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Home My WebLink About00046 Minutes of the Regular session or December 16th. 19301 continued.84 Minutes of the Regular session or December 16th. 19301 continued. OPENING BIDS FOR BONDS The City Clerk now stated that this was the date set for the opening of bide for the purchase of $49,000.00 of General Indebtedness Water System Coupon Bonds.and referred to the'minutes and published ad- vertisement setting this as the date for such opening of bids. Bids submitted and read were, as follows; From the State of Washington, to -wits STATE OF YiASHINGTON - office of STATE FINANCE COMMITTEE Olympia At a meeting of the State Finance Committee, held on the 9th day of December, 1930, it was ordered that a bid for general indebtedness bonds of City of Port Townsend, Jefferson County, Washington, be offered on behalf of the State of Wishington, conditioned as follows The State of Washington bids par for aerial bonds of City of Port Townsend, Jefferson County, Washington in the total amount of 449,000.00, said bonds to be issued in denominations as agreed and that; only bond , number one shall be of a denomination other than a multiple of one hundred dollars, tobbsoome due and payble in their numerical order, the lowest numbers first, on the annual interest paying dates, commencing with the second year after the date of issue of said bonds, in such amounts (as nearly as practicable) as will, to- gether with the interest on the outstanding bonds, be met by an equal annual tax levy for the payment of said bonds and interest. Said bonds to bear interest at the rate of 4-3/4 per cent per annum, payable annually, gsrinoipal and interest to be payable at the office of the State Treasurer at Olympia, Washington. The bonds are to run over a period of 26 years. In the event of the acceptance of this bid, said city shall furnish a transcript showing the full pro- ceedings leading up to said bond issue and also a statement showing the financial condition of said city, which prooeedingc shall have the approval of the Attorney General for the State of Washington as to their legality. . This bid is subject to the requirements of the statutes relative to the power of cities to create an indebtedness, as Chown by the assessment for State and County purposes last preceding the issuance of such bonds. Respectfully submitted, STATE FINANCE COMMITTEE, By . C. S. BONSALL eore cry. ,,�,9 4• 6 City Engineer to Prepare Plane and Speoifications: lv' It was moved by Councilman Robbins and seconded by Councilman Lafferty that the City Engineer be instructed to immediately proceed to prepare plans and specifications for construction of loop No. 1 of the ( oity water syotom. Upon roll call all six Councilman present voted in the affirmative and motion was de- clared carried. ?j•,?,` School District Communications a Taking up the matter of the communication from School District No. 43, Mayor Bangerter stated that he would again refor it to the Street Committee, the City Attorney and the City Engineer. Lake Crockett Resolutions a ti Mayor Bangerter procented a resolution adopted by the Port Townsend Chamber of Commeroo,spdnsoring and endeavor to secure the construction of a harbor near Fort Casey on Whidby Island.and suggested to the ';Ap Council that the city lend its support to the movement. It was then moved by Councilman Robbins and seconded by Councilman Smith ,✓p., that the said resolution be approved and adopted by the City Council. Motion declared w ' carried. E.. ADJOURNMENT y. xr f; d4 � Upon motion of Councilmen Peach, seconded by Councilman Lafferty, Council adjourned.- s 4 lY ' ATTEST: e MAYOR CITY CLERK From The Seattlo Company, to-wit:s2't'F"�'�iiT'°° q�''?E "�'•, r Seattle, Washington, December 160 1930 To the Honorable Mayor and City Council, Port Townsend, Washington. Gontlemont For $49,000 par value NEGOTIABLE GENERAL INDEBTEDNESS COUPON BONDS of the CITY OF PORT TOWNSEND, WASHINGTON, sealed bids for which are being received. by you to 8 P.M., December 16, 1930; maturing serially from two to'.twenty-five years after date of issuance, in such amounts as will, together with interest on all outstanding bonds of this issue, be met by an equal annual tax levy for. the payment of said bonds and inter- eat; and bearing interest from date of issuance, payabol semi=annually, interest and maturity payments to be made at the fiscal agency of the State of Waahington, in Now York City; said bonds to be in denominations of m'_B $600 and $1,000, either or both, as determinod by you; delivery to be made within thirty days of sward; FOR BONDS BEARING INTEREST AT THE RATE OF 64 PERCENT.PER ANNUM WE WILL PAY $100.519 FOR EACH $100 PAR -VALUE THEREOF, AND IN ADDITION ACCRUED INTEREST TO DATE OF DELIVERY TO US. The above bid is made with the understandingthat you will furnish ue, without coat, prior to our ' takingu and paying for the bonds a full and complete trameori t of all proceedings had in the issuance of t P P Yi g , mP P P g these bonds, evidencing to the satisfaction of our attorneys thes•regularity and legality of this issue. Enclo aed herewith you will find, as evidence of goon faith and in accord with your published call for bide our certified check for $2 60U.00 the came to apply. upon the purchase rice of these bonds in • • • PP e P P P r• r � I, event they are awarded to us under the terms of this bid; otherwise to be returned to us upon demand. Respectfully submitted, ooe tods �- THE SEATTLE COMPANY _ By C. E. KINCAID The bid of The Seattle Company was accompanied b a certified check for 2600.OU drawn on the First +�`�'�*��`• �P Y mP Y $ Seattle Dexter Horton National Bank. aa•�x ;�,�,t�'„';�,"•,�•sV� a s Both of said bide were referred to the City Council as a whole. a x } t��''•AyiY' 1g(�Sr"(1 taw RECESS It was moved by Councilman Peach and aeconded by Councilman Lammers that the Council recess for ¢ hort period. Motion carried and r000ss was declared. i OOUHCIL RECONVENES The City Council reconvened at 9t46 P. M. and upon roll call there were present Mayor George Banger- + '. au i `i,i¢"i+•� er, City Attorney Jae. W. B. Scott, City Clerk C. F. Christina and Councilmen Jacob Miller, Harry W. Robbins, I . V. Peaofi;'W. B. Smith, W. S. Lafferty and Wm. Lam ore. k P FFI i! Award of Hid for Benda: The bids submitted for the purchase of the $49,000.00 of bonds Was nee taken up and it was moved by h• it _";Lt ,ysJ;, }�,�;.' Councilman Robbins and seconded by Councilman Smith that the bid of the State of Washington for said bonds be •wr F z N�t�� accepted as the best bid; and that the certified chock of The Seattle Company, submitted with their bid, be+ } '-.t r+t��=•gll. returned to them at once. Upon roll call all six Councilmen present voted in the affirmative and motion was'�°t declared carried. -• „�' ,,,:�,dt, _ r If Y . . L•:. •i