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Ordinance 0101.ORDIF, AL CE N 0.101. An Ordinance creating an indebtedness against the Town of Edmonds, Washington, in the sum of Six Thousand ($6000.00) Dollars for the purpose of purchasing materials for, and the construction, of a plan and water system for said Town to be owned and controll- ed by said Town, specifying and adopting a plan of water works for said Town, and declaring the estimated cost thereof as near as may be; providing for borrowing the said sum of Six Thousand Dollars for such purposes by issuing and selling the negotiable general, Municipal coupon Bonds for said Town;therefore, in case three -fifths of the voters of said Town voting at an election held for that purpose shall hereby assent to such issue and sale there- of, and for the calling of a special election for the submitting to the qualified voters of said Town the ratification or rejection for said plan and system of water works so adopted and the creation of said indebtedness and the issuance of said Bonds therefor. The Town Council of the Town of Edmonds do ordain as follows: SECTION 1: That there be, and is, hereby, created, an indebtatA - edness against the Town of Edmonds, Washington, in the sum of SiXA40 Thousand'($6000.00) Dollars. SECTI OL 2: That the purpose for which said indebtedness is dam, so created is to purchase materials for and build, construct and erect a plan and system of water works for said Town, hereinafter more particularly described, and to pay all necessary costs and expenditures thereof. SECTIOr, 3: That the plan and system of water works to be d9 adopted by a majority of the qualified voters of said Town acer . - tually votirg at said election to be held as hereinafter provided is to divert the water from a certain stream near the Town of Edmonds and to carry and conduct said waters through wooden pipes to residences and citizens of said Town and vicinity according to the plans now or, file in the office of the Town Clerk of said Town which are hereby referred to and adopted by the Town council of said Town. SECTION 4: That the cost of said plan and system of water- works, as near as can be estimated, is the sum of Six Thousand ($6000.00) Dollars. SECTION 5: That to pay the costs of construction of said f plan and system of water works, the said Town of Edmonds be, andG'U�� it is hereby authorized to borrow the money necessary therefor, and issue and sell its negotiable, general Municipal coupon bonds in an amount not exceeding the sum of Six Thousand ($6000.00) Dollars in case three -fifths of the qualified voters of said Town voting at an election to be held for that purpose, shall assent to the same. SECTION 6: The Mayor of the Town of Edmonds , by w7. undero d•� Z46the direction of the Town Council of said Town, is h�rYi:-r authorizedfi and directed, in case the qualified voters of said Torn at an election for the submission of the proposition hereinbefore set forth, as hereinafter provided, shall adopt and assent to the same by a three -fifths vote of the qualified electors of said Town vot- ing at said election; to have engraved or lithographed and printed, and to issue in the name of said Town, the negotiable general 66 Municipal coupon Bonds for water works p�#poses as inthis Ordi- nance provided, to be designated on the face thereof as"general Municipal Bonds of the Town of Edmonds for waterworks'; in the sum not exceeding Six Thousand ($6000.00) Dollars ir denomina- !-tiors of not less than One Hundred ($100.00) Dollars nor more than One Thousand ($1000.00) Dollars each, payable twenty years, (the Town_ of Edmonds reserves the privilege -of payimg ir_ ,ten years) from date of issue thereof, , to be numbered from one up consecutively, with interest at the rate of not exceeding six percent. per annum, payable semi-annually, with interest coupons attached numbered to correspond with said Bonds. Said Bonds shall be signed by the Mayor, -attested by the Clerk with the corporate seal attached and countersigned by the Treasurer of said Town. The signatures of said officers shall be lithographed or engraved in fac simile or, each of the semi-annual interest coupons accomparyirg said Bonds, and said Bonds shall be register- ed by the Town Treasurer of said Town in a book to be kept specially for the pikrpose of registration of the Bonds of said Town; said Bonds when so signed, attested and countersigned as above provided, shall be delivered by the Mayor to said Treasurer for sale and negotiation as hereinafter provided, taking the receipt of said Treasurer therefor. SECTIOBT fi: Such Bonds when so authorized and ready for issue as aforesaid, shall -be sold by the Town Treasurer in such a manner and at such a price or for such terms to such person or persons and at said time or times and either all together