The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1890-08-21

"ouio oe $1,Ou0, and as the work went ON
payments would be made in such q vav
mat ne believed the amount paid would be
about $40 900. y
Mr.. Shepard said 100000 would be nav.
able immediately for Indebtedness already
incurred.
The question" was called for. and the
CITY clerk called the roll beginning with
"Calligan-n
Il suppose I'll have to vote yes, but /
90 u reluctantly, because am not sure of
our position"
The vote was unanimous in favor of &C
cepting the bonds.
The moment the vote was declared. Mr..
Shepard said: 81 have an ordinance all
ready If the council desires it,"
de then read it. The ordinance REQUIRES
that Mr.. Halsey's bid shall be accepted.
and he be paid q commission of $40 100
forthwith. the city warrant for that amount
70 ne at once returned as the first payment
for the bonds.
Mr.. Mckenzie said he would like Mr..
Haisey to put in writing what he con.
sidered "a satisfactory issue"
City Attorney Shepard said he was will
ing without any expense to the CITY. TO
bring new suit in the supreme court
covering all the points raised.
Inc ordinance was put on final passage.
When the important document was pre-
sented to the mayor, he said to Mr.. Hal.
sey: Il sign this on the good faith of
your assurance that the condition as to the
bonds means only the form of their issue
and raises no question as TO their validitv.n
Mr.. Mckenzie insisted that the $l9.1OO
should be placed in escrow, so that the
commission should not be paid out and
leave possibility that nothing further
would be done.
Mr.. Shepard-Are you willing to agree to
that. Mr.. Halsey2"
Yes" said Mr.. Halsey, al am willing"
Mr.. Twichell said il there were no pro.
vision of that kind. Mr.. Halsey could Just
put SIS. 100 in his pocket and walk off with
IT. His firm could then raise questions as
to the satisfactory ISSUE"
Mr.. j. +. Hill, uf the firm of L. III. Grit
nth Company, who was in the room, was
asked his opinion and replied that he con-
sidered the city was getting q good price
for its bonds.
A warrant was then made out for SO 100
and handed to Mr.. Halsey, who signed N.
w. Harris q Co. g bid and made il abso-
lutte.
The city attorney had the other ordi-
nance ready, making the contract with
Harris d Co., but after reading it the men,
bers asked number of questions.
Just before the ordinance was to be
signed by the mayor, Mr.. Mckenzie asked
If 1t were necessary to be signed immedi-
ately.
The city attorney said if there was any
hesitation. it should have been before the
other ordinance was passed Now the
$19. 100 commission had been paid, and it
was too late to stop.
While the mayor was reading the docu-
ment, Mr.. Twichell moved that the mayor
be requested to sign the ordinance at once
II don't consider that necessary" said
Mr.. Hall; "the mayor of the city of Seat
tie ought to have backbone enough to sign
that ordinance now or reject it.
II don't blame the mayor for being eau
tious and desiring to see what he is sign
ing. where the interests of the people are
concerned so largely" answered Mr.. Nc
Kenzie.
The ordinance was then signed. The
city clerk and city attorney prepared the
necessary receipts, and the council adj
iourned.
II was informally agreed that proof of
the bond should be submitted to Harris &
Co. for their approval. This is the same
firm that took 5000 o of the King county
courthouse bonds. They are said to have
handled $35. 900 worth of municipal
bonds last year.
Following is the ordinance:
ORDINANCE No. 1850
An ordinance accepting the bid and offer of N.
w. Harris & Co. to pay par for certain bonds
of the city of Seattle, and selling said bonds
and directing the delivery OF the same to said
n. W. Harris & Co. upon payment for INSTALL
ments thereof from time to time according to
the terms OF said bid.
Whereas, N. VI. Harris 4 Co., OF Chicago, H.,
have on August 10. 1890 flied in the Office of
the clerk of the city Of Seattle their bid and
offer In writing to the mayor aud common coun-
Gil of the city Of Seattle to pay par for the entire
amount Of those certain bonds Of the city of
Seattle in the sum Of sa55,0oo in the whole.
known and styled Seattle Water Works and
Sewer Bonds" which bonds have been author
tied to be issued by ordinance No. l3i3 OF said
city, entitled An ordinance providing for the
issuance sale and redemption of bonds in the
sum OF nine hundred and ffty-hve thousand
dollars. for the purchase of water-works and to
extend, enlarge and improve the same, and for
the construction of a sewerage system through
ont the city, and providing for q special cleo
fion that the voters of said city may vote for or
against the said proposition" approved April
"a, 1890, and by the assent OF the quslie voters
OF said city voting ~ the special election held
for that purpose, pursuant TO said ordinance on
June f. $780, which bid and offer Is in the words
and figures following, to wit:
For the 1885, 900 water and sewer bonds of the
city of Seattle offered for sale, dated July ]. 1890.
maturing twenty years from date, bearing inter-
est at the rate of per cent. per annuni, payable
semiannuslly, both principal and interest pay
able at some national bank in New York city,
we will nay par. that is 1856 600, bonds to be de-
livered as follows: $3.50 200 as soon as bonds ere
satisfactorily issued $50 900 October l. 1890; $780,
600 November /, 1890: sSl5.Co0 after January /,
1891 but in installments of not less than $4,000
nor mere than $4,000 as funds are actually need
ed in paying for construction OF work or water.
works and sewers upon estimates furnished TO
council by the engineer in charge OF
construction we TO have fifteen days
notice OF any such sum being needed.
sad notice TO be sent to US by the city
clerk under the seal OF the city, said bonds 10
be paid for as follows SIG 100 In warrant OF
the city of Seattle ai time OF acceptance OF this
bid, $3.50 200 when the $S5o.ooo bonds are deliv-
er d. and balance from time TO time as portions
of remaining $685. 600 bonds delivered. all in
terest coupons from date OF bonds 10 De at
tsched TO bond and uncsncelled.
The usual papers, including certified copy
If decision OF supreme court, showing sstisfac.
torily legality of ISSUE to be furnished US prior
10 payments OF bonds, bonds to be pad for on
delivery at some bank In Chicago or New forx
to be selected by the city OF Seattle
This bid is coadi;io ed upon the same being
eoun,ersieued by w. W. Hslsey OF Chicago. /,
who will present the same 70 your honorable
body. and, upon his eountersignipg the same,
this bid VIII become absolute
Yours truly. n. w. HAREIs CO.,
Chicago. Ill
And. whereas, said bid has been counierssned
.f Chfeagn Ill. named IN