The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1896-04-22
CITY sorloEs.

ORDINANCE NO. 4.15s-AN ORDI-
nance providing for the calling TN Of
warrants outstanding against the city Of
Seattle, for the issuing in exchange for
payable out of Redemption Fund. First
Series" and Redemption Fund. Sec
ond Series" Of the tax levy for the rs
cal year commencing January !. 1876, for
payment or renewal Of said notes, pursue
ant to the provisions Of an act Of the
legislature OF the state Of Washington.
cities. towns and school districts to pro.
vide temporary funds for current ex-
penses. in anticipation Of revenue" APP
proved March 20. 1875.
Whereas. Certain warrants issued by
the city Of Seattle, amounting to the sum
Of $sl.Seo4s besides interest. are outstand-
ing:
the city treasury . With which to pay s and
cancel said warrants: ana
Whereas. The payment for said war
rants has been provided for in the tax
BILE and expedient that said warrants shall
be called In at once and their cancellation
effected by the Issuing of notes of said
city. payable out OF said tax levy when
fore,
Be it ordained by thesci Of Seattle a.
follows:
Section /. The city treasurer Is hereby
directed to publish once q week for two
successive weeks In the city official news
paper (which IL a newspaper OF general
circulation In King county, Washing toni. q
notice. calling for all warrants outstand-
ing against the city Of Seattle. and giving
notice that interest on such warrants will
cease ten days after the date Of the last
warrants are sooner presented and ex-
changed for the notes Of said city in the
manner hereinafter provided.
Sec. 2 When such warrants. aggregat-
-, 49,
dollars. shall be presented and delivered
to the said treasurer. In pursuance OF such
notice. the treasurer shall deliver to the
holder or holders thereof the note or notes
of the city OF Seattle. for the amount due
upon said warrants, which notes shall be
payable on or before May !. 1887. and shall
bear interest from the date OF the issue OF
said notes. at the rate OF seven per cent:
per annum, payable annually. ard each Of
said notes shall contain . clause distfnct-
ly limiting the payment thereof and the
payment Of the interest to accrue thereon
TO the revenues to be derived from that
portion OF the tax levy Of the city Of Seat
lie made by ordinance No. 4.0l9. approved
November o. 1885, for the fiscal year COM
provisions and terms OF said tax levy shall
be apportioned, belong and be paid into the
funds known as Redemption Fund. First
Series" and Redemption Fund. Second
Series" and said notes and the interest
thereon shall be paid from that one OF said
funds. to-wit. Redemption Fund. First
Series" and Redemption Fund. Second
Series" designated in each Of said notes
aboye mentioned. and no other. Said notes
shall be signed by the mayor. countersign-
ed by the treasurer and comptroller. ard
attested by the city clerk. who shah anix
thereto the corporate seal OF said city.
Said notes shall Be substantially the fol-
lowing form:
TEMPORARY LOAN.
City of Seattle. State Of Washington.
Z insert amount) Loan No-....e..
Seattle Wasning.on. Hnss.s cate,
fore Nav firrt. 1897. after date. the ireasur-
er Of the city OF Seattle will pay out Of
any delinquent or anticipated revenues
from that portion OF the tax levy OF the
CITY OF Seattle, made II. 1sss. for use DUR
ing the fiscal year commencing January /.
ssorss OF said tax levy shall be apportioued.
belong and be paid into the funds known
az Redemption Fund Qnsert number of
series).- when collected. to the order OF
(insert name Of payee). the sum OF Gnsert
amouno dollars, lawful money Of the
United States. with interest from date at
the rate Of Gnsert rate per cent. per
annum-
PAYMENT hereof is restricted 10 the reve-
rues derived from tina. portion OF said tax
levy herein mentioned belonging to said
.Rederxtion Fund Gusert number Of &C.
r.es)." ard the treasurer is authorized
ard directed TO set aside and reserve such
revenues. when collected. or 20 much
thereof as may be necessary. for the pay
ment thereof
the Limitations prescribed by. and Is paya-
bic IL. the manner specified In an act. en-
,i;ied. Ar act 10 authorize counties.
vids temporary funds Soe currens "a.