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Home My WebLink About655 (pg 4 missing) ::- ORDINANCE NO. 655 ~..N ORDIl!ANCE: Accepting the bid of the Washington Mutual Savings Bank, of Seattle, IVashington, for "C" Street 1, .E. Condemna- tion Award Bonds, fixing the date and denomination of such bonds and the date on or before which the same shall be made payable, and the rate of Interest of said bonds, and providing the form of said bonds, directing the execution of said bonds and the sale and delivery thereof. TH~ CITY COUNCIL OF THE CITY OF AUBURN DO ORDAIN AS FOLLOWS: Section 1. That the bid of the Washington Mutual Savings Bank, of Seattle, Washington, offering to pay One Hundred and 03/100 Dollars ($100.03) and accrued interest to date of delivery for each One Hundred Dollars ($lOO.OOJ par value of "c" Street H. ~. Condemna- tion Award Bonds, the total amount of such bonds being the sum of Ten Thousand Eight Hundred Four and 70/100 Uollars ($10,804.70), such bonds to bear interest at the rate of six and one-quarter (&,t) per cent per annum, be, and the same hereby is, accepted. Section 2. That said bonds shall be dated June 5, 1928, shall be in denominations of Two Hundred uollars ($200.00) each, except- ing the first numbered of said bonds which shall be in the sum of Two Hundred Four and 70/100 Dollars ($204.70', shall bear interest at the rate of six and one-quarter (fri) per cent per annum, payable annually, shall have attached thereto interest coupons for each interest payment, and shall be payable on or before twelve (12) years from and after the date of said bonds. Section 3. That the City Clerk of Auburn is hereby ordered and direoted to cause to be printed such "C" Street N.E. Condemnation Award Bonds and that, upon execution thereof in the manner prescribed by law, said City Clerk be and is hereby authorized to sell and deliver said bonds to the Washington Mutual ~avings ~ankJ of ~eattlet Washington, -1- -d J - eJ= n :0 .= "l '. ...i ~_ .!t upon the payment to the City of Auburn of $100.03 and accrued interest. if any. for each ;;,noo .00 par value 0 f said bonds. Section 4. That said bond3shall be in the following form: UNITED STATES OF AMERICA Number State of ~ashington Dollars $ LOG A L IMPROVLkIENT BOlID Condemnation Award of th e CITY OF AUBURN N.B. The laws of the State of .Jashington under which this bond is issued, contains the following section: Neither the holder nOT owner of any. bond issued under the authority of this Act shall have any claim therefor against the City by which the same is assued, except from the special assessment made for the improvement for which such bond was issued, but his remedy, in case of non-payment, shall be confined to the enforcement of such assessments. A copy of this section shall be plainly written. printed or engraved on each bond so issued. The City of Auburn, a municipal corporation of the State of .;ashington hereby promises to pay to i'laB8iRgtO's--~.hd;u.a:l Say lr..o~ Bank o<!' bearer, Dollars, lawful money of the united ~tates, with interest thereon at the rate of six and one-fourth (6.25) per cent per annum payable annually out of the fund established b;j> ordinance No. 632 of said Oi ty and known as nc street H.E. Condemnation .d'Ulld" and not otherwise. both principal and interest payable at the office of the Oity Treasurer of said City. a coupon is hereto attached for each installment of intetest to accrue hereon and said interest shall be paid only on presentation and surrender of such coupons to the City ~reasurer. The City ~ouncil of said City as the agent of the Condemna- tion Award District heretofore established by commissioners duly appointed by the Superior Jourt of the State of Washington, for the uounty of King. in Cause No. 2008'78, to make an assessment against the property benefited for the improvement hereinafter referred to, the establishment of vlhich district was afterwards duly confirmed by said Superior Gourt, has caused this bond to be issued in the name of said Uity as the bond of said district, the bond or the proceeds thereof to be applied in part payment of so much of the cost and