HomeMy WebLinkAboutOrd 0082 - Special Election for Loan and General Negotiable Coupon BondsAN ORDINANCE SUBMITTING TO THE QUALIFIED
ELECTORS OF THE TOWN OF TUKWILA AT A
SPECIAL ELECTION, TEE PROPOSITIO OF
BORROWING SEVEN THOUSAND DOLLARS (07,000.)
AND THE ISSUANCE OF THw, GENERAL NEGOTIABT,E
COUPON BONDS OF SAID TOWN Ti REFOR,'OR
STRICTLY MUNICIPAL PURPOSES.
BE IT ORDAINED by the Council of the Town of Tukwila
as follows:
Section 1. A Special Election shall be held in said
town on April 1 5 .1 1919, at which election there shall be
submitted to the qualified electors of said town, for their
ratification or rejection, the proposition of borrowing Seven
Thousand Dollars ''7,000.), and the issuance of the general
negotiable coupon bonds of said town therefor, for strictly
municipal purposes, to -wit: The grading, paving and otherwise
improving of the streets in said town; said bonds to be of the
denomination of Five Hundred Dollars (0500,00) each, and to
bear interest at the rate of six per centnm (6,0) per annum,
payable semi annually, to be payable,both principal and interest,
at the office of the Treasurer of said town, or at the Fiscal
Agency of the State of Washington, in New York City, at the
option of the holder, and to be dated May 1st, 1919, and to
mature as follows:
$500.00 on May 1, 1929, and a like amount annually
thereafter, up to and including May 1, 1936, and
01,000.00 on May 1st of each year thereafter until
all of said bonds are paid.
Section 2. The ballots used at said election shall
contain in substance the following:
"Shall the town of Tukwila, for municipal purposes,
borrow Seven Thousand Dollars ($7,000.00) and
issue its general negotiable coupon bonds therefor
"Bonds Yes"
"Bonds No
The elector shall prepare his ballot by striking there-
from "Bonds Yes" or "Bonds No so that the remaining portion
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of his ballot shall express his vote on the question. If three
fifths (3 /5ths) of the legal ballots cast on said question of
issue of bonds, be in favor of said bond issue, said town shall
be deemed to be authorized to borrow said money and issue said
bonds, and the Town Council shall provide for the issuance, sale
and delivery of said bonds.
Section 30 Notice of said election shall be published in
the Seattle Daily Star, a daily publication of greatest circu-
lation in said town, which publication shall be for a period of
fifteen (15) days, daily, all preceding the date of said special
election, and the Town Clerk shall also post notices of election
in three (3) of the most public places in said town, at least,
fifteen (15) days prior to said election date.
Section 4. For the purpose of said election, all of the
territory within the corporate limits of said town is hereby
created into and declared to be one election precinct, and the
polling place therein shall be IutzX Mall, corner Reitz Avenue
and Main Street, and the polls shall be open at 8 o'clock ..M.
and close at 8 o'clock P.M., and the officers of election aro
hereby designated as follows
E.W. Engel for inspector
Mrs. S. Neal and
Mrs. G.F. Kassner for judges
In the event said bonds shall be issued, there shall be
levied during the year 1919, and annually thereafter, a tax
sufficient to pay the interest upon all of said bonds as such
interest falls due, and in the year 1928, and annually thereaftE
there shall be levied a tax sufficient to pay the principal of
the bonds which become due in the next succeeding year; such
taxes shall be in addition to all other taxes, and shall be
levied upon all property in said town subject to taxation, and
such tames as collected shall be paid into a special fund
hereby created and known as "Bond Fund of 1919" and no portion
of the moneys in said fund shall be used for any other purpose
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than the payment of the principal and interest of said bonds.
L919.
PASSED BY TIE TWO COUNCIL this 19th day of March 1919
Mayor E.F. Greene
City Clerk Pro Tempore Y.J. Klein