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HomeMy WebLinkAbout567 ,.~ ~. .~.~ ... .'- -- ORDIN~JCE NO. 567 JUT ORDINANCE specifying and adopting a system or plan proposed by the 'Ji ty of Auburn, W'ashington, for making additions and betterments to and extensions of the existing municipal water works system of said city, declaring the estimated cost thereof, as near as may be, providing for the issuance and sale of bonds to pay the cost there- of, and submitting the matter for ratification or rejection to the qualified voters of said city at the general municipal election to be held therein on March 10, 1925. WHEREAS, the City of Auburn, King County, Washington, owns, controls, maintains and operates a municipal water works system, which system is inadequate to meet the existing re- quirements of said city for water, and there is a constantly increasing demand in said city for more water, and said re- quirements and demands necessitate the making of additions and betterments to and extensions of said system, and the same can be most efficiently and economically accomplished by the adoption and construction of the system or plan therefor here- inafter set forth and for brevity hereby designated the "COAL CREEK SPRINGS WATER EXTENSION PROJECT"; NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF AUBU~~ DO ORDAIN AS FOLLOWS: SECTION 1. That the said demands and requirements of said city for water make it necessary and advisable that said city make additions and betterments to and extensions of its existing municipal water works system, and said city and its corporate authorities hereby propose, specify and adopt the system or plan hereinafter set forth for the making of additions and betterments to and extensions of the existing municipal water works system of said city: That said city acquire the st of the SEi and the SEi of the swi- of Sec. 28, and also the Nt of the NE-l- of 1 ~c.--'~-''3:~~'='~ --"""""':;i ~",*...~...........-- .- .. Sec. 33, all in Township 21 North Range 5 E. W. M., King County, Washington, on which lands are located certain springs commonly known as "Coal Creek Springsf!, and also acquire the right to take, divert and use all of the waters arising from said springs and any other source on said lands; and';" That said city construct on said lands a suitable concrete and steel intake, including all necessary screens, gates, weirs and control equipment; and That said city acquire a suitable right of way apuroximately two rods in width running in a general northwester- ly direction from said intake to the loca~ion of the head tank hereinafter mentioned, and construct un such right of way a 24 in. pipe line to conduct the waters from the lands above described to said head tank; and That said city acquire a site of ap~roximately two acres in ~ Sec. ~O, in Township 21 North Range 5 E.W.lif. in said County, and construct thereon a concrete head tank of approximately 12,000 gal. capacity, and also construct thereon a pumping station and install therein hydraulic pumps, and construct 12 in. diameter steel pen stocks for the flow of water from said head tank to said pumping station; al~ That said city acquire a suitable site of approximate- ly ten acres in ~ =~6i Sec. 20, Township 21 North Range 5 E. W. M., in said County, and construct thereon a concrete reservoir of 2,000,000 gal. capacity, and acquire a suitable right of way between said pumping station and said reservoir, and construct thereon a pipe line 14 in. in diameter to conduct water from said pumping station to said reservoir; and That said city acquire a suitable right of way between said reservoir and the corporate limits of said city, and construct thereon, and also on 4th st. in said city, a 2 ,",,-:>:,:~..,:,::~~ ~:~-r '~~...--;--: . . supply line to conduct water from said reservoir to a connection on said 4th St. with the existing distributing water system of said city~ and That said city also construct and install all necessary gates, valves, fittings and otiler necessary appliances and equipment, and acquire all rights, easements, privileges, franchises, permits and other property necessary or required in connecti on therewith. <fI The estimated cost of the proposed system or plan specified and adopted, as aforesaid, is hereby declared, as near as may be, to be the sum of $200,000. SECTION 2. That in order to carry out the said proposed system or plan, said city shall issue and sell its bonds in an amount not exceeding $200,000, which bonds shall be issued in such amounts and from time to time as the City Council may direct. Said bonds may be issued in one Or more series. If issued in one series, said bonds shall mature as follows: $3,000 annually 3, 4 and 5 years after date of 'bonds; ~4,000 6 years after date of bonds; $5,000 annually 7, 8 and 9 years after date of bonds; $6,000 10 years after date of bonds; ~7,000 11 years after date of bonds; $8,000 12 years after date of bonds: $9,000 13 years after date of bonds; $10,000 14 years after date of bonds; $13,0)0 15 years after date of bonds; $14,000 16 years after date of bonds; $15,000 17 years after date of bonds; $16,000 18 yeays after date of bonds; ~17,000 19. years after date of bonds; $18,000 20 years after date of bonds; ~19,OOO 21 years after date of bonds; and $20,000 22 years after date of bonds. If such bonds be issued in' more than one series, the bonds of each series shall be of average maturities, as near as may be without issuing bonds of less than $1,000 denominations. 3 ,-~::.""",~"'-^ .- ..