The Seattle star. [volume] (Seattle, Wash.) 1899-1947, 1913-02-19

ruoPOfED AMENDMENT so
A nFauLCrfoN and rnnfHAt ftpN
&. snassa Ar,'is n q ,es ,, e,,1 ,. s,i,ss
mes section 90 h@ hnnHn a. section ~
fHiatnn c. tbs iuFrHi nrnt ~ clD funas
and sahssiitiue saeh rtepesra St' W.
af che reurrai municipal eieriiea 20 -
p ga March 4 1879 - ...
uE III RESOLVED ny TUE CITY
corNciL or THE CITY OF SEAT
Thst Article TX - ths city charter -
amended ~ adding thereto a nen 49, q ~
70 - knoun as Section -, ~h4eA shA''
ssesiss 10 whsasvsr ths amount q
rash un hand tslansinK 20 the cry y
seattle. inrigdinE aeprsita " eI
surfkasrt 80 utref Hti fhn current -
fivnasH ana obligations - fhn city npa y
~ MODS aislriris ahd fsparimenfs a.
tssr srrrae ere city is authorized go IT,
$50 temporarily the rKerss above salh
reasonably s9ffirlrHt SUN M the tRNa
tWF utuity ahd general bonds ard rur
ranis u ths city ~ - ifs funds. depart
mrnts ar eprelai asseas0nruf districts. at
uat te exceed raF ard accrued Interest
Nath bonds or warrants may be 40 ln .
tsstsa in after thrY have been erccuind
lsaurd ar cold - tho city Such lnfHHi .
rsrns shall mot operate 90 pHr. eaneoi nr
anuui any bond Or wartant - Inverted
Co., or 60 impair iis Validity tui the cffr
ahau 10 doomed lH en- respects tho legal
% mar ~ surh bond nr warrant
surh oash may aiaa 30 Invested in tondH
~ thr State % WashinEfpn. nr o. fhc
counties cities Or school districts - the
atats % WnHhin Etou. ~ iu the bonds ~
The Emitted states Any bonds ~ VIZ
ranis - Invested 10 may ho sold Tor cash
~ nnt lees than par and accrued irtef-
ent TO accordance With laws aud ofdi.
rarrrs pruffdinr FOR the Issuance Or sale
- bonds ard ihc proceeds shall be placed
,,,.,,r ~,',h erress d, cash on hand real
pfup~ftv when n0id according 60 Law Ter
daiinouant special asscaHfurnts uhF To
ta ne fires person at said saie. offering
ID nsr tho amount due on each iot tract
az rarrei - land nr other frarHrfF cold
According % inc statute iu such case pre-
eiara Tha real property 30 acquired may
~ cola fgr cash and the proceeds shHli
10 uisred 10 the city treasury In order
that such excess - cash on hard may ~
Invested IN bonds Or warrants payable IN
,~t,ie ftr tn part from local Improvement
dirtri-ts Or condemnation dlnirirtH the
assrssrd valuation Of tho proprrty az.
srssed 20 pay ior such imp,e."ment Or
..urrnasa BY the city % such bonds cr
warrants exceed tho rum assesasd for
such Improvement ~ conn ,nuhtioh ApHed
~ al outstanding special asHessuieuts
levied against said property
scent where lncpnFiafcnt With statute
aid Interest 81 profit FROM any and sil
surh Investments shall belong TO the city
- osrt nf tts general fund and such
fgnd shan bear on losses that may re-
s,iu from such Investments.
Tho amount q working capital IN the
PORN, q cash on hand reasonably nccsa-
80 ~ meet al current expenses ana
Iotfiratinur shall be aacerthinad and do
tcrmiued from time 60 time ny city Dr.
tlraorr rh~ duties u making. nan+
ta- "a diHpaaina % said lnVeHfucuts
sEeN BE- performed BY the Finance Corn
trutee % the CITY Council subject 20 Tho
apuraeaI 81 the CITY Coinr u unless TIE
. dnffaa Ia O. "a a.
.r.,tard bv city ordluauce Rules rcHu-
tsttrr tho performances n sfud duties
nav also ~ provided BY ordinance Al
bonds. warrants. aud az documentary
la ahsii ha IN the custody ~ tho GUY
,.'.,,,.,frofior. whn shall be liable Tor the
safe keeping thereon
a. sttv .hsH direct the creation aud cH.
l,stushnrnt % "a municipal banking and
tr,,.t drpartment IN tho treasury depart.
I'rr,ioou herein authorized shan. IN 70
49, a. NAV arc not required hy law 90 be
nrrf,rned hy other departments ~ the
'tty 40 part 81 tho duties and fuuc-
ltr. and shall 30 performed ln and
through said banking and trust depart
"JADNp BE 1T FURTHER nEsoLvEn
that such amendment he submitted 20
~ ,,,.flfrd electors % the city Tor their
ttfi,.tton or rejection AT the next gem
- ,,,,t,t,iust election To he held la tho
CIV on seattle ON the 18th day Of March.
Id the city Council tho 7oth day ~
,,a.,tgr fafg aud signed by mo In
49,, srssion I'm authorization OF Us pas
sage this 3oth day of Deeember. lgl2.
president Of the city Council.
'''' II W CARROLL.
city comptroller and ex. ofticlo city clerk,
pate OF first publication January 5lat