HomeMy WebLinkAbout2498CITY OF KENT, WASHINGTON
ORDINANCE NO. 2498
AN ORDINANCE of the City of Kent, Washington,
amending Ordinance No. 2464 passed April 2, 1984.
The City Council of the City of Kent, Washington, does ordain as follows:
Section 1. Section 2 of Ordinance No. 2464 passed April 2,
1984, is amended to read as follows:
Section 2. The City shall borrow money on the credit of
the City and issue negotiable limited tax general obligation
bonds evidencing such indebtedness in the amount of $4,213,620
for general City purposes to provide the funds to pay the cost
of acquiring a site for and constructing a senior citizens
center, which property is more particularly described in the
Agreement of Sale as above described, to repay the Capital
Improvement Fund for money spent for such purpose and to pay the
costs of issuance and sale of the bonds. Such general indebted-
ness to be incurred shall be within the limit of up to 3/4 of l%
of the value of the taxable property within the City permitted
for general municipal purposes without a vote of the qualified
voters therein. Such bonds shall be issued at such time or
times, shall be dated, bear such interest, have such terms and
conditions, mature, have such call features, be issued in such
series and be sold as a single offering or as part of a combined
offering of limited tax general obligation bonds of the City in
such manner as shall be provided hereafter by ordinance. Such
bonds shall be payable from the regular property tax levy of the
City levied without a vote of the electors of the City and from
other money legally available for such purpose.
PASSED by the City Council at a regular open public meeting
thereof, this 5th day of November, 1984.
ATTEST:
City C1 ?
APPROVED AS TO FORM:
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Approved:
Published: �t. �.,� ,� ?I/
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Mayor