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RESOLUTION NO. ~ 70 --'--"'-----
WHEREAS, the City Council of Kent, Washington, has
heretofore expressed its intention to issue inside levy general
obligation bonds for certain public improvements, and
WHEREAS, such expressed intention has never been formal-
ized by ordinance or resolution, now, therefore,
BE IT RESOLVED by the Council of the City of Kent:
That it is the intention of the City of Kent to issue
general obligation bonds for the following projects and in the
following amounts:
1. City's share of James Street and
Fourth Avenue improvements $600,000.00
2. Completion of City Hall 400,000.00
and further,
That the Mayor of the City of Kent request permission
through the proper authority to apply against principal and
interest on street improvement bonds the one-half cent gas tax
payable into the City's motor vehicle-arterial fund, and further,
That the City employ a financial consultant to prepare
a prospectus for the advertisement and sale of said bonds, and
further,
That said consultant shall also prepare a water revenue
bond issue as authorized by Ordinance No. 1408, and further,
That the financial consultant be directed to prepare
and submit both issues at the earliest possible time· consistent
with sound fiscal planning.
Attest:
ALD E. MIRK, City Attorney
Passed this /~ay of June, 1970