The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1898-02-16

REsoLUTloN NO i1s = pRoPosn
proposition to amend Sec. u Of Arue1e
VIII. OF the City Charter. ard for thu
submission OF such proposed amendment
TO the qualified votefs of the city Ut thl
next general election.
THAT Sec. Is Of Article VIII. OF the CITY
Charter of the City OF Seattle be amenot4
''sec. r. Subdivision l. The mcde ~
payment by bonds shall be a. follows: ~
ter the city council has by ordinances 90
not more than twenty days after the co.,
tract therefor has been let. an estimAo1
and roll shall be made and returned -
corrections be made therein and notice
given as prescribed In section ~ OF this A.
ticle governing local improvements mae3
under the immediate payment plan: 81 =.
shall be charged against the lots and pasp
GELS OF land In the local Improvement d.
irict TO be. created by the ordinances ~
prescribed by sections II and IL Of this A.
ticie. Contracts shan be made and ASSESS
ments levied and collected In the 49,
manner az is provided In this article foe
the ievylng and collection OF assessmeuye
where payment is provided TO be made
the mode of immediate payment. except .
otherwise provided herein.
Subdivision Z. The ely council shall b.
ordinance provide that the entire cost Az
expense Of such IMPROVEMENT shall be 49,
by bonds OF the local Improvement dMfrt<{
created for said Improvement to be lGDuo4
10 the contractor, or by the proceeds ~
such bonds 10 be issued and sold a. here
matter provided. such bonds shall by thsJg
terms be made payable on or before dato
70 be fixed by the city council IN such -
i.rance, and shall bear such interest -
may be provided In sacn ordinance, not ex-
ceedtnE nine per centum per snnum. wnse4
Interest snail be payable annually. an0
each bond shall have attached thereto NJ
tersst coupons for the several annual fq-
serest payments. Such bonds shall 10 -
such demon saat tons as shall be provide4
in the ordinance ordering their ISSUE an4
shall be numbered from one upwards. cony
secutisely. and each bend and coupon gbeu
be signed BY the mayor ana attcsts "
have the seal OF the city affixed thereto
and shali refer to the Improvement 70 pay
for which the same shall De Issued ana
the ordnance ordering the same. ana sna4
provide that the principal sum names
therein. and the interest thereon. zhall -
payable out Of the local improvement fund
created for the payment Or the coAt ana
expense OF such Improvement ana NOT Oh.
srwise. 5uca BONDS snail not Re Issued -
any amount In excess OF the contract price
Subdivision B. The bonds issued under
the provisions hereof may be issued 10 tho
contractor constructing the insprovemsu,t
rectiBg the Issue OF such bonds may pro-
vide that the same may be sold py the city
ee net. and that the proceeds thereof
snail be applied In payment or the coH ana
expense OF the Improvement. but In cAse
OF sale OF the bonds az herein provides,
the contractor for gucn improvement hnAu
Dot perform any work thereon uptif sucn
sale has es-n made ard the proceeds there
OF paid into the city treasury.
'Su5diTisicn l. In all cases where the
city shall Issue bonds as provided herein
70 pay the cost and expense or any local
Improvement tta- fszid cost and expense
shall be assessed against he lots ana par.
GELS Of Land which under the provisions Of
law ard tas caarfer Of the city snail b
liable therefor. but the ordinances isvyino
charged thereby against each OF such lote
and parcels Of land shall bT paid In equal
annual inatasITents. the Number Of whtra
fnstanTens shall be- equal to the numhts
CT years waich thu bonds issued 70 pay