HomeMy WebLinkAbout330Authorizing Bond Issue.
Ordinance NO....00------------
An Ordinance of the City of Kent, authorizing the Mayor and City Clerk to issue bonds against
Local Improvement District No ------ � q..------•--•-•--•---. 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.
HE CITY OF KENT DO ORDAIN AS FOLLOWS:
THE CITY COUNCIL OF T
"'- 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 " '-�----.-- . .•.•of the said city,
and the property included therein, which district was created by
Ordinance No.___ 3 ------------of said city, as provided by law and t ordinances of the
��said city, in the
Thirteen 1It2l'1C� d Thf�'�►�' �.................................VMDollars (,A837 f,29 )
aggregate sum of ----- ._...__._. .-
Section 2. Said bonds shall be . denominations as follows:
Bonds numbered from 1 to ............ 3..... ------.shall be for the sum of One Hundred Dollars each and bond
37.29
r,nmbered__.14---------------shall be for the sum of._____. 37 `k9
------------------------Dollars �$.................)
th#---
day of
- ----------------- -----------------
Said bonds shall be issued on or after the---------------- ----,�
Pecett bo able on or before ---- ----------- --•------------------.
---- 191 and shall be pay
years after the date of their issue. eight
They shall bear interest at the rate ofeight ....... cent. per annum from the date of their issue
la7til called for payment by the Treasurer of said city, which interest shall be payable annually and shall
be evidenced by interest coupons attached to each of said bonds, one coupon for each year's interest, all
of which coupons shall be subject to the terms and conditions of the bond to which the same are at-
tached, and if any bond shall be called for payment before the maturity of any coupon that may be at
tached thereto, the said coupon shall become void.
Section 3. The bonds issued under the provisions of this ordinance may be sold for cash at not
less than their par value, or may at the election of the city be issued directly to the contractor mak-
ing the improvement in said district, and delivered to him by the City Clerk, immediately upon their
issue, or
ffect five days after its publication as by law provided.
Section 4. This Ordinance shall take e
Decacber +3nd,�1912191..... ..
Passed the council_______________________
1)ecembe " 2nd,191$' lel.
Approved by the Mayor---------------------------------
----•-------------------........
Mayor.
Attest: ,
__ __ __ _ _ ..__<..............•----- - ---------------
City Clerk.