HomeMy WebLinkAboutO-0319 - Amends Ord. 318, special election (Special)•,ORDINlu~CE NO.319
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;u~ORDIN"~CE amending sections 2 and 3 of Ordinance No.318 of
the Town of Marysville entitled "An_Ordinance confirm~ng,the r-e su Lf
ofa spe c ta L election held June 13,1\139 providing for additions and
betterments to the existing water wor-ks system of the Town of '
j,:arysville,Washingto:p.,tile,construction of same,and authorizing
the issuance of special Water Revenue Bonds in the sum of One
Hundred Thousand and no/100 ($100,000.00)Dollars to pay therefor;
providing for the form and detail of said bonds,and the issuance
thereof and (L ,;cl::tring an emergency."
BE I'l'ORDAINED BY 'l'HE COUNCIL OF 'I'HE TOWN OF !,:A,RYSVILLE:
Section 1:That Section 2 of Ordinance No.318 of the Town of
Marysville,entitled as above set forth,be and the same it hereby
amended to read as follows:
Section 2:,'fhat the Mayor and Town Clerk of said Town)be and
they are hereby authorized and directed to issue said special Yfater
Hevenue Bonds of the Town of M:arys ville,in the sum of $100,000.00
principal,bearing interest at a rate of not to exceed five -percent
(5%)per annum,payable semi-annually,said bonds to be in ,
denominat ions of $1000.00 each,numbered from one to one bund'r ed,
inclusive,to mature serially in order of number,lowest number
first as follows,(all one thousand dollar bonds):
Date of Maturity:Bonds Numbered:Amount:
,
\.
1,2
3,4,5
6,7,8
9,10,11,12
13,14,,15,16
17,18, 19,20,21
22;23,24,25,26,
27 to 31 inc.
32 to 36 inc.
37 to 41 inc.
42 to 46 inc.
47 to 51 inc.
52 to 56 inc.
57 to 61 inc.
62 to 66,inc
67 to 72 inc.
73 to 79 inc.
80 to 86 inc.
87 to 93 inc.
94 to 100 inc.
1940
1941
1942
1943
1944
1945
1946
1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
July 1,
July 1,
July 1,
.July 1,
July 1,
J'u1y 1,
July 1,
July 1,
July 1,
July 1,
July 1,
July 1,
July 1,
July 1,
July 1,
J\\ly 1,
July 1,
July 1,
July 1,
Ju).y 1,
$2000.00
3000.00
3000.00
4000.00
4000.00
5000.00
5000.00
5000.00
5000.00
5000.00
5000.00
5000.00
50-00.00
':5900.00:;'50~Q.OOtr60'O\b~00
·j706o~00\""
g7000.00(.
1,7000.00 "
'700.0.00
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all of said bonds being payable only out of thegros13 r~yerp~~sof':
the waterworks system,of said Town,in all particulars;i."s(set ,,""•. . .•.'....,"c,·.",·:.:,,·.t·,-_••:,."/:..~'.,:.:.':._,:.:':',forth in Ordinance No.317..'·.f:«iif;:j,.",ii,.'·I!'
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. SECTION 2:TJ:1~tSection 3 of 0.:rdinanceNo .3:L8;Of},;'Wj;_hfr;~\'.¥Clwn·r;/,
of !I1erysvil1e,en tl t1ed as abOVE!setfoJ:'th,beand'_,~he':§,am~",~s '0)'",
he reby amended to read as follows:''"
Section 3:That ,said bonds herebyauthorized,Sba11":bei~{~
substan:tia1ly the following form .exc ep t as to dates-ofPl;\Yme;'Ilt:
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'$1000.00
UNITED STATES OF AM:ERICA
STATE OF WA$HING:TON
T OWN OF MARYS VI LLE
MARYSVILLE 1939 SPECIAL WATER REVENUE BOKTIS ,.
