HomeMy WebLinkAbout00921An Crdinar.eo authorizen;*, and directing the prop,?r officers
of the City of Port To:vnsond, Washington, to i::sue and deliver to
Nettleton-Bruno-I';srhbarh Company, a Washin,Tton Corporation, local
improvement bonds of Loral Tmprovoment District No. 8, in the sum of
$9825.12, in full satisfaction of tho noz,'tract price for the con-
struction oY said local•improvomeni, and providing- the form and
termsaof said bonds.
Wharoas the City of Port Townsend, Washington, duly created by
ordinance Nc• Sls6 ,Lor,..l T:nprr,v,imnnt District Yo. 8, and has con
strutted the said Improvement, by contract with Not tleto3;ruro-
F.schbach Company,a'lla:}.in!>ton Corporation, and
Whereas the contract price for tine tionstruation of tho.said
improvement .,as and is the sum of15264.40, of which the sum of
5439.289 has already been paid to the said contractor in cash out .
of the amount collected on the assessment made on the property in-
z,' eluded within the said improvement district, leavin;; a balance
due the said contractor of the sum of $9825.12, now, therefore;,
The City Counnil of the 01ty of Port Townsend, Washington, do
ordain as follows:
Section 1. That the Ijayor and City Clark of said City are hereby
authorized .and directed to execute local improvement bonds of Local..:,
Ifitprowement District No. 8, in the svm of $9825.12, that is to say,
ninety-oil-ht bonds in the sum of one hundred dollars each, and
c;. one 'bond in. .the s/um of $$25.12.
9oc.2. That the said bonclr, are to be dated March 1, 19*1 made
payable to Nettleton-Arnce-Fsrhhach Company, a Was'nintton Corporation .
or bearer twelve years after date or on any into rest.hoarint; date
prior to said time; that thou are to bear interest at the rate of,
seven per cent; per annum, interest payable annually, and to each
bond the -.a is to be attached twelve intorHst coupons, the bonds to
he si+>ned by the Mayor and attested by the City Clark with the
seal of said City attached, and each riu�o so attached is to bear
r.
the lithographed far, -simile of the��sa�'�� ma�or and city clerk; that .
all of the said bonds are to show on their face that they are.pay-
able only out of Local Improvement Fund, District No. 8, and are.
further to ow on4rieir face all things necessary to ba, shown accord -
in to the law applirgble thereto, and are otho rwise to be in the
form hw.tofore used in local improvement bonds; f said..City.
Soc. 3. That the said bonds after execution as aforesaid are
to be delivered to tho. treasurer of said city for rol?istration, .
and. after being; duly rogintered by him, shallbe delivered to said
Nettleton-Bruce-Fschhach Company, in full satisfaction of the
contract price for the construction of said local imp rove lnent.
Sec. That this ordinance shall be published once in the
Daily Leader and shall take effect and he in force from and after
five days after such publication.
Passed by the City CCoimcil Mauch 7, 1916.
Approved
Attest: ATayor fir
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