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Home My WebLink About00048 MINUTES OF REGULAR SESSION OF MARCH 19, CONTINUED. (5)> ♦ '7 ' I' r, C O I: C J0 O ^ r' VJ 1- ,_. L� f, t tL• y M this 1! George 0: Abraha and S.' Muell the M: Coune: f iled, 1 and re that E by Cov Chief voted T M M B g H C D ho W( B: P. I• buildii the af: revenue bonds which may later be issued on a parity therewith are outstanding that will mace available for the payment of the principal of and interest on all of such bonds as the same shall become due an amount equal to at least 1.4 times the amount required each calendar year hereafter for the payment of such principal and interest. The amount "available for the payment of the principal of and interest on all of such bonds as the same shall become due" is hereby defined as "the gross revenue of the System less necessary costs of maintenance and operation thereof but before depreciation." (b) That it will at all times keep and maintain the System in good repair, working order and condition, and will at all times operate the same and the business in connection therewith in an efficient manner and at a reasonable cost. (a)That it will not sell or dispose of the property of the System (unless such property or any part thereof is no longer used, useful or necessary in the operation thereof) unless provision 1s made for payment into the Bond Redemption Fund of a sum sufficient topay the principal of and interest on the Bonds outstanding in accordance with the terms thereof. Section 15. A.: The city hereby further agrees with the owner and holder of each of the Bonds that it will not create any special fund or funds for the payment of the principal of and interest on any other revenue bonds which will rank on a parity with the payments out of the Hater Revenue Fund into the Bond Redemption Fund and 'Reserve Account created herein, except that the city reserves the right, for First, thepurposeof acquiring, constructing and installing additions and improvements to and extensions of, acquiring necessary equipment for, or making necessary replacements or repairs and capital improvements to the System, or Second, the purpose of refunding or purchasing and retiring at or prior to their maturity any outstanding revenue bonds or coupon 9.. CALL FOR BIDS WATER DEPARTMENT CITY OF PORT TOWNSEND WASHIIIGTON Plans, Specifications, Proposal, Contract and Bond Form, General Release The work herein outlined and described for fabrication, furnishing and delivering at the point of installation 6,860 linear foot of 30-inch !.D. Welded Steel pipe, in lengths of 40 feet, coal tar coated and abbostos-wrapped, replacing an egvivalent size and section of wood stave transmission Main in the Olympic Gravity System Pipe line, located approxi- mately 1�- miles southwoct from Crocker Lake In Jefferson Councy, from station 1048 plus 47 to station 1092 plus 00, and from Station 12271 plus 47 to Station 1252 plus 47. A supplementary replacement consisting of fabrication and delivery of 7800 linier feet of 2811-inch I.D. Welded Steel Pipe, in lengths of t, coal alrtar coed andMaiasbestos- wrapped, replacing an equal section of 24_ Wood at Olympic in the Gravity System Pipe Line, located approximately 1 mile northeast from the Olympic Highway crossing near Crocker Lake from station 1205 plus 47 and from Station 1252 plus 47 to Station 130E plus 00, all as shown on the approved plans and attached specifications. Mayor _ City Attorney it 1[ lk L F r s% �7 • L I i MINUTES OF REGULAR SESSION OF MARCH 19, CONTINUED. Each bid to be enclosed in a sealed envelope bearing the super-scription"Proposal for furnishing and delivering 26-inch and 30-inch Steel Pipe under Contract W.T.R. No.of 1957." CO.LL FOR BIDS NOTICE is hereby given that the City of Port Townsend, Washington, will receive sealed proposals up to B300 P.M. on A r+l 16, 1957, at the office of the City Clerk, Port Townsend, Washington, to be opened a regular session of the City Council, to be held upon that date for furnishing and delivering at trench side , the following material at the point of installation: 6880 Linier feet of 30" I.D. x ;" Electric Welded Steel •Pipe, coal tar coated and asbestos wrapped, together with the necessary couplings and welded steel plate reducing connection in the vicinity of and approximately 1 § miles southwest of the Olympic Highway Crossing near Crocker Lake in Jefferson County, along the Olympic Gravity Pipeline Right- of-way. 7800 Linier feet of 28" I.D. x +"-Elect is Welded Eleebrie Steel Pipe coal tar coated and asbestos -wrapped, together with -the nee ssary couplings and welded steel plate re- ducing connections in the vicinity of and a proximately 1 mile northeast from the Olympic highway crossing near Crocker Lake, along the Olympic Gravity Pipe Line Right -of -Way. All pipes to be fabricated in lengths of 40 feet, shall be furnished with a flexible coupling for each length, and shall conform with the adopted specifications. Each bid shall be in accordance with the plans and specifications and other contract documents now on file in the office of the City Clerk at Port Townsend, Washington, where copies may be obtained by depositing the sum of five dollars (Oe5.00) for each set. Deposit will be refunded upon the return of the plans and specifications in good condition. Each bid shall be accompanied by a certified check, cashier's check or bid bond made payable to the order of the City Treasurer of Port Townsend, in the sum of 50 of the amount bid, to be forfeited to the City of Port Townsend by the successful bidder in case he fails to enter into contract, file an acceptable surety Bond in the sum of 100% of the Contract price, to fill conditions of said Contract within ten (10) days of the date of award. The City reserves the right to reject any or all bids and to waive all informalities in the bidding. Dated this 19th day of March $1957 ( S ) ,Tasoeph G: Ryan J sapG. i,art City Clerk It was moved by Councilman Siebenbaum and seconded by Councilman Steve that the City Clerk be authorized to publish the above call for bids. Upon roll call vote all seven Councilmen present voted in the affirmative and motion carried, COMMUNICATION :AND ORDINANCE FREESTON, THORGRI14SON & HOROWITZ ATTORNEYS AT LAW NORTHERN LIFE TOWER SEATTLE 1, March 18, 1957 Mr. Joseph G. Ryan City Clerk Port Townsend, Washington Re,: Port Townsend Water Revenue Bonds, April 1, 1957-$100.000 Dear htr. Ryan: After I read Ordinance No. 1330, I.decided that the same :should be .clarified by amending Section l to .clearly show that the w99rrd 11Systam 11 as used throughout th-e ordinance.meant all the water supply anddriibution system of the city but that lseyti portion leased to Crown Zellerback. I adecided that the use of the words " Water Revenue Fund" throughout the ordinance was slightly confusing and that we should show clearly that such words referred to the fund of the City under its true name, to -wit: "Olympic Gravity Water Fund". Therefore, please find enclosed original and three copies of an ordinance amending Section l of Ordinance No. 1330 to clarify these two matters. Will you please have the same introduced at the regular meeting of the 19th and then passed at the regular meeting of April 2nd. If in your opinion this ordinance can be passed at the same meeting of its introduction, we will accept this proceedure, as that is the proceedure that appears to have been followed in the adoption of Ordinance No. 1330. Will you then please send us as soon as possible a completed and certified copy of thi ordinance, along with an affidavit of its publication and certified excerpts of the minutes of the meeting showing the adoption of the ordinance. Will you also pleas send us pertified excerpts of the minutes of the meeting of March 5, 1957 showing the adoption of ordinance No.1330, and a,certificate from the treasure setting forth the principal amount and date of issue of all water revenue bonds of the city outstanding. We have sent the bond form to the printer, and imagine that you will have the bonds in about two weeks for sealing and execution. Will ,you please phone me or drop me a line immediately giving me a number that the enclosed ordinance .will bear. .-............_.. _. _.._.. ...... i ■