HomeMy WebLinkAbout505 - ,
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• 0 R D I 11 A IT C E i0. 505.
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• • AN ORDINANCE; declaring it to be advisable that the City of
Auburn,efor strictly municinal purposes, borrow the sum of
• .•'$1500.0.0D.. and issue its negotiable bonds therefor; and providing
for tile submitting, at a special election, to the Qualified
i. electors. of the City of Auburn, the question as to whether such
; t.'p,:"• moneys shall be borrowed and such bonds issued therefor.
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: THE -CITY COUNCIL OF THE CI ry OF AUBURN DO 0.1-WAIN i7OLLOWS
, ..,•• 3•eotion 1. That the City Council of the City of Auburn
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dee"; it. advisable that the City of Auburn, for strictly
cipal purposes, to-wit : for the purpose of raising moneys with •
• •whioh to acquire, by purchase , condemnation and purchase, or
Otherwise; for use as a public tnnirk, approximately fifteen ( 15)
acres of land situate on the easterly side of Auburn Avenue and
iiff:the south of the -north of the northwest of Section 18 ,
• • en- ineLownship 21 north of Range 5 east W. ii. , in the City of Auburn,
King. Cbunty, Washington, and with which to improve and beautify
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SuCh' public. pal..k, borrow the sum of ,:a5,000.00, and. issue its
negotiable:bonds the refor
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;, •::1`";• Sectien. 2. That the City Council of the City of Auburn
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hereby autherize the creation of an indebtednessteta ,- and bor-
rdiiig, for strictly municipal purposes, the SUM of l5,000.00 .
by t' e issuance of the negotiable bonds of said city therefor.
• • •' Section 3. net the assessed valuation of all the taxable
property of the City of Auburn, to be ascertained by the assess-
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nent• rolls of \King County, Washington, for the year A. D. , 1923,
e said. assessment for said year 1923 being the last assessiEent for
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• . said City •of Auburn purposes previous to the date of the passage
:. ofthis Ordinance , is the sum of 3.., 565, 547.00 ; that there is now
an existing bonded indebtedness, for strictly municipal- purposes.4.
n of said :uity of Auburn, of ;741 000.00 . and no more; that there is
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nocther, indebtedness, bonded or otherwise , of said City of Auburn,
end that the total indebtedness of said City of Auburn, including
the said indebtedness of .7:•15,000.00 hereby authorized to be
created, will not exceed the sum of -755,000.00, and will not
, • exceed 'five ( 5) per centum of the taxable property of said city
to be, ascertained by the last assessl:ient for the City of Auburn
purposes previous to the date of passage of this Ordinance .
"ection 4. . That the moneys derived from the stale of said
bonds shall be applied and used only for the purpose of ace.air-
. • int- by .purchase, condemnation and nurc?.1Eise , or otherwise , a public
.ee. •park, and improving and beautifying such public park, as speci-
fied in Section 1 of this Ordinance , ani for no other imrpose
v:rhatsoever.
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Section 5. That a special election is hereby called and
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• shall be held. in the City of Auburn, King County, .3tate of Washing-
ton,non Tuesday, March 11, A. D. , . 1924, • and that at said special
eiectiOn. there shall be submitted to the qualified elec-tors of
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said city of Auburn, for ratification or rejection, the following;
• "Shall the City for municipal )
-. purposes, to-wit : acquiring, ) Bonds , yes - - )
• 'e e• -improving and. beautifying a )
, public park, borrov./ l ,0O0 00 ) .nonds, no — ( )" •
and' issue its negotiable bonds )
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• „ bberefor?
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; .,. Section 6. That the polls of said special election shall
be' ppen fro^. 8 o' clock a. m. to 8 o' clock p. in. of said. election .
- j day, and the ballots bearing the aforesaid proposition to be 1;
eveted on shall be furnished to the qualified electors of the
-° City of Auburn in the manner now provided by law; that t each else- ii
e . tor..shall prepare his -or her ballot by marking an in the
' eeauam.' ollowin� the words "Bond.s, yes" if he or she desires to 11
- " �ry vote in favor of, and by narking an "X" in the square _folloti^1- i!'
