HomeMy WebLinkAbout01425ORDINANCE NO. �=
AN ORDINANCE^ providing for
reduction of
amount of Per
dated July 1,
City Clerk to
of said bonds
and reduction
the extension of time of payment and
interest rate on $41,000, principal
t Townsend General Refunding Bonds,
1911, authorizing the Mayor and the
enter into a contract with the owner
for such extension of time of payment
of interest rate.
WHEREAS, there matured on July 1, 1931, and there is now duo and
owing, general refunding bonds of the City of Port Townsend dated July 1, 1911,
in the principal sum of N1,000; and,
WHEREAS, the owner of said bonds is willing to agree to an extension
of time of maturity and a reduction of the interest rate on said bonds, and it
is to the best interest of said city to enter into such an agreement; now,
therefore,
THE CITY COUNCIL OF THE CITY OF PORT TOWNSEIFD DO ORDAIN AS FOLLOWS:
Section 1: The date of imturity of the Port Townsend general re-
funding bonds dated July 1, 1911, in the total principal sum of $41,000, shall
be and the same are hereby extended as follows:
Bonds numbered
27,
28,
29,
in
the
principal
sum
of
$3,000,
January
1,
1938
30,
31,
32,
of
to
if
it
"
3,000,
January
1,
1939
339
349
35,
of
of
of
it
of
39000,
it
1,
1940
36,
379
38,
44,
to
it
"
At
it
49000,
it
1,
1941
45,
469
47,
48,
It
it
it
to
"
49000,
if
1,
1942
499
50,
51,
52
"
"
It
It
of
49000,
to
1,
1943
53,
54,
55,
56, 57
to
It
it
of
It
5,000,.
It
1,
19"
58,
590
60,
61, 62
to
it
it
it
it
5,000,
it
1,
1945
63,
64,
65,
66, 67
to
it
It
It
to
5,000,
to
1,
1946
689
69,
70,
71, 72
It
to
It
it
if
59000,
it
1,
1947
Section 2t Said bonds shall bear interest at the rate of A--I,,dp per
annum from January 1, 1937, until paid, payable semi-annually. Interest coupons
shall be attached to Bald bonds and shall be in substantially the following form,
except as to date of paymentst
Interest Coupon No. $22.50
On the first day of , 19 _, the City of
Port Townsend, Washington, will pay to bearer at the fiscal
agency of the State of Washington in the City and State of New
York or at the office of the Treasurer of said City of Port
Tovmsend, at holder's option, the sum of 'Twenty-two and 50/100
Dollars in lawful money of the United States, being the semi-