The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1898-02-18

RESOLUTION NO. i7s. - PROPOSED
Amendment No IA resolution and
proposition to , amend Sec: - Of Article
submission OF such proposed amendment
TO the qualified voters OF the city at the
Be it resolved by the City Council of the
That Sec 10 OF Article VIII of the city
go as to read az follows:
Sec. g. Subdivision l. The mole OF
payment by bonds shall be as follows: At
ter the city council has by ordinance or
dered or authorized the Improvement. and
not more than twenty days after the con-
tract therefor has been let. an estimate
and roll shall be made and returned and
corrections be made therein and notice
given 80 prescribed In section !, OF this ar
the cost and expense OF such Improvement
shall De charged agains, the lots and par
GELS Of land In the local Improvement dis
trict TO be created by the ordinance au-
thorizsng the Improvement. In the method
prescribed by sections Ii and IL Of this ar
licle. Contracts shall be made and assess
ments levied and collected In the same
manner as il provided in this article for
the ievylng and collection Of assessments
where payment Is provided TO be made by
the mode OF immediate payment, except as
otherwise provided herein.
Subdivision 2. The city council shall by
ordinance provide that the entire cost and
expense OF SUCH Improvement shall be paid
by bonds Of the local Improvement district
created FOR aald Improvement 10 be issued
10 the contractor. or BIZ the proceeds OF
SUCH BONDS 10 be issued and sold as here
matter provided. Such bonds shall by their
terms be made payable on or tefore a date
To be fixed by The city council in such or
dinaTce. and shall bear such interest a.
may be provided IN such ordinance. not ex-
ceedns nine per centum per annurn. which
interest shall be payable annually, and
each bond shall! have attached thereto In
teresi coupons for the several annual In
terest payments Such bonds shall be In
suen concentrations as shall Be provided
shal be numbered from one upwards. con-
secu'ively, and each bond and coupon shalt
PC signed by the mayor and atteHted BY
The city comptroller. and each bond shafi
have the seal Of the city affixed thereto
and shall refer 20 the Improvement 10 pay
70: which the same shall De ISSUED and
the ordinance ordering the same. and snail
provide that the principal sum named
therein. and the Interest thereon. shall be
payaoie out OF the local Improvement FUND
created for the payment ~ the cost and
expense Of such Improvement. and not OH
erSise. 5gch bonds shall not De issued In
any amount in excess OF the contract price
OF such Improvement.
Subdivision 3. The bonds issued under
the TGoylE.ons hereof may be issued 20 the
in payment thereof. or the ordinance d.
rcetiDg the Issue OF such bonds may pro
VIDE taat the same may be 500 oy the city
comptroller al NOT less taan their par val.
ue. net. and that the proceeds thereof
shal be applied In payment Of the cost and
expense OF the Improvement. but IN case
OF sale OF me bonds a. herein provided,
the contra ctor for sucn Improvement shall
not perform any work thereon until such
sac has been made and the proceeds there
o. paid Into the city treasury.
s8ocfvlslon T. IN al eases where the
citS snsli issue bonds ~ provided herein
20 pay the eos, and expense OF any local
IMPROVEMENT the ga!s ccgt ard expense
shai. be ssscssed against tee lots and par
CO = Of hand which under the provisions OF
Law and the charter Of tho city shall be
liable therefor. but the ordinance ieyyfng
g1cn assessment shall declare trat the stAn
RIB. Exry Ay4a xuk I'D In
and parcels Of land shall 10 paid In equal