HomeMy WebLinkAbout14241
2
3
4
5
6
7
ORDINANCE NO.
AN ORDINANCE of the City of Kent,
Washington, declaring an emergency,making
appropriations and providing for the
issuance of warrants for the redemption
of $33,000.00 face value of City of
Kent, Washington "Water Land Purchase
Fund" utility warrants, plus interest of
4 1/4 percent due thereon from July 1,
1965 to February 16, 1967 in the amount
of $29286.26.
$ The CITY COUNCIL OF THE CITY OF KENT, WASHINGTON
9 DO ORDAIN AS FOLLOWS:
10 I' Section 1. That in order to redeem $33,000.00 face
11 !value City of Kent, Washington "Water Land Purchase Fund"
I'
12 futility warrants, plus interest due thereon at the rate of 4 1/4
13
14
15
16
17
;percent from July 1, 1965 to February 161, 1967, said interest
lamounting to $2,286.26, it is necessary to appropriate funds
ptherefor at this time which have not been budgeted for in the
6
;budget of the City of Kent for the fiscal year 1967.
Section 2. That an emergency exists due to the
18 14situation set forth in Section 1 of this Ordinance which could
19 !..not have reasonably been forseen at the time of the preparation
20 ,of the budget for the year 1967 and, therefore, there is at this
21 ;!:time, as necessary to sustain the proper operation and eff¢ciency
22
23
24
25
26
27
23
29
30
31
32
of the water -utility department of the City of Kent for the
balance of the fiscal year 1967, emergency appropriations herewith
made of $33y.000.00 to redeem $33,000.00 face value of City of
!Kent, Washington "Water Land Purchase Fund" utility warrants and
Ito nay thereon the sum of $2,286.26 which constitutes interest on
said principal amount of 4 1/4 percent per annum from July 1,
11965 to February 16, 1967 to meet said emergency and that, if
;necessary, emergency warrants shall be issued for said amounts
or for such portion thereof as shall be needed, such emergency
-1-
1 'F!warrants to bear interest at the rate of 6 percent per annum from
2 the date of issuance until paid.
3 Section 3. This Ordinance shall not be voted on until
4 I,at least one (1) week has elapsed after its introduction and
5 for passage shall require the vote of one more than the majority
6 of all members of the Kent City Council and be approved by the
7 Mayor.
8 Section 4. Any taxpayer may appear at the meeting at
9 dwhich this emergency Ordinance is voted upon and be heard for or
I
10 !against the adoption thereof.
11 !' Section 5. This Ordinance stall be voted upon at the
12
13
14
15
16
17
18
regular meeting of the Kent City Council in the Council chambers
of the Kent City Hall at 8 o'clock p.m., Monday, February 6, 1967
and a copy of this Ordinance shall be published in the official
City newspaper once prior to said date as notice of said meeting
and proposed action.
Section 6. This Ordinance shall be in force after the
public hearing thereon and after the passage and approval thereof
19i; as set forth in the preceding sections of this Ordinance and five
20 ':'days after its final passage, approval and publication as pro -
21 {vided by law.
22
3 ALEX T d,Mayor
2
Attest:
t
24J
25
1-cy
26 , App oved as to, form:
27
J. B. SERE ER, City Attorney
i�
28
11 .ntroduced the 16th day of January, 197.
+'First publication: the ,9 day of , 1967.
29 ;!Approved theday ot February, 19
Final nublicatl'on the � day of , 1967.
30 -
31
32 -2-