The Kennewick courier-reporter. [volume] (Kennewick, Wash.) 1914-1938, 1914-06-04
ORDINANCE NO17s

An Ordinance providing for submitting
~ to the Electors of the City of Ken
newick, Benton County, State of
Washington, at q special election to
be held on the 9th day of June, 1914,
the proposition to incur an indebted
ness of Twenty Three Thousand and
00-100 Dollars, for the purpose of
refunding, taking up and paying
off outstanding Warrants issued
against the Current Expense Fund,
and to issue bonds to evidence such
indebtedness.
The City Council Of the City of Ken
newick do ordain as follows:
Section l. That for the purpose of
providing funds for the paying off out
standing warrants issued against the
Current Expense Fund, which said war
rants were issued between the 30th day
of April, 1918, and the 7th day Of May,
1914. the City Of Kennewick shall bor-
row money and incur Indebtedness
therefor, by the issuance and sale of
bonds of said City in the sum of Twenty
Three Thousand and O0-100 Dollars,
which bonds shall be known and desig-
mated as ''Kennewick Funding Bonds"
and shall be numbered from one up,
consecutively. Numbers One to Forty
six, inclusive, of said bonds shall be in
the denomination of Five Hundred Dol
lars each. Said Bonds shall be signed
by the Mayor, countersigned by the
Treasurer and attested by the Clerk of
said City, who shall affix his official seal
thereto. They shall be payable Twen-
ty Years after date, with the option on
the part of the City to pay any or all of
said Bonds in ten years after date or at
any interest pay day thereafter prior to
said twenty years, and shall bear inter
est at rate not to exceed six per CEN
tum per annum, which interest shall be
evidenced by proper coupons attached
to each bond. Said bonds shall be ex-
changed at not less than their par val
ue, for said outstanding warrants, or
sold at not less than their par value,
and the proceeds used exclusively for
the purpose of retiring and canceling
said warrants and the interest thereon.
Section 2. That the proposition to
incur such indebtedness by the sale of
said bonds, shall be submitted to the
qualified electors of the City of Kenne-
wick for authorization or rejection at q
special election to be held in said City
on the 9th day of June, 1914, and the
City Clerk of the City of Kennewick is
hereby directed to cause notice of the
submission of said proposition to be
published in the Kennewick Courier-Re-
porter; the official newspaper of said
City, doing the City advertising, IN each
issue thereof for period of Fifteen
Days before said election, which notice
shall include this Ordinance in full. He
shall also cause to be printed and post
ed in each precinct of said City, at the
polling place therein, copy of said
notice and this Ordinance, not less than
fifteen days prior to the date of said
election.
There shall be printed upon each off
cial ballot issued at said election the
words. "Shall the City of Kennewick.
for municipal purposes, borrow $685.
000 90, and issue its negotiable bonds
therefor? Bonds, Yes. Bonds, No.
Every voter electing to vote for the
authorization of said indebtedness shall
do so by striking therefrom the words
Bonds, No., and every voter electing
to vote against the authorization of
such Indebtedness, shall do so by strik-
ing therefrom The words Bonds, Yes,
so that the remaining portion of said
ballot shall express his vote on said
question.
Section 8. That il the proposition to
incur indebtedness be authorized by the
electors in the manner provided by
law, the money arising from any sale
of said bonds shall be put into the Gen.
eral Fund, or into such Special Fund as
the City may provide by ordinance, but
in no case shall the money arising from
any such sale Of said bonds, or any