. . h " " she , , s
.- �i^ ing,t.:e words Bonds , no if he or �71_e %esir•cs to vote. against , .�,,
• •the-:borrowing of such mune::=s andthe ;a.esuance of said bonds;
' and .that; in addition to the notice of such election that may I
;i- .be,Liven to theCounty Election Board. of King Co-�nty , tl
s y Clerk of the City of Auburn be and is hereby ordered
` ton;. tae .Git ,�.
i.. ,} arid directed to give fifteen days notice of said special election
• - j!'` :` in the .Auburn Globe-i e:uolican, the net nespaper doing the official .
printing of said city, by publication,tion of a proper notice of said
election in each 1ss11,e of paid newspaper during said fifteen ai
r$ ,' day.period.
• rk,.: Section 7 . That if three-fifths of the legal ballots
• cast on said question off' is suing bonds be in favor of "Bonds, ,
' ;. i n•t,. .n shall7 a 7t 1 z z.
I ' yes' Ole eiuy 0.1. AnDuril be deje : e; to be -�uthori ed to
' > borro the amount of money so voted for, to-wit,- !%1,-- 000.00,
and'issue its negotiable bonds therefor; th. .t said bonds to be
• yi ' issued shall be in denominations of -°>500.00 each, - shall be num-
j -bored consecutively from 1 to 30 inclusive, shall bear the date
e,ii of. their issue , shall bear interest not exceeding six ( 6) per
- .. le:_eent•-per annum, payable semi-annually, with interest coupons
�, serialfora, and maturity as provided
L : attached, and. shell be in
- : -'1 ':by an act of the riegisla,tare entitled. "An act relating to bonds
• • ', ': issued-by counties, cities , towns , school districts, port dis-
:: triets, metropolitan park di sand.a d other municipal coreor-
• rqi•ations, and repealing all acts d. parts of acts in conflict
s. -$'- therewith" , approved :._arch 20, 1923, send that , of said bonds, the
' -•,••-•LL''tbond bearing t e highest number shall mature and be pa y ab le- --a_£, tvienty . ears after the date thereof; and that each bond and. cou-
' ''; pon shall be signed by the Mayor and attested by the City
i ° - Clork•under the seal of said City of Auburn. •
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; -- _ Section 8. That this Ordinance shall take effect and be in
••:,!-,:.!-force force five days after its .:.;.sage, approval and publication as
':.required by law. Ij
• Introduced. J r a�n 'na ry 2 1924
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• Passed Jana_ary 22, 1924.
192
Approved January 22, 4
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{' J. i'. L'__.?iTSCFi , .. ayor.
' 'A Attest: A. C. BALL J) _ - - , City Clerk.
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. _ , - Approved as to fonn,
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T. B. .,14Icr k", 3 }CL:•
4" City Attorney
. Published January 25, 1924.
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' • - STATE OF WASHINGTON,
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•-•\ • ',•'COUNTY 031. XING,
I; A. C. Ballard, the duly elected, qualified. and. acting
City Clerk of the City of Auburn, a municipal corporation of the
•- a, third, class, situate in the County of King, State of ',Vashington.,
• do hereby certify thflt the foregoing is a full, true and. correct
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'e• copy of Ord.inance No . 505 , of the ordinances of the said. The
Cityof Auburn, entitled "AN 01IDIPAIICE: declaring it to be
advisable that the City of Auburn, for strictly municipal pur-
-•,,;-, poses, borrow the sum of .115,000.00 and issue its negotiable
-,f,, bonds therefor ; and providing for the submitting, at a special
':-•' election,, to the qualified electors of the City of Auburn, the
A . Question as to whether such moneys shall be borrowed and. such
bonds issued therefor."
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,'..: 1 further certify that said Ordinance /4o . 505 was duly
passed by the Council kind approved by the :,.7.ayor of the said The
City of Auburn, and published as provided by law in The Auburn
Globe-Republican a weekly newspaper published in the City of •
4., auburn, and of general circulation therein, on the 25th day of
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, Jn"nuary' A. D. , 1924.
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.4.' Witness my hand. and the official seal of the City of Auburn,
• this 20th day of March, A. D. 1924.
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(Sie,ned)
't' • City Clerk o t ..e City of Auburn
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