. said utility.
14 -
form:
No.
Section 11, The Bonds shall.be in substantially the following
$1,000.00
UNITED STATES OF :AMERICA
STATE OF WASHINGTON.
CITY OF PASCO
WA�,TER AND SEWER REVENUE BOND, 1957
KNOW ALL MEN BY THESE PRESENTS that the City of Pasco,
Franklin County, State of Washington, for value received,
hereby promises to pay.to the bearer on the 1ST DAY OF
JULY, 19the principal sum of
-ONE THOUSAND DOLLARS
together with interest thereon at the rate of five per
..cent (5%) per annum, payable semiannually on the .lst.days
of January and July of each'year,.upon the presentation
,.and surrender of the -.attached interest coupons as they
severally mature up to the bond maturity date and with
full obligation on the part of the City to pay interest at
the same rate, from.and after the bond maturity date.,-
until this bond with -interest i•s paid in full, or until
this bond, if callable, shall have been duly called for
redemption and the redemption, price, including interest -
to such. call date, deposited in the "Water and Sewer
Revenue Bond Fund, 1957,11.of the City. Both.principal of
and interest on this bond are payable in lawful money of
the United States of.America at the office of the City
Treasurer of Pasco, Washington, or at the fiscal agency
of the State of Washington in the'City of New York, New
York, at the option of the holder hereof, solely out of
the special fund created by Ordinance No. and known
as the "Water and Sewer Revenue Bond Fund,�,,1 (here-
inafter called the "Bond Fund"), into which'fund the City
of Pasco hereby irrevocably binds itself to 'pay certain .
fixed amounts out of the gross revenues of -the waterworks
utility, including the sewerage system as a part thereof,
now belonging to or which may hereafter belong to the
City, including all additions, replacements, extensions
.and betterments now or at any time hereafter made or con-
structed, without regard to any fixed proportion, namely,
an amount.sufficient to pay the principal of and interest
on this issue of bonds as they respectively become due,
and to create a reserve, in the total -sum of $35,000.00,
all at the times and in the manner set forth in Ordinance
No,1�t�. The .bonds of this issue are not a general
obligation of the City.
- This bond is one of a total issue of $650,000.00 par
value of bonds, all.of like date, -tenor and effect,
except as to maturities, all payable from the said Bond -
Fund, and all issued by.the City under and pursuant to
the laws -of the State of Washington and Ordinance No 47
- 15 :-
of the City for the purpose of obtaining the funds with
which to pay the cost of carrying out a system or plan
for making additions to'and betterments and extensions
of the waterworks utility of'the City, including the.
system of sewerage as -a part thereof. Reference,is made
to said Ordinance as more.fully describing the covenants
with and rights of holders of bonds of -this issue.
The City of Pasco has -reserved the right to.redeem
any or all of the outstanding bonds of.. -this issue out of
the revenues. -of the waterworks utility of the City,
including the system of sewerage as a part -thereof, at
par, plus•accrued interest, on January 1, 1963,,or on
any semiannual interest payment date thereafter, in
inverse numerical order, highest numbers.fir.st., and -has
reserved the right to redeem the bonds as a whole for
refunding purposes at the following redemption prices
if called 'at the following times, plus accrued interest
to date of..redemption in_ each case, ' to wit
On January 1, 19.63, at $105.00 -per each $100 par value thereof
On -July 1, 1963, at $104.50*pe each,$100 par value thereof
On January 1, 1964,. at $104.00 per each $160 paf value thereof.
On July 1, 1964, at'.$103.50 per each $100,par.value. thereof
On.January 1, 1965, at $103.00 per each 1$100 par value thereof
On July 1, 19659 at $1.02.50 per each -.$100 par value thereof
On January 1, 1966,..'at $-102.00 per each '$100 par value thereof
On July'l, 1966, at $101.50-per•each $100 par. value thereof
On January l., 1967, at $1016,00 per each $l00 par value thereof
On July 1, 1967, at $100.50 per each $100 par value thereof
On January 1, 1968, at $100.00, and thereafter at par.