expense of the improvement of "en Street N.E. by the condemnationt appropriationt taking and dumaging of land and other property for the widening and extending of said street under Ordinance IJo. 628 as is levied and assessed against the :property ~ncluded in said lionderI1!l8;.t~. ~I~rict and (benefi tted by said llnproveLlent and the Said~.D ,-"~;,,p , nt l!lund bas bt:;en established by ordinance for said purpose; and the hold,r or holclE;rs af this bond shall look only to said fund for the payment of either the principal or the interest of this bond. . w "l f', _~. . ~ . This bond is one of a series of 54 bonds, aggregating in all the principal sum of Ten Thousand BL;ht Hundred ~'our and 70/100 Dollal's, issued for said local improvement district, all of which bonds are subject to the same terms and conditions as herein expressed. This bond is payable on or before the 5th day of June, 1940, but is subject to call by the City ireasurer for prior redemption on any interest date which call for payment shall be made by said J.'reasurer by publishing the same in the official newspaper of said Jity and when such call is madE: this bond /Vill be paid on the day the next interest coupon thereon shall become due after said call and upon said day interest upon this bond shall cease and eaGh and every coupon represent- ing interest not accrued upon said day shall be void. IH WITNESS WH..&lliOF, the City of Auburn has caused these presents to be signed by its Mayor and attested by its City Clerk and sealed with its corporate seal this 5th day of June in the year of our Lord one thousand nine hundred and tVlenty- eight. ~HB CITY OF AUBUR~ By May 0 r Attest: Ci ty Ulerk There shall be attached to each bond, coupons representing the interest thereon. payable annually for the period for which such bonds shall run, substantially as follows: no. $ On June 5, 19 ,the City of Auburn promises to pay to the bearer at the office of tne City Treasurer Dollars, being one year's interest due that date on bond No. of the bonds of Local Improvement no" Street N. .ll4. Condemnation Award District and not otherwise, providtd that this coupon is subject to all the terms and conditions contained in the bond to which it is annexed. ?HE CITY May 0 r By Attest: .;ity Clerk. Section 5. That such bonds shall be numbered consecutively b beginning with one (1). That the interest coupons attached thereto may have printed thereon a facsimile of the signature of the officers hereinbefore authorized to execute the same. -3- \ I I .' - J - . .. ~ ,__.... .~i_ STATE OF WASHINGTON, COUNTY OF KING, 1 ~ss. J d.B.Baringer appointed I, --------------------________________, the duly ~, qualified and acting City Clerk of the City of Auburn, a municipal corporation of the third class, situate in the County of King, State of Washington, cIo hereby certify that the foregoing is a full, true and correct copy of Ordinance N o._~~~____, of the ordinances of the said r The City of Auburn, entitled" AN ORDINANCE _A(lcepj;j.ll-C.._tl1~_1:!!~_!>_!__~!_.>!~~hingtoJl liutual SaviJICs Bank, of Seattle, ':lashingtoll, for "0" Street N.E. Condemnatioa .Award -Bo.l!Ida.,_..f1x.ing _ the_ da..ttLan4_ g.!tllQJ!lJ ~tJ_O}~ _ Q ~ _ ~.!1~~ _~~l!~~ _ ~!l~_ -~!r ~a ~~ on or before whioh the same shall be ~de payable, and the rate of lnterest QJ__s_a.l(Ll!Q~_IJ__~I!(LprQ!J~J}~..L~~~_!~!!!'_~!__~ati! ~~~, directing the executuon of said bo;"da and the sale and delivery thereof. - ----------------------- --------------------------------------- -------------------------- ~------------------------------------------------------------------------- --------.---------------------------------------------------------------------. " I further certify that said Ordinance Xo. ___~~~___ was duly passed by the qouncil and approve(l by the Mayor of tlw said The City of .auburn, and IJub- lished as provided by law in The _~llburA ..QlQ.l!.""':a'P!1).~l~@____________ a weekly newspaper published in the City of Auburn, and of general circulatiol!. therein, ...JIl: _ _ the ___~~"l~~j;tl___________h__ day of ---~'!I!~n______._____h_______, A. D., ;~_~~_~- - _________ day of