HomeMy WebLinkAbout505 (2) r ,
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ORDINANCE NO. 505.
• • . . ; . • AN ORDINANCE: declaring it to be advisable that the City of
tibUrni'. for strictly mumicinal purposes, borrow the •sum of
•115000X. and. issue its negotiable bonds therefor; and providing
, tor submitting, at a special election, to the qualified
electors of the Citu of Auburn, the question as to Wh eth e r such
; • moneys sh11 be borrowed ,and such bonds issued therefor.
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TEL •CITY COUNCIL OE TII.E CITY OP AUBURN DO Cb) Ii' S FOLi4OWS :
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- •.•!' e0t ion 1. ant the City Council of the City of Auburn
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dee mi it advisable that the City of i.uburn, for strictly muni-
cipal ,purpOses, to-wit : for the purpose of raising moneys with •
,• . whieh to acquire by purchase, condemnation and purchase, or
,,i•4!;: ::,,,etherwisc,, for use as a public park, approximately fifteen ( 15)
acres of land situate onthe easterly side of Auburn Avenue and
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in tie south 3- of the north of the northwest of -.-3e; et ion 18 ,
1ñ Township 21 north of Range 5 east W. 11. , in the, City of Auburn,
• . Iiii County- Washington, and with which to improve and beautify
sUCh'. public. park, borrow the sum of 159(:)00,00, and issue its
negotiable bonds therefore
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Section 2. That the City Council of the City of Auburn
-X;•;::,-.her,eby•autherize the creation of an indebtedness—& , and bor-
rowing, for strictly municipal purposes, tic SUM of -745,000.00 .
brthe issuarce of the negotiable bonds of said city therefor.
•: Section 3. Th..-t the assessed valuation of all the taxable-
property of the City of Auburn, to be ascertained by the assess-
. W;.: ment rolls of \King County, Washington, for the year A. D. , 1923,
said.aseessment for said year 1923 being the last assessifient for
! said Qity-of Auburn purposes previous to the date of the passage
ofthis Ordinanc.e , is the MI12 of : 1, 565, 547.00 ; that there is now
- - an•.existing bonded indebtedness , for strictly municipal- purposes. .
of said....city of Auburn, of 7,41,000.00 . and no more; that there is
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_nocther indebtedness , bonded or otherwise , of said City of Auburn,
and 'that the total indebtedness of said City of Auburn, including
; the said -indebtedness of . 15,000.00 hereby authorized to be
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created, will not exceed the sum of ,7:55,000.00, and will not
1 . exceed..:five ( 5) per cerituin of the taxable property of said city
to be, ascertained by the last assesE,J:lent for the City of Auburn
purposes previous to the date of passage of this Ordinance .
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3ection 4. . That the moneys derived from the sale of said.
bonds shall be applied and used only for the purpose of acquir-
ing•by purchase, condemnation and F.:urchase , or otherwise , pilb 1 C
. • park, and improving and beautifying such public park, as speci-
:. 4 ' fled in Section 1 of this Ordinance , ani for rio other nurpose
whatsoever.
Section 5. That a special election is hereby called and
shall be held. in the City of Auburn, Zing County, State of Washing-
' ton, on Tuesday, March 11, A. D. , . 1924, • and that at said special
eiectidinthere shall be submitted to the oualified electors of
' said eity of Auburn, for ratification or rejection, the following;
• "Shall the City for municipal
• purposes, to-wit : acquiring,
Bonds , yes - ( )
• 'improving and. beautifying a
. public park, borrow .';,',15,000.00 Bonds, no -
- • • and: issue its negotiable bonds
therefor?