Notice of any call for redemption.of the bonds of this
issue prior to their stated maturity date shall be pub=
lished once in the official newspaper of the City, not less
than thirty nor more than forty-five days prior to the.date
of redemption. Notice of such call for redemption shall
al.so.be mailed to Terry Thompson & Co.,, 901 Northern Life
Tower; Seattle, Washington,'or'.its successors, within the
same period. Interest on any bonds so called for redemption
shall. cease on the date fixed.for such redemption upon pay-
ment of the redemption price into.the Bond Fund.
The bonds of%thisissue constitute a charge or lien upon
the gross revenues of the waterworks utility of.:the City,
including the system of sewerage as a part thereof, together
with all additions thereto and betterments. and extensions
and replacements thereof.at any time made, prior.and superior
to any other charges whatsoever, excluding charges for main-
tenance and operation of said utility, except that the charge'
or lien upon said gross revenues for the bonds of this issue
are subordinate and inferior to the prior charge or lien
against the" -same for the outstanding "Special Fund Water -
:Sewage Revenue.Bonds, Series A," dated Murch 1,*.1944,
"Special Fund Water -Sewage Revenue Bonds, 1944-1946, Series.
B," dated January 1, 1946, and the "Water Revenue.Bonds,
1948," dated March 1, 1948,'.and except further that the
lien or charge upon said.gross revenues for the bonds of this
issue shall be on a parity with the charge or lien upon such
.'gross revenues for the outstanding "Water and Sewer Revenue.
Bonds, 1954," dated. -January 1, 1954, and for any additional
water and sewer revenue bonds that may be'hereafter issued
in accordance -with -the provisions, of Section 13 of Ordinance
No. 768, as -amended by Ordinance No. 774.
16 =
The City of Pasco hereby covenants and agrees to and with
the holders of this bond that it will keep and perform all
covenants of this bond and of Ordinance No. 914 to be by it
kept and performed, and it further covenants and agrees to
maintain in good condition and to operate said waterworks
utility, including the system of sewerage as a part thereof,
and to establish, maintain and collect such rates and charges
in connection therewith as will produce the gross.revenues
necessary to meet the obligations,of the said City as herein
set forth and as set.forth in Ordinance No. 914.
It is hereby certified and declared that the bonds of
this issue are issued pursuant to and in strict compliance
,with the Constitution and laws of the State of Washington
and the ordinances of the City of Pasco., and that all acts,
conditions and things required to be done precedent to and
in the issuance of this bond have happened, been done and
performed as required by law.
IN WITNESS WHEREOF the City of Pasco, Washington, has
caused this bond to be signed by.its Magor and attested by
its Clerk and its corporate seal to be hereto affixed, and
the interest coupons attached to be signed with the facsimile
signatures of said officials this 1st day of -December, 1957.
CITY OF PASCO, WASHINGTON
BY.
M A Y 0 R
ATTEST:
C L E R K
The interest coupons attached to.1the Bonds shall be in substantially
the following form:
On the 1st day of (January) (July), 19 , THE CITY OF
PASCO, WASHINGTON, uponlresentation and surrender of this
coupon, will pay to bearer at the office of the City
Treasurer the sum of TWENTY-FIVE DOLLARS ($25.00) (on
Coupon No. 1, $29.16) in lawful money of the United States
of America fromthe Special fund of the City known as
"Water and Sewer. Revenue Bond Fund, 1957", said sum being
six months' interest (seven months' interest on Coupon No.
1) then due on its "Water and Sewer Revenue Bond, 1957,"
dated December 1, 1957, and numbered
ATTEST:
C L E R K
-17-
Coupon No.
CITY OF PASCO, WASHINGTON
BY
M A Y O R
The"Bonds shall be printed on"'lithographed forms, shall be signed
by. the May attested by the Clerk, and'shalf have the seal of the City
of Pasco affixed thereto, and: thelnterest coupons shall bear the 'facsimile
signatures of the Mayor -and the Clerk.