or in different blocks as the Town Council of said Town may by resolution direct and require for the best interest of said Town, not in violation of the laws of the State or Ordinance of said Town, provided, how- ever, that said Bonds shall not be sold for less than par with accrued interest in any event. JJJ aCL60b SECTION 8: The proceeds of such bonds whey. received shall be - paid into the Treasury of said Town to the credit of a fund to be V known as "Waterworks Fund" to be applied for the purposes of this Ordinance and paid out and expended as the Town Council may hereby t ..by resolution prescribe and direct. ,Je�SECTION 9: There shall be levied each year by the Town Council of said Town in its annual tax levy a tax upon all pro- perty of said Town taxable for the payments of such Bonds as may be issued in pursuance of this Ordinance, sufficient to pay the interest of such Bonds as the same shall accrue, and the amount of such tax as collected shall be by the Treasurer of such Town credited to a special fund for the paymer.:t of interest on such Bonds, which is hereby designated "General Municipal Coupon Bonds for Waterworks Interest Fund", and no part of which fund shall be diverted to any other purpose than the payment of such interest. t SECTIOE 10: &t least seven years prior to the maturity of said �onds , and thence forward each year until their maturity, there Ar shall be levied by the Towr Council of said Town in its annual tax leV a tag, upon all property i= said Town taxable for the payment of such Bonds as may be issued in pursuance of this Ordinance, suf- ficient to accumulate during said series of yea:F a fund equal to the principal sum of all said Bonds then remaining unpaid, and not owned by said Town; the amount of such tax as collected shall be by the Treasurer of said Town credited to a special fund for the paymert of the principal of such Bonds, which is hereby designat- ed the "General Municipal Coupon Bonds for the Waterworks Sinking Fund", and no part of which fund shall be diverted to any other purpose than the payment of such principal. SECTION 11: Than a special election shall be called and had f in said Town on the 30th day of November, 1901, for the purpose of submitting to the qualified electors of the Town the ratification or rejection of plan and system of waterworks so adopted and r whether said Town shall borrow and become indebted in the sum of Six Thousand ($6000.'00) Dollars to pay the costs of construction of said waterworks, and issue its Gerera.l Municipal Coupon Bonds, for waterworks purposes in the sum of Six Thousand (6000.00) Dollars. SECTION 12: The following form of ballot to be used at such 67 special election is hereby adopted; Special election held in the Town of Edmonds, State of Washington, November 30th, 1901. Official Ballot. All of this Ordinance, showing the dates of its pasaage, cr,� proval and publication, and shoring immediately thereafter in a farm convenient to be marked by the elector, the following: NO-1: For the creation of an indebtedness against the Town of Edmonds, Washington, in the Sum of Six Thousand ($6000.00) Dollars, and the issuance of its General Municipal Coupon Bonds for water works purposes to borrow the same. rO-2: Against the creation of an indebtedness aC;ainst the Town of Edmonds, Washington, in the sum of Six Thousand (�6000.00) Dollars and the issuance of its General 2unieipal Coupon Bonds for waterworks purposes to borrow the same. V. N0.3: For the adoption and ratification of said plan and systen of waterworks. N 0.4: Against the adoption and ratification of said plan and System of waterworks. Directions to voters: mark your ticket by placing a cross "X" in the space at the right of the proposition for which you wish to vote. SECTIOI, 13: Said special election shall be at such voting �j &Z'e -054 places in said Town and shall be conducted by such Judges of in spection as may be hereafter designated and appointed by said Town Council of said.Town, and shall be conducted as provided by the general laws of the State of Washington, and the Ordinances of said Town governing elections. SECTION 14: The Town Clerk of said. Town shall give at L: ast� thirty days notice of the time and place and purposes of said election, and of the propositions to be submitted thereat, which notice shall be published in the "Everett Tews", a weekly news- paper published in Snohomish County, Washington, by publication of said,notice in each issue of said paper during the said time, -,and said notice shall be posted at the polling place designated therein for the holding of said election for at least fifteen days preceeding the said day of election. Passed the Town Council this 17th day of October 1901. C.W.Belknap, Town Clerk. James Brady, Mayor. At roved October 17th, 1901., Attest: C.W.Belknap, Town Clerk.