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HomeMy WebLinkAbout00936Ordinance No. f�(o An Ordinance authorizing and directing the proper officcr•s of the City of Port Townsend, Washington, to issue and deliver to, R', W. Scott or his assjpns, local improvement bonds of Local Improve ment District 1, 9, in the sum of ,40Q.72, in Pull satisfaction of the contract price for t.ne construct.ion%of said Local Improvement and providing; the form and terms of said bondn. Whereas the City of Port 3ownsortd,N'gashington, duly created by ordinance No. Y6.1 , Loral Improvement District No. 9, and has constructed the said 3tsprovement by contract with R. W. Scott, and Whereas the contract price for the construction of the said improvement was and is the sum t,f $729.52, including, extras, of which the sum of d229.80 has already been paid the said contractor in cash out of the amount collected on thn assessment mado on the property included within the said improvement district, leaving a balance due the said contractor of the sum of $499.72, now,therefore: The City Council of the City of Port Townsend, Washington, do ordain as follows: Section 1. That the Mayor and City Clork of said City are hnrety authorized and directed to execute local improvement bonds of Local ' Improvement Distriet No. 9, in the sum of $499.721 that is to say, four bonds of one hundred dollars each and one bond of ninety. -nine dollars and seventy-two rontn- _.:: - - sec. 2. That the said bonds are *o be dated July,1 , 1916), made payable 'to R. W. 36ttt or bearer twelve years afte ,,or on any interest pa;rin,., date prior to said time; that they are to bear intsrti -� est at the rate of seven per cent per annum, interest payable annu-. ` aip3i ass each bond there is to be attached twelve interest coupons, the konds to he signed by the Mayor and attested by the (: City Clerk wit the seal of said City attached, and each coupon so attached is to b ar the lithographed fac-simile of the signatures of the said mayor d city clerk; that all of the said bonds are to show on their face hat they are payable only out of Local Improve- ment Fund District TTo. 9, and are further to show on their face », all tbdngs necessary to tie shown according to the law applicable veto, and are otherwise ", be in the form as near as may be her©tofore used in local improvement bonds of said"city. Sec. 3. That the send bonds afte�'r- Qiq tion as aforesaid are to be delivered to the treasurer of said cigy for registration, and after being, duly registered by him, shall be delivered to the said R. W. Scott or his assigns in full satisfaction of the contract �- price for the construction of said local improvement. Sec. 4.'That this.ordinanen shall be published once in the Daily Leader and shall take effect and 'oe in force from and after five days after such publication. Passed by the City Council August 1, 1916 Approved CZ9ue H I?e* Mayor, Attest: C ty Clerk. 7dCllG / ltl�e2 �i6 (�G'LCCJ, /alG