Section 12. !All monies,derived from the sale of the Bonds.shall be.
expended"solely for the purposes of carrying out the plan,or system of addi-
tions to and betterments, and.extensi.ons of the waterworks utility of the City
of Pasco, including.the system of sewerage as a part thereof, as set forth in
Section 2 hereof, upon-certification.by the, City Engineer that;all work to
date of payment has been completed_satisfactorly.
Section 13. The provisions of this Ordinance shall constitute a "
contract 'kietween 'the City' and the Holders of the Bonds herein authorized to be
issued'and•no'amendments" hereto`, modifications hereof or. supplements hereto
affecting in any manner the,.rights of the holders of outstanding Bonds shall
be made-ur -less theg written" consent of the holders of not less than seventy-
five per cent 05%) in aggregate principal amount of the outstanding Bonds
shall have first_bee.n obtained.
Section 14.. .Terry Thompson & Co., of Seattle, Washington,.has
offered to purchase the Bonds ata price of'$91.00 per each $100.00 par value
thereof, plus accrued interest from the date of issuance to the date,of
delivery of the Borids,:.the purchaser to furnish the printed bonds at its
-expense and'the. City to furnish the unqualified approving legal opinion of
Messrs. Weter, Roberts & Snefelman, municipal bond counsel,of Seattle,
Washington,, at -the Citytts expense.. The City Council. is of the opinion that.no
better price .can.be obtained for the Bonds, and that."it is in the best inter-
ests o.f the City to accept said offer and said'offer is hereby'accepted. The
first -numbered $249,000.00 par.value of said Bonds.shall immediately upon
their execution be delivered to Terry `Thompson & Co.,':Seattle, Washington,
upon said:.purchaseres paying for the same in;accordance with its offer., and
the remaining $401,000.00, par value thereof shall be delivered to said our-
chaser,-upon`payment therefor, at'a date to be hereafter"fixed and mutually
satisfactory to the. City and said.purchaser. The principal amounts received
- 18 -
from the sale of the Bonds shall be deposited -in the "Water and Sewer
Construction Fund" of the City and shall be expended as aforesaid, and the
accrued interest received shall be deposited in the Bond Fund.
PASSED by'the City Council at a regular meeting thereof and
APPROVED by the Mayor of the City of Pasco, Washington, this 3rd -'day of
December, 1957.
r
MAYOR
ATTEST:
C I T Y C L E R K.
APFRO ED )AS TO FORM
C I T Y A T T .0 R N 'E Y
19
s
SIGNATURE IDENTIFICATION AND NON -LITIGATION CERTIFICATE
.1, HARRY V. CUSTER, hereby certify that I am the Mayor of the City of
Pasco, Washington; and have been at all times since April 1, 1953
.1 further certify that ADAH M. PERRY is the Clerk of the City of
Pasco, Washington, and has been at all times since j anuary 3. 1939
I further certify that I have executed $650,000.00 of "Water and Sewer
Revenue Bonds, 1957," of the City of Pasco, Washington, all dated December 1,
1957, all in denominations of $1,000.00 each, and bearing interest at the rate
of 5%.per ,annum, payable semiannually on January 1st and July 1st of each year.
These bond's will mature serially, annually, in accordance with the following
schedule, 'to,wit:
Bond
Numbers
Amounts
Maturities
1
to
59
inclusive
$ 5,000
July
19
1959
6
to
10,
$ 5,000
July
10
1960
11
to
189
$ 81000
July
1,
1961
19
to
349
'•
$169000
July
19
1962
35
to
51,
$17,000
July
1,
1963
52
to
699
$189000
July
1,
1964
70
to
799
$10,000
July
19
1965
80
to
90,
$119000
July
19
1966
91
to
101,
$119000
July
1,
1967
102
to
1139
$129000
July
1,
1968
114
to
1259
$12,000
July
1,
1969
126
to
138,
$13,000
July
1,1970
139
to
152,
$14,000
July
1;
1971
153
to
167,
$15,000
July
1,
1972
168
to
182,
"
$15,000
July
1,
1973
183
to
1979
$159000
July
1,
1974
198
to
2149
$179000
July
1,
1975
215
to
231,
$179000
July
1,
1976
232
to
249,
$18,000
July
11
1977
250
to
2679
$18,000
July
1,
1978
268
to
2869
$19,000
July
1,
1979
287
to
306,
$20,000
July
1,
1980
307
to
326)
$20,000
July
1,
1981
327
to
348,
$22,000
July
19
1982
349
to
371,
$23,000
July
1,
1983
372
to
395,
$249000
July
19
1984
396
to
475,
$80,000
July
1,
1985
476
to
5609
"
$859000
July
19
1986
561
to
650,
$909000
July
19
1987
I further certify that I have signed each of the aforesaid bonds as
Mayor of the City of Pasco, Washington, and that the coupons attached to the
bonds each bear my facsimile signature.
