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Home My WebLink AboutO-0320 - Amends Ord. 318, special election (Special)'f -~-::::.-- ,~,,,~::-;;;:":"~:,"{, /;#r OBT/BF 10-26-39 5 ORDINANCE NO.S'}AJ AN ORDINANCE alllendillgSecMons 2and3 Of'Ordinance No.318 of the Town.of Marysville entitled'ItAn Ordinance confirming th~,result,of a special election held J'Q.ne,~.1939,p:r'0vicil.ingf'lllr ad- ditions ,and betterments to the,existing water- wlllrks ••system of the Town of Marysvi11Ej),Washing- ton,the constructi,on (ilf',~~e,e.nd e.uthor1zin.g the issuan.ce of'spe(jia1 V;a~Elr reven.uebonds in. the sum of'One Hundred Tho~~and and nO/1()0 ($100,000.00)Do~lars to P,\ty theref'or;prlllviding f'or the f'ormand detail of;'isaid bonds,and the issuance thereof',and declaring an emergencylt, repealing Ordinance No.319 of'said Town passed and approved September 18,1939;fixing,the amount of'said bonds to be now issued and ratify- ing and confirming the sale thereof'. BE IT ORDAINED by the Council of the Town of'Marysville: of tne Town of MarySVille,be,and the same is hereby,mended to read as f'011ows: Section 1.That Section 2 of Ordinance No.318 I I Section 2.That the Mayor and TownC],erk be,and the,y ,, I ,~, '"2,,000 •.00 1--a> ,'ll::S,GOO.OO .J-...-5 3,000.00 /,-7 11 4 000.00 '1-'1-"-'0 ,/1-,.,..,J '.'',',',", 4,000.00 .J:!>-/"("J.~'4 ,....5,000.00 '7-,g.,1-'>-c ->-1 I,/,5,000.00 7-0..->-$-'","'•.,.,.......4 ,G 5,000.00 ,7 -1-'4"1-9 •,.a -?>, III 5,000.00 :>-.-,."!>..-~"f-~"'·31" •.•5,000.00 .1"'.3.-39-'-1.·'1-1 .......5 "000,.,00 ..,......-{...-'I...,-"S:-",.1. ..."'5',000 •.00 If "1 -..,'4-'1"1"'$o-SI ~5"000.00 .!fe.--53-".-f..-:-"S.S'/" :'115',000 •.00 5',-'"..-s:1-(.~.r.{ ",'·:·~t:i-\'}>:'\'.'.~·.-_'.',",,',,',"".:'",..".•'",h 5,,0.00'0_00 I.0..•I..~,,+~/"..~.&.(" November l,1940 .0.' Novefuberl,194i November I,1942 Nowember I,1943 November I,1944 November I,1945 November I,1946 November I,1947 November I,1948 Nevember I,1949 November I,1950 Nevember I,1951 November I,1952 November I,1953 November I,1954 • f'ollows: are hereby,authorized and directed to issue under date of November 1,1939,special water reven'liebOnds'of',tb.eTownof' MarysvUle in the prineipalsum of'$90,000,bearingint,erest at the rate of 4~%per annum payab1es'Elfui-annually,said bonds to be in denOminatiens of'$1,000.00 each,nUfubered from ene to fifty inclusive,and rna ture serially in order of'tneir nUlllber as ....."" '; November I,1955 November I,1956 November I,1957 November I,1958 3;>--6,000.00 JI/-7 ,000.00 3 f.7,000.00 J 8 4,000.00 ~7.1.,,_1.~.""''11-7-v',.,,_.,'"/-_.,,:..,1.-.,,"7\l'-,1 t,,-,,1-1'"-"3-~'f""".,,1,. 'n _on -"'I'q e said town having the option to call and pay any or all of the' bonds then ou tstanding on any semi-annual interest payment date on and after November 1,1947,all of said bonds being payable only out of the gross revenues of the waterworks system of said town as more particularly set forth in Ordinance No.317,at the fiscal agency of the State of Washington in New York City. Section 2.That Section 3 of said Ordinance No.318 of the Tbwn of Marysville be,and the same is hereby,amended to read as'follows: Section 3.The said bonds hereby authorized shall be in substantially the follOWing form,except as to dates of pay- ment: No._$1,000.00 UNITED STATES OF AMERICA STATE OF WASHINGTON MARYSVILLE 1939 SPECIAL WATER REWNUE BONDS \' KNOW ALL MEN BY THESE PRESENTS:That the Town9fMarysville,a municipal corporation of the $tateof Washington,acknowledges itself to owe,and for valtte received hereby promises to pay to bearer on ~he first day of November,19 ,~e principal sum of $1 000.00 together with interest thereon at the rate of 4~per annum,payable semi-annually on the firs t days of May and November of each year as evidenced by and upon pre- senta tion and surrender of the annexed interest coupons as they severally become due,both principal and interest payable in lawful money of the United States at the fiscal agency of the State of Washin.gtoninN~w York City.saili bonds,both principal and interest,are pay- able solely out of the special fund known as "'Marysville 1939 Specia.l Water Revenue Bond Fund No.2"created by Ordinance No.317 of said town. The Town of MarySVille reserves the right to pay all or any of the unma tured and outs tanding bonds of this issue in reverse Order of number on any interest payment date on and after November 1,1947,by giving thirty days notice of such intended redemption,by pub- lication in the town official paper,and interest upon any bonds so called for redemption shall ceaSe on the da te the same are oalled for payment. 