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Home My WebLink About00051 minutes of the meeting showing the adoption of the ordinance. (4)A. Q� ° o Pa ? .r0 „ C :p C' v O. w 4 tip r, r. Ur Lti, r0, T this 1'. George 0: Abrahe and S: 7 Muelle the Ms Counci M f iled. Ar and res that as by Coun Chief o voted i Th, Mr: Mr: Blc spy Hor. Cit Des horn Wes Blo, P.S. It n building the affir B. That it further reserves the right to issue refunding I4 revenue bonds and to create a special fund or funds for the payment of the principal thereof and interest thereon into which fund or funds payments may be made from the Water Revenue Fund sufficient to pay the principal thereof and interest thereon and to maintain any reserves which may be required therefor, which such payments may rank d herein to be made out of the Water equally with the payments require Revenue Fund into the Bond Redemption Fund and Reserve Account upon compliance with the following conditions: (1) Such refunding revenue bonds or the proceeds of their sale are used to exchange with or purchase and retire prior to their maturity an equal or greater principal amount of the Bonds or with other revenue bonds which may be hereafter issued on a parity the Bonds of any part of the bonds of any of said issues. (2) The issuance of such refunding revenue bonds and does not require a greater amount retirement of outstanding bonds nue Fund in any calendar year there- to be paid out of the Water Reve after for principal and interest over the life of the refunding revenue bonds to be issued than required 'to be paid out of such Fund for the principal and interest over the life of the bonds to be redeemed, or, if the maturities of such refunding revenue bonds are shorter in time than such outstanding bonds that the total interest cost to be paid over the life of the refunding revenue bonds plus any premium required to redeem the bonds to be refunded shall be less than the total interest cost over the life of the bonds to be refunded. C. Nothing herein contained shall prevent the city from issuing any revenue bonds or warrants which are a charge upon the money in the Water Revenue Fund junior or inferior to the payments required to be made into the Bond Redemption Fund and the Reserve Account. 12. CALL FOR BIDS WATER DEPARTbfENT CITY OF PORT TOVILSEND WASHINGTON Plans, Specifications, Proposal, Contrect and Bond Form, General Release The work herein outlined and described for fabrication, furnishing and delivering at the point of installation 6,BBO linear feat of 30-inch T.D. Welded Steel pipe, in lengths of 40 feet, coal tar coated and abbestos-vrrapped, replacing an eap.ivalent size and section of wood stave transmission Mann in the Olympic Gravity System Pipe line, located approxi- mately 1�- miles southwect fnom Crocker Lake in Jefferson County, from station 1046 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 28"-inch I.D. Welded Steel Pipe, in lengths of 40feet, coal tar coated and asbestos - wrapped, replacing an equal section of 24-inch Wood Stave Transmission Main in the Olympic 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 a3 shorn on the approved plans and attached specifications. Mayor City Attorney P�! if L HMO l� f_] z1 L , h ' t i ,I\ q :I i 'I i I,V=T S OF REGULAR SESSION OF MARCH 19, CONTINUED. Each bid to be enclosed in a sealed envelope bearing the super-scription"Proposal for "urnishing and delivering 26-inch and 30-inch Steel Pipe under Contract W.T.R. NO.of 1957." CPS,L FOR BIDS NOTICE is hereby given that the City of Port Townsend, Washington, will receive sealed proposals up to Bi00 P.M. on April 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 apon that date for furnishing and delivering at trench side , the following material at the point of installation: 68BO Linier feet of 30" I.D. x g" 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 3 miles southwest of the Olympic Highway Crossing near Crocker Lake in Jefferson County, along the Olympic Gravity Pipeline Right- of-way. 7600 Linier feet of 2B" I.D. x '" Elect is Welded Electric 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 atroximately 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 (m5.00) 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 5% 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 Drice, 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 21957 (S) 'TO-B ph G. Ryan J sepG. R.aa 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 ?RESTON, THORGRIMSON & 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 Mr. Ryan: After I read Ordinance No. 1330, I decided that the same should be clarified by amending Section 1 to clearly show that thvqrd " System" as used throughout th:e ordinance meant all the water supply eaddrisxiibution system of the city but that portion leased to Crown Zellerback. I als decided that the use of the words " Wate: Revenue Fund" throughout the ordinance was slightly confusing and that we should she clearly that such words referred to the fund of the City under its true name, to-wi' "Olympic Gravity Water Fund". Therefore, please find enclosed original and three copies of an ordinance amending Section 1 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 regula: 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 proceedu that appears to have been followed in the adoption of Ordinance No. 1330. Will you then please send us as soon as possible a comnleted and certified copy of t: 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 airtified excerpts of the minutes of the meeting of Marc: 5, 1957 showing the adoption of Ordinance No.1330, and a certificate from the treasu: 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. 67 i