No-----
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KNOVi ALL MEN BY:THJ!!SE PRESENTS,That'the TownpI'M~y;s;"(;:lll'e;t~.:,<,
~muni cipa1 corp OJ:'a;l;iozi'';.Of.:he ,State,of ...•Washing~0I1;>.~{~c1SP:8"f~~age.s1l~<~:!'
ltself to owe and ro r the vlli.il.ue 'received'hereby prom,lse.s'.;!tP,~pay:·")",.....~,,;;~~1~&~:.
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.,
ORDIN/iNCE NO.319
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to bearer on the 1st day of July ,19_,theprfIlcipaJ"s'UI!l of one
thousand dollars ($1000.00)"wi th interes.tther~9nat;tb.eJrateofJperannum,payable semi-annually on the f.ir;stdaysof July
and January of each year as."evidenced by and upon p rese rrta'b i on
and surrender of t he annexed,interest coupons as they severally
become due,both principal and interestbeing'pl:lyabl~in<lawf'ul
money of th e United States at the officeof ..:1;he:.f'.['rea~p.rer of said
Town of Marysvi 11 e or at the fi scal agency of theS:tfite of
:'Nashington in the City of New York,at the opt Lon 'of 'the holder,
and only out of the gross revenues of the water'SUPP~Y system of
said Town of Marysville as providad in Ordina:nCle;~o.'317 of said
Town,passed and approved lVIay15,1939.
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This bond is one of..an issue.of speof,ah"wl.l'tElFreyenue bonds
in the principal sum of $100,000.00 author1ze:d:py!'the'vdters"ofF
said Town of Marysville at anelect.ionhel,d Jun'§.-5,1939,pursuant
to said Ordinance No.317 for the purpose'..:.ofprq:v;iding.funds for
constructing certain additions and betterlilent·§:M>themunicip?-l
waterworks system and is payable out of,th,e ~'p~'qtal riindcreated"
by said ordinance called,"Ma::ysville 1939::;ffi'q,ili,~1.WEitElnRevenue
Bond Fund No.2",which fund lS to bedravw u:gq~:..ror,.:t;J:lesole,..
purpose of pay ng.th~pr i~cip(;ll and il:J;terE\~j;~o,f~f:>:ittd,,,,P.'aRq,.~,j?,rWi~ed".
however-,tha ~begwnlngwl th th~<yearl"g?;Z{i~g.~*~!'l..r.El8;:f',~,~:t;at~~2~·.
!seml-~nnual ln~erest J?aying datet1te.Tq:Y';gTI9f;~y,\:ix.~:t;~ElV):t;eseI,'V;el3
!th~rlght ,at 1 t s op t t on ,tocall,redElEllll,k~~n4~i';I);gY5i.~Il~r9fal1 91'I saf.d bonds then reI?-aining outSt;~ndi~g.:;.::,~!+,?h~9c~~};1';'~Ilii:ikP¢ayment;9f"i bonds before matunty shall begw Wlth,:m\j,1(1l:\:r~~~:t;,.;n\ll,lJ-.R"Elr.ed boIlP:
,and cont inue .in the reverse order ofth~:l,:t\ma;t\u~it~es';Y:.',.
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The Town of lVIarysville hereby covenants:wij;h t.heholders of
this bond that it will ke epaand perform all of.:the covenants and
promises in said Ordinance contained to be by!i;l;,kept and performed
and said Town does hereby irrevocably obligate'~ndbind itself to
set aside arid pay into said bond fund from the'ogrossrevenues of
said water system at least thirty da.ysPFi9r:,to/'i.~!le,I1,~:spective
da tes on which the int ere st or principal'andT:in11,~rest;)i'.Ofsaid'bonej,s
shall become due and payable,a sum equal,to;th~<',amoulJ.j;sof s'llOh
interest or such principal and interest,'as th~',:;Case;IDaY be,'which
amounts so pledged are hereby declared to be,~.l)~iorilienas in
Or~inance No.317 pr ova ded ,and a ?h~rgeHPon;iith-i\1,gr()I3.l'l revenuea-or
sai d Vla~erworks system and all addltlo~I3\~,tle;$lt;9:!;',;sll:p~riorto,;"all ....