2. , ....~,~.!.Io>.. ,"''c.~ This bond is one of an issue of special water revenue bonds in the principal sum of $90,000 issued pur-suan t to Ordinances Nos.317 and 318 of said Town, as amended,for the purpose of making certain additions. to and improvements of the existing waterworks system of said town,and is payable solely out of the gross revenues of said waterworks system. The Town of Marysville hereby agrees with the holder of this bond that it will keep and perform all of the covenants in this bond and in said ordinances to be by it kept and performed,and said city does hereby irrevocably obligate and bind itself to set aside from the gross revenues of said municipal waterworks system and all additions thereto,and pay into said fund at least thirty days prior to the respective dates on which the interest,or principal and interest,of this issue of bonds shall become due and payable,amounts sufficient to make such payments as they respecti~ely become due.Said amounts so pledged are hereby declared to be a prior lien and charge upon the gross revenues of said municipal waterworks system and all additions thereto,superior to all other liens and charges what- soever excepting the necessary cost of maintenance and operation of the said waterworks system,and excepting the special water revenue bonds heretofore issued by said town and now outstanding. The Town of Marysville further binds itself to establish and maintain rates for water service which shall provide sufficient revenue to permit the payment into said special fund of the sums which said town has pledged to be set aside for the payment of the principal and interest of this bond issue. It is hereby certified and declared that said bonds are issued pursuant to and in strict compliance wi th the cons ti tution and laws of the State of Washington and the ordinances of the Town of Marysville,and all acts,conditions and things required to be done pre- cedent to and in the issuance of this bond have hap- pened,been done and performed as required by law. IN WITNESS WHEREOF,the Town of Marysville, Washington,has caused this bond to be signed by its Mayor and attested by the Town Clerk,and its corporate seal to be hereto affixed and the annexed interest coupons to be signed by the facsimile signatures of said officials,on this first day of November,1939. TOWN OF MARYSVILLE,WASHINGTON BY...;__-;-;=-.,-__~_ Attest: Town-Ulerk 3 • • -.» t.-."" The interest coupons attached to said bonds shall be in substantially the following form: No.$22.50 On the first day of ,19 the Town of Marysville,Washington,will p-a~y-'to- bearer at the office of the fiscal agency of the State of Washington in New York City,the sum of $22.50 in lawful money of the United States,from the special f·und of said town known as "Marys'lTille 1939 Special Water Revenue Bond Fund No.2",said sum being the semi-anntial interest due that day on its special water revenue bond dated November 1, 1939,numbered • TOWN OF MARYSVILLE,WASHINGTON By----;;-;r:~:-c:------- Attest: TowrlIJIerk:. Section 3.That Ordinance No. 319 entitled: "AN ORDINANCE amending Sections 2 and 3 of Ordinance No.318 01'the Town of Marysville entitled 'An Ordinance confirming the result of a special election held June 6,1939,providing for additions and betterments to the existing water works system of the Town of Marysville, Washington,the construction of same,and authori- zing the issuance of special water revenue bonds in the sum of One Hundred Thousand and no/~OO ($100,000.00)Dollars to pay therefor;prOviding for the form and detail of said bonds,and the issuance thereof,and declaring an emergenc.y~f is hereby repealed. Section 4.That there now be issued and sold out of the bonds authorized to be issued under said Ordinances 317 and 318,special water revenue bonds in the principal sum of $90,000, and no mor-e ,and said bo nds be sold and delivered to Wm.P.Harper &.Son and Co , ,and Ferris &.Hardgrove,in accordance wi th their 4• • ~-","~; "","'" ri.- offer to purchase the same,dated October 25,1959,and accepted by motion of tbetown co);\ncil,the sale of said bonds as evidenced by said offer and acd~ptance being in all things ra tified and conf irmed.t. ";-',< S~dt[6ricc5f ·'Th:t.sb~diha~di:l ·sb.aE\;tak~c;,~:§~~g1:;immedia.t.ely ,...'-'",··."..,..'.."···<..,.,.-",..,·,,·,',,·'h.-'·,:_""+._"".,',.,_,_,_",0",:.. , .. ~pon its passage and p~b1ication. Passed this .~O .day of 06tober,1939. ~ Mayor Attest: J'd,J-:P~ T6wn c~rk 'c"-' ~pproved as to form: C7Kt~~e-# Town Attorney P~b1ished November 1-----,1939. 5 • •