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1 ORDINANCE NO. $V/ !::�4
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3 AN ORDINANCE of the City of Kent,
Washington, providing for (1.) constructing
4 '; and acquiring an addition to the Kent
Municipal Library Building, including park-
s ing, and (2.) constructing and acquiring an
addition totherecreation building at the
6 Kent :Memorial Park to allow expansion of the
i; Kent Recreational facilities, and (3 )
7 acquiring real properties and constructing a
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of an addition to the Kent Municipal Library building, including
parking, an addition to the recreational building at the Kent
Memorial Park to. allow expansion of the Kent Recreational facili-
ties., additional real properties and a new Kent City Hall aREI-
and the City does not have available suffi-
tient funds to meet the estimated cost thereof; and
WHEREAS, the assessed valuation of the taxable property
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within the City, as ascertained by the past preceding assessment
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;for City purposes, is $31,469,551.00, and the existing indebtedness,
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j including the amount for which the bonds herein authorized are to
be issued, is the sum of $2,527,000.00, of which the presently
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outstanding $227,000.00 par value of bonds having been heretofore
issued, pursuant to vote of the qualified electors of the City as ;
a part of the indebtedness permitted by the Constitution and Laws
of the State of Washington, to be incurred for general municipal
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new Kent City Hall; declaring the estimated
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cost thereof, as nearly as may be; providing
for the borrowing of a total of not to exceed
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! /� soon ovo. or) and issuing and selling
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negotiable general obligation bonds in such
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amount to pay the cost thereof, such bonds to
be payable by annual tax levies to be made
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without limitations as to rate or amount;
declaring an emergency; and providing for the
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submission to the qualified electors of the
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City at :a special election to be held +'t- vf�i
an_�ti:-ele
of the propositions of
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incurring such indebtedness and issuing such
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bonds.
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WHEREAS, the City of Kent, Washington, is in urgent need
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of an addition to the Kent Municipal Library building, including
parking, an addition to the recreational building at the Kent
Memorial Park to. allow expansion of the Kent Recreational facili-
ties., additional real properties and a new Kent City Hall aREI-
and the City does not have available suffi-
tient funds to meet the estimated cost thereof; and
WHEREAS, the assessed valuation of the taxable property
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within the City, as ascertained by the past preceding assessment
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;for City purposes, is $31,469,551.00, and the existing indebtedness,
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j including the amount for which the bonds herein authorized are to
be issued, is the sum of $2,527,000.00, of which the presently
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outstanding $227,000.00 par value of bonds having been heretofore
issued, pursuant to vote of the qualified electors of the City as ;
a part of the indebtedness permitted by the Constitution and Laws
of the State of Washington, to be incurred for general municipal
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capital purposes within the limitation of 1 1/2% to. 5 of the
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valuation of the taxable property within the City and of which the
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presently outstanding $300,000.00 par value of bonds having been
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heretofore issued without a vote of the qualified electors of the
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City, as a part of the. indebtedness permitted by the Constitution
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and Laws of the State of Washington, to be incurred for general
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7 ';municipal purposes within the limitation up to 1 1/2% of the {
iassessed valuation of the taxable property within the City, NOW,
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9 >+ THEREFORE ,
THE CITY COUNCIL OF THE CITY OF KENT, WASHINGTON, DO }
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11 ,, ORDAIN AS FOLLOWS:
12 Section 1. The City of Kent, Washington, for strictly j
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municipal capital purposes, other than the replacement of equip—
14 ment , shall (l) construct, equip and acquire an addition to the
15 � Kent Municipal Library building, including parking, the. estimated
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cost of which is declared to be, as nearly as may be,the sum of
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I $110,000.00; and (2) construct,. equip and acquire an addition to:
the recreational building at the Kent Memorial Park to allow
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19 expansion of the Kent Recreational facilities, the. estimated cost
of which is declared to be, as near as may be, the sum of
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$60,000.00; and (3) acquire real property, T-�te est-iffrft
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�j and construct and equip and a anew Kent City Hall a�
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the estimated cost of which is declared to be, asi,
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near as may be, the sum of $ 15,1-30,C00' oU
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Section 2. The City. shall borrow not to exceed the
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total sum of $I 3o 000• oc) and issue and sell its negotiable
�6 general obligation bonds :therefor for strictly municipal capital
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purposes, other than the replacement of equipment,. to wit: For
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the purposes specified in Section 1 hereof. Such indebtedness toy
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be incurred shall be within the limitation of 1 1/2% to.5% of the!
r' taxable property in the City (being twice the assessed valuation
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1 thereof) permitted.for general municipal capital purposes.
2 Section 3. Each issue of general obligation bonds
3 1authorized to: be issued shall be in serial form, shall bear
4 ';interest :at :a rate: or rates not to exceed 6% per annum, payable
5 J,semi-annually, and shall mature in from two to not more than
6 ' twenty years from the date of issue (the life of the improvement to
7 i+ be acquired by the issue of bonds being at least twenty years) .