- Said bonds shall bear interest not exceeding 6% per annum, payable semi-annually, for which interest coupons shall be attached to said bonds, and shall be issued in such denominat~on or denominations, and shall bear such convenient numbering and other designation as may be determined by the City Council. Both principal and interest of said bonds shall be payable in Gold Coin of the Urli ted states of America of the present standard of weight and fineness at the office of the City Treasurer, or at the Fiscal Agency of the State ofY Washington in New York City, at holder's option, and shall be an obligation only against the special fund created and established by this ordinance. SECTION 3. There shall be and hereby is created and established a special fund to be called "MUNICIPAL WATER EXTENSION FU~ID", which fund is to be drawn upon for the sole purpose of paying the principal and interest of said bonds. From and after the date or issuance of any of said bonds, and so long thereafter as any bond obligations are outstanding against said fund, the City Treasurer of said city shall set aside and pay into such fund, thirty days prior to the respective dates on which interest, or principal and interest of saiQ bonds shall become due and payable, certain fixed amounts out of the gross revenues of the municipal water works system of said city, including all additions and betterments to and extensions thereof, hereafter acquired or made, equivalent to the r2spective amounts of interest, or principal and. interest, as the case may be, so falling due upon all bonds ~sued hereunder and then outstanding, a.nd said revenues are hereby pledged to such payments of interest and princ;pa.l, which payments shall constitute a charge upon such revenues 4 ,_ ..~__=-,_,,:,".':'f""~'~~<:"__::"""''''-:<\ . "'",.~C~.".:~_,?';.s, , :.-._."-_......_ ".3" :''";1~. '~:,'..-;::~'!"_":"'_~ ~".~"' _'~_-<t:>T~~-.' -~~,-:,,: ..~~r:A~~}F 6- .. prior and superior to all other charges whatsoever, except necess'3,ry charges for maintenance and operation, and except charges upon such revenues sufficient to pay warrants drawn upon the water fund of said city issued on or bGfore June 30, 1925. The City Treasurer is hereby directed to make payment of such bonds and coupons as the same fall due from the moneys in said fund, ~nd the payment of said bonds and coupons, as they fall due, is hereby declared to be the only charge which ha3 been made, or ever will be made upon said fund, until all of said bonds and interest thereon have been paid in full.V Said city and its cor})orate authorities hereby declare that in fixing the amounts to be paid into said fund, as aforesaid, said city and its corporate authorities have exercised due regard to the cost of operation and maintenance of the existing municiual water works system of said city, including the proposed additions and betterments to and extensions theraoi', and to the uf-1rt of such revenues previously pledged as a fund for the payment of warrants issued, or to be issued, on or before June 30, 1925, and said city qnd its corporate authorities hareby expressly find and declare that said city end its corporate authorities have not hereby obligated cmd bound said city to set aside into such special fund a greater amount of such revenues than in the judgment of saiQ city and its corporate authorities will be available over and above such costs of maintenance and operation, and the amount of such revenues previously pledged. Sa14 cityh~r~by binds itself not to sell, lease, or - . in any manner dispose of the existing municipal water works system of said city, or any additions or betterments thereto or extensions thereof, until all obligations outstanding against 5 " .' . or payable from said special fund shall have baen paid in full, or until a sum sufficient to make such fkll payment has been placed in suid special fund. Said city furthar binds itself to establish from time to time and maintain such rates for water as will provide sufficient revenues to operate and maintain said system, and all additions and betterments thereto and extensions thereof, and to meet the payments which have been pledged to be set aside and paid into said special fund, as a.foresaid. SECTION 4. The system or plan in this ordinance proposed, specified and adopted for the making of additions and betterments to and extensions of the existing municipal water works system of said city, and the issuance of bonds, as in this/ordinance provided, to pay the cost thereof, shall be submitted for ratification or rejection to the qualified voters of said city at the general municipal election to be held therein on March 10, 1925. The polls at said election shall open at 8:00 o'clock A. U. and remain open until 8:00 o'clock P. ll. Notice of said election shall be given by the Election Board of King County, Washington, as provided by law, and ten days notice of such election shall also be given in "TEE WASHING~:mr CO-OP:SPcATOR", the newspaper doing the ci ty printing, by publication in each issue of said paper during said time, and the city clerk is hereby au".hori zed to cause such publication to be made. Said Election Board shall also proTide places for holding such election, shall appoint the precinct election officers, provide for their compensation, provide ballot boxes and ballots or voting machines, poll books and tally sheets and deliver them to the precinct election officers at the polling places, all as provided by law. The proposition hereby submitted shall ap~ear upon the ballot used at said election in a ballot title substantially in form as follows: 6 , !.j'c=.",;,,~ '-:~.~~-:"~~-- .. =' SHALL the City of Auburn make) ) extensions to its water system) ) and issue $200,000 water works) ) revenue bonds, as specified in) ) YES ( ) NO () Ordinance No. 5671 Every voter at said election desiring to vote in favor of the ratification of the above proposition shall mark an "x" in the square opposite the word "Yes", and every voter desiring to vote against the proposition shall mark an "x" in the square opnosite the word "No". In the event a majority of the qualified voters of said city voting at said election upon said proposition shall vote "Yes", such vote shall constitute and be a ratificatioo and adoption of said pro posi tion, and shall constitute full/' power and authority in said city to carry out said system or plan and issue said bonds to pay the cost thereof. The city clerk is hereby directed to forthwith certify to the Election Board of King County the aforesaid ballot title, as required by law. SECTION 5. This ordinance shall take effect from and after its passage, approval and due publication in the manner and at the time provided by law. Introduced, January 20, 1925. Passed, January 20, 1925. Attest: Approved, Approved as to form. ./j ~ . . '" ~~ :i,-; \ '~'~ A C I f;/xi~~rney '---- Published January 22, 1925. '7