Laserfiche WebLink
r , <br /> • <br /> ' :1'. • <br /> 'CV' • <br /> •l're.,7• 17 • <br /> ORDINANCE NO. 505. <br /> • • . . ; . • AN ORDINANCE: declaring it to be advisable that the City of <br /> tibUrni'. for strictly mumicinal purposes, borrow the •sum of <br /> •115000X. and. issue its negotiable bonds therefor; and providing <br /> , tor submitting, at a special election, to the qualified <br /> electors of the Citu of Auburn, the question as to Wh eth e r such <br /> ; • moneys sh11 be borrowed ,and such bonds issued therefor. <br /> ,•,:t?4,:•;.,••,., • ; . <br /> • .; <br /> TEL •CITY COUNCIL OE TII.E CITY OP AUBURN DO Cb) Ii' S FOLi4OWS : <br /> • <br /> • • • <br /> - •.•!' e0t ion 1. ant the City Council of the City of Auburn <br /> • . <br /> dee mi it advisable that the City of i.uburn, for strictly muni- <br /> cipal ,purpOses, to-wit : for the purpose of raising moneys with • <br /> ,• . whieh to acquire by purchase, condemnation and purchase, or <br /> ,,i•4!;: ::,,,etherwisc,, for use as a public park, approximately fifteen ( 15) <br /> acres of land situate onthe easterly side of Auburn Avenue and <br /> • • <br /> in tie south 3- of the north of the northwest of -.-3e; et ion 18 , <br /> 1ñ Township 21 north of Range 5 east W. 11. , in the, City of Auburn, <br /> • . Iiii County- Washington, and with which to improve and beautify <br /> sUCh'. public. park, borrow the sum of 159(:)00,00, and issue its <br /> negotiable bonds therefore <br /> • <br /> Section 2. That the City Council of the City of Auburn <br /> -X;•;::,-.her,eby•autherize the creation of an indebtedness—& , and bor- <br /> rowing, for strictly municipal purposes, tic SUM of -745,000.00 . <br /> brthe issuarce of the negotiable bonds of said city therefor. <br /> •: Section 3. Th..-t the assessed valuation of all the taxable- <br /> property of the City of Auburn, to be ascertained by the assess- <br /> . W;.: ment rolls of \King County, Washington, for the year A. D. , 1923, <br /> said.aseessment for said year 1923 being the last assessifient for <br /> ! said Qity-of Auburn purposes previous to the date of the passage <br /> ofthis Ordinanc.e , is the MI12 of : 1, 565, 547.00 ; that there is now <br /> - - an•.existing bonded indebtedness , for strictly municipal- purposes. . <br /> of said....city of Auburn, of 7,41,000.00 . and no more; that there is <br /> • „ <br /> _nocther indebtedness , bonded or otherwise , of said City of Auburn, <br /> and 'that the total indebtedness of said City of Auburn, including <br /> ; the said -indebtedness of . 15,000.00 hereby authorized to be <br /> • <br /> created, will not exceed the sum of ,7:55,000.00, and will not <br /> 1 . exceed..:five ( 5) per cerituin of the taxable property of said city <br /> to be, ascertained by the last assesE,J:lent for the City of Auburn <br /> purposes previous to the date of passage of this Ordinance . <br /> •• <br /> 3ection 4. . That the moneys derived from the sale of said. <br /> bonds shall be applied and used only for the purpose of acquir- <br /> ing•by purchase, condemnation and F.:urchase , or otherwise , pilb 1 C <br /> . • park, and improving and beautifying such public park, as speci- <br /> :. 4 ' fled in Section 1 of this Ordinance , ani for rio other nurpose <br /> whatsoever. <br /> Section 5. That a special election is hereby called and <br /> shall be held. in the City of Auburn, Zing County, State of Washing- <br /> ' ton, on Tuesday, March 11, A. D. , . 1924, • and that at said special <br /> eiectidinthere shall be submitted to the oualified electors of <br /> ' said eity of Auburn, for ratification or rejection, the following; <br /> • "Shall the City for municipal <br /> • purposes, to-wit : acquiring, <br /> Bonds , yes - ( ) <br /> • 'improving and. beautifying a <br /> . public park, borrow .';,',15,000.00 Bonds, no - <br /> - • • and: issue its negotiable bonds <br /> therefor? <br /> ! • <br /> -54- <br /> ; <br />