HomeMy WebLinkAbout331Authorising Bond Issue.
Ordinance NO..-3*31 -------------
An Ordinance of theCity of Kent, authorizing the Mayor and City Clerk to issue bonds against
Local Improvement District No ........ .1..3fl..................... 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. --13-------------- of the said city, and the property included therein, which district was created by
Ordinance No.3U4--------------- of said city, as provided by law and the ordinances of the said city, in the
aggregate sum of._tNenty.-four.-hu ids"1` d ---nine .Y----"OvOn-- �61B.-Dollars ($--249-7-,J0------)
Section 2. Said bonds shall be in denominations as follows:
Bonds numbered from 1 t1- --- .shall be for the sum of One Hundred Dollars each and bond
6� .Dollars ($--$'-.-I38. -------- ) •
:umbe------ be for the sum of.....--.Ai-i2v4tg---BB�•1�11---p
-----------day of
Said bonds shall be issued on or after the----- lP- @8TL---•---------•-
--------------------------------
Lsa.t3ri her 1912..., and shall be payable on or before ... f-i=V8-----------------------
years after the date of their issue.
They shall bear interest at the rate of....-Higg t- ----per cent. per annum from the date of their issue
Cantil 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
Section 4. This Ordinance shall take effect five days after its publication as by law provided.
Passed the council...-@gai6T'..-2---------------- 191P..._.
9�
2------..1�1.
Approved by the i4layorD�3�3-eMber_•-�d- - -
Mayor.
Attest:
'.... ............ .....
City Clerk.