I further certify that ADAH M. PERRY has signed each of the aforesaid
bonds as Clerk of the City of Pasco, Washington, and that the coupons attached
to the bonds each bear the facsimile signature of ADAH M. PERRY as Clerk.
I further certify that no litigation of any nature is now pending or,
to my knowledge, threatened, restraining or enjoining the issuance, sale,
execution or delivery of said obligations, or the fixing or collection of the
revenues, rates and charges pledged to pay the principal of and interest on said
obligation's, or the pledge thereof, or affecting in any way the right or authority
of the City to pay said.obligations, and the interest thereon, or otherwise
carrying out the terms and provisions -of Ordinance No. 914 of the City,, and the
covenants and agreements therein, and each of any of them with respect to said
obligations, or in any manner affecting the proceedingsand authority for the
issuance,.sale, execution or delivery of said obligations, or affecting directly
or indirectly the validity of the obligations or of any provisions made or
authorized for their payment, or the power of the City to acquire and construct
the waterworks utility improvements, or the corporate existence or boundaries of
the City or the title of the present officers or any of them to their respective
offices, and that none of the proceedings or authority for the issuance of said
obligations has been repealed, revoked, rescinded, modified, changed or altered
in any manner.
SIGNED this 19th day of December, 1957.
L.
c�;, ,r,•' �t',,. ?� .SGP f �' . 4� _ � ,�. �'._ , . � -
HARRY V. CUS`i'ER, Mayor of the City of
Vasco, Washington
- 2 -
SIGNATURE IDENTIFICATION AND NON -LITIGATION CERTIFICATE
10 ADAH M. PERRY, hereby certify that I am the Clerk of the City of
Pasco, Washington, and have been at all times since January.3, 1939
I further certify that HARRY V. CUSTER is the Mayor of the City of
Pasco, Washington, and has been at all times since April 1, 1953
I further certify that I have executed $650,000.00 of "dater and
Sewer Revenue Bonds, 1957," of the City of Pasco, Washington, all dated December
19 1957, all in denominations of $1,000.00, and bearing interest at the rate of
5X per annum, payable semiannually on January 1st and July 1st of each year.
These bonds will mature serially, annually, in accordance with the following
schedule, to wit:
Bond
Numbers
Amounts
Maturities
1
to
5,
inclusive
$ 51000
July
1,
1959
6
to
109
it$
59000
July
1,
1960
11
to
180
$ 89000
July
19
1961
19
to
349
$16,000
July
19
1962
35
to
519
$17,000
July
1,
1963
52
to
69,
.$18,000
July
1,
1964
70
to
790
$10,000
July
1,
1965
80
to
90,
$119000
July
11
1966
91
to
101,
$11,000
July
1,
1967
102
to
113,
$129000
July
1,
1968
114
to
125,
$12,000
July
1,
1969
126
to
138,
$13,000
July
1,
1970
139
to
1521,
$14,000
July
1,
1971
153
to
167,
$150000
July
1,
1972
168
to
182,
"
$159000
July
19
1973
183
to
19779
$15,000
July
1,
1974
198
to
214,
$17,000
July
1,.
