The Spokane press. [volume] (Spokane, Wash.) 1902-1939, 1904-02-12

nance No. A1OS8. passed September
10, 1901. Such assessments shall be
made and all things pertaining there
to done in accordance with the pro-
visions of said charter and said Or
dinance. and said assessments. when
the same shall have been confirmed by
the city council. and shall be a lien
on the property in said assessment
district, and payment thereof may be
enforced in the manner provided by
law.
Sec. S. There is hereby created a
fund to be known as Sinto Avenue
I Improvement Fund. District Number
One, into which shall be paid the
aforesaid assessments as and when
directed by ordinance confirming said
assessments and the assessment roll
therefor. and said fund is created for
the purpose OF redeeming the bonds
issued in payment of the cost and
expense of said improvement. as
hereinafter provided. and from which
shall be paid said bonds to the extent
of Spokane be liable for the payment
of said bonds or any part thereof.
Sec. 8. For the purpose OF making
payment for the cost and expense of
said Improvement, there shall be is
sued by the city of Spokane it's ne
gotiable coupon bonds. as provided In
an act of the legislature of the state
of Washington, entitled IAN act au-
thorizing the issuance and sale OF
bonds by cities, to pay for local I'm
provements. providing for the pay
, ment thereof. and declaring an emer-
gency." approved March 14th. 1899.
payable to bearer ten years after date.
bearing interest at the rate of six
per cent per annum, payable annual
ly. which bonds shall be styled "Spe-
cial Improvement Bonds, Sinto Ave-
nue. Improvement District Number
One" Provided. the city OF Spokane
reserves the right to call and pay
any of said bonds according to their
numerical order, as provided in the
act above referred to, whenever there
. the fund hereinbefore designated to
pay any of said bonds. Said bonds
shall be issued in, an aggregate
/ amount equal to the total amount of
special assessments levied as herein
provided, and shall be of tho denomi-
| nation OF $500 each. except that one
! bond may be for such sum less than
5000 as may be necessary to make the
issue correspond with the total
| amount of special assessments. levied
as herein provided. and provided also
that the first of said bonds may be
| for an amount equal to the amount
of cash on hand I'm the fund from
which the same are payable as herein
provided. at the time of the issuance
of the same. The difference between
|
ments, levied as herein provided and
the actual cost and expense of said
improvement shall be paid by the city
of Spokane, as provided in Ordinance
No. Al0SS above referred to.
Sec. 7. Said improvement shall be
made under the supervision of the
board of public works, which Is here
by authorized to receive bids for
making the same and to enter into
such contract or contracts as may
be necessary to have said improve
ment completed as soon as may be
consistent with the proper procedure.
| The contract for said Improvement
shall provide that the same shall be
completed in all things in accordance
with the plans and specifications for
said Improvement, herein referred to.
| and shall also provide that the con-
tractor making the same shall accept
the bonds herein provided for at par
and accrued interest in payment of
the contract price for such work, to
the extent of such bond issue. If the
city shall so elect. and that the bal
ance If any. of such contract price
| shall he paid In such manner as shall
be hereafter designated by the city
council No contract herein provided
for shall go into effect, in so far as
| the city is concerned, or be binding
upon it, until the assessments herein
provided for shall be confirmed; and.
| in the event tho assessments and as
| sessment roll herein provided for
shall not be confirmed. then such
contract shall be or no further force
| or effect.
Sec. s. This ordinance shall take
effect and be In force ten days after
| it's passage.
Passed the city council February 2.
| 1904. FRED II. BALDWIN,
President of the City Council.
Attest: c. A. FLEMING. City Clerk.
| Approved February 0 1904.