other Li en s and charges,exc ep t Lng neces~.~rYJc,tl~r,gesf()r;maintenance
and operation,and the spe c te L water reveIlue<bof1~~here·tofore issued
and now out standing.,..'.;e")ii:i<
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The Town of MarYsville further binds its'~lftnot.to sell,1e ase
ordn any manner dispose of said wa terw":J;'{k:>i sys'~~moI':'./,ilJ.Y addHions
thereto unt il all of such bonds,the int!¥~~st!;,'tp(ereoIl;':>bi,llhay!",.,
been fully paid,and said town furtheragr.!"es'w!f:l;:Le s.!l.i'd bonds.Iare
out stand ing to ma intain m good condit i0lJ.'~Ilcl,i;.q~:~rat!"jKs'ii.idwaterworks
system and to establish and maintain ratesan.d'()J?arge:A·'~Or water
sufficient to permit the payment into said.speci8:J.fu:iJ.q.;of sa~d,s).Ulls
which the town has pledged to be set aside 'fI()r~he paym!i'nt of the'
principal and interest of said bonds...
It is hereby found,ce:etified anddeciaredT';th at said bonds are
issued pursuant to and in strictcomplilin.CE\V/it,h;,.the1Il.ws and.con-
stitution of the State ofWashingtonandr)oftl1e"!:P*din,alJ.C,es of~he
Town of Marysville,and that all acts,conditioIl's<and'things reqUired
to be done precedent to and in the issuance of this bOIld have hap~
pe ned ,been done and performed,as requ.ired by Law,..
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-•ORDINANCE'NO.~.,3l9 .•-~--'"'":"T:,,",,".~,-.._--"...~-~..,.
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TOWN OF MARYSVILLE
By:
-'I""tc::s,-.- 17:1a""y"'0'::r ,-.- -,--- -
INTEREST COUPON
The interest coupons attached to said bonds shall be.'..
substantially in the follovTing form except as to dates 0:t'::pa;ymer,i,~;
'~,;;i'--.'I::,".".
$..··~;;!;:i;
ATTEST:
Its Tow'il"Cl'er k•
'No.----
.Or:the !irst day of , '19_,the Town.of ,(,:,~',:J::
}.larysVllle,.Vashlllgton,wlll nay to bearer at theof'flc.e'gf"'0,l"1,':
the Town Treasurer of said Tovm of MarysviHei 6ra~(the/f';:i.F'scal'~%:1;:';
agency of the Stateof··Vlashington'in'the'·City ofNe>'iyorJ.{'\a:t··.·i;"flW..:···
the option of the holder the sum of$.,:i.ii.lg;yr,~i:';;n1~neY;\\'f;,!'
of the United State.·.s,soielY fromthe'special furidFk:now.ri;AS:;('~i';jl~{--".'.''.',....-...,."'".-'.;;',':."'..,""'::',.."'-"',";.'.~'''~V~'''·~''''-''':··Ji,t>"',-,',"Marysville 1939 Special Water RevenueFundNo./2n'said;ii';$:uI1E:rt,,'
be ing the s emi-annue,l int erest due t.hat day on';it s,:;:s:pec~~\~'1:iate~~i';>
revenue bond dated day of_'.;_,;19~9,num'b:~;t't:l,~.:i"';.
"':;;~;,(ift!~~;
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(Signed)Arthur .Brown
Mayor.
(Signed)Phil G.Warnock
Town Attorney.
I'assed this 18 day of Sept.1939.
At t es t :.",.:;::-:-===,..-,,"""-=:--_Its 'rown Clerk.
Attest:
(Signed)H.F.Pfromm.
Town Clerk.
Ap:,)roved as to r orm: '
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