HomeMy WebLinkAbout240RESOLUTION NO. (. 1 0
WHEREAS by authorization of the City Council of the City of
Kent, t7so.oo of the Bond Interest and Rede~ption Fund were in-
vested in Bonds lo. 41 to 70 inclusive, having a face value of
t3,000.00, of the Local Improvement District lo. 199, of Kent,
and
WHEREAS by authorization of the City Council of the City of
tent, t550.00 of the Peraament Replacement Water lund were in-
vest~d.in Bonds lo. 23 to 33 inclusive, having a face value of
$1100.00, of the Local Improvement District lo. 217 of Kent, and
WHEREAS at the present time there is on hand in the Local
Improvement General lund the sum of tll69.27 available for the
purpose of retiring Local Improvement District Bonds, and
WHEREAS there are no obligations of the Local Improvement
General fund other than the bonds above described and no chance
for further obligations since the bonds described are the only
outstanding bonds of any Local Improvement District of the Oity
of Kent, and
WHEREAS there may be some small amounts received from the
Oounty Treasurer available to the Local Improvement General funds
and
WHEREAS it is for the best interests of the Bond Interest
and Redemption lund and of the Peraanent Replacement Water lund
and for the general interest of the City of Kent that these Local
Improvement District Bonds be retired as soon as may be, and
WHEREAS Resolution lo. 239 passed by the City Council the
21st day of September, 1942, was in error and did not reflect
1 the true condition of affairs,
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NOt~ THEREFORE, BE I! RESOLVED by the Oity Oouncil of the
~~~ City of Kent, in regular meeting assembled, that said
I lo. 239 be and it is hereby cancelled and shall be of
Resolution :
no effect an~
BE IT fURTHER RESOLVED that the Oity Treasurer be and he is
hereby authorized and directed to transfer from the Local Improve-:
ment General lund to the Bond Interest and Redemption Fund the
sum of $760.00 for the purpose of retiring Bonds lo. 41 to 70 in-
clusive, of Local Improvement District lo. 199, and he is further 1
authorized and directed to mark paid and cancelled the said bonds
of the said Local Improvement District No. 199, and
BE IT FURTHER RESOLVED that the Oity Treasurer be and he is I
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I hereby authorized and directed to transfer from the Local Improve-!
ment General Fund to the Permanent Replacement Water fund the sam [
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11 of t4oo.oo for the purpose of retiring bonds No. 23 to 30 inclusiv~
li of Local Improvement District lo. 217, and he is further authorize~
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li and directed to mark paid and cancelled the said Bonds No. 23 to
1: 30 inclusive of the Local Improvement District No. 217, and
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BE IT FURTHER RESOLVED that if additional funds come into
Local Improvement General Fund from the Oounty Treasurer, the Oity,
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Treasurer is hereby authorized and directed to transfer from said 1
Local Improvement General fund to the Permanent Replacement Water
Fund such monies as may be necessary to pay to retire Bonds lo.31
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I to 33 inclusive of the Local Improvement District lo. 217 at the
1 rate of tso.oo per bond, and upon full payment at that rate said
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!I bonds shall be marked paid and cancelled.
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1 PASSED by the Oi ty Council this 5th day of October, 1942.
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Lyor il
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~~ Attest t:C~-I ity Clerkj
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