The Seattle star. [volume] (Seattle, Wash.) 1899-1947, 1913-02-01


PRopORED AMENDMENT so
A HFEol.fTIoS ard FHufpHl IipN
90 afaend Articie TX - the tf3 thAfN't
u the ciir Of seattle ~ aaaln9 tsst
re8atiuK 20 the lnFess fnent - rity fands
and suhrnittins sach PROPOSED siassa
mrui 70 tho qualified electors ~ ne ~
81 tn~ general rnanicipAi election % es
ia ff REsotVgD mr. THE CRY
coUSctL oR THE CITY OF SEAT"
ma, Article TX q tho city Charter -
amended ~ adhins th.rats mes 49, tiqn
90 - knwwn as section ~. uhtrh sha'i
es.,las 10 whsnsver the ameuai %
cast % hana hetarsinx % NE Ciiy ~
seattle iuctufinE deposits in % So"
hAnka exceeds such sum - ~ frAspnAhlf
safiieirut e. meet an NE enff0ni
.,rasss sna obligations % fhs CITY ant -
To- fhnas districts And department a.
fbsT accrue. thr fitf IL authorized 70 tn
fsssanahlv saffieiHu; sufa On the valid
rits ufI5ffy ard general beads and - Af-
Fsnfa - the city - - 80 funds. neFaft
tnsni. " special ssss ssi,'sh. -, ~
ssfh honAs % warrants may b - IN !.
fssard in after fhey have teen rtnf stso
either before ~ AFTER thsy heFs tsen
,snsnt shall not operate 30 pay. cancel af
anral anv bond ~ warrant - Invested
10. ~ 70 Impair Sc validity. but the eii!
s.ssf y saeh bond o. wsfrani
Eafh cash may also hs Invested IN bonds
a shs state - washington. 90 ~ ths
essntiss. eitiss " school districts % me
state u Washington. OF ~ the epnds Of
ltta United states Anf hanas % NNr
ass % "a ia mag ~ sold fof cash
al .aet less than par and accrued inlsf
irsfs In Accordance uith lAsA ana ptai
4 .arar providing far ihr Issuance o. sale
- bands aud the proceeds shall Be placed
10 tha fiis treasury
Hrorn such excess q cash on hand real
prosperity when spid areardinx 60 lac tgf
asun4Bsni special aHasaafnants may -
pat chased. and the city y authorized 20
- iths nfs, Psrton az sala sa,s isslhs
ar parcel 81 land o. ether property asl1
srfsarhlug 90 she statute o. such ease pro
fIaea The real property - acquired may
10 SOLD fnr cash. and the proceeds Hhsli
T.. ufarea IN the ritY treasury IN order
that such src~sa - caah on hand may ~
fr sasf ed ia bonds uf warrants payable ~
rheie or IN par, from lecai ,napso.eins IN,
aiatrIrfs or condemnation districts the
assessed valuation u the property a.
nsssrd - pay for such Improvement ~
couaafu walton shall, a. the time ~ the
tenants exceed the sun assessed for
such Improvement or condemnation added
10 al outstanding special assessments
los led against said properly.
Fsrspt where Inconsistent With statute
All Interest or profit frum Rny and sli
surh invest frtnnts shall heiund 20 the city
~ part of ts kenefA tHhh anu eNth
guua shall bear al LOSSES that may re-
.ait from such Investments.
The amount Of sorkins capital ~ the
form o. cash on hand reasonably necas.
.arF % meet all current expenses AMI
ofiisnt lions shall be ascerteturd and do
farrnlned from time 70 tlne hy city fr-
d,uanes Tho duties % making. man
aKlnN ana aisposlns of said Investment
r,lttes of the CITY Counril, subject 90 The
approval 81 the city Council unless tho
performances Of such duties u eth"r~iHe
provided b. city ordinances" Rules f7su-
ATTN. the performance q Haid duties
MAY also bs provided BY ordinance All
bonds warranfa. and all documentary
evidences q ute or rights - inFe s,,,.
lfsompfrolisr, who shall be liable for the
safe keeping thereon
Provided In the event the electors or
lths citv shall direct the creation and 90.
ltaIfishuant Of a municipal banking aud
trust department In the treasury depart.
rnent of tho city. tho requirements ana
functions herein authorizes shs', N 20
far az they are not required by law 20 be
-, f,r,,cd IN other departments Of the
ritv be a part Of the duties and func-
lions aud shall De performed IN ana
through said banking and. trust depart
hsp pr IT FURTHER RESOLVED
that such amendment be submitted TO
lie qualified electors 81 the city for their
Ratification or rejection at the next sem
ler,i municipal election 70 be held IN the
CIV 81 seattle on the 9TH day Of March.
ras.ed the city Council the aoth day o.
f,.ce,,hsr 1919, and signed by me In
omen Heasion IN authorization OF its paa-
assa ms gOth day ~ December, 1919.
ROHT ". HESkETH.
president Of the city Council
Filed the soth day q peeernber, 1912.
pate Of first publication January sist,