HomeMy WebLinkAbout2499CITY OF KENT, WASHINGTON
ORDINANCE NO. 2499
AN ORDINANCE of the City of Kent, Washington,
amending Ordinance No. 2465 passed April 2, 1984.
The City Council of the City of Kent, Washington, does ordain as follows:
Section 1. Section 2 of Ordinance No. 2465 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 $1,997,380
for general City purposes to provide the funds to pay the cost
of acquiring a site for and constructing a new jail jointly with
King County, Washington, which property is more particularly
described in the Earnest Money and Escrow Agreement 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 indebtedness to be incurred shall be
within the limit of up to 3/4 of 1% of the value of the taxable
property within the City permitted for general municipal pur-
poses 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 CleIV
APPROVED AS TO FORM:
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Approved :
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Mayor