HomeMy WebLinkAbout010691 f 1 , � •1 i
y./on 73d1ro�c�1t�:),,L �, e1l.tve (12) and IlT/htlGirlt,:--n '(13y�) '�3�' ' otltuit• in Vie"' :�(Id/JiI(t/fi)n�yd
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= the City of Port Townsend.
Said city shall also increase the capacity of the smaller of said
existing reservoirs to a minimum capacity of two million (2,000,000)gallons.
From said reservoirs the waters therein shall be distributed to consumers
by means of the existing distributing system of said city.
That as a part of such system or plan said city shall acquire and
construct such pumping plants, filtration plants and other appurtenant
structures and equipment as will enable it to serve the demands of its cust-
omers, and shall acquire by condemnation or purchase (including permits and
grants,Irom the united States) such lands, waters, water rights, privilegesi
easements, rights -of -way, franchises, property and property rights as may
be necessary or incident to the making of the aforesaid additions,
extensions and betterments.
The plan or system hereinbefore described shall be known as the
"Big Quilcene River Water Extension Project."
Section 3. The gross estimated cost of the system or plan herein
described is hereby declared,as near as may be,to be the sum of Eight Hun-
dred Thousand ($800,000) Dollars,of which amount the said plan contemplates
that approximately Two Hundred Thousand ($200,000) Dollars shall be raised
by the receipt of advance rent on a part of said municipal water system,
leaving the net estimated cost of the system or plan herein described,as
near as may be, the sum of Six Hundred Thousand ($600,000) Dollars, to be
raised by bonds of said city as hereinafter provided.
Section 4. That in order to secure funds to carry out
said plan or system, said city shall issue and.sell its negotiable
bonds in an amount.not exceeding Six Hundred Thousand (.$600,000.00)
Dollars, which shall be issued at such times, in such denominations
and shall bear such rate of interest, not exceeding six (6) per cent per
annum, payable semi-annually, as the City Council, may, by resolution,
direct.x Said bonds shall mature as follows:
Eleven Thousand Dollars ($11,000)
Three
3
Years after
date
Twelve Thousand Dollars ((412,000))
Four
4
Years
after
dffte
Twelve Thousand. Dollars ($12,000)
Five
5
Years
alter
dote
Thirteen Thousand Dollars ($13,000)
Six
6
Years
pi'ter
d6te
Fourteen Thousand Dollars $14,000
Seven
7
Years
niter
date