HomeMy WebLinkAbout329Authorizing Bond Issue.
Ordinance No -.AM ------------
An Ordinance of the City of Kent, authorizing the 1llayor and City Clerk to issue bonds against
Local Improvement District No ------ 4t4T ........................ of said city, providing the rate of interest the said
bonds shall bear, the date of their issue and of their maturity, and authorizing their sale or delivery
to, the contractor making the improvement in the said district.
THE CITY COUNCIL OF THE CITY OF KENT DO ORDAIN AS FOLLOWS:
Section 1. That the Mayor and the City Clerk of the City of Kent be and they are hereby au-
thorized and directed to execute and issue local improvement bonds against Local Improvement Dis-
trict No ------ X�A ----------of the said city, and the property included therein, which district was created by
Ordinance No.--- 40 ------------of said city, as provided by law and the ordinances of the said city, in the
aggregate sum of r -- Seventy.. Z �� Dollars �$---
Section 2. Said bonds shall be in denominations as follows:
Bonds numbered from 1 to- ------- JZ ---------- shall be for the sum of One Hundred Dollars each and bond
rp__-----------_Dollars i$---.71*47---------)
~nmbered__��_._____
__.__._.shall be for the sum of_____________�� .___...__
i44#+h------------------------- ------------------------------------- day of
Said bonds shall be issued on or after the______:____:-:-_--
8Comber ---------------------------191 ---, and shall be payable on or before.._ ------------------- :--
Tears after the date of their issue.
They shall bear interest at the rate of._A-------per cent. per annufrom the date of their iss
! 9AJ m ue
until called for payment by the Treasurer of said city, which interest shall be payable annually and shall
.be evidenced by interest coupons attached to each of said bonds, one coupon for each year's interest; all
of which coupons shall be subject to the terms and conditions of the bond to which the same are at-
tached, and if any bond shall be called for payment before the maturity of any coupon that maybe at-
tached thereto, the said coupon shall become void.
Section 3. The bonds issued under the provisions of this ordinance may be sold for cash at not
less than their par value, or may at the election of the city be issued directly to the contractor mak-
ing the improvement in said district, and delivered to him by the City Clerk, immediately upon their
issue, or
Section 4. This Ordinance shall take effect five days after its publication as by law provided.
r OC . 2ne...101 191---....
Passed the council ----------=----------------------•------•-
..
'1`LUe.?rcq.19 ` ..
Approved by the 1\1ayor ----------------------------------------------------
...1. 9 1
C
Mayor.
Attest:
City Clerk.