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8 ;j The various annual maturities of such bonds shall be fixed in the
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9 �' Ordinance authorizing the sale of the same in amounts that will i
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10 +:`result in a difference of not more than $5,0.00.00 between the
11 ?rhighest and lowest annual payment of principal and interest, ex
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12 .i cluding the first two years from date of issue, computed on the
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13 I" anticipated effective interest rate, the City Council shall in its
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discretion determine will be borne by such bonds. The principal
and interest :on the bonds shall be met by annual tax levies made
without limitation as to rate or amount sufficient in amount :to
pay such principal and interest when due :and the bonds shall so
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The
designation, date, interest rate, or
rates.,
maturi-
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ties: option of
the redemption, form and covenants
of the
bonds
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City. The City may combine all approved bond issues and issue and,
sellthe same as a combined single issue.
Section 4. The City Council finds that the inadequacy
of the recreational facilities at the Kent Memorial Park, the
inadequacy of the existing Kent Municipal Library building and
parking, and the lack of ad3quate real property and space for the.
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existing Kent City Hall,have created an emergency and an emergenc
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28i hereby declared to: exist and that as a result of the existence of
29 y' �such 'an emergency, � g y, it is necessary to calla special election
30to be held
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, in the manner provided by law,: to
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be held therein on said date between the hours of 8:00 A.M. and 8:00
P.M'. for the purpose of submitting to the qualified. voters of the
City for their ratification or rejection, the following propositions
lin the. form of "ballot titles", as follows:
PROPOSITION NO. 1
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"LIBRARY BUILDING BONDS - $110000.00
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"Shall the City of Kent borrow the sum of
not to exceed $1103,000.00 and issue its negotiable
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general obligation bonds therefor, payable by
annual taxlevies to be made without limitation
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as to rate or amount, bearing interest at a rate
"Shall the City. of Kent, Washington, borrow
or rates not to exceed .6% per annum, payable semi -
11annually,
and maturing in from two to: not .more
than twenty years from the date of issue for the
addition
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purpose of constructing and acquiring an
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to the. existing Kent Municipal Library building,
No- i 4/93
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including parking, all as provided by 0 rdinance
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-- --1# adopted on the day of , t- at 3e
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1967..
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"BONDS ... YES / / BONDS ... NO /--7
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PROPOSITION NO. 2
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"RE.CREAT.I.ONAL FACILITIES BONDS - $6.0,000.00
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"Shall the City. of Kent, Washington, borrow
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the sum of not to exceed $6.0,000.00, and issue
its negotiable -general obligations bonds th.ere-
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for, payable by annual tax levies to be made with-
out as to rate or amount, bearing
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.limitation
interest :at a rate or rates not to. exceed. 6 % per
annum, paable .semi-annually and maturing in from
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two to not more than twenty years from the date
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of issue for the purpose of constructing and
to the recreational building
acquiring an addition
at the Kent Memorial Park, to allow expansion of
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Kent Recreational f,4cilities, all as provided by
Ordinance No. ', adopted on the IM day of
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19'67.
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®eCe'.v'A&'A!
"BONDS ... YES / / BONDS ... NO
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PROPOSITION NO. 3
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"CITY HALL BONDS
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$ '1 (3c) t)c�U, oL�
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"Shall the. City of Kent, Washington, borrow
the sum of not to. exceed $ 1j l3�'� ba0• cx� and issue
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its: negotiable general obligation bonds therefor,
payable by annual tax levies to: be made without
2 limitation as to the rate or amount, bearing
interest ata rate or rates not to. exceed '6% per
3 ;' annum, payable semi-annually and maturing in from
two to not more than twenty years from the date of
4 issue, for the purpose of acquiring real properties
;. and constructing a new. Kent Ci 1`� do11tedaon the
5 provided by Ordinance No. , P
--fSi day of 1967.
"BONDS YES /—% BONDS ... NO
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8 Such Propositions shall be so placed upon the ballot
9 that the voters may vote upon such Propositions separately.
10 Section 5.The. City Clerk is directed (a) to certify
11 to the County Auditor of King County, as ex -officio Supervisor of
12 `i Elections of said County, at least 45 days prior to the special
13 election provided for herein and a copy of this Ordinance, showing',
14its: adoption by the City Countil; and (b.) to perform such other
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15 duties as are necessary or required by law to the end that the.
16 questions of whether or not :such .bonds shall be issued as afore--
17said shall be submitted to the voters of the City at their
i8 ! aofresaid election.
19 :i Section 6. This Ordinance is declared to be 'one necessary
20 for the :immediate preservation of the :public peace, .property,
21 health, and safety of the people of the City of Kent, Washington.
22An emergency is hereby declared to exist and this Ordinance is
23 hereby declared. to be in full force and effect from and after its
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24 passage, approval and publication as provided by law.
25, PASSED by the :City. Council -of the City of Kent,
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Washington, and approved by its Mayor at a regu ar meeting held or
27 the :4th day of December, 1967
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29 i ALEX T ORNTON, Mayor
Attest:.
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31 Marie Jense City C erk
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John B. Bei Ifter, Ulty.
Attorney
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Passed the day
of
1967.
196.7.1967.
r,Approved theme day
of
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Published the/,Q,day
of
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I hereby certify
that this is a true
Council of
copy of Ordinance
the City- of Kent and
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N ol . -��S , passed by
Mayor
the City
of the City of Kent
as hereon indicated.
i'!approved by the
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(SEAL)
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Marie Jens
City Cl k
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