HomeMy WebLinkAbout00765Ai- ORDINANCE AUT):OkI7.IT:G TIQ:ISSUE OF T)fl RM'IPMING
BObmS OY VIE CITY OF PORT TOVI':T9EfM, !7A^IfIUG`1'031, TO 'JIM'
AMOU JT OF STtrRTTTY-FIV]r; 'TPOUSA.':D DOLLAI-I ({' 7 j , 000) .
';.T l,;i.]:'A^, t}ic Cit? of Port Townsend hoc outstanding
its legally i^cued bonds to !;hc, „mount of Seventy-five Thous-
and -Dollars (."75,000), dated July 1, 1891, and becoming due
July 11
0o19111�, and ).ac no funds for the pa�, nt thereof; there-
f or e
Section. 1. Thbt for t-e purpose of .refunding the
said bonds cf the City of Port 'Tw-incend falling due July 11
1911) there a-•e ),erehlr nvthoried to be issued seventy-five
(75) bonds of One Thousand Tollars (:•1000) each, numbered from
one (1) to .eventy-five (75), both inclu:;ive, v,hich said bonds
shall hear interest at t);e rato of five and one-half (5 1/2)
'per centum ;per annum,payabin semi-annually. Said bonds shall
be dated the first da;r of Jul-,,- 1911, and »hall become due
twenty (20) -ea s after date and shall be redeemable at any
time after ten (10) years. Said bonds shall bear the, seal
of the City of Port Twansend, be signed by the Mayor and
attested by the City Clerk and dountersirned by the City
.Treasurer, and the ccuponz- evidencing the interest upon said
bonds shell lie executed vii;h the enfraved or lithoCraphed
far-eimile signatures of said ?[a,yar and Clerk. 130th principal
and interest cf said bond, shall be made .payable at the Fiscal
A-enc, of the State of F:ashington in tLe Cite; of New York,
State of ;Tent York.