HomeMy WebLinkAbout012290RDINANCE NO.,; or
AN ORDINANCE of the City of Port Townse nl fixing the denominations
and interest rate of the bonds provided for in
Ordinance No. 997 of said city; determining the
various annual maturities and interest payments
and specifying the form thereof.
WHEREAS, under Ordinance No. 997 of the City of Port Townsend,
Washington, passed by the City Council on the 2nd day of September,
1930, and approved by the Mayor on the 4th day of September, 19300
there was submitted to the qualified voters of the City of Port,,
Townsend the question or proposition of authorizing the City of Port
Townsend to become indebted in the sum of $49,000.00, for the purpose
of making certain public improvements as provided in said ordinance,
and providing for the issuance and sale of negotiable interest -bearing
general indebtedness coupon bonds of said City, and
WHEREAS, said proposition to become indebted was duly authorized
and ratified by the qualified voters of said city at an election held
for that purpose, and
WHEREAS, a bid for said bonds has been received and accepted by the
City Council of the City of Port Townsend, therefore,
THE CITY COUNCIL OF THE CITY OF PORT TOWNSEND DO ORDAIN AS FOLLOWS:
Section 1. The denominations of the "Port Townsend General
Indebtedness 1931 Water Bonds" provided for in Ordinance No. 997 of
said city shall be in the sum of Five Hundred Dollars ($5OOeO0) each;
shall be numbered serially from one to ninety-eight consecutively; and
shall bear interest from date at the rate of four and three-quarters
(4-1) per cent per annum, interest payable annually. All of said bonds
shall be dated as of January let, 1931, and shall mature as follows:
Two bonds - two years after date; two bonds - three years after date;
two bonds - four years after date; three bonds - five years after date;
three bonds - six years after date; three bonds - seven years after date;
three bonds - eight years after date; three bonds - nine years after