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",: Section 6. That the polls of said special election shall
, be'ppen furor. 8 o' clock a. m. to 8 o ' clock p. _n. of said election
aforesaid p ro po s i t ion t o b e
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:': '�;,j'dsy, and the ballots bearingtt:e !j
,,, voted on shall be furnished to the qualified electors of the
, .;, e. ,--.City.City of• Auburn in the manner now provided by law; that each elec-
.`1 . '.tor..shall prepare his or her ballot by _parking an "X" in the
; 'k egiare:following the words "Bonds, yes" if he or she desires to
• .`.vote in favor of, and by larking an "X" in the square follow- ll: ': iIlg the words "Bonds, no" if he or she desires to vote against ,,
'Y.';ethe borrowing of such r..one:::3 rffd the ecesuance of said bonds; , I
° `. and that; in addition to the notice of such election that may HI
ra ...be given to the County Election `Board of king County , gashing- H
,ton;: the .City Clerk of the City of Auburn be and is hereby ordered
i. :-- !,x ' aridedirected to rive fifteen days notice of said special election ; ''
''' .t' in•the Auburn +slobe-i?eDticl ican, the newspaper doing the official
printing of said city, by publication of a Proper notice of said
. - election in each issue of paid newspaper during said fifteen •
, :day.periode
.0u Section 7. That if three-fifths of the legal ballots
e6st on said question of iest?ing bonds be in favor of "Bonds,
' yes" the City of Auburn shall be deaf:ed to be authorized to
:k #, .borrow the amount of money so voted for, to-wit,: ,:,,,115,000.00,
and issue its negotiable bonds the refer ; th �.t said bonds to be
• ' •issued shall be in denominations of :'500.00 each, shall be num-
: •-:bored consecutively from 1 to 30 inclusive , shall bear the date
'1 : of. their issue, shall bear interest not exceeding six ( 6) per
cent per annum, payable semi-annually, with interest coupons 1
'attached, and shall be serial in for..': and maturity as provided
..'., ..m,�,by'an act of the Legislature entitled "hila act relating to bonds
.'`..iesued by counties, cities , towns, school districts, port dis-
tricts, metropolitan park districts and other municipal cor;:or-
• • .;rt;• ,ations, and repealing all acts and parts o� acts in conflict
- 'y .• therewith" , approved :..;arch 20, 1923,3, Eald that , of said bonds, the
• bond bearing the highest number shall ..nature and be payable
i' ::'twenty years after the date thereof; and that each bond and con-
. •<' `>'"pen shall be signed by the Mayor and attested by the City
F %y
- !- Clerk under the seal of said City of Auburn.
- Section 8. That this Ordinance, shall take effect and be in
4-,'f force five days after its f.i.:Isa,e, Evb proval and publication as
• • ;required by loll.
Introduced January 22, 1924.
Passed 3^•naary 22, 1924.
Approved January 22, 1924
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. ',# x..' O. P. BLET.SCH , ..'ay o r.
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ra Attest: A. Ce.BAL.LARD - , City Clerk.
Approved as, to form,
. I. B. ki1ICK.E1-0 C1T ._R
�' '~ City Attorney
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.� : :Published January 25, 1924.
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>, ,S1ATE OF WASFITitiG ON,
;:,,k,'" `" -COUNTY OJ' .(TVG,
• f'; I, A. C. Ballard, the duly elected, qualified and acting
City Clerk of the Cit ; of Auburn, a municipal corporation of the
: . third, class,. situate in the County of <:ing, State of ,Vashin ton,
- • ,'-, ' '. do hereby certify that the foregoing is a full, true and correct
.: copy of Ordinance iTo . 505 , of the ordinances of the said The
': City -of Auburn, entitled. "AN OR.DIPADO : declaring it to be
::. advisable that the City of Auburn, for strictly municipal pur-
f:,-. poses, borrow. the sun of 7:15,000.00 and issue its negotiable
• - -4 • bonds therefor ; and providing far the subritti , at a special
election, to the qualified electors of the City of Auburn., the
: _ question as to whether such moneys :hull be borrowed and such
bonds issued. therefor."
I further certify that said Ordinance Po .. 505 was duly
passed by .the Council and approved by the :'':ayor of the said The
, City of Auburn, and published �Ls provided. by lcoi in The Auburn
-' Globe=l epublican a weekly newspaper published in the City of •
,:•':_ auburn;_ end of general circulation therein, on the 25th day of
g` January., A. D. , 1924.
',, ,'. 'fitness my hand and the official seal of the City of Ai bairn,
this 20th day of March, A. D. , 192!l_ . "/ ,
(Sagned) -
City Clerk of the t,ity ofze,______„,..„ Auburn
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