1975
215
to
2319
$17,000
July
1,
1976
232
to
2411,
$18,000
July
1,
1977
250
to
2679
$189000
July
19
1978
268
to
286,
"
$19,000
July
1,
1979
287
to
306,
"
$209000
July
1,
1980
307
to
3260
$20,000
July
1,
1981
327
to
34139
"
$22,000
July
1,
1982
349
to
371,
$23,000
July
1,
1983
372
to
395,
$24,000
July
1,
1984
396
to
4751
"
$80,000
July
1,
1985
476
to
560,
it
$859000
July
19
1986
561
to
6509
It$900000
July
19
1987
I
further certify
that I have signed each
of the aforesaid bonds as
Clerk of the
City of Pasco,
Washington, and that the
coupons attached
to
the
bonds
each bear
my facsimile
signature.
I further certify that HARRY V. CUSTER.has signed each of the afore-
said bonds as Mayor of the City of Pasco, Washington, and that the coupons
attached to the bonds each bear the facsimile signature of HARRY V. CUSTER as
Mayor.
I further certify that no litigation of any nature is now pending or,
to any knowledge, threatened, restraining or enjoining the issuance, sale,
execution or delivery of said obligations, or the fixing or collection of the
revenues, rates and charges pledged to pay the principal of and interest on said
obligations, or the pledge thereof, or affecting in any way the right or author-
ity of the City to pay said obligations, and the interest thereon, or otherwise
carrying ou,t the terms and provisions of. Ordinance No. 9.14 of the,.City, and the
covenants and agreements therein, and each or any of them with respect to said
obligations, or in any manner affecting the proceedings and authority.for the
issuance, sale, execution or delivery of said obligations, or affecting
directly or indirectly the validity of the obligations or of any provisions
made or authorized for their payment, or the power of the City to acquire and
construct the waterworks utility improvements,, or the corporate existence or
boundaries, of the City or the title of the present officers or any of them to
their respective offices, and that hone of the proceedings or authority for the
issuance of said obligations has been repealed, revoked, rescinded, modified,
changed or altered in any manner.
SIGNc"D'this 19th day of December, 1957.
r r.
ADAN M. PERRY, Clerk of. t e City of
Pasco, Washingto�i
- 2 -
r
obligations, or in any manner affecting the proceedings and authority.for the
issuance, sale, execution or delivery of said obligations, or affecting
directly or indirectly the validity of the obligations or of any provisions
made or authorized for their payment, or the power of the City to acquire and
construct the waterworks utility improvements,, or the corporate existence or
boundaries, of the City or the title of the present officers or any of them to
their respective offices, and that hone of the proceedings or authority for the
issuance of said obligations has been repealed, revoked, rescinded, modified,
changed or altered in any manner.
SIGNc"D'this 19th day of December, 1957.
r r.
ADAN M. PERRY, Clerk of. t e City of
Pasco, Washingto�i
- 2 -
V
I HEREBY CERTIFY that I am of
the ' EALL� - )f �t! r x;` a� , and that I am personally
Acquainted with HARRY V. CUSTER and ADAH M. PERRY, and that I know that
they are now and were at the time of signing the :650,000.00 of "Muter and
Sewer Revenue Bonds, 1957," of the City of Pasco, Washington, and the
Signature Identification a n d Non -Litigation Certificates to which this
certificate is attached, the duly acting Mayor and Clerk, respectively, of
the City.
I do further.identify the signatures of HARRY V. CUSTER and ADAH M.
PERRY as_fMayor and Clerk, respectively, of the City of Pasco, Washington, on
the above-described bonds and the Certificates attached, as being in all
respects genuine and the signatures on'the coupons attached to said bonds as
the true facsimile signatures of said officials.
DATED at Pasco, Washington, thisi ,, day of December, 1957.
PASCO BRANCH
SEATTLE,_FIR.5T NATIONAL BANK
PASCO. WASHINGTON 12-19-57
RECEIVED from Pasco City Treasurer
.'�ater & Seger Revenue Bonds #1 to #249 inclusive Dollars $
FORM 44 PS
To be shipped to Pacific National Bank
attention 1,74.illard hla yell, Vice President
� EA �. � � Ic1A�IGNf�.I o�/.•
=�a
AUTHORIZED SIGNATURE
manager