The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1898-02-19

RESOLUTION, NO. .l7s. = PROPOSED
Amendment No. A resolution and
VII. OF the City Charter. and for the
submission OF such proposed amendment
to the qualified voters OF the city at the
Be it resolved By the City Council Of the
City OF Seattle:
THAT That ses. u Of "a. Article VII. Of the CITY
SO as to read as follows:
Sec. l2. Subdivision !. The mode OF
payment by bonds shall be as follows: AZ
dered or authorized the Improvement. and
no; more than twenty days after the con-
and roll shall be ssade ana returned and
corrections be made therein and notice
given as prescribed In section II Of this az.
under the immediate payment plan. and
the cost and expense Of such Improvement
shall be charged against the lots and par
trict to be created by the ordinance au-
thorizng the Improvement. In the method
n prs, by sections II and u Of this ar
ments levied and collected In the same
manner as Is provided In this article for
where payment is provided to be made BY
the mode OF immediate payment. except AZ
otherwise provided herein.
ordinance provide that the entire cost and
expense OF such Improvement shall be paid
BY bonds of the local Improvement district
to the contractor. or hy the proceeds OF
such bonds. to be issued and sold az here
matter provided. Such bonds shall by their
terms be made payable on or before date
to be fixed by the city council In such or
dinance. and shall bear such interest al
may be provided in such ordinance: not ex-
ceeding nine per centum per annum. which
Interest shall be payable annually. and
each bond shall have attached thereto In
seres, payments. Such bonds shall BE- In
such denominations as shall be provided
in the ordinance ordering their Issue and
secutively. and each bend and coupon shall
be signed by the mayor and at;esred by
he c.iy compIoIler. and each bond shail
and shail r@fer to the IMPROVEMENT 10 p4y
TOR waich the same seau be ISSUED ana
p fne Sas S the ann
therein. and the interest thereon. shall be
payable out OF the local i'm provemcnt fund
expense Of such Improvement. ana not 9TH
aSwise Such bonds shall not be issued In
any amount In excess OF the contract price
Subdivision g. The bonds issued under
the provisions hereof may be issued to the
contractor constructing the Improvement
recting the lssue OF such bonds may pro-
VIDE that tie same may be sold by the city
comptroller at not less than their par vaf-
ue. net. and that the proceeds thereof
shall be Applied IN psyEssnt OF the cost and
expense of the Improvement. but In case
VI a safe OF INC BOEJS ar herein PROVIDED,
the contractor for such Improvement shall
not perform any work thereon until such
sale has been made and the proceeds there
or paid into the city treasury.
Subdivision 4. In al cases where the
city shall Issue bonds as provided herein
10 nay the cost and expense OF any local
shall BE. assessed against the lots and par
GELS OF land which under the provisions OF
law law and me Charter OF tho, city shall be
liable therefor: but the ordinance ieyyinR
such assessment shall declare that the sum
charged thereby against each Of such lots
and parcels o. land shall be paid in equal
annual installnsnts. the number OF which
iGs'a!iments shalI De equal 10 the number
OF Years which the bonds issued 10 pay
Ior the Improvement may run. with inter
est upon the whole sum 10 charged at q
rate 20 be 3ixsd ~ said ordinance, which
saaH De one per eenium higher than tho
annual rate Of interest which the bonds
10 be issued in payment Of the cost and
expense OF the IMPROVEMENT are 10 bear:
and each year thereafter there shall be lev.
VI sncn installmsnts Oh the whole sum
charged against the came and such In
. sss.ii'e tha together with the interes,
Inenis thereafter 10 become due snail
he levied and collected In the me manner
as shall be provided by law and .ae cnar-
and collection Of assessments for sacn i'm
ptoVsinenla IN cases where no bonds are
SUBDIVISION s. The owner OF any lot or
parcel Of land charged y!th any sucn as
sessEnen i. may redeem The came from all
liability for the cost and expense OF such
Improvement by paying the entire assers-
menS charged against sucR lot or parcel OF
land. without interest within thirty DAYS
after notice 20 him OF such assessment and
The amount thereof. and the city comp
ir9llsr snail, as seon after the amount
charged against each lot or parcel Of land
3 csisrEnioed as 10 Draci.cAbis mail 70 the
ownSr Of eacn os or parcel Of land. az
saoNH oy the asseSHnSnt roll made for Jew
yinx tho cos; AID expense OF such i'm
a g
f9sa Assessment ard toe amount charged
therein against such lot or parcel Of land.
owner a. the city Of Seattle. The bonds
herein provided for shall not be issued
prior 10 she expiration OF the thirty days
above naenticnsd. Su. may be issued At any