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Ordinance 0231NC * * * M aK * IF 'F 'F IF, .41 T- T T T T ORDIVAI CE N 0. 231. 64 i � o t� An Ordinance providing for a special election in the City Edmonds, Washington, to be held in said City on the 7th day of &T October 1911, at which shall be submitted the question of whether wig` or not all warrants issued by the said City of Edmonds between the 5th day of May 1910, and the 3rd day of May 1911, commencing with Warrant lo.709, and including Warrant Fo.143, excepting Warrant h o.945, issued September 8th, 1910, to H.B.Ward & Co., in the sum of 1,000.00, shall be validated and ratified, and the further pro- position whether said warrants shall be funded by the issuance ana07 - sale of the Bor_ds of said City. The Uity Council of the City of Edmonds do ordain as follows: SECTIOF 1: That there be and is hereby called a special elec= � jx, tion to be held it said City on the 7th day of October 1911, at which shall be -submitted to the votersof said city/the proposition and question of whether or not all Warrants issued by said City against the current expense fund between the 5th day of May 1910, and the 3rd day of May 1911, commencing with Warrant to. 709 and ending with Warrant Mo.143, excepting Warrant ho.945, issued Sep- tember 8th, 1910, to H.B.Ward & Co., in the sum of 1,000.00, shall be validated and ratified, and the further proposition_ and question whether or not said warrants shall be funded by the issuance and sale of the Bonds of said City, to runfor twenty years with the op- tion of payment at any time after ter years from date thereof. �] SECTI01 2: That said proposition shall be submitted to the (- voters of said City in two separate propositions, and shall be "t known as "Proposition Lo.l" a.rd "-?ropositi.on 10.2", and shall be W separately stated on the ballot, and the whole amount of Bonds, exclusive of the interest accrued an& to accrue thereon., shall be stated in Proposition Lo.2, but the issue of said Bonds shall in- clude all of such interest. I- SECTION 3: The City Clerk shall prepare the ballots for such special election, which shall present to said electors both of the propositions aforesaid, and which shall be as follorys: "PROPOSITIOL Y40-1 r 11Shall all Warrants issued by the City of Edmonds on the current ,j,,,,j expense fund of said City between the 5th day of Yay 1910, and the ��'��`` 3rd day of May 1911, commencing with Warrant lo.709 and ending with Warraz.t ro.143, excepting Warrant lo.945, issued September 8th,1910, to H.B.Ward & Co., in the sun of $1,000.00, be validated and ratified? FOR RATIFICATION AGAINST RATIFICATIO1 Opposite each of the last two lines shall be placed a square in which the voter may place his cross, indicating his vote thereon. "PROPOSITION 110.2. Shall all Warrants issued by the [sty of Edmonds on the current r� expense fund of said City between the 5th day of May 1910, and the /Pp fv 3rd day of May 1911, commencing with Warrant lo.709 and ending with Warrant Eo.143, excepting warrant Lo.945, issued September 8th,1910, to H. 3. Ward & C o . , in the sun of $1, 000. 00 , be funded by the issu- ance and sale of the Bonds of said `°ity to run for twenty years, payable at the option of the City at any time after ten years, the 128 total amount of which is $15,430.7.5,together,with interest accrued and to accrue thereon? FOR FUNDIFG BONDS. AGAINST FUEDIFG BOLDS. Opposite each of the last two lires shall be placed a square in which the voter may place his cross indicating his vote thereon. SECTIOL 4: If,three-fifths of the electors voting at said elec- ion shall vote on Proposition No.l for the ratification of said /a arrarts the same shall be fully validated and �� h ly n if three -fifths of such voters shall vote in favor of funding said Warrants under pro- position No.2, mounding Bonds of said City shall be issued as here- inafter set forth. SECTION 5: The City Oouncil shall issue the coupon Bonds 6f said City, payable twenty years from the date thereof; provided 'JA'L.' however, that the said City reserves the right and option to pay ,any or all of said Bonds at any time after ten years from the date ,of their issuance. Such Bonds shall be in denominations of not ,yr less than one hundred, nor more than one thousand dollars each, el shall bear interest not to exceed six percertum per annum, payable annually, both principal and interest payable at the Fiscal Agency of the State of Washington in the City of Few York, State of New York. Each Bond shall have interest coupons attached thereto, and shall be signed by the Mayor, attested by the City Clerk, and counter- signed by the City Treasurer, with the seal of the City affixed there- to, and shall not be sold,for less than par. -P Each Bond shall have printed on the back thereof a copy of the Act of the Legislature of the State of Washington of -the Session z of 1911, entitled, "An Act to enable counties, cities and towns to validate certain Warrants and other obligations and evidences of in- debtedness on the part of such counties, cities and towns, issued by the corporate authorities thereof in excess of their legal author- ity, and declaring an emergency," and approved March 17th, 1911, to- gether with a copy of this Ordinance. There shall also be printed on said Bonds the result of this election. A register shall be kept by the City Clerk of all Bonds is- 'J sued each Bond issued, the date of issue, amount, interestunder authority of this Ordinance, which shall show the number of , to whom sold and delivered, and when and where payable. Said Bonds shall be numbered consecutively upwards. ` SECTION 6: There shall be levied each year upon the taxable property of the City in addition to the tax for other purposes of said Uity, a tax sufficient to pay the interest accruing thereon and before ten years prior to the maturity of the principal of said Bonds, an annual sinking fund tax sufficient for the payment of said Bonds at maturity shall be levied against said property, which taxes shall become due and payable as other taxes. Provided however, that the City of Edmonds reserves the right, after ten years, to authorize and direct the Treasurer of said City to call any or all of said Bonds at any time, at its option, and when said call shall be made for any Bond or Bonds issued by FV virtue hereof, all interest thereon shall cease from. and after the date of such call. SECTI0 7: The polling places for the several wards of said City for said special election, together with the names of the judges and inspectors thereof, shall be as follows: First Ward at the City Hall, the inspector for which shall be B.F.Wasser, and the judges F.Z. Brown and H.R.Beeson; Second Ward at J.N. Otto's store on George Street, the inspec- tor for which.shall be D.M. Yost and the judges A.War7en and O.Z. Mowat; for the Third Ward at Graded School House on George.Street, the inspector for which shall be JohrYost, and the judges S.J. Mothershead and Henry Erber,Jr. SECTION 8: This Ordinance shall take effect and be in force rp, ,y viture of its passage and approval, and shall be published -for �f/�` /�`four successive weeks prior to suchspeeial election. Passed the council and approved by me this 13th day of Sep- tember A..u. 1911. Att@§t: ZQPhar H0We11,3rd,Cit.y.Qlerk. Thomas Hall,�'_gayor. I hereby.certify that the fibove and foregoing is a true and correct copy of ordinance No.231 of the City of Edmonds, Wash. Zophar Howell, 3rd, Uity clerk.