HomeMy WebLinkAboutOrd 0133 - LID #1 (Local Improvement District) - Issuance and Sale of BondsORDINANCE NO 133
AN ORDINANCE AUTHORIZING THE ISSUANCE OF
$15,600 BONDS OF LOCAL IMPROVEMENT DISTRICT LID #1
OF THE CITY OF TUKWILA
WHEREAS, by Ordinance No. 131 of raid Tow*, passed
by the Town Council and approved by the Mayor on November 12,
1929, the assessment roll in the total sum of $1,8,333.54 for
Local improvement District No. 1 of said Town was approved
and confirmed, and thereafter the Town Treasurer gave due notice
of a€lleetion on said roll, end during the thirty -day period
provided by law assessments appearing on said roll were paid in
the sus of $3,692.96, mid asseraments appearing on said roll
in the sum of 415,660.88 now remain unpaid and a rs payable in
tan (10) equal annual installments with interest thereon, pay-
able annually at the rate of per mum; and
WHEREAS, it Is necessary to provide for the i enuonee
of bonds of said Local Improvement District in the approximate
mount of the unpaid assessments apper ring on said roll, for the
purpose of paying and redeeming warrants drawn on the fund of
said District
NOW, THERM B BE IT ORDAIN BY R COUNCIL C1
THE Toww of =nu A3 FOLLOWS:
Section 1. That there be issued bonds in the principal cum of
415,600 of Local Improvement District No. 1 of the
Town of Tukwila, King County, Washington, which bonds zhell be
dated January 4, 1930, shall, mature January 4, 1942, shall bear
interest at the rate of per annuac, payable annually; that
Interest aoupone shall be thereto attached to evidenee the in-
stallments of interest to fell due thereon from date therett to
maturity. Said bonds shall be of the denominmtion of $200.00
each and shall be membered 1 to 78, both inclusive, and shall
be in the form therefor described by Ordinance No. 115 of said
?ow.
3eetioa 8. Said bonds shall be payable to bearer, shall be
signed by the Mayor, attested by the T =Iwn Clerk
and sealed with the Town seal, and the interest coupons shell
bear the fete -simile signatures of said officers.
Scotion 3. All or any psrt of said bonds Y::ay be sold cash at
par and accrued interest, or may be issued at per
and accrued interest in exchange for warrants drawn on the to:d
of said District on the basis of per and accrued interest of
bonds for per and socrued interest of warrants.
Section 4. Whereas, said Town has no official newspaper and
no newspaper is printed or published therein,
therefore this ordinance shall be posted in at lust three
pub? ie phases in said Town, and shall become effective upon its
passage, approval and posting as aforesaid.
Passed the Town Council at a regular meeting thereof
held on January 2, 1930
Mayor John r. Walkup
City Clerk J.A. Duff
Posted in three public pluses in the Town of Tukwila on January