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HomeMy WebLinkAbout00758ON An Ordinance providing for and authorizinp and directing I the issuance cr, local improvement bonds of local Improvement District 0 No.3 in the City of Port Townsend, Washington, a,01 authorizing the delivery of the same to the contractors. The City Council of the City of Port Townsend do ordain as follows : Section 1. That upon the taking affect cf this ordinance and on May 91 1911,,the mayor and city clerk of said city are hereby authorized and directed to executelto be issued and delivered to P. M. Coyne and James IT. Coyne, the contractors constructing the improvement in said Local Improvement District No. 3, in part payment of said work, Local impnt bonds in the aggregate su:a of Twely© Thousand One Hundred Ninety and twenty-nine hundredths Dollars (,1121.90.29), in denominations of one hundred dollars each; that is, one hundrad t•rronty--one bonds in the sum of one hundrad dollars each and one bond in the sum of $90.29. Sac.2. That the said bond.,; shall be numbered consecutively from one upwards', shall be dated May 9, 1911, made payable to P. M. Coyne and James H. Coyne or bearer on orbefoe ten years after date with interest at the rate of seven per cent per annum, intar- ost payable annually; that each bond shall have attached thereto ten Interest coupons, and each bond and each coupon shall be signed by the mayor and attested by the city clerk of said city and each bond shall have the seal of said city attached thereto; Providad, however, that said coupons may in lieu or being; so signed have printed thoreon a fac-simile of the signatures of said officers; and ranerall_: the said bonds and the said coupons shall be issued in conformity to the act of tho legislature by .vhich they are authorize+i and shall rofor to such act In an appropriate way and to the ordi- nanco authorizing the said improvement and contain such rocita;^ as to the fund out of which they are to be paid and 9thor rocitals as required by said act.