The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1891-04-10
cTrT NOTICES

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e
nRDlNANCE NO. 1.7O2-AX =
~ authorizing and directing ~ ..s,.z r.
Of the city Of Seattle 70 make s1s-ssy 49,
contract on the part of ~, 80 1|
Harris q Co.. OF Chicago Him. S|. -l
Issuance and the sale to snid - g.
OF bonds for the funding Of epr,sE
edness OF said city. and 20 Other
said city, and 10 the DELIVERY ,s55@<Z 2!3
the undeiivered portion OF the - |
and sewer bonds Ct said city. - ~. a. X
Harris & Co. on August 70 IT, - Ia III
BE II ordained by the city Of So so
SECTION i. The mayor and e1517f r. r To-.
Seattle are hereby authorized -
execute and deliver eousr1rS -
city with n w. Harris & Co. p n
which contract shall be in 49, So
stantfally as follows: the bisnkS
properly filed. to-wit: - a.
This agreement made this - 8.
1881. by and between the city e
pal corporation organized ~
state of Washington, and situs7
King In said state, party ofthe
Harris q Co.. bankers. of 49, =
the state OF Illinois. parties Of ~
Wftnesseth, That said paF<tHS
tuslly agree together, each II e.
the agreements on the parf q ~ pr ,|z|
forth, as follows, TO wit: T':5sH..s - e.
i. The city council OF the city =
speedily as practicable take All d e,s<s<.Z5
to submit TO q vote OF the votefs RI
question OF the ratification a. ~ i
rants drawn prior to August -
outstanding against the road fi1f 49,
sald city respectfyely. As foeefheS -
debtedness of said city existInr - 1S5
issue OF such warrants were n SriS1s5
one half per cent. Of the taxah2a
city, as ascertained by the las3z
ment for city purposes, and shG6 r.
necessary steps TO submit 70 4 - ~
said city. al the same election. r -
purpose also. the question % isu1lrrI
city 10 fund all valid warrauf1 q ~
warrants of said city which mav E &C.
the vote cast for that purpoee = "a
sosether with the interest accrusd ri
funding bonds Said city may d5viS5
warrants as are TO be validated -
the purpose OF such election 10 v6ifoS6S
into such classes rs the city -
advisable. The city council II 49,
providing for the issuance Of sucA -
authorized by such votes shnH 11S17<'
bonds shall bear date on July II. ~
able In twenty years AFTER their dr1H
and interest payable 1t the ofyfco y G&5
OF said city. or. IT the opsioa 81 ~
such bond or each interest cpapon. ~
house OF said n. w. Harris : q, RI
New York, and shall bear in1reI17 u1
annually. on the FIRST day Of Janec1S
day Of July in each year duriux tk17f
rate OF six per cent. per aAnuw nr11
ever, that in case said n w. Ns1l12
exercise their option. herein hele0 1n
have said bonds bear interest e - r
cent. per annunl. said city couneH
same TO bear interest 1t that rnsa 80 Is
g In csse the REQUESTS ssse1f -
such funding bonds or any theG1(
at the vote cast ut such elecsi0n, 3 r.
resident and taxpayer In said ctr.
and the proper officers thereof 81 ~
practicable thereafter be insfifuf11 ~
finAl decision by the supreme co11t ~
Washington. to test and detefI13la r
such proposed issue Of bouds. - -
Of which test suit, including II -
sci for the plaintiff and charHoa AZ -
defense Of the suit, shall h 6or6o r
by said city and said ". " HaKr1a = q a
3. In case the requisite nseenf = - =
such funding bonds or any theroof c1
by the vote cast at such eiecfila. - f.
test suit shall result In decisjOo -
proposed to be issued are valid. - -
hereby agrees that it viii sell a.
N. w. Harris 4 Co. the whole a T.
bonds, in one block, to BE- delivered n
by them at their ONCE In the CITY e
speedily rs such delivery shall hepln
the same shall he issued and Feo<T ~ !
livery. the usual papers evfdanf1T
issue to be delivered to said NJ.
prior to payment for said bor12 "a
which all said bonds shall Be 50 80 ~
to said n. w. Harris 4 Co. shall -
same shall be issued bearing inteseo =
o per cent. per annum. one hundzU1 ~
cent (103) Of the par or nee vafue e
thereof, all accrued interest non ~
bonds to the date Of delivery II
cancelled upon the delivery eh1e0
paid by said N. w. Harrfn = ~
city in addition to said price Of tn -
case said bonds shall Be issued ho6rl6
the rate OF per cent. per aIiuum g 1
the option herein below secured q Z
Harris & Co, then the price 8 W111
shall be so sold and delivered . q
Harris 4 Co.. shall be such q ahnll $3.50
equivalent rs an investments 10 ~ 49,
bonds are to run, to the above suRelnc(
8 per cent. bond, but In that CO t16G
the issue of bonds to fund said w1rl6
increased SO that their proceeds y G (
such price shall be As much Is the uco
per cent bonds sold 81 los wou1d II
4. The city OF Seattle hereby GznD
Harris & Go. an option which nay 10
by them by written notice 20 the no ~
council at any time before the fanal 49,
ordinance authorizing and proVf1ln1 s
issuance Of such bonds to have nn}1 ~
to be issued bearing interest at ~ -
cent per annum. PAYABLE semi anuGnE
Of D per cent per annunl, payah,a oqrn<(
said option to be in ali other respecn1C
graph one IN of this arreerneut s1ocfH Z,
8. Said n. W. Harris 4 Co, hss1>4
in case the requisite ascent 10 the e.
funding bonds or any thereof shan . r111
vote cast al such election and in ca6o
shall result In 4 decss Ion thar such -
10 be issued are valid. they will Sake ffoX
and nav said city for the whole a uI0(
bonds. in one block. al the price "A IT,
above agreed upon. z
said n. W. Harris q Co. that Il viii ~ ri
before November lsf, 1891. take sny 49,
the iss,,ipy or auth oriS alton 81 - kr7\
mon me the as.e, au. 70 shs ssms s. T.
sued. except such bonds. II any fwhicb e
as il NAV deem remit !. adyissbie to issns n
struc,ion or endorsement OF warer-W0GzD0Z
10 he Owned nv said eitx. and - r r.
anv time before October j. 1891. tnne r.
toward the issuing or authorixafion az 49,
pavrlent s,f any Indebted ress ar nhYixnsfon 7
mi Of procsedi ali herr,osoTc r. taSen fSrj
ing or extending of commercial fpoG1
Jnin eso ~ Or 9nla nnlra i ~ -
Ter avenue and Front street IN sad clly. r.
Ing out of any agreement made b. 80
Z. said n II Harris q 10. hereby -
said city. in consideration of the psGllIIl
they viii receive a,,i nav for vitkan r.
after the execntion ~ this arrremens -
seattle water-works and sewer boud1ft
a cali or calls upon them 10 receive asl -
and pay for the Remainder OF said bouds a.
10 time upon the maturity OF each furfheee!
caused these presents 20 he executed b. -
and clerk an d 10 be sealed with the coepc1!
Of said city and said y w Harris & a
hereunto set their hand and seal by y. "
their attorney iu fact hereupto duly Authuk
seattle. Wash. the dav and wear M
